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Warehouse Receivables & Warehouse Lines of Credit (Tables)
 12 Months Ended
Dec. 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 millions):
Beginning balance at December 31, 2022$455 
Origination of mortgage loans9,905 
Gains (premiums on loan sales)27 
Proceeds from sale of mortgage loans:
Sale of mortgage loans(9,687)
Cash collections of premiums on loan sales(27)
Proceeds from sale of mortgage loans(9,714)
Net increase in mortgage servicing rights included in warehouse receivables2 
Ending balance at December 31, 2023$675 
Summary of Warehouse Lines of Credit in Place
The following table is a summary of our warehouse lines of credit in place as of December 31, 2023 and 2022 (dollars in millions):
December 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)
12/13/2024
daily floating rate Secured Overnight Financing Rate (SOFR) rate plus
1.50%, with a SOFR adjustment rate of 0.05%
$1,335 $613 $1,335 $331 
JP Morgan (Business Lending Activity)
12/13/2024
daily floating rate SOFR rate plus
2.75%, with a SOFR adjustment rate of 0.05%
15 — 15 — 
Fannie Mae Multifamily As Soon As Pooled Plus Agreement and Multifamily As Soon As Pooled Sale Agreement (ASAP) ProgramCancelable
anytime
daily floating SOFR plus 1.45%, with a SOFR floor of 0.25%
650 7 650 — 
TD Bank, N.A. (TD Bank) (2)
7/15/2024
daily floating rate SOFR plus
1.30%, with a SOFR adjustment rate of 0.10%
600 28 800 — 
Bank of America, N.A. (BofA) (3)
5/22/2024
daily floating SOFR rate plus
1.25%, with a SOFR adjustment rate of 0.10%
350 18 350 115 
BofA (4)
5/22/2024
daily floating rate SOFR plus
1.25%, with a SOFR adjustment rate of 0.10%
250 — 250 — 
MUFG Union Bank, N.A. (Union Bank) (5)
— — 200 2 
$3,200 $666 $3,600 $448 
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(1)Effective December 15, 2023, this facility was amended and renewed at an interest rate of daily floating rate SOFR plus 1.50%, with a SOFR adjustment rate of 0.05% and a maturity date of December 13, 2024.
(2)Effective July 15, 2023, this facility was renewed and amended to a maximum aggregate principal amount of $300.0 million, with an uncommitted $300.0 million temporary line of credit and a maturity date of July 15, 2024. As of December 31, 2023, the uncommitted $300.0 million temporary line of credit was not utilized.
(3)Effective September 1, 2023, this facility was amended with a downward 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 22, 2024.
(4)Effective September 1, 2023, this facility was amended with a downward 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 22, 2024.
(5)This facility expired on June 27, 2023, and was not renewed.