Quarterly report pursuant to Section 13 or 15(d)

Loans Held for Sale, at Fair Value (Tables)

v3.22.1
Loans Held for Sale, at Fair Value (Tables)
3 Months Ended
Mar. 31, 2022
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):
 
    
March 31,
2022
    
December 31,
2021
 
Loans held for sale - UPB:
                 
Residential mortgage and home improvement loans
  
$
1,499,525
 
   $ 1,859,788  
Commercial mortgage loans
  
 
211,516
 
     145,463  
Fair value adjustments
  
 
(1,684
     47,127  
    
 
 
    
 
 
 
Total loans held for sale, at fair value
  
$
1,709,357
 
   $ 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):
 
    
March 31,
2022
    
December 31,
2021
 
Loans 90 days or more past due and on
non-accrual
status
                 
Fair value:
                 
Residential mortgage and home improvement loans
  
$
3,495      $ 3,195  
Commercial mortgage loans
     2,549        3,163  
    
 
 
    
 
 
 
Total fair value
  
 
6,044
 
     6,358  
    
 
 
    
 
 
 
Aggregate UPB:
                 
Residential mortgage loans
     3,993        3,753  
Commercial mortgage loans
     2,676        3,323  
    
 
 
    
 
 
 
Total aggregate UPB
  
 
6,669
 
     7,076  
    
 
 
    
 
 
 
Difference
  
$
(625
   $ (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
March 31,
2022
    
January 1, 2021

to

March 31, 2021
 
    
Successor
    
Predecessor
 
Beginning balance
  
$
2,052,378
 
   $ 2,222,811  
Originations/purchases/repurchases
  
 
5,488,887
 
     8,569,575  
Proceeds from sales
  
 
(5,872,779
     (8,878,131
Loans acquired through business combinations
  
 
—  
 
     35,226  
Net transfers from loans held for investment
  
 
2,905
 
     —    
Gain on loans held for sale, net
  
 
44,872
 
     188,564  
Net fair value gains on loans held for sale
  
 
(6,906
     2,316  
    
 
 
    
 
 
 
Ending balance
  
$
1,709,357
 
   $ 2,140,361