2022 Q1 Form 10-Q Financial Statement

#000110465922056775 Filed on May 06, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1 2019 Q4
Revenue $225.6M $169.9M $144.4M
YoY Change 32.78% 87.11% -4.24%
Cost Of Revenue $82.56M $42.20M $48.20M
YoY Change 95.64% -15.6% 12.09%
Gross Profit $143.0M $127.8M $96.20M
YoY Change 11.93% 213.24% -10.76%
Gross Profit Margin 63.4% 75.22% 66.62%
Selling, General & Admin $14.55M $10.82M $40.20M
YoY Change 34.48% -2.12% 5.79%
% of Gross Profit 10.17% 8.46% 41.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.983M $1.800M $1.800M
YoY Change 10.17% -5.26% -10.0%
% of Gross Profit 1.39% 1.41% 1.87%
Operating Expenses $60.79M $56.27M $41.70M
YoY Change 8.03% -55.21% -16.93%
Operating Profit $82.26M $71.53M $54.50M
YoY Change 14.99% -184.34% -5.38%
Interest Expense $82.56M $42.18M $1.500M
YoY Change 95.71% -15.6% 1400.0%
% of Operating Profit 100.37% 58.97% 2.75%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income $88.12M $93.60M $48.70M
YoY Change -5.86% -213.18% -15.45%
Income Tax $8.188M $12.49M $4.100M
% Of Pretax Income 9.29% 13.35% 8.42%
Net Earnings $79.93M $81.11M $37.40M
YoY Change -1.46% -218.66% -4.35%
Net Earnings / Revenue 35.43% 47.74% 25.9%
Basic Earnings Per Share $0.42 $0.55
Diluted Earnings Per Share $0.40 $0.55 $297.5K
COMMON SHARES
Basic Shares Outstanding 153.4M 125.2M
Diluted Shares Outstanding 185.4M 144.0M

Balance Sheet

Concept 2022 Q1 2021 Q1 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $350.8M $260.2M $299.7M
YoY Change 34.82% 17.05% 87.2%
Cash & Equivalents $350.8M $260.2M $339.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $53.74M $19.70M $10.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $404.6M $279.9M $310.4M
YoY Change 44.54% 18.55% 92.32%
LONG-TERM ASSETS
Property, Plant & Equipment $1.400M $13.20M
YoY Change -89.47% -8.33%
Goodwill $56.60M
YoY Change
Intangibles $54.08M
YoY Change
Long-Term Investments $828.4M $829.1M $598.0M
YoY Change -0.09% 33.81% 8.06%
Other Assets $517.1M $272.0M $210.9M
YoY Change 90.11% -10.56% 16.78%
Total Long-Term Assets $15.90B $7.851B $5.929B
YoY Change 102.58% 17.2% 33.21%
TOTAL ASSETS
Total Short-Term Assets $404.6M $279.9M $310.4M
Total Long-Term Assets $15.90B $7.851B $5.929B
Total Assets $16.31B $8.131B $6.239B
YoY Change 100.58% 17.25% 35.28%
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 $12.81M $1.600M $13.10M
YoY Change 700.75% -48.39%
LONG-TERM LIABILITIES
Long-Term Debt $13.20B $6.183B $4.701B
YoY Change 113.41% 12.27% 38.53%
Other Long-Term Liabilities $328.1M $275.3M $168.9M
YoY Change 19.19% 38.97% 10.32%
Total Long-Term Liabilities $13.52B $6.459B $4.870B
YoY Change 109.4% 13.2% 37.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.81M $1.600M $13.10M
Total Long-Term Liabilities $13.52B $6.459B $4.870B
Total Liabilities $13.54B $6.460B $4.883B
YoY Change 109.54% 13.17% 31.38%
SHAREHOLDERS EQUITY
Retained Earnings $75.83M -$35.50M -$60.92M
YoY Change -313.61% -80.01%
Common Stock $1.929B $1.474B $1.156B
YoY Change 30.84% 26.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.639B $1.528B $1.185B
YoY Change
Total Liabilities & Shareholders Equity $16.31B $8.131B $6.239B
YoY Change 100.58% 17.25% 35.28%

Cashflow Statement

Concept 2022 Q1 2021 Q1 2019 Q4
OPERATING ACTIVITIES
Net Income $79.93M $81.11M $37.40M
YoY Change -1.46% -218.66% -4.35%
Depreciation, Depletion And Amortization $1.983M $1.800M $1.800M
YoY Change 10.17% -5.26% -10.0%
Cash From Operating Activities $836.8M $491.1M -$283.7M
YoY Change 70.4% -310.56% -279.78%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$2.018B -$871.3M -$312.2M
YoY Change 131.57% 70.58% 137.05%
Cash From Investing Activities -$2.018B -$871.3M -$312.2M
YoY Change 131.57% 70.59% 137.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $137.8M $158.4M
YoY Change -13.02% -2048.03%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.157B 375.5M 781.2M
YoY Change 208.28% -50.59% 3968.75%
NET CHANGE
Cash From Operating Activities 836.8M 491.1M -283.7M
Cash From Investing Activities -2.018B -871.3M -312.2M
Cash From Financing Activities 1.157B 375.5M 781.2M
Net Change In Cash -23.37M -4.731M 185.3M
YoY Change 393.89% -129.88% 309.05%
FREE CASH FLOW
Cash From Operating Activities $836.8M $491.1M -$283.7M
Capital Expenditures $0.00
Free Cash Flow -$283.7M
YoY Change -279.78%

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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1670692000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
79929000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
81110000
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1983000
