[
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 7,
    "table_id": "ea79061bb6be6ce0-p7-t1",
    "title": "Arbor has Two Distinct Yet Complementary Business Lines",
    "row": 1,
    "col": 1,
    "text": "\u25aa Originate real estate loans and hold on balance sheet<br>\u25aa Invests in the multifamily, Single-Family Rental, and commercial real estate markets",
    "status": "unverified",
    "note": "The image shows printed bullet points in the Structured Business Description cell: '\u25aa Originate real estate loans and hold on balance sheet' and '\u25aa Invests in the multifamily, Single-Family Rental, and commercial real estate markets'."
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 7,
    "table_id": "ea79061bb6be6ce0-p7-t1",
    "title": "Arbor has Two Distinct Yet Complementary Business Lines",
    "row": 1,
    "col": 2,
    "text": "\u25aa Originate, sell, and service real estate loans for GSEs<br>\u25aa Short-term assets: Loans held-for-sale1<br>\u25aa Long-term assets: Capitalized mortgage servicing rights (\"MSRs\")2",
    "status": "unverified",
    "note": "The image shows printed bullet points in the Agency Business Description cell: '\u25aa Originate, sell, and service real estate loans for GSEs', '\u25aa Short-term assets: Loans held-for-sale\u00b9', and '\u25aa Long-term assets: Capitalized mortgage servicing rights (\"MSRs\")\u00b2'."
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 7,
    "table_id": "ea79061bb6be6ce0-p7-t1",
    "title": "Arbor has Two Distinct Yet Complementary Business Lines",
    "row": 2,
    "col": 1,
    "text": "\u25aa Best-in-class balance sheet loan origination business<br>\u25aa Strong risk-adjusted returns<br>\u25aa Proprietary Single-Family Rental platform<br>\u25aa Weighted average of ~21 months to maturity3",
    "status": "unverified",
    "note": "The image shows printed bullet points in the Structured Business Highlights cell: '\u25aa Best-in-class balance sheet loan origination business', '\u25aa Strong risk-adjusted returns', '\u25aa Proprietary Single-Family Rental platform', and '\u25aa Weighted average of ~21 months to maturity\u00b3'."
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 7,
    "table_id": "ea79061bb6be6ce0-p7-t1",
    "title": "Arbor has Two Distinct Yet Complementary Business Lines",
    "row": 2,
    "col": 2,
    "text": "\u25aa Capital-light business<br>\u25aa High barriers to entry<br>\u25aa Visibility on prepayment protected annual servicing fee revenue of ~$129M4<br>\u25aa Weighted average life of portfolio of ~6 years",
    "status": "unverified",
    "note": "The image shows printed bullet points in the Agency Business Highlights cell: '\u25aa Capital-light business', '\u25aa High barriers to entry', '\u25aa Visibility on prepayment protected annual servicing fee revenue of ~$129M\u2074', and '\u25aa Weighted average life of portfolio of ~6 years'."
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 7,
    "table_id": "ea79061bb6be6ce0-p7-t1",
    "title": "Arbor has Two Distinct Yet Complementary Business Lines",
    "row": 3,
    "col": 1,
    "text": "$12.0B Structured loan portfolio: APC $0.3, Multifamily bridge loans $7.9, SFR bridge loans $3.3, Mezzanine and Preferred Equity loans $0.5",
    "status": "unverified",
    "note": "The image shows a pie chart labeled '$12.0B Structured loan portfolio' with breakdown text: 'APC $0.3', 'Multifamily bridge loans $7.9', 'SFR bridge loans $3.3', and 'Mezzanine and Preferred Equity loans $0.5'."
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 7,
    "table_id": "ea79061bb6be6ce0-p7-t1",
    "title": "Arbor has Two Distinct Yet Complementary Business Lines",
    "row": 3,
    "col": 2,
    "text": "$36.3B GSE servicing portfolio: Fannie Mae $24.3, Freddie Mac $7.4, Private Label $2.5, Other $2.1",
    "status": "unverified",
    "note": "The image shows a pie chart labeled '$36.3B GSE servicing portfolio' with breakdown text: 'Fannie Mae $24.3', 'Freddie Mac $7.4', 'Private Label $2.5', and 'Other $2.1'."
