DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2020
DERIVATIVE INSTRUMENTS  
Summary of total notional amounts and fair values for derivatives

The following table presents the total notional amounts and fair values for the Company's derivatives (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notional

 

Fair Value Derivatives

As of December 31, 2020

    

Amount

    

Asset

    

Liability

Interest rate lock commitments

 

$

15,130

 

$

373

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notional

 

Fair Value Derivatives

As of December 31, 2019

    

Amount

    

Asset

    

Liability

Interest rate caps

 

$

100,000

 

$

 4

 

$

 —

Interest rate lock commitments

 

$

3,429

 

$

95

 

$

 —

Embedded conversion options

 

$

180,252

 

$

 —

 

$

41,697

 

Summary of net gains and losses recognized on derivatives within the respective line items in the statement of operations

The following table presents the net gains and losses recognized on derivatives within the respective line items in the statement of operations for the periods indicated (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended

 

 

December 31,

 

    

2020

    

2019

    

2018

Revenue

 

$

278

 

$

95

 

$

 —

Derivative and warrant fair value adjustment

 

$

(23,317)

 

$

 —

 

$

 —

Other income, net

 

$

(4)

 

$

(773)

 

$

420