Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2022
Operating Activities      
Net income (loss) $ (14,824) $ 124,320 $ (231,818)
Adjustments to reconcile net income (loss) to net cash provided by operating activities: 5,172 (6,277) 986,478
Net cash provided by (used in) operating activities (9,652) 118,043 754,660
Investing Activities      
Purchases and originations of loans held for investment (1,241,085) (1,151,925) (3,776,445)
Proceeds/payments received on loans held for investment 689,215 677,777 1,278,493
Purchases and origination of loans held for investment, subject to nonrecourse debt (12,319) (12,247) (58,549)
Proceeds/payments on loans held for investment, subject to nonrecourse debt 251,152 217,452 1,160,149
Purchases of debt securities (1,449) (557) (6,848)
Proceeds/payments on debt securities 1,888 2,096 912
Purchases of MSRs (61) (9,014) 0
Proceeds on sale of MSRs 0 7,765 191,707
Acquisition of subsidiaries, net of cash acquired (20,000) (749) 0
Acquisition of fixed assets (4,915) (4,178) (7,425)
Payments on deferred purchase price liability (311) (657) (8,000)
Debtor in possession ("DIP") Financing 0 (35,260) 0
Other investing activities, net 0 (2,550) 88
Net cash used in investing activities (337,885) (312,047) (1,225,918)
Financing Activities      
Proceeds from issuance of HMBS related obligations 795,334 602,172 1,933,150
Payments of HMBS related obligations (597,892) (506,142) (1,438,537)
Proceeds from issuance of nonrecourse debt 600,595 579,518 1,929,163
Payments on nonrecourse debt (498,966) (658,300) (1,082,466)
Proceeds from other financing lines of credit 8,758,149 10,027,696 14,315,000
Payments on other financing lines of credit (8,620,873) (9,660,588) (15,069,153)
Debt issuance costs (580) (2,467) (373)
Payment of withholding taxes relating to equity based compensation 0 0 (5,029)
Member distributions 0 (75,000) 0
Settlement of CRNCI (203,216) 0 0
Other financing activities, net (114) 806 (150)
Net cash provided by financing activities 232,437 307,695 581,605
Foreign currency translation adjustment (1) (7) (152)
Net increase (decrease) in cash and restricted cash (115,101) 113,684 110,195
Cash and restricted cash, beginning of period 653,047 539,363 463,641
Cash and restricted cash, end of period   653,047 573,836
Cash and restricted cash, beginning of period 626,827    
Cash and restricted cash, beginning of period 511,726 626,827  
Supplementary Cash Flows Information      
Cash paid for interest 68,186 50,071 117,351
Cash paid for income taxes, net 1,521 63 25
Loans transferred to loans held for investment, at fair value, from loans held for investment, subject to nonrecourse debt, at fair value 242,650 283,428 488,649
Loans transferred to loans held for investment, subject to nonrecourse debt, at fair value from loans held for investment, at fair value 505,378 272,098 2,540,338
Loans transferred to loans held for investment, subject to HMBS, at fair value from loans held for investment, at fair value $ 701,375 $ 42,909 $ 1,646,710