2021 Q4 Form 10-K Financial Statement

#000110465922024981 Filed on February 18, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $247.9M $799.2M $204.5M
YoY Change 21.23% 32.39% 41.62%
Cost Of Revenue $67.88M $212.0M $40.00M
YoY Change 69.71% 25.3% -17.01%
Gross Profit $180.0M $587.2M $164.4M
YoY Change 9.51% 35.15% 70.89%
Gross Profit Margin 72.62% 73.47% 80.39%
Selling, General & Admin $55.31M $45.58M $51.20M
YoY Change 8.04% 22.03% 27.36%
% of Gross Profit 30.72% 7.76% 31.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.866M $7.215M $1.800M
YoY Change 3.67% -5.07% 0.0%
% of Gross Profit 1.04% 1.23% 1.09%
Operating Expenses $43.66M $198.0M $46.20M
YoY Change -5.5% -26.71% 10.79%
Operating Profit $136.4M $424.1M $118.2M
YoY Change 15.37% 79.28% 116.88%
Interest Expense $2.472M $212.0M $19.40M
YoY Change -87.26% 25.29% 1193.33%
% of Operating Profit 1.81% 49.99% 16.41%
Other Income/Expense, Net
YoY Change
Pretax Income $139.3M $424.1M $137.6M
YoY Change 1.24% 79.24% 182.55%
Income Tax $12.93M $46.29M $24.90M
% Of Pretax Income 9.28% 10.91% 18.1%
Net Earnings $114.7M $377.8M $98.50M
YoY Change 16.42% 92.6% 163.37%
Net Earnings / Revenue 46.26% 47.27% 48.17%
Basic Earnings Per Share $2.30
Diluted Earnings Per Share $689.6K $2.28 $710.2K
COMMON SHARES
Basic Shares Outstanding 143.0M 137.8M 116.1M
Diluted Shares Outstanding 156.1M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $404.6M $404.6M $339.5M
YoY Change 19.17% 19.17% 13.28%
Cash & Equivalents $404.6M $404.6M $339.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $84.32M $84.32M $12.40M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $488.9M $488.9M $351.9M
YoY Change 38.93% 38.93% 13.37%
LONG-TERM ASSETS
Property, Plant & Equipment $1.500M
YoY Change -88.64%
Goodwill $56.60M $56.60M
YoY Change 0.0% 0.0%
Intangibles $44.13M $48.83M
YoY Change -9.61% -9.71%
Long-Term Investments $808.4M $808.4M $774.7M
YoY Change 4.35% 4.35% 29.55%
Other Assets $486.7M $486.7M $197.5M
YoY Change 146.43% 146.43% -6.35%
Total Long-Term Assets $14.58B $14.58B $7.309B
YoY Change 99.55% 99.55% 23.28%
TOTAL ASSETS
Total Short-Term Assets $488.9M $488.9M $351.9M
Total Long-Term Assets $14.58B $14.58B $7.309B
Total Assets $15.07B $15.07B $7.661B
YoY Change 96.76% 96.76% 22.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.57M $26.57M $2.400M
YoY Change 1007.08% 1007.08% -81.68%
LONG-TERM LIABILITIES
Long-Term Debt $12.15B $12.15B $5.914B
YoY Change 105.5% 105.5% 25.8%
Other Long-Term Liabilities $343.9M $343.9M $261.9M
YoY Change 31.33% 31.33% 55.06%
Total Long-Term Liabilities $12.50B $12.50B $6.176B
YoY Change 102.36% 102.36% 26.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.57M $26.57M $2.400M
Total Long-Term Liabilities $12.50B $12.50B $6.176B
Total Liabilities $12.52B $12.66B $6.178B
YoY Change 102.71% 100.36% 26.52%
SHAREHOLDERS EQUITY
Retained Earnings $62.53M -$63.44M
YoY Change -198.57% 4.14%
Common Stock $1.799B $1.318B
YoY Change 36.49% 14.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.418B $2.418B $1.344B
YoY Change
Total Liabilities & Shareholders Equity $15.07B $15.07B $7.661B
YoY Change 96.76% 96.76% 22.79%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $114.7M $377.8M $98.50M
YoY Change 16.42% 92.6% 163.37%
Depreciation, Depletion And Amortization $1.866M $7.215M $1.800M
YoY Change 3.67% -5.07% 0.0%
Cash From Operating Activities $217.2M $216.8M -$248.5M
YoY Change -187.42% 293.09% -12.41%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$2.994B -$6.750B -$344.9M
YoY Change 768.12% 483.63% 10.47%
Cash From Investing Activities -$2.994B -$6.750B -$344.9M
YoY Change 768.12% 483.62% 10.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$480.2M
YoY Change 196.31%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.717B 6.888B 828.0M
YoY Change 228.2% 510.67% 5.99%
NET CHANGE
Cash From Operating Activities 217.2M 216.8M -248.5M
Cash From Investing Activities -2.994B -6.750B -344.9M
Cash From Financing Activities 2.717B 6.888B 828.0M
Net Change In Cash -59.39M 354.3M 234.6M
YoY Change -125.31% 1240.11% 26.61%
FREE CASH FLOW
Cash From Operating Activities $217.2M $216.8M -$248.5M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2019 us-gaap Income Taxes Paid Net
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10079000
CY2019 abr Issuance Of Common Stock From Redemption Of Operating Partnership Units
IssuanceOfCommonStockFromRedemptionOfOperatingPartnershipUnits
2939000
CY2019 abr Issuance Of Special Dividend Special Voting Preferred Stock And Operating Partnership Units Issued
IssuanceOfSpecialDividendSpecialVotingPreferredStockAndOperatingPartnershipUnitsIssued
2478000
CY2020 abr Interest Reserve
InterestReserve
78300000
CY2021 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 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;line-height:1.19;text-indent:18pt;margin:0pt 0pt 12pt 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 in early 2020, there has been a global outbreak of COVID-19, which had 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 has had, and may continue to 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 December 31, 2021 inherently less certain than they would be absent the current and potential impacts of COVID-19.</p>
CY2021 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Reclassification</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements. Our real estate owned assets previously recorded to real estate owned, net on our consolidated balance sheets is now recorded in other assets for all periods presented.</p>