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1755000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
6095000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3330000
CY2022Q1 abr Amortization And Accretion Of Interest Fees And Intangible Assets
AmortizationAndAccretionOfInterestFeesAndIntangibleAssets
-2840000
CY2021Q1 abr Amortization And Accretion Of Interest Fees And Intangible Assets
AmortizationAndAccretionOfInterestFeesAndIntangibleAssets
-72000
CY2022Q1 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
14972000
CY2021Q1 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
14204000
CY2022Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
845620000
CY2021Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
1412722000
CY2022Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
1586715000
CY2021Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
1841891000
CY2022Q1 abr Originated Mortgage Servicing Rights Revenue
OriginatedMortgageServicingRightsRevenue
15312000
CY2021Q1 abr Originated Mortgage Servicing Rights Revenue
OriginatedMortgageServicingRightsRevenue
36936000
CY2022Q1 abr Write Off Of Capitalized Mortgage Servicing Rights From Payoffs
WriteOffOfCapitalizedMortgageServicingRightsFromPayoffs
12697000
CY2021Q1 abr Write Off Of Capitalized Mortgage Servicing Rights From Payoffs
WriteOffOfCapitalizedMortgageServicingRightsFromPayoffs
3828000
CY2022Q1 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
-662000
CY2021Q1 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
1652000
CY2022Q1 us-gaap Allowance For Loan And Lease Losses Writeoffs Net
AllowanceForLoanAndLeaseLossesWriteoffsNet
2358000
CY2021Q1 us-gaap Allowance For Loan And Lease Losses Writeoffs Net
AllowanceForLoanAndLeaseLossesWriteoffsNet
-1075000
CY2022Q1 abr Loss Contingency Accrual Charge Offs Net
LossContingencyAccrualChargeOffsNet
230000
CY2021Q1 abr Loss Contingency Accrual Charge Offs Net
LossContingencyAccrualChargeOffsNet
62000
CY2022Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1720000
CY2021Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
4486000
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
7212000
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
22251000
CY2022Q1 abr Distributions From Equity Affiliates
DistributionsFromEquityAffiliates
12859000
CY2021Q1 abr Distributions From Equity Affiliates
DistributionsFromEquityAffiliates
13164000
CY2022Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1350000
CY2021Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1370000
CY2022Q1 us-gaap Proceeds From Collection Of Loans Held For Sale
ProceedsFromCollectionOfLoansHeldForSale
3258000
CY2021Q1 us-gaap Proceeds From Collection Of Loans Held For Sale
ProceedsFromCollectionOfLoansHeldForSale
2316000
CY2022Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
11792000
CY2021Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
4898000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
836828000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
491090000
CY2022Q1 abr Payment For Loans And Investments Funded Originated And Purchased Net
PaymentForLoansAndInvestmentsFundedOriginatedAndPurchasedNet
2656874000
CY2021Q1 abr Payment For Loans And Investments Funded Originated And Purchased Net
PaymentForLoansAndInvestmentsFundedOriginatedAndPurchasedNet
1055354000
CY2022Q1 abr Proceeds From Payoffs And Paydowns Of Loans And Investments
ProceedsFromPayoffsAndPaydownsOfLoansAndInvestments
668379000
CY2021Q1 abr Proceeds From Payoffs And Paydowns Of Loans And Investments
ProceedsFromPayoffsAndPaydownsOfLoansAndInvestments
234711000
CY2022Q1 abr Increase Decrease In Customer Liability Deferred Revenue
IncreaseDecreaseInCustomerLiabilityDeferredRevenue
20767000
CY2021Q1 abr Increase Decrease In Customer Liability Deferred Revenue
IncreaseDecreaseInCustomerLiabilityDeferredRevenue
9190000
CY2022Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
12807000
CY2021Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
21045000
CY2022Q1 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
27598000
CY2022Q1 abr Proceeds From Payoffs And Paydowns Of Securities Held To Maturity
ProceedsFromPayoffsAndPaydownsOfSecuritiesHeldToMaturity
2647000
CY2021Q1 abr Proceeds From Payoffs And Paydowns Of Securities Held To Maturity
ProceedsFromPayoffsAndPaydownsOfSecuritiesHeldToMaturity
3380000
CY2022Q1 abr Due To Due From Borrowers And Reserves
DueToDueFromBorrowersAndReserves
12150000
CY2021Q1 abr Due To Due From Borrowers And Reserves
DueToDueFromBorrowersAndReserves
