2023 Q2 Form 10-Q Financial Statement

#000110465923056343 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $401.0M $401.0M
YoY Change 59.26% 77.77%
Cost Of Revenue $227.2M $219.4M
YoY Change 112.2% 165.72%
Gross Profit $173.8M $181.7M
YoY Change 20.09% 27.01%
Gross Profit Margin 43.34% 45.3%
Selling, General & Admin $55.26M $13.62M
YoY Change 319.01% -6.36%
% of Gross Profit 31.8% 7.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.387M $2.624M
YoY Change 17.53% 32.32%
% of Gross Profit 1.37% 1.44%
Operating Expenses $79.20M $85.72M
YoY Change 37.07% 41.02%
Operating Profit $94.57M $95.95M
YoY Change 8.8% 16.65%
Interest Expense $5.560M $219.4M
YoY Change -94.81% 165.72%
% of Operating Profit 5.88% 228.64%
Other Income/Expense, Net
YoY Change
Pretax Income $98.89M $110.3M
YoY Change 5.8% 25.15%
Income Tax $5.553M $8.029M
% Of Pretax Income 5.62% 7.28%
Net Earnings $76.16M $102.2M
YoY Change -13.56% 27.92%
Net Earnings / Revenue 19.0% 25.49%
Basic Earnings Per Share $0.42 $0.47
Diluted Earnings Per Share $0.35 $0.46
COMMON SHARES
Basic Shares Outstanding 181.2M 179.8M
Diluted Shares Outstanding 216.1M shares 214.9M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $846.4M $774.5M
YoY Change 147.48% 120.78%
Cash & Equivalents $846.4M $774.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $73.26M $113.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $919.6M $887.6M
YoY Change 132.8% 119.41%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $712.2M $717.9M
YoY Change -12.12% -13.34%
Other Assets $396.9M $704.8M
YoY Change -49.63% 36.31%
Total Long-Term Assets $15.24B $15.70B
YoY Change -11.33% -1.28%
TOTAL ASSETS
Total Short-Term Assets $919.6M $887.6M
Total Long-Term Assets $15.24B $15.70B
Total Assets $16.16B $16.59B
YoY Change -8.09% 1.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.556M $12.48M
YoY Change -86.84% -2.58%
LONG-TERM LIABILITIES
Long-Term Debt $12.61B $13.05B
YoY Change -11.98% -1.08%
Other Long-Term Liabilities $387.6M $365.4M
YoY Change 22.18% 11.36%
Total Long-Term Liabilities $12.99B $13.42B
YoY Change -11.24% -0.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.556M $12.48M
Total Long-Term Liabilities $12.99B $13.42B
Total Liabilities $13.13B $13.43B
YoY Change -10.45% -0.78%
SHAREHOLDERS EQUITY
Retained Earnings $107.6M $107.7M
YoY Change 29.17% 42.03%
Common Stock $2.282B $2.280B
YoY Change 10.66% 18.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.024B $3.022B
YoY Change
Total Liabilities & Shareholders Equity $16.16B $16.59B
YoY Change -8.09% 1.71%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $76.16M $102.2M
YoY Change -13.56% 27.92%
Depreciation, Depletion And Amortization $2.387M $2.624M
YoY Change 17.53% 32.32%
Cash From Operating Activities $158.4M -$56.79M
YoY Change -319.16% -106.79%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $200.3M $828.0M
YoY Change -124.31% -141.04%
Cash From Investing Activities $200.3M $828.0M
YoY Change -124.31% -141.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -594.9M -540.0M
YoY Change -151.36% -146.66%
NET CHANGE
Cash From Operating Activities 158.4M -56.79M
Cash From Investing Activities 200.3M 828.0M
Cash From Financing Activities -594.9M -540.0M
Net Change In Cash -236.2M 231.2M
YoY Change -190.12% -1089.57%
FREE CASH FLOW
Cash From Operating Activities $158.4M -$56.79M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2023Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
921522000
CY2022Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
1586715000
CY2023Q1 abr Originated Mortgage Servicing Rights Revenue
OriginatedMortgageServicingRightsRevenue
18458000
CY2022Q1 abr Originated Mortgage Servicing Rights Revenue
OriginatedMortgageServicingRightsRevenue
15312000
CY2023Q1 abr Write Off Of Capitalized Mortgage Servicing Rights From Payoffs
WriteOffOfCapitalizedMortgageServicingRightsFromPayoffs
3307000
CY2022Q1 abr Write Off Of Capitalized Mortgage Servicing Rights From Payoffs
WriteOffOfCapitalizedMortgageServicingRightsFromPayoffs
12697000
CY2023Q1 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
3177000
CY2022Q1 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
-662000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
22517000
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
2358000
CY2023Q1 abr Loss Contingency Accrual Charge Offs Net
LossContingencyAccrualChargeOffsNet
588000
CY2022Q1 abr Loss Contingency Accrual Charge Offs Net
LossContingencyAccrualChargeOffsNet
230000
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3164000
CY2022Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1720000
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
14326000
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
7212000
CY2023Q1 abr Distributions From Equity Affiliates
DistributionsFromEquityAffiliates
4748000
CY2022Q1 abr Distributions From Equity Affiliates
DistributionsFromEquityAffiliates
12859000
