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Mortgage Loans at Fair Value (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Summary of Reconciliation of Changes in Mortgage Loans at Fair Value
The table below includes the estimated fair value and unpaid principal balance (“UPB”) of mortgage loans that have contractual principal amounts and for which the Company has elected the fair value option. The fair value option has been elected for mortgage loans, as this accounting treatment best reflects the economic consequences of the Company’s mortgage origination and related hedging and risk management activities. The difference between the UPB and estimated fair value is made up of the premiums paid on mortgage loans, as well as the fair value adjustment as of the balance sheet date. The change in fair value adjustment is recorded in the “Loan production income” line item of the condensed consolidated statements of operations.
 
(In thousands)   
September
 30,
2021
     
December 31,
2020
  
Mortgage loans, unpaid principal balance
   
$
11,568,222
      $ 7,620,014  
Premiums paid on mortgage loans
   
 
153,628
        101,949  
Fair value adjustment
   
 
14,792
        194,552  
    
 
 
     
 
 
  
Mortgage loans at fair value
   
$
11,736,642
      $ 7,916,515  
    
 
 
     
 
 
  
 
United Wholesale Mortgage L L C [Member]    
Summary of Reconciliation of Changes in Mortgage Loans at Fair Value  
The table below includes the estimated fair value and unpaid principal balance (“UPB”) of mortgage loans that have contractual principal amounts and for which the Company has elected the fair value option. The fair value option has been elected for mortgage loans, as this accounting treatment best reflects the economic consequences of the Company’s mortgage origination and related hedging and risk management activities. The difference between the UPB and estimated fair value is made up of the premiums paid on mortgage loans, as well as the fair value adjustment as of the balance sheet date. The change in fair value adjustment is recorded in the “Loan production income” line item of the consolidated statement of operations.
 
                 
(In thousands)
   December 31, 2020      December 31, 2019  
Mortgage loans, unpaid principal balance
    $
7,620,014
      $
5,309,394
  
Premiums paid on mortgage loans
     
101,949
       
88,913
  
Fair value adjustment
     
194,552
       
48,003
  
    
 
 
     
 
 
  
Mortgage loans at fair value
    $
7,916,515
      $
5,446,310