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Mortgage Loans | 3 Months Ended
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Dec. 31, 2019
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract] |
MORTGAGE LOANS | MORTGAGE LOANS Mortgage loans held for sale consist primarily of single-family residential loans collateralized by the underlying property. At December 31, 2019, mortgage loans held for sale had an aggregate carrying value and aggregate outstanding principal balance of $1.0 billion. At September 30, 2019, mortgage loans held for sale had an aggregate carrying value of $1.1 billion and an aggregate outstanding principal balance of $1.0 billion. During the three months ended December 31, 2019 and 2018, mortgage loans originated totaled $2.3 billion and $1.6 billion, respectively, and mortgage loans sold totaled $2.3 billion and $1.8 billion, respectively. The Company had gains on sales of loans and servicing rights of $73.6 million during the three months ended December 31, 2019 compared to $59.9 million in the prior year period. Net gains on sales of loans and servicing rights are included in revenues in the consolidated statements of operations. Approximately 86% of the mortgage loans sold by DHI Mortgage during the three months ended December 31, 2019 were sold to four major financial entities, of which one entity purchased 31%. The Company occasionally enters into forward sales of mortgage-backed securities (MBS) as part of a program to offer below market interest rate financing to its homebuyers in certain markets. At December 31, 2019, the Company had MBS totaling $594.4 million that did not yet have interest rate lock commitments or closed loans created or assigned and recorded a liability of $0.1 million for the fair value of such MBS position.

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- Definition The entire disclosure for investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate. Includes, but is not limited to, information for each mortgage loan receivable equaling or exceeding three percent of carrying amount of mortgage. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 29 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 948 -SubTopic 310 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-29) -URI http://asc.fasb.org/extlink&oid=6589523&loc=d3e617274-123014 + Details
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