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LOANS HELD FOR SALE, AT FAIR VALUE (Tables)
 12 Months Ended
Dec. 31, 2023
Receivables [Abstract]  
Schedule of Unpaid Principal Balance of LHFS by Type of Loan
The following table represents the unpaid principal balance of LHFS by product type of loan as of December 31, 2023 and 2022:
December 31, 2023December 31, 2022
Amount%Amount%
Conforming - fixed$1,211,449 57 %$1,441,497 59 %
Conforming - ARM18,592 1 52,513 2 
Government - fixed 777,860 36 815,921 34 
Government - ARM20,403 1 17,788 1 
Other - residential mortgage loans104,778 5 101,137 4 
Consumer loans— — 1,774 — 
Total2,133,082 100 %2,430,630 100 %
Fair value adjustment(202)(57,203)
Loans held for sale, at fair value$2,132,880 $2,373,427 
Summary of Changes in Balance of Loans Held For Sale
A summary of the changes in the balance of loans held for sale is as follows:
Year Ended December 31,
20232022
Balance at beginning of period$2,373,427 $8,136,817 
Origination and purchase of loans22,393,729 53,094,767 
Sales(23,013,399)(59,174,022)
Repurchases443,935 633,298 
Principal payments(129,752)(132,322)
Fair value gain (loss)
64,940 (185,111)
Balance at end of period$2,132,880 $2,373,427 
Components of Gain on Origination and Sale of Loans, Net
Gain on origination and sale of loans, net is comprised of the following components:
Year Ended December 31,
202320222021
(Discount) premium from loan sales$(135,943)$(933,547)$1,882,557 
Servicing rights additions277,387 647,716 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 costs306,115 275,981 (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 
Debt Securities, Held-For-Sale, Past Due
The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for LHFS.

December 31, 2023December 31, 2022
Fair valueUPBDifferenceFair valueUPBDifference
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