GPMT — what changed in the latest 10-Q
A section-by-section comparison of GPMT's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-05 vs the prior 10-Q · 2026-05-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +60 | −57 | ~53 | 71 |
| Market risk (Item 3) | Text added/removed | +1 | −1 | ~5 | 21 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-05
•Generated Distributable (Loss) to common stockholders of $(37.7) million, or $(0.79) per basic share, which includes $(29.7) million in write-offs and $(3.1) million in discounts on participations sold and excludes $(47.0) million in provision for credit losses, $(6.1) million of impairment loss on…
•Extended the maturity of the Citibank repurchase facility to April 2027.
•Extended the maturity of the Morgan Stanley repurchase facility to June 2027.
•Extended the maturity of the secured credit facility to December 2027 and reduced the financing spread by 25 basis points.
•At June 30, 2026, carried unrestricted cash of $58.5 million, a portion of which is subject to certain liquidity covenants.
Text removed vs the prior filing · source: 10-Q · 2026-05-05
During the past year, the U.S. presidential administration initiated significant changes to U.S. tariff policy, with the specific policies changing multiple times. The announcements of these changes had and continue to have global repercussions, causing capital market uncertainty worldwide. The impa…
•Generated Distributable (Loss) to common stockholders of $(3.0) million, or $(0.06) per basic share, which excludes $0.2 million in benefit from credit losses, $(0.9) million of equity compensation expense and $(2.0) million of depreciation and amortization on REO.
•Repurchased 172,313 shares of common stock at a weighted average purchase price of $1.74 for an aggregate purchase amount of $0.3 million.
•Repaid $91.6 million of borrowings under the JP Morgan repurchase facility, resulting in a 0.61% reduction of the weighted average cost of funds of repurchase agreements.
•At March 31, 2026, carried unrestricted cash of $43.6 million, a portion of which is subject to certain liquidity covenants.
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-08-05
This risk is partially mitigated by various factors we consider during our rigorous underwriting and loan structuring process, which in certain cases include a requirement for our borrower to purchase an interest rate cap contract.
Text removed vs the prior filing · source: 10-Q · 2026-05-05
As a REIT, we are required to distribute a significant portion of our taxable income annually, which constrains our ability to accumulate significant operating cash flow and therefore requires us to utilize capital markets, both debt and equity, to finance
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice