Company: NEWTP
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050582
Chunk: 329

Company: NewtekOne, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 329
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LowMedianYear ended December 31, 2023110.20 %114.04 %106.00 %110.42 %Year ended December 31, 2024110.97 %114.80 %107.18 %111.19 %Three months ended September 30, 2025110.21 %112.59 %108.31 %110.16 %Weighted Average110.59 %114.80 %106.00 %110.80 %

Net (Loss) Gain on Residuals in Securitizations

Net (loss) gain on residuals in securitizations for the three months ended September 30, 2025 were $(1.5) million. There were no net gains on residuals in securitizations for the three months ended September 30, 2024. This resulted from the Company’s equity interest in the 2025-1 Securitization Trust which closed on April 23, 2025. To consummate the transaction, $216.6 million of ALP loans held for sale at fair value were sold into the securitization trust at par. This resulted in $35.4 million of previously recorded gains on ALP loans under the fair value option to be reversed, which was a large driver of the change described in the section below. The residual in the securitization (represented by the ownership certificate) was then valued resulting in a gain that was netted against the transaction costs. Refer to NOTE 3—SECURITIZATIONS AND VARIABLE INTEREST ENTITIES in the accompanying notes to the consolidated financial statements for additional information.

Net Gain (Loss) on Loans Accounted for Under the Fair Value Option

Net gain (loss) on loans accounted for under the fair value option for the three months ended September 30, 2025 and 2024 were as follows:

For the three months endedSeptember 30, 2025September 30, 2024ChangeSBA 7(a) Unguaranteed Loans$(3,319)$(11,538)$8,219 SBA 7(a) Guaranteed Loans11,484 300 11,184 SBA 504 and Non-SBA Loans21,085 7,153 13,932 Net Gain (Loss) on Loans Accounted for Under the Fair Value Option$29,250 $(4,085)$33,335