Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 84

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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 at the balance sheet date to exit the position. Our mortgage origination subsidiary issues IRLCs to their customers, which are carried at estimated fair value on the Company’s condensed consolidated balance sheets. The estimated fair values of these commitments are generally calculated by reference to the value of the underlying loan associated with the IRLC net of costs to produce and an expected pull through assumption. The fair values of these commitments generally fall under Level 3 in the fair value hierarchy. Forward Delivery Contracts and TBA Mortgage-Backed Securities Our mortgage origination subsidiary manages their exposure by entering into forward delivery commitments with loan investors. For loans not locked with investors under a forward delivery commitment, the Company enters into hedge instruments, primarily TBAs, to protect against movements in interest rates. The fair values of TBA mortgage-backed securities and forward delivery contracts generally fall under Level 2 in the fair value hierarchy.The remaining derivatives are generally comprised of a combination of swaps, currency forwards and options, which are generally classified as Level 2 in the fair value hierarchy. In addition, the Fortegra Additional Warrant (Warburg) is a derivative liability and classified as Level 3 in the fair value hierarchy. See Note (15) Stockholders' Equity for additional information regarding the Fortegra Additional Warrant.

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Table of ContentsTIPTREE INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial StatementsJune 30, 2025(in thousands, except share data)

The following table presents the gross notional and fair value amounts of derivatives (on a gross basis) categorized by underlying risk:As of June 30, 2025As of December 31, 2024NotionalvaluesAsset derivativesLiabilityderivativesNotionalvaluesAsset derivativesLiabilityderivativesInterest rate lock commitments$143,820 $4,043 $— $105,898 $2,257 $— Forward delivery contracts41,041 88 109 26,090 33 54 TBA mortgage-backed securities160,500 92 935 133,200 811 115 Fortegra Additional Warrants (Warburg)(1)— — 11,551 — — 10,958 Total$345,361 $4,223 $12,595 $265,188 $3,101 $11,127 (1)           See Note (15) Stockholders' Equity for additional information.

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Table of ContentsTIPT