Current report filing

Business Segment Reporting (Details)

v3.23.2
Business Segment Reporting (Details)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2021
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2022
USD ($)
segment
Dec. 31, 2020
USD ($)
Segment Reporting Information [Line Items]          
Gain (loss) on sale and other income from loans held for sale, net $ 5,065 $ 35,800   $ (5,931) $ 10,192
Net fair value gains (losses) on loans and related obligations 71,198       296,127
Fee income 36,547 41,686   81,815 32,530
Interest income 150 2,334   6,038 729
Interest expense (22,710) (73,232)   (118,649) (82,955)
Net interest expense (22,560)       (82,226)
TOTAL REVENUES 90,250 297,609   52,762 256,623
TOTAL EXPENSES 67,232 304,531   418,226 235,344
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS 0 (425,777)   (9,528) 0
Other, net (9,043) 10,684   31,992 (6,131)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 13,975 (422,015)   (343,000) 15,148
Depreciation and amortization 771       3,012
TOTAL ASSETS 17,473,006 21,788,946 $ 21,788,946 $ 20,872,655 17,010,299
Number of reportable segments | segment       3  
Continuing Operations          
Segment Reporting Information [Line Items]          
Gain (loss) on sale and other income from loans held for sale, net   35,800   $ (5,931)  
Net fair value gains (losses) on loans and related obligations   291,021   89,489  
Fee income   41,686   81,815  
Interest income   2,334   6,038  
Interest expense   (73,232)   (118,649)  
Net interest expense   (70,898)   (112,611)  
TOTAL REVENUES   297,609   52,762  
TOTAL EXPENSES   304,531   418,226  
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS   (425,777)   (9,528)  
Other, net   10,684   31,992  
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES   (422,015)   (343,000)  
Depreciation and amortization     30,576 42,028  
TOTAL ASSETS   19,469,375 19,469,375 20,559,295  
Operating segments          
Segment Reporting Information [Line Items]          
Gain (loss) on sale and other income from loans held for sale, net 5,065       10,192
Net fair value gains (losses) on loans and related obligations 71,199       296,129
Fee income 36,715       29,839
Interest income 138       714
Interest expense (14,954)       (73,877)
Net interest expense (14,816)       (73,163)
TOTAL REVENUES 98,163       262,997
TOTAL EXPENSES 48,099       178,073
Other, net 929       0
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 50,993       84,924
Depreciation and amortization 297       1,027
TOTAL ASSETS 17,413,949       16,921,661
Operating segments | Continuing Operations          
Segment Reporting Information [Line Items]          
Gain (loss) on sale and other income from loans held for sale, net   35,800   (5,931)  
Net fair value gains (losses) on loans and related obligations   286,400   88,577  
Fee income   41,675   82,287  
Interest income   2,058   5,362  
Interest expense   (52,989)   (90,980)  
Net interest expense   (50,931)   (85,618)  
TOTAL REVENUES   312,944   79,315  
TOTAL EXPENSES   230,069   306,347  
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS   (425,777)   (7,300)  
Other, net   1,418   4,150  
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES   (341,484)   (230,182)  
Depreciation and amortization     29,151 38,973  
TOTAL ASSETS   19,343,316 19,343,316 20,483,340  
Operating segments | Retirement Solutions          
Segment Reporting Information [Line Items]          
Gain (loss) on sale and other income from loans held for sale, net 0       0
Net fair value gains (losses) on loans and related obligations 68,449       192,257
Fee income 524       1,837
Interest income 0       0
Interest expense 0       0
Net interest expense 0       0
TOTAL REVENUES 68,973       194,094
TOTAL EXPENSES 23,693       87,219
Other, net 34       0
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 45,314       106,875
Depreciation and amortization 151       897
TOTAL ASSETS 35,861       25,841
Operating segments | Retirement Solutions | Continuing Operations          
Segment Reporting Information [Line Items]          
Gain (loss) on sale and other income from loans held for sale, net   (4,150)   367  
Net fair value gains (losses) on loans and related obligations   317,138   283,808  
Fee income   11,220   15,526  
Interest income   1,031   43  
Interest expense   (364)   (54)  
Net interest expense   667   (11)  
TOTAL REVENUES   324,875   299,690  
