2021 Q1 Form 10-Q Financial Statement

#000110465921062802 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $169.9M $90.80M
YoY Change 87.11% -21.79%
Cost Of Revenue $42.20M $50.00M
YoY Change -15.6% 19.33%
Gross Profit $127.8M $40.80M
YoY Change 213.24% -45.09%
Gross Profit Margin 75.22% 44.93%
Selling, General & Admin $10.82M $11.05M
YoY Change -2.12% 13.23%
% of Gross Profit 8.46% 27.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.800M $1.900M
YoY Change -5.26% 0.0%
% of Gross Profit 1.41% 4.66%
Operating Expenses $56.27M $125.6M
YoY Change -55.21% 171.38%
Operating Profit $71.53M -$84.81M
YoY Change -184.34% -402.76%
Interest Expense $42.18M $49.98M
YoY Change -15.6% 19.39%
% of Operating Profit 58.97%
Other Income/Expense, Net
YoY Change
Pretax Income $93.60M -$82.70M
YoY Change -213.18% -375.67%
Income Tax $12.49M -$14.37M
% Of Pretax Income 13.35%
Net Earnings $81.11M -$68.36M
YoY Change -218.66% -327.81%
Net Earnings / Revenue 47.74% -75.28%
Basic Earnings Per Share $0.55 -$0.54
Diluted Earnings Per Share $0.55 -$0.54
COMMON SHARES
Basic Shares Outstanding 125.2M 110.8M
Diluted Shares Outstanding 144.0M 131.2M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $260.2M $222.3M
YoY Change 17.05% 78.55%
Cash & Equivalents $260.2M $222.3M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $19.70M $13.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $279.9M $236.1M
YoY Change 18.55% 86.64%
LONG-TERM ASSETS
Property, Plant & Equipment $1.400M $13.30M
YoY Change -89.47% -8.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $829.1M $619.6M
YoY Change 33.81% 8.0%
Other Assets $272.0M $304.1M
YoY Change -10.56% 4.18%
Total Long-Term Assets $7.851B $6.699B
YoY Change 17.2% 49.82%
TOTAL ASSETS
Total Short-Term Assets $279.9M $236.1M
Total Long-Term Assets $7.851B $6.699B
Total Assets $8.131B $6.935B
YoY Change 17.25% 50.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.600M $3.100M
YoY Change -48.39% 933.33%
LONG-TERM LIABILITIES
Long-Term Debt $6.183B $5.507B
YoY Change 12.27% 63.14%
Other Long-Term Liabilities $275.3M $198.1M
YoY Change 38.97% 37.28%
Total Long-Term Liabilities $6.459B $5.706B
YoY Change 13.2% 62.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.600M $3.100M
Total Long-Term Liabilities $6.459B $5.706B
Total Liabilities $6.460B $5.709B
YoY Change 13.17% 54.77%
SHAREHOLDERS EQUITY
Retained Earnings -$35.50M -$177.6M
YoY Change -80.01%
Common Stock $1.474B $1.164B
YoY Change 26.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.528B $1.076B
YoY Change
Total Liabilities & Shareholders Equity $8.131B $6.935B
YoY Change 17.25% 50.83%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $81.11M -$68.36M
YoY Change -218.66% -327.81%
Depreciation, Depletion And Amortization $1.800M $1.900M
YoY Change -5.26% 0.0%
Cash From Operating Activities $491.1M -$233.2M
YoY Change -310.56% -186.9%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$871.3M -$510.8M
YoY Change 70.58% 269.08%
Cash From Investing Activities -$871.3M -$510.8M
YoY Change 70.59% 269.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $158.4M -$8.133M
YoY Change -2048.03%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 375.5M 759.8M
YoY Change -50.59% -1499.54%
NET CHANGE
Cash From Operating Activities 491.1M -233.2M
Cash From Investing Activities -871.3M -510.8M
Cash From Financing Activities 375.5M 759.8M
Net Change In Cash -4.731M 15.84M
YoY Change -129.88% -79.08%
FREE CASH FLOW
Cash From Operating Activities $491.1M -$233.2M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2020Q1 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
11822000
CY2021Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
1412722000
CY2020Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
1088699000
CY2021Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
1841891000
CY2020Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
957060000
CY2021Q1 abr Originated Mortgage Servicing Rights Revenue
OriginatedMortgageServicingRightsRevenue
36936000
CY2020Q1 abr Originated Mortgage Servicing Rights Revenue
OriginatedMortgageServicingRightsRevenue
21934000
CY2021Q1 abr Write Off Of Capitalized Mortgage Servicing Rights From Payoffs
WriteOffOfCapitalizedMortgageServicingRightsFromPayoffs
3828000
CY2020Q1 abr Write Off Of Capitalized Mortgage Servicing Rights From Payoffs
WriteOffOfCapitalizedMortgageServicingRightsFromPayoffs
5920000
CY2021Q1 us-gaap Allowance For Loan And Lease Losses Writeoffs Net
AllowanceForLoanAndLeaseLossesWriteoffsNet
-1075000
CY2020Q1 us-gaap Allowance For Loan And Lease Losses Writeoffs Net
AllowanceForLoanAndLeaseLossesWriteoffsNet
54382000
CY2021Q1 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
1652000
CY2020Q1 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
21537000
