v3.25.4
Mortgage Servicing Rights (Tables)
 12 Months Ended
Dec. 31, 2025
Transfers and Servicing [Abstract]  
Schedule of Activity Related to MSRs
The following table presents activity related to MSRs for the years ended December 31, 2025 and 2024, respectively (dollar amounts in thousands). The Company did not have MSRs for the year ended December 31, 2023.

For the Years Ended December 31,
20252024
Balance at beginning of period
$21,003 $— 
Additions:
MSRs received from equity investment in Constructive3,405 10,917 
MSRs acquired through business combination141 — 
Purchases of MSRs
— 9,470 
Changes in fair value due to:
Changes in valuation inputs or assumptions used in valuation model
(1,553)912 
Other changes in fair value, including runoff
(2,103)(296)
Balance at end of period
$20,893 $21,003 
Schedule of Servicing Income
The following table presents the components of servicing fee income recognized during the years ended December 31, 2025 and 2024, respectively (dollar amounts in thousands). Servicing fee income is included in other income on the accompanying consolidated statements of operations.

For the Years Ended December 31,
20252024
Servicing fees
$5,084 $516 
Prepayment fees
2,743 352 
Ancillary and other fee income (1)
209 38 
Servicing fee income
$8,036 $906 

(1)Includes default interest and late fee collections.