Company: ABR-PF
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001253986-25-000014
Chunk: 62

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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 days past due— (82,290)Loans modified or paid off (1)(47,675)(86,165)Loans transferred to REO(48,500)(48,500)Additional loans that are now less than 60 days past due experiencing late and partial payments10,264 106,439 Ending balance (3 multifamily bridge loans)$56,912 $56,912 Three Months Ended June 30, 2024Six Months Ended June 30, 2024Beginning balance (12 and 24 multifamily bridge loans)$489,438 $956,917 Loans that progressed to greater than 60 days past due(263,990)(438,850)Loans modified or paid off (1)(138,548)(851,470)Additional loans that are now less than 60 days past due experiencing late and partial payments281,038 701,341 Ending balance (14 multifamily bridge loans)$367,938 $367,938 ________________________(1)The modifications included bringing the loans current by paying past due interest owed (see Loan Modifications section below).We recorded interest income on non-performing and other non-accrual loans of $4.1 million and $9.9 million during the three and six months ended June 30, 2025, respectively, and $7.9 million and $16.6 million during the three and six months ended June 30, 2024, respectively.In addition, we have six loans with a carrying value totaling $121.4 million at June 30, 2025, that are collateralized by a land development project. The loans do not carry a current pay rate of interest, however, five of the loans with a carrying value totaling $112.1 million entitle us to a weighted average accrual rate of interest of 9.95%. In 2008, we suspended the recording of the accrual rate of interest on these loans, as they were impaired and we deemed the collection of this interest to be doubtful. At both June 30, 2025 and December 31, 2024, we had a cumulative allowance for credit losses of $71.4 million related to these loans. The loans are subject to certain risks associated with a development project including, but not limited to, availability of construction financing, increases in projected construction costs, demand for the development’s outputs upon completion of the project, and litigation risk. Additionally, these loans were not