Annual report pursuant to Section 13 and 15(d)

Business Segment Reporting (Details)

v3.22.4
Business Segment Reporting (Details)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2021
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2022
USD ($)
segment
Dec. 31, 2020
USD ($)
Segment Reporting Information [Line Items]        
Gain on sale and other income from loans held for sale, net $ 291,334 $ 564,525 $ 211,018 $ 1,178,995
Net fair value gains (losses) on loans and related obligations 76,663 341,750 104,194 311,698
Fee income 161,371 386,065 362,130 389,869
Interest income 12,661 43,925 47,636 42,584
Interest expense (34,366) (107,694) (151,737) (123,001)
Net interest income (expense) (21,705) (63,769) (104,101) (80,417)
TOTAL REVENUES 507,663 1,228,571 573,241 1,800,145
TOTAL EXPENSES 373,314 1,183,756 1,148,615 1,293,757
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS 0 (1,380,630) (192,509) 0
Other, net (8,892) 14,142 35,831 (6,131)
NET INCOME (LOSS) BEFORE INCOME TAXES 125,457 (1,321,673) (732,052) 500,257
Depreciation and amortization 3,484 50,005 64,991 13,871
TOTAL ASSETS 20,100,419 21,788,946 $ 20,872,655 19,565,155
Number of reportable segments | segment     6  
Operating segments        
Segment Reporting Information [Line Items]        
Gain on sale and other income from loans held for sale, net 291,546 582,901 $ 225,685 1,181,560
Net fair value gains (losses) on loans and related obligations 76,630 324,120 92,787 309,479
Fee income 154,759 417,411 399,761 377,135
Interest income 12,649 43,650 46,961 42,576
Interest expense (26,610) (87,454) (124,069) (113,924)
Net interest income (expense) (13,961) (43,804) (77,108) (71,348)
TOTAL REVENUES 508,974 1,280,628 641,125 1,796,826
TOTAL EXPENSES 348,706 1,147,035 1,077,119 1,236,338
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS   (1,380,630) (190,281)  
Other, net 1,080 4,881 7,991 0
NET INCOME (LOSS) BEFORE INCOME TAXES 161,348 (1,242,156) (618,284) 560,488
Depreciation and amortization 3,113 48,875 62,508 12,356
TOTAL ASSETS 20,047,170 21,752,225 20,810,523 19,483,510
Operating segments | Mortgage Originations        
Segment Reporting Information [Line Items]        
Gain on sale and other income from loans held for sale, net 286,481 542,951 231,983 1,171,368
Net fair value gains (losses) on loans and related obligations 0 0 0 0
Fee income 32,731 88,399 59,096 118,237
Interest income 12,483 42,555 40,680 41,688
Interest expense (11,592) (34,569) (32,956) (39,792)
Net interest income (expense) 891 7,986 7,724 1,896
TOTAL REVENUES 320,103 639,336 298,803 1,291,501
TOTAL EXPENSES 224,246 639,196 464,084 831,563
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS 0 (774,524) (129,097) 0
Other, net 0 0 (225) 0
NET INCOME (LOSS) BEFORE INCOME TAXES 95,857 (774,384) (294,603) 459,938
Depreciation and amortization 1,423 9,147 8,407 5,951
TOTAL ASSETS 2,425,529 2,148,504 173,442 2,362,159
Operating segments | Reverse Originations        
Segment Reporting Information [Line Items]        
Gain 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 68,449 317,138 283,808 192,257
Fee income 524 3,274 5,580 1,837
Interest income 0 0 0 0
Interest expense 0 0 0 0
Net interest income (expense) 0 0 0 0
TOTAL REVENUES 68,973 320,412 289,388 194,094
TOTAL EXPENSES 23,693 122,389 160,919 87,219
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS   (408,241) (3,500)  
Other, net 34 248 3,290 0
NET INCOME (LOSS) BEFORE INCOME TAXES 45,314 (209,970) 128,259 106,875
Depreciation and amortization 151 29,006 38,645 897
