Annual report pursuant to Section 13 and 15(d)

WAREHOUSE LINES OF CREDIT (Tables)

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WAREHOUSE LINES OF CREDIT (Tables)
 12 Months Ended
Dec. 31, 2022
Line of Credit Facility [Abstract]  
Summary of Warehouse Lines of Credit
Warehouse lines of credit consisted of the following at December 31, 2022 and 2021. Changes subsequent to December 31, 2022 have been described in the notes referenced with the below table.
Maturity as of December 31,
2022		 2022 2021
$600 million master repurchase facility agreement(1)
January 2023 $ 47,565  $ 472,646 
$150 million master repurchase facility agreement(2)
August 2023 10,848  147,750 
$300 million master repurchase facility agreement(3)
March 2023 189,512  295,444 
$200 million master repurchase facility agreement(4)
May 2023 110,605  146,182 
$200 million master repurchase facility agreement(5)
September 2023 16,131  133,772 
$400 million master repurchase facility agreement(6)
June 2023 81,353  377,416 
$100 million master repurchase facility agreement(7)
April 2023 56,237  117,935 
$50 million master repurchase facility agreement(8)
N/A —  136,173 
$75 million master repurchase facility agreement(9)
March 2025 40,096  33,452 
$200 million master repurchase facility agreement(10)
N/A —  26,947 
$200 million master repurchase facility agreement(11)
N/A 162,454  35,099 
$75 million master repurchase facility agreement(12)
N/A —  5,727 
714,801  1,928,543 
Prepaid commitment fees (1,650) (1,065)
Net warehouse lines of credit $ 713,151  $ 1,927,478 
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(1)The variable interest rate is calculated using a base rate tied to the Secured Overnight Financing Rate ("SOFR"). Subsequent to December 31, 2022, this facility was reduced to $345.0 million and the agreement was amended to extend the maturity date to January 2024.
(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 to $1.5 million.
(4)The variable interest rate is calculated using a base rate plus SOFR, with a floor of 0.25% 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. Subsequent to December 31, 2022, this facility was reduced to $300.0 million.
(7)The variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.25%, plus the applicable interest rate margin.
(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 matured in January 2022 and was not renewed.
(11)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%.
(12)This facility was terminated prior to maturity.