XML 45 R36.htm IDEA: XBRL DOCUMENT
v3.23.3

WAREHOUSE LINES OF CREDIT (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Line of Credit Facility [Abstract] |
Schedule of Warehouse Lines of Credit | Warehouse lines of credit consisted of the following at September 30, 2023 and December 31, 2022. Changes subsequent to September 30, 2023 have been described in the notes referenced with the below table.
|  | Maturity as of September 30, 2023 |  | September 30, 2023 |  | December 31, 2022
$345 million master repurchase facility agreement(1) |  | January 2024 |  | $ | 107,912 |  |  | $ | 47,565 |
$150 million master repurchase facility agreement(2) |  | August 2024 |  | 113,126 |  |  | 10,848 |
$300 million master repurchase facility agreement(3) |  | June 2024 |  | 173,377 |  |  | 189,512 |
$200 million master repurchase facility agreement(4) |  | May 2024 |  | 84,020 |  |  | 110,605 |
$200 million master repurchase facility agreement(5) |  | November 2023 |  | 82,721 |  |  | 16,131 |
$300 million master repurchase facility agreement(6) |  | September 2024 |  | 128,197 |  |  | 81,353 |
$100 million master repurchase facility agreement(7) |  | N/A |  | — |  |  | 56,237 |
$50 million master repurchase facility agreement(8) |  | N/A |  | 30,851 |  |  | — |
$75 million master repurchase facility agreement(9) |  | March 2025 |  | 35,041 |  |  | 40,096 |
$200 million master repurchase facility agreement(10) |  | N/A |  | 86,906 |  |  | 162,454 |
|  |  |  | 842,151 |  |  | 714,801 |
Prepaid commitment fees |  |  |  | (3,029) |  |  | (1,650) |
Net warehouse lines of credit |  |  |  | $ | 839,122 |  |  | $ | 713,151 |
______________________________ (1)The variable interest rate is calculated using a base rate tied to SOFR. (2)The variable interest rate is calculated using a base rate tied to SOFR, plus the applicable interest rate margin. This line of credit requires a minimum deposit of $750,000. (3)The variable interest rate is calculated using a base rate tied to SOFR, plus the applicable interest rate margin. This facility requires a minimum deposit of $1.5 million. (4)The variable interest rate is calculated using a base rate plus SOFR, with a floor of 0.375% plus the applicable interest rate margin. (5)The variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.40%, plus the applicable interest rate margin. (6)The variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.50%, plus the applicable interest rate margin. (7)This facility matured in July 2023 and was not renewed. (8)The variable interest rate is calculated using a base rate tied to SOFR, plus the applicable interest rate margin. This facility’s maturity date is 30 days from written notice by either the financial institution or the Company. (9)The interest rate on this facility is 3.375%. This facility is used for GNMA delinquent buyouts. Each buyout represents a separate transaction that can remain on the facility for up to four years. (10)This facility agreement is due on demand and the variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.75%.

X
- References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration