XML 44 R30.htm IDEA: XBRL DOCUMENT
v3.21.2

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | The following summarizes the Company’s outstanding derivative instruments:
|  |  |  |  |  | Fair Value
|  | Notional |  | Balance Sheet Location |  | Asset |  | Liability
September 30, 2021: |  |  |  |  |  |  |  |
Interest rate lock commitments |  | $ | 16,362,632 |  |  | Derivative asset, at fair value |  | $ | 266,118 |  |  | $ | — |
Interest rate lock commitments |  | 2,020,206 |  |  | Derivative liabilities, at fair value |  | — |  |  | 6,908 |
Forward sales contracts |  | 38,373,245 |  |  | Derivative asset, at fair value |  | 75,241 |  |  | — |
Forward sales contracts |  | 203,024 |  |  | Derivative liabilities, at fair value |  | — |  |  | 39 |
Put options on treasuries |  |  |  | Derivative asset, at fair value |  | — |  |  | — |
Put options on treasuries |  | 36,950 |  |  | Derivative liabilities, at fair value |  | — |  |  | 10,889 |
Interest rate swap futures |  |  |  | Derivative asset, at fair value |  | — |  |  | — |
Interest rate swap futures |  | 12,235 |  |  | Derivative liabilities, at fair value |  | — |  |  | 31,063 |
Total derivative financial instruments |  |  |  |  |  | $ | 341,359 |  |  | $ | 48,899 |
|  |  |  |  |  | Fair Value
|  | Notional |  | Balance Sheet Location |  | Asset |  | Liability
December 31, 2020: |  |  |  |  |  |  |  |
Interest rate lock commitments |  | $ | 31,365,494 |  |  | Derivative asset, at fair value |  | $ | 647,349 |  |  | $ | — |
Interest rate lock commitments |  | 99,635 |  |  | Derivative liabilities, at fair value |  | — |  |  | 304 |
Forward sales contracts |  | 44,694 |  |  | Derivative asset, at fair value |  | 107 |  |  | — |
Forward sales contracts |  | 54,397,834 |  |  | Derivative liabilities, at fair value |  | — |  |  | 163,566 |
Put options on treasuries |  | — |  |  | Derivative asset, at fair value |  | — |  |  | — |
Put options on treasuries |  | 27,803 |  |  | Derivative liabilities, at fair value |  | — |  |  | 4,299 |
Interest rate swap futures |  | 2,350 |  |  | Derivative asset, at fair value |  | 483 |  |  | — |
Interest rate swap futures |  | — |  |  | Derivative liabilities, at fair value |  | — |  |  | — |
Total derivative financial instruments |  |  |  |  |  | $ | 647,939 |  |  | $ | 168,169 |
Net Gains (Losses) on Derivative Financial Instruments | The following summarizes the realized and unrealized net gains and (losses) on derivative financial instruments and the consolidated statements of operations line items where such gains and losses are included:
|  |  |  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
Derivative instrument |  | Statements of Operations Location |  | 2021 |  | 2020 |  | 2021 |  | 2020 |  |
Interest rate lock commitments, net |  | Gain on origination and sale of loans, net |  | $ | (73,871) |  |  | $ | 202,144 |  |  | $ | (387,835) |  |  | $ | 593,450 |  |  |
Forward sales contracts (1) |  | Gain on origination and sale of loans, net |  | (29,867) |  |  | (181,681) |  |  | 477,215 |  |  | (530,186) |  |  |
Interest rate swap futures |  | Gain on origination and sale of loans, net |  | (29,683) |  |  | 534 |  |  | (81,891) |  |  | (5,739) |  |  |
Put options |  | Gain on origination and sale of loans, net |  | 19,891 |  |  | (10,475) |  |  | 47,063 |  |  | (16,404) |  |  |
Forward sales contracts (1) |  | Change in fair value of servicing rights, net |  | (5,838) |  |  | 28,290 |  |  | (84,842) |  |  | 106,315 |  |  |
Interest rate swap futures |  | Change in fair value of servicing rights, net |  | (14,033) |  |  | (1,350) |  |  | (6,855) |  |  | 20,274 |  |  |
Put options |  | Change in fair value of servicing rights, net |  | (1,682) |  |  | (631) |  |  | (2,461) |  |  | (1,259) |  |  |
Total realized and unrealized (losses) gains on derivative financial instruments |  | $ | (135,083) |  |  | $ | 36,831 |  |  | $ | (39,606) |  |  | $ | 166,451 |  |  |
(1)Amounts include pair-off settlements.

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

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration