SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of Components of Provision (Benefit) for Credit Losses

	For the three months ended				For the six months ended
	June 30,				June 30,
Components of Provision (Benefit) for Credit Losses (in thousands)	2022		2021		2022		2021
Provision (benefit) for loan losses	$	(71)	$	(75)	$	(177)	$	(662)
Provision (benefit) for risk-sharing obligations		(4,769)		(4,251)		(14,161)		(14,984)
Provision (benefit) for credit losses	$	(4,840)	$	(4,326)	$	(14,338)	$	(15,646)

Schedule of Net Warehouse Interest Income

	For the three months ended				For the six months ended
	June 30,				June 30,
Components of Net Warehouse Interest Income (in thousands)	2022		2021		2022		2021
Warehouse interest income - loans held for sale	$	12,175	$	7,863	$	21,038	$	16,981
Warehouse interest expense - loans held for sale		(8,468)		(4,979)		(13,801)		(11,638)
Net warehouse interest income - loans held for sale	$	3,707	$	2,884	$	7,237	$	5,343
Warehouse interest income - loans held for investment	$	3,015	$	2,962	$	5,365	$	6,190
Warehouse interest expense - loans held for investment		(1,454)		(1,216)		(2,561)		(2,348)
Warehouse interest income - secured borrowings		—		883		—		1,748
Warehouse interest expense - secured borrowings		—		(883)		—		(1,748)
Net warehouse interest income - loans held for investment	$	1,561	$	1,746	$	2,804	$	3,842
Total net warehouse interest income	$	5,268	$	4,630	$	10,041	$	9,185

Schedule of Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents

	June 30,				December 31,
(in thousands)	2022		2021		2021		2020
Cash and cash equivalents	$	151,252	$	326,518	$	305,635	$	321,097
Restricted cash		34,361		15,842		42,812		19,432
Pledged cash and cash equivalents (NOTE 9)		10,149		47,396		44,733		17,473
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	$	195,762	$	389,756	$	393,180	$	358,002

Schedule of Contracts with Customers

	For the three months ended				For the six months ended
	June 30,				June 30,
Description (in thousands)	2022		2021		2022		2021		Statement of income line item
Certain loan origination fees	$	53,281	$	43,222	$	90,646	$	67,123	Loan origination and debt brokerage fees, net
Property sales broker fees		46,386		22,454		69,784		31,496	Property sales broker fees
Investment management fees		10,282		3,815		22,930		6,551	Investment management fees
Application fees, subscription revenues, other revenues from LIHTC operations, and other revenues		35,198		4,113		50,855		7,627	Other revenues
Total revenues derived from contracts with customers	$	145,147	$	73,604	$	234,215	$	112,797