Quarterly report pursuant to Section 13 or 15(d)

Loans Held for Sale, at Fair Value (Tables)

v3.22.2.2
Loans Held for Sale, at Fair Value (Tables)
9 Months Ended
Sep. 30, 2022
Receivables [Abstract]  
Schedule of mortgage loans held for sale at fair value
Loans held for sale, at fair value, consisted of the following for the dates indicated (in thousands):
September 30, 2022 December 31, 2021
Loans held for sale - UPB:
Residential mortgage and home improvement loans $ 648,123  $ 1,859,788 
Commercial mortgage loans 235,789  145,463 
Fair value adjustments (24,262) 47,127 
Total loans held for sale, at fair value $ 859,650  $ 2,052,378 
Schedule of mortgage loans held for sale that were greater than 90 days past due and on non-accrual status
The table below shows the total amount of loans held for sale that were greater than 90 days past due and on non-accrual status (in thousands):
September 30, 2022 December 31, 2021
Loans 90 days or more past due and on non-accrual status
Fair value:
Residential mortgage and home improvement loans $ 5,493  $ 3,195 
Commercial mortgage loans 4,338  3,163 
Total fair value 9,831  6,358 
Aggregate UPB:
Residential mortgage loans 6,191  3,753 
Commercial mortgage loans 5,099  3,323 
Total aggregate UPB 11,290  7,076 
Difference $ (1,459) $ (718)
Summary of cash flows between transferor and transferees resulted from sale of mortgage loans held for sale
The table below shows a reconciliation of the changes in loans held for sale for the respective periods presented below (in thousands):
For the three months ended September 30, 2022 For the nine months ended September 30, 2022 For the three months ended September 30, 2021 For the six months ended September 30, 2021 For the three months ended March 31, 2021
Successor Predecessor
Beginning balance $ 1,229,594  $ 2,052,378  $ 2,057,542  $ 2,140,361  $ 2,222,811 
Originations/purchases/repurchases 2,888,128  12,975,131  7,717,616  14,827,573  8,569,575 
Proceeds from sales (3,268,201) (14,280,522) (7,887,849) (15,293,145) (8,878,131)
Loans acquired through business combinations     —  —  35,226 
Net transfers (to) from loans held for investment     (10,460) 7,034  — 
Gain on loans held for sale, net 10,287  122,641  174,655  368,884  188,564 
Net fair value gain (loss) on loans held for sale (158) (9,978) 158  955  2,316 
Ending balance $ 859,650  $ 859,650  $ 2,051,662  $ 2,051,662  $ 2,140,361