Fair Value (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Undesignated Derivative Instruments

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

	September 30, 2021		December 31, 2020
Rate lock commitments:
Gross assets	$	11,540	$	10,844
Gross liabilities	3,578		87
Net rate lock commitments	$	7,962	$	10,757
Forward sales contracts:
Gross assets	$	3,800	$	1
Gross liabilities	397		5,217
Net forward sales contracts	$	3,403	$	(5,216)

Fair Value Measurement

The fair value measurement adjustment as of September 30, 2021 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	$	961,557	$	1,912	$	(2,466)	$	8,516	$	—	$	7,962
Forward sales contracts	$	1,107,575	—		—		—		3,403		3,403
Mortgages held for sale	$	284,838	858		(1,174)		3,003		—		2,687
Total fair value measurement			$	2,770	$	(3,640)	$	11,519	$	3,403	$	14,052

Fair Value Measurements, Recurring and Nonrecurring

The following table presents the estimated fair values and carrying values of our Senior Notes as of September 30, 2021 and December 31, 2020. The estimated fair value is based on recent market prices of similar transactions, which is classified as Level 2 within the fair value hierarchy.

	September 30, 2021		December 31, 2020
Estimated Fair Values:
3.95% Senior Notes due 2022	$	614,568	$	630,000
3.00% Senior Notes due 2030	941,697		982,620
Total	$	1,556,265	$	1,612,620
Carrying Values:
3.95% Senior Notes due 2022	$	599,396	$	598,925
3.00% Senior Notes due 2030	917,148		918,470
Total	$	1,516,544	$	1,517,395