[
  {
    "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": "defect",
    "note": "The image shows printed bullet points under the Agency Business column in the Description row: '\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": "defect",
    "note": "The image shows printed bullet points under the Structured Business column in the Highlights row: '\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": "defect",
    "note": "The image shows printed bullet points under the Agency Business column in the Highlights row: '\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: Mezzanine and Preferred Equity loans $0.5, APC $0.3, Multifamily bridge loans $7.9, SFR bridge loans $3.3",
    "status": "defect",
    "note": "The image shows a pie chart labeled '$12.0B Structured loan portfolio' with text labels identifying the portfolio components: 'Mezzanine and Preferred Equity loans $0.5', 'APC $0.3', 'Multifamily bridge loans $7.9', and 'SFR bridge loans $3.3'."
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 10,
    "table_id": "ea79061bb6be6ce0-p10-t2",
    "title": "Servicing Revenue - Based on 4/1/25 & 4/1/26",
    "row": null,
    "col": null,
    "text": "Cash/Escrow",
    "status": "header_text_dropped",
    "note": null
  },
  {
    "source": "/tmp/claude-1000/-home-mande-repo-quber/bc2f817a-5c6c-4515-9621-2302b82f7f68/scratchpad/hosted-pdfs/ea79061bb6be6ce0.pdf",
    "page": 10,
    "table_id": "ea79061bb6be6ce0-p10-t3",
    "title": "Cash/Escrow Earnings - Based on 4/1/25 & 4/1/26",
    "row": null,
    "col": null,
    "text": "Gain on Sale",
    "status": "header_text_dropped",
    "note": null
  },
  {
    "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": null,
    "col": null,
    "text": "Delinquency Rollforward",
    "status": "header_text_dropped",
    "note": null
  },
  {
    "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
  }
]