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Warehouse Receivables & Warehouse Lines of Credit (Tables)
 3 Months Ended
Mar. 31, 2023
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, 2022$455,354 
Origination of mortgage loans2,494,589 
Gains (premiums on loan sales)6,807 
Proceeds from sale of mortgage loans:
Sale of mortgage loans(2,159,802)
Cash collections of premiums on loan sales(6,807)
Proceeds from sale of mortgage loans(2,166,609)
Net increase in mortgage servicing rights included in warehouse receivables2,153 
Ending balance at March 31, 2023$792,294 
Schedule 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, 2023 and December 31, 2022 (dollars in thousands):
March 31, 2023December 31, 2022
LenderCurrent
Maturity		PricingMaximum
Facility
Size		Carrying
Value		Maximum
Facility
Size		Carrying
Value
JP Morgan Chase Bank, N.A. (JP Morgan) (1)
12/15/2023
daily floating rate SOFR rate plus 1.60%, with a SOFR adjustment rate of 0.05%
$1,335,000 $580,133 $1,335,000 $330,509 
JP Morgan (Business Lending Activity) (1)
12/15/2023
daily floating rate SOFR rate plus 2.75%, with a SOFR adjustment rate of 0.05%
15,000 — 15,000 — 
Fannie Mae Multifamily As Soon As Pooled Plus Agreement and Multifamily As Soon As Pooled Sale Agreement (ASAP) ProgramCancelable
anytime
daily one-month LIBOR plus 1.45%, with a LIBOR floor
of 0.25%
650,000 15,393 650,000 — 
TD Bank, N.A. (TD Bank) (2)
7/15/2023
daily floating rate SOFR rate 1.30%, with a SOFR adjustment rate of 0.10%
800,000 22,701 800,000 — 
Bank of America, N.A. (BofA) (3)
5/24/2023
daily floating rate SOFR rate plus 1.25%, with a SOFR adjustment rate of 0.10%
350,000 163,308 350,000 115,206 
BofA (4)
5/24/2023
daily floating rate SOFR rate 1.25%, with a SOFR adjustment rate of 0.10%
250,000 — 250,000 — 
MUFG Union Bank, N.A. (Union Bank) (5)
6/27/2023
daily floating rate SOFR plus 1.30%
200,000 1,102 200,000 2,125 
$3,600,000 $782,637 $3,600,000 $447,840 
_______________________________
(1)Effective October 18, 2021, this facility was renewed and amended and the maximum facility size was increased to $1,350.0 million. This facility was revised on October 17, 2022 with 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%. Effective December 16, 2022, this facility was renewed with a revised maturity date of December 15, 2023.
(2)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 July 15, 2022, this facility was renewed with a revised interest rate of daily floating rate SOFR rate plus 1.30%, with a SOFR adjustment rate of 0.10% and a maturity date of July 15, 2023. As of March 31, 2023, the uncommitted $400.0 million temporary line of credit was not utilized.
(3)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 May 25, 2022, this facility was renewed with a revised interest rate of daily floating rate SOFR plus 1.25%, with a SOFR adjustment rate of 0.10% and a maturity date of May 24, 2023. The sublimit is subject to an interest rate of daily floating rate SOFR plus 1.75%, with a SOFR adjustment rate of 0.10%. As of March 31, 2023, the sublimit borrowing has not been utilized.
(4)Effective May 25, 2022, the advised consent line was renewed for $250.0 million of capacity with a revised interest rate of daily floating rate SOFR plus 1.25%, with a SOFR adjustment rate of 0.10%, and a maturity date of May 24, 2023.
(5)Effective June 27, 2022, this facility was renewed with a facility size of $200.0 million and a revised interest rate of daily floating rate SOFR plus 1.30% and a maturity date of June 27, 2023.