Quarterly report pursuant to Section 13 or 15(d)

WAREHOUSE LINES OF CREDIT (Tables)

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WAREHOUSE LINES OF CREDIT (Tables)
 9 Months Ended
Sep. 30, 2023
Line of Credit Facility [Abstract]  
Schedule of Warehouse Lines of Credit
Warehouse lines of credit consisted of the following at September 30, 2023 and December 31, 2022. Changes subsequent to September 30, 2023 have been described in the notes referenced with the below table.
Maturity as of September 30,
2023		 September 30, 2023 December 31, 2022
$345 million master repurchase facility agreement(1)
January 2024 $ 107,912  $ 47,565 
$150 million master repurchase facility agreement(2)
August 2024 113,126  10,848 
$300 million master repurchase facility agreement(3)
June 2024 173,377  189,512 
$200 million master repurchase facility agreement(4)
May 2024 84,020  110,605 
$200 million master repurchase facility agreement(5)
November 2023 82,721  16,131 
$300 million master repurchase facility agreement(6)
September 2024 128,197  81,353 
$100 million master repurchase facility agreement(7)
N/A —  56,237 
$50 million master repurchase facility agreement(8)
N/A 30,851  — 
$75 million master repurchase facility agreement(9)
March 2025 35,041  40,096 
$200 million master repurchase facility agreement(10)
N/A 86,906  162,454 
842,151  714,801 
Prepaid commitment fees (3,029) (1,650)
Net warehouse lines of credit $ 839,122  $ 713,151 
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(1)The variable interest rate is calculated using a base rate tied to SOFR.
(2)The variable interest rate is calculated using a base rate tied to SOFR, plus the applicable interest rate margin. This line of credit requires a minimum deposit of $750,000.
(3)The variable interest rate is calculated using a base rate tied to SOFR, plus the applicable interest rate margin. This facility requires a minimum deposit of $1.5 million.
(4)The variable interest rate is calculated using a base rate plus SOFR, with a floor of 0.375% plus the applicable interest rate margin.
(5)The variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.40%, plus the applicable interest rate margin.
(6)The variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.50%, plus the applicable interest rate margin.
(7)This facility matured in July 2023 and was not renewed.
(8)The variable interest rate is calculated using a base rate tied to SOFR, plus the applicable interest rate margin. This facility’s maturity date is 30 days from written notice by either the financial institution or the Company.
(9)The interest rate on this facility is 3.375%. This facility is used for GNMA delinquent buyouts. Each buyout represents a separate transaction that can remain on the facility for up to four years.
(10)This facility agreement is due on demand and the variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.75%.