CY2021Q1 abr Loss Contingency Accrual Charge Offs Net
LossContingencyAccrualChargeOffsNet
62000
CY2020Q1 abr Loss Contingency Accrual Charge Offs Net
LossContingencyAccrualChargeOffsNet
-160000
CY2021Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
4486000
CY2020Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-19904000
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
22251000
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3992000
CY2021Q1 abr Distributions From Equity Affiliates
DistributionsFromEquityAffiliates
13164000
CY2020Q1 abr Distributions From Equity Affiliates
DistributionsFromEquityAffiliates
1151000
CY2021Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1370000
CY2020Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1954000
CY2021Q1 us-gaap Proceeds From Collection Of Loans Held For Sale
ProceedsFromCollectionOfLoansHeldForSale
2316000
CY2021Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
4898000
CY2020Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
91433000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
491090000
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-233235000
CY2021Q1 abr Payment For Loans And Investments Funded Originated And Purchased Net
PaymentForLoansAndInvestmentsFundedOriginatedAndPurchasedNet
1055354000
CY2020Q1 abr Payment For Loans And Investments Funded Originated And Purchased Net
PaymentForLoansAndInvestmentsFundedOriginatedAndPurchasedNet
815501000
CY2021Q1 abr Proceeds From Payoffs And Paydowns Of Loans And Investments
ProceedsFromPayoffsAndPaydownsOfLoansAndInvestments
234711000
CY2020Q1 abr Proceeds From Payoffs And Paydowns Of Loans And Investments
ProceedsFromPayoffsAndPaydownsOfLoansAndInvestments
298701000
CY2021Q1 abr Increase Decrease In Customer Liability Deferred Revenue
IncreaseDecreaseInCustomerLiabilityDeferredRevenue
9190000
CY2020Q1 abr Increase Decrease In Customer Liability Deferred Revenue
IncreaseDecreaseInCustomerLiabilityDeferredRevenue
4857000
CY2020Q1 us-gaap Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
230000
CY2021Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
21045000
CY2020Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
60000
CY2021Q1 abr Proceeds From Payoffs And Paydowns Of Securities Held To Maturity
ProceedsFromPayoffsAndPaydownsOfSecuritiesHeldToMaturity
3380000
CY2020Q1 abr Proceeds From Payoffs And Paydowns Of Securities Held To Maturity
ProceedsFromPayoffsAndPaydownsOfSecuritiesHeldToMaturity
3313000
CY2021Q1 abr Due To Due From Borrowers And Reserves
DueToDueFromBorrowersAndReserves
42154000
CY2020Q1 abr Due To Due From Borrowers And Reserves
DueToDueFromBorrowersAndReserves
1834000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-871272000
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-510754000
CY2021Q1 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
3685968000
CY2020Q1 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
2229200000
CY2021Q1 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
3704382000
CY2020Q1 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
2058588000
CY2021Q1 abr Proceeds From Issuance Of Collateralized Loan Obligations
ProceedsFromIssuanceOfCollateralizedLoanObligations
655475000
CY2020Q1 abr Proceeds From Issuance Of Collateralized Loan Obligations
ProceedsFromIssuanceOfCollateralizedLoanObligations
668000000
CY2021Q1 abr Repayment Of Secured Loan Obligations
RepaymentOfSecuredLoanObligations
356149000
CY2020Q1 abr Repayment Of Secured Loan Obligations
RepaymentOfSecuredLoanObligations
282874000
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
158433000
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
19424000
CY2020Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
21516000
CY2020Q1 us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
275000000
CY2020Q1 abr Payments Of Redemption Of Operating Partnership Units
PaymentsOfRedemptionOfOperatingPartnershipUnits
1600000
CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5647000
CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1630000
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
11291000
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
49219000
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
41251000
CY2021Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
9028000
CY2020Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
13050000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
375451000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
759824000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4731000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
15835000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
536998000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
