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Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value and Notional Amount of Derivative Financial Instruments
The following table presents the fair value and notional amount of our derivative financial instruments at June 30, 2024 and December 31, 2023.
Table 13.1 – Fair Value and Notional Amount of Derivative Financial Instruments
June 30, 2024December 31, 2023
Fair
Value		Notional
Amount		Fair
Value		Notional
Amount
(In Thousands)
Assets - Risk Management Derivatives
Interest rate swaps$— $— $1,742 $50,000 
TBAs1,778 710,000 952 385,000 
Interest rate futures457 79,000 — — 
Swaptions40,298 3,075,000 — — 
Assets - Other Derivatives
Loan purchase and interest rate lock commitments5,984 1,162,021 11,518 216,194 
Total Assets$48,517 $5,026,021 $14,212 $651,194 
Liabilities - Risk Management Derivatives
TBAs$(923)$330,000 $(27,020)$1,405,000 
Interest rate futures(2,717)348,200 (3,394)141,500 
Liabilities - Other Derivatives
Loan purchase commitments(2,314)386,548 (3,414)430,983 
Total Liabilities$(5,954)$1,064,748 $(33,828)$1,977,483 
Total Derivative Financial Instruments, Net$42,563 $6,090,769 $(19,616)$2,628,677 
Schedule of Offsetting of Financial Assets, Liabilities, and Collateral
The following table presents financial assets and liabilities that are subject to master netting arrangements or similar agreements categorized by financial instrument, together with the corresponding financial instruments and corresponding collateral received or pledged at June 30, 2024 and December 31, 2023.
Table 13.2 – Offsetting of Financial Assets, Liabilities, and Collateral
Gross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in Consolidated Balance SheetNet Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet
Gross Amounts Not Offset in Consolidated
Balance Sheet (1)
Net Amount
June 30, 2024 (In Thousands)Financial InstrumentsCash Collateral (Received) Pledged
Assets (2)
Interest rate agreements$40,298 $— $40,298 $— $(40,298)$— 
TBAs1,778 — 1,778 (145)(711)922 
Futures457 — 457 (457)— — 
Total Assets$42,533 $— $42,533 $(602)$(41,009)$922 
Liabilities (2)
TBAs$(923)$— $(923)$145 $778 $— 
Futures(2,717)— (2,717)457 2,260 — 
Loan warehouse debt(617,169)— (617,169)617,169 — — 
Total Liabilities$(620,809)$— $(620,809)$617,771 $3,038 $— 
Gross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in Consolidated Balance SheetNet Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet
Gross Amounts Not Offset in Consolidated
Balance Sheet (1)
Net Amount
December 31, 2023 (In Thousands)Financial InstrumentsCash Collateral (Received) Pledged
Assets (2)
Interest rate agreements$1,742 $— $1,742 $— $— $1,742 
TBAs952 — 952 (952)— — 
Futures— — — — — — 
Total Assets$2,694 $— $2,694 $(952)$— $1,742 
Liabilities (2)
TBAs$(27,020)$— $(27,020)$952 $25,484 $(584)
Futures(3,394)— (3,394)— 3,394 — 
Loan warehouse debt(471,900)— (471,900)471,900 — — 
Total Liabilities$(502,314)$— $(502,314)$472,852 $28,878 $(584)
(1)Amounts presented in these columns are limited in total to the net amount of assets or liabilities presented in the prior column by instrument. In certain cases, we have pledged excess cash collateral or financial assets to a counterparty (which, in certain circumstances, may be a clearinghouse) that exceed the financial liabilities subject to a master netting arrangement or similar agreement. Additionally, in certain cases, counterparties may have pledged excess cash collateral to us that exceeds our corresponding financial assets. In each case, these excess amounts are excluded from the table; they are separately reported in our consolidated balance sheets as assets or liabilities, respectively.
(2)Interest rate agreements, TBAs and futures are components of derivative instruments on our consolidated balance sheets. Loan warehouse debt, which is secured by certain Residential consumer and Residential investor loans, is a component of Debt obligations on our consolidated balance sheets.