Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Company Lines Available and Borrowings Outstanding

As of September 30, 2019, Newmark had the following lines available and borrowings outstanding (in thousands):

	Committed Lines		Uncommitted Lines		Balance at September 30, 2019		Stated Spread to One Month LIBOR	Rate Type
Warehouse facility due June 17, 2020	$	450,000	$	—	$	188,507	115 bps	Variable
Warehouse facility due June 17, 2020⁽¹⁾		—		200,000		—	110 bps	Variable
Warehouse facility due September 25, 2020		200,000		—		183,694	115 bps	Variable
Warehouse facility due October 9, 2020⁽²⁾		800,000		—		145,159	115 bps	Variable
Fannie Mae repurchase agreement, open maturity		—		400,000		163,500	105 bps	Variable
Total	$	1,450,000	$	600,000	$	680,860

(1)

Effective October 2, 2019, the warehouse line was increased to $300.0 million.

(2)

On September 5, 2019, the warehouse facility was renewed, the notional amount was increased to $400.0 million, and the maturity date was extended to October 9, 2020. As of September 30, 2019, the warehouse line had a temporary increase of $400.0 million which expired on October 28, 2019.

As of December 31, 2018, Newmark had the following lines available and borrowings outstanding (in thousands):

	Committed Lines		Uncommitted Lines		Balance at December 31, 2018		Stated Spread to One Month LIBOR	Rate Type
Warehouse facility due June 19, 2019	$	450,000	$	—	$	413,063	120 bps	Variable
Warehouse facility due September 25, 2019		200,000		—		113,452	120 bps	Variable
Warehouse facility due October 10, 2019⁽¹⁾		1,000,000		—		416,373	120 bps	Variable
Fannie Mae repurchase agreement, open maturity		—		325,000		29,499	115 bps	Variable
Total	$	1,650,000	$	325,000	$	972,387

(1)

The warehouse facility was temporarily increased by $700.0 million to $1.0 billion for the period of November 30, 2018 to January 29, 2019. On January 29, 2019, the temporary increase was decreased by $400 million to $300 million for the period January 29, 2019 to April 1, 2019.