Mortgage Loans Held for Sale (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022		December 31, 2021
Mortgage loans held for sale – UPB	$	3,607	$	4,257
Mark-to-market adjustment(1)	(14)		124
Total mortgage loans held for sale	$	3,593	$	4,381

(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 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	2022		2021
Balance - beginning of period	$	4,381	$	5,720
Loans sold	(14,527)		(26,734)
Mortgage loans originated and purchased, net of fees	11,598		25,214
Repurchase of loans out of Ginnie Mae securitizations	2,249		2,255
Net change in unrealized loss on retained loans held for sale	(109)		(105)
Net transfers of mortgage loans held for sale(1)	1		1
Balance - end of period	$	3,593	$	6,351

(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, 2022				December 31, 2021
Mortgage Loans Held for Sale	UPB		Fair Value		UPB		Fair Value
Non-accrual(1)	$	230	$	224	$	104	$	94

(1)Non-accrual UPB includes $221 and $94 of UPB related to Ginnie Mae repurchased loans as of March 31, 2022 and December 31, 2021, respectively.