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Derivative and Hedging Instruments (Tables) | 9 Months Ended
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Sep. 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 September 30, 2024 and December 31, 2023:
(Dollars in millions) |  |  |  |  |  |  |  |  |  |
As of September 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 |  | 59.0 |  |  | 5.44 | %
200.0 |  |  | Warehouse Facility VIII |  | Cap Floating Rate |  | 09/2022 |  | 09/2025 |  | 183.3 |  |  | 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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- 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 + Details
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