Quantitative and Qualitative Disclosures about Market Risk
−Removed: We are exposed to market risks as a result of changes to interest rates.
−Removed: Interest Rate Risk
Other than our Credit Facility and the 2024 Term Loan, we do not have any financial instruments that are exposed to significant market risk.
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A hypothetical 100-basis point increase or decrease in market interest rates would not have a material impact on the fair value of our cash equivalents securities, or our earnings on such cash equivalents, but would have a $2.4 million annual effect on the interest paid on borrowings under the Credit Facility and a $1.6 million annual effect on the interest paid on borrowings under the 2024 Term Loan.
−Removed: As of November 1, 2024, the Company had $244.4 million outstanding on its 2021 Term Loan, and there were no outstanding borrowings under its Revolving Facility.
−Removed: As of November 1, 2024, the Company had $118.8 million outstanding on its 2024 Term Loan, which was entered into on March 27, 2024.
+Added: As of May 2, 2025, the Company had $243.1 million outstanding on its 2021 Term Loan Facility, and there were no outstanding borrowings under its Revolving Facility.
+Added: As of May 2, 2025, the Company had $162.5 million outstanding on its 2024 Term Loan.
Fluctuations in interest rates affect consumer demand for new mortgages and the level of refinancing activity which, in turn, affects lender demand for mortgage leads.
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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.