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Warehouse Receivables & Warehouse Lines of Credit | 12 Months Ended
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Dec. 31, 2019
Warehouse Receivables And Warehouse Lines Of Credit [Abstract] |
Warehouse Receivables & Warehouse Lines of Credit |
5. | Warehouse Receivables & Warehouse Lines of Credit
A rollforward of our warehouse receivables is as follows (dollars in thousands):
Beginning balance at December 31, 2018 |  | $ | 1,342,468 |
Origination of mortgage loans |  |  | 19,389,979 |
Gains (premiums on loan sales) |  |  | 64,002 |
Proceeds from sale of mortgage loans: |  |  |  |
Sale of mortgage loans |  |  | (19,741,058 | )
Cash collections of premiums on loan sales |  |  | (64,002 | )
Proceeds from sale of mortgage loans |  |  | (19,805,060 | )
Net increase in mortgage servicing rights included in warehouse receivables |  |  | 1,669 |
Ending balance at December 31, 2019 |  | $ | 993,058 |
The following table is a summary of our warehouse lines of credit in place as of December 31, 2019 and 2018 (dollars in thousands):
|  |  |  |  |  | December 31, 2019 |  |  | December 31, 2018 |
Lender |  | Current Maturity |  | Pricing |  | Maximum Facility Size |  |  | Carrying Value |  |  | Maximum Facility Size |  |  | Carrying Value |
JP Morgan Chase Bank, N.A. (JP Morgan) (1) |  | 10/19/2020 |  | daily one-month LIBOR plus 1.30% |  | $ | 985,000 |  |  | $ | 267,075 |  |  | $ | 985,000 |  |  | $ | 871,680 |
JP Morgan (1) |  | 10/19/2020 |  | daily one-month LIBOR plus 2.75% |  |  | 15,000 |  |  |  | — |  |  |  | 15,000 |  |  |  | — |
Capital One, N.A. (Capital One) |  | 7/27/2020 |  | daily one-month LIBOR plus 1.25% |  |  | 200,000 |  |  | $ | 39,538 |  |  |  | 325,000 |  |  |  | 120,195 |
Fannie Mae Multifamily As Soon As Pooled Plus Agreement and Multifamily As Soon As Pooled Sale Agreement (ASAP) Program (2) |  | Cancelable anytime |  | daily one-month LIBOR plus 1.35%, with a LIBOR floor of 0.35% |  |  | 450,000 |  |  |  | 360,784 |  |  |  | 450,000 |  |  |  | 149,089 |
TD Bank, N.A. (TD Bank) (3) |  | 6/30/2020 |  | daily one-month LIBOR plus 1.15% |  |  | 800,000 |  |  |  | 92,266 |  |  |  | 400,000 |  |  |  | 165,945 |
Bank of America, N.A. (BofA) |  | 5/27/2020 |  | daily one-month LIBOR plus 1.20% |  |  | 350,000 |  |  |  | 189,465 |  |  |  | — |  |  |  | — |
BofA |  | 5/27/2020 |  | daily one-month LIBOR plus 1.15% |  |  | 250,000 |  |  |  | 17,457 |  |  |  | 200,000 |  |  |  | — |
BofA |  | 6/4/2019 |  | daily one-month LIBOR plus 1.30% |  |  | — |  |  |  | — |  |  |  | 225,000 |  |  |  | 21,852 |
MUFG Union Bank, N.A. (Union Bank) (4) |  | 6/28/2020 |  | daily one-month LIBOR plus 1.20% |  |  | 350,000 |  |  |  | 10,590 |  |  |  | — |  |  |  | — |
|  |  |  |  |  | $ | 3,400,000 |  |  | $ | 977,175 |  |  | $ | 2,600,000 |  |  | $ | 1,328,761 |
(1) | Effective October 21, 2019, we amended this facility which extended the maturity date until October 19, 2020.
(2) | Effective February 6, 2020, the maximum facility size was temporarily increased from $450.0 million to $600.0 million, and will revert back to $450.0 million on March 1, 2020.
(3) | Effective July 1, 2019, this facility was amended with a revised interest rate of daily one-month LIBOR plus 1.15% and a maturity date of June 30, 2020. Effective August 1, 2019, this facility contained an accordion feature which provided for a temporary increase to $800.0 million, if needed, and expired on February 1, 2020. The temporary increase was never requested.
(4) | On June 28, 2019, we added a new warehouse facility for $200.0 million with Union Bank. This facility contains an accordion feature which allows for temporary increases not to exceed an additional $150.0 million. If utilized, the additional borrowings must be in predefined multiples and are not to occur more than three times within twelve consecutive months. Since inception, no short-term temporary increases have been requested.
During the year ended December 31, 2019, we had a maximum of $2.5 billion of warehouse lines of credit principal outstanding.

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