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VARIABLE INTEREST ENTITIES (Tables)
9 Months Ended
Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Investment in VIEs The table below presents a summary of the carrying value and balance sheet classification of assets and liabilities in the Company’s consolidated VIEs.
September 30,
2021
December 31,
2020
Assets
Loans held for sale, at fair value$2,462,653 $1,595,442 
Restricted cash— 170,413 
Servicing rights, at fair value379,850 300,465 
$2,842,503 $2,066,320 
Liabilities
Warehouse and other lines of credit$2,399,544 $1,699,803 
Debt obligations, net214,008 213,640 
$2,613,552 $1,913,443 
The table below presents a summary of the nonconsolidated VIEs for which the Company holds variable interests.
September 30, 2021
Carrying value of variable interestsMaximum
exposure to loss in non-consolidated VIEs
Total assets in VIEs
AssetsLiabilities
Retained interests(1)
$56,412 $— $56,412 $1,085,924 
Investments in joint ventures18,353 — 18,353 12,295 
$74,765 $— $74,765 
December 31, 2020
Carrying value of variable interestsMaximum
exposure to loss in non-consolidated VIEs
Total assets in VIEs
AssetsLiabilities
Investments in joint ventures$17,528 $— $17,528 $15,342 
(1)Carrying value of retained interests is included within trading securities on the consolidated balance sheets.