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Fair Value (Tables)
6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Undesignated Derivative Instruments The fair value measurement of NVRM's undesignated derivative instruments was as follows:
June 30, 2023December 31, 2022
Rate lock commitments:
Gross assets$44,034 $32,246 
Gross liabilities24,585 20,946 
Net rate lock commitments$19,449 $11,300 
Forward sales contracts:
Gross assets$14,063 $4,843 
Gross liabilities944 20,903 
Net forward sales contracts$13,119 $(16,060)
Fair Value Measurement The fair value measurement as of June 30, 2023 was as follows:
Notional or
Principal
Amount
Assumed
Gain
From Loan
Sale
Interest
Rate
Movement
Effect
Servicing
Rights
Value
Security
Price
Change
Total Fair
Value
Measurement
Rate lock commitments$2,618,808 $8,932 $(23,985)$34,502 $— $19,449 
Forward sales contracts$2,780,429 — — — 13,119 13,119 
Mortgages held for sale$436,270 1,754 (5,715)6,447 — 2,486 
Total fair value measurement$10,686 $(29,700)$40,949 $13,119 $35,054 
Fair Value Measurements, Recurring and Nonrecurring The estimated fair values of our Senior Notes as of June 30, 2023 and December 31, 2022 were $792,540 and $788,166, respectively. The estimated fair value is based on recent market prices of similar transactions, which is classified as Level 2 within the fair value hierarchy. The carrying values at June 30, 2023 and December 31, 2022 were $913,963 and $914,888, respectively. Except as otherwise noted below, we believe that insignificant differences exist between the carrying value and the fair value of our financial instruments, which consist primarily of cash equivalents, due to their short term nature.