BALANCE SHEET NETTING (Tables)

9 Months Ended

Sep. 30, 2022

Offsetting [Abstract]

Offsetting Assets

The table below represents financial assets and liabilities that are subject to master netting arrangements or similar agreements categorized by financial instrument, together with corresponding financial instruments and corresponding collateral received or pledged. In circumstances where right of set off criteria is met, the related asset and liability are presented in a net position on the consolidated balance sheets. Warehouse and other lines of credit and secured debt obligations were secured by financial instruments with fair value that exceeded the liability amount recorded on the consolidated balance sheets as of September 30, 2022 and December 31, 2021, respectively.

	September 30, 2022
	Gross amounts recognized		Gross amounts offset in consolidated balance sheet		Net amounts presented in consolidated balance sheet		Gross amounts not offset in consolidated balance sheet				Net amount
							Financial instruments		Cash collateral
Assets:
Forward sale contracts	$	495,444	$	199,707	$	295,737	$	—	$	(193,934)	$	101,803
Total Assets	$	495,444	$	199,707	$	295,737	$	—	$	(193,934)	$	101,803
Liabilities:
Forward sale contracts	$	237,793	$	199,707	$	38,086	$	—	$	(1,054)	$	37,032
Put options on treasuries	6,643		—		6,643		—		(6,643)		—
Interest rate swap futures	19,480		—		19,480		—		(19,480)		—
Warehouse and other lines of credit	2,529,436		—		2,529,436		(2,529,436)		—		—
Secured debt obligations (1)	1,294,433		—		1,294,433		(1,294,433)		—		—
Total Liabilities	$	4,087,785	$	199,707	$	3,888,078	$	(3,823,869)	$	(27,177)	$	37,032

(1)Secured debt obligations as of September 30, 2022 included secured credit facilities and Term Notes.

	December 31, 2021
	Gross amounts recognized		Gross amounts offset in consolidated balance sheets		Net amounts presented in consolidated balance sheets		Gross amounts not offset in consolidated balance sheets				Net amount
							Financial instruments		Cash collateral
Assets:
Forward sale contracts	$	29,497	$	(24,139)	$	5,358	$	—	$	(1,447)	$	3,911
Interest rate swap futures	4,924		—		4,924		—		—		4,924
Total Assets	$	34,421	$	(24,139)	$	10,282	$	—	$	(1,447)	$	8,835
Liabilities:
Forward sale contracts	$	27,103	$	(24,139)	$	2,964	$	—	$	(1,736)	$	1,228
Put options on treasuries	31,070		—		31,070		—		—		31,070
Warehouse and other lines of credit	7,457,199		—		7,457,199		(7,457,199)		—		—
Secured debt obligations (1)	545,596		—		545,596		(545,596)		—		—
Total Liabilities	$	8,060,968	$	(24,139)	$	8,036,829	$	(8,002,795)	$	(1,736)	$	32,298

(1)Secured debt obligations as of December 31, 2021 included secured credit facilities and Term Notes.

Offsetting Liabilities

The table below represents financial assets and liabilities that are subject to master netting arrangements or similar agreements categorized by financial instrument, together with corresponding financial instruments and corresponding collateral received or pledged. In circumstances where right of set off criteria is met, the related asset and liability are presented in a net position on the consolidated balance sheets. Warehouse and other lines of credit and secured debt obligations were secured by financial instruments with fair value that exceeded the liability amount recorded on the consolidated balance sheets as of September 30, 2022 and December 31, 2021, respectively.

	September 30, 2022
	Gross amounts recognized		Gross amounts offset in consolidated balance sheet		Net amounts presented in consolidated balance sheet		Gross amounts not offset in consolidated balance sheet				Net amount
							Financial instruments		Cash collateral
Assets:
Forward sale contracts	$	495,444	$	199,707	$	295,737	$	—	$	(193,934)	$	101,803
Total Assets	$	495,444	$	199,707	$	295,737	$	—	$	(193,934)	$	101,803
Liabilities:
Forward sale contracts	$	237,793	$	199,707	$	38,086	$	—	$	(1,054)	$	37,032
Put options on treasuries	6,643		—		6,643		—		(6,643)		—
Interest rate swap futures	19,480		—		19,480		—		(19,480)		—
Warehouse and other lines of credit	2,529,436		—		2,529,436		(2,529,436)		—		—
Secured debt obligations (1)	1,294,433		—		1,294,433		(1,294,433)		—		—
Total Liabilities	$	4,087,785	$	199,707	$	3,888,078	$	(3,823,869)	$	(27,177)	$	37,032

(1)Secured debt obligations as of September 30, 2022 included secured credit facilities and Term Notes.

	December 31, 2021
	Gross amounts recognized		Gross amounts offset in consolidated balance sheets		Net amounts presented in consolidated balance sheets		Gross amounts not offset in consolidated balance sheets				Net amount
							Financial instruments		Cash collateral
Assets:
Forward sale contracts	$	29,497	$	(24,139)	$	5,358	$	—	$	(1,447)	$	3,911
Interest rate swap futures	4,924		—		4,924		—		—		4,924
Total Assets	$	34,421	$	(24,139)	$	10,282	$	—	$	(1,447)	$	8,835
Liabilities:
Forward sale contracts	$	27,103	$	(24,139)	$	2,964	$	—	$	(1,736)	$	1,228
Put options on treasuries	31,070		—		31,070		—		—		31,070
Warehouse and other lines of credit	7,457,199		—		7,457,199		(7,457,199)		—		—
Secured debt obligations (1)	545,596		—		545,596		(545,596)		—		—
Total Liabilities	$	8,060,968	$	(24,139)	$	8,036,829	$	(8,002,795)	$	(1,736)	$	32,298

(1)Secured debt obligations as of December 31, 2021 included secured credit facilities and Term Notes.