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Derivative Financial Instruments and Hedging Activities (Tables)

12 Months Ended

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.

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