Quarterly report pursuant to Section 13 or 15(d)

Goodwill

v3.21.2
Goodwill
6 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill
13.
Goodwill
Goodwill consisted of the following (in thousands):
 
    
April 1, 2021
to
June 30, 2021
         
January 1, 2021
to

March 31, 2021
    
For the three
months ended
June 30, 2020
    
For the six
months ended
June 30, 2020
 
    
Successor
         
Predecessor
 
Beginning balance
  
$
   
 
   $ 121,233      $ 121,137      $ 121,137  
Additions from acquisitions
  
 
1,298,324
   
 
     7,517        617        617  
    
 
 
        
 
 
    
 
 
    
 
 
 
Ending balance
  
$
1,298,324
         $ 128,750      $ 121,754      $ 121,754  
    
 
 
        
 
 
    
 
 
    
 
 
 
 
For the Successor period, the goodwill beginning balance was established as a result of the Business Combination and changes during the period are attributable to additional acquisitions. Refer to Note 4—Acquisitions for additional details regarding these acquisitions. The Company did not identify any impairment for the Successor period from April 1, 2021 to June 30, 2021, the Predecessor period of January 1, 2021 to March 31, 2021 nor the Predecessor periods for the three months ended and six months ended June 30, 2020. Goodwill is reviewed for impairment utilizing a qualitative assessment or a quantitative goodwill impairment test and determined that it was more likely than not that no impairment of goodwill existed as of the evaluation date.
The amount of goodwill allocated to each reporting unit consisted of the following (in thousands):
 
    
June 30, 2021
         
December 31, 2020
 
    
Successor
         
Predecessor
 
Reporting units:
          
 
        
Mortgage Originations
  
$
711,306
   
 
   $ 44,429  
Reverse Originations
  
 
404,441
   
 
     —    
Commercial Originations
  
 
75,350
   
 
     43,113  
Lender Services
  
 
100,128
   
 
     25,247  
Portfolio Management
  
 
7,099
   
 
     8,444  
    
 
 
        
 
 
 
Total goodwill
  
$
1,298,324
         $ 121,233