| Schedule of Components of Interest Income and Interest Expense |
The following table details the components of the Company's interest income and interest expense for the years ended December 31, 2025, 2024 and 2023, respectively (dollar amounts in thousands): | | | | | | | | | | | | | | | | | | | For the Years Ended December 31, | | 2025 | | 2024 | | 2023 | | Interest income | | | | | | | Investment securities available for sale | $ | 316,737 | | | $ | 163,977 | | | $ | 57,514 | | Residential loans | | | | | | | Residential loans | 34,347 | | | 50,266 | | | 54,188 | | | Consolidated SLST | 50,970 | | | 39,194 | | | 34,061 | | | Residential loans held in securitization trusts | 179,178 | | | 129,905 | | | 97,492 | | Total residential loans | 264,495 | | | 219,365 | | | 185,741 | | | Residential loans held for sale | 5,244 | | | — | | | — | | Multi-family loans | 8,528 | | | 10,589 | | | 10,519 | | Other | 6,944 | | | 7,349 | | | 4,886 | | | Total interest income | 601,948 | | | 401,280 | | | 258,660 | | | Interest expense | | | | | | Repurchase agreements and warehouse facilities | 253,960 | | | 183,285 | | | 91,814 | | Collateralized debt obligations | | | | | | | Consolidated SLST | 37,547 | | | 26,491 | | | 24,506 | | | Residential loan securitizations | 127,333 | | | 91,884 | | | 65,184 | | | Non-Agency RMBS re-securitization | 5,007 | | | 2,221 | | | — | | Total collateralized debt obligations | 169,887 | | | 120,596 | | | 89,690 | | | Senior unsecured notes | 24,998 | | | 9,308 | | | 6,476 | | | Subordinated debentures | 3,802 | | | 4,236 | | | 4,154 | | | Total interest expense | 452,647 | | | 317,425 | | | 192,134 | | | Net interest income | $ | 149,301 | | | $ | 83,855 | | | $ | 66,526 | |
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