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v3.23.2

Fair Value Measurements - Measured on a Recurring Basis (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022
--- | --- | --- | ---
Assets |  |  |
Mortgage loans held for sale | $ 1,187 | $ 893 |
Liabilities |  |  |
Mortgage servicing rights financing | 23 | 19 |
Treasury futures |  |  |
Assets |  |  |
Fair Value |  |  | $ 18
Recurring Fair Value Measurements |  |  |
Assets |  |  |
Mortgage loans held for sale | 1,187 | 893 |
Mortgage servicing rights | 7,149 | 6,654 |
Equity investments | 43 | 47 |
Liabilities |  |  |
Mortgage servicing rights financing | 23 | 19 |
Excess spread financing | 459 | 509 |
Recurring Fair Value Measurements | IRLCs |  |  |
Assets |  |  |
Fair Value | 30 | 22 |
Recurring Fair Value Measurements | LPCs |  |  |
Assets |  |  |
Fair Value | 1 | 1 |
Fair Value | 1 | 1 |
Recurring Fair Value Measurements | Forward MBS trades |  |  |
Assets |  |  |
Fair Value | 10 | 8 |
Fair Value | 3 | 9 |
Recurring Fair Value Measurements | Treasury futures |  |  |
Assets |  |  |
Fair Value | 20 | 14 |
Recurring Fair Value Measurements | Level 1 |  |  |
Assets |  |  |
Mortgage loans held for sale | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Equity investments | 1 | 2 |
Liabilities |  |  |
Mortgage servicing rights financing | 0 | 0 |
Excess spread financing | 0 | 0 |
Recurring Fair Value Measurements | Level 1 | IRLCs |  |  |
Assets |  |  |
Fair Value | 0 | 0 |
Recurring Fair Value Measurements | Level 1 | LPCs |  |  |
Assets |  |  |
Fair Value | 0 | 0 |
Fair Value | 0 | 0 |
Recurring Fair Value Measurements | Level 1 | Forward MBS trades |  |  |
Assets |  |  |
Fair Value | 0 | 0 |
Fair Value | 0 | 0 |
Recurring Fair Value Measurements | Level 1 | Treasury futures |  |  |
Assets |  |  |
Fair Value | 0 | 0 |
Recurring Fair Value Measurements | Level 2 |  |  |
Assets |  |  |
Mortgage loans held for sale | 1,120 | 819 |
Mortgage servicing rights | 0 | 0 |
Equity investments | 0 | 0 |
Liabilities |  |  |
Mortgage servicing rights financing | 0 | 0 |
Excess spread financing | 0 | 0 |
Recurring Fair Value Measurements | Level 2 | IRLCs |  |  |
Assets |  |  |
Fair Value | 0 | 0 |
Recurring Fair Value Measurements | Level 2 | LPCs |  |  |
Assets |  |  |
Fair Value | 0 | 0 |
Fair Value | 0 | 0 |
Recurring Fair Value Measurements | Level 2 | Forward MBS trades |  |  |
Assets |  |  |
Fair Value | 10 | 8 |
Fair Value | 3 | 9 |
Recurring Fair Value Measurements | Level 2 | Treasury futures |  |  |
Assets |  |  |
Fair Value | 20 | 14 |
Recurring Fair Value Measurements | Level 3 |  |  |
Assets |  |  |
Mortgage loans held for sale | 67 | 74 |
Mortgage servicing rights | 7,149 | 6,654 |
Equity investments | 42 | 45 |
Liabilities |  |  |
Mortgage servicing rights financing | 23 | 19 |
Excess spread financing | 459 | 509 |
Recurring Fair Value Measurements | Level 3 | IRLCs |  |  |
Assets |  |  |
Fair Value | 30 | 22 |
Recurring Fair Value Measurements | Level 3 | LPCs |  |  |
Assets |  |  |
Fair Value | 1 | 1 |
Fair Value | 1 | 1 |
Recurring Fair Value Measurements | Level 3 | Forward MBS trades |  |  |
Assets |  |  |
Fair Value | 0 | 0 |
Fair Value | 0 | 0 |
Recurring Fair Value Measurements | Level 3 | Treasury futures |  |  |
Assets |  |  |
Fair Value | $ 0 | $ 0 |

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