XML 25 R9.htm IDEA: XBRL DOCUMENT v3.22.4
Mortgage Loans at Fair Value
 12 Months Ended
Dec. 31, 2022
Receivables [Abstract]  
Mortgage Loans at Fair Value MORTGAGE LOANS AT FAIR VALUEThe table below includes the estimated fair value and unpaid principal balance (“UPB”) of mortgage loans that have contractual principal amounts and for which the Company has elected the fair value option. The fair value option has been elected for mortgage loans, as this accounting treatment best reflects the economic consequences of the Company’s mortgage origination and related hedging and risk management activities. The difference between the UPB and estimated fair value is made up of the premiums paid on mortgage loans, as well as the fair value adjustment as of the balance sheet date. The change in fair value adjustment is recorded in the “Loan production income” line item of the consolidated statements of operations.
(In thousands)December 31,
2022		December 31,
2021
Mortgage loans, unpaid principal balance$7,128,131 $16,630,907 
Premiums paid on mortgage loans70,914 238,963 
Fair value adjustment(64,085)40,031 
Mortgage loans at fair value$7,134,960 $16,909,901