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FAIR VALUE - Financial Statement Items on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020
--- | --- | --- | ---
Assets |  |  |
Loans held for sale, at fair value | $ 8,873,736 | $ 6,955,424 |
Derivative assets, at fair value | 341,359 | 647,939 |
Servicing rights, at fair value | 1,841,512 | 1,127,866 |
Trading securities | 56,412 | 0 |
Liabilities |  |  |
Derivative liabilities, at fair value | 48,899 | 168,169 |
Servicing rights, at fair value | 4,800 |  | $ 3,500
Fair Value, Recurring |  |  |
Assets |  |  |
Loans held for sale, at fair value | 8,873,736 | 6,955,424 |
Servicing rights, at fair value | 1,841,512 | 1,127,866 |
Trading securities | 56,412 |  |
Liabilities |  |  |
Servicing rights, at fair value | 4,818 | 3,564 |
Fair Value, Recurring | Level 1 |  |  |
Assets |  |  |
Loans held for sale, at fair value | 0 | 0 |
Servicing rights, at fair value | 0 | 0 |
Trading securities | 0 |  |
Liabilities |  |  |
Servicing rights, at fair value | 0 | 0 |
Fair Value, Recurring | Level 2 |  |  |
Assets |  |  |
Loans held for sale, at fair value | 8,873,736 | 6,955,424 |
Servicing rights, at fair value | 0 | 0 |
Trading securities | 56,412 |  |
Liabilities |  |  |
Servicing rights, at fair value | 0 | 0 |
Fair Value, Recurring | Level 3 |  |  |
Assets |  |  |
Loans held for sale, at fair value | 0 | 0 |
Servicing rights, at fair value | 1,841,512 | 1,127,866 |
Trading securities | 0 |  |
Liabilities |  |  |
Servicing rights, at fair value | 4,818 | 3,564 |
Fair Value, Recurring | Carrying Amount |  |  |
Assets |  |  |
Cash and cash equivalents | 506,608 | 284,224 |
Restricted cash | 97,805 | 204,465 |
Loans held for sale, at fair value | 8,873,736 | 6,955,424 |
Derivative assets, at fair value | 341,359 | 647,939 |
Servicing rights, at fair value | 1,841,512 | 1,127,866 |
Trading securities | 56,412 |  |
Loans eligible for repurchase | 632,722 | 1,246,158 |
Liabilities |  |  |
Warehouse and other lines of credit | 8,212,142 | 6,577,429 |
Derivative liabilities, at fair value | 48,899 | 168,169 |
Servicing rights, at fair value | 4,818 | 3,564 |
Liability for loans eligible for repurchase | 632,722 | 1,246,158 |
Fair Value, Recurring | Carrying Amount | Secured credit facilities |  |  |
Liabilities |  |  |
Debt obligations | 99,707 |  |
Fair Value, Recurring | Carrying Amount | 2020-VF1 Notes |  |  |
Liabilities |  |  |
Debt obligations | 10,382 | 7,571 |
Fair Value, Recurring | Carrying Amount | GMSR VFN |  |  |
Liabilities |  |  |
Debt obligations | 15,000 | 15,000 |
Fair Value, Recurring | Carrying Amount | Term notes |  |  |
Liabilities |  |  |
Debt obligations | 199,008 | 198,640 |
Fair Value, Recurring | Carrying Amount | Senior notes |  |  |
Liabilities |  |  |
Debt obligations | 1,084,654 | 491,255 |
Fair Value, Recurring | Estimated Fair Value | Level 1 |  |  |
Assets |  |  |
Cash and cash equivalents | 506,608 | 284,224 |
Restricted cash | 97,805 | 204,465 |
Loans held for sale, at fair value | 0 | 0 |
Derivative assets, at fair value | 0 | 483 |
Servicing rights, at fair value | 0 | 0 |
Trading securities | 0 |  |
Loans eligible for repurchase | 0 | 0 |
Liabilities |  |  |
Warehouse and other lines of credit | 0 | 0 |
Derivative liabilities, at fair value | 41,952 | 4,299 |
