Regulatory Capital and Liquidity Requirements (Tables)

9 Months Ended

Sep. 30, 2023

Regulatory Capital and Liquidity Requirements

Summary of agencies' capital and liquidity requirements by each agency

	September 30, 2023 (1)						December 31, 2022
Requirement/Agency	Actual (2)			Requirement (2)			Actual (2)			Requirement (2)
	(dollars in thousands)
Capital
Fannie Mae & Freddie Mac	$	6,227,418		$	1,157,832		$	6,632,627		$	797,748
Ginnie Mae	$	5,968,665		$	1,251,726		$	5,899,892		$	923,202
HUD	$	5,968,665		$	2,500		$	5,899,892		$	2,500
Liquidity
Fannie Mae & Freddie Mac	$	1,383,986		$	472,121		$	1,265,569		$	107,768
Ginnie Mae	$	1,583,911		$	323,892		$	1,265,569		$	246,953
Adjusted net worth / Total assets ratio
Ginnie Mae		40	%		6	%		35	%		6	%
Tangible net worth / Total assets ratio
Fannie Mae & Freddie Mac		32	%		6	%		39	%		6	%

(1) The Agencies adopted revised capital and liquidity requirements, most of which became effective on September 30, 2023. The amounts shown for September 30, 2023 are in accordance with those Agency requirements. The Agencies have issued origination liquidity requirements and Ginnie Mae has issued risk-based capital requirements in addition to those presented above. The origination liquidity and risk-based capital requirements will be effective on December 31, 2023 and December 31, 2024, respectively. The Company believes it is in compliance with the Agencies’ pending requirements as of September 30, 2023.

(2) Calculated in accordance with the respective Agency’s requirements.