Schedule of mortgage loans held for sale at fair value |
Loans held for sale, at fair value, consisted of the following for the dates indicated (in thousands):
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September 30, 2022 |
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December 31, 2021 |
Loans held for sale - UPB: |
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Residential mortgage and home improvement loans |
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$ |
648,123
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|
|
$ |
1,859,788 |
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Commercial mortgage loans |
|
235,789
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|
|
145,463 |
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Fair value adjustments |
|
(24,262) |
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|
47,127 |
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Total loans held for sale, at fair value |
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$ |
859,650
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|
|
$ |
2,052,378 |
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Schedule of mortgage loans held for sale that were greater than 90 days past due and on non-accrual status |
The table below shows the total amount of loans held for sale that were greater than 90 days past due and on non-accrual status (in thousands):
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September 30, 2022 |
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December 31, 2021 |
Loans 90 days or more past due and on non-accrual status |
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Fair value: |
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Residential mortgage and home improvement loans |
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$ |
5,493
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|
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$ |
3,195 |
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Commercial mortgage loans |
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4,338
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|
|
3,163 |
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Total fair value |
|
9,831
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|
|
6,358 |
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Aggregate UPB: |
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Residential mortgage loans |
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6,191
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|
|
3,753 |
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Commercial mortgage loans |
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5,099
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3,323 |
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Total aggregate UPB |
|
11,290
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|
|
7,076 |
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Difference |
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$ |
(1,459) |
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$ |
(718) |
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Summary of cash flows between transferor and transferees resulted from sale of mortgage loans held for sale |
The table below shows a reconciliation of the changes in loans held for sale for the respective periods presented below (in thousands):
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For the three months ended September 30, 2022 |
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For the nine months ended September 30, 2022 |
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For the three months ended September 30, 2021 |
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For the six months ended September 30, 2021 |
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For the three months ended March 31, 2021 |
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Successor |
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Predecessor |
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Beginning balance |
$ |
1,229,594
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|
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$ |
2,052,378
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|
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$ |
2,057,542 |
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$ |
2,140,361 |
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|
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$ |
2,222,811 |
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Originations/purchases/repurchases |
2,888,128
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|
|
12,975,131
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|
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7,717,616 |
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14,827,573 |
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|
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8,569,575 |
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Proceeds from sales |
(3,268,201) |
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(14,280,522) |
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(7,887,849) |
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(15,293,145) |
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(8,878,131) |
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Loans acquired through business combinations |
—
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—
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— |
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— |
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35,226 |
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Net transfers (to) from loans held for investment |
—
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—
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(10,460) |
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|
7,034 |
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— |
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Gain on loans held for sale, net |
10,287
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|
|
122,641
|
|
|
174,655 |
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|
368,884 |
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|
|
188,564 |
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Net fair value gain (loss) on loans held for sale |
(158) |
|
|
(9,978) |
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|
158 |
|
|
955 |
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|
|
2,316 |
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Ending balance |
$ |
859,650
|
|
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$ |
859,650
|
|
|
$ |
2,051,662 |
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$ |
2,051,662 |
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$ |
2,140,361 |
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