Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Financial Condition

v3.22.4
Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Cash and cash equivalents $ 97,361 $ 141,238
Restricted cash 180,075 322,403
Loans held for investment, subject to Home Equity Conversion Mortgage-Backed Securities ("HMBS") related obligations, at fair value 11,114,100 10,556,054
Loans held for investment, subject to nonrecourse debt, at fair value 7,454,638 6,218,194
Loans held for investment, at fair value 907,998 1,031,328
Loans held for sale, at fair value 315,978 2,052,378
Mortgage servicing rights ("MSR"), at fair value, $60,562 and $142,435 subject to nonrecourse MSR financing liability, respectively 95,096 427,942
Derivative assets 2,354 48,870
Fixed assets and leasehold improvements, net 19,015 29,256
Intangible assets, net 374,555 602,900
Other assets, net 311,485 358,383
TOTAL ASSETS 20,872,655 21,788,946
LIABILITIES AND EQUITY    
HMBS related obligations, at fair value 10,996,755 10,422,358
Nonrecourse debt, at fair value (includes amounts due to related parties of $0 and $142,435, respectively) 7,343,177 6,111,242
Other financing lines of credit 1,455,369 3,347,442
Payables and other liabilities 273,111 471,511
Notes payable, net (includes amounts due to related parties of $46,790 and $0, respectively) 399,402 353,383
TOTAL LIABILITIES 20,467,814 20,705,936
Commitments and Contingencies (Note 25)
EQUITY (Note 38)    
Additional paid-in capital 888,488 831,620
Accumulated deficit (634,295) (443,613)
Accumulated other comprehensive loss (273) (110)
Noncontrolling interest 150,915 695,107
TOTAL EQUITY 404,841 1,083,010
TOTAL LIABILITIES AND EQUITY 20,872,655 21,788,946
Class A Common Stock    
EQUITY (Note 38)    
Common stock, value 6 6
Class B Common Stock    
EQUITY (Note 38)    
Common stock, value $ 0 $ 0