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Borrowings (Tables)
 3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Funding Facilities
Facility TypeCollateralMaturityLine AmountCommitted Line Amount
Outstanding Balance as of March 31, 2023
Outstanding Balance as of December 31, 2022
Mortgage Loan funding:
1) Master Repurchase Agreement (6)
Mortgage loans held for sale (5)
10/20/2023$250,000 $50,000 $— $49,381 
2) Master Repurchase Agreement (6)
Mortgage loans held for sale (5)
11/30/20231,000,000 100,000 550,258 138,057 
3) Master Repurchase Agreement (6)
Mortgage loans held for sale (5)
8/9/20242,000,000 250,000 255,281 702,128 
4) Master Repurchase Agreement (1)(6)
Mortgage loans held for sale (5)
1/26/20241,500,000 550,000 754,210 917,621 
5) Master Repurchase Agreement (6)
Mortgage loans held for sale (5)
5/4/20241,000,000 250,000 649,929 493,029 
6) Master Repurchase Agreement (2)(6)
Mortgage loans held for sale (5)
9/9/20241,500,000 250,000 87,888 101,152 
7) Master Repurchase Agreement (6)
Mortgage loans held for sale (5)
9/22/20231,250,000 250,000 181,107 186,707 
8) Master Repurchase Agreement (6)
Mortgage loans held for sale (5)
9/27/2024750,000 100,000 544,729 171,642 
$9,250,000 $1,800,000 $3,023,402 $2,759,717 
Mortgage Loan Early Funding:
9) Early Funding Facility (3)(6)
Mortgage loans held for sale (5)
          (3)
$5,000,000 $— $1,262,204 $561,874 
10) Early Funding Facility (4)(6)
Mortgage loans held for sale (5)
(4)
2,000,000 — 932,128 227,108 
7,000,000 — 2,194,332 788,982 
Total Mortgage Funding Facilities$16,250,000 $1,800,000 $5,217,734 $3,548,699 
(1)    This facility has a 12-month initial term, which can be extended for 3-months at each subsequent 3-month anniversary from the initial start date. Subsequent to March 31, 2023, this facility was extended to April 26, 2024.

(2)    This facility has an overall line size of $1,500,000. This facility also includes a $1,500,000 sublimit for MSR financing; Capacity is fully fungible and is not restricted by these allocations.

(3)    This facility is an evergreen agreement with no stated termination or expiration date. This agreement can be terminated by either party upon written notice.

(4)    This facility has an overall line size of $2,000,000, which is reviewed every 90 days. This facility is an evergreen agreement with no stated termination or expiration date. This agreement can be terminated by either party upon written notice.

(5)    The Company has multiple borrowing facilities in the form of asset sales under agreements to repurchase. These borrowing facilities are secured by mortgage loans held for sale at fair value as the first priority security interest.    

(6)    The interest rates charged by lenders on funding facilities included the applicable base rate plus a spread ranging from 1.00% to 1.80% for the three months ended March 31, 2023, and the applicable base rate plus a spread ranging from 1.00% to 1.85% for the year ended December 31, 2022.
Schedule of Other Financing Facilities
Other Funding Facilities
Facility TypeCollateralMaturityLine AmountCommitted Line AmountOutstanding Balance Outstanding Balance as of March 31, 2023Outstanding Balance Outstanding Balance as of December 31, 2022
Personal Loan funding:
1) Revolving Credit and Security Agreement (1)
Personal loans held for sale
1/30/2025$75,000 $75,000 $18,300 $— 
Total Other Funding Facilities75,000 75,000 18,300 — 
Total Funding Facilities$16,325,000 $1,875,000 $5,236,034 $3,548,699 

(1)    The interest rates charged by lenders on funding facilities included the applicable base rate plus a spread ranging from 1.00% to 1.80% for the three months ended March 31, 2023, and the applicable base rate plus a spread ranging from 1.00% to 1.85% for the year ended December 31, 2022.

Financing Facilities
Facility TypeCollateralMaturityLine AmountCommitted Line AmountOutstanding Balance Outstanding Balance as of March 31, 2023Outstanding Balance Outstanding Balance as of December 31, 2022
Line of Credit Financing Facilities
1) Unsecured line of credit (1)
—7/27/2025$2,000,000 $— $— $— 
2) Unsecured line of credit (1)
—7/31/2025100,000 — — — 
3) Revolving credit facility (3)
—8/10/20251,000,000 1,000,000 — — 
4) MSR line of credit (3)
MSRs10/20/2023200,000 — — — 
5) MSR line of credit (2)(3)
MSRs9/9/20241,500,000 250,000 — — 
$4,800,000 $1,250,000 $— $— 
Early Buyout Financing Facility
6) Early buy out facility (3)
Loans/ Advances3/13/2024$1,500,000 $— $423,831 $672,882 
(1)    Refer to Note 6, Transactions with Related Parties for additional details regarding this unsecured line of credit.

(2)    This facility is a sublimit of Master Repurchase Agreement 6, found above in Mortgage Funding Facilities. Refer to Subfootnote 2, Mortgage Funding Facilities for additional details regarding this financing facility.
(3)    The interest rates charged by lenders on the financing facilities included the applicable base rate, plus a spread ranging from 1.45% to 4.00% for the three months ended March 31, 2023 and the year ended December 31, 2022.
Schedule of Unsecured Senior Notes
Unsecured Senior Notes
Facility TypeMaturityInterest RateOutstanding Principal March 31, 2023Outstanding Principal December 31, 2022
Unsecured Senior Notes (1)
10/15/20262.875 %$1,150,000 $1,150,000 
Unsecured Senior Notes (2)
1/15/20285.250 %61,985 61,985 
Unsecured Senior Notes (3)
3/1/20293.625 %750,000 750,000 
Unsecured Senior Notes (4)
3/1/20313.875 %1,250,000 1,250,000 
Unsecured Senior Notes (5)
10/15/20334.000 %850,000 850,000 
Total Senior Notes
$4,061,985 $4,061,985 
Weighted Average Interest Rate3.59 %3.59 %
(1)    The 2026 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs are presented net against the Senior Notes reducing the $1,150,000 carrying amount on the Condensed Consolidated Balance Sheets by $7,997 and $8,569 as of March 31, 2023 and December 31, 2022, respectively.

(2)    The 2028 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs and discounts are presented net against the Senior Notes reducing the $61,985 carrying amount on the Condensed Consolidated Balance Sheets by $339 and $282 as of March 31, 2023, respectively, and $358 and $298, as of December 31, 2022, respectively.

(3)    The 2029 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs are presented net against the Senior Notes reducing the $750,000 carrying amount on the Condensed Consolidated Balance Sheets by $5,934 and $6,185 as of March 31, 2023 and December 31, 2022, respectively.

(4)    The 2031 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs are presented net against the Senior Notes reducing the $1,250,000 carrying amount on the Condensed Consolidated Balance Sheets by $10,705 and $11,040 as of March 31, 2023 and December 31, 2022, respectively.

(5)    The 2033 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs are presented net against the Senior Notes reducing the $850,000 carrying amount on the Condensed Consolidated Balance Sheets by $7,389 and $7,565 as of March 31, 2023 and December 31, 2022, respectively.