REGULATORY CAPITAL AND LIQUIDITY REQUIREMENTS |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Mortgage Banking [Abstract] | |
| REGULATORY CAPITAL AND LIQUIDITY REQUIREMENTS | NOTE 15—REGULATORY CAPITAL AND LIQUIDITY REQUIREMENTS Certain secondary market investors and state regulators require the Company to maintain minimum net worth and capital requirements. To the extent that these requirements are not met, secondary market investors and/or the state regulators may utilize a range of remedies including sanctions, and/or suspension or termination of selling and servicing agreements, which may prohibit the Company from originating, securitizing or servicing these specific types of mortgage loans. The Company is subject to certain minimum net worth, minimum capital ratio and minimum liquidity requirements established by the Federal Housing Finance Agency ("FHFA") for Fannie Mae and Freddie Mac Seller/Servicers, and Ginnie Mae for single family issuers. The most restrictive of the minimum net worth and capital requirements require the Company to maintain a minimum adjusted net worth balance of $282.8 million and $277.0 million as of March 31, 2025 and December 31, 2024, respectively. As of March 31, 2025 and December 31, 2024, the Company was in compliance with this requirement.
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