510562000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
532267000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
526397000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
339528000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
299687000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
197470000
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
210875000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
536998000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
510562000
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
260228000
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
222330000
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
272039000
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
304067000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
532267000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
526397000
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
36311000
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
42666000
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
548000
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1681000
CY2021Q1 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
65204000
CY2020Q1 abr Stockholders Equity Including Portions Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionsAttributableToNoncontrollingInterest
-28607000
CY2020Q1 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
4595000
CY2020Q1 abr Debt Instrument Convertible Extinguished
DebtInstrumentConvertibleExtinguished
4778000
CY2021Q1 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
185000
CY2020Q1 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
183000
CY2021Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that could materially affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Beginning early 2020, there has been a global outbreak of COVID-19, which has forced many countries, including the United States, to declare national emergencies, to institute “stay-at-home” orders, to close financial markets and to restrict operations of non-essential businesses. Such actions have created significant disruptions in global supply chains, and adversely impacted many industries. COVID-19 could have a continued and prolonged adverse impact on economic and market conditions, which could continue a period of global economic slowdown. The impact of COVID-19 on companies continues to evolve, and the extent and duration of the economic fallout from this pandemic, both globally and to our business, remain unclear, making any estimate or assumption as of March 31, 2021 inherently less certain than they would be absent the current and potential impacts of COVID-19.</p>
CY2021Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
6263431000
CY2021Q1 abr Mortgage Loans On Real Estate Percentage
MortgageLoansOnRealEstatePercentage
1
CY2021Q1 srt Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
347
CY2021Q1 srt Mortgage Loans On Real Estate Interest Rate
MortgageLoansOnRealEstateInterestRate
0.0506
CY2021Q1 abr Mortgage Loans On Real Estate Remaining Maturity Period
MortgageLoansOnRealEstateRemainingMaturityPeriod
P17M24D
CY2021Q1 abr First Dollar Ltv Ratio
FirstDollarLTVRatio
0.03
CY2021Q1 abr Last Dollar Ltv Ratio
LastDollarLTVRatio
0.76
CY2021Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
147300000
CY2021Q1 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
45794000
CY2021Q1 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
6070337000
CY2020Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
5475082000
CY2020Q4 abr Mortgage Loans On Real Estate Percentage
MortgageLoansOnRealEstatePercentage
1
CY2020 srt Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
328
CY2020 srt Mortgage Loans On Real Estate Interest Rate
MortgageLoansOnRealEstateInterestRate
0.0523
CY2020 abr Mortgage Loans On Real Estate Remaining Maturity Period
MortgageLoansOnRealEstateRemainingMaturityPeriod
P19M6D
CY2020Q4 abr First Dollar Ltv Ratio
FirstDollarLTVRatio
0.04
CY2020Q4 abr Last Dollar Ltv Ratio
LastDollarLTVRatio
0.77
CY2020Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
148329000
CY2020Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
40885000
CY2020Q4 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
5285868000
CY2020Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
148329000
CY2021Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
-1029000
CY2021Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
147300000
CY2021Q1 abr Loans And Investments Unfunded Commitments
LoansAndInvestmentsUnfundedCommitments
443100000
CY2020Q4 abr Loans And Investments Unfunded Commitments
LoansAndInvestmentsUnfundedCommitments
353800000
CY2021Q1 us-gaap Financing Receivable Accrued Interest Before Allowance For Credit Loss