TOTAL ASSETS 35,861 359,896 294,904 25,841
Operating segments | Commercial Originations        
Segment Reporting Information [Line Items]        
Gain 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 5,431 37,720 4,210 13,350
Fee income 8,930 43,015 54,437 23,862
Interest income 0 0 0 0
Interest expense 0 0 0 0
Net interest income (expense) 0 0 0 0
TOTAL REVENUES 14,361 80,735 58,647 37,212
TOTAL EXPENSES 13,391 64,026 84,659 41,341
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS 0 (75,768) (5,500) 0
Other, net 149 423 418 0
NET INCOME (LOSS) BEFORE INCOME TAXES 1,119 (58,636) (31,094) (4,129)
Depreciation and amortization 125 1,909 2,211 568
TOTAL ASSETS 82,375 41,470 15,246 82,436
Operating segments | Lender Services        
Segment Reporting Information [Line Items]        
Gain 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 76,383 252,268 213,887 205,197
Interest income 28 68 962 174
Interest expense (64) (260) (187) (255)
Net interest income (expense) (36) (192) 775 (81)
TOTAL REVENUES 76,347 252,076 214,662 205,116
TOTAL EXPENSES 62,970 229,227 243,397 185,361
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS   (110,188) (48,384)  
Other, net 2 3,040 3,648 0
NET INCOME (LOSS) BEFORE INCOME TAXES 13,379 (84,299) (73,471) 19,755
Depreciation and amortization 1,268 8,681 12,926 4,810
TOTAL ASSETS 125,317 227,966 140,952 117,254
Operating segments | Portfolio Management        
Segment Reporting Information [Line Items]        
Gain on sale and other income from loans held for sale, net 5,065 39,950 (6,298) 10,192
Net fair value gains (losses) on loans and related obligations 2,750 (30,738) (195,231) 103,872
Fee income 36,191 30,455 66,761 28,002
Interest income 138 1,027 5,319 714
Interest expense (14,954) (52,625) (90,926) (73,877)
Net interest income (expense) (14,816) (51,598) (85,607) (73,163)
TOTAL REVENUES 29,190 (11,931) (220,375) 68,903
TOTAL EXPENSES 24,406 92,197 124,060 90,854
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS   (11,909) (3,800)  
Other, net 895 1,170 860 0
NET INCOME (LOSS) BEFORE INCOME TAXES 5,679 (114,867) (347,375) (21,951)
Depreciation and amortization 146 132 319 130
TOTAL ASSETS 17,378,088 18,974,389 20,185,979 16,895,820
Corporate and Other        
Segment Reporting Information [Line Items]        
Gain 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 0 0 0 3,117
Interest income 12 275 675 8
Interest expense (7,756) (20,240) (27,668) (8,945)
Net interest income (expense) (7,744) (19,965) (26,993) (8,937)
TOTAL REVENUES (7,744) (19,965) (26,993) (5,820)
TOTAL EXPENSES 18,683 74,535 112,384 48,280
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS   0 (2,228)  
Other, net (9,464) 15,193 27,837 (6,131)
NET INCOME (LOSS) BEFORE INCOME TAXES (35,891) (79,307) (113,768) (60,231)
Depreciation and amortization 371 1,130 2,483 1,515
TOTAL ASSETS 379,562 994,074 1,596,532 81,645
Elim        
Segment Reporting Information [Line Items]        
Gain on sale and other income from loans held for sale, net (212) (18,376) (14,667) (2,565)
Net fair value gains (losses) on loans and related obligations 33 17,630 11,407 2,219
Fee income 6,612 (31,346) (37,631) 9,617
Interest income 0 0 0 0
Interest expense 0 0 0 (132)
Net interest income (expense) 0 0 0 (132)
TOTAL REVENUES 6,433 (32,092) (40,891) 9,139
TOTAL EXPENSES 5,925 (37,814) (40,888) 9,139
IMPAIRMENT OF GOODWILL, INTANGIBLES, AND OTHER ASSETS   0 0  
Other, net (508) (5,932) 3 0
NET INCOME (LOSS) BEFORE INCOME TAXES 0 (210) