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v3.23.2

Fair Value Measurements - Unobservable Inputs (Details) - USD ($) | 6 Months Ended
--- | ---
Jun. 30, 2023 | Jun. 30, 2022
MSRs(1) |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Average life(4) | 7 years 10 months 24 days | 8 years 1 month 6 days
Excess spread financing |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Average life(4) | 6 years 4 months 24 days | 6 years 7 months 6 days
Min | MSRs(1) |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Option adjusted spread(2) | 6.80% |
Discount rate |  | 10.40%
Prepayment speed | 6.50% | 6.30%
Cost to service per loan(3) | $ 56 | $ 54
Min | Mortgage loans held for sale |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Market pricing | $ 0.450 | $ 0.373
Min | IRLCs |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Value of servicing (reflected as a percentage of loan commitment) | 0 | (0.006)
Min | Excess spread financing |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Option adjusted spread(2) | 6.80% |
Discount rate |  | 10.00%
Prepayment speed | 7.30% | 6.90%
Min | Mortgage servicing rights financing |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Advance financing and counterparty fee rates | 5.60% | 5.20%
Annual advance recovery rates | 14.00% | 15.90%
Max | MSRs(1) |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Option adjusted spread(2) | 12.00% |
Discount rate |  | 13.70%
Prepayment speed | 12.70% | 12.20%
Cost to service per loan(3) | $ 157 | $ 155
Max | Mortgage loans held for sale |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Market pricing | $ 1.021 | $ 1.147
Max | IRLCs |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Value of servicing (reflected as a percentage of loan commitment) | 0.040 | 0.039
Max | Excess spread financing |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Option adjusted spread(2) | 12.00% |
Discount rate |  | 13.80%
Prepayment speed | 13.70% | 13.30%
Max | Mortgage servicing rights financing |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Advance financing and counterparty fee rates | 8.80% | 8.60%
Annual advance recovery rates | 17.20% | 20.60%
Weighted Average | MSRs(1) |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Option adjusted spread(2) | 8.00% |
Discount rate |  | 11.40%
Prepayment speed | 7.60% | 7.20%
Cost to service per loan(3) | $ 83 | $ 80
Weighted Average | Mortgage loans held for sale |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Market pricing | $ 0.775 | $ 0.774
Weighted Average | IRLCs |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Value of servicing (reflected as a percentage of loan commitment) | 0.020 | 0.023
Weighted Average | Excess spread financing |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Option adjusted spread(2) | 8.50% |
Discount rate |  | 11.30%
Prepayment speed | 9.70% | 9.20%
Weighted Average | Mortgage servicing rights financing |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |
Advance financing and counterparty fee rates | 7.00% | 7.10%
Annual advance recovery rates | 15.00% | 17.30%

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- Definition Weighted average life of securitized assets regardless of when the transfer occurred, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481326/860-20-50-4 + Details
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- Definition Discount rate which is used to value residual cash flows generated by financial assets of a securitization, asset-backed financing arrangement, or similar transfer regardless of when the transfer occurred. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481326/860-20-50-4 + Details
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