42154000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2017636000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-871272000
CY2022Q1 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
3035664000
CY2021Q1 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
3685968000
CY2022Q1 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
3213976000
CY2021Q1 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
3704382000
CY2022Q1 abr Proceeds From Issuance Of Collateralized Loan Obligations
ProceedsFromIssuanceOfCollateralizedLoanObligations
1652812000
CY2021Q1 abr Proceeds From Issuance Of Collateralized Loan Obligations
ProceedsFromIssuanceOfCollateralizedLoanObligations
655475000
CY2022Q1 abr Repayment Of Secured Loan Obligations
RepaymentOfSecuredLoanObligations
441000000
CY2021Q1 abr Repayment Of Secured Loan Obligations
RepaymentOfSecuredLoanObligations
356149000
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
137800000
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
158433000
CY2022Q1 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
77571000
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5415000
CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5647000
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
72099000
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
49219000
CY2022Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
13915000
CY2021Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
9028000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1157442000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
375451000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-23366000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4731000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
891270000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
536998000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
867904000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
532267000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
404580000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
339528000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
486690000
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
197470000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
891270000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
536998000
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
350814000
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
260228000
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
517090000
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
272039000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
867904000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
532267000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
70069000
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
36311000
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
741000
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
548000
CY2022Q1 abr Preferred Stock Amount Of Accrued Dividend
PreferredStockAmountOfAccruedDividend
6138000
CY2021Q1 abr Preferred Stock Amount Of Accrued Dividend
PreferredStockAmountOfAccruedDividend
629000
CY2022Q1 abr Stockholders Equity Including Portions Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionsAttributableToNoncontrollingInterest
2447000
CY2021Q1 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
65204000
CY2021Q1 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
185000
CY2022Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
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
CY2021Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
113241000
CY2022Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
3141000
CY2021 abr Impaired Financing Receivable First Dollar Ltv Ratio
ImpairedFinancingReceivableFirstDollarLtvRatio
3
CY2021 abr Impaired Financing Receivable Last Dollar Ltv Ratio
ImpairedFinancingReceivableLastDollarLtvRatio
95
CY2022Q1 abr Number Of Impaired Loans By Asset Class
NumberOfImpairedLoansByAssetClass
8
CY2021Q4 abr Number Of Impaired Loans By Asset Class
NumberOfImpairedLoansByAssetClass
8
CY2022Q1 abr Number Of Loan For Which No Provision For Loan Loss Made
NumberOfLoanForWhichNoProvisionForLoanLossMade
0
CY2022Q1 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="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. Since 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 March 31, 2022 inherently less certain than they would be absent the current and potential impacts of COVID-19.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
CY2022Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
