Quarterly report pursuant to Section 13 or 15(d)

Business Segment Reporting (Details)

v3.23.3
Business Segment Reporting (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Segment Reporting Information [Line Items]          
Fee income $ 13,201 $ 10,212 $ 33,377 $ 72,225  
Interest income 4,443 2,527 9,734 5,320  
Interest expense (27,965) (33,534) (91,255) (84,039)  
TOTAL REVENUES (70,440) (37,547) (41,482) (11,845)  
TOTAL EXPENSES 105,426 92,351 299,208 317,198  
OTHER, NET 3,853 20,468 2,852 37,606  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (172,571) (113,230) (338,396) (295,237)  
TOTAL ASSETS 26,397,462   26,397,462   $ 20,872,655
Continuing Operations          
Segment Reporting Information [Line Items]          
Loss on sale and other income from loans held for sale, net (6,984) (6,508) (23,464) (242)  
Net fair value gains (losses) on loans and related obligations (53,135) (10,244) 30,126 (5,109)  
Fee income 13,201 10,212 33,377 72,225  
Interest income 4,443 2,527 9,734 5,320  
Interest expense (27,965) (33,534) (91,255) (84,039)  
Net interest expense (23,522) (31,007) (81,521) (78,719)  
TOTAL REVENUES (70,440) (37,547) (41,482) (11,845)  
TOTAL EXPENSES 105,426 92,351 299,208 317,198  
Impairment of other assets (558)   (558)    
Impairment of intangible assets   (3,800)   (3,800)  
OTHER, NET 3,853 20,468 2,852 37,606  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (172,571) (113,230) (338,396) (295,237)  
Depreciation and amortization 9,954 10,885 32,431 32,069  
TOTAL ASSETS 26,389,106 20,252,582 26,389,106 20,252,582  
Operating segments | Retirement Solutions And Portfolio Management | Continuing Operations          
Segment Reporting Information [Line Items]          
Loss on sale and other income from loans held for sale, net (6,984) (6,508) (23,464) (242)  
Net fair value gains (losses) on loans and related obligations (53,135) (9,517) 30,126 (924)  
Fee income 13,456 11,053 35,150 75,516  
Interest income 4,118 2,051 8,788 4,656  
Interest expense (20,298) (26,098) (68,400) (63,162)  
Net interest expense (16,180) (24,047) (59,612) (58,506)  
TOTAL REVENUES (62,843) (29,019) (17,800) 15,844  
TOTAL EXPENSES 81,524 70,832 222,732 237,967  
Impairment of other assets 0   0    
Impairment of intangible assets   (3,800)   (3,800)  
OTHER, NET 16 808 75 4,124  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (144,351) (102,843) (240,457) (221,799)  
Depreciation and amortization 9,533 9,780 31,135 29,286  
TOTAL ASSETS 26,332,250 20,228,036 26,332,250 20,228,036  
Operating segments | Retirement Solutions | Continuing Operations          
Segment Reporting Information [Line Items]          
Loss on sale and other income from loans held for sale, net (2,212) 142 (5,789) 220  
Net fair value gains (losses) on loans and related obligations 31,376 71,204 88,777 254,831  
Fee income 10,983 3,906 24,236 12,646  
Interest income 0 0 0 43  
Interest expense 0 0 0 (54)  
Net interest expense 0 0 0 (11)  
TOTAL REVENUES 40,147 75,252 107,224 267,686  
TOTAL EXPENSES 60,034 43,369 154,325 141,239  
Impairment of other assets 0   0    
Impairment of intangible assets   0   0  
OTHER, NET 16 24 75 3,276  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (19,871) 31,907 (47,026) 129,723  
Depreciation and amortization 9,503 9,671 31,057 28,980  
TOTAL ASSETS 309,534 356,776 309,534 356,776  
Operating segments | Portfolio Management | Continuing Operations          
Segment Reporting Information [Line Items]          
Loss on sale and other income from loans held for sale, net (4,772) (6,650) (17,675) (462)  
Net fair value gains (losses) on loans and related obligations (84,511) (80,721) (58,651) (255,755)  
Fee income 2,473 7,147 10,914 62,870  
Interest income 4,118 2,051 8,788 4,613  
Interest expense (20,298) (26,098) (68,400) (63,108)  
Net interest expense (16,180) (24,047) (59,612) (58,495)  
TOTAL REVENUES (102,990) (104,271) (125,024) (251,842)  
TOTAL EXPENSES 21,490 27,463 68,407 96,728  
Impairment of other assets 0   0    
Impairment of intangible assets   (3,800)   (3,800)  
OTHER, NET 0 784 0 848  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (124,480) (134,750) (193,431) (351,522)  
Depreciation and amortization 30 109 78 306  
TOTAL ASSETS 26,022,716 19,871,260 26,022,716 19,871,260  
Operating segments | 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 1,354 5,774 6,352 23,053  
Interest income 325 476 946 664  
Interest expense (7,667) (7,436) (22,855) (20,877)  
Net interest expense (7,342) (6,960) (21,909) (20,213)  
TOTAL REVENUES (5,988) (1,186) (15,557) 2,840  
TOTAL EXPENSES 25,511 28,891 84,601 109,739  
Impairment of other assets (558)   (558)    
Impairment of intangible assets   0   0  
OTHER, NET 3,837 19,690 2,777 33,461  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (28,220) (10,387) (97,939) (73,438)  
Depreciation and amortization 421 1,105 1,296 2,783  
TOTAL ASSETS 1,510,951 1,585,163 1,510,951 1,585,163  
Eliminations | 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 (727) 0 (4,185)  
Fee income (1,609) (6,615) (8,125) (26,344)  
Interest income 0 0 0 0  
Interest expense 0 0 0 0  
Net interest expense 0 0 0 0  
TOTAL REVENUES (1,609) (7,342) (8,125) (30,529)  
TOTAL EXPENSES (1,609) (7,372) (8,125) (30,508)  
Impairment of other assets 0   0    
Impairment of intangible assets   0   0  
OTHER, NET 0 (30) 0 21  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 0 0 0 0  
Depreciation and amortization 0 0 0 0  
TOTAL ASSETS $ (1,454,095) $ (1,560,617) $ (1,454,095) $ (1,560,617)