| 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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|
|
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|
|
|
|
June 30, 2023 |
|
December 31, 2022 |
| Loans held for sale - UPB: |
|
|
|
|
| Residential mortgage and home improvement loans |
|
$ |
50,792
|
|
|
$ |
15,529 |
|
| Commercial mortgage loans |
|
12,221
|
|
|
173,112 |
|
| Fair value adjustments |
|
(9,513) |
|
|
(14,657) |
|
| Total loans held for sale, at fair value |
|
$ |
53,500
|
|
|
$ |
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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|
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|
|
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|
June 30, 2023 |
|
December 31, 2022 |
| Loans 90 days or more past due and on non-accrual status |
|
|
|
|
| Fair value: |
|
|
|
|
| Residential mortgage and home improvement loans |
|
$ |
5,647
|
|
|
$ |
2,736 |
|
| Commercial mortgage loans |
|
1,163
|
|
|
2,817 |
|
| Total fair value |
|
6,810
|
|
|
5,553 |
|
| Aggregate UPB: |
|
|
|
|
| Residential mortgage loans |
|
6,143
|
|
|
2,136 |
|
| Commercial mortgage loans |
|
1,225
|
|
|
3,405 |
|
| Total aggregate UPB |
|
7,368
|
|
|
5,541 |
|
| Difference |
|
$ |
(558) |
|
|
$ |
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):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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For the three months ended June 30, 2023 |
|
For the six months ended June 30, 2023 |
|
For the three months ended June 30, 2022 |
|
For the six months ended June 30, 2022 |
| Beginning balance |
$ |
77,494
|
|
|
$ |
173,984
|
|
|
$ |
218,468 |
|
|
$ |
158,156 |
|
| Originations/purchases/repurchases |
46,042
|
|
|
125,328
|
|
|
415,964 |
|
|
846,770 |
|
| Proceeds from sales |
(65,554) |
|
|
(266,010) |
|
|
(336,103) |
|
|
(704,759) |
|
|
|
|
|
|
|
|
|
| Net transfers from loans held for investment |
—
|
|
|
15,580
|
|
|
— |
|
|
— |
|
| Net transfers from discontinued operations |
(105) |
|
|
12,525
|
|
|
(82) |
|
|
(82) |
|
| Gain (loss) on loans held for sale, net |
(3,854) |
|
|
(16,346) |
|
|
(12,911) |
|
|
(7,377) |
|
| Net fair value gain (loss) on loans held for sale |
(523) |
|
|
8,439
|
|
|
(3,665) |
|
|
(11,037) |
|
| Ending balance |
$ |
53,500
|
|
|
$ |
53,500
|
|
|
$ |
281,671
|
|
|
$ |
281,671
|
|
|