14169796000
CY2022Q1 abr Mortgage Loans On Real Estate Percentage
MortgageLoansOnRealEstatePercentage
1
CY2022Q1 srt Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
677
CY2022Q1 srt Mortgage Loans On Real Estate Interest Rate
MortgageLoansOnRealEstateInterestRate
0.0438
CY2022Q1 abr Mortgage Loans On Real Estate Remaining Maturity Period
MortgageLoansOnRealEstateRemainingMaturityPeriod
P24M21D
CY2022Q1 abr First Dollar Ltv Ratio
FirstDollarLTVRatio
0.01
CY2022Q1 abr Last Dollar Ltv Ratio
LastDollarLTVRatio
0.76
CY2022Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
116382000
CY2022Q1 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
75131000
CY2022Q1 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
13978283000
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
CY2022Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
116382000
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
CY2022Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
3100000
CY2022Q1 us-gaap Financing Receivable Accrued Interest Before Allowance For Credit Loss
FinancingReceivableAccruedInterestBeforeAllowanceForCreditLoss
65100000
CY2021Q4 us-gaap Financing Receivable Accrued Interest Before Allowance For Credit Loss
FinancingReceivableAccruedInterestBeforeAllowanceForCreditLoss
58300000
CY2022Q1 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
159922000
CY2022Q1 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
149062000
CY2022Q1 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
86886000
CY2022Q1 abr Impaired Financing Receivable First Dollar Ltv Ratio
ImpairedFinancingReceivableFirstDollarLtvRatio
3
CY2022Q1 abr Impaired Financing Receivable Last Dollar Ltv Ratio
ImpairedFinancingReceivableLastDollarLtvRatio
95
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
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
CY2021Q2 abr Loans And Leases Receivable Allowance Reversal
LoansAndLeasesReceivableAllowanceReversal
7500000
CY2021Q2 us-gaap Interest And Fee Income Loans Real Estate Construction
InterestAndFeeIncomeLoansRealEstateConstruction
3500000
CY2022Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
2
CY2022Q1 abr Financing Receivable Modifications Refinancing And Or Extensions Made Considered Trouble Debt Restructuring Number Of Loans
FinancingReceivableModificationsRefinancingAndOrExtensionsMadeConsideredTroubleDebtRestructuringNumberOfLoans
0
CY2021 abr Financing Receivable Modifications Refinancing And Or Extensions Made Considered Trouble Debt Restructuring Number Of Loans
FinancingReceivableModificationsRefinancingAndOrExtensionsMadeConsideredTroubleDebtRestructuringNumberOfLoans
0
CY2022Q1 abr Interest Reserve
InterestReserve
103300000
CY2021 abr Interest Reserve
InterestReserve
87400000
CY2022Q1 abr Interest Reserve Number Of Loans
InterestReserveNumberOfLoans
383
CY2021Q4 abr Interest Reserve Number Of Loans
InterestReserveNumberOfLoans
328
CY2022Q1 abr Interest Reserve Unpaid Principal Balance
InterestReserveUnpaidPrincipalBalance
6430000000
CY2021Q4 abr Interest Reserve Unpaid Principal Balance
InterestReserveUnpaidPrincipalBalance
5750000000
CY2022Q1 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
332573000
CY2021Q4 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
1077239000
CY2022Q1 abr Fair Value Of Future Mortgage Servicing Rights
FairValueOfFutureMortgageServicingRights
6666000
CY2021Q4 abr Fair Value Of Future Mortgage Servicing Rights
FairValueOfFutureMortgageServicingRights
19318000
CY2022Q1 abr Loans Receivable Held For Sale Unearned Discount
LoansReceivableHeldForSaleUnearnedDiscount
2280000
CY2021Q4 abr Loans Receivable Held For Sale Unearned Discount
LoansReceivableHeldForSaleUnearnedDiscount
2948000
CY2022Q1 us-gaap Loans Receivable Held For Sale Amount
LoansReceivableHeldForSaleAmount
336959000
CY2021Q4 us-gaap Loans Receivable Held For Sale Amount
LoansReceivableHeldForSaleAmount
1093609000
CY2022Q1 abr Proceeds From Sale Of Loans Held For Sale Excluding Acquisition
ProceedsFromSaleOfLoansHeldForSaleExcludingAcquisition
1590000000
CY2021 abr Proceeds From Sale Of Loans Held For Sale Excluding Acquisition
ProceedsFromSaleOfLoansHeldForSaleExcludingAcquisition
1840000000
CY2022Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
0
CY2021Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
0
CY2022Q1 abr Interest Income Net
InterestIncomeNet
800000
CY2021Q1 abr Interest Income Net
InterestIncomeNet
1200000
CY2022Q1 abr Held To Maturity Securities Face Value
HeldToMaturitySecuritiesFaceValue
245070000
CY2022Q1 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
161696000
CY2022Q1 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
13316000
CY2022Q1 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
175012000
CY2022Q1 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
2043000
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
CY2021Q4 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
1753000
CY2022Q1 us-gaap Debt Securities Held To Maturity Credit Loss Expense Reversal
DebtSecuritiesHeldToMaturityCreditLossExpenseReversal
290000
CY2022Q1 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
2043000
CY2022Q1 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
96836000
CY2021Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
89676000
CY2022Q1 abr Affiliates Debt Instrument Principal Outstanding
AffiliatesDebtInstrumentPrincipalOutstanding
1687000
CY2022Q1 abr Equity Method Indirect Ownership Percentage
EquityMethodIndirectOwnershipPercentage
0.092
CY2022Q1 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowings
4302819000
CY2022Q1 abr Collateral Carrying Value
CollateralCarryingValue
5527432000
CY2022Q1 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0254
CY2021Q4 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowings
4481579000
CY2021Q4 abr Collateral Carrying Value
CollateralCarryingValue
5585460000
CY2022Q1 abr Line Of Credit Facility Commitment Amount
LineOfCreditFacilityCommitmentAmount
125000000.0
CY2022Q1 abr Line Of Credit Facility Increase In Total Commitment Amount
LineOfCreditFacilityIncreaseInTotalCommitmentAmount
450000000.0
CY2022Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
200000000.0
CY2022Q1 abr Debt Instrument Maturity Date Length Of Extension Period
DebtInstrumentMaturityDateLengthOfExtensionPeriod
P1Y
CY2022Q1 abr Debt Instrument Maturity Date Length Of Extension Period
DebtInstrumentMaturityDateLengthOfExtensionPeriod
P1Y
CY2022Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
50000000.0
CY2022Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
200000000.0
CY2022Q1 us-gaap Debt Instrument Redemption Price Percentage Of Principal Amount Redeemed
DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
1
CY2022Q1 us-gaap Debt Instrument Redemption Price Percentage Of Principal Amount Redeemed
DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
1
CY2022Q1 us-gaap Debt Instrument Redemption Price Percentage Of Principal Amount Redeemed
DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
1
CY2022Q1 us-gaap Debt Instrument Redemption Price Percentage Of Principal Amount Redeemed
DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
1
CY2022Q1 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 10 — 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:73.75%;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:9.24%;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:73.75%;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:23.76%;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:73.75%;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;">2022</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:10.72%;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: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:73.75%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;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:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 56,064</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;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="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:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:73.75%;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="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;"> 133</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:9.24%;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="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:73.75%;background:#cceeff;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%;background:#cceeff;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%;background:#cceeff;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%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"> (795)</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:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;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:9.24%;background:#cceeff;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;width:0.13%;background:#cceeff;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="vertical-align:bottom;width:73.75%;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="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: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="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;"> (230)</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: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="vertical-align:bottom;white-space:nowrap;width:9.24%;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="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:73.75%;background:#cceeff;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%;background:#cceeff;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%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 