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LOANS HELD FOR SALE, AT FAIR VALUE | 6 Months Ended
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Jun. 30, 2022
Receivables [Abstract] |
LOANS HELD FOR SALE, AT FAIR VALUE | LOANS HELD FOR SALE, AT FAIR VALUE The following table represents the unpaid principal balance of LHFS by product type of loan as of June 30, 2022 and December 31, 2021:
|  | June 30, 2022 |  | December 31, 2021
|  | Amount |  | % |  | Amount |  | %
Conforming - fixed |  | $ | 3,018,321 |  |  | 64% |  | $ | 4,881,222 |  |  | 61%
Conforming - ARM |  | 26,694 |  |  | 1 |  | 351,408 |  |  | 4
Government - fixed |  | 1,003,598 |  |  | 21 |  | 1,156,890 |  |  | 15
Government - ARM |  | 6,951 |  |  | — |  | 10,906 |  |  | —
Other - residential mortgage loans |  | 648,560 |  |  | 14 |  | 1,576,858 |  |  | 20
Consumer loans |  | 1,819 |  |  | — |  | 1,942 |  |  | —
|  | 4,705,943 |  |  | 100% |  | 7,979,226 |  |  | 100%
Fair value adjustment |  | (49,605) |  |  |  |  | 157,591 |  |  |
Total |  | $ | 4,656,338 |  |  |  |  | $ | 8,136,817 |  |  |
A summary of the changes in the balance of loans held for sale is as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Balance at beginning of period |  | $ | 6,558,668 |  |  | $ | 8,787,756 |  |  | $ | 8,136,817 |  |  | $ | 6,955,424 |
Origination and purchase of loans |  | 15,769,229 |  |  | 34,413,319 |  |  | 37,142,855 |  |  | 75,814,894 |
Sales |  | (17,876,229) |  |  | (34,294,254) |  |  | (40,681,596) |  |  | (74,213,668) |
Repurchases |  | 194,650 |  |  | 111,385 |  |  | 333,666 |  |  | 663,700 |
Principal payments |  | (40,598) |  |  | (43,206) |  |  | (100,885) |  |  | (66,506) |
Fair value gain (loss) |  | 50,618 |  |  | 145,653 |  |  | (174,519) |  |  | (33,191) |
Balance at end of period |  | $ | 4,656,338 |  |  | $ | 9,120,653 |  |  | $ | 4,656,338 |  |  | $ | 9,120,653 |
Gain on origination and sale of loans, net is comprised of the following components:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
(Discount) premium from loan sales |  | $ | (437,194) |  |  | $ | 407,314 |  |  | $ | (673,291) |  |  | $ | 877,887 |
Servicing rights |  | 180,455 |  |  | 427,458 |  |  | 450,215 |  |  | 957,002 |
Unrealized losses from derivative assets and liabilities |  | (190,545) |  |  | (510,788) |  |  | (31,803) |  |  | (182,467) |
Realized gains from derivative assets and liabilities |  | 553,834 |  |  | 250,912 |  |  | 902,875 |  |  | 350,548 |
Discount points, rebates and lender paid costs |  | 71,767 |  |  | (28,603) |  |  | 131,834 |  |  | (143,458) |
Fair value gain (loss) |  | 50,618 |  |  | 145,653 |  |  | (174,519) |  |  | (33,191) |
Provision for loan loss obligation for loans sold |  | (82,373) |  |  | 533 |  |  | (95,619) |  |  | (267) |
Total gain on origination and sale of loans, net |  | $ | 146,562 |  |  | $ | 692,479 |  |  | $ | 509,692 |  |  | $ | 1,826,054 |
The Company had $23.7 million and $28.8 million of loans held for sale on non-accrual status as of June 30, 2022 and December 31, 2021, respectively.

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI https://asc.fasb.org/subtopic&trid=2196772 + Details
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