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 7,
    "table_id": "ea79061bb6be6ce0-p7-t1",
    "title": "Arbor has Two Distinct Yet Complementary Business Lines",
    "row": 4,
    "col": 2,
    "text": "% of LTM Agency Net Revenue5<br>\u25aa Servicing fees4 43%<br>\u25aa Gain on sale of loans1,6 24%<br>\u25aa Interest earned on escrows 17%<br>\u25aa Interest income on loans held-for-sale1 16%",
    "status": "unverified",
    "note": "The image shows printed text in the Agency Business Income streams cell: '% of LTM Agency Net Revenue\u2075' as a header, followed by bullet points '\u25aa Servicing fees\u2074 43%', '\u25aa Gain on sale of loans\u00b9,\u2076 24%', '\u25aa Interest earned on escrows 17%', and '\u25aa Interest income on loans held-for-sale\u00b9 16%'."
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 7,
    "table_id": "ea79061bb6be6ce0-p7-t1",
    "title": "Arbor has Two Distinct Yet Complementary Business Lines",
    "row": null,
    "col": null,
    "text": "1",
    "status": "footnote_marker_unplaced",
    "note": null
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 7,
    "table_id": "ea79061bb6be6ce0-p7-t1",
    "title": "Arbor has Two Distinct Yet Complementary Business Lines",
    "row": null,
    "col": null,
    "text": "2",
    "status": "footnote_marker_unplaced",
    "note": null
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 7,
    "table_id": "ea79061bb6be6ce0-p7-t1",
    "title": "Arbor has Two Distinct Yet Complementary Business Lines",
    "row": null,
    "col": null,
    "text": "3",
    "status": "footnote_marker_unplaced",
    "note": null
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 7,
    "table_id": "ea79061bb6be6ce0-p7-t1",
    "title": "Arbor has Two Distinct Yet Complementary Business Lines",
    "row": null,
    "col": null,
    "text": "4",
    "status": "footnote_marker_unplaced",
    "note": null
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 7,
    "table_id": "ea79061bb6be6ce0-p7-t1",
    "title": "Arbor has Two Distinct Yet Complementary Business Lines",
    "row": null,
    "col": null,
    "text": "5",
    "status": "footnote_marker_unplaced",
    "note": null
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  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 7,
    "table_id": "ea79061bb6be6ce0-p7-t1",
    "title": "Arbor has Two Distinct Yet Complementary Business Lines",
    "row": null,
    "col": null,
    "text": "6",
    "status": "footnote_marker_unplaced",
    "note": null
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  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 7,
    "table_id": "ea79061bb6be6ce0-p7-t1",
    "title": "Arbor has Two Distinct Yet Complementary Business Lines",
    "row": null,
    "col": null,
    "text": "1,6",
    "status": "footnote_marker_unplaced",
    "note": null
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 14,
    "table_id": "ea79061bb6be6ce0-p14-t1",
    "title": "PORTFOLIO OVERVIEW",
    "row": 0,
    "col": 0,
    "text": "Item",
    "status": "header_label_added",
    "note": "The image shows no printed text at the position where a header over the left column would appear; the table begins directly with row labels like 'Total Portfolio'."
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 14,
    "table_id": "ea79061bb6be6ce0-p14-t1",
    "title": "PORTFOLIO OVERVIEW",
    "row": 0,
    "col": 1,
    "text": "Value",
    "status": "unverified",
    "note": "The image shows no printed text at the position where a header over the right column would appear; the table begins directly with data values like '$12.0B'."
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 15,
    "table_id": "ea79061bb6be6ce0-p15-t1",
    "title": "Non-Performing Assets - 2025-2026",
    "row": 12,
    "col": 7,
    "text": "$ 520,766 1",
    "status": "defect",
    "note": "The REO Rollforward Ending Balance row for 1Q26 shows '$ 520,766' with a superscript '1' printed after it."
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 17,
    "table_id": "ea79061bb6be6ce0-p17-t1",
    "title": "Allowance for Credit Losses - Structured Business",
    "row": null,
    "col": null,
    "text": "5.7%",
    "status": "header_text_dropped",
    "note": null
  }
]