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, 2022 | | December 31, 2021 | | | (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 | | $ | 203,238 | | | $ | 203,238 | | | $ | 467,534 | | | $ | 467,534 | | | | IRLCs | | 3 | | 4,918 | | | 4,918 | | | 2,110 | | | 2,110 | | | | MBSs | | 2 | | (1,330) | | | (1,330) | | | (449) | | | (449) | | | | | | | | | | | | | | | | | Mortgage warehouse borrowings | | 2 | | 179,555 | | | 179,555 | | | 413,887 | | | 413,887 | | | | Loans payable and other borrowings | | 2 | | 447,191 | | | 447,191 | | | 404,386 | | | 404,386 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5.875% Senior Notes due 2023 (1) | | 2 | | 349,551 | | | 349,125 | | | 349,267 | | | 365,890 | | | | | | | | | | | | | | | | | 5.625% Senior Notes due 2024 (1) | | 2 | | 349,103 | | | 340,270 | | | 348,834 | | | 372,750 | | | | | | | | | | | | | | | | | 5.875% Senior Notes due 2027 (1) | | 2 | | 496,149 | | | 460,850 | | | 495,757 | | | 560,000 | | | | 6.625% Senior Notes due 2027 (1) | | 2 | | 37,817 | | | 34,378 | | | 317,718 | | | 315,750 | | | | 5.75% Senior Notes due 2028(1) | | 2 | | 446,502 | | | 403,785 | | | 446,186 | | | 502,875 | | | | 5.125% Senior Notes due 2030(1) | | 2 | | 494,876 | | | 415,250 | | | 494,560 | | | 550,000 | | | | $800 Million Revolving Credit Facility | | 2 | | 150,000 | | | 150,000 | | | — | | | — | | | | $100 Million Revolving Credit Facility | | 2 | | — | | | — | | | 31,529 | | | 31,529 | | | | Equity Security Investment | | 1 | | 2,180 | | | 2,180 | | | 6,400 | | | 6,400 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(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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