| Schedule of mortgage loans held for sale at fair value |
Loans held for sale, at fair value, consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2023 |
|
December 31, 2022 |
| Loans held for sale - UPB: |
|
|
|
|
| Residential mortgage loans |
|
$ |
28,051
|
|
|
$ |
15,529 |
|
| Commercial mortgage loans |
|
3,772
|
|
|
173,112 |
|
| Fair value adjustments |
|
(7,867) |
|
|
(14,657) |
|
| Total loans held for sale, at fair value |
|
$ |
23,956
|
|
|
$ |
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):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2023 |
|
December 31, 2022 |
| Loans 90 days or more past due and on non-accrual status |
|
|
|
|
| Fair value: |
|
|
|
|
| Residential mortgage loans |
|
$ |
5,611
|
|
|
$ |
2,736 |
|
| Commercial mortgage loans |
|
—
|
|
|
2,817 |
|
| Total fair value |
|
5,611
|
|
|
5,553 |
|
| Aggregate UPB: |
|
|
|
|
| Residential mortgage loans |
|
6,193
|
|
|
2,136 |
|
| Commercial mortgage loans |
|
—
|
|
|
3,405 |
|
| Total aggregate UPB |
|
6,193
|
|
|
5,541 |
|
| Difference |
|
$ |
(582) |
|
|
$ |
12 |
|
|
| 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 September 30, 2023 |
|
For the three months ended September 30, 2022 |
|
For the nine months ended September 30, 2023 |
|
For the nine months ended September 30, 2022 |
| Beginning balance |
$ |
53,500
|
|
|
$ |
281,671 |
|
|
$ |
173,984
|
|
|
$ |
158,156 |
|
| Originations/purchases/repurchases |
55,656
|
|
|
248,520 |
|
|
180,983
|
|
|
1,095,290 |
|
| Proceeds from sales |
(80,016) |
|
|
(278,433) |
|
|
(346,026) |
|
|
(983,192) |
|
| Net transfers related to loans held for sale |
—
|
|
|
(1,281) |
|
|
15,580
|
|
|
(1,281) |
|
| Net transfers related to discontinued operations |
—
|
|
|
— |
|
|
12,525
|
|
|
(82) |
|
| Loss on loans held for sale, net |
(6,710) |
|
|
(5,101) |
|
|
(23,056) |
|
|
(12,478) |
|
| Net fair value gain (loss) on loans held for sale |
1,526
|
|
|
75 |
|
|
9,966
|
|
|
(10,962) |
|
| Ending balance |
$ |
23,956
|
|
|
$ |
245,451 |
|
|
$ |
23,956
|
|
|
$ |
245,451 |
|
|