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v3.23.1

Fair Value of Financial Instruments - Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2023 | Mar. 31, 2022
Point Noncontrolling Interest |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance - December 31, 2022 | $ 22,329 |
Acquisitions | 0 |
Principal paydowns | 0 |
Gains (losses) in net income, net | 768 |
Other settlements, net | 0 |
Ending balance - March 31. 2023 | 23,097 |
ABS Issued |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance - December 31, 2022 | 7,424,132 |
Acquisitions | 594,327 |
Principal paydowns | (181,696) |
Gains (losses) in net income, net | 131,372 |
Other settlements, net | 0 |
Ending balance - March 31. 2023 | 7,968,135 |
Residential Loans |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance - December 31, 2022 | 5,613,157 |
Acquisitions | 51,816 |
Acquisitions | 53,000 | $ 2,120,000
Originations | 0 |
Sales | (163,695) |
Principal paydowns | (111,710) |
Gains (losses) in net income, net | 103,660 |
Unrealized losses in OCI, net | 0 |
Other settlements, net | (400) |
Ending balance - March 31, 2023 | 5,492,828 |
Business purpose loans |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance - December 31, 2022 | 5,332,586 |
Acquisitions | 0 |
Originations | 438,390 |
Sales | (205,135) |
Principal paydowns | (248,311) |
Gains (losses) in net income, net | 52,015 |
Unrealized losses in OCI, net | 0 |
Other settlements, net | (4,896) |
Ending balance - March 31, 2023 | 5,364,649 |
Consolidated Agency multifamily loans |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance - December 31, 2022 | 424,552 |
Acquisitions | 0 |
Originations | 0 |
Sales | 0 |
Principal paydowns | (2,113) |
Gains (losses) in net income, net | 4,160 |
Unrealized losses in OCI, net | 0 |
Other settlements, net | 0 |
Ending balance - March 31, 2023 | 426,599 |
Trading Securities |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance - December 31, 2022 | 108,329 |
Acquisitions | 1,700 |
Originations | 0 |
Sales | (3,509) |
Principal paydowns | (115) |
Gains (losses) in net income, net | 1,961 |
Unrealized losses in OCI, net | 0 |
Other settlements, net | 0 |
Ending balance - March 31, 2023 | 108,366 |
Available-for-sale securities |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance - December 31, 2022 | 132,146 |
Acquisitions | 0 |
Originations | 0 |
Sales | (2,150) |
Principal paydowns | (139) |
Gains (losses) in net income, net | 263 |
Unrealized losses in OCI, net | 4,860 |
Other settlements, net | 0 |
Ending balance - March 31, 2023 | 134,980 |
Servicer Advance Investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance - December 31, 2022 | 269,259 |
Acquisitions | 0 |
Originations | 0 |
Sales | 0 |
Principal paydowns | (7,529) |
Gains (losses) in net income, net | (1,352) |
Unrealized losses in OCI, net | 0 |
Other settlements, net | 0 |
Ending balance - March 31, 2023 | 260,378 |
Excess MSRs |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance - December 31, 2022 | 39,035 |
Acquisitions | 0 |
Originations | 0 |
Sales | 0 |
Principal paydowns | 0 |
Gains (losses) in net income, net | (228) |
Unrealized losses in OCI, net | 0 |
Other settlements, net | 0 |
Ending balance - March 31, 2023 | 38,807 |
HEIs |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance - December 31, 2022 | 403,462 |
Acquisitions | 16,559 |
Acquisitions | 17,000 |
Originations | 0 |
Sales | 0 |
Principal paydowns | (7,754) |
Gains (losses) in net income, net | 4,516 |
Unrealized losses in OCI, net | 0 |
Other settlements, net | 0 |
Ending balance - March 31, 2023 | 416,783 |
MSRs |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance - December 31, 2022 | 31,576 |
Acquisitions | 0 |
Acquisitions |  | $ 6,000
Originations | 0 |
Sales | (272) |
Principal paydowns | (70) |
Gains (losses) in net income, net | (676) |
Unrealized losses in OCI, net | 0 |
Other settlements, net | 0 |
Ending balance - March 31, 2023 | 30,558 |
Derivatives |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance - December 31, 2022 | 322 |
Acquisitions | 0 |
Principal paydowns | 0 |
Gains (losses) in net income, net | 88 |
Other settlements, net | 57 |
Ending balance - March 31, 2023 | $ 353 |

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