Mortgage Loans |
9 Months Ended |
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Jun. 30, 2019 | |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract] | |
MORTGAGE LOANS | MORTGAGE LOANS Mortgage loans held for sale consist primarily of single-family residential loans collateralized by the underlying property. At June 30, 2019, mortgage loans held for sale had an aggregate carrying value of $954.9 million and an aggregate outstanding principal balance of $924.8 million. At September 30, 2018, mortgage loans held for sale had an aggregate carrying value of $796.4 million and an aggregate outstanding principal balance of $776.1 million. During the nine months ended June 30, 2019 and 2018, mortgage loans originated totaled $6.0 billion and $5.5 billion, respectively, and mortgage loans sold totaled $5.8 billion and $5.4 billion, respectively. The Company had gains on sales of loans and servicing rights of $85.4 million and $218.3 million during the three and nine months ended June 30, 2019, respectively, compared to $68.0 million and $193.7 million in the prior year periods. Net gains on sales of loans and servicing rights are included in revenues in the consolidated statements of operations. Approximately 93% of the mortgage loans sold by DHI Mortgage during the nine months ended June 30, 2019 were sold to four major financial entities, the largest of which purchased 32% of the total loans sold. |