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Derivative and Hedging Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Terms of Interest Rate Cap Agreements

The following tables provide the terms of our interest rate cap agreements that were in effect as of June 30, 2024 and December 31, 2023:

(Dollars in millions)
As of June 30, 2024
Facility Amount						Facility Name						Purpose						Start						End						Notional						Cap Interest Rate (1)
$	300.0					Warehouse Facility IV						Cap Floating Rate						05/2023						11/2024						$	300.0					7.50		%
200.0						Warehouse Facility V						Cap Floating Rate						04/2023						01/2026						71.0						5.44		%
200.0						Warehouse Facility VIII						Cap Floating Rate						09/2022						09/2025						200.0						5.42		%

(Dollars in millions)
As of December 31, 2023
Facility Amount						Facility Name						Purpose						Start						End						Notional						Cap Interest Rate (1)
$	300.0					Warehouse Facility IV						Cap Floating Rate						05/2023						11/2024						$	300.0					7.50		%
200.0						Warehouse Facility V						Cap Floating Rate						04/2023						01/2026						94.0						5.44		%
200.0						Warehouse Facility VIII						Cap Floating Rate						09/2022						9/2025						200.0						5.42		%
100.0						Term ABS 2021-1						Cap Floating Rate						04/2023						06/2024						37.5						5.46		%
200.0						Term ABS 2022-2						Cap Floating Rate						12/2022						06/2024						200.0						6.50		%

(1)Rate excludes the spread over the corresponding benchmark rate.

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- References

No definition available.

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- Definition

Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

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