CONCENTRATIONS

12 Months Ended

Dec. 31, 2025

Risks and Uncertainties [Abstract]

CONCENTRATIONS

21. 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 December 31, 2025, there were two accounts that exceeded the limit by $2.6 million. As of December 31, 2024, there was two accounts that exceeded the limit by $2.4 million.

The Company previously 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 13 – Warehouse Lines 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.

The Company sold its mortgage loans to nine and seven investors for the year ended December 31, 2025 and the period October 8, 2024 – December 31, 2024, respectively.

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 $0.6 million as of December 31, 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.