CY2023Q1 abr Change In Fair Value Of Held For Sale Loans
ChangeInFairValueOfHeldForSaleLoans
2960000
CY2022Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1350000
CY2023Q1 us-gaap Proceeds From Collection Of Loans Held For Sale
ProceedsFromCollectionOfLoansHeldForSale
13000
CY2022Q1 us-gaap Proceeds From Collection Of Loans Held For Sale
ProceedsFromCollectionOfLoansHeldForSale
3258000
CY2023Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
71468000
CY2022Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
11792000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-56785000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
836828000
CY2023Q1 abr Payment For Loans And Investments Funded Originated And Purchased Net
PaymentForLoansAndInvestmentsFundedOriginatedAndPurchasedNet
380633000
CY2022Q1 abr Payment For Loans And Investments Funded Originated And Purchased Net
PaymentForLoansAndInvestmentsFundedOriginatedAndPurchasedNet
2656874000
CY2023Q1 abr Proceeds From Payoffs And Paydowns Of Loans And Investments
ProceedsFromPayoffsAndPaydownsOfLoansAndInvestments
1191076000
CY2022Q1 abr Proceeds From Payoffs And Paydowns Of Loans And Investments
ProceedsFromPayoffsAndPaydownsOfLoansAndInvestments
668379000
CY2023Q1 abr Increase Decrease In Customer Liability Deferred Revenue
IncreaseDecreaseInCustomerLiabilityDeferredRevenue
3953000
CY2022Q1 abr Increase Decrease In Customer Liability Deferred Revenue
IncreaseDecreaseInCustomerLiabilityDeferredRevenue
20767000
CY2023Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
500000
CY2022Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
12807000
CY2023Q1 us-gaap Proceeds From Divestiture Of Interest In Subsidiaries And Affiliates
ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates
11567000
CY2023Q1 abr Proceeds From Payoffs And Paydowns Of Securities Held To Maturity
ProceedsFromPayoffsAndPaydownsOfSecuritiesHeldToMaturity
2580000
CY2022Q1 abr Proceeds From Payoffs And Paydowns Of Securities Held To Maturity
ProceedsFromPayoffsAndPaydownsOfSecuritiesHeldToMaturity
2647000
CY2022Q1 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
27598000
CY2022Q1 abr Due To Due From Borrowers And Reserves
DueToDueFromBorrowersAndReserves
12150000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
828043000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2017636000
CY2023Q1 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
1849389000
CY2022Q1 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
3035664000
CY2023Q1 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
2042692000
CY2022Q1 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
3213976000
CY2023Q1 abr Repayment Of Secured Loan Obligations
RepaymentOfSecuredLoanObligations
344547000
CY2022Q1 abr Repayment Of Secured Loan Obligations
RepaymentOfSecuredLoanObligations
441000000
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
82744000
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
137800000
CY2023Q1 us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
95000000
CY2023Q1 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
70750000
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5112000
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5415000
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
9671000
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
90530000
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
72099000
CY2023Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
3866000
CY2022Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
13915000
CY2022Q1 abr Proceeds From Issuance Of Collateralized Loan Obligations
ProceedsFromIssuanceOfCollateralizedLoanObligations
1652812000
CY2022Q1 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
77571000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-540035000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1157442000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
231223000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-23366000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1248165000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
891270000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1479388000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
867904000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
534357000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
404580000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
713808000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
486690000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1248165000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
891270000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
774544000
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
350814000
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
704844000
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
517090000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1479388000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
