Granite Point Mortgage Trust GPMT Increase (decrease) in allowance for credit losses

During the three months ended June 30, 2026, the Company recorded a net increase of $17.3 million in its total allowance for credit losses primarily due to an increase of $40.2 million in specific reserves on collateral-dependent loans and an increase of $6.8 million in the general reserve, partially offset by $(29.7) million in write-offs, bringing the total allowance for credit losses to $165.8 million as of June 30, 2026. The increase in the allowance was primarily related to a provision for credit losses of $47.0 million as a result of one new collateral-dependent loan that was individually assessed for the first time, incremental specific reserves on other collateral-dependent loans and an unfavorable change in the general reserve due to worsening economic forecasts and changes in loan attributes during the three months ended June 30, 2026.