v3.23.1
Fair Value Disclosures (Tables)
 6 Months Ended
Apr. 30, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]  
Summary of assets and (liabilities), measured at fair value on a recurring basis The table below provides, as of the dates indicated, a summary of assets/(liabilities) related to our financial instruments, measured at fair value on a recurring basis (amounts in thousands):
  Fair value
Financial InstrumentFair value
hierarchy		April 30,
2023		October 31, 2022
Residential Mortgage Loans Held for SaleLevel 2$112,603 $185,150 
Forward Loan Commitments — Residential Mortgage Loans Held for SaleLevel 2$1,396 $9,184 
Interest Rate Lock Commitments (“IRLCs”)Level 2$(2,884)$(17,734)
Forward Loan Commitments — IRLCsLevel 2$2,884 $17,734 
Interest Rate Swap ContractsLevel 2$33,214 $45,010 
Aggregate unpaid principal and fair value of mortgage loans held for sale The table below provides, as of the dates indicated, the aggregate unpaid principal and fair value of mortgage loans held for sale (amounts in thousands):
Aggregate unpaid
principal balance		Fair valueFair value
greater (less) than principal balance
At April 30, 2023$115,286 $112,603 $(2,683)
At October 31, 2022$193,746 $185,150 $(8,596)
Book value and estimated fair value of the Company's debt
The table below provides, as of the dates indicated, the book value, excluding any bond discounts, premiums, and deferred issuance costs, and estimated fair value of our debt (amounts in thousands):
 April 30, 2023October 31, 2022
 Fair value
hierarchy		Book valueEstimated
fair value		Book valueEstimated
fair value
Loans payable (1)
Level 2$1,139,869 $1,123,766 $1,187,043 $1,180,893 
Senior notes (2)
Level 11,600,000 1,536,985 2,000,000 1,822,255 
Mortgage company loan facility (3)
Level 2102,489 102,489 148,863 148,863 
$2,842,358 $2,763,240 $3,335,906 $3,152,011 
(1)    The estimated fair value of loans payable was based upon contractual cash flows discounted at interest rates that we believed were available to us for loans with similar terms and remaining maturities as of the applicable valuation date.
(2)    The estimated fair value of our senior notes is based upon their market prices as of the applicable valuation date.
(3)    We believe that the carrying value of our mortgage company loan borrowings approximates their fair value.