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Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of Assets, Liabilities, and Equity Measured at Fair Value on a Recurring Basis
A summary of assets and liabilities related to our financial instruments, measured at fair value on a recurring basis and as reflected in our consolidated balance sheets, is set forth below:
Balance at December 31, 2020Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant
Other Observable Inputs
(Level 2)		Significant
Unobservable Inputs
(Level 3)
Assets
Cash equivalents
Money market funds$886,261 $886,261 $— $— 
U.S. treasury securities6,100 6,100 — — 
Total cash equivalents892,361 892,361 — — 
Short-term investments
U.S. treasury securities131,561 131,561 — — 
Loans held for sale42,539 — 42,539 — 
Prepaid expenses and other current assets
Forward sales commitments34 — 34 — 
IRLCs1,781 — — 1,781 
Total prepaid expenses and other current assets1,815 — 34 1,781 
Long-term investments
Agency bonds11,922 11,922 — — 
Total assets$1,080,198 $1,035,844 $42,573 $1,781 
Liabilities
Accrued liabilities
Forward sales commitments$507 $— $507 $— 
IRLCs10 — — 10 
Total liabilities$517 $— $507 $10 
Balance at December 31, 2019Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant
Other Observable Inputs
(Level 2)		Significant
Unobservable Inputs
(Level 3)
Assets
Cash equivalents
        Money market funds$221,442 $221,442 $— $— 
Short-term investments
   U.S. treasury securities70,029 70,029 — — 
Loans held for sale21,985 — 21,985 — 
Prepaid expenses and other current assets
Forward sales commitments4 — 4 — 
IRLCs496 — — 496 
Total prepaid expenses and other current assets500 — 4 496 
Long-term investments
   U.S. treasury securities30,978 30,978 — — 
Total assets$344,934 $322,449 $21,989 $496 
Liabilities
Accrued liabilities
Forward sales commitments$57 $— $57 $— 
IRLCs58 — — 58 
Total liabilities$115 $— $57 $58 
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure
The cost or amortized cost, gross unrealized gains and losses, and estimated fair market value of our cash, money market funds, restricted cash, and available-for-sale investments were as follows:
December 31, 2020
Cost or Amortized CostUnrealized GainsUnrealized LossesEstimated Fair ValueCash, Cash Equivalents, Restricted CashShort-term InvestmentsLong-term Investments
Cash$32,915 $— $— $32,915 $32,915 $— $— 
Money markets funds886,261 — — 886,261 886,261 — — 
Restricted cash20,544 — — 20,544 20,544 — — 
U.S. treasury securities137,502 159 — 137,661 6,100 131,561 — 
Agency bonds11,900 22 — 11,922 — — 11,922 
Total$1,089,122 $181 $— $1,089,303 $945,820 $131,561 $11,922 

December 31, 2019
Cost or Amortized CostUnrealized GainsUnrealized LossesEstimated Fair ValueCash, Cash Equivalents, Restricted CashShort-term InvestmentsLong-term Investments
Cash$13,237 $— $— $13,237 $13,237 $— $— 
Money markets funds221,442 — — 221,442 221,442 — — 
Restricted cash12,769 — — 12,769 12,769 — — 
U.S. treasury securities100,998 31 (22)101,007 — 70,029 30,978 
Total$348,446 $31 $(22)$348,455 $247,448 $70,029 $30,978 
Debt Securities, Available-for-sale
The cost or amortized cost, gross unrealized gains and losses, and estimated fair market value of our cash, money market funds, restricted cash, and available-for-sale investments were as follows:
December 31, 2020
Cost or Amortized CostUnrealized GainsUnrealized LossesEstimated Fair ValueCash, Cash Equivalents, Restricted CashShort-term InvestmentsLong-term Investments
Cash$32,915 $— $— $32,915 $32,915 $— $— 
Money markets funds886,261 — — 886,261 886,261 — — 
Restricted cash20,544 — — 20,544 20,544 — — 
U.S. treasury securities137,502 159 — 137,661 6,100 131,561 — 
Agency bonds11,900 22 — 11,922 — — 11,922 
Total$1,089,122 $181 $— $1,089,303 $945,820 $131,561 $11,922 

December 31, 2019
Cost or Amortized CostUnrealized GainsUnrealized LossesEstimated Fair ValueCash, Cash Equivalents, Restricted CashShort-term InvestmentsLong-term Investments
Cash$13,237 $— $— $13,237 $13,237 $— $— 
Money markets funds221,442 — — 221,442 221,442 — — 
Restricted cash12,769 — — 12,769 12,769 — — 
U.S. treasury securities100,998 31 (22)101,007 — 70,029 30,978 
Total$348,446 $31 $(22)$348,455 $247,448 $70,029 $30,978 
Schedule of Notional Amounts of Outstanding Derivative Positions
December 31,
Notional Amounts20202019
Forward sales commitments$130,109 $39,447 
IRLCs88,923 37,453 
Fair Value Measurement Inputs and Valuation Techniques
The following is a quantitative summary of key unobservable inputs used in the valuation of IRLCs:
Key InputsValuation TechniqueDecember 31, 2020December 31, 2019
Weighted-average pull-through rate
Market pricing
72.3%78.2%
Derivative Instruments, Gain (Loss)
The locations and amounts of gains (losses) recognized in income related to our derivatives are as follows:
Year Ended December 31,
InstrumentClassification202020192018
Forward sales commitmentsService revenue$(184)$96 $(141)
IRLCsService revenue1,342 176 254 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following is a summary of changes in the fair value of IRLCs for the period ended December 31, 2020:
Balance, net—January 1, 2020$438 
Issuances of IRLCs18,090 
Settlements of IRLCs(16,986)
Net gain recognized in earnings229 
Balance, net—December 31, 2020$1,771 
Schedule of Long-term Debt Instruments
The following table presents the carrying amounts and estimated fair values of our 2023 notes and our 2025 notes that are not recorded at fair value on our consolidated balance sheets:

December 31, 2020December 31, 2019
IssuanceNet Carrying Amount Estimated Fair ValueNet Carrying AmountEstimated Fair Value
2023 notes$22,482$59,894$119,716$142,672
2025 notes$488,268$802,083$—$—
The following table summarizes borrowings under these facilities as of the periods presented:
December 31, 2020December 31, 2019
LenderBorrowing CapacityOutstanding BorrowingsWeighted Average Interest Rate on Outstanding BorrowingsBorrowing CapacityOutstanding BorrowingsWeighted Average Interest Rate on Outstanding Borrowings
Western Alliance Bank$50,000 $18,277 3.25 %$24,500 $8,489 3.79 %
Texas Capital Bank, N.A.40,000 12,903 3.35 %24,500 10,210 3.51 %
Flagstar Bank, FSB
15,000 7,849 3.00 %$15,000 $2,603 3.69 %
Total$105,000 $39,029 — %$64,000 $21,302 — %
The following table summarizes borrowings under this facility as of the period presented:
December 31, 2020December 31, 2019
LenderBorrowing CapacityOutstanding BorrowingsWeighted Average Interest Rate on Outstanding BorrowingsBorrowing CapacityOutstanding BorrowingsWeighted Average Interest Rate on Outstanding Borrowings
Goldman Sachs Bank USA$100,000 $23,949 4.40 %$100,000 $4,444 4.45 %