Summary of Carrying Value and Fair Value of Financial Instruments |
The carrying value and fair value of our financial instruments are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2021 | | December 31, 2020 | (Dollars in thousands) | | Level in Fair Value Hierarchy | | Carrying Value | | Estimated Fair Value | | Carrying Value | | Estimated Fair Value | Description: | | | | | | | | | | | Mortgage loans held for sale | | 2 | | $ | 277,017 | | | $ | 277,017 | | | $ | 201,177 | | | $ | 201,177 | | IRLCs | | 3 | | 3,687 | | | 3,687 | | | 5,294 | | | 5,294 | | MBSs | | 2 | | (11) | | | (11) | | | (1,847) | | | (1,847) | | | | | | | | | | | | | Mortgage warehouse borrowings | | 2 | | 215,230 | | | 215,230 | | | 127,289 | | | 127,289 | | Loans payable and other borrowings | | 2 | | 415,074 | | | 415,074 | | | 348,741 | | | 348,741 | | | | | | | | | | | | | | | | | | | | | | | | 5.875% Senior Notes due 2023 (1) | | 2 | | 348,984 | | | 373,660 | | | 348,700 | | | 371,000 | | | | | | | | | | | | | 5.625% Senior Notes due 2024 (1) | | 2 | | 348,565 | | | 379,295 | | | 348,295 | | | 375,830 | | | | | | | | | | | | | 5.875% Senior Notes due 2027 (1) | | 2 | | 495,365 | | | 565,650 | | | 494,974 | | | 566,650 | | 6.625% Senior Notes due 2027 (1) | | 2 | | 319,317 | | | 321,000 | | | 320,915 | | | 324,240 | | 5.75% Senior Notes due 2028(1) | | 2 | | 445,870 | | | 508,050 | | | 445,555 | | | 509,625 | | 5.125% Senior Notes due 2030(1) | | 2 | | 494,243 | | | 540,650 | | | 493,926 | | | 560,000 | | | | | | | | | | | | | | | | | | | | | | | | (1) Carrying value for Senior Notes, as presented, includes unamortized debt issuance costs and premiums. Debt issuance costs are not factored into the fair value calculation for the Senior Notes.
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