Annual report pursuant to Section 13 and 15(d)

Loans Held for Sale, at Fair Value (Tables)

v3.22.0.1
Loans Held for Sale, at Fair Value (Tables)
12 Months Ended
Dec. 31, 2021
Mortgage Loans Held for Sale At Fair Value [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):
                 
    
December 31, 2021
    
December 31, 2020
 
    
Successor
    
Predecessor
 
Loans held for sale—UPB:
      
 
        
Residential mortgage and home improvement loans
  
$
1,859,788
 
   $ 2,000,795  
Commercial mortgage loans
  
 
145,463
 
     140,693  
Fair value adjustments
  
 
47,127
 
     81,323  
    
 
 
    
 
 
 
Total loans held for sale, at fair value
  
$
2,052,378
 
   $ 2,222,811  
    
 
 
    
 
 
 
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):
                 
    
December 31, 2021
    
December 31, 2020
 
    
Successor
    
Predecessor
 
Loans 90 days or more past due and on
non-accrual
status Fair value:
      
 
        
Residential mortgage and home improvement loans
  
$
3,195
 
   $ 10,628  
Commercial mortgage loans
  
 
3,163
 
     5,051  
    
 
 
    
 
 
 
Total fair value
  
 
6,358
 
     15,679  
    
 
 
    
 
 
 
Aggregate UPB:
                 
Residential mortgage loans
  
 
3,753
 
     13,236  
Commercial mortgage loans
  
 
3,323
 
     5,317  
    
 
 
    
 
 
 
Total aggregate UPB
  
 
7,076
 
     18,553  
    
 
 
    
 
 
 
Difference
  
$
(718
   $ (2,874
    
 
 
    
 
 
 
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):
                         
    
April 1, 2021

to

December 31, 2021
    
January 1, 2021

to

March 31, 2021
   
For the year
ended
December 31, 2020
 
    
Successor
    
Predecessor
 
Beginning balance   
$
2,140,361
 
  
$
2,222,811
 
  $ 1,251,574  
Originations/purchases/repurchases   
 
21,843,640
 
  
 
8,569,575
 
    29,407,723  
Proceeds from sales   
 
(22,438,540
)   
 
(8,878,131
    (29,628,177
Loans acquired through business combinations
  
 
 
  
 
35,226
 
     
Net transfers from loans held for investment
  
 
8,828
 
  
 
 
    183,578  
Gain on loans held for sale, net
  
 
497,557
 
  
 
188,564
 
    1,009,105  
Net fair value gains on loans held for sale
  
 
532
 
  
 
2,316
 
    (992
    
 
 
    
 
 
 
 
 
 
 
Ending balance
  
$
2,052,378
 
  
$
2,140,361
 
  $ 2,222,811