XML 20 R10.htm IDEA: XBRL DOCUMENT
v3.23.1

Mortgage Loans Held for Sale | 3 Months Ended
--- | ---
Mar. 31, 2023
Receivables [Abstract] |
Mortgage Loans Held for Sale | Mortgage Loans Held for Sale The Company sells substantially all of its originated mortgage loans into the secondary market. The Company retains the right to service a majority of these loans upon sale through ownership of servicing rights. A reconciliation of the changes in mortgage loans held for sale to the amounts presented on the Condensed Consolidated Statements of Cash Flows is below:
| Three Months Ended March 31,
| 2023 |  | 2022
Balance at the beginning of period | $ | 7,343,475 |  |  | $ | 19,323,568 |
Disbursements of mortgage loans held for sale | 16,785,731 |  |  | 54,173,353 |
Proceeds from sales of mortgage loans held for sale (1) | (15,987,171) |  |  | (63,180,565) |
Gain on sale of mortgage loans excluding fair value of other financial instruments, net (2) | 296,679 |  |  | 368,788 |
Balance at the end of period | $ | 8,438,714 |  |  | $ | 10,685,144 |
(1) The proceeds from sales of loans held for sale on the Condensed Consolidated Statements of Cash Flows includes amounts related to the sale of personal loans. (2) The Gain on sale of loans excluding fair value of MSRs, net on the Condensed Consolidated Statements of Cash Flows includes amounts related to the sale of personal loans, interest rate lock commitments, forward commitments, and provisions for investor reserves. Credit Risk The Company is subject to credit risk associated with mortgage loans that it purchases and originates during the period of time prior to the sale of these loans. The Company considers credit risk associated with these loans to be insignificant as it holds the loans for a short period of time, which for the three months ended March 31, 2023 is, on average, approximately 35 days from the date of borrowing, and the market for these loans continues to be highly liquid. The Company is also subject to credit risk associated with mortgage loans it has repurchased as a result of breaches of representations and warranties during the period of time between repurchase and resale.

X
- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI https://asc.fasb.org/subtopic&trid=2196772 + Details
Name: | us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration