Mortgage Loans Held for Sale (Tables)

6 Months Ended

Jun. 30, 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	June 30, 2021		December 31, 2020
Mortgage loans held for sale – UPB	$	6,706	$	5,438
Mark-to-market adjustment(1)	255		282
Total mortgage loans held for sale	$	6,961	$	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:

	Six Months Ended June 30,
Mortgage Loans Held for Sale	2021		2020
Balance - beginning of period	$	5,720	$	4,077
Loans sold	(52,128)		(26,149)
Mortgage loans originated and purchased, net of fees	47,560		23,110
Repurchase of loans out of Ginnie Mae securitizations	5,812		2,092
Net change in unrealized (loss) gain on retained loans held for sale	(5)		42
Net transfers of mortgage loans held for sale(1)	2		7
Balance - end of period	$	6,961	$	3,179

(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:

	June 30, 2021				December 31, 2020
Mortgage Loans Held for Sale	UPB		Fair Value		UPB		Fair Value
Non-accrual(1)	$	1,178	$	1,216	$	64	$	54

(1)Non-accrual UPB includes $1,149 and $48 of UPB related to Ginnie Mae repurchased loans as of June 30, 2021 and December 31, 2020, respectively.