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Fair Value (Tables)
12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Undesignated Derivative Instruments
The fair value measurement of NVRM's undesignated derivative instruments was as follows:
As of December 31,
 20232022
Rate lock commitments:
Gross assets$61,150 $32,246 
Gross liabilities168 20,946 
Net rate lock commitments$60,982 $11,300 
Forward sales contracts:
Gross assets$$4,843 
Gross liabilities18,305 20,903 
Net forward sales contracts$(18,297)$(16,060)
Fair Value Measurement
The fair value measurement as of December 31, 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
Gain/(Loss)
Rate lock commitments$2,110,217 $5,839 $31,548 $23,595 $— $60,982 
Forward sales contracts$1,856,541 — — — (18,297)(18,297)
Mortgages held for sale$216,211 865 2,521 2,963 — 6,349 
Total fair value measurement$6,704 $34,069 $26,558 $(18,297)$49,034 
Fair Value Measurements, Recurring and Nonrecurring The estimated fair values of our Senior Notes as of December 31, 2023 and 2022 were $803,646 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 December 31, 2023 and 2022 were $913,027 and $914,888, respectively.