CY2020Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
106265000
CY2021 abr Period Of Debt Instrument Past Due Becomes Delinquent
PeriodOfDebtInstrumentPastDueBecomesDelinquent
P60D
CY2021Q2 abr Loans And Leases Receivable Allowance Reversal
LoansAndLeasesReceivableAllowanceReversal
7500000
CY2021Q2 us-gaap Interest And Fee Income Loans Real Estate Construction
InterestAndFeeIncomeLoansRealEstateConstruction
3500000
CY2021 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
2
CY2020 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
0
CY2021 abr Interest Reserve
InterestReserve
87400000
CY2021 abr Purchase Price Allocation Valuation Period Following Real Estate Property Acquisition
PurchasePriceAllocationValuationPeriodFollowingRealEstatePropertyAcquisition
P1Y
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
CY2020 abr Impaired Financing Receivable First Dollar Ltv Ratio
ImpairedFinancingReceivableFirstDollarLtvRatio
1
CY2020 abr Impaired Financing Receivable Last Dollar Ltv Ratio
ImpairedFinancingReceivableLastDollarLtvRatio
94
CY2021Q4 abr Number Of Impaired Loans By Asset Class
NumberOfImpairedLoansByAssetClass
8
CY2020Q4 abr Number Of Impaired Loans By Asset Class
NumberOfImpairedLoansByAssetClass
10
CY2021Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
12158995000
CY2021Q4 abr Mortgage Loans On Real Estate Percentage
MortgageLoansOnRealEstatePercentage
1
CY2021 srt Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
580
CY2021 srt Mortgage Loans On Real Estate Interest Rate
MortgageLoansOnRealEstateInterestRate
0.0426
CY2021 abr Mortgage Loans On Real Estate Remaining Maturity Period
MortgageLoansOnRealEstateRemainingMaturityPeriod
P24M18D
CY2021Q4 abr First Dollar Ltv Ratio
FirstDollarLTVRatio
0.01
CY2021Q4 abr Last Dollar Ltv Ratio
LastDollarLTVRatio
0.76
CY2021Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
113241000
CY2021Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
64706000
CY2021Q4 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
11981048000
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 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
5285868000
CY2021 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
-24315000
CY2021Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
113241000
CY2019Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
71069000
CY2020 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
59966000
CY2020Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
148329000
CY2019Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
71069000
CY2021Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
159940000
CY2021Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
148839000
CY2021Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
86886000
CY2021 abr Impaired Financing Receivable First Dollar Ltv Ratio
ImpairedFinancingReceivableFirstDollarLtvRatio
3
CY2021 abr Impaired Financing Receivable Last Dollar Ltv Ratio
ImpairedFinancingReceivableLastDollarLtvRatio
89
CY2020Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
282785000
CY2020Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
254938000
CY2019Q4 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
CY2021Q4 abr Number Of Loan For Which No Provision For Loan Loss Made
NumberOfLoanForWhichNoProvisionForLoanLossMade
0
CY2021Q2 abr Proceeds From Loans And Investments Funded Originated And Purchased
ProceedsFromLoansAndInvestmentsFundedOriginatedAndPurchased
95000000.0
CY2021Q4 abr Interest Reserve Number Of Loans
InterestReserveNumberOfLoans
328
CY2020Q4 abr Interest Reserve Number Of Loans
InterestReserveNumberOfLoans
186
CY2021Q4 abr Interest Reserve Unpaid Principal Balance
InterestReserveUnpaidPrincipalBalance
5750000000
CY2020Q4 abr Interest Reserve Unpaid Principal Balance
InterestReserveUnpaidPrincipalBalance
3600000000
CY2020Q4 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
1644000
CY2021Q4 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
1077239000
CY2020Q4 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
968595000
CY2021Q4 abr Fair Value Of Future Mortgage Servicing Rights
FairValueOfFutureMortgageServicingRights
19318000
CY2020Q4 abr Fair Value Of Future Mortgage Servicing Rights
FairValueOfFutureMortgageServicingRights
21600000
CY2021Q4 abr Loans Receivable Held For Sale Unearned Discount
LoansReceivableHeldForSaleUnearnedDiscount
2948000
CY2020Q4 abr Loans Receivable Held For Sale Unearned Discount
LoansReceivableHeldForSaleUnearnedDiscount
3276000
CY2021Q4 us-gaap Loans Receivable Held For Sale Amount
LoansReceivableHeldForSaleAmount
1093609000
CY2020Q4 us-gaap Loans Receivable Held For Sale Amount
LoansReceivableHeldForSaleAmount
986919000
CY2021 abr Proceeds From Sale Of Loans Held For Sale Excluding Acquisition
ProceedsFromSaleOfLoansHeldForSaleExcludingAcquisition
6420000000
CY2020 abr Proceeds From Sale Of Loans Held For Sale Excluding Acquisition
ProceedsFromSaleOfLoansHeldForSaleExcludingAcquisition
6590000000
CY2021Q4 abr Impaired Financing Receivable With Related Allowance Number Of Loans
ImpairedFinancingReceivableWithRelatedAllowanceNumberOfLoans
8
CY2019 abr Proceeds From Sale Of Loans Held For Sale Excluding Acquisition
ProceedsFromSaleOfLoansHeldForSaleExcludingAcquisition
4400000000
CY2021 abr Gain Loss On Sale Of Loans Receivable Held For Sale
GainLossOnSaleOfLoansReceivableHeldForSale
123000000.0
CY2020 abr Gain Loss On Sale Of Loans Receivable Held For Sale
GainLossOnSaleOfLoansReceivableHeldForSale
94600000
CY2019 abr Gain Loss On Sale Of Loans Receivable Held For Sale
