Annual report pursuant to Section 13 and 15(d)

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

v3.24.0.1
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Net Unrealized Hedging Gains
Changes in the fair value of the Company's derivative financial instruments are as follows for the years ended December 31, 2023 and 2022:
2023 2022
Unrealized hedging gains (losses)
 $ 1,404  $ (27,936)
Schedule of Notional and Fair Value of Derivative Financial Instruments Not Designated as Hedging Instruments
The notional and fair value of derivative financial instruments not designated as hedging instruments were as follows at December 31, 2023 and 2022:
Fair Value
Notional
Value		 Derivative
Asset		 Derivative
Liability
Balance at December 31, 2023
IRLCs $ 821,865  $ 14,902  $ — 
Forward delivery commitments and best efforts sales commitments $ 933,850  $ 693  $ 16,245 
Balance at December 31, 2022
IRLCs $ 810,514  $ 1,518  $ — 
Forward delivery commitments and best efforts sales commitments $ 1,127,154  $ 1,602  $ 5,173 
Schedule of Quantitative Information About IRLCs and Fair Value Measurements
The following table presents the quantitative information about IRLCs and the fair value measurements as of December 31, 2023 and 2022:
2023 2022
Unobservable Input Range (Weighted Average)
Loan funding probability (“pull-through”)
0% - 100% (86.5%)
0% - 100% (93.4%)
Schedule of Financial Liabilities are Subject to Master Netting Arrangements or Similar Agreements Categorized by Financial Instrument
The table below represents financial assets and liabilities that are subject to master netting arrangements categorized by financial instrument:
Gross
Amounts of
Recognized Assets (Liabilities)		 Gross
Amounts
Offset in the
Balance
Sheet
Cash Collateral Paid and Offset in the Balance Sheet
 Net
Amounts of
Recognized
Assets (Liabilities) in
the Balance
Sheet
December 31, 2023
Forward delivery commitments
$ 8  $ (2,837) 3,522  $ 693 
Total assets $ 8  $ (2,837) $ 3,522  $ 693 
Forward delivery commitments and best efforts sales commitments $ (18,105) $ 148  $ 1,712  $ (16,245)
Total liabilities $ (18,105) $ 148  $ 1,712  $ (16,245)
December 31, 2022
Forward delivery commitments $ 1,887  $ (285) $ —  $ 1,602 
Total assets $ 1,887  $ (285) $ —  $ 1,602 
Forward delivery commitments and best efforts sales commitments $ (11,399) $ 4,959  $ 1,267  $ (5,173)
Total liabilities $ (11,399) $ 4,959  $ 1,267  $ (5,173)