867904000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
213849000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
70069000
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1032000
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
741000
CY2023Q1 abr Preferred Stock Amount Of Accrued Dividend
PreferredStockAmountOfAccruedDividend
7010000
CY2022Q1 abr Preferred Stock Amount Of Accrued Dividend
PreferredStockAmountOfAccruedDividend
6138000
CY2022Q1 abr Stockholders Equity Including Portions Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionsAttributableToNoncontrollingInterest
2447000
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2022 srt Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
747
CY2022 abr Mortgage Loans On Real Estate Weighted Average Interest Rate
MortgageLoansOnRealEstateWeightedAverageInterestRate
0.0817
CY2022 abr Mortgage Loans On Real Estate Remaining Maturity Period
MortgageLoansOnRealEstateRemainingMaturityPeriod
P20M18D
CY2022Q4 abr First Dollar Ltv Ratio
FirstDollarLTVRatio
0.01
CY2022Q4 abr Last Dollar Ltv Ratio
LastDollarLTVRatio
0.76
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
132559000
CY2023Q1 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. The ongoing effects of the COVID-19 pandemic have caused significant disruptions to the U.S. and global economies. Although vaccine availability and usage have continued to increase, which has led to less negative short-term effects, such as travel bans, quarantines, layoffs and shutdowns, the ongoing longer-term macroeconomic effects on inflation, interest rates, capital markets, labor shortages, property values and global supply chains continue to negatively impact many industries, including the U.S. commercial real estate market. In addition, new strains of COVID-19 continue to emerge, which may cause governments and businesses to re-impose aggressive measures to help slow its spread, making the future impact difficult to predict. The ultimate impact of COVID-19 on the economy, including rising inflation, increasing interest rates, tightening of capital markets and reduced property values, both globally and to our business, makes any estimate or assumption at March 31, 2023 inherently less certain.</p>
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Reclassification</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;">Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements.</p>
CY2023Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
13643724000
CY2023Q1 abr Mortgage Loans On Real Estate Percentage
MortgageLoansOnRealEstatePercentage
1
CY2023Q1 srt Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
715
CY2023Q1 abr Mortgage Loans On Real Estate Weighted Average Interest Rate
MortgageLoansOnRealEstateWeightedAverageInterestRate
0.0860
CY2023Q1 abr Mortgage Loans On Real Estate Remaining Maturity Period
MortgageLoansOnRealEstateRemainingMaturityPeriod
P19M6D
CY2023Q1 abr First Dollar Ltv Ratio
FirstDollarLTVRatio
0.01
CY2023Q1 abr Last Dollar Ltv Ratio
LastDollarLTVRatio
0.76
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
153077000
CY2023Q1 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
-59662000
CY2023Q1 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
13430985000
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
14456123000
CY2022Q4 abr Mortgage Loans On Real Estate Percentage
MortgageLoansOnRealEstatePercentage
1
CY2022Q4 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
-68890000
CY2022Q4 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
14254674000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
132559000
CY2023Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
20518000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
153077000
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
113241000
CY2022Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
3141000
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
116382000
CY2023Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
20500000
CY2023Q1 us-gaap Financing Receivable Accrued Interest Before Allowance For Credit Loss
FinancingReceivableAccruedInterestBeforeAllowanceForCreditLoss
112800000
CY2022Q4 us-gaap Financing Receivable Accrued Interest Before Allowance For Credit Loss
FinancingReceivableAccruedInterestBeforeAllowanceForCreditLoss
108500000
CY2023Q1 us-gaap Financing Receivable Purchased With Credit Deterioration Amount At Par Value
FinancingReceivablePurchasedWithCreditDeteriorationAmountAtParValue
202585000
CY2023Q1 abr Impaired Financing Receivable Carrying Value
ImpairedFinancingReceivableCarryingValue
191756000
CY2023Q1 us-gaap Financing Receivable Purchased With Credit Deterioration Allowance For Credit Loss At Acquisition Date
FinancingReceivablePurchasedWithCreditDeteriorationAllowanceForCreditLossAtAcquisitionDate
93337000
CY2023Q1 abr Impaired Financing Receivable First Dollar Ltv Ratio
