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v3.21.1

Fair Value - Schedule of Fair Value Assets and Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019
--- | --- | --- | --- | ---
Loans held for sale |  |  |  |
Loans held for sale, at fair value | $ 500,814 | $ 366,364 | $ 203,592 | $ 208,752
Financial liabilities: |  |  |  |
Advance match funded liabilities | 550,437 | 581,288 |  |
HMBS-related borrowings | 6,778,195 | 6,772,711 | 6,323,091 | 6,063,434
Financing liabilities: |  |  |  |
Other financing liabilities, at fair value | 559,184 | 576,722 |  |
Total Financing liabilities | 7,337,379 | 7,349,433 |  |
Other secured borrowings: |  |  |  |
Total Other secured borrowings | 1,066,022 | 1,069,161 |  |
Senior Notes [Abstract] |  |  |  |
Senior notes, net | 542,927 | 311,898 |  |
Derivative financial instruments assets (liabilities): |  |  |  |
Interest rate swap futures | 10,012 | 4,638 |  |
Mortgage servicing rights |  |  |  |
Mortgage servicing rights, at fair value | 1,400,217 | 1,294,817 | $ 1,050,228 | $ 1,486,395
Carrying Value |  |  |  |
Loans held for sale |  |  |  |
Total Loans held for sale | 517,823 | 387,836 |  |
Loans held for investment | 7,053,194 | 7,006,897 |  |
Financing liabilities: |  |  |  |
Total Financing liabilities | 7,337,379 | 7,349,433 |  |
Other secured borrowings: |  |  |  |
Total Other secured borrowings | 1,066,022 | 1,069,161 |  |
Senior Notes [Abstract] |  |  |  |
Senior notes, net | 542,927 | 311,898 |  |
Fair Value |  |  |  |
Loans held for sale |  |  |  |
Total Loans held for sale | 517,823 | 387,836 |  |
Loans held for investment | 7,053,194 | 7,006,897 |  |
Financing liabilities: |  |  |  |
Total Financing liabilities | 7,337,379 | 7,349,433 |  |
Other secured borrowings: |  |  |  |
Total Other secured borrowings | 1,037,199 | 1,043,212 |  |
Senior Notes [Abstract] |  |  |  |
Senior notes, net | 579,855 | 320,879 |  |
Level 2 | Carrying Value |  |  |  |
Loans held for sale |  |  |  |
Loans held for sale, at fair value | 500,814 | 366,364 |  |
Corporate bonds | 211 | 211 |  |
Other secured borrowings: |  |  |  |
Senior secured term loan | 0 | 179,776 |  |
Senior Notes [Abstract] |  |  |  |
Senior secured notes | 391,377 | 311,898 |  |
Derivative financial instruments assets (liabilities): |  |  |  |
Forward trades - Loans held for sale | (52) | (50) |  |
Level 2 | Fair Value |  |  |  |
Loans held for sale |  |  |  |
Loans held for sale, at fair value | 500,814 | 366,364 |  |
Corporate bonds | 211 | 211 |  |
Other secured borrowings: |  |  |  |
Senior secured term loan | 0 | 184,639 |  |
Senior Notes [Abstract] |  |  |  |
Senior secured notes | 399,537 | 320,879 |  |
Derivative financial instruments assets (liabilities): |  |  |  |
Forward trades - Loans held for sale | (52) | (50) |  |
Level 3 | Carrying Value |  |  |  |
Loans held for sale |  |  |  |
Loans held for sale, at lower of cost or fair value | 17,009 | 21,472 |  |
Loans held for investment | 7,044,374 | 6,997,127 |  |
Advances (including match funded) | 786,678 | 828,239 |  |
Receivables, net | 178,209 | 187,665 |  |
Mortgage-backed securities, at fair value | 1,613 | 2,019 |  |
Financial liabilities: |  |  |  |
Advance match funded liabilities | 550,437 | 581,288 |  |
HMBS-related borrowings | 6,778,195 | 6,772,711 |  |
Other secured borrowings: |  |  |  |
Other | 1,066,022 | 889,385 |  |
Derivative financial instruments assets (liabilities): |  |  |  |
Interest rate lock commitments | 14,589 | 22,706 |  |
Other | (14) | 0 |  |
Mortgage servicing rights |  |  |  |
Mortgage servicing rights, at fair value | 1,400,217 | 1,294,817 |  |
Level 3 | Carrying Value | Second Lien |  |  |  |
Senior Notes [Abstract] |  |  |  |
Senior secured notes | 151,550 | 0 |  |
Level 3 | Fair Value |  |  |  |
Loans held for sale |  |  |  |
Loans held for sale, at lower of cost or fair value | 17,009 | 21,472 |  |
Loans held for investment | 7,044,374 | 6,997,127 |  |
Advances (including match funded) | 786,678 | 828,239 |  |