55,172</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.34%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;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:0.13%;background:#cceeff;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 both March 31, 2022 and 2021, guarantee obligations of $34.4 million 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, 2022 and December 31, 2021, we had outstanding advances of $0.3 million and less than $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, 2022 and December 31, 2021, our allowance for loss-sharing obligations, associated with expected losses under CECL, was $20.8 million and $21.7 million, respectively, and represented 0.11%, for both periods, 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, 2022 and December 31, 2021, the maximum quantifiable liability associated with our guarantees under the Fannie Mae DUS agreement was $3.53 billion and $3.60 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
CY2022Q1 abr Guarantee Obligations Included In Allowance For Loss Sharing Obligations
GuaranteeObligationsIncludedInAllowanceForLossSharingObligations
34400000
CY2022Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
-2500000
CY2021Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
8700000
CY2022Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
14169796000
CY2021Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
12158995000
CY2022Q1 abr Loans Held For Sale Receivable Gross Commercial Real Estate
LoansHeldForSaleReceivableGrossCommercialRealEstate
332573000
CY2021Q4 abr Loans Held For Sale Receivable Gross Commercial Real Estate
LoansHeldForSaleReceivableGrossCommercialRealEstate
1077239000
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
1439000
CY2022Q1 abr Held To Maturity Securities Notional Amount
HeldToMaturitySecuritiesNotionalAmount
245070000
CY2021Q4 abr Held To Maturity Securities Notional Amount
HeldToMaturitySecuritiesNotionalAmount
210728000
CY2022Q1 us-gaap Derivative Asset Notional Amount
DerivativeAssetNotionalAmount
287251000
CY2021Q4 us-gaap Derivative Asset Notional Amount
DerivativeAssetNotionalAmount
280654000
CY2022Q1 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings Principal Amount
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowingsPrincipalAmount
4315388000
CY2021Q4 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings Principal Amount
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowingsPrincipalAmount
4493699000
CY2022Q1 us-gaap Derivative Liability Notional Amount
DerivativeLiabilityNotionalAmount
238798000
CY2021Q4 us-gaap Derivative Liability Notional Amount
DerivativeLiabilityNotionalAmount
301816000
CY2022Q1 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
86900000
CY2022Q1 abr Impaired Financing Receivable With Related Allowance Number Of Loans
ImpairedFinancingReceivableWithRelatedAllowanceNumberOfLoans
8
CY2022Q1 abr Impaired Financing Receivables Carrying Amount
ImpairedFinancingReceivablesCarryingAmount
149100000
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
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
13683000
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
37026000
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
13388000
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
35059000
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
1355000
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1355000
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1439000
CY2022Q1 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
MortgageServicingRightsMSRImpairmentRecovery
-8021000
CY2022Q1 abr Derivative Fair Value Adjustment
DerivativeFairValueAdjustment
8021000
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2208400000
CY2022Q1 abr Operating Leases Future Minimum Payments Due Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsDueRemainderOfFiscalYear
6283000
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