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v3.25.1

Fair Value - Schedule of Reconciliation of Changes in Fair Value of Level 3 Assets and Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2025 | Mar. 31, 2024
Purchases, issuances, sales and settlements |  |
Advances (incl. capitalization upon Ginnie Mae modifications) | $ 4,800 | $ 2,100
Total realized and unrealized gains and (losses): |  |
Gains (losses) on derivatives | 8,600 | (49,300)
Forward loans IRLCs |  |
Total realized and unrealized gains and (losses): |  |
Gains (losses) on derivatives | 9,900 | (600)
Level 3 | Loans Held for Sale - Fair Value |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 472,900 | 203,100
Purchases, issuances, sales and settlements |  |
Purchases and other | 134,900 | 145,100
Sales | (60,400) | (38,000)
Settlements | (30,500) | (22,100)
Loans held for investment, at fair value | 3,100 | 1,000
Receivables, net | (20,500) | (10,600)
Advances (incl. capitalization upon Ginnie Mae modifications) | (4,800) | (2,100)
Purchases, issuances, sales and settlements, total | 19,000 | 74,500
Total realized and unrealized gains and (losses): |  |
Change in fair value included in earnings | 4,700 | 6,400
Ending balance | 496,600 | 284,000
REO (Other assets) | (12,300) | (3,000)
Level 3 | IRLCs |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | (500) | 5,600
Purchases, issuances, sales and settlements |  |
Issuances | 32,700 | 17,200
Loans held for sale, at fair value | (47,300) | (5,800)
Purchases, issuances, sales and settlements, total | (14,600) | 11,400
Total realized and unrealized gains and (losses): |  |
Change in fair value included in earnings | 24,600 | (12,000)
Ending balance | $ 9,400 | $ 5,000

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