FinancingReceivableAccruedInterestBeforeAllowanceForCreditLoss
49500000
CY2020Q4 us-gaap Financing Receivable Accrued Interest Before Allowance For Credit Loss
FinancingReceivableAccruedInterestBeforeAllowanceForCreditLoss
41600000
CY2021Q1 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
282761000
CY2021Q1 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
254808000
CY2021Q1 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
106256000
CY2021Q1 abr Impaired Financing Receivable First Dollar Ltv Ratio
ImpairedFinancingReceivableFirstDollarLtvRatio
1
CY2021Q1 abr Impaired Financing Receivable Last Dollar Ltv Ratio
ImpairedFinancingReceivableLastDollarLtvRatio
94
CY2020Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
282785000
CY2020Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
254938000
CY2020Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
106265000
CY2020 abr Impaired Financing Receivable First Dollar Ltv Ratio
ImpairedFinancingReceivableFirstDollarLtvRatio
1
CY2020 abr Impaired Financing Receivable Last Dollar Ltv Ratio
ImpairedFinancingReceivableLastDollarLtvRatio
94
CY2021Q1 abr Number Of Impaired Loans By Asset Class
NumberOfImpairedLoansByAssetClass
10
CY2020Q4 abr Number Of Impaired Loans By Asset Class
NumberOfImpairedLoansByAssetClass
10
CY2021Q1 abr Number Of Loan For Which No Provision For Loan Loss Made
NumberOfLoanForWhichNoProvisionForLoanLossMade
0
CY2020Q4 abr Number Of Loan For Which No Provision For Loan Loss Made
NumberOfLoanForWhichNoProvisionForLoanLossMade
0
CY2021Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
2
CY2021Q1 abr Financing Receivable Modifications Refinancing And Or Extensions Made Considered Trouble Debt Restructuring Number Of Loans
FinancingReceivableModificationsRefinancingAndOrExtensionsMadeConsideredTroubleDebtRestructuringNumberOfLoans
0
CY2021Q1 abr Interest Reserve
InterestReserve
82900000
CY2020 abr Interest Reserve
InterestReserve
78300000
CY2021Q1 abr Interest Reserve Number Of Loans
InterestReserveNumberOfLoans
218
CY2020Q4 abr Interest Reserve Number Of Loans
InterestReserveNumberOfLoans
186
CY2021Q1 abr Interest Reserve Unpaid Principal Balance
InterestReserveUnpaidPrincipalBalance
4140000000
CY2020Q4 abr Interest Reserve Unpaid Principal Balance
InterestReserveUnpaidPrincipalBalance
3600000000
CY2021Q1 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
602325000
CY2020Q4 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
968595000
CY2021Q1 abr Fair Value Of Future Mortgage Servicing Rights
FairValueOfFutureMortgageServicingRights
14026000
CY2020Q4 abr Fair Value Of Future Mortgage Servicing Rights
FairValueOfFutureMortgageServicingRights
21600000
CY2021Q1 abr Loans Receivable Held For Sale Unearned Discount
LoansReceivableHeldForSaleUnearnedDiscount
2809000
CY2020Q4 abr Loans Receivable Held For Sale Unearned Discount
LoansReceivableHeldForSaleUnearnedDiscount
3276000
CY2021Q1 us-gaap Loans Receivable Held For Sale Amount
LoansReceivableHeldForSaleAmount
613542000
CY2020Q4 us-gaap Loans Receivable Held For Sale Amount
LoansReceivableHeldForSaleAmount
986919000
CY2021Q1 abr Proceeds From Sale Of Loans Held For Sale Excluding Acquisition
ProceedsFromSaleOfLoansHeldForSaleExcludingAcquisition
1840000000
CY2020 abr Proceeds From Sale Of Loans Held For Sale Excluding Acquisition
ProceedsFromSaleOfLoansHeldForSaleExcludingAcquisition
957100000
CY2021Q1 abr Gain Loss On Sale Of Loans Receivable Held For Sale
GainLossOnSaleOfLoansReceivableHeldForSale
27000000.0
CY2020 abr Gain Loss On Sale Of Loans Receivable Held For Sale
GainLossOnSaleOfLoansReceivableHeldForSale
13200000
CY2021Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
0
CY2021Q1 abr Held To Maturity Securities Face Value
HeldToMaturitySecuritiesFaceValue
135893000
CY2021Q1 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
92860000
CY2021Q1 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
9596000
CY2021Q1 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
102456000
CY2021Q1 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
1597000
CY2020Q4 abr Held To Maturity Securities Face Value
HeldToMaturitySecuritiesFaceValue
140124000
CY2020Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
95524000
CY2020Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
1396000
CY2020Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
94128000
CY2020Q4 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
1644000
CY2020Q4 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
1644000
CY2021Q1 us-gaap Debt Securities Held To Maturity Credit Loss Expense Reversal
DebtSecuritiesHeldToMaturityCreditLossExpenseReversal
-47000
CY2021Q1 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
1597000
CY2021Q1 us-gaap Other Than Temporary Impairment Losses Investments Heldtomaturity Securities
