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Concentrations of Credit Risk
9 Months Ended
Sep. 30, 2024
Risks and Uncertainties [Abstract]  
Concentrations of Credit Risk Concentrations of Credit Risk
The 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 20 — “Financial Guarantee Liability”). As of September 30, 2024, 19% and 13% of $9.6 billion of the maximum loss was for properties located in California and Texas, respectively. As of December 31, 2023, 20% and 12% of $9.0 billion of the maximum loss was for properties located in California and Texas, respectively.