XML 46 R27.htm IDEA: XBRL DOCUMENT v3.25.3
LOANS HELD FOR SALE, AT FAIR VALUE (Tables)
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Schedule of Unpaid Principal Balance of LHFS by Type of Loan
The following table represents the unpaid principal balance of loans held for sale by product type of loan as of September 30, 2025 and December 31, 2024:
September 30,
2025		December 31,
2024
Amount%Amount%
Conforming - fixed$1,003,172 39 %$1,185,638 46 %
Conforming - ARM114,717 4 41,661 2 
Government - fixed 865,237 34 986,799 38 
Government - ARM68,970 3 36,330 1 
Other - residential mortgage loans454,024 18 288,480 11 
HELOC56,418 2 58,849 2 
Total2,562,538 100 %2,597,757 100 %
Fair value adjustment43,823 5,978 
Loans held for sale, at fair value$2,606,361 $2,603,735 
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:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Balance at beginning of period$2,622,959 $2,377,987 $2,603,735 $2,132,880 
Origination and purchase of loans6,398,006 6,545,027 18,021,886 17,026,481 
Sales(6,651,025)(6,311,590)(18,739,780)(16,527,301)
Transfers to loans held for investment
— — — (122,532)
Repurchases247,187 174,747 737,203 462,520 
Principal payments(17,379)(19,396)(52,734)(200,983)
Fair value gain
6,613 23,509 36,051 19,219 
Balance at end of period$2,606,361 $2,790,284 $2,606,361 $2,790,284 
Components of Gain on Origination and Sale of Loans, Net
Gain on origination and sale of loans, net is comprised of the following components:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Premium from loan sales
$61,217 $81,081 $79,415 $100,406 
Servicing rights additions69,163 62,039 188,789 176,529 
Unrealized gains (losses) from derivative assets and liabilities
2,613 1,887 (15,629)58,071 
Realized losses from derivative assets and liabilities
(33,569)(59,712)(17,326)(105,609)
Discount points, rebates and lender paid costs97,749 86,116 277,547 220,111 
Fair value gain
6,613 23,509 36,051 19,219 
(Provision) recovery for loan loss obligation for loans sold
(2,482)3,107 (6,357)12,280 
Total gain on origination and sale of loans, net$201,304 $198,027 $542,490 $481,007 
Schedule of 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 loans held for sale.
September 30, 2025December 31, 2024
Fair valueUPBDifferenceFair valueUPBDifference
Current through 89 days delinquent$2,598,438 $2,553,037 $45,402 $2,582,937 $2,574,623 $8,314 
90+ days delinquent(1)
7,923 9,501 (1,579)20,798 23,134 (2,336)
Total$2,606,361 $2,562,538 $43,823 $2,603,735 $2,597,757 $5,978 
(1)     90+ days delinquent loans are on non-accrual status.