SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2025

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

20.  SUBSEQUENT EVENTS

In October 2025, the Company completed and closed three securitizations of residential mortgage loans: OBX 2025-NQM18, with a face value of $743.2 million and OBX 2025-J3, with a face value of $359.4 million, and OBX 2025-NQM19, with a face value of $707.2 million. These securitizations represent financing transactions which provided non-recourse financing to the Company collateralized by residential mortgage loans purchased by the Company.