DEBT (Tables)

12 Months Ended

Dec. 31, 2021

Debt

Schedule of Maturities of Warehouse Notes Payable and Note Payable

Year Ending December 31,	Maturities
2022	$	1,836,813
2023		110,290
2024		53,520
2025		26,000
2026		24,000
Thereafter		637,000
Total	$	2,687,623

Warehouse Facilities

Debt

Schedule of warehouse lines of credit

December 31, 2021

	December 31, 2020
(dollars in thousands)	Committed		Uncommitted		Total Facility		Outstanding
Facility(1)	Amount		Amount		Capacity		Balance		Interest rate(2)
Agency Warehouse Facility #1	$	425,000	$	—	$	425,000	$	83,336	30-day LIBOR plus 1.40%
Agency Warehouse Facility #2		700,000		300,000		1,000,000		460,388	30-day LIBOR plus 1.40%
Agency Warehouse Facility #3		600,000		265,000		865,000		410,546	30-day LIBOR plus 1.15%
Agency Warehouse Facility #4		350,000		—		350,000		181,996	30-day LIBOR plus 1.40%
Agency Warehouse Facility #5		—		1,000,000		1,000,000		522,507	30-day LIBOR plus 1.45%
Total National Bank Agency Warehouse Facilities	$	2,075,000	$	1,565,000	$	3,640,000	$	1,658,773
Fannie Mae repurchase agreement, uncommitted line and open maturity		—		1,500,000		1,500,000		725,085
Total agency warehouse facilities	$	2,075,000	$	3,065,000	$	5,140,000	$	2,383,858
Interim Warehouse Facility #1	$	135,000	$	—	$	135,000	$	71,572	30-day LIBOR plus 1.90%
Interim Warehouse Facility #2		100,000		—		100,000		34,000	30-day LIBOR plus 1.65%
Interim Warehouse Facility #3		75,000		75,000		150,000		8,861	30-day LIBOR plus 1.75% to 3.25%
Interim Warehouse Facility #4		19,810		—		19,810		19,810	30-day LIBOR plus 3.00%
Total interim warehouse facilities	$	329,810	$	75,000	$	404,810	$	134,243
Debt issuance costs		—		—		—		(945)
Total warehouse facilities	$	2,404,810	$	3,140,000	$	5,544,810	$	2,517,156

(1) Agency Warehouse Facilities, including the Fannie Mae repurchase agreement are used to fund loans held for sale, while Interim Warehouse Facilities are used to fund loans held for investment.

(2) Interest rate presented does not include the effect of interest rate floors.

Notes Payable

Debt

Schedule of notes payable

(in thousands, unless otherwise specified)	December 31,
	2021		2020		Interest rate and repayments
Term Loan Note Payable
Unpaid principal balance	$	600,000	$	294,773	Interest rate varies - see above for further details;
Unamortized debt discount		(1,491)		(1,026)	Quarterly principal payments of $1.5 million and $0.8 million, respectively
Unamortized debt issuance costs		(8,914)		(2,154)
Carrying balance	$	589,595	$	291,593
Alliant Note Payable
Unpaid principal balance	$	145,175	$	—	4.75% Fixed-rate
Fair value adjustment(1)		5,404		—
Carrying balance	$	150,579	$	—
Total Notes Payable Carrying Balance	$	740,174	$	291,593

(1) Fair value adjustment related to the purchase accounting for Alliant (as defined in NOTE 7).