XML 24 R11.htm IDEA: XBRL DOCUMENT
v3.24.0.1

LOANS HELD FOR SALE, AT FAIR VALUE | 12 Months Ended
--- | ---
Dec. 31, 2023
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 December 31, 2023 and 2022:
|  | December 31, 2023 |  | December 31, 2022
|  | Amount |  | % |  | Amount |  | %
Conforming - fixed |  | $ | 1,211,449 |  |  | 57 | % |  | $ | 1,441,497 |  |  | 59 | %
Conforming - ARM |  | 18,592 |  |  | 1 |  |  | 52,513 |  |  | 2 |
Government - fixed |  | 777,860 |  |  | 36 |  |  | 815,921 |  |  | 34 |
Government - ARM |  | 20,403 |  |  | 1 |  |  | 17,788 |  |  | 1 |
Other - residential mortgage loans |  | 104,778 |  |  | 5 |  |  | 101,137 |  |  | 4 |
Consumer loans |  | — |  |  | — |  |  | 1,774 |  |  | — |
Total |  | 2,133,082 |  |  | 100 | % |  | 2,430,630 |  |  | 100 | %
Fair value adjustment |  | (202) |  |  |  |  | (57,203) |  |  |
Loans held for sale, at fair value |  | $ | 2,132,880 |  |  |  |  | $ | 2,373,427 |  |  |
A summary of the changes in the balance of loans held for sale is as follows:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  |
Balance at beginning of period |  | $ | 2,373,427 |  |  | $ | 8,136,817 |  |  |
Origination and purchase of loans |  | 22,393,729 |  |  | 53,094,767 |  |  |
Sales |  | (23,013,399) |  |  | (59,174,022) |  |  |
Repurchases |  | 443,935 |  |  | 633,298 |  |  |
Principal payments |  | (129,752) |  |  | (132,322) |  |  |
Fair value gain (loss) |  | 64,940 |  |  | (185,111) |  |  |
Balance at end of period |  | $ | 2,132,880 |  |  | $ | 2,373,427 |  |  |
Gain on origination and sale of loans, net is comprised of the following components:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
(Discount) premium from loan sales |  | $ | (135,943) |  |  | $ | (933,547) |  |  | $ | 1,882,557 |
Servicing rights additions |  | 277,387 |  |  | 647,716 |  |  | 1,610,596 |
Unrealized losses from derivative assets and liabilities |  | (35,430) |  |  | (134,519) |  |  | (308,200) |
Realized gains from derivative assets and liabilities |  | 55,631 |  |  | 1,215,013 |  |  | 347,014 |
Discount points, rebates and lender paid costs |  | 306,115 |  |  | 275,981 |  |  | (206,716) |
Fair value gain (loss) on loans held for sale |  | 64,940 |  |  | (185,111) |  |  | (104,715) |
Provision for loan loss obligation for loans sold |  | (8,179) |  |  | (136,993) |  |  | (7,185) |
Total gain on origination and sale of loans, net |  | $ | 524,521 |  |  | $ | 748,540 |  |  | $ | 3,213,351 |
The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for LHFS.
|  | December 31, 2023 |  | December 31, 2022
|  | Fair value |  | UPB |  | Difference |  | Fair value |  | UPB |  | Difference
Current through 89 days delinquent |  | $ | 2,113,106 |  |  | $ | 2,108,125 |  |  | $ | 4,980 |  |  | $ | 2,353,732 |  |  | $ | 2,405,842 |  |  | $ | (52,110) |
90+ days delinquent(1) |  | 19,774 |  |  | 24,957 |  |  | (5,182) |  |  | 19,695 |  |  | 24,788 |  |  | (5,093) |
Total |  | $ | 2,132,880 |  |  | $ | 2,133,082 |  |  | $ | (202) |  |  | $ | 2,373,427 |  |  | $ | 2,430,630 |  |  | $ | (57,203) |
(1) 90+ days delinquent loans are on non-accrual status.

X
- 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 -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//310-10/tableOfContent + Details
Name: | us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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