v3.26.1
Loans Held-for-Sale, Net
 6 Months Ended
Jun. 30, 2026
Receivable, Held-for-Sale [Abstract]  
Loans Held-for-Sale, Net Loans Held-for-Sale, Net
Our GSE loans held-for-sale are typically sold within 60 days of loan origination, while our non-GSE loans are generally expected to be sold to third parties or securitized within 180 days of loan origination. Loans held-for-sale, net consists of the following ($ in thousands):
June 30, 2026December 31, 2025
Fannie Mae$180,834 $303,196 
Freddie Mac108,824 2,225 
Private Label77,729 77,798 
FHA8,083 22,390 
SFR - Fixed Rate2,777 2,777 
378,247 408,386 
Fair value of future MSR3,939 5,921 
Unrealized impairment recovery (loss)1,002 1,414 
Unearned discount(7,391)(6,640)
Loans held-for-sale, net$375,797 $409,081 
During the three and six months ended June 30, 2026, we sold $1.14 billion and $1.81 billion, respectively, of loans held-for-sale. During the three and six months ended June 30, 2025, we sold $807.0 million and $1.54 billion, respectively, of loans held-for-sale.
At June 30, 2026 and December 31, 2025, there were no loans held-for-sale that were 90 days or more past due, and there were no loans held-for-sale that were placed on a non-accrual status.