Quarterly report [Sections 13 or 15(d)]

Cash, Cash Equivalents and Restricted Cash (Tables)

v3.25.3
Cash, Cash Equivalents and Restricted Cash (Tables)
 9 Months Ended
Sep. 30, 2025
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation [Abstract]  
Schedule of Restricted Cash and Cash Equivalents
The following table presents the Company’s restricted cash balances as of September 30, 2025 and December 31, 2024:
(in thousands) September 30,
2025		 December 31,
2024
Restricted cash balances held by trading counterparties:
For securities trading activity $ 350  $ 950 
For derivatives trading activity 50,827  43,398 
For servicing activities 46,730  49,900 
As restricted collateral for borrowings
 18,414  218,715 
Total restricted cash balances held by trading counterparties 116,321  312,963 
Restricted cash balance pursuant to letter of credit on office lease 67  65 
Total $ 116,388  $ 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 September 30, 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) September 30,
2025		 December 31,
2024
Cash and cash equivalents $ 770,533  $ 504,613 
Restricted cash 116,388  313,028 
Total cash, cash equivalents and restricted cash $ 886,921  $ 817,641