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Derivative Financial Instruments and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Changes in Notional Balances of Holdings of Derivatives | The table below summarizes the fair value, notional and maturity of our derivative instruments. The notional amount of our contracts does not represent our exposure to credit loss. None of the derivatives were designated as a hedge for accounting purposes as of or during the years ended December 31, 2020 and 2019:
|  | December 31, 2020 |  | December 31, 2019
|  | Maturities | Notional | Fair value |  | Maturities | Notional | Fair value
Derivative Assets |  |  |  |  |  |  |  |
Forward sales of Reverse loans |  | Jan. 2021 | $ | 30,000 |  | $ | 34 |  |  | Jan. 2020 | $ | 40,000 |  | $ | 8 |
Forward loans IRLCs |  | Apr. 2021 | 619,713 |  | 22,224 |  |  | Mar. 2020 | 204,020 |  | 4,745 |
Reverse loans IRLCs |  | Jan. 2021 | 11,692 |  | 482 |  |  | Jan. 2020 | 28,546 |  | 133 |
TBA forward MBS trades |  | N/A | — |  | — |  |  | Jan to Mar. 2020 | 1,200,000 |  | 1,121 |
Interest rate swap futures |  | Mar. 2021 | 593,500 |  | 504 |  |  | N/A | — |  | — |
Other |  |  | — |  | 2 |  |  | N/A | — |  | — |
Total |  |  | $ | 1,254,905 |  | $ | 23,246 |  |  |  | $ | 1,472,566 |  | $ | 6,007 |
Derivative Liabilities |  |  |  |  |  |  |  |
Forward sales of Reverse loans |  | Jan. 2021 | $ | 20,000 |  | $ | (84) |  |  | Jan. 2020 | $ | 20,000 |  | $ | (29) |
TBA forward MBS trades |  | Jan. 2021 | 400,000 |  | (4,554) |  |  | N/A | — |  | — |
Borrowings - Interest rate caps |  | N/A | — |  | — |  |  | May 2020 | 27,083 |  | — |
Other |  | N/A | — |  | — |  |  | N/A | — |  | (71) |
Total |  |  | $ | 420,000 |  | $ | (4,638) |  |  |  | $ | 47,083 |  | $ | (100) |
The table below summarizes the net gains and losses of our derivative instruments recognized in our consolidated statement of operations.
| Year Ended December 31, 2020 |  | Year Ended December 31, 2019
| Gain / (Loss) |  | Gain / (Loss)
| Amount | Financial Statement Line |  | Amount | Financial Statement Line
Derivative Instruments |  |  |  |  |
Forward loans IRLCs | $ | 17,479 |  | Gain on loans held for sale, net |  | $ | 756 |  | Gain on loans held for sale, net
Reverse loans IRLCs | 349 |  | Reverse mortgage revenue, net |  | 543 |  | Reverse mortgage revenue, net
Forward LHFS trades | — |  |  |  | (3,833) |  | Gain on loans held for sale, net (Economic hedge)
Interest rate swap futures and TBA forward MBS trades | (10,140) |  | Gain on loans held for sale, net (Economic hedge) |  | 471 |  | Gain on loans held for sale, net (Economic hedge)
Interest rate swap futures and TBA forward MBS trades | 27,538 |  | MSR valuation adjustments, net |  | 525 |  | MSR valuation adjustments, net
Forward sales of Reverse loans | (29) |  | Reverse mortgage revenue, net |  | 91 |  | Reverse mortgage revenue, net
Borrowings - interest rate caps | — |  | Other, net |  | (358) |  | Other, net
Other | 73 |  | Gain on loans held for sale, net |  | 673 |  | Gain on loans held for sale, net (Economic hedge)
| $ | 35,270 |  |  |  | $ | (1,132) |  |

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- 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579240-113959 + Details
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