ImpairedFinancingReceivableFirstDollarLtvRatio
2
CY2023Q1 abr Impaired Financing Receivable Last Dollar Ltv Ratio
ImpairedFinancingReceivableLastDollarLtvRatio
96
CY2022 us-gaap Financing Receivable Purchased With Credit Deterioration Amount At Par Value
FinancingReceivablePurchasedWithCreditDeteriorationAmountAtParValue
157960000
CY2022Q4 abr Impaired Financing Receivable Carrying Value
ImpairedFinancingReceivableCarryingValue
147131000
CY2022 us-gaap Financing Receivable Purchased With Credit Deterioration Allowance For Credit Loss At Acquisition Date
FinancingReceivablePurchasedWithCreditDeteriorationAllowanceForCreditLossAtAcquisitionDate
85386000
CY2022 abr Impaired Financing Receivable First Dollar Ltv Ratio
ImpairedFinancingReceivableFirstDollarLtvRatio
3
CY2022 abr Impaired Financing Receivable Last Dollar Ltv Ratio
ImpairedFinancingReceivableLastDollarLtvRatio
96
CY2023Q1 abr Number Of Impaired Loans By Asset Class
NumberOfImpairedLoansByAssetClass
8
CY2022Q4 abr Number Of Impaired Loans By Asset Class
NumberOfImpairedLoansByAssetClass
7
CY2023Q1 abr Number Of Loan For Which No Provision For Loan Loss Made
NumberOfLoanForWhichNoProvisionForLoanLossMade
0
CY2022Q4 abr Number Of Loan For Which No Provision For Loan Loss Made
NumberOfLoanForWhichNoProvisionForLoanLossMade
0
CY2023Q1 us-gaap Financing Receivable Nonaccrual Interest Income
FinancingReceivableNonaccrualInterestIncome
600000
CY2022Q1 us-gaap Financing Receivable Nonaccrual Interest Income
FinancingReceivableNonaccrualInterestIncome
0
CY2022Q1 abr Financing Receivable Modifications Refinancing And Or Extensions Made Considered Trouble Debt Restructuring Number Of Loans
FinancingReceivableModificationsRefinancingAndOrExtensionsMadeConsideredTroubleDebtRestructuringNumberOfLoans
0
CY2023Q1 abr Financing Receivable Modifications Refinancing And Or Extensions Made Considered Trouble Debt Restructuring Number Of Loans
FinancingReceivableModificationsRefinancingAndOrExtensionsMadeConsideredTroubleDebtRestructuringNumberOfLoans
0
CY2023Q1 abr Interest Reserve
InterestReserve
118000000.0
CY2022 abr Interest Reserve
InterestReserve
123700000
CY2023Q1 abr Interest Reserve Number Of Loans
InterestReserveNumberOfLoans
479
CY2022Q4 abr Interest Reserve Number Of Loans
InterestReserveNumberOfLoans
480
CY2023Q1 abr Interest Reserve Unpaid Principal Balance
InterestReserveUnpaidPrincipalBalance
7480000000
CY2022Q4 abr Interest Reserve Unpaid Principal Balance
InterestReserveUnpaidPrincipalBalance
7700000000
CY2023Q1 abr Number Of Loans Sold
NumberOfLoansSold
4
CY2023Q1 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
217400000
CY2023Q1 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
468738000
CY2022Q4 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
368066000
CY2023Q1 abr Fair Value Of Future Mortgage Servicing Rights
FairValueOfFutureMortgageServicingRights
7387000
CY2022Q4 abr Fair Value Of Future Mortgage Servicing Rights
FairValueOfFutureMortgageServicingRights
5557000
CY2023Q1 abr Unrealized Impairment Income Loss
UnrealizedImpairmentIncomeLoss
1565000
CY2022Q4 abr Unrealized Impairment Income Loss
UnrealizedImpairmentIncomeLoss
15703000
CY2023Q1 abr Loans Receivable Held For Sale Unearned Discount
LoansReceivableHeldForSaleUnearnedDiscount
4958000
CY2022Q4 abr Loans Receivable Held For Sale Unearned Discount
LoansReceivableHeldForSaleUnearnedDiscount
3850000
CY2023Q1 us-gaap Loans Receivable Held For Sale Amount
LoansReceivableHeldForSaleAmount
469602000
CY2022Q4 us-gaap Loans Receivable Held For Sale Amount
LoansReceivableHeldForSaleAmount
354070000
CY2023Q1 abr Proceeds From Sale Of Loans Held For Sale Excluding Acquisition
ProceedsFromSaleOfLoansHeldForSaleExcludingAcquisition
932700000
CY2022Q1 abr Proceeds From Sale Of Loans Held For Sale Excluding Acquisition
ProceedsFromSaleOfLoansHeldForSaleExcludingAcquisition
1590000000
CY2023Q1 abr Loans Receivable Held For Sale Securitization
LoansReceivableHeldForSaleSecuritization
43400000
CY2023Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
0
CY2022Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
0
CY2023Q1 us-gaap Escrow Deposit
EscrowDeposit
1300000000
CY2022Q4 us-gaap Escrow Deposit
EscrowDeposit
1500000000
CY2023Q1 abr Contractually Specified Servicing Fees Amount Gross
ContractuallySpecifiedServicingFeesAmountGross
29210000
CY2022Q1 abr Contractually Specified Servicing Fees Amount Gross
ContractuallySpecifiedServicingFeesAmountGross
31748000
CY2023Q1 abr Interest Earned On Escrows
InterestEarnedOnEscrows
17003000
CY2022Q1 abr Interest Earned On Escrows
InterestEarnedOnEscrows
837000
CY2023Q1 us-gaap Prepayment Fees On Advances Net
PrepaymentFeesOnAdvancesNet
2075000
CY2022Q1 us-gaap Prepayment Fees On Advances Net
PrepaymentFeesOnAdvancesNet
16138000
CY2023Q1 abr Write Offs Mortgage Servicing Rights Msrs
WriteOffsMortgageServicingRightsMsrs
-3307000
CY2022Q1 abr Write Offs Mortgage Servicing Rights Msrs
