Quarterly report pursuant to Section 13 or 15(d)

Derivatives (Tables)

v3.23.1
Derivatives (Tables)
 3 Months Ended
Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Derivative Assets and Income (Loss) Related To Derivatives
Sunlight’s contract derivatives are recorded at fair value in the accompanying Unaudited Condensed Consolidated Balance Sheets as follows:
Balance Sheet Location March 31, 2023 December 31, 2022
Contract derivative 2 Other assets $ 293  $ 449 
The following table summarizes all income (loss) recorded in relation to derivatives:

For the Three Months Ended March 31,
2023 2022
Change in fair value of contract derivatives, net
Contract derivative 1 $ —  $ (421)
Contract derivative 2 (156) 194 
$ (156) $ (227)
Realized gains (losses) on contract derivatives, net
Contract derivative 1 $ —  $ 1,831 
Contract derivative 2 123  78 
$ 123  $ 1,909 
Summary of Notional Amounts of Derivatives
The following table summarizes notional amounts related to derivatives:

March 31, 2023 December 31, 2022
Contract derivative 2(a)
25,202  38,805 
a.Represents the unpaid principal balance of the Loans at time of sale to the Indirect Channel Loan Purchaser for which Sunlight is entitled to income in the event of prepayment of the Indirect Channel Loans.