Company – Scrape Financial
Risk Factors Summary

Risk Factors Update Summary

  • Mortgage interest rates significantly increased, impacting refinancings and new originations volume.
  • Increased marketing expenditures may be required to maintain or increase mortgage originations volume.
  • Warehouse facilities had a two-year renewal term, with most facilities having terms up to 364 days.
  • The company issued $2.0 billion in senior unsecured notes with lower coupon rates.
  • Increased regulatory complexity and enforcement actions may lead to higher compliance costs.
  • Changes in interest rates affect prepayment rates, float earnings, and MSR values.
  • The company's financial covenants based on balance sheet ratios will be increased in 2023 and 2024.

Full Text Changes in Most Recent 10-K

Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.

To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1783398&owner=exclude

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