9 unchanged sentences
have a substantial amount of indebtedness.
−Removed: At September 30, 2025, we had approximately $3,435.2 million of debt outstanding.
−Removed: consisted primarily of $2,916.4 million of securitization trust debt and $340.6 million of debt from warehouse lines of credit.
+Added: At March 31, 2026, we had approximately $3,668.2 million debt outstanding.
+Added: Such debt consisted
+Added: primarily of $2,992.2 million of securitization trust debt and $467.1 million of debt from warehouse lines of credit.
Our securitization
−Removed: trust debt has increased by $322.1 million while our warehouse lines of credit debt has decreased by $70.3 million since December 31,
+Added: trust debt has increased by $5.6 million while our warehouse lines of credit debt has increased by $142.3 million since December 31, 2025
(each net of deferred financing costs).
2 unchanged sentences
We had $27.5 million and $29.0 million in subordinated renewable
−Removed: notes outstanding at September 30, 2025, and December 31, 2024, respectively.
−Removed: In June 2021, March 2024, and again on March 20, 2025, we
−Removed: completed a securitization of residual interests from other previously issued securitizations in the amount of $50 million, $50 million,
−Removed: and $65 million, respectively.
−Removed: As of September 30, 2025, we have $149.5 million of the residual interest debt remains outstanding.
+Added: notes outstanding at March 31, 2026, and December 31, 2025, respectively.
+Added: In June 2021, March 2024, March 2025, and again on March 2026,
+Added: we completed a securitization of residual interests from other previously issued securitizations in the amounts of $50 million, $50 million,
+Added: $65 million, and $50 million, respectively.
+Added: As of March 31, 2026, $181.4 million of the residual interest debt remains outstanding.
Our substantial indebtedness could adversely affect
13 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.