ABR — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-10-30

• •Closed a collateralized securitization vehicle (CLO 22) totaling $825.0 million, of which $730.1 million consisted of investment grade notes and $112.4 million of subordinate interests, including $17.5 million of the investment grade notes were retained by us; and

• •Issued $375.0 million of 6.25% Convertible Notes due in 2029 and used the net proceeds to repurchase $114.3 million of our common stock, including $102.7 million through a prepaid forward transaction, and used the remaining proceeds, together with cash on hand, to redeem our outstanding $270.0 mill…

• •We sold five existing REO properties for $40.2 million and recognized an aggregate gain of $1.6 million and foreclosed on and took back the underlying collateral on one loan with a net carrying value of $13.0 million.

• Suspension of Common Stock Dividend. In October 2026, our Board of Directors elected to suspend the quarterly common stock dividend effective immediately as part of our strategy to preserve capital and maintain financial flexibility to address upcoming debt maturities and support the resolution of l…

• heightened immigration enforcement activity, which has adversely affected property cash flows and borrower payment performance. We continue to assess the extent and duration of these property specific effects.

Text removed vs the prior filing · source: 10-Q · 2026-07-31

• •Unwound CLO 17, redeeming the remaining outstanding notes totaling $787.0 million, which were repaid from the availability in our credit and repurchase facilities; and

• •We repurchased 3,550,691 shares of our common stock under our share repurchase program at a cost of $20.8 million, excluding broker commission fees, representing an average cost of $5.85 per share.

• •We foreclosed on and took back the underlying collateral on five loans with an aggregate net carrying value of $110.1 million and recorded a loss of $2.5 million through provision for credit losses. We sold two foreclosed properties, along with three existing REO assets for $79.8 million and recogn…

• Subsequent Event. In July 2026, we issued $375.0 million of 6.25% Convertible Notes due July 2029. We used the net proceeds to repurchase 2,140,300 shares of our common stock for $11.6 million, repurchase $102.7 million of our common stock pursuant to a prepaid forward transaction and used the remai…

• An elevated rate environment generally benefits our net interest income because our structured loan portfolio exceeds our corresponding debt balances, the substantial majority of our loan portfolio is floating rate based on SOFR and a meaningful portion of our debt, including senior unsecured notes,…

Text added vs the prior filing · source: 10-Q · 2026-10-30

• Impact to net interest income from loans and investments3,877 9,662 2,251 15,950

• (1)Represents the UPB of our structured loan portfolio, the principal balance of our debt and the account balances of our cash, restricted cash and escrows at September 30, 2026.

• (2)Our cash, restricted cash and escrows are currently earning interest at a weighted average blended rate of approximately 3.5%, or approximately $69 million annually. Interest income earned on our cash and restricted cash is included as a component of interest income and interest income earned on …

• We entered into treasury futures to hedge our exposure to changes in interest rates inherent in (1) our held-for-sale Agency Business Private Label loans from the time the loans are rate locked until sale and securitization, and (2) our Agency Business SFR – fixed rate loans from the time the loans …

• Our Agency Business originates, sells and services a range of multifamily finance products with Fannie Mae, Freddie Mac and HUD. Our loans held-for-sale to these agencies are not currently exposed to interest rate risk during the loan commitment, closing and delivery process. The sale or placement o…

Text removed vs the prior filing · source: 10-Q · 2026-07-31

• (1)Represents the UPB of our structured loan portfolio, the principal balance of our debt and the account balances of our cash, restricted cash and escrows at June 30, 2026.

• (2)Our cash, restricted cash and escrows are currently earning interest at a weighted average blended rate of approximately 3.3%, or approximately $55 million annually. Interest income earned on our cash and restricted cash is included as a component of interest income and interest income earned on …

• We entered into treasury futures to hedge our exposure to changes in interest rates inherent in (1) our held-for-sale Agency Business Private Label loans from the time the loans are rate locked until sale and securitization, and (2) our Agency Business SFR – fixed rate loans from the time the loans …

• Our Agency Business originates, sells and services a range of multifamily finance products with Fannie Mae, Freddie Mac and HUD. Our loans held-for-sale to these agencies are not currently exposed to interest rate risk during the loan commitment, closing and delivery process. The sale or placement o…

• In addition, the fair value of our MSRs is subject to market risk since a significant driver of the fair value of these assets is the discount rates. A 100 basis point increase in the weighted average discount rate would decrease the fair value of our MSRs by $12.1 million at June 30, 2026, while a …

Text added vs the prior filing · source: 10-Q · 2026-10-30

• Rule 10b5-1 Plan Elections. During the period covered by this report, no Arbor director or officer adopted, modified or terminated any "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408 of Regulation S-K.

• Supplement to U.S. Federal Income Tax Considerations. The following summary of certain U.S. federal income tax considerations supplements the discussion set forth under the heading “U.S. Federal Income Tax Considerations” in the shelf registration statement on Form S-3ASR filed with the SEC on May 3…

Text removed vs the prior filing · source: 10-Q · 2026-07-31

• Share Repurchases. We have a share repurchase program providing for the repurchase of up to $150.0 million of our outstanding common stock. The repurchase of our common stock may be made from time to time in the open market, through privately negotiated transactions, or otherwise in compliance with …

• During the period covered by this report, no Arbor director or officer adopted, modified or terminated any "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408 of Regulation S-K.

• The following table sets forth all common stock purchases made by or on behalf of us and any “affiliated purchaser,” as defined in Rule 10b-18(a)(3) under the Exchange Act, during each of the indicated periods ($ in thousands, except share and per share data).

• PeriodTotal Number of Shares PurchasedAverage Price Paid Per Share (1)Total Number of Shares Purchased as Part of a Publicly Announced ProgramApproximate Dollar Value of Shares that May Yet Be Purchased Under the Program

• Supplement to U.S. Federal Income Tax Considerations. The following summary of certain U.S. federal income tax considerations supplements the discussion set forth under the heading “U.S. Federal Income Tax Considerations” in the shelf registration statement on Form S-3ASR filed with the Securities a…