XML 56 R44.htm IDEA: XBRL DOCUMENT
v3.25.2

Derivative Financial Instruments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value and Notional Amount of Derivatives | The following table presents the fair value and notional amount of our derivatives at June 30, 2025 and December 31, 2024. Table 13.1 – Fair Value and Notional Amount of Derivatives
|  | June 30, 2025 |  | December 31, 2024
|  | Fair Value |  | Notional Amount |  | Fair Value |  | Notional Amount
(In Thousands) |  |  |  |
Assets - Risk Management Derivatives |  |  |  |  |  |  |  |
TBAs |  | $ | 61,249 |  |  | $ | 5,960,000 |  |  | $ | — |  |  | $ | — |
Interest rate futures |  | 19,876 |  |  | 2,006,800 |  |  | 16,446 |  |  | 712,500 |
Swaptions |  | 124,518 |  |  | 6,550,000 |  |  | 23,738 |  |  | 8,245,000 |
Assets - Other Derivatives |  |  |  |  |  |  |  |
LPCs and IRLCs |  | 14,154 |  |  | 2,008,104 |  |  | 5,819 |  |  | 919,888 |
Total Assets (1) |  | $ | 219,797 |  |  | $ | 16,524,904 |  |  | $ | 46,003 |  |  | $ | 9,877,388 |
Liabilities - Risk Management Derivatives |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | (10,519) |  |  | $ | 1,000,000 |  |  | $ | — |  |  | $ | — |
TBAs |  | (27,082) |  |  | 2,760,000 |  |  | (16,249) |  |  | 1,350,000 |
Interest rate futures |  | (30,379) |  |  | 1,739,500 |  |  | (6,915) |  |  | 830,500 |
Liabilities - Other Derivatives |  |  |  |  |  |  |  |
LPCs (2) |  | (846) |  |  | 341,616 |  |  | (496) |  |  | 157,985 |
Total Liabilities (1) |  | $ | (68,826) |  |  | $ | 5,841,116 |  |  | $ | (23,660) |  |  | $ | 2,338,485 |
Total Derivatives, Net (1) |  | $ | 150,971 |  |  | $ | 22,366,020 |  |  | $ | 22,343 |  |  | $ | 12,215,873 |
(1)For the purpose of this presentation, derivative assets and liabilities are presented on a gross and a net basis.
Schedule of Market Valuation Gains (Losses) on Derivatives, Net | The following table presents the market valuation gains and losses on our derivatives for the three and six months ended June 30, 2025 and 2024. Table 13.2 – Market Valuation Gains (Losses) on Derivatives, net
|  | Three Months Ended June 30, 2025 |  | Three Months Ended June 30, 2024
(In Thousands) |  |
Risk Management Derivatives (1) |  | $ | 65,119 |  |  | $ | (9,842) |
LPCs and IRLCs (2) |  | 8,635 |  |  | 7,881 |
Market Valuation Gains (Losses) on Derivatives, net |  | $ | 73,754 |  |  | $ | (1,961) |
|  | Six Months Ended June 30, 2025 |  | Six Months Ended June 30, 2024
(In Thousands) |  |
Risk Management Derivatives (1) |  | $ | 103,592 |  |  | $ | 137 |
LPCs and IRLCs (2) |  | 39,889 |  |  | 1,530 |
Market Valuation Gains on Derivatives, net |  | $ | 143,481 |  |  | $ | 1,667 |
(1)Market valuation gains (losses) on risk management derivatives used to manage the mark-to-market risks associated with our Mortgage Banking operations are recorded in Mortgage banking activities, net and market valuation gains (losses) on all other derivatives are recorded in Investment fair value changes, net on our consolidated statements of income. (2)Market valuation gains (losses) on LPCs and IRLCs are recorded in Mortgage banking activities, net on our consolidated statements of income.

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

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration