Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

The following tables provide the outstanding notional balances, fair values of outstanding positions and recorded gains/(losses) for the derivative financial instruments. Gains/(losses) include both realized and unrealized gains/(losses) of each derivative financial instrument.

		March 31, 2024				Three Months Ended March 31, 2024
Derivative Financial Instruments	Expiration Dates	Outstanding Notional		Fair Value		Gain/(Loss)
Assets
Mortgage loans held for sale
Loan sale commitments	2024	$	399	$	15	$	4
Derivative financial instruments
IRLCs	2024	$	765	$	27	$	6
LPCs	2024	244		1		(1)
Forward MBS trades	2024	1,801		9		(2)
Treasury futures	2024	2,969		18		(95)
Total derivative financial instruments - assets		$	5,779	$	55	$	(92)
Liabilities
Derivative financial instruments
IRLCs	2024	$	2	$	—	$	—
LPCs	2024	91		—		—
Forward MBS trades	2024	3,930		10		(28)
Treasury futures	2024	343		1		—
Total derivative financial instruments - liabilities		$	4,366	$	11	$	(28)

		March 31, 2023				Three Months Ended March 31, 2023
Derivative Financial Instruments	Expiration Dates	Outstanding Notional		Fair Value		Gain/(Loss)
Assets
Mortgage loans held for sale
Loan sale commitments	2023	$	399	$	12	$	2
Derivative financial instruments
IRLCs	2023	$	940	$	33	$	11
LPCs	2023	484		3		2
Forward MBS trades	2023	1,056		18		35
Treasury futures	2023	2,445		71		71
Total derivative financial instruments - assets		$	4,925	$	125	$	119
Liabilities
Derivative financial instruments
IRLCs	2023	$	25	$	—	$	—
LPCs	2023	85		—		1
Forward MBS trades	2023	1,439		10		(47)
Treasury futures	2023	193		1		(23)
Total derivative financial instruments - liabilities		$	1,742	$	11	$	(69)