Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Financial Condition

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Condensed Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents $ 48,229 [1] $ 46,482
Restricted cash 195,349 [1] 178,319
Loans held for investment, subject to Home Equity Conversion Mortgage-Backed Securities (“HMBS”) related obligations, at fair value 18,050,772 17,548,763
Loans held for investment, subject to nonrecourse debt, at fair value 8,407,602 8,272,393
Loans held for investment, at fair value 535,910 575,228
Intangible assets, net 244,233 253,531
Other assets, net 194,183 226,153
Assets of discontinued operations 7,290 6,721
TOTAL ASSETS 27,683,568 27,107,590
LIABILITIES AND EQUITY    
HMBS related obligations, at fair value 17,827,060 17,353,720
Nonrecourse debt, at fair value 7,897,896 7,904,200
Other financing lines of credit 1,071,191 928,479
Notes payable, carrying value 436,193 410,911
Payables and other liabilities 174,858 219,569
Liabilities of discontinued operations 20,647 18,304
TOTAL LIABILITIES 27,427,845 26,835,183
Commitments and Contingencies (Note 13)
EQUITY (Note 19)    
Additional paid-in capital 950,588 946,929
Accumulated deficit (721,921) (714,383)
Accumulated other comprehensive loss (266) (249)
Noncontrolling interest 27,312 40,100
TOTAL EQUITY 255,723 272,407
TOTAL LIABILITIES AND EQUITY 27,683,568 27,107,590
Common Class A    
EQUITY (Note 19)    
Common stock, value 10 10
Common Class B    
EQUITY (Note 19)    
Common stock, value $ 0 $ 0
[1]
(1) Amounts presented contain results from both continuing and discontinued operations. Refer to Note 4 - Discontinued Operations for additional information regarding cash flow associated with the results of discontinued operations.