Quarterly report pursuant to Section 13 or 15(d)

Loans Held for Sale, at Fair Value (Tables)

v3.23.1
Loans Held for Sale, at Fair Value (Tables)
3 Months Ended
Mar. 31, 2023
Receivables [Abstract]  
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):
March 31, 2023 December 31, 2022
Loans held for sale - UPB:
Residential mortgage and home improvement loans $ 67,794  $ 15,529 
Commercial mortgage loans 19,747  173,112 
Fair value adjustments (10,047) (14,657)
Total loans held for sale, at fair value $ 77,494  $ 173,984 
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):
March 31, 2023 December 31, 2022
Loans 90 days or more past due and on non-accrual status
Fair value:
Residential mortgage and home improvement loans $ 5,984  $ 5,049 
Commercial mortgage loans 993  2,817 
Total fair value 6,977  7,866 
Aggregate UPB:
Residential mortgage loans 6,535  5,427 
Commercial mortgage loans 1,185  3,405 
Total aggregate UPB 7,720  8,832 
Difference $ (743) $ (966)
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):
For the three months ended March 31, 2023 For the three months ended March 31, 2022
Beginning balance $ 173,984  $ 158,156 
Originations/purchases/repurchases 79,286  430,806 
Proceeds from sales (200,456) (368,656)
Net transfers from loans held for investment 15,580  — 
Net transfers from discontinued operations 12,526  — 
Gain (loss) on loans held for sale, net (12,387) 5,534 
Net fair value gain (loss) on loans held for sale 8,961  (7,372)
Ending balance $ 77,494  $ 218,468