WAREHOUSE AND OTHER LINES OF CREDIT (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Schedule of Debt

The following table presents information on warehouse borrowings and the outstanding balance as of June 30, 2022 and December 31, 2021:

								Outstanding Balance
	Committed Amount		Uncommitted Amount		Total Facility Amount		Expiration Date	June 30, 2022		December 31, 2021
Facility 1(1)	$	400,000	$	1,100,000	$	1,500,000	10/29/2022	$	643,618	$	851,088
Facility 2(2)	—		600,000		600,000		9/26/2022	160,471		295,743
Facility 3	—		500,000		500,000		4/18/2023	146,580		459,018
Facility 4	—		900,000		900,000		11/14/2022	325,842		266,230
Facility 5(2)	—		200,000		200,000		N/A	852		391
Facility 6(2)	100,000		1,000,000		1,100,000		10/10/2022	149,623		583,449
Facility 7(3)	750,000		750,000		1,500,000		5/5/2023	609,506		1,410,367
Facility 8	—		750,000		750,000		N/A	148,592		361,783
Facility 9(4)(5)	—		—		—		10/25/2022	—		600,000
Facility 10(4)	300,000		—		300,000		12/17/2023	300,000		500,000
Facility 11(2)(6)	—		500,000		500,000		9/23/2022	76,629		263,516
Facility 12(4)	500,000		—		500,000		2/2/2024	500,000		500,000
Facility 13(4)	500,000		—		500,000		4/23/2024	500,000		500,000
Facility 14	—		500,000		500,000		9/22/2022	203,630		365,614
Facility 15(4)	500,000		—		500,000		10/21/2024	500,000		500,000
Total	$	3,050,000	$	6,800,000	$	9,850,000		$	4,265,343	$	7,457,199

(1)The total facility is available both to fund loan originations and also provide liquidity under a gestation facility to finance recently sold MBS up to the MBS settlement date.

(2)In addition to the warehouse line, the lender provides a separate gestation facility to finance recently sold MBS up to the MBS settlement date.

(3)In addition to the outstanding balance secured by mortgage loans, the Company has $114.7 million outstanding to finance servicing rights included within debt obligations in the consolidated balance sheets.

(4)Securitization backed by a revolving warehouse facility to finance newly originated first-lien fixed and adjustable rate mortgage loans.

(5)This facility was prepaid and terminated in March 2022.

(6)This facility was prepaid and terminated in July 2022.

The following table presents certain information on warehouse borrowings:

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Maximum outstanding balance during the period	$	6,407,547		$	9,180,276		$	7,672,559		$	9,180,276
Average balance outstanding during the period	4,928,772			8,164,737			5,605,996			7,838,140
Collateral pledged (loans held for sale)	4,408,362			8,919,427			4,408,362			8,919,427
Weighted average interest rate during the period	2.60		%	2.21		%	2.27		%	2.27		%