WriteOffsMortgageServicingRightsMsrs
-12697000
CY2023Q1 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
15416000
CY2022Q1 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
14972000
CY2023Q1 abr Contractually Specified Servicing Fees Amount Net
ContractuallySpecifiedServicingFeesAmountNet
29565000
CY2022Q1 abr Contractually Specified Servicing Fees Amount Net
ContractuallySpecifiedServicingFeesAmountNet
21054000
CY2023Q1 abr Held To Maturity Securities Face Value
HeldToMaturitySecuritiesFaceValue
232541000
CY2023Q1 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
153888000
CY2023Q1 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
12925000
CY2023Q1 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
140963000
CY2023Q1 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
5025000
CY2022Q4 abr Held To Maturity Securities Face Value
HeldToMaturitySecuritiesFaceValue
234255000
CY2022Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
156547000
CY2022Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
11976000
CY2022Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
144571000
CY2022Q4 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
3153000
CY2022Q4 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
3153000
CY2023Q1 us-gaap Debt Securities Held To Maturity Credit Loss Expense Reversal
DebtSecuritiesHeldToMaturityCreditLossExpenseReversal
1872000
CY2023Q1 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
5025000
CY2023Q1 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
77641000
CY2022Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
79130000
CY2023Q1 abr Affiliates Debt Instrument Principal Outstanding
AffiliatesDebtInstrumentPrincipalOutstanding
1688000
CY2023Q1 abr Equity Method Indirect Ownership Percentage
EquityMethodIndirectOwnershipPercentage
0.092
CY2023Q1 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
4700000
CY2023Q1 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowings
3650876000
CY2023Q1 abr Collateral Carrying Value
CollateralCarryingValue
4865667000
CY2023Q1 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0706
CY2022Q4 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowings
3841814000
CY2022Q4 abr Collateral Carrying Value
CollateralCarryingValue
5185293000
CY2023Q1 abr Repayment Amount Of Outstanding Principal Amount Of Debt
RepaymentAmountOfOutstandingPrincipalAmountOfDebt
47400000
CY2023Q1 us-gaap Debt Instrument Redemption Price Percentage Of Principal Amount Redeemed
DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
1
CY2023Q1 us-gaap Debt Instrument Redemption Price Percentage Of Principal Amount Redeemed
DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
1
CY2023Q1 us-gaap Debt Instrument Redemption Price Percentage Of Principal Amount Redeemed
DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
1
CY2023Q1 us-gaap Debt Instrument Redemption Price Percentage Of Principal Amount Redeemed
DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
1
CY2023Q1 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:-0.02777481%;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:73.94%;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;width:2.33%;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:1.47%;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:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.23%;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:2.33%;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:1.47%;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:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.21%;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:73.94%;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:bottom;width:2.33%;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 colspan="5" style="vertical-align:middle;white-space:nowrap;width:23.72%;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;">Three Months Ended March 31, </b></p></td></tr><tr><td style="vertical-align:bottom;width:73.94%;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:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">    </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;">2023</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">    </p></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:10.68%;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></tr><tr><td style="vertical-align:bottom;width:73.94%;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;width:2.33%;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:1.47%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.23%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 57,168</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.21%;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></tr><tr><td style="vertical-align:bottom;width:73.94%;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;width:2.33%;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:1.47%;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:9.23%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 