Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises

6 Months Ended

Jun. 30, 2025

Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises

Newmark uses its warehouse facilities and repurchase agreements to fund mortgage loans originated under its various lending programs. Outstanding borrowings against these lines are collateralized by an assignment of the underlying mortgages and third-party purchase commitments and are recourse only to our wholly owned subsidiary, Berkeley Point Capital, LLC.

Newmark had the following lines available and borrowings outstanding (in thousands, except the stated spread to one-month SOFR):


	Committed Lines		Uncommitted Lines		Balance at June 30, 2025		Balance at December 31, 2024		Stated Spread to One-Month SOFR	Rate Type
Warehouse facility due May 5, 2026(1)	$	450,000	$	300,000	$	39,420	$	35,841	130 bps	Variable

Warehouse facility due September 25, 2025	200,000		200,000		390,106		143,470		130 bps	Variable

Warehouse facility due October 4, 2025 (2)	900,000		600,000		861,338		416,908		130 bps	Variable

Fannie Mae repurchase agreement, open maturity	—		500,000		—		158,089		115 bps	Variable
Total	$	1,550,000	$	1,600,000	$	1,290,864	$	754,308

(1)On May 6, 2025, the warehouse line was renewed, extending the maturity date to May 5, 2026.

(2)The warehouse line was temporarily increased by $100.0 million to $900.0 million for the period June 30, 2025 to August 14, 2025.

Pursuant to the terms of the warehouse facilities, Newmark is required to meet several financial covenants. Newmark was in compliance with all covenants as of both June 30, 2025 and December 31, 2024.

The borrowing rates on the warehouse facilities are based on short-term SOFR plus applicable margins. Due to the short-term maturity of these instruments, the carrying amounts approximate fair value.