Company: PGYWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001883085-25-000169
Chunk: 20

Company: Pagaya Technologies Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 sets forth gross proceeds and related investment gains (losses), as well as losses on write-downs and the allowance for credit losses of securities, for the periods indicated (in thousands):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Investments in loans and securities:Proceeds from sales/maturities/prepayments$70,676 $30,925 $129,350 $75,779 Gross investment gains from sales and maturities$(2,796)$— $(8,690)$— Write-offs charged against the allowance$157 $850 $593 $2,299 Reductions (additions) to allowance for credit losses$(28,506)$(53,062)$14,832 $(79,913)The following tables set forth the activity in the allowance for credit losses for investments in loans and securities, as of the dates indicated (in thousands):

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Three Months Ended June 30, 2025Securitization notesSecuritization certificatesOther Loans and ReceivablesTotalBalance, beginning of period$(2,873)$(462,436)$(1,211)$(466,520)Additions to allowance for credit losses not previously recorded— (22,594)— (22,594)Additions (reductions) on securities with previous allowance— (5,866)(46)(5,912)Write-offs charged against the allowance— — 157 157 Balance, end of period$(2,873)$(490,896)$(1,100)$(494,869)Six Months Ended June 30, 2025Securitization notesSecuritization certificatesOther Loans and ReceivablesTotalBalance, beginning of period$— $(508,741)$(1,553)$(510,294)Additions to allowance for credit losses not previously recorded(2,873)(46,152)— (49,025)Reductions for securities sold during the period— 78,355 — 78,355 Additions (reductions) on securities with previous allowance— (14,358)(140)(14,498)Write-offs charged against the allowance— — 593 593 Balance, end of period$(2,873)$(490,896)$(1,100)$(494,869)Three Months Ended June 30, 2024Securitization notesSec