4,567</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;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:1.47%;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:9.21%;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></tr><tr><td style="vertical-align:bottom;width:73.94%;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;width:2.33%;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:1.47%;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:9.23%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"> (1,390)</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;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:1.47%;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:9.21%;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></tr><tr><td style="vertical-align:bottom;width:73.94%;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;width:2.33%;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:1.47%;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:9.23%;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;"> (588)</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;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:1.47%;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:9.21%;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></tr><tr><td style="vertical-align:bottom;width:73.94%;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;width:2.33%;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:1.47%;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;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.23%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 59,757</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.21%;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></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">When a loan is sold under the Fannie Mae DUS program, we undertake an obligation to partially guarantee the performance of the loan. A liability is recognized for the fair value of the guarantee obligation undertaken for the non-contingent aspect of the guarantee and is removed only upon either the expiration or settlement of the guarantee. At March 31, 2023 and 2022, we had $34.5 million and $34.4 million, respectively, of guarantee obligations 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, 2023 and December 31, 2022, we had outstanding advances of $0.4 million and $0.8 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, 2023 and December 31, 2022, our allowance for loss-sharing obligations, associated with expected losses under CECL, was $25.3 million and $22.7 million, respectively, and represented 0.13% and 0.12%, respectively, of our Fannie Mae servicing portfolio. During the three months ended March 31, 2023, we recorded a $2.6 million increase in CECL reserves.</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, 2023 and December 31, 2022, the maximum quantifiable liability associated with our guarantees under the Fannie Mae DUS agreement was $3.58 billion and $3.49 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>
CY2023Q1 abr Guarantee Obligations Included In Allowance For Loss Sharing Obligations
GuaranteeObligationsIncludedInAllowanceForLossSharingObligations
34500000
CY2022Q1 abr Guarantee Obligations Included In Allowance For Loss Sharing Obligations
GuaranteeObligationsIncludedInAllowanceForLossSharingObligations
34400000
CY2023Q1 abr Loss Sharing Obligations Allowance
LossSharingObligationsAllowance
25300000
CY2022Q4 abr Loss Sharing Obligations Allowance
LossSharingObligationsAllowance
22700000
CY2023Q1 abr Loss Sharing Obligations Percent
LossSharingObligationsPercent
0.0013
CY2022 abr Loss Sharing Obligations Percent
LossSharingObligationsPercent
0.0012
CY2023Q1 abr Impact Of Adopting Current Expected Credit Losses
ImpactOfAdoptingCurrentExpectedCreditLosses
2600000
CY2023Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
7100000
CY2022Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
2500000
CY2023Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
13643724000
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
14456123000
CY2023Q1 abr Loans Held For Sale Receivable Gross Commercial Real Estate
LoansHeldForSaleReceivableGrossCommercialRealEstate
468738000
CY2022Q4 abr Loans Held For Sale Receivable Gross Commercial Real Estate
LoansHeldForSaleReceivableGrossCommercialRealEstate
368066000
CY2023Q1 abr Held To Maturity Securities Notional Amount
HeldToMaturitySecuritiesNotionalAmount
232541000
CY2022Q4 abr Held To Maturity Securities Notional Amount
HeldToMaturitySecuritiesNotionalAmount
234255000
CY2023Q1 us-gaap Derivative Asset Notional Amount
DerivativeAssetNotionalAmount
591688000
CY2022Q4 us-gaap Derivative Asset Notional Amount
DerivativeAssetNotionalAmount
111950000
CY2023Q1 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings Principal Amount
