Quarterly report pursuant to Section 13 or 15(d)

Loans Held for Investment, at Fair Value

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Loans Held for Investment, at Fair Value
9 Months Ended
Sep. 30, 2023
Receivables [Abstract]  
Loans Held for Investment, at Fair Value
10. Loans Held for Investment, at Fair Value
Loans held for investment, at fair value, consisted of the following (in thousands):
September 30, 2023 December 31, 2022
Loans held for investment - UPB:
Reverse mortgage loans $ 487,710  $ 724,800 
Commercial mortgage loans 4,513  143,373 
Fair value adjustments (24,904) 39,825 
Total loans held for investment, at fair value $ 467,319  $ 907,998 
As of September 30, 2023 and December 31, 2022, there were $2.0 million and $2.4 million, respectively, of commercial loans that were greater than 90 days past due.
As of September 30, 2023 and December 31, 2022, there were $391.9 million and $745.1 million in UPB, respectively, in loans held for investment, at fair value, pledged as collateral for financing lines of credit.