GainLossOnSaleOfLoansReceivableHeldForSale
65700000
CY2021Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
0
CY2021 abr Interest Income Net
InterestIncomeNet
4200000
CY2020 abr Interest Income Net
InterestIncomeNet
7100000
CY2019 abr Interest Income Net
InterestIncomeNet
17300000
CY2021Q4 abr Held To Maturity Securities Face Value
HeldToMaturitySecuritiesFaceValue
210728000
CY2021Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
140484000
CY2021Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
9427000
CY2021Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
149911000
CY2021Q4 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
1753000
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
CY2021 us-gaap Debt Securities Held To Maturity Credit Loss Expense Reversal
DebtSecuritiesHeldToMaturityCreditLossExpenseReversal
109000
CY2021Q4 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
1753000
CY2021Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
89676000
CY2020Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
74274000
CY2021Q4 abr Affiliates Debt Instrument Principal Outstanding
AffiliatesDebtInstrumentPrincipalOutstanding
1687000
CY2021 abr Equity Method Indirect Ownership Percentage
EquityMethodIndirectOwnershipPercentage
0.092
CY2020Q4 us-gaap Goodwill
Goodwill
56600000
CY2021Q4 us-gaap Goodwill
Goodwill
56600000
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
72410000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
28276000
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
44134000
CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
72410000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
23585000
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
48825000
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4700000
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5300000
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5500000
CY2021Q4 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings Principal Amount
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowingsPrincipalAmount
4493699000
CY2021Q4 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowings
4481579000
CY2021Q4 abr Collateral Carrying Value
CollateralCarryingValue
5585460000
CY2021Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0221
CY2020Q4 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings Principal Amount
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowingsPrincipalAmount
2238722000
CY2020Q4 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowings
2234883000
CY2020Q4 abr Collateral Carrying Value
CollateralCarryingValue
2724420000
CY2020Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0220
CY2021 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 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;line-height:1.19;text-indent:18pt;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:12pt;line-height:1.19;text-indent:18pt;margin:0pt;"><span style="font-size:10pt;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:80.29%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:73.77%;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:12pt;line-height:1.19;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:12pt;line-height:1.19;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;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:12pt;line-height:1.19;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:12pt;line-height:1.19;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:12pt;line-height:1.19;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;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:12pt;line-height:1.19;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:12pt;line-height:1.19;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:12pt;line-height:1.19;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:73.77%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;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:12pt;line-height:1.19;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:23.74%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-weight:bold;">Year Ended December 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:12pt;line-height:1.19;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:73.77%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;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;line-height:1.19;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;line-height:1.19;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;line-height:1.19;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;line-height:1.19;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:12pt;line-height:1.19;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:73.77%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;">Beginning balance</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 64,303</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 34,648</p></td><td style="vertical-align:bottom;white-space:nowrap;width:0.13%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:73.77%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;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:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;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;line-height:1.19;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:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;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;line-height:1.19;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:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:73.77%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;">Provisions