Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 31

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 31
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 ended June 30, 2025 was the negative fair value adjustment in mortgage servicing rights of $0.8 million in 2024 compared to a positive fair value adjustment of $1.4 million in the prior year period.

Other revenue for the three months ended June 30, 2025 was $6.1 million, compared to 5.7 million in the prior year period, an increase of $0.4 million, or 6%. Other revenue for the six months ended June 30, 2025 was $11.8 million, compared to $11.0 million in the prior year period, an increase of $0.8 million, or 7.2%. The increase was driven by higher loan servicing income and higher loan origination fees. As of June 30, 2025, the mortgage servicing asset was $41.4 million, a decrease from $42.6 million as of December 31, 2024.

Expenses - Three and Six Months ended June 30, 2025 compared to 2024 

For the three months ended June 30, 2025, employee compensation and benefits were $9.8 million, compared to $9.4 million in 2024, an increase of $0.4 million or 4.8%. For the six months ended June 30, 2025, employee compensation and benefits were $19.1 million, compared to $18.6 million in the prior year period, an increase of $0.5 million or 2.8%. 

For the three months ended June 30, 2025, interest expense was at $0.4 million, a decrease of $0.1 million or 25.6%. For the six months ended June 30, 2025, interest expense was at $0.7 million, compared to $1.2 million in prior year period. The decreases in both periods were driven by lower interest rates.

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For the three months ended June 30, 2025, other expenses were $5.7 million, compared to $5.4 million in 2024, with the $0.3 million increase driven by increased loan origination expenses, including marketing costs. For the six months ended June 30, 2025, other expenses $11.4 million, compared to $10.5 million in the prior year period, an increase of $0.9 million, with the increase driven by a higher mortgage