Company: ABR-PF
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001253986-25-000014
Chunk: 187

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 187
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 five years and $129.2 million is estimated to mature in five to ten years.Agency B Piece Bonds. Freddie Mac may choose to hold, sell or securitize loans we sell to them under the Freddie Mac SBL program. As part of the securitizations under the SBL program, we have the ability to purchase the B Piece bond through a bidding process, which represents the bottom 10%, or highest risk, of the securitization. At June 30, 2025, we held 49%, or $106.2 million initial face value, of seven B Piece bonds, which were previously purchased at a discount for $74.7 million, and sold the remaining 51% to a third party. These securities are collateralized by a pool of multifamily mortgage loans, bear interest at an initial weighted average variable rate of 3.74% and have an estimated weighted average remaining maturity of 12.6 years. The weighted average effective interest rate was 11.52% and 11.76% at June 30, 2025 and December 31, 2024, respectively, including the accretion of a portion of the discount deemed collectible. Approximately $37.1 million is estimated to mature after ten years.A summary of our securities held-to-maturity is as follows (in thousands):Face ValueNet CarryingValueUnrealizedGain (Loss)EstimatedFair Value Allowance forCredit LossesJune 30, 2025APL certificates$192,791 $137,258 $(16,487)$120,771 $2,107 B Piece bonds37,099 19,662 12,372 32,034 11,552 Total$229,890 $156,920 $(4,115)$152,805 $13,659 December 31, 2024APL certificates$192,791 $134,834 $(22,803)$112,031 $1,658 B Piece bonds37,221 22,320 10,157 32,477 9,188 Total$230,012 $157,154 $(12,646)$144,508 $10,846 A summary of the changes in the allowance for credit losses for our securities held-to-maturity is as follows (in thousands):Three Months Ended June 30, 2025Six Months Ended June 30, 2025APL CertificatesB