XML 31 R11.htm IDEA: XBRL DOCUMENT v3.22.2.2
LOANS HELD FOR SALE, AT FAIR VALUE
 9 Months Ended
Sep. 30, 2022
Receivables [Abstract]  
LOANS HELD FOR SALE, AT FAIR VALUE LOANS HELD FOR SALE, AT FAIR VALUE
The following table represents the unpaid principal balance of LHFS by product type of loan as of September 30, 2022 and December 31, 2021:
September 30,
2022		December 31,
2021
Amount%Amount%
Conforming - fixed$1,696,438 60 %$4,881,222 61 %
Conforming - ARM33,501 1 351,408 4 
Government - fixed 895,256 32 1,156,890 15 
Government - ARM2,509 — 10,906 — 
Other - residential mortgage loans187,200 7 1,576,858 20 
Consumer loans1,797 — 1,942 — 
2,816,701 100 %7,979,226 100 %
Fair value adjustment(123,881)157,591 
  Total$2,692,820 $8,136,817 
A summary of the changes in the balance of loans held for sale is as follows:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Balance at beginning of period$4,656,338 $9,120,653 $8,136,817 $6,955,424 
Origination and purchase of loans9,700,119 31,902,260 46,842,973 107,717,154 
Sales(11,728,053)(32,200,708)(52,409,647)(106,414,376)
Repurchases164,435 138,666 498,101 802,366 
Principal payments(18,822)(53,316)(119,708)(119,822)
Fair value loss
(81,197)(33,819)(255,716)(67,010)
Balance at end of period$2,692,820 $8,873,736 $2,692,820 $8,873,736 

Gain on origination and sale of loans, net is comprised of the following components:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
(Discount) premium from loan sales
$(83,312)$674,782 $(756,602)$1,552,668 
Servicing rights additions124,244 345,882 574,459 1,302,884 
Unrealized gains (losses) from derivative assets and liabilities
113,913 42,984 82,110 (139,483)
Realized gains (losses) from derivative assets and liabilities
37,950 (156,514)940,824 194,035 
Discount points, rebates and lender paid costs57,634 (49,585)189,468 (193,043)
Fair value loss
(81,197)(33,818)(255,716)(67,010)
Provision for loan loss obligation for loans sold(12,932)(2,456)(108,550)(2,723)
Total gain on origination and sale of loans, net$156,300 $821,275 $665,993 $2,647,328 

The Company had $19.6 million and $28.8 million of loans held for sale on non-accrual status as of September 30, 2022 and December 31, 2021, respectively.