Quarterly report pursuant to Section 13 or 15(d)

Business Segment Reporting (Details)

v3.22.2.2
Business Segment Reporting (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Mar. 31, 2021
Sep. 30, 2021
Sep. 30, 2022
Dec. 31, 2021
Segment Reporting Information [Line Items]            
Gain on sale and other income from loans held for sale, net $ 36,179 $ 210,095 $ 291,334 $ 397,672 $ 226,336  
Net fair value gains (losses) on loans and related obligations (6,376) 122,509 76,663 253,660 5,672  
Fee income 70,512 145,725 161,371 236,589 316,798  
Interest income 12,022 15,862 12,661 29,013 41,748  
Interest expense (41,236) (37,691) (34,366) (71,317) (110,900)  
Net interest income (expense) (29,214) (21,829) (21,705) (42,304) (69,152)  
TOTAL REVENUES 71,101 456,500 507,663 845,617 479,654  
Total expenses 258,921 411,878 373,314 812,630 933,471  
IMPAIRMENT OF INTANGIBLES AND OTHER ASSETS (138,184) 0 0 0 (138,184)  
Other, net 21,330 9,928 (8,892) 7,825 41,234  
NET INCOME (LOSS) BEFORE INCOME TAXES (304,674) 54,550 125,457 40,812 (550,767)  
Depreciation and amortization 17,392 16,492 3,484 32,954 50,866  
TOTAL ASSETS 21,189,897 22,668,093 20,100,419 22,668,093 21,189,897 $ 21,788,946
Operating segments            
Segment Reporting Information [Line Items]            
Gain on sale and other income from loans held for sale, net 39,518 213,958 291,546 407,092 237,910  
Net fair value gains (losses) on loans and related obligations (8,456) 123,709 76,630 240,290 (368)  
Fee income 77,127 148,630 154,759 276,760 345,085  
Interest income 11,913 15,779 12,649 29,022 41,451  
Interest expense (34,316) (30,848) (26,610) (57,990) (90,539)  
Net interest income (expense) (22,403) (15,069) (13,961) (28,968) (49,088)  
TOTAL REVENUES 85,786 471,228 508,974 895,174 533,539  
Total expenses 243,146 392,119 348,706 785,136 876,826  
IMPAIRMENT OF INTANGIBLES AND OTHER ASSETS (138,184)       (138,184)  
Other, net 1,672 628 1,080 711 7,754  
NET INCOME (LOSS) BEFORE INCOME TAXES (293,872) 79,737 161,348 110,749 (473,717)  
Depreciation and amortization 16,432 16,340 3,113 20,754 49,034  
TOTAL ASSETS 21,168,976 22,676,145 20,047,170 22,676,145 21,168,976  
Operating segments | Mortgage Originations            
Segment Reporting Information [Line Items]            
Gain on sale and other income from loans held for sale, net 46,310 200,294 286,481 385,680 239,430  
Net fair value gains (losses) on loans and related obligations 0 1,145 0 1,145 0  
Fee income 13,885 30,827 32,731 61,172 52,120  
Interest income 9,235 15,363 12,483 28,200 35,097  
Interest expense (8,156) (12,556) (11,592) (23,417) (26,770)  
Net interest income (expense) 1,079 2,807 891 4,783 8,327  
TOTAL REVENUES 61,274 235,073 320,103 452,780 299,877  
Total expenses 102,499 220,331 224,246 444,522 397,209  
IMPAIRMENT OF INTANGIBLES AND OTHER ASSETS (128,884) 0 0 0 (128,884)  
Other, net 0 0 0 0 0  
NET INCOME (LOSS) BEFORE INCOME TAXES (170,109) 14,742 95,857 8,258 (226,216)  
Depreciation and amortization 2,828 2,822 1,423 4,255 8,407  
TOTAL ASSETS 724,099 2,978,565 2,425,529 2,978,565 724,099 $ 2,148,500
Operating segments | Reverse Originations            
Segment Reporting Information [Line Items]            
Gain on sale and other income from loans held for sale, net 0 0 0 0 0  
Net fair value gains (losses) on loans and related obligations 71,204 109,408 68,449 203,944 254,830  
Fee income 936 1,022 524 1,976 4,875  
Interest income 0 0 0 0 0  
Interest expense 0 0 0 (9) 0  
Net interest income (expense) 0 0 0 (9) 0  
TOTAL REVENUES 72,140 110,430 68,973 205,911 259,705  
Total expenses 37,959 41,354 23,693 83,600 125,092  
IMPAIRMENT OF INTANGIBLES AND OTHER ASSETS 0       0  
Other, net 24 221 34 325 3,276  
NET INCOME (LOSS) BEFORE INCOME TAXES 34,205 69,297 45,314 122,636 137,889  
Depreciation and amortization 9,667 9,970 151 9,819 29,063  
TOTAL ASSETS 354,007 789,351 35,861 789,351 354,007  
Operating segments | Commercial Originations            
Segment Reporting Information [Line Items]            
Gain on sale and other income from loans held for sale, net 0 0 0 0 0  
