XML 59 R45.htm IDEA: XBRL DOCUMENT v3.22.1
Organization, Summary of Significant Accounting Policies and New Accounting Standards - Derivative Financial Instruments (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Line Items]      
Derivative liability $ 7,985   $ 864
Gross Derivative Assets      
Gross Derivative Assets 9,684   5,561
Less: derivative netting (2,942)   (117)
Total, net 6,742   5,444
Gross Derivative Liabilities      
Gross Derivative Liabilities (10,927)   (981)
Gross offsetting liability positions 2,942   117
Total, net (7,985)   (864)
Total notional amount of derivative contracts outstanding 6,927,491   5,798,529
Restricted cash and cash equivalents      
Gross Derivative Liabilities      
Cash collateral included in restricted cash and restricted cash equivalents 7,985   299
Interest rate swaps      
Gross Derivative Assets      
Gross Derivative Assets 0   5,444
Gross Derivative Liabilities      
Gross Derivative Liabilities (7,985)   0
Interest rate swaps | Derivative contracts to manage future loan sale execution risk      
Gross Derivative Liabilities      
Total notional amount of derivative contracts outstanding 4,885,000   4,210,000
Interest rate swaps | Derivative contracts not designed to manage future loan sale execution risk      
Gross Derivative Liabilities      
Total notional amount of derivative contracts outstanding 310,000   0
Home loan pipeline hedges      
Gross Derivative Assets      
Gross Derivative Assets 9,684   117
Gross Derivative Liabilities      
Gross Derivative Liabilities (150)   (313)
Home loan pipeline hedges | Derivative contracts to manage future loan sale execution risk      
Gross Derivative Liabilities      
Total notional amount of derivative contracts outstanding 457,000   421,000
Interest rate caps      
Gross Derivative Assets      
Gross Derivative Assets 0   0
Gross Derivative Liabilities      
Gross Derivative Liabilities (2,792)   (668)
Interest rate caps | Derivative contracts to manage future loan sale execution risk      
Gross Derivative Liabilities      
Total notional amount of derivative contracts outstanding 405,000   405,000
Interest rate caps | Derivative contracts not designed to manage future loan sale execution risk      
Gross Derivative Liabilities      
Total notional amount of derivative contracts outstanding 405,000   405,000
IRLCs | Derivative contracts not designed to manage future loan sale execution risk      
Gross Derivative Liabilities      
Total notional amount of derivative contracts outstanding 465,491   $ 357,529
Not designated as hedging instrument      
Organization, Consolidation and Presentation of Financial Statements [Line Items]      
Gain (loss) from fair value changes on derivatives 158,910 $ 27,569  
Not designated as hedging instrument | Derivative contracts to manage future loan sale execution risk      
Organization, Consolidation and Presentation of Financial Statements [Line Items]      
Gain (loss) from fair value changes on derivatives 160,607 36,071  
Not designated as hedging instrument | Interest rate caps      
Organization, Consolidation and Presentation of Financial Statements [Line Items]      
Gain (loss) from fair value changes on derivatives (2,124) 0  
Not designated as hedging instrument | Derivative contracts to manage securitization investment valuation risk      
Organization, Consolidation and Presentation of Financial Statements [Line Items]      
Gain (loss) from fair value changes on derivatives 6,319 0  
Not designated as hedging instrument | IRLCs      
Organization, Consolidation and Presentation of Financial Statements [Line Items]      
Gain (loss) from fair value changes on derivatives (6,798) (8,502)  
Not designated as hedging instrument | Purchase price earn-out      
Organization, Consolidation and Presentation of Financial Statements [Line Items]      
Gain (loss) from fair value changes on derivatives 831 0  
Not designated as hedging instrument | Third-party warrants      
Organization, Consolidation and Presentation of Financial Statements [Line Items]      
Gain (loss) from fair value changes on derivatives 75 $ 0  
Derivative liability 964    
Gross Derivative Liabilities      
Total, net (964)    
Not designated as hedging instrument | Non-interest income, other operating income | Third-party warrants      
Organization, Consolidation and Presentation of Financial Statements [Line Items]      
Gain (loss) from fair value changes on derivatives (142)    
Not designated as hedging instrument | Noninterest expense, general and administrative | Third-party warrants      
Organization, Consolidation and Presentation of Financial Statements [Line Items]      
Gain (loss) from fair value changes on derivatives $ 217