OtherThanTemporaryImpairmentLossesInvestmentsHeldtomaturitySecurities
0
CY2021Q1 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
104406000
CY2019Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
74274000
CY2021Q1 abr Affiliates Debt Instrument Principal Outstanding
AffiliatesDebtInstrumentPrincipalOutstanding
78262000
CY2020Q4 abr Guarantee Obligations Included In Allowance For Loss Sharing Obligations
GuaranteeObligationsIncludedInAllowanceForLossSharingObligations
32400000
CY2021Q1 abr Collateral Carrying Value
CollateralCarryingValue
2920291000
CY2021Q1 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0235
CY2020Q4 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowings
2234883000
CY2020Q4 abr Collateral Carrying Value
CollateralCarryingValue
2724420000
CY2021Q2 us-gaap Line Of Credit Facility Increase Decrease For Period Net
LineOfCreditFacilityIncreaseDecreaseForPeriodNet
500000000.0
CY2021Q1 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowings
2214896000
CY2021Q1 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Note 11 — Allowance for Loss-Sharing Obligations</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Our allowance for loss-sharing obligations related to the Fannie Mae DUS program is as follows (in thousands):</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:73.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:73.76%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:middle;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td colspan="5" style="vertical-align:middle;white-space:nowrap;width:23.75%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Three Months Ended March 31, </b></p></td><td style="vertical-align:middle;white-space:nowrap;width:0.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:73.76%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:middle;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:10.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2021</b></p></td><td style="vertical-align:middle;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:10.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2020</b></p></td><td style="vertical-align:middle;white-space:nowrap;width:0.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:73.76%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Beginning balance</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 64,303</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 34,648</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:0.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:73.76%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Impact of adopting CECL - January 1, 2020</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;">—</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 14,406</p></td><td style="vertical-align:bottom;white-space:nowrap;width:0.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:73.76%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Provisions for loss sharing </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 1,748</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 21,896</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:0.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:73.76%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Provisions reversal for loan repayments</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"> (96)</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"> (358)</p></td><td style="vertical-align:bottom;width:0.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-family:'Arial','Helvetica','sans-serif';visibility:hidden;">​</span></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:73.76%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Recoveries (charge-offs), net</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"> (62)</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 160</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:0.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:73.76%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Ending balance</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 65,893</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 70,752</p></td><td style="vertical-align:bottom;white-space:nowrap;width:0.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">When a loan is sold under the Fannie Mae DUS program, we undertake an obligation to partially guarantee the performance of the loan. A liability is recognized for the fair value of the guarantee obligation undertaken for the non-contingent aspect of the guarantee and is removed only upon either the expiration or settlement of the guarantee. At March 31, 2021 and 2020, guarantee obligations of $34.4 million and $32.4 million, respectively, were included in the allowance for loss-sharing obligations.