XML 40 R10.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Mortgage Loans Held for Sale | 6 Months Ended
--- | ---
Jun. 30, 2024
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. Mortgage loans held for sale are loans originated that are expected to be sold into the secondary market. Below is a roll forward of the activity in mortgage loans held for sale:
| Six Months Ended June 30,
| 2024 |  | 2023
Balance at the beginning of period | $ | 6,542,232 |  |  | $ | 7,343,475 |
Disbursements of mortgage loans held for sale | 44,161,571 |  |  | 38,990,084 |
Proceeds from sales of mortgage loans held for sale | (41,925,218) |  |  | (38,370,799) |
Gain on sale of mortgage loans excluding fair value of other financial instruments, net (1) | 708,337 |  |  | 481,683 |
Balance at the end of period | $ | 9,486,922 |  |  | $ | 8,444,443 |
(1) The Gain on sale of loans excluding fair value of originated MSRs, net on the Condensed Consolidated Statements of Cash Flows includes income related to non-mortgage loans, interest rate lock commitments, forward commitments, and provision 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 minimal as it holds the loans for a short period of time, which for the six months ended June 30, 2024 is generally less than 45 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 to 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 -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + 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