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v3.25.2

Fair Value - Schedule of Reconciliation of Changes in Fair Value of Level 3 Assets and Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2025 | Jun. 30, 2024 | Jun. 30, 2025 | Jun. 30, 2024
Purchases, issuances, sales and settlements |  |  |  |
Advances (incl. capitalization upon Ginnie Mae modifications) | $ 5,400 | $ 2,800 | $ 10,200 | $ 4,900
Total realized and unrealized gains and (losses): |  |  |  |
Gains (losses) on derivatives | (3,400) | (46,700) | 5,300 | (96,000)
Level 3 | Loans Held for Sale - Fair Value |  |  |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Beginning balance | 496,600 | 284,000 | 472,900 | 203,100
Purchases, issuances, sales and settlements |  |  |  |
Purchases and other | 158,900 | 80,500 | 293,800 | 225,500
Sales | (74,800) | (38,700) | (135,200) | (76,700)
Settlements | (35,200) | (25,100) | (65,800) | (47,300)
Loans held for investment, at fair value | 2,600 | 800 | 5,700 | 1,900
Receivables, net | (200) | (7,600) | (20,700) | (18,200)
Advances (incl. capitalization upon Ginnie Mae modifications) | (5,300) | (2,800) | (10,100) | 4,900
Purchases, issuances, sales and settlements, total | 43,500 | 8,300 | 62,500 | 82,800
Total realized and unrealized gains and (losses): |  |  |  |
Change in fair value included in earnings | 4,100 | 4,400 | 8,800 | 10,900
Ending balance | 544,200 | 296,700 | 544,200 | 296,700
REO (Other assets) | (13,000) | (4,300) | (25,400) | (7,300)
Level 3 | IRLCs |  |  |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Beginning balance | 9,400 | 5,000 | (500) | 5,600
Purchases, issuances, sales and settlements |  |  |  |
Issuances | 45,300 | 4,000 | 78,000 | 21,200
Loans held for sale, at fair value | (49,400) | 8,600 | (96,700) | 2,800
Purchases, issuances, sales and settlements, total | (4,100) | 12,600 | (18,700) | 24,000
Total realized and unrealized gains and (losses): |  |  |  |
Change in fair value included in earnings | 12,800 | (13,500) | 37,300 | (25,500)
Ending balance | $ 18,100 | $ 4,100 | $ 18,100 | $ 4,100

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