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">In addition to and separately from the fair value of the guarantee, we estimate our allowance for loss-sharing under CECL over the contractual period in which we are exposed to credit risk. The current expected loss related to loss-sharing was based on a collective pooling basis with similar risk characteristics, a reasonable and supportable forecast and a reversion period based on our average historical losses through the remaining contractual term of the portfolio.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">When we settle a loss under the DUS loss-sharing model, the net loss is charged-off against the previously recorded loss-sharing obligation. The settled loss is often net of any previously advanced principal and interest payments in accordance with the DUS program, which are reflected as reductions to the proceeds needed to settle losses. At March 31, 2021 and December 31, 2020, we had outstanding advances of $0.2 million and $0.1 million, respectively, which were netted against the allowance for loss-sharing obligations. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">At March 31, 2021 and December 31, 2020, our allowance for loss-sharing obligations, associated with expected losses under CECL, was $31.5 million and $30.3 million, respectively, and represented 0.16% and 0.17%, respectively, of the Fannie Mae servicing portfolio.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">At March 31, 2021 and December 31, 2020, the maximum quantifiable liability associated with our guarantees under the Fannie Mae DUS agreement was $3.58 billion and $3.41 billion, respectively. The maximum quantifiable liability is not representative of the actual loss we would incur. We would be liable for this amount only if all of the loans we service for Fannie Mae, for which we retain some risk of loss, were to default and all of the collateral underlying these loans was determined to be without value at the time of settlement.</p>
CY2021Q1 abr Guarantee Obligations Included In Allowance For Loss Sharing Obligations
GuaranteeObligationsIncludedInAllowanceForLossSharingObligations
34400000
CY2021Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
-8700000
CY2020Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
8200000
CY2021Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
6263431000
CY2020Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
5475082000
CY2021Q1 abr Loans Held For Sale Receivable Gross Commercial Real Estate
LoansHeldForSaleReceivableGrossCommercialRealEstate
602325000
CY2020Q4 abr Loans Held For Sale Receivable Gross Commercial Real Estate
LoansHeldForSaleReceivableGrossCommercialRealEstate
968595000
CY2021Q1 abr Held To Maturity Securities Notional Amount
HeldToMaturitySecuritiesNotionalAmount
135893000
CY2020Q4 abr Held To Maturity Securities Notional Amount
HeldToMaturitySecuritiesNotionalAmount
140124000
CY2021Q1 us-gaap Derivative Asset Notional Amount
DerivativeAssetNotionalAmount
139218000
CY2020Q4 us-gaap Derivative Asset Notional Amount
DerivativeAssetNotionalAmount
865975000
CY2021Q1 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings Principal Amount
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowingsPrincipalAmount
2220307000
CY2020Q4 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings Principal Amount
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowingsPrincipalAmount
2238722000
CY2021Q1 us-gaap Derivative Liability Notional Amount
DerivativeLiabilityNotionalAmount
524089000
CY2020Q4 us-gaap Derivative Liability Notional Amount
DerivativeLiabilityNotionalAmount
319142000
CY2021Q1 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
106300000
CY2021Q1 abr Impaired Financing Receivable With Related Allowance Number Of Loans
ImpairedFinancingReceivableWithRelatedAllowanceNumberOfLoans
10
CY2021Q1 abr Impaired Financing Receivables Carrying Amount
ImpairedFinancingReceivablesCarryingAmount
254800000
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1967000
CY2019Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1066000
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
37026000
CY2020Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
11717000
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
35059000
CY2020Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
10651000
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
1439000
CY2020Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
2069000
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1439000
CY2020Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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