FAIR VALUE DISCLOSURES (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Summary of Carrying Value and Fair Value of Financial Instruments

The carrying value and fair value of our financial instruments are as follows:

		June 30, 2024				December 31, 2023
(Dollars in thousands)	Level in Fair Value Hierarchy	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Description:
Mortgage loans held for sale	2	$	313,026	$	313,026	$	193,344	$	193,344
IRLCs	3	(3,620)		(3,620)		1,489		1,489
MBSs	2	2,616		2,616		(5,055)		(5,055)
Mortgage warehouse borrowings	2	276,205		276,205		153,464		153,464
Loans payable and other borrowings	2	404,242		404,242		394,943		394,943
5.875% Senior Notes due 2027 (1)	2	497,719		497,770		497,328		502,500
6.625% Senior Notes due 2027 (1)	2	27,947		26,673		28,092		26,529
5.75% Senior Notes due 2028 (1)	2	447,764		445,500		447,449		451,571
5.125% Senior Notes due 2030 (1)	2	496,144		478,750		495,826		483,690

(1) Carrying value for senior notes, as presented, includes unamortized debt issuance costs and premiums. Debt issuance costs are not factored into the fair value calculation for the senior notes.

Summary of Fair Value of Assets Measured on a Nonrecurring Basis

The following table presents the fair value for our inventories measured at fair value on a nonrecurring basis:

(Dollars in thousands)	Level in Fair Value Hierarchy	As of June 30, 2024		As of September 30, 2023(1)
Description:
Real estate inventory	3	$	7,024	$	19,263

(1) As of December 31, 2023 there was no additional impairment; therefore, the fair value information presented is as of September 30, 2023.