Receivables, net | 178,209 | 187,665 |  |
Mortgage-backed securities, at fair value | 1,613 | 2,019 |  |
Financial liabilities: |  |  |  |
Advance match funded liabilities | 550,862 | 581,997 |  |
HMBS-related borrowings | 6,778,195 | 6,772,711 |  |
Other secured borrowings: |  |  |  |
Other | 1,037,199 | 858,573 |  |
Derivative financial instruments assets (liabilities): |  |  |  |
Interest rate lock commitments | 14,589 | 22,706 |  |
Other |  | 0 |  |
Mortgage servicing rights |  |  |  |
Mortgage servicing rights, at fair value | 1,400,217 | 1,294,817 |  |
Level 3 | Fair Value | Second Lien |  |  |  |
Senior Notes [Abstract] |  |  |  |
Senior secured notes | 180,318 | 0 |  |
Level 1 | Carrying Value |  |  |  |
Derivative financial instruments assets (liabilities): |  |  |  |
TBA Forward Mortgage Backed Securities Assets Trades | 480 |  |  |
TBA/Forward Mortgage Backed Securities Trades |  | (4,554) |  |
Interest rate swap futures | (9,532) | 504 |  |
Level 1 | Fair Value |  |  |  |
Derivative financial instruments assets (liabilities): |  |  |  |
TBA Forward Mortgage Backed Securities Assets Trades | 480 |  |  |
TBA/Forward Mortgage Backed Securities Trades |  | (4,554) |  |
Interest rate swap futures | (9,532) | 504 |  |
Loans Held for Investment Securitization Trusts | Level 3 | Carrying Value |  |  |  |
Loans held for sale |  |  |  |
Loans held for investment | 8,820 | 9,770 |  |
Loans Held for Investment Securitization Trusts | Level 3 | Fair Value |  |  |  |
Loans held for sale |  |  |  |
Loans held for investment | 8,820 | 9,770 |  |
Financing Liability - MSRs Pledged | Level 3 | Carrying Value |  |  |  |
Financing liabilities: |  |  |  |
Other financing liabilities, at fair value | 550,364 | 566,952 |  |
Financing Liability - MSRs Pledged | Level 3 | Fair Value |  |  |  |
Financing liabilities: |  |  |  |
Other financing liabilities, at fair value | 550,364 | 566,952 |  |
Financing Liability Owed to Securitization Investors | Level 3 | Carrying Value |  |  |  |
Financing liabilities: |  |  |  |
Other financing liabilities, at fair value | 8,820 | 9,770 |  |
Financing Liability Owed to Securitization Investors | Level 3 | Fair Value |  |  |  |
Financing liabilities: |  |  |  |
Other financing liabilities, at fair value | $ 8,820 | $ 9,770 |  |

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- Definition Fair value as of the balance sheet date of forward mortgage-backed securities trades, which provides economic hedge against those changes in fair value on mortgage loans from the date of closing loans with borrowers to the date till those loans are sold in secondary market. + References No definition available. + Details
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- Definition This represents the amount of liability which is a resultant of reverse mortgage loans sold into the secondary with servicing rights retained. As the transfer of these loans do not meet the definition of participating interest because of the servicing requirement that requires the issuer to absorb some level of risk, these transfers are accounted for as financing. + References No definition available. + Details
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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=120520924&loc=SL6031897-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 + Details
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- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 + Details
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- Definition Fair value of firm holdings in corporate fixed income securities. Includes pledged and unpledged holdings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35711157&loc=d3e42546-110969 + Details
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- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16(a)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 + Details
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