Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 109

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 8
Chunk 109
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 in the assumptions used for the default rate is accompanied by a directionally opposite change in the assumption used for the voluntary prepayment rate. For servicing rights, significant increases in the voluntary prepayment rate or discount rate in isolation would result in a significantly lower fair value measurement, while a significant increase in expected life in isolation would result in a significantly higher fair value measurement. Generally, a change in the voluntary prepayment rate is accompanied by a directionally opposite change in expected life.The aggregate fair value of loans held for sale, carried at fair value, the contractual balance (including accrued interest), and the unrealized gain were:

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(Dollars in thousands)December 31, 2024June 30, 2024Aggregate fair value$25,436 $16,482 Contractual balance25,160 15,966 Unrealized gain$276 $516 The total interest income and amount of gains and losses from changes in fair value included in earnings for loans held for sale, carried at fair value, were:For the Three Months Ended December 31,For the Six Months Ended December 31, (Dollars in thousands)2024202320242023Interest income$249 $141 $537 $330 Change in fair value(384)33 (367)(96)Total $(135)$174 $170 $234 

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Fair Value of Financial InstrumentsCarrying amounts and estimated fair values of financial instruments at December 31, 2024 and June 30, 2024 were: December 31, 2024Fair Value(Dollars in thousands)CarryingAmountLevel 1Level 2Level 3Total Fair ValueFinancial assets:Cash, cash equivalents and restricted cash$2,673,431 $2,673,431 $— $— $2,673,431 Trading securities241 — 241 — 241 Available-for-sale securities97,848 — 50,436 47,412 97,848 Stock of regulatory agencies34,298 — 34,298 — 34,298 Loans held for sale, at fair value25,436 — 25,436 — 25,436 Loans held for investment—net19,486,727 — — 19,661,657 19,661,657 Securities borrowed114,672 — — 113,565 113,565