for loss sharing </p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 44</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 16,379</p></td><td style="vertical-align:bottom;white-space:nowrap;width:0.13%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:73.77%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;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:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;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;line-height:1.19;text-align:right;margin:0pt;"> (6,211)</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:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;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;line-height:1.19;text-align:right;margin:0pt;"> (1,557)</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:12pt;line-height:1.19;margin:0pt;"><span style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:73.77%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;">Recoveries (charge-offs), net</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"> (2,072)</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 427</p></td><td style="vertical-align:bottom;white-space:nowrap;width:0.13%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:73.77%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;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:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 56,064</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;">$</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;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 64,303</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:12pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-indent:36pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:18pt;margin:0pt 0pt 12pt 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 December 31, 2021 and 2020, guarantee obligations of $34.4 million and $34.0 million, respectively, were included in the allowance for loss-sharing obligations.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:18pt;margin:0pt 0pt 12pt 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;line-height:1.19;text-indent:18pt;margin:0pt 0pt 12pt 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 December 31, 2021 and 2020, we had outstanding advances of less than $0.1 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;line-height:1.19;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">At December 31, 2021 and 2020, our allowance for loss-sharing obligations, associated with expected losses under CECL, was $21.7 million and $30.3 million, respectively, and represented 0.11% and 0.17%, respectively, of the Fannie Mae servicing portfolio.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:18pt;margin:0pt;">At December 31, 2021 and 2020, the maximum quantifiable liability associated with our guarantees under the Fannie Mae DUS agreement was $3.60 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>
CY2021Q4 abr Impaired Financing Receivables Carrying Amount
ImpairedFinancingReceivablesCarryingAmount
148800000
CY2021Q4 abr Guarantee Obligations Included In Allowance For Loss Sharing Obligations
GuaranteeObligationsIncludedInAllowanceForLossSharingObligations
34400000
CY2020Q4 abr Guarantee Obligations Included In Allowance For Loss Sharing Obligations
GuaranteeObligationsIncludedInAllowanceForLossSharingObligations
34000000.0
CY2021 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
800000
CY2020 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
3400000
CY2019 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
-7800000
CY2021 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
100000
CY2021 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
1500000
CY2021Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
12158995000
CY2020Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
5475082000
CY2021Q4 abr Loans Held For Sale Receivable Gross Commercial Real Estate
LoansHeldForSaleReceivableGrossCommercialRealEstate
1077239000
CY2020Q4 abr Loans Held For Sale Receivable Gross Commercial Real Estate
LoansHeldForSaleReceivableGrossCommercialRealEstate
968595000
CY2021Q4 abr Held To Maturity Securities Notional Amount
HeldToMaturitySecuritiesNotionalAmount
210728000
CY2020Q4 abr Held To Maturity Securities Notional Amount
HeldToMaturitySecuritiesNotionalAmount
140124000
CY2021Q4 us-gaap Derivative Asset Notional Amount
DerivativeAssetNotionalAmount
280654000
CY2020Q4 us-gaap Derivative Asset Notional Amount
DerivativeAssetNotionalAmount
865975000
CY2021Q4 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings Principal Amount
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowingsPrincipalAmount
4493699000
CY2020Q4 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings Principal Amount
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowingsPrincipalAmount
2238722000
CY2021Q4 us-gaap Derivative Liability Notional Amount
DerivativeLiabilityNotionalAmount
301816000
CY2020Q4 us-gaap Derivative Liability Notional Amount
DerivativeLiabilityNotionalAmount
319142000
CY2021Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
86900000
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
CY2018Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
324000
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
112836000
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
164654000
