Mortgage Loans Held for Sale (Tables)

3 Months Ended

Mar. 31, 2021

Mortgage Loans Held for Sale and Investment [Abstract]

Schedule of mortgage loans held-for-sale

Mortgage loans held for sale are recorded at fair value as set forth below:

Mortgage Loans Held for Sale	March 31, 2021		December 31, 2020
Mortgage loans held for sale – UPB	$	6,204	$	5,438
Mark-to-market adjustment(1)	147		282
Total mortgage loans held for sale	$	6,351	$	5,720

(1)The mark-to-market adjustment includes net change in unrealized gain/loss, premium on correspondent loans and fees on direct-to-consumer loans. The mark-to-market adjustment is recorded in net gain on mortgage loans held for sale in the unaudited condensed consolidated statements of operations.

The following table sets forth the activities of mortgage loans held for sale:

	Three Months Ended March 31,
Mortgage Loans Held for Sale	2021		2020
Balance - beginning of period	$	5,720	$	4,077
Loans sold	(26,734)		(13,510)
Mortgage loans originated and purchased, net of fees	25,214		12,375
Repurchase of loans out of Ginnie Mae securitizations	2,255		919
Net change in unrealized (loss) gain on loans held for sale	(105)		61
Net transfers of mortgage loans held for sale(1)	1		—
Balance - end of period	$	6,351	$	3,922

(1)Amount reflects transfers to other assets for loans transitioning into REO status and transfers to advances and other receivables, net, for claims made on certain government insurance mortgage loans. Transfers out are net of transfers in upon receipt of proceeds from an REO sale or claim filing.

The total UPB and fair value of mortgage loans held for sale on non-accrual status was as follows:

	March 31, 2021				December 31, 2020
Mortgage Loans Held for Sale	UPB		Fair Value		UPB		Fair Value
Non-accrual(1)	$	67	$	54	$	64	$	54

(1)Non-accrual UPB includes $48 of UPB related to Ginnie Mae repurchased loans as of March 31, 2021 and December 31, 2020.