7 unchanged sentences
The persistence of inflation above the Federal Reserve’s
−Removed: term targets, and the maintenance of or further increases in,
−Removed: tightened Federal Reserve monetary policy by increased target
+Added: term targets, and the maintenance of or further
+Added: increases in, tightened Federal Reserve monetary policy by increased target
interest rates and reductions in the Federal Reserve’s
securities portfolio, have and are expected to continue to affect
−Removed: levels of interest rates, mortgage originations and income, the market values of
−Removed: our securities portfolio and loans and have
+Added: levels of interest rates, mortgage originations and income, the market values
+Added: of our securities portfolio and loans and have
resulted in unrealized losses that have adversely affected our stockholders’
3 unchanged sentences
These may also affect our
−Removed: borrower’s operating costs, expected returns and cash flows
−Removed: available to service our loans.
+Added: borrowers’ operating costs, expected returns and cash flows available to
+Added: service our loans.
Additional risks and
4 unchanged sentences
The Company did not sell any common stock or other equity securities during
−Removed: the first quarter of 2025.
+Added: the second quarter of 2025.
UPON SENIOR SECURITIES
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.