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
83992000
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
110869000
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
163588000
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
83668000
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
295000
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
1967000
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
1066000
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
295000
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
CY2021 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
MortgageServicingRightsMSRImpairmentRecovery
-19681000
CY2021 abr Derivative Fair Value Adjustment
DerivativeFairValueAdjustment
19681000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
3360731000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
8342000
CY2021Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
3369073000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1886918000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
8067000
CY2021Q4 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
1894985000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
2925345000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
7929000
CY2021Q4 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
2933274000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1109257000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7978000
CY2021Q4 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
1117235000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
2210054000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
8282000
CY2021Q4 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
2218336000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
640185000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
26098000
CY2021Q4 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
666283000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
12132490000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
66696000
CY2021Q4 us-gaap Contractual Obligation
ContractualObligation
12199186000
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y2M12D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.049
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
9300000
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
6200000
CY2019 us-gaap Operating Lease Expense
OperatingLeaseExpense
6100000
CY2021Q4 abr Loans And Investments Unfunded Commitments
LoansAndInvestmentsUnfundedCommitments
975200000
CY2021Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
96100000
abr Percentage Of Dividend Paid
PercentageOfDividendPaid
1
CY2020 abr Percentage Of Dividend Paid
PercentageOfDividendPaid
1
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
317412000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
317412000
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
163395000
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
163395000
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
121074000
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
121074000
CY2021 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
38507000
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CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
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MortgageLoansOnRealEstateNewMortgageLoans
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CY2019 abr Mortgage Loans On Real Estate Funding Of Unfunded Loan Commitments
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25618000
CY2020 abr Mortgage Loans On Real Estate Accretion Of Unearned Revenue
MortgageLoansOnRealEstateAccretionOfUnearnedRevenue
13590000
CY2019 abr Mortgage Loans On Real Estate Accretion Of Unearned Revenue
MortgageLoansOnRealEstateAccretionOfUnearnedRevenue
12083000
CY2021 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
24315000
CY2020 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
75000
CY2021 srt Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
2516771000
CY2020 srt Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
1243694000
CY2019 srt Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
1753693000
CY2021 us-gaap Mortgage Loans On Real Estate Foreclosures
MortgageLoansOnRealEstateForeclosures
65144000
CY2021 abr Mortgage Loans On Real Estate Unfunded Loan Commitments
MortgageLoansOnRealEstateUnfundedLoanCommitments
624519000
CY2020 abr Mortgage Loans On Real Estate Unfunded Loan Commitments
MortgageLoansOnRealEstateUnfundedLoanCommitments
127758000
CY2019 abr Mortgage Loans On Real Estate Unfunded Loan Commitments
MortgageLoansOnRealEstateUnfundedLoanCommitments
147392000
CY2021 abr Mortgage Loans On Real Estate Use Of Loan Charge Offs
MortgageLoansOnRealEstateUseOfLoanChargeOffs
10773000
CY2020 abr Provision For Loan And Lease Losses Gross
ProvisionForLoanAndLeaseLossesGross
77335000
CY2021 abr Mortgage Loans On Real Estate Unearned Revenue And Costs
MortgageLoansOnRealEstateUnearnedRevenueAndCosts
69528000
CY2020 abr Mortgage Loans On Real Estate Unearned Revenue And Costs
MortgageLoansOnRealEstateUnearnedRevenueAndCosts
35893000
CY2019 abr Mortgage Loans On Real Estate Unearned Revenue And Costs
MortgageLoansOnRealEstateUnearnedRevenueAndCosts
18536000
CY2021Q4 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
11981048000
CY2020Q4 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
5285868000
CY2019Q4 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
4189960000

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