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Warehouse Receivables & Warehouse Lines of Credit (Tables)
 3 Months Ended
Mar. 31, 2022
Warehouse Receivables And Warehouse Lines Of Credit [Abstract]  
Schedule of Warehouse Receivables
A rollforward of our warehouse receivables is as follows (dollars in thousands):
Beginning balance at December 31, 2021$1,303,717 
Origination of mortgage loans3,221,312 
Gains (premiums on loan sales)8,134 
Proceeds from sale of mortgage loans:
Sale of mortgage loans(3,327,950)
Cash collections of premiums on loan sales(8,134)
Proceeds from sale of mortgage loans(3,336,084)
Net decrease in mortgage servicing rights included in warehouse receivables(2,279)
Ending balance at March 31, 2022$1,194,800 
Summary of Warehouse Lines of Credit in Place
The following table is a summary of our warehouse lines of credit in place as of March 31, 2022 and December 31, 2021 (dollars in thousands):
March 31, 2022December 31, 2021
LenderCurrent
Maturity		PricingMaximum
Facility
Size		Carrying
Value		Maximum
Facility
Size		Carrying
Value
JP Morgan Chase Bank, N.A. (JP Morgan) (1)
10/17/2022
daily floating rate SOFR rate plus 1.60%, with a SOFR adjustment rate of 0.05%
$1,335,000 $840,732 $1,335,000 $742,124 
JP Morgan10/17/2022
daily floating rate SOFR rate plus 2.75%, with a SOFR adjustment rate of 0.05%
15,000 7,519 15,000 4,326 
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 1.45%, with a
LIBOR floor of 0.25%
650,000 109,961 650,000 133,084 
TD Bank, N.A. (TD Bank) (3)
7/15/2022
daily floating rate LIBOR plus 1.30%
800,000 85,873 800,000 217,672 
Bank of America, N.A. (BofA) (4)
5/25/2022
daily floating rate SOFR rate plus 1.30%, with a
SOFR adjustment rate of 0.11%
350,000 93,446 350,000 178,600 
BofA (5)
5/25/2022
daily floating rate SOFR rate 1.30%, with a
SOFR adjustment rate of 0.11%
250,000 — 250,000 — 
MUFG Union Bank, N.A. (Union Bank) (6)
6/28/2022
daily floating rate LIBOR plus 1.30%
200,000 34,594 200,000 1,645 
$3,600,000 $1,172,125 $3,600,000 $1,277,451 
_______________________________
(1)Effective October 18, 2021, this facility was renewed and amended and the maximum facility size was increased to $1,335.0 million. This facility has a revised maturity date of October 17, 2022 and a revised interest rate to a Secured Overnight Finance Rate (SOFR) term plus 1.60%, with a SOFR adjustment rate of 0.05%, noting the Business Lending sublimit has a revised interest rate of daily adjusted term SOFR plus 2.75%, with a SOFR adjustment rate of 0.05%.
(2)Effective January 15, 2021, the maximum facility was increased to $650.0 million.
(3)Effective July 1, 2020, this facility was amended and provides for a maximum aggregate principal amount of $400.0 million, in addition to an uncommitted $400.0 million temporary line of credit. Effective June 28, 2021, this facility was renewed with a revised interest rate of daily floating rate LIBOR plus 1.30% and a maturity date of July 15, 2022. As of March 31, 2022, the uncommitted $400.0 million temporary line of credit was not utilized.
(4)The total commitment amount of $350.0 million includes a separate sublimit borrowing in the amount of $100.0 million, which can be utilized for specific purposes as defined within the agreement. Effective June 30, 2021, this facility was renewed with a revised interest rate of daily floating LIBOR plus 1.30% and a maturity date of May 25, 2022. The sublimit is subject to an interest rate of daily floating LIBOR plus 1.75%, with a LIBOR floor of 0.75%. Effective January 1, 2022, daily floating rate LIBOR was replaced with daily floating rate SOFR, with an adjustment rate of 0.11%. As of March 31, 2022, the sublimit borrowing has not been utilized.
(5)Effective June 30, 2021, the advised consent line was renewed for $250.0 million of capacity with a revised interest rate of daily floating SOFR plus 1.30%, with a SOFR adjustment rate of 0.11%, and a maturity date of May 25, 2022.
(6)Effective June 28, 2021, this facility was renewed with a revised interest rate of daily floating rate LIBOR plus 1.30%, removing the LIBOR floor, and a maturity date of June 28, 2022.