Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net income (loss) $ (63,995) $ 124,320
Adjustments to reconcile net income (loss) to net cash provided by operating activities: 387,736 (6,277)
Net cash provided by operating activities 323,741 118,043
Investing Activities    
Purchases and originations of loans held for investment (1,848,155) (1,151,925)
Proceeds/payments received on loans held for investment 614,074 677,777
Purchases and origination of loans held for investment, subject to nonrecourse debt (30,342) (12,247)
Proceeds/payments on loans held for investment, subject to nonrecourse debt 585,148 217,452
Purchases of debt securities (9,159) (557)
Proceeds/payments on debt securities 519 2,096
Purchases of mortgage servicing rights 0 (9,014)
Proceeds on sale of mortgage servicing rights 96,887 7,765
Acquisition of subsidiaries, net of cash acquired 0 (749)
Acquisition of fixed assets (4,176) (4,178)
Debtor in possession ("DIP") Financing 0 (35,260)
Other investing activities, net (4,901) (3,207)
Net cash used in investing activities (600,105) (312,047)
Financing Activities    
Proceeds from issuance of HMBS related obligations 948,682 602,172
Payments of HMBS related obligations (737,327) (506,142)
Proceeds from issuance of nonrecourse debt 1,114,665 579,518
Payments on nonrecourse debt (812,572) (658,300)
Proceeds from other financing lines of credit 7,434,937 10,027,696
Payments on other financing lines of credit (7,592,623) (9,660,588)
Debt issuance costs (234) (2,467)
Member distributions 0 (75,000)
Other financing activities, net 10 806
Net cash provided by financing activities 355,538 307,695
Foreign currency translation adjustment 11 (7)
Net increase in cash and restricted cash 79,185 113,684
Cash and restricted cash, beginning of period 463,641 539,363
Cash and restricted cash, end of period 542,826 653,047
Supplementary Cash Flows Information    
Cash paid for interest 55,142 50,071
Cash paid for income taxes, net 22 63
Loans transferred to loans held for investment, at fair value, from loans held for investment, subject to nonrecourse debt, at fair value 478,208 283,499
Loans transferred to loans held for investment, subject to nonrecourse debt, at fair value from loans held for investment, at fair value 1,366,898 272,098
Loans transferred to loans held for investment, subject to HMBS, at fair value, from loans held for investment, at fair value 773,959 0
Loans transferred to loans held for investment, at fair value, from loans held for sale, at fair value $ 0 $ 42,909