Company: BLNE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023462
Chunk: 149

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 149
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, points and certain costs,
(3) provision for or benefit from investor reserves, and (4) the change in fair value of interest rate lock commitment (“IRLCs”
or “rate lock”) and mortgage loans held for sale.

When
the mortgage loan is sold into the secondary market (i.e. funded), any difference between the proceeds received and the current fair
value of the loan is recognized in current period earnings in gain on sale of loans. Gain on sale of loans, net was $1.7 million and
$3.6 million for the three and nine months ended September 30, 2025, respectively.

Loan
origination fees. Loan origination fees generally include underwriting and processing fees, investor fees, and other related
expenses. Loan origination fees were $0.3 million and $0.6 million for the three and nine months ended September 30, 2025, respectively.

Loan
interest income and expense. Interest income is interest earned on mortgage loans held for sale and interest expense is paid
on our loan funding facilities. Net interest expense was $22,307 and $9,197 for the three and nine months ended September 30, 2025, respectively.

Compensation,
commissions and benefits. Compensation, commissions and benefits were $0.9 million and $2.7 million for the three and nine months
ended September 30, 2025, respectively.

General
and administrative expenses. General and administrative expenses consist primarily of rent and utilities and were $0.1 million
and $0.5 million for the three and nine months ended September 30, 2025, respectively.

Depreciation
and amortization. Depreciation and amortization expenses consist primarily of amortization related to internal-use software and
was $0.8 million and $2.4 million for the three and nine months ended September 30, 2025, respectively.

Marketing
and advertising. Marketing and advertising were $0.7 million and $1.9 million for the three and nine months ended September 30,
2025, respectively.

Other
operating expenses. Other operating expenses consist of expenses directly related to the origination of loans and are charged
by investors at the sale of loans excluding interest, and software service providers. Other operating expenses were $0.6 million and
$1.5 million for the three and nine months ended September 30, 2025, respectively.

Beeline
Title Holdings (For the