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Fair Value Measurements Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2025
Fair Value Measurements [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]
The table below shows the notional amounts of our financial instruments at September 30, 2025 and December 31, 2024:
Description of Financial Instrument (in thousands)September 30, 2025December 31, 2024
Whole loan contracts and related committed IRLCs$3,401 $— 
Uncommitted IRLCs320,905 215,696 
FMBSs related to uncommitted IRLCs344,000 228,000 
Whole loan contracts and related mortgage loans held for sale10,310 17,667 
FMBSs related to mortgage loans held for sale247,000 252,000 
Mortgage loans held for sale covered by FMBSs231,158 276,140 
Schedule of Derivative Instruments, (Loss) Gain in Statement of Financial Performance [Table Text Block]
The following table sets forth the amount of (loss) gain recognized, within our revenue in the Unaudited Condensed Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the three and nine months ended September 30, 2025 and 2024:
Three Months Ended September 30,Nine Months Ended September 30,
Description (in thousands)2025202420252024
Mortgage loans held for sale$443 $3,569 $5,896 $98 
Forward sales of mortgage-backed securities2,052 (2,896)(7,092)5,992 
Interest rate lock commitments168 1,709 4,789 (470)
Whole loan contracts(488)493 156 444 
Total gain (loss) recognized
$2,175 $2,875 $3,749 $6,064 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The following tables set forth the fair value of the Company’s derivative instruments and their location within the Unaudited Condensed Consolidated Balance Sheets for the periods indicated (except for mortgage loans held for sale which are disclosed as a separate line item):
Asset DerivativesLiability Derivatives
September 30, 2025September 30, 2025
Description of DerivativesBalance Sheet
Location
Fair Value
(in thousands)
Balance Sheet LocationFair Value
(in thousands)
Forward sales of mortgage-backed securitiesOther assets$ Other liabilities$4,146 
Interest rate lock commitmentsOther assets5,383 Other liabilities 
Whole loan contractsOther assets Other liabilities770 
Total fair value measurements$5,383 $4,916 

Asset DerivativesLiability Derivatives
December 31, 2024December 31, 2024
Description of DerivativesBalance Sheet
Location
Fair Value
(in thousands)
Balance Sheet LocationFair Value
(in thousands)
Forward sales of mortgage-backed securitiesOther assets$2,946 Other liabilities$— 
Interest rate lock commitmentsOther assets532 Other liabilities— 
Whole loan contractsOther assets— Other liabilities864 
Total fair value measurements$3,478 $864 
Fair Value, by Balance Sheet Grouping [Table Text Block]
The following table presents the carrying amounts and fair values of the Company’s financial instruments at September 30, 2025 and December 31, 2024. The objective of the fair value measurement is to estimate the price at which an orderly transaction to sell the asset or transfer the liability would take place between market participants at the measurement date under current market conditions.
September 30, 2025December 31, 2024
(In thousands)Fair Value HierarchyCarrying AmountFair ValueCarrying AmountFair Value
Assets:
Cash, cash equivalents and restricted cashLevel 1$734,174 $734,174 $821,570 $821,570 
Mortgage loans held for saleLevel 2239,585 239,585 283,540 283,540 
Interest rate lock commitmentsLevel 25,383 5,383 532 532 
Forward sales of mortgage-backed securitiesLevel 2  2,946 2,946 
Liabilities:
Notes payable - homebuilding operationsLevel 2  — — 
Notes payable - financial services operationsLevel 2231,979 231,979 286,159 286,159 
Senior notes due 2028 (a)
Level 2400,000 397,500 400,000 383,500 
Senior notes due 2030 (a)
Level 2300,000 286,125 300,000 267,375 
Whole loan contracts for committed IRLCs and mortgage loans held for saleLevel 2770 770 864 864 
Forward sales of mortgage-backed securitiesLevel 24,146 4,146 — — 
(a)Our senior notes are stated at the principal amount outstanding which does not include the impact of premiums, discounts, and debt issuance costs that are amortized to interest cost over the respective terms of the notes.