XML 72 R58.htm IDEA: XBRL DOCUMENT v3.21.2
Fair Value - Schedule of Fair Value Assets and Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Loans held for sale            
Loans held for sale, at fair value $ 680,866 $ 500,814 $ 366,364 $ 253,037 $ 203,592 $ 208,752
Investment in equity method investee 11,878   0      
Financial liabilities:            
Advance match funded liabilities 530,182   581,288      
HMBS-related borrowings 6,823,911 6,778,195 6,772,711 6,477,616 6,323,091 6,063,434
Financing liabilities:            
Other financing liabilities, at fair value 544,251   576,722      
Total Financing liabilities 7,368,162   7,349,433      
Other secured borrowings:            
Mortgage loan warehouse facilities 773,352   451,713      
MSR financing facilities, net 1,012,478   437,672      
Senior Notes [Abstract]            
Senior notes, net 610,600   311,898      
Derivative financial instruments assets (liabilities):            
Derivative liabilities 4,039   4,638      
Derivative liability, fair value 4,039   4,638      
Mortgage servicing rights            
Mortgage servicing rights, at fair value 2,072,518 $ 1,400,217 1,294,817 $ 1,044,913 $ 1,050,228 $ 1,486,395
Carrying Value            
Loans held for sale            
Total Loans held for sale 696,020   387,836      
Loans held for investment 7,120,953   7,006,897      
Financing liabilities:            
Total Financing liabilities 7,368,162   7,349,433      
Senior Notes [Abstract]            
Senior notes, net 610,600   311,898      
Fair Value            
Loans held for sale            
Total Loans held for sale 696,020   387,836      
Loans held for investment 7,120,953   7,006,897      
Financing liabilities:            
Total Financing liabilities 7,368,162   7,349,433      
Senior Notes [Abstract]            
Senior notes, net 666,018   320,879      
Level 2 | Carrying Value            
Loans held for sale            
Loans held for sale, at fair value 680,866   366,364      
Corporate bonds 211   211      
Other secured borrowings:            
Senior secured term loan 0   179,776      
Senior Notes [Abstract]            
Senior secured notes 391,750   311,898      
Level 2 | Fair Value            
Loans held for sale            
Loans held for sale, at fair value 680,866   366,364      
Corporate bonds 211   211      
Other secured borrowings:            
Senior secured term loan 0   184,639      
Senior Notes [Abstract]            
Senior secured notes 406,144   320,879      
Level 3 | Carrying Value            
Loans held for sale            
Loans held for sale, at lower of cost or fair value 15,154   21,472      
Loans held for investment 7,112,273   6,997,127      
Advances (including match funded) 761,973   828,239      
Receivables, net 165,185   187,665      
Mortgage-backed securities, at fair value 1,607   2,019      
Financial liabilities:            
Advance match funded liabilities 530,182   581,288      
HMBS-related borrowings 6,823,911   6,772,711      
Other secured borrowings:            
Mortgage loan warehouse facilities 773,352   451,713      
MSR financing facilities, net 1,012,478   437,672      
Derivative financial instruments assets (liabilities):            
Interest rate lock commitments 17,437   22,706      
Mortgage servicing rights            
Mortgage servicing rights, at fair value 2,072,518   1,294,817      
Level 3 | Carrying Value | Second Lien            
Senior Notes [Abstract]            
Senior secured notes 218,850   0      
Level 3 | Fair Value            
Loans held for sale            
Loans held for sale, at lower of cost or fair value 15,154   21,472      
Loans held for investment 7,112,273   6,997,127      
Advances (including match funded) 761,973   828,239      
Receivables, net 165,185   187,665      
Mortgage-backed securities, at fair value 1,607   2,019      
Financial liabilities:            
Advance match funded liabilities 530,765   581,997      
HMBS-related borrowings 6,823,911   6,772,711      
Other secured borrowings:            
Mortgage loan warehouse facilities 773,352   451,713      
MSR financing facilities, net 982,795   406,860      
Derivative financial instruments assets (liabilities):            
Interest rate lock commitments 17,437   22,706      
Mortgage servicing rights            
Mortgage servicing rights, at fair value 2,072,518   1,294,817      
Level 3 | Fair Value | Second Lien            
Senior Notes [Abstract]            
Senior secured notes 259,874   0      
Loans Held for Investment Securitization Trusts | Level 3 | Carrying Value            
Loans held for sale            
Loans held for investment 8,680   9,770      
Loans Held for Investment Securitization Trusts | Level 3 | Fair Value            
Loans held for sale            
Loans held for investment 8,680   9,770      
Forward LHFS Trades | Level 2 | Carrying Value            
Derivative financial instruments assets (liabilities):            
Derivative asset 147          
Derivative liabilities     (50)      
Forward LHFS Trades | Level 2 | Fair Value            
Derivative financial instruments assets (liabilities):            
Derivative asset 147          
Derivative liabilities     (50)      
TBA forward MBS trades            
Derivative financial instruments assets (liabilities):            
Derivative liability, fair value 0   4,554      
TBA forward MBS trades | Level 1 | Carrying Value            
Derivative financial instruments assets (liabilities):            
Derivative asset 2,250          
Derivative liabilities     (4,554)      
TBA forward MBS trades | Level 1 | Fair Value            
Derivative financial instruments assets (liabilities):            
Derivative asset 2,250          
Derivative liabilities     (4,554)      
Interest Rate Swap            
Derivative financial instruments assets (liabilities):            
Derivative liability, fair value 2,203   0      
Interest Rate Swap | Level 1 | Carrying Value            
Derivative financial instruments assets (liabilities):            
Derivative asset 2,297   504      
Interest Rate Swap | Level 1 | Fair Value            
Derivative financial instruments assets (liabilities):            
Derivative asset 2,297   504      
TBA Forward Pipelines Trades            
Derivative financial instruments assets (liabilities):            
Derivative liability, fair value 1,740   0      
TBA Forward Pipelines Trades | Level 1 | Fair Value            
Derivative financial instruments assets (liabilities):            
Derivative liability, fair value (1,580)          
Other            
Derivative financial instruments assets (liabilities):            
Derivative liability, fair value 5   0      
Other | Level 3 | Carrying Value            
Derivative financial instruments assets (liabilities):            
Other (5)   0      
Other | Level 3 | Fair Value            
Derivative financial instruments assets (liabilities):            
Other     0      
Financing Liability - MSRs Pledged | Level 3 | Carrying Value            
Financing liabilities:            
Other financing liabilities, at fair value 535,571   566,952      
Financing Liability - MSRs Pledged | Level 3 | Fair Value            
Financing liabilities:            
Other financing liabilities, at fair value 535,571   566,952      
Financing Liability Owed to Securitization Investors | Level 3 | Carrying Value            
Financing liabilities:            
Other financing liabilities, at fair value 8,680   9,770      
Financing Liability Owed to Securitization Investors | Level 3 | Fair Value            
Financing liabilities:            
Other financing liabilities, at fair value $ 8,680   $ 9,770