14 unchanged sentences
The fair value change related to the hedging instruments generally offsets the fair value change in the uncommitted loans.
−Removed: The net fair value change, which for the three and nine months ended June 30, 2021 and 2020 was not significant, is recognized in current earnings.
−Removed: At June 30, 2021, hedging instruments used to mitigate interest rate risk related to uncommitted mortgage loans held for sale and uncommitted IRLCs totaled a notional amount of $2.9 billion.
−Removed: Uncommitted IRLCs totaled a notional amount of approximately $1.9 billion and uncommitted mortgage loans held for sale totaled a notional amount of approximately $1.0 billion at June 30, 2021.
+Added: The net fair value change, which for the three months ended December 31, 2021 and 2020 was not significant, is recognized in current earnings.
+Added: At December 31, 2021, hedging instruments used to mitigate interest rate risk related to uncommitted mortgage loans held for sale and uncommitted IRLCs totaled a notional amount of $2.8 billion.
+Added: Uncommitted IRLCs totaled a notional amount of approximately $1.7 billion and uncommitted mortgage loans held for sale totaled a notional amount of approximately $1.1 billion at December 31, 2021.
We also use hedging instruments as part of a program to offer below market interest rate financing to our homebuyers.
−Removed: At June 30, 2021 and September 30, 2020, we had MBS totaling $862.4 million and $1.1 billion, respectively, that did not yet have IRLCs or closed loans created or assigned and recorded a liability of $1.9 million and $5.3 million, respectively, for the fair value of such MBS position.
−Removed: The following table sets forth principal cash flows by scheduled maturity, effective weighted average interest rates and estimated fair value of our debt obligations as of June 30, 2021.
+Added: At December 31, 2021 and September 30, 2021, we had MBS totaling $1.2 billion and $834.6 million, respectively, that did not yet have IRLCs or closed loans created or assigned and recorded an asset of $1.3 million and $1.1 million, respectively, for the fair value of such MBS position.
+Added: The following table sets forth principal cash flows by scheduled maturity, effective weighted average interest rates and estimated fair value of our debt obligations as of December 31, 2021.
Because the mortgage repurchase facility is effectively secured by certain mortgage loans held for sale that are typically sold within 60 days, its outstanding balance is included in the most current period presented.
−Removed: The interest rate for our variable rate debt represents the weighted average interest rate in effect at June 30, 2021.
−Removed: September 30, 2021 Fiscal Year Ending September 30, Fair Value at June 30, 2021
+Added: The interest rate for our variable rate debt represents the weighted average interest rate in effect at December 31, 2021.
+Added: September 30, 2022 Fiscal Year Ending September 30, Fair Value at December 31, 2021
2023 2024 2025 2026 2027 Thereafter Total
5 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.