| Schedule of Net Gains on Investments and Financings |
Net gains on loans held for sale are summarized below:
|
|
|
|
|
|
|
|
|
|
|
Quarter ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
|
(in thousands) |
|
From nonaffiliates: |
|
|
|
|
|
|
Cash losses: |
|
|
|
|
|
|
Sales of loans |
|
$ |
(40,257 |
) |
|
$ |
(1,915 |
) |
Hedging activities |
|
|
39,071 |
|
|
|
(58,062 |
) |
|
|
|
(1,186 |
) |
|
|
(59,977 |
) |
Non-cash gains: |
|
|
|
|
|
|
Receipt of MSRs in mortgage loan sale transactions |
|
|
40,281 |
|
|
|
47,009 |
|
Provision for losses relating to representations and warranties provided in loan sales: |
|
|
|
|
|
|
Pursuant to loan sales |
|
|
(310 |
) |
|
|
(304 |
) |
Reduction of liability due to change in estimate |
|
|
442 |
|
|
|
1,168 |
|
|
|
|
132 |
|
|
|
864 |
|
Changes in fair value of loans and derivatives |
|
|
|
|
|
|
Interest rate lock commitments |
|
|
(5,621 |
) |
|
|
4,174 |
|
Loans |
|
|
13,304 |
|
|
|
(13,444 |
) |
Hedging derivatives |
|
|
(24,000 |
) |
|
|
31,703 |
|
Total changes in fair value of loans and derivatives |
|
|
(16,317 |
) |
|
|
22,433 |
|
Total non-cash gains |
|
|
24,096 |
|
|
|
70,306 |
|
Total from nonaffiliates |
|
|
22,910 |
|
|
|
10,329 |
|
From PFSI ‒ cash gains |
|
|
— |
|
|
|
2,015 |
|
|
|
$ |
22,910 |
|
|
$ |
12,344 |
|
|