Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises

3 Months Ended

Mar. 31, 2026

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 March 31, 2026		Balance at December 31, 2025		Stated Spread to One-Month SOFR	Rate Type
Warehouse facility due May 5, 2026 (1)	$	450,000	$	300,000	$	240,934	$	129,645	130 bps	Variable

Warehouse facility due September 25, 2026	200,000		200,000		287,984		232,356		130 bps	Variable

Warehouse facility due October 3, 2026 (2)(3)	800,000		600,000		533,710		334,642		120 bps	Variable

Fannie Mae repurchase agreement, open maturity	—		500,000		62,023		195,796		115 bps	Variable
Total	$	1,450,000	$	1,600,000	$	1,124,651	$	892,439

(1) On May 5, 2026, the warehouse line was amended and renewed, extending the maturity date to May 4, 2027 and decreasing the stated spread to 120 bps.

(2) The warehouse line was temporarily increased by $400.0 million on December 1, 2025. The temporary increase expired on January 30, 2026.

(3) The stated spread to one month SOFR was lowered to 120 bps effective January 30, 2026.

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 March 31, 2026 and December 31, 2025.

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.