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Derivative Financial Instruments and Hedging Activities (Tables) | 9 Months Ended
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Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Activity | The table below summarizes the fair value, notional and maturity of 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 nine months ended September 30, 2021 and 2020.
|  | September 30, 2021 |  | December 31, 2020
|  | Maturities | Notional | Fair value |  | Maturities | Notional | Fair value
Derivative Assets (Other assets) |  |  |  |  |  |  |  |
Forward sales of Reverse loans |  | Oct. 2021 | $ | 85,000 |  | $ | 762 |  |  | Jan. 2021 | $ | 30,000 |  | $ | 34 |
Forward loans IRLCs |  | Not.2021 - Dec.2021 | 1,222,451 |  | 13,407 |  |  | Apr. 2021 | 619,713 |  | 22,224 |
Reverse loans IRLCs |  | Oct. 2021 | 80,486 |  | 623 |  |  | Jan. 2021 | 11,692 |  | 482 |
TBA forward Pipeline trades |  | Oct.2021 - Dec.2021 | 1,210,000 |  | 5,538 |  |  | N/A | — |  | — |
Interest rate swap futures |  | N/A | — |  | — |  |  | Mar. 2021 | 593,500 |  | 504 |
Other |  | N/A | — |  | — |  |  | N/A | — |  | 2 |
Total |  |  | $ | 2,597,937 |  | $ | 20,329 |  |  |  | $ | 1,254,905 |  | $ | 23,246 |
Derivative Liabilities (Other liabilities) |  |  |  |  |  |  |  |
Forward sales of Reverse loans |  | Oct. 2021 | $ | 55,000 |  | $ | (341) |  |  | Jan. 2021 | $ | 20,000 |  | $ | (84) |
TBA forward Pipeline trades |  | Oct.2021 - Dec.2021 | 245,000 |  | (276) |  |  | N/A | — |  | — |
TBA forward MBS trades |  | Oct.2021 - Nov.2021 | 1,210,000 |  | (11,227) |  |  | Jan. 2021 | 400,000 |  | (4,554) |
Interest rate swap futures |  | Oct.2021 - Dec.2021 | 952,500 |  | (8,236) |  |  | N/A | — |  | — |
Other |  | N/A | — |  | (438) |  |  | N/A | — |  | — |
Total |  |  | $ | 2,462,500 |  | $ | (20,518) |  |  |  | $ | 420,000 |  | $ | (4,638) |
The table below summarizes the net gains and losses of our derivative instruments recognized in our consolidated statement of operations.
| Nine Months Ended September 30, 2021 |  | Nine Months Ended September 30, 2020
| Gain / (Loss) |  | Gain / (Loss)
| Amount | Financial Statement Line |  | Amount | Financial Statement Line
Derivative |  |  |  |  |
Forward loans IRLCs | $ | (8,817) |  | Gain on loans held for sale, net |  | $ | 16,860 |  | Gain on loans held for sale, net
Reverse loans IRLCs | 141 |  | Reverse mortgage revenue, net |  | 940 |  | Reverse mortgage revenue, net
TBA forward pipeline trades | 592 |  | Gain on loans held for sale, net (Economic hedge) |  | — |  | Gain on loans held for sale, net (Economic hedge)
Interest rate swap futures and TBA forward MBS trades | — |  | Gain on loans held for sale, net (Economic hedge) |  | (9,564) |  | Gain on loans held for sale, net (Economic hedge)
Interest rate swap futures and TBA forward MBS trades | (3,310) |  | MSR valuation adjustments, net |  | 39,258 |  | MSR valuation adjustments, net
Forward sales of Reverse loans | 471 |  | Reverse mortgage revenue, net |  | (62) |  | Reverse mortgage revenue, net
Other | (439) |  | Gain on loans held for sale, net |  | (561) |  | Gain on loans held for sale, net
Total | $ | (11,362) |  |  |  | $ | 46,871 |  |

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + 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 + Details
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