Company: ABR-PF
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001628280-25-007183
Chunk: 83

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 83
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,049 7.00 %Credit and repurchase facilities2,827,184 235,909 8.32 %3,185,888 251,519 7.89 %Unsecured debt1,564,112 98,187 6.26 %1,658,986 103,147 6.22 %Q Series securitization172,965 14,230 8.20 %229,734 17,158 7.47 %Trust preferred154,336 13,205 8.53 %154,336 12,729 8.25 %Total interest-bearing liabilities$10,481,556 781,668 7.44 %$12,310,538 880,602 7.15 %Net interest income$331,095 $398,831 

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(1)Based on UPB for loans, amortized cost for securities and principal amount for debt.

(2)Weighted average yield calculated based on annualized interest income or expense divided by average carrying value.

Net Interest Income

The decrease in interest income was mainly due to a $166.7 million decrease from our Structured Business. The decline was primarily from a decrease in the average balance of our core interest-earning assets as loan runoff exceeded loan originations, as well as a decrease in the average yield on core interest-earning assets from a rise in non-performing and other non-accrued loans.

The decrease in interest expense was mainly due to a $98.9 million decrease from our Structured Business, primarily due to a decline in the average balance of our interest-bearing liabilities from loan runoff and note paydowns in our securitizations and senior unsecured notes, partially offset by an increase in the average cost of interest-bearing liabilities, mainly from lower rate debt tranches being paid down from CLO runoff.

Agency Business Revenue

The increase in gain on sales, including fee-based services, net was primarily due to a 10% increase in the sales margin from 1.48% to 1.63%, partially offset by a 6% decrease in loan sales volume ($279.5 million).

The decrease in income from MSRs was primarily due to a 15% decrease in loan commitment volume ($763.2 million) and a 14% decrease in the MSR rate from 1.34% to 1.15%. The decrease in the