Net fair value gains (losses) on loans and related obligations 1,061 13,604 5,431 24,425 556  
Fee income 11,416 14,252 8,930 26,376 45,233  
Interest income 0 0 0 0 0  
Interest expense 0 0 0 0 0  
Net interest income (expense) 0 0 0 0 0  
TOTAL REVENUES 12,477 27,856 14,361 50,801 45,789  
Total expenses 19,535 21,678 13,391 41,727 67,210  
IMPAIRMENT OF INTANGIBLES AND OTHER ASSETS (5,500)       (5,500)  
Other, net 130 133 149 273 418  
NET INCOME (LOSS) BEFORE INCOME TAXES (12,428) 6,311 1,119 9,347 (26,503)  
Depreciation and amortization 550 638 125 1,059 1,660  
TOTAL ASSETS 16,453 120,116 82,375 120,116 16,453  
Operating segments | Lender Services            
Segment Reporting Information [Line Items]            
Gain on sale and other income from loans held for sale, net (142) 0 0 0 (1,057)  
Net fair value gains (losses) on loans and related obligations 0 0 0 0 0  
Fee income 43,743 87,592 76,383 168,722 178,043  
Interest income 627 37 28 66 1,374  
Interest expense (62) (114) (64) (158) (146)  
Net interest income (expense) 565 (77) (36) (92) 1,228  
TOTAL REVENUES 44,166 87,515 76,347 168,630 178,214  
Total expenses 55,690 78,688 62,970 151,962 190,111  
IMPAIRMENT OF INTANGIBLES AND OTHER ASSETS 0       0  
Other, net 734 22 2 105 3,212  
NET INCOME (LOSS) BEFORE INCOME TAXES (10,790) 8,849 13,379 16,773 (8,685)  
Depreciation and amortization 3,278 2,892 1,268 5,710 9,602  
TOTAL ASSETS 203,157 358,684 125,317 358,684 203,157  
Operating segments | Portfolio Management            
Segment Reporting Information [Line Items]            
Gain on sale and other income from loans held for sale, net (6,650) 13,664 5,065 21,412 (463)  
Net fair value gains (losses) on loans and related obligations (80,721) (448) 2,750 10,776 (255,754)  
Fee income 7,147 14,937 36,191 18,514 64,814  
Interest income 2,051 379 138 756 4,980  
Interest expense (26,098) (18,178) (14,954) (34,406) (63,623)  
Net interest income (expense) (24,047) (17,799) (14,816) (33,650) (58,643)  
TOTAL REVENUES (104,271) 10,354 29,190 17,052 (250,046)  
Total expenses 27,463 30,068 24,406 63,325 97,204  
IMPAIRMENT OF INTANGIBLES AND OTHER ASSETS (3,800)       (3,800)  
Other, net 784 252 895 8 848  
NET INCOME (LOSS) BEFORE INCOME TAXES (134,750) (19,462) 5,679 (46,265) (350,202)  
Depreciation and amortization 109 18 146 (89) 302  
TOTAL ASSETS 19,871,260 18,429,429 17,378,088 18,429,429 19,871,260  
Corporate and Other            
Segment Reporting Information [Line Items]            
Gain on sale and other income from loans held for sale, net 0 0 0 0 0  
Net fair value gains (losses) on loans and related obligations 0 0 0 0 0  
Fee income 0 0 0 0 0  
Interest income 109 83 12 0 297  
Interest expense (6,920) (6,803) (7,756) (13,287) (20,361)  
Net interest income (expense) (6,811) (6,720) (7,744) (13,287) (20,064)  
TOTAL REVENUES (6,811) (6,720) (7,744) (13,287) (20,064)  
Total expenses 23,679 28,672 18,683 64,669 90,445  
IMPAIRMENT OF INTANGIBLES AND OTHER ASSETS 0       0  
Other, net 19,688 10,205 (9,464) 8,019 33,459  
NET INCOME (LOSS) BEFORE INCOME TAXES (10,802) (25,187) (35,891) (69,937) (77,050)  
Depreciation and amortization 960 152 371 12,200 1,832  
TOTAL ASSETS 1,581,538 964,815 379,562 964,815 1,581,538  
Elim            
Segment Reporting Information [Line Items]            
Gain on sale and other income from loans held for sale, net (3,339) (3,863) (212) (9,420) (11,574)  
Net fair value gains (losses) on loans and related obligations 2,080 (1,200) 33 13,370 6,040  
Fee income (6,615) (2,905) 6,612 (40,171) (28,287)  
Interest income 0 0 0 (9) 0  
Interest expense 0 (40) 0 (40) 0  
Net interest income (expense) 0 (40) 0 (49) 0  
TOTAL REVENUES (7,874) (8,008) 6,433 (36,270) (33,821)  
Total expenses (7,904) (8,913) 5,925 (37,175) (33,800)  
IMPAIRMENT OF INTANGIBLES AND OTHER ASSETS 0       0  
Other, net (30) (905) (508) (905) 21  
NET INCOME (LOSS) BEFORE INCOME TAXES 0 0 0 0 0  
Depreciation and amortization 0 0 0 0 0  
TOTAL ASSETS $ (1,560,617) $ (972,867) $ (326,313) $ (972,867) $ (1,560,617)