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Use of Special Purpose Entities and Variable Interest Entities (Tables)
 12 Months Ended
Dec. 31, 2022
Use Of Special Purpose Entities And Variable Interest Entities  
Schedule of Key Details Related to Securitization Transactions
The following table summarizes the key details of the Company’s loan securitization transactions currently outstanding as of December 31, 2022 and 2021:
(Dollars in Thousands)December 31, 2022December 31, 2021
Aggregate unpaid principal balance of residential whole loans sold$6,732,609 $3,984,355 
Face amount of Senior Bonds issued by the VIE and purchased by third-party investors$5,333,090 $3,667,790 
Outstanding amount of Senior Bonds, at carrying value$922,220 (1)$1,334,342 (1)
Outstanding amount of Senior Bonds, at fair value$2,435,370 $1,316,131 
Outstanding amount of Senior Bonds, total$3,357,590 $2,650,473 
Weighted average fixed rate for Senior Bonds issued3.38 %(2)2.01 %(2)
Weighted average contractual maturity of Senior Bonds38 years(2)36 years(2)
Face amount of Senior Support Certificates received by the Company (3)
$715,640 $283,930 
Cash received$5,300,681 $3,682,082 

(1)Net of $2.9 million and $6.8 million of deferred financing costs at December 31, 2022 and 2021, respectively.
(2)At December 31, 2022 and 2021, $1.9 billion and $329.0 million, respectively, of Senior Bonds sold in securitization transactions contained a contractual coupon step-up feature whereby the coupon increases by either 100, 200 or 300 basis points or more at defined dates ranging from 30 months, up to 48 months from issuance if the bond is not redeemed before such date.
(3)Provides credit support to the Senior Bonds sold to third-party investors in the securitization transactions.