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  "documentTitle": "Newmark May 2023 FI Conference Presentation Vf Final",
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      "text": "Excluding the contribution from Spring11, Newmark’s servicing and asset management portfolio generated $218.5 MM (+ 15.8% Y/Y) of high-margin, recurring, and predictable revenue for the trailing twelve months ended 3/31/2023.",
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      "text": "Limited Servicing Portfolio Composition as of 3/31/2022 $110.1 B",
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      "text": "Servicing Portfolio Composition as of 3/31/2022 $168.8 B",
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      "kind": "disclaimer",
      "text": "Note: We believe that for the industry, commercial and multifamily loan servicers earn 40 to 50 basis points for Fannie Mae loans, 8 to 10 basis points on Freddie Mac, approximately 15 basis points for FHA/Ginnie Mae, and 1 to 3 basis points for special and/or primary limited servicing. Spring11's limited servicing and asset management portfolio, which is the large majority of the $110.1 B portion shown above, currently earns closer to the low end of the latter range. We are targeting higher fees for limited servicing and asset management over time as we add more services. For more, see “Additional Information Regarding Newmark’s Servicing Business” under “Other Useful Information” in the appendix of this document.",
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      "text": "Excluding the contribution from Spring11, Newmark’s servicing and asset management portfolio generated $218.5 MM (+ 15.8% Y/Y) of high-margin, recurring, and predictable revenue for the trailing twelve months ended 3/31/2023. Limited residual loss sharing obligations on the Fannie Mae portfolio with historical realized losses of less than 2 basis points per annum since 1999; there is no loss sharing on the remainder of the portfolio. Of the Fannie Mae/Freddie Mac loans in Newmark’s servicing portfolio, only 4.4% will mature through 2024 and ~ 85% will mature in 2027 or later.",
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      "text": "TTM Revenue: $218.5 million",
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