Company: ABR-PF
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001253986-25-000022
Chunk: 223

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 223
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 on our future operations; however, future changes to collateral requirements may adversely impact our available cash.We are subject to various capital requirements in connection with seller/servicer agreements that we have entered into with secondary market investors. Failure to maintain minimum capital requirements could result in our inability to originate and service loans for the respective investor and, therefore, could have a direct material effect on our consolidated financial statements. At September 30, 2025, we met all of Fannie Mae’s quarterly capital requirements and our Fannie Mae adjusted net worth was in excess of the required net worth. We are not subject to capital requirements on a quarterly basis for Ginnie Mae and FHA, as requirements for these investors are only required on an annual basis.As an approved designated seller/servicer under Freddie Mac’s SBL program, we are required to post collateral to ensure that we are able to meet certain purchase and loss obligations required by this program. Under the SBL program, we are required to post collateral equal to $5.0 million, which is satisfied with a $5.0 million letter of credit.We enter into contractual commitments with borrowers providing rate lock commitments while simultaneously entering into forward sale commitments with investors. These commitments are outstanding for short periods of time (generally less than 60 days) and are described in more detail in Note 12 and Note 13.Debt Obligations and Operating Leases. At September 30, 2025, the maturities of our debt obligations and the minimum annual operating lease payments under leases with a term in excess of one year are as follows (in thousands):YearDebt ObligationsMinimum Annual Operating Lease PaymentsTotal2025 (three months ending December 31, 2025)$1,559,126 $2,810 $1,561,936 20263,806,939 11,424 3,818,363 20272,510,521 9,912 2,520,433 20281,765,684 9,226 1,774,910 202960,500 8,714 69,214 2030555,223 8,756 563,979 Thereafter154,336 10,924 165,260 Total$10,412,329 $61,766 $10,474,095 During the three and nine months ended September 30, 2025, we recorded lease expense of $2.7 million and $8.1 million,