Quarterly report [Sections 13 or 15(d)]

Cash, Cash Equivalents and Restricted Cash (Tables)

v3.26.1
Cash, Cash Equivalents and Restricted Cash (Tables)
 3 Months Ended
Mar. 31, 2026
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 March 31, 2026 and December 31, 2025:
(in thousands) March 31,
2026		 December 31,
2025
Restricted cash balances held by trading counterparties:
For securities trading activity $ 350  $ 350 
For derivatives trading activity 98,429  50,094 
For servicing activities 44,096  60,398 
As restricted collateral for borrowings
 140,899  108,723 
Total restricted cash balances held by trading counterparties 283,774  219,565 
Restricted cash balance pursuant to letter of credit on office lease 68  68 
Total $ 283,842  $ 219,633 
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, 2026 and December 31, 2025 that sum to the total of the same such amounts shown in the consolidated statements of cash flows:
(in thousands) March 31,
2026		 December 31,
2025
Cash and cash equivalents $ 476,307  $ 842,319 
Restricted cash 283,842  219,633 
Total cash, cash equivalents and restricted cash $ 760,149  $ 1,061,952