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Mortgage Loans Held for Sale | 3 Months Ended
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Mar. 31, 2023
Mortgage Loans Held for Sale and Investment [Abstract] |
Mortgage Loans Held for Sale | 5. Mortgage Loans Held for Sale Mortgage loans held for sale are recorded at fair value as set forth below:
Mortgage Loans Held for Sale | March 31, 2023 |  | December 31, 2022
Mortgage loans held for sale – UPB | $ | 959 |  |  | $ | 921 |
Mark-to-market adjustment(1) | (22) |  |  | (28) |
Total mortgage loans held for sale | $ | 937 |  |  | $ | 893 |
(1)The mark-to-market adjustment includes net change in unrealized gain/loss, premium on correspondent loans and fees on direct-to-consumer loans. The mark-to-market adjustment is recorded in “revenues - net gain on mortgage loans held for sale” in the condensed consolidated statements of operations. The following table sets forth the activities of mortgage loans held for sale:
| Three Months Ended March 31,
Mortgage Loans Held for Sale | 2023 |  | 2022
Balance - beginning of period | $ | 893 |  |  | $ | 4,381 |
Loans sold and loan payments received | (2,940) |  |  | (14,527) |
Mortgage loans originated and purchased, net of fees | 2,760 |  |  | 11,598 |
Repurchase of loans out of Ginnie Mae securitizations(1) | 222 |  |  | 2,249 |
Net change in unrealized gain (loss) on retained loans held for sale | 9 |  |  | (109) |
Net transfers of mortgage loans held for sale(2) | (7) |  |  | 1 |
Balance - end of period | $ | 937 |  |  | $ | 3,593 |
(1)The Company has the optional right to repurchase any individual loan in a Ginnie Mae securitization pool if that loan meets certain criteria, including being delinquent greater than 90 days. The majority of Ginnie Mae repurchased loans are repurchased in connection with loan modifications and loan resolution activity, with the intent to re-pool into new Ginnie Mae securitizations upon re-performance of the loan or to otherwise sell to third-party investors. Therefore, these loans are classified as held for sale. (2)Amounts reflect transfers to other assets for loans transitioning into REO status and transfers to advances and other receivables, net, for claims made on certain government insurance mortgage loans. Transfers out are net of transfers in upon receipt of proceeds from an REO sale or claim filing. For the three months ended March 31, 2023 and 2022, the Company received proceeds of $2,931 and $14,472, on the sale of mortgage loans held for sale, resulting in a loss of $9 and $55, respectively. The total UPB and fair value of mortgage loans held for sale on non-accrual status was as follows:
| March 31, 2023 |  | December 31, 2022
Mortgage Loans Held for Sale | UPB |  | Fair Value |  | UPB |  | Fair Value
Non-accrual(1) | $ | 100 |  |  | $ | 86 |  |  | $ | 102 |  |  | $ | 87 |
(1)Non-accrual UPB includes $85 and $90 of UPB related to Ginnie Mae repurchased loans as of March 31, 2023 and December 31, 2022, respectively. The total UPB of mortgage loans held for sale for which the Company has begun formal foreclosure proceedings was $58 an d $65 as of March 31, 2023 and December 31, 2022, respectively.

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- Definition Mortgage Loans Held for Sale and Investment + References No definition available. + Details
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- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI https://asc.fasb.org/subtopic&trid=2196772 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2196816 + Details
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