Mortgage Loans Held for Sale (Tables)

12 Months Ended

Dec. 31, 2023

Mortgage Loans Held for Sale [Abstract]

Schedule of Mortgage Loans Held-for-Sale

Mortgage loans held for sale are recorded at fair value as set forth below:

	Year Ended December 31,
Mortgage Loans Held for Sale	2023		2022
Mortgage loans held for sale - UPB	$	924	$	921
Mark-to-market adjustment(1)	3		(28)
Total mortgage loans held for sale	$	927	$	893

(1)The mark-to-market adjustment includes net change in unrealized gain/loss, premium on correspondent loans and fees on direct-to-consumer loans. The mark-to-market adjustment is recorded in “revenues - net gain on mortgage loans held for sale” in the consolidated statements of operations.

The following table sets forth the activities of mortgage loans held for sale:

	Year Ended December 31,
Mortgage Loans Held for Sale	2023		2022
Balance - beginning of year	$	893	$	4,381
Loans sold and loan payments received	(14,097)		(34,731)
Mortgage loans originated and purchased, net of fees	12,856		28,309
Repurchase of loans out of Ginnie Mae securitizations(1)	1,234		3,067
Net change in unrealized gain (loss) on retained loans held for sale	44		(132)
Net transfers of mortgage loans held for sale(2)	(3)		(1)
Balance - end of year	$	927	$	893

(1)The Company has the optional right to repurchase any individual loan in a Ginnie Mae securitization pool if that loan meets certain criteria, including being delinquent greater than 90 days. The majority of Ginnie Mae repurchased loans are repurchased in connection with loan modifications and loan resolution activity, with the intent to re-pool into new Ginnie Mae securitizations upon re-performance of the loan or to otherwise sell to third-party investors. Therefore, these loans are classified as held for sale.

(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.

The total UPB of mortgage loans held for sale on non-accrual status was as follows:

	December 31, 2023				December 31, 2022
Mortgage Loans Held for Sale	UPB		Fair Value		UPB		Fair Value
Non-accrual(1)	$	42	$	36	$	102	$	87

(1)Non-accrual UPB includes $35 and $90 of UPB related to Ginnie Mae repurchased loans as of December 31, 2023 and 2022, respectively.