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LOANS HELD FOR SALE, AT FAIR VALUE
 9 Months Ended
Sep. 30, 2024
Receivables [Abstract]  
LOANS HELD FOR SALE, AT FAIR VALUE LOANS HELD FOR SALE, AT FAIR VALUE
The following table represents the unpaid principal balance of loans held for sale by product type of loan as of September 30, 2024 and December 31, 2023:
September 30,
2024		December 31,
2023
Amount%Amount%
Conforming - fixed$1,407,798 52 %$1,211,449 57 %
Conforming - ARM36,761 1 18,592 1 
Government - fixed 938,403 34 777,860 36 
Government - ARM28,185 1 20,403 1 
Other - residential mortgage loans251,009 9 37,424 2 
Other - HELOC
76,979 3 67,354 3 
Total2,739,135 100 %2,133,082 100 %
Fair value adjustment51,149 (202)
Loans held for sale, at fair value$2,790,284 $2,132,880 

A summary of the changes in the balance of loans held for sale is as follows:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Balance at beginning of period$2,377,987 $2,256,551 $2,132,880 $2,373,427 
Origination and purchase of loans6,545,027 6,005,613 17,026,481 17,097,155 
Sales(6,311,590)(6,219,208)(16,527,301)(17,648,412)
Transfers to loans held for investment
— — (122,532)— 
Repurchases174,747 88,820 462,520 331,961 
Principal payments(19,396)(46,886)(200,983)(93,671)
Fair value gain (loss)
23,509 (14,142)19,219 10,288 
Balance at end of period$2,790,284 $2,070,748 $2,790,284 $2,070,748 
Gain on origination and sale of loans, net is comprised of the following components:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Premium (discount) from loan sales
$81,081 $(64,973)$100,406 $(108,289)
Servicing rights additions62,039 80,068 176,529 215,229 
Unrealized gains from derivative assets and liabilities
1,887 3,509 58,071 66,665 
Realized (losses) gains from derivative assets and liabilities
(59,712)58,417 (105,609)15,063 
Discount points, rebates and lender paid costs86,116 83,772 220,111 222,332 
Fair value gain (loss)
23,509 (14,142)19,219 10,288 
Recovery (provision) for loan loss obligation for loans sold3,107 2,198 12,280 (9,952)
Total gain on origination and sale of loans, net$198,027 $148,849 $481,007 $411,336 

The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for loans held for sale.
September 30, 2024December 31, 2023
Fair valueUPBDifferenceFair valueUPBDifference
Current through 89 days delinquent$2,772,732 $2,719,703 $53,029 $2,113,106 $2,108,125 $4,980 
90+ days delinquent(1)
17,552 19,432 (1,880)19,774 24,957 (5,182)
Total$2,790,284 $2,739,135 $51,149 $2,132,880 $2,133,082 $(202)
(1) 90+ days delinquent loans are on non-accrual status.