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Fair Value (Tables)
6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Undesignated Derivative Instruments
The fair value measurement of NVRM's undesignated derivative instruments was as follows:
June 30, 2020December 31, 2019
Rate lock commitments:
Gross assets$9,241  $8,132  
Gross liabilities347  497  
Net rate lock commitments$8,894  $7,635  
Forward sales contracts:
Gross assets$180  $377  
Gross liabilities4,412  920  
Net forward sales contracts$(4,232) $(543) 
Fair Value Measurement
The fair value measurement adjustment as of June 30, 2020 was as follows:
Notional or
Principal
Amount
Assumed
Gain/(Loss)
From Loan
Sale
Interest
Rate
Movement
Effect
Servicing
Rights
Value
Security
Price
Change
Total Fair
Value
Measurement
Gain/(Loss)
Rate lock commitments$736,509  $1,989  $3,746  $3,159  $—  $8,894  
Forward sales contracts$896,225  —  —  —  (4,232) (4,232) 
Mortgages held for sale$319,462  1,516  2,624  1,606  —  5,746  
Total fair value measurement$3,505  $6,370  $4,765  $(4,232) $10,408  
Fair Value Measurements, Recurring and Nonrecurring
The following table presents the estimated fair values and carrying values of our Senior Notes as of June 30, 2020 and December 31, 2019. The estimated fair value is based on recent market prices of similar transactions, which is classified as Level 2 within the fair value hierarchy. 
June 30, 2020December 31, 2019
Estimated Fair Values:
3.95% Senior Notes due 2022$637,500  $626,520  
3.00% Senior Notes due 2030623,070  —  
Total$1,260,570  $626,520  
Carrying Values:
3.95% Senior Notes due 2022$598,612  $598,301  
3.00% Senior Notes due 2030595,350  —  
Total$1,193,962  $598,301