Quarterly report [Sections 13 or 15(d)]

Cash, Cash Equivalents and Restricted Cash (Tables)

v3.25.1
Cash, Cash Equivalents and Restricted Cash (Tables)
 3 Months Ended
Mar. 31, 2025
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]  
Schedule of Restricted Cash and Cash Equivalents
The following table presents the Company’s restricted cash balances as of March 31, 2025 and December 31, 2024:
(in thousands) March 31,
2025		 December 31, 2024
Restricted cash balances held by trading counterparties:
For securities trading activity $ 700  $ 950 
For derivatives trading activity 302  43,398 
For servicing activities 64,286  49,900 
As restricted collateral for borrowings
 58,489  218,715 
Total restricted cash balances held by trading counterparties 123,777  312,963 
Restricted cash balance pursuant to letter of credit on office lease 66  65 
Total $ 123,843  $ 313,028 
Schedule of Cash, Cash Equivalents and Restricted Cash
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on the Company’s consolidated balance sheets as of March 31, 2025 and December 31, 2024 that sum to the total of the same such amounts shown in the consolidated statements of cash flows:
(in thousands) March 31,
2025		 December 31, 2024
Cash and cash equivalents $ 573,882  $ 504,613 
Restricted cash 123,843  313,028 
Total cash, cash equivalents and restricted cash $ 697,725  $ 817,641