XML 70 R58.htm IDEA: XBRL DOCUMENT v3.21.2
Fair Value - Schedule of Fair Value Assets and Liabilities (Details) - USD ($)
$ in Thousands
Sep. 30, 2021
Jun. 30, 2021
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Dec. 31, 2019
Loans held for sale            
Loans held for sale, at fair value $ 921,621 $ 680,866 $ 366,364 $ 366,966 $ 253,037 $ 208,752
Investment in equity method investee 19,794   0      
Financial liabilities:            
Advance match funded liabilities 516,572   581,288      
HMBS-related borrowings 6,782,564 6,823,911 6,772,711 6,606,543 6,477,616 6,063,435
Financing liabilities:            
Other financing liabilities, at fair value 710,911   576,722      
Other secured borrowings:            
Mortgage loan warehouse facilities 1,069,170   451,713      
MSR financing facilities, net 945,744   437,672      
Senior Notes [Abstract]            
Senior notes, net 612,658   311,898      
Derivative financial instruments assets (liabilities):            
Derivative liabilities (20,518)   (4,638)      
Derivative liability, fair value 20,518   4,638      
Mortgage servicing rights            
Mortgage servicing rights, at fair value 2,176,260 $ 2,072,518 1,294,817 $ 1,069,013 $ 1,044,914 $ 1,486,395
Carrying Value            
Loans held for sale            
Total Loans held for sale 933,700   387,836      
Loans held for investment 7,108,730   7,006,897      
Senior Notes [Abstract]            
Senior notes, net 612,658   311,898      
Fair Value            
Loans held for sale            
Total Loans held for sale 933,700   387,836      
Loans held for investment 7,108,730   7,006,897      
Senior Notes [Abstract]            
Senior notes, net 662,295   320,879      
Level 2 | Carrying Value            
Loans held for sale            
Loans held for sale, at fair value 921,621   366,364      
Corporate bonds 211   211      
Other secured borrowings:            
Senior secured term loan 0   179,776      
Senior Notes [Abstract]            
Senior secured notes 392,190   311,898      
Level 2 | Fair Value            
Loans held for sale            
Loans held for sale, at fair value 921,621   366,364      
Corporate bonds 211   211      
Other secured borrowings:            
Senior secured term loan 0   184,639      
Senior Notes [Abstract]            
Senior secured notes 403,490   320,879      
Level 3 | Carrying Value            
Loans held for sale            
Loans held for sale, at lower of cost or fair value 12,079   21,472      
Loans held for investment 7,100,726   6,997,127      
Advances (including match funded) 739,596   828,239      
Receivables, net 183,090   187,665      
Mortgage-backed securities, at fair value 1,618   2,019      
Investment in equity method investee     0      
Financial liabilities:            
Advance match funded liabilities 516,572   581,288      
HMBS-related borrowings 6,782,564   6,772,711      
Other secured borrowings:            
Mortgage loan warehouse facilities 1,069,170   451,713      
MSR financing facilities, net 945,744   437,672      
Derivative financial instruments assets (liabilities):            
Interest rate lock commitments 14,030   22,706      
Mortgage servicing rights            
Mortgage servicing rights, at fair value 2,176,260   1,294,817      
Level 3 | Carrying Value | Second Lien            
Senior Notes [Abstract]            
Senior secured notes 220,468   0      
Level 3 | Fair Value            
Loans held for sale            
Loans held for sale, at lower of cost or fair value 12,079   21,472      
Loans held for investment 7,100,726   6,997,127      
Advances (including match funded) 739,596   828,239      
Receivables, net 183,090   187,665      
Mortgage-backed securities, at fair value 1,618   2,019      
Investment in equity method investee     0      
Financial liabilities:            
Advance match funded liabilities 515,405   581,997      
HMBS-related borrowings 6,782,564   6,772,711      
Other secured borrowings:            
Mortgage loan warehouse facilities 1,069,170   451,713      
MSR financing facilities, net 918,217   406,860      
Derivative financial instruments assets (liabilities):            
Interest rate lock commitments 14,030   22,706      
Mortgage servicing rights            
Mortgage servicing rights, at fair value 2,176,260   1,294,817      
Level 3 | Fair Value | Second Lien            
Senior Notes [Abstract]            
Senior secured notes 258,805   0      
Loans Held for Investment Securitization Trusts | Level 3 | Carrying Value            
Loans held for sale            
Loans held for investment 8,004   9,770      
Loans Held for Investment Securitization Trusts | Level 3 | Fair Value            
Loans held for sale            
Loans held for investment 8,004   9,770      
Forward LHFS Trades | Level 2 | Carrying Value            
Derivative financial instruments assets (liabilities):            
Derivative asset 421          
Derivative liabilities     50      
Forward LHFS Trades | Level 2 | Fair Value            
Derivative financial instruments assets (liabilities):            
Derivative asset 421          
Derivative liabilities     50      
TBA forward MBS trades            
Derivative financial instruments assets (liabilities):            
Derivative liability, fair value 11,227   4,554      
TBA forward MBS trades | Level 1 | Carrying Value            
Derivative financial instruments assets (liabilities):            
Derivative liabilities (11,227)   (4,554)      
TBA forward MBS trades | Level 1 | Fair Value            
Derivative financial instruments assets (liabilities):            
Derivative liabilities (11,227)   (4,554)      
Interest Rate Swap            
Derivative financial instruments assets (liabilities):            
Derivative liability, fair value 8,236   0      
Interest Rate Swap | Level 1 | Carrying Value            
Derivative financial instruments assets (liabilities):            
Derivative asset     504      
Derivative liabilities (8,236)          
Interest Rate Swap | Level 1 | Fair Value            
Derivative financial instruments assets (liabilities):            
Derivative asset     504      
Derivative liabilities (8,236)          
TBA Forward Pipelines Trades            
Derivative financial instruments assets (liabilities):            
Derivative asset     0      
Derivative liability, fair value 276          
TBA Forward Pipelines Trades | Level 1 | Fair Value            
Derivative financial instruments assets (liabilities):            
Derivative asset 5,262          
Other            
Derivative financial instruments assets (liabilities):            
Derivative liability, fair value 438   0      
Other | Level 3 | Carrying Value            
Derivative financial instruments assets (liabilities):            
Other (438)   0      
Other | Level 3 | Fair Value            
Derivative financial instruments assets (liabilities):            
Other     0      
Financing Liability - MSRs Pledged            
Financing liabilities:            
Other financing liabilities, at fair value 702,907   566,952      
Financing Liability - MSRs Pledged | Level 3 | Carrying Value            
Financing liabilities:            
Other financing liabilities, at fair value 702,907   566,952      
Financing Liability - MSRs Pledged | Level 3 | Fair Value            
Financing liabilities:            
Other financing liabilities, at fair value 702,907   566,952      
Financing Liability Owed to Securitization Investors | Level 3 | Carrying Value            
Financing liabilities:            
Other financing liabilities, at fair value 8,004   9,770      
Financing Liability Owed to Securitization Investors | Level 3 | Fair Value            
Financing liabilities:            
Other financing liabilities, at fair value $ 8,004   $ 9,770