Company: ABR-PF
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021683
Chunk: 150

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 150
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2024, including the accretion of a portion of the discount deemed collectible. Approximately $192.8 million is estimated to mature in five to ten years.Agency B Piece Bonds. Freddie Mac may choose to hold, sell or securitize loans we sell to them under the Freddie Mac SBL program. As part of the securitizations under the SBL program, we have the ability to purchase the B Piece bond through a bidding process, which represents the bottom 10%, or highest risk, of the securitization. At March 31, 2025, we held 49%, or $106.2 million initial face value, of seven B Piece bonds, which were previously purchased at a discount for $74.7 million, and sold the remaining 51% to a third party. These securities are collateralized by a pool of multifamily mortgage loans, bear interest at an initial weighted average variable rate of 3.74% and have an estimated weighted average remaining maturity of 12.9 years. The weighted average effective interest rate was 11.83% and 11.76% at March 31, 2025 and December 31, 2024, respectively, including the accretion of a portion of the discount deemed collectible. Approximately $37.2 million is estimated to mature after ten years.A summary of our securities held-to-maturity is as follows (in thousands):Face ValueNet CarryingValueUnrealizedGain (Loss)EstimatedFair Value Allowance forCredit LossesMarch 31, 2025APL certificates$192,791 $136,254 $(19,134)$117,120 $1,659 B Piece bonds37,170 22,404 9,759 32,163 9,108 Total$229,961 $158,658 $(9,375)$149,283 $10,767 December 31, 2024APL certificates$192,791 $134,834 $(22,803)$112,031 $1,658 B Piece bonds37,221 22,320 10,157 32,477 9,188 Total$230,012 $157,154 $(12,646)$144,508 $10,846 

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Table of ContentsARBOR REALTY TRUST, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Un