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowingsPrincipalAmount
3662756000
CY2022Q4 abr Secured Debt Repurchase Agreements And Warehouse Agreement Borrowings Principal Amount
SecuredDebtRepurchaseAgreementsAndWarehouseAgreementBorrowingsPrincipalAmount
3856009000
CY2023Q1 us-gaap Derivative Liability Notional Amount
DerivativeLiabilityNotionalAmount
503860000
CY2022Q4 us-gaap Derivative Liability Notional Amount
DerivativeLiabilityNotionalAmount
273973000
CY2023Q1 us-gaap Financing Receivable Purchased With Credit Deterioration Allowance For Credit Loss At Acquisition Date
FinancingReceivablePurchasedWithCreditDeteriorationAllowanceForCreditLossAtAcquisitionDate
93300000
CY2023Q1 abr Impaired Financing Receivable With Related Allowance Number Of Loans
ImpairedFinancingReceivableWithRelatedAllowanceNumberOfLoans
8
CY2023Q1 abr Impaired Financing Receivables Carrying Amount
ImpairedFinancingReceivablesCarryingAmount
191800000
CY2023Q1 abr Unrealized Impairment Loss On Impaired Loans Held For Sale
UnrealizedImpairmentLossOnImpairedLoansHeldForSale
1600000
CY2022Q4 abr Impairment Loss With Related Allowance Number Of Loans
ImpairmentLossWithRelatedAllowanceNumberOfLoans
10
CY2023Q1 abr Unrealized Impairment Losses Before Carrying Value
UnrealizedImpairmentLossesBeforeCarryingValue
42600000
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
354000
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
295000
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
15066000
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
13683000
CY2023Q1 abr Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings Realized
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarningsRealized
14712000
CY2022Q1 abr Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings Realized
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarningsRealized
13388000
CY2023Q1 abr Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings Unrealized
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarningsUnrealized
3097000
CY2022Q1 abr Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings Unrealized
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarningsUnrealized
1355000
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
3097000
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1355000
CY2023Q1 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
MortgageServicingRightsMSRImpairmentRecovery
-10485000
CY2023Q1 abr Unrealized Impairment Losses
UnrealizedImpairmentLosses
1565000
CY2023Q1 abr Derivative Fair Value Adjustment
DerivativeFairValueAdjustment
8920000
CY2023Q1 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
1951731000
CY2023Q1 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
3006520000
CY2023Q1 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
1911367000
CY2023Q1 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
4915290000
CY2023Q1 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
993582000
CY2023Q1 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
187301000
CY2023Q1 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
174827000
CY2023Q1 us-gaap Contractual Obligation
ContractualObligation
13140618000
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
2600000
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
2400000
CY2023Q1 abr Loans And Investments Unfunded Commitments
LoansAndInvestmentsUnfundedCommitments
1050000000.00
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CY2023Q1 us-gaap Operating Expenses
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CY2023Q1 abr Income Loss From Continuing Operations Before Equity Method Investments Extinguishment Of Debt Sale Of Real Estate Income Taxes Noncontrolling Interest
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CY2022Q1 abr Income Loss From Continuing Operations Before Equity Method Investments Extinguishment Of Debt Sale Of Real Estate Income Taxes Noncontrolling Interest
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CY2022Q1 us-gaap Gains Losses On Extinguishment Of Debt
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CY2023Q1 us-gaap Servicing Asset At Amortized Value
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CY2023Q1 us-gaap Held To Maturity Securities
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CY2023Q1 us-gaap Assets
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CY2022Q4 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
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CY2022Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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CY2022Q4 us-gaap Assets
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CY2022Q4 us-gaap Liabilities
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CY2022Q1 abr Loans Originated
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975132000

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