CONCENTRATIONS

9 Months Ended

Sep. 30, 2025

Risks and Uncertainties [Abstract]

CONCENTRATIONS

17. CONCENTRATIONS

The Company maintains cash balances with several regional banks. The deposits are insured by the Federal Deposit Insurance Corporation up to $250,000 per depositor per bank. At various times throughout the year, cash balances held within these accounts may exceed the maximum insured amounts. As of September 30, 2025, there was one account that exceeded the limit by $1.0 million. As of December 31, 2024, there was one account that exceeded the limit by $0.5 million.

The Company relied on one lender for the warehouse line it uses to fund the mortgage loans it makes to its customers, which was limited to a maximum of $5.0 million, see Note 10 – Warehouse Line of Credit. In October 2025, the Company expanded its warehouse lines to $25.0 million tripling its prior $5.0 million line to $15.0 million and adding two new $5.0 million lines with new lenders, see Note 20 – Subsequent Events.

The Company sold its mortgage loans to six investors for the nine months ended September 30, 2025.

Escrows Payable

As a service to its clients, the Company administers escrow deposits representing undisbursed amounts received for payment of settlement and title services. Escrow deposits held by the Company was $1.1 million as of September 30, 2025. These amounts are not considered assets of the Company and, therefore, are excluded from the consolidated balance sheets. The Company remains contingently liable for the disposition of these deposits.