Quarterly report pursuant to Section 13 or 15(d)

Business Segment Reporting (Details)

v3.23.2
Business Segment Reporting (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Segment Reporting Information [Line Items]          
Fee income $ 13,824 $ 6,840 $ 20,176 $ 62,013  
Interest income 3,200 1,609 5,291 2,793  
Interest expense (31,734) (27,025) (63,290) (50,505)  
TOTAL REVENUES (111,897) (21,174) 28,958 24,884  
TOTAL EXPENSES 110,005 112,819 193,782 224,029  
OTHER, NET (1,937) 14,154 (1,001) 17,138  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (223,839) (119,839) (165,825) (182,007)  
TOTAL ASSETS 26,548,670   26,548,670   $ 20,872,655
Continuing Operations          
Segment Reporting Information [Line Items]          
Loss on sale and other income from loans held for sale, net (4,054) (4,763) (16,480) 5,448  
Net fair value gains (losses) on loans and related obligations (93,133) 2,165 83,261 5,135  
Fee income 13,824 6,840 20,176 62,013  
Interest income 3,200 1,609 5,291 2,793  
Interest expense (31,734) (27,025) (63,290) (50,505)  
Net interest expense (28,534) (25,416) (57,999) (47,712)  
TOTAL REVENUES (111,897) (21,174) 28,958 24,884  
TOTAL EXPENSES 110,005 112,819 193,782 224,029  
OTHER, NET (1,937) 14,154 (1,001) 17,138  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (223,839) (119,839) (165,825) (182,007)  
Depreciation and amortization 12,372 10,986 22,477 21,184  
TOTAL ASSETS 26,424,264 20,316,261 26,424,264 20,316,261  
Operating segments | Continuing Operations          
Segment Reporting Information [Line Items]          
Loss on sale and other income from loans held for sale, net (4,110) (4,662) (16,480) 6,266  
Net fair value gains (losses) on loans and related obligations (93,133) 5,623 83,261 8,593  
Fee income 13,051 6,133 21,694 64,463  
Interest income 3,200 1,515 4,670 2,605  
Interest expense (24,106) (20,287) (48,102) (37,064)  
Net interest expense (20,906) (18,772) (43,432) (34,459)  
TOTAL REVENUES (105,098) (11,678) 45,043 44,863  
TOTAL EXPENSES 81,005 84,997 141,208 167,135  
OTHER, NET 28 75 59 3,316  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (186,075) (96,600) (96,106) (118,956)  
Depreciation and amortization 11,945 9,817 21,602 19,506  
TOTAL ASSETS 26,396,201 20,298,830 26,396,201 20,298,830  
Operating segments | Retirement Solutions | Continuing Operations          
Segment Reporting Information [Line Items]          
Loss on sale and other income from loans held for sale, net (2,265) 78 (3,577) 78  
Net fair value gains (losses) on loans and related obligations 32,926 77,872 57,401 183,627  
Fee income 10,073 4,935 13,253 8,740  
Interest income 0 0 0 43  
Interest expense 0 0 0 (54)  
Net interest expense 0 0 0 (11)  
TOTAL REVENUES 40,734 82,885 67,077 192,434  
TOTAL EXPENSES 58,767 50,443 94,291 97,870  
OTHER, NET 28 38 59 3,252  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (18,005) 32,480 (27,155) 97,816  
Depreciation and amortization 11,911 9,711 21,554 19,309  
TOTAL ASSETS 332,516 418,005 332,516 418,005  
Operating segments | Portfolio Management | Continuing Operations          
Segment Reporting Information [Line Items]          
Loss on sale and other income from loans held for sale, net (1,845) (4,740) (12,903) 6,188  
Net fair value gains (losses) on loans and related obligations (126,059) (72,249) 25,860 (175,034)  
Fee income 2,978 1,198 8,441 55,723  
Interest income 3,200 1,515 4,670 2,562  
Interest expense (24,106) (20,287) (48,102) (37,010)  
Net interest expense (20,906) (18,772) (43,432) (34,448)  
TOTAL REVENUES (145,832) (94,563) (22,034) (147,571)  
TOTAL EXPENSES 22,238 34,554 46,917 69,265  
OTHER, NET 0 37 0 64  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (168,070) (129,080) (68,951) (216,772)  
Depreciation and amortization 34 106 48 197  
TOTAL ASSETS 26,063,685 19,880,825 26,063,685 19,880,825  
Corporate and Other | Continuing Operations          
Segment Reporting Information [Line Items]          
Loss on sale and other income from loans held for sale, net 0 0 0 0  
Net fair value gains (losses) on loans and related obligations 0 0 0 0  
Fee income 2,045 8,240 4,998 17,279  
Interest income 0 94 621 188  
Interest expense (7,628) (6,738) (15,188) (13,441)  
Net interest expense (7,628) (6,644) (14,567) (13,253)  
TOTAL REVENUES (5,583) 1,596 (9,569) 4,026  
TOTAL EXPENSES 30,216 38,758 59,090 80,848  
OTHER, NET (1,965) 13,923 (1,060) 13,771  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (37,764) (23,239) (69,719) (63,051)  
Depreciation and amortization 427 1,169 875 1,678  
TOTAL ASSETS 1,250,637 1,746,031 1,250,637 1,746,031  
Eliminations | Continuing Operations          
Segment Reporting Information [Line Items]          
Loss on sale and other income from loans held for sale, net 56 (101) 0 (818)  
Net fair value gains (losses) on loans and related obligations 0 (3,458) 0 (3,458)  
Fee income (1,272) (7,533) (6,516) (19,729)  
Interest income 0 0 0 0  
Interest expense 0 0 0 0  
Net interest expense 0 0 0 0  
TOTAL REVENUES (1,216) (11,092) (6,516) (24,005)  
TOTAL EXPENSES (1,216) (10,936) (6,516) (23,954)  
OTHER, NET 0 156 0 51  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 0 0 0 0  
Depreciation and amortization 0 0 0 0  
TOTAL ASSETS $ (1,222,574) $ (1,728,600) $ (1,222,574) $ (1,728,600)