{ "markdown": "Annuity Based Business Model Drives Diversified\nIncome Streams\n\n\n
\n\nThe figure presents a set of three grouped bar charts under the title 'Significant Long-Dated, Predictable Annual Cash Flow'. Each chart displays financial projections for two consecutive years (1/1/2025 and 1/1/2026, or 4/1/2025 and 4/1/2026) along with relevant underlying data metrics below each chart.
CategoryPeriod 1Period 1 ValuePeriod 2Period 2 ValueAdditional Data
Net Interest Income1/1/2025$255M1/1/2026$158MBased on: 4/1/25, 4/1/26; Asset Bal.: $11.5B, $12.0B; Asset Rate: 7.85%, 7.03%; Debt Bal.: $9.5B, $10.7B; Debt Rate: 6.82%, 6.40%
Servicing Revenue4/1/2025$126M4/1/2026$129MBased on: 4/1/25, 4/1/26; Servicing Portfolio: $33.5B, $36.3B; Servicing Rate: 0.375%, 0.355%
Cash/Escrow Earnings4/1/2025$66M4/1/2026$66MBased on: 4/1/25, 4/1/26; Cash/Escrow Balance: $1.6B, $2.0B; Earnings Rate: 4.02%, 3.30%
\n\n
\n\nThe figure is a stacked bar chart titled 'Other Diversified Platform Income Sources' that compares income sources across three time periods: 2024, 2025, and 1Q26. The bars are segmented into two categories: 'Gain on Sale' (dark green) and 'Equity Investments' (tan). The total values for each year are labeled above the bars: $81M for 2024, $122M for 2025, and $17M for 1Q26. A legend is provided to the right of the bars. Below the chart, a summary table provides the specific breakdown for each category and time period.
Category202420251Q26
Gain on Sale$75M$71M$13M
Equity Investments$6M$51M$4M
\n\nSource: Company filings (As of March 31, 2026)\n 1) Annualized based on March 31, 2025 and 2026 portfolio and debt balances, which may not be indicative of actual results\n 2) Structured business only; does not include interest income from Agency loans held-for-sale\n 3) Asset and debt rates reflect \u201call in\u201d amounts, which include certain fees and costs\n\n\n[Vertical bar graph icon]\n\n\n10\n\n", "structure": { "type": "document", "markdown": null, "children": [ { "type": "page", "page": null, "span": null, "width": null, "height": null, "dpi": null, "grounding": { "page": 1, "range": { "start": 0, "end": 2461 }, "box": { "xmin": 0.0, "ymin": 0.0, "xmax": 1.0, "ymax": 1.0 } }, "markdown": null, "status": "ok", "reason": null, "children": [ { "type": "text", "id": "text-0", "span": null, "grounding": { "page": 1, "range": { "start": 0, "end": 63 }, "box": { "xmin": 0.02737, "ymin": 0.01884, "xmax": 0.78419, "ymax": 0.11462 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 0, "end": 48 }, "box": { "xmin": 0.03385, "ymin": 0.01954, "xmax": 0.78254, "ymax": 0.06908 } }, { "page": 1, "range": { "start": 48, "end": 63 }, "box": { "xmin": 0.04154, "ymin": 0.06905, "xmax": 0.29524, "ymax": 0.11168 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null }, { "type": "figure", "id": "figure-0", "span": null, "grounding": { "page": 1, "range": { "start": 65, "end": 1235 }, "box": { "xmin": 0.01277, "ymin": 0.20554, "xmax": 0.71233, "ymax": 0.86102 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 65, "end": 1235 }, "box": { "xmin": 0.01277, "ymin": 0.20554, "xmax": 0.71233, "ymax": 0.86102 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null }, { "type": "figure", "id": "figure-1", "span": null, "grounding": { "page": 1, "range": { "start": 1237, "end": 2071 }, "box": { "xmin": 0.71272, "ymin": 0.20634, "xmax": 0.99521, "ymax": 0.85798 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 1237, "end": 2071 }, "box": { "xmin": 0.71272, "ymin": 0.20634, "xmax": 0.99521, "ymax": 0.85798 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null }, { "type": "text", "id": "text-1", "span": null, "grounding": { "page": 1, "range": { "start": 2073, "end": 2426 }, "box": { "xmin": 0.04348, "ymin": 0.89994, "xmax": 0.56975, "ymax": 0.97094 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 2073, "end": 2120 }, "box": { "xmin": 0.04538, "ymin": 0.90264, "xmax": 0.24323, "ymax": 0.92009 } }, { "page": 1, "range": { "start": 2120, "end": 2243 }, "box": { "xmin": 0.04578, "ymin": 0.92057, "xmax": 0.56872, "ymax": 0.93677 } }, { "page": 1, "range": { "start": 2243, "end": 2338 }, "box": { "xmin": 0.045, "ymin": 0.93668, "xmax": 0.44844, "ymax": 0.9519 } }, { "page": 1, "range": { "start": 2338, "end": 2426 }, "box": { "xmin": 0.04482, "ymin": 0.95155, "xmax": 0.40904, "ymax": 0.96713 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null }, { "type": "logo", "id": "logo-0", "span": null, "grounding": { "page": 1, "range": { "start": 2428, "end": 2454 }, "box": { "xmin": 0.87239, "ymin": 0.94117, "xmax": 0.92084, "ymax": 0.99268 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 2428, "end": 2454 }, "box": { "xmin": 0.87366, "ymin": 0.94316, "xmax": 0.91792, "ymax": 0.9912 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null }, { "type": "marginalia", "id": "marginalia-0", "span": null, "grounding": { "page": 1, "range": { "start": 2456, "end": 2459 }, "box": { "xmin": 0.93969, "ymin": 0.96048, "xmax": 0.95736, "ymax": 0.98109 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 2456, "end": 2459 }, "box": { "xmin": 0.94124, "ymin": 0.96364, "xmax": 0.95542, "ymax": 0.9787 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null } ] } ] }, "grounding": null, "metadata": { "req_id": null, "job_id": "parse-01m2p7mczpj0kqnfsx4b7cenvd", "model_version": "dpt-3-pro-20260710", "page_count": 1, "markdown_chars": null, "output_markdown_chars": 2508, "range_units": "unicode_codepoints", "openapi_spec": "https://api.ade.landing.ai/openapi.json", "failed_pages": [], "duration_ms": 8169, "billing": { "service_tier": "standard", "total_credits": 1.2 } } }