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Mortgage Loans Held for Sale and Investment (Tables)
 3 Months Ended
Mar. 31, 2020
Mortgage Loans Held for Sale and Investment [Abstract]  
Schedule of Mortgage Loans Held-for-Sale
Mortgage loans held for sale are recorded at fair value as set forth below:
Mortgage Loans Held for Sale
March 31, 2020
 
December 31, 2019
Mortgage loans held for sale – UPB
$
3,735

 
$
3,949

Mark-to-market adjustment(1)
187

 
128

Total mortgage loans held for sale
$
3,922

 
$
4,077



(1) 
The mark-to-market adjustment is recorded in net gain on mortgage loans held for sale in the consolidated statements of operations.
The total UPB and fair value of mortgage loans held for sale on non-accrual status was as follows:
 
March 31, 2020
 
December 31, 2019
Mortgage Loans Held for Sale
UPB
 
Fair Value
 
UPB
 
Fair Value
Non-accrual(1)
$
33

 
$
23

 
$
29

 
$
22



(1) 
Non-accrual - UPB includes $28 and $25 of UPB related to Ginnie Mae repurchased loans as of March 31, 2020 and December 31, 2019, respectively.
Schedule of Reconciliation of Mortgage Loans Held-for-Sale to Cash Flow
The following table sets forth the activities of mortgage loans held for sale:
Mortgage Loans Held for Sale
Three Months Ended March 31, 2020
 
Three Months Ended March 31, 2019
Balance - beginning of period
$
4,077

 
$
1,631

Loans sold
(13,510
)
 
(6,088
)
Mortgage loans originated and purchased, net of fees(1)
12,375

 
6,253

Repurchase of loans out of Ginnie Mae securitizations
919

 
364

Changes in fair value
61

 
10

Net transfers of mortgage loans held for sale(2)
—

 
—

Balance - end of period
$
3,922

 
$
2,170



(1) 
Mortgage loans originated and purchased during the three months ended March 31, 2019 includes $536 of loans held for sale that were acquired from Pacific Union. See Note 2, Acquisitions, for further discussion.
(2) 
Amount reflects transfers to other assets for loans transitioning into REO status and transfers to advances and other receivables, net for claims made on certain government insurance mortgage loans. Transfers out are net of transfers in upon receipt of proceeds from an REO sale or claim filing.