Fair Value (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Undesignated Derivative Instruments

The fair value measurement of NVRM's undesignated derivative instruments was as follows:

	As of December 31,
	2020		2019
Rate lock commitments:
Gross assets	$	10,844	$	8,132
Gross liabilities	87		497
Net rate lock commitments	$	10,757	$	7,635
Forward sales contracts:
Gross assets	$	1	$	377
Gross liabilities	5,217		920
Net forward sales contracts	$	(5,216)	$	(543)

Fair Value Measurement

The fair value measurement as of December 31, 2020 was as follows:

	Notional or Principal Amount		Assumed Gain/(Loss) From Loan Sale		Interest Rate Movement Effect		Servicing Rights Value		Security Price Change		Total Fair Value Measurement Gain/(Loss)
Rate lock commitments	$	617,308	$	3,227	$	3,263	$	4,267	$	—	$	10,757
Forward sales contracts	$	916,588	—		—		—		(5,216)		(5,216)
Mortgages held for sale	$	439,718	3,359		2,817		3,866		—		10,042
Total fair value measurement			$	6,586	$	6,080	$	8,133	$	(5,216)	$	15,583

Fair Value Measurements, Recurring and Nonrecurring

The following table presents the estimated fair values and carrying values of our Senior Notes as of December 31, 2020 and December 31, 2019. The estimated fair value is based on recent market prices of similar transactions, which is classified as Level 2 within the fair value hierarchy. 

	December 31, 2020		December 31, 2019
Estimated Fair Values:
3.95% Senior Notes due 2022	$	630,000	$	626,520
3.00% Senior Notes due 2030	982,620		—
Total	$	1,612,620	$	626,520
Carrying Values:
3.95% Senior Notes due 2022	$	598,925	$	598,301
3.00% Senior Notes due 2030	918,470		—
Total	$	1,517,395	$	598,301