Servicing rights, at fair value | 0 | 0 |
Liability for loans eligible for repurchase | 0 | 0 |
Fair Value, Recurring | Estimated Fair Value | Level 1 | Secured credit facilities |  |  |
Liabilities |  |  |
Debt obligations | 0 |  |
Fair Value, Recurring | Estimated Fair Value | Level 1 | 2020-VF1 Notes |  |  |
Liabilities |  |  |
Debt obligations | 0 | 0 |
Fair Value, Recurring | Estimated Fair Value | Level 1 | GMSR VFN |  |  |
Liabilities |  |  |
Debt obligations | 0 | 0 |
Fair Value, Recurring | Estimated Fair Value | Level 1 | Term notes |  |  |
Liabilities |  |  |
Debt obligations | 0 | 0 |
Fair Value, Recurring | Estimated Fair Value | Level 1 | Senior notes |  |  |
Liabilities |  |  |
Debt obligations | 0 | 0 |
Fair Value, Recurring | Estimated Fair Value | Level 2 |  |  |
Assets |  |  |
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Loans held for sale, at fair value | 8,873,736 | 6,955,424 |
Derivative assets, at fair value | 75,241 | 107 |
Servicing rights, at fair value | 0 | 0 |
Trading securities | 56,412 |  |
Loans eligible for repurchase | 632,722 | 1,246,158 |
Liabilities |  |  |
Warehouse and other lines of credit | 8,212,142 | 6,577,429 |
Derivative liabilities, at fair value | 39 | 163,566 |
Servicing rights, at fair value | 0 | 0 |
Liability for loans eligible for repurchase | 632,722 | 1,246,158 |
Fair Value, Recurring | Estimated Fair Value | Level 2 | Secured credit facilities |  |  |
Liabilities |  |  |
Debt obligations | 99,707 |  |
Fair Value, Recurring | Estimated Fair Value | Level 2 | 2020-VF1 Notes |  |  |
Liabilities |  |  |
Debt obligations | 10,382 | 8,593 |
Fair Value, Recurring | Estimated Fair Value | Level 2 | GMSR VFN |  |  |
Liabilities |  |  |
Debt obligations | 15,000 | 15,000 |
Fair Value, Recurring | Estimated Fair Value | Level 2 | Term notes |  |  |
Liabilities |  |  |
Debt obligations | 200,000 | 200,000 |
Fair Value, Recurring | Estimated Fair Value | Level 2 | Senior notes |  |  |
Liabilities |  |  |
Debt obligations | 1,066,278 | 518,245 |
Fair Value, Recurring | Estimated Fair Value | Level 3 |  |  |
Assets |  |  |
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Loans held for sale, at fair value | 0 | 0 |
Derivative assets, at fair value | 266,118 | 647,349 |
Servicing rights, at fair value | 1,841,512 | 1,127,866 |
Trading securities | 0 |  |
Loans eligible for repurchase | 0 | 0 |
Liabilities |  |  |
Warehouse and other lines of credit | 0 | 0 |
Derivative liabilities, at fair value | 6,908 | 304 |
Servicing rights, at fair value | 4,818 | 3,564 |
Liability for loans eligible for repurchase | 0 | 0 |
Fair Value, Recurring | Estimated Fair Value | Level 3 | Secured credit facilities |  |  |
Liabilities |  |  |
Debt obligations | 0 |  |
Fair Value, Recurring | Estimated Fair Value | Level 3 | 2020-VF1 Notes |  |  |
Liabilities |  |  |
Debt obligations | 0 |  |
Fair Value, Recurring | Estimated Fair Value | Level 3 | GMSR VFN |  |  |
Liabilities |  |  |
Debt obligations | 0 | 0 |
Fair Value, Recurring | Estimated Fair Value | Level 3 | Term notes |  |  |
Liabilities |  |  |
Debt obligations | 0 | 0 |
Fair Value, Recurring | Estimated Fair Value | Level 3 | Senior notes |  |  |
Liabilities |  |  |
Debt obligations | $ 0 | $ 0 |

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