XML 40 R30.htm IDEA: XBRL DOCUMENT v3.23.2
Concentrations of Credit Risk
6 Months Ended
Jun. 30, 2023
Risks and Uncertainties [Abstract]  
Concentrations of Credit Risk Concentrations of Credit RiskThe lending activities of Newmark create credit risk in the event that counterparties do not fulfill their contractual payment obligations. In particular, Newmark is exposed to credit risk related to the Fannie Mae DUS and Freddie Mac TAH loans (see Note 21 — “Financial Guarantee Liability”). As of June 30, 2023, 20% and 12% of $8.6 billion of the maximum loss was for properties located in California and Texas, respectively. As of December 31, 2022, 20% and 11% of $8.4 billion of the maximum loss was for properties located in California and Texas, respectively.