| Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis |
The following are the major categories of financial assets and liabilities measured at fair value on a recurring basis (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | Description | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets: | | | | | | | | | | Mortgage loans at fair value | $ | — | | | $ | 10,991,101 | | | $ | — | | | $ | 10,991,101 | | | IRLCs | | — | | | — | | | 16,456 | | | 16,456 | | | FLSCs | | — | | | 108,034 | | | — | | | 108,034 | | | Investment securities at fair value, pledged | | — | | | 98,491 | | | — | | | 98,491 | | | Mortgage servicing rights | | — | | | — | | | 4,591,855 | | | 4,591,855 | | | Total assets | | $ | — | | | $ | 11,197,626 | | | $ | 4,608,311 | | | $ | 15,805,937 | | | Liabilities: | | | | | | | | | | IRLCs | | $ | — | | | $ | — | | | $ | 35,280 | | | $ | 35,280 | | | FLSCs | | — | | | 14,442 | | | — | | | 14,442 | | Other interest rate derivatives | | 239,882 | | | 48,213 | | | — | | | 288,095 | | | Total liabilities | | $ | 239,882 | | | $ | 62,655 | | | $ | 35,280 | | | $ | 337,817 | | | | | | | | | | | | | | December 31, 2025 | | Description | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets: | | | | | | | | | | Mortgage loans at fair value | $ | — | | | $ | 9,932,729 | | | $ | — | | | $ | 9,932,729 | | | IRLCs | | — | | | — | | | 27,780 | | | 27,780 | | | FLSCs | | — | | | 9,787 | | | — | | | 9,787 | | | Investment securities at fair value, pledged | | — | | | 100,512 | | | — | | | 100,512 | | | Mortgage servicing rights | | — | | | — | | | 4,073,781 | | | 4,073,781 | | | Total assets | | $ | — | | | $ | 10,043,028 | | | $ | 4,101,561 | | | $ | 14,144,589 | | | Liabilities: | | | | | | | | | | IRLCs | | $ | — | | | $ | — | | | $ | 6,475 | | | $ | 6,475 | | | FLSCs | | — | | | 20,099 | | | — | | | 20,099 | | | Total liabilities | | $ | — | | | $ | 20,099 | | | $ | 6,475 | | | $ | 26,574 | |
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| Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis |
The following table presents the carrying amounts and estimated fair value of the Company's financial liabilities that are not measured at fair value on a recurring or nonrecurring basis (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | December 31, 2025 | | | Carrying Amount | | Estimated Fair Value | | Carrying Amount | | Estimated Fair Value | | 2027 Senior Notes, due 6/15/27 | | $ | 498,953 | | | $ | 493,355 | | | $ | 498,736 | | | $ | 502,120 | | | 2029 Senior Notes, due 4/15/29 | | 697,339 | | | 656,502 | | | 697,120 | | | 695,205 | | 2030 Senior Notes, due 2/1/30 | | 794,672 | | | 755,304 | | | 794,324 | | | 810,040 | | 2031 Senior Notes, due 3/15/31 | | 992,188 | | | 912,760 | | | 991,795 | | | 998,580 | | Total senior notes | | $ | 2,983,152 | | | $ | 2,817,921 | | | $ | 2,981,975 | | | $ | 3,005,945 | |
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