Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following are the major categories of financial assets and liabilities measured at fair value on a recurring basis (in thousands):

	June 30, 2021
Description	Level 1		Level 2		Level 3		Total
Assets:
Mortgage loans at fair value	$	—	$	12,404,112	$	—	$	12,404,112
IRLCs	—		—		62,566		62,566
FLSCs	—		12,872		—		12,872
Mortgage servicing rights	—		—		2,662,556		2,662,556
Total assets	$	—	$	12,416,984	$	2,725,122	$	15,142,106
Liabilities:
IRLCs	$	—	$	—	$	5,967	$	5,967
FLSCs	—		76,584		—		76,584
Public and Private Warrants	18,914		7,814		—		26,728
Total liabilities	$	18,914	$	84,398	$	5,967	$	109,279
	December 31, 2020
Description	Level 1		Level 2		Level 3		Total
Assets:
Mortgage loans at fair value	$	—	$	7,916,515	$	—	$	7,916,515
IRLCs	—		—		60,248		60,248
FLSCs	—		824		—		824
Total assets	$	—	$	7,917,339	$	60,248	$	7,977,587
Liabilities:
IRLCs	$	—	$	—	$	670	$	670
FLSCs	—		65,567		—		65,567
Total liabilities	$	—	$	65,567	$	670	$	66,237

Quantitative Information on Recurring Level 3 Fair Value Financial Instruments

The following table present quantitative information about the inputs used in recurring Level 3 fair value financial instruments and the fair value measurements for IRLCs:

Unobservable Input - IRLCs	June 30, 2021		December 31, 2020
Pullthrough rate (weighted avg)	87	%	92	%

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis

The following table presents the carrying amounts and estimated fair value of the Company's financial liabilities that are not measured at fair value on a recurring or nonrecurring basis (in thousands).

	June 30, 2021				December 31, 2020
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
2020 Senior Notes, due 11/15/25	$	790,418	$	828,808	$	789,323	$	841,300
2021 Senior Notes, due 4/15/29	693,169		701,750		—		—