TOTAL EXPENSES   137,872   182,287  
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS   (413,868)   (3,500)  
Other, net   248   3,290  
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES   (226,617)   117,193  
Depreciation and amortization     29,019 38,654  
TOTAL ASSETS   368,927 368,927 297,361  
Operating segments | Portfolio Management          
Segment Reporting Information [Line Items]          
Gain (loss) on sale and other income from loans held for sale, net 5,065       10,192
Net fair value gains (losses) on loans and related obligations 2,750       103,872
Fee income 36,191       28,002
Interest income 138       714
Interest expense (14,954)       (73,877)
Net interest expense (14,816)       (73,163)
TOTAL REVENUES 29,190       68,903
TOTAL EXPENSES 24,406       90,854
Other, net 895       0
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 5,679       (21,951)
Depreciation and amortization 146       130
TOTAL ASSETS 17,378,088       16,895,820
Operating segments | Portfolio Management | Continuing Operations          
Segment Reporting Information [Line Items]          
Gain (loss) on sale and other income from loans held for sale, net   39,950   (6,298)  
Net fair value gains (losses) on loans and related obligations   (30,738)   (195,231)  
Fee income   30,455   66,761  
Interest income   1,027   5,319  
Interest expense   (52,625)   (90,926)  
Net interest expense   (51,598)   (85,607)  
TOTAL REVENUES   (11,931)   (220,375)  
TOTAL EXPENSES   92,197   124,060  
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS   (11,909)   (3,800)  
Other, net   1,170   860  
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES   (114,867)   (347,375)  
Depreciation and amortization     132 319  
TOTAL ASSETS   18,974,389 18,974,389 20,185,979  
Corporate and Other          
Segment Reporting Information [Line Items]          
Gain (loss) on sale and other income from loans held for sale, net 0       0
Net fair value gains (losses) on loans and related obligations 0       0
Fee income 7,936       25,392
Interest income 12       15
Interest expense (7,756)       (8,946)
Net interest expense (7,744)       (8,931)
TOTAL REVENUES 192       16,461
TOTAL EXPENSES 27,746       80,106
Other, net (9,464)       (6,131)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (37,018)       (69,776)
Depreciation and amortization 474       1,985
TOTAL ASSETS 385,370       88,638
Corporate and Other | Continuing Operations          
Segment Reporting Information [Line Items]          
Gain (loss) on sale and other income from loans held for sale, net   0   0  
Net fair value gains (losses) on loans and related obligations   0   0  
Fee income   25,243   27,578  
Interest income   276   676  
Interest expense   (20,243)   (27,669)  
Net interest expense   (19,967)   (26,993)  
TOTAL REVENUES   5,276   585  
TOTAL EXPENSES   101,005   139,014  
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS   0   (2,228)  
Other, net   15,198   27,839  
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES   (80,531)   (112,818)  
Depreciation and amortization     1,425 3,055  
TOTAL ASSETS   1,083,412 1,083,412 1,610,355  
Eliminations          
Segment Reporting Information [Line Items]          
Gain (loss) on sale and other income from loans held for sale, net 0       0
Net fair value gains (losses) on loans and related obligations (1)       (2)
Fee income (8,104)       (22,701)
Interest income 0       0
Interest expense 0       (132)
Net interest expense 0       (132)
TOTAL REVENUES (8,105)       (22,835)
TOTAL EXPENSES (8,613)       (22,835)
Other, net (508)       0
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 0       0
Depreciation and amortization 0       0
TOTAL ASSETS $ (326,313)       $ 0
Eliminations | Continuing Operations          
Segment Reporting Information [Line Items]          
Gain (loss) on sale and other income from loans held for sale, net   0   0  
Net fair value gains (losses) on loans and related obligations   4,621   912  
Fee income   (25,232)   (28,050)  
Interest income   0   0  
Interest expense   0   0  
Net interest expense   0   0  
TOTAL REVENUES   (20,611)   (27,138)  
TOTAL EXPENSES   (26,543)   (27,135)  
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS      
Other, net   (5,932)   3  
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES   0   0  
Depreciation and amortization     0 0  
TOTAL ASSETS   $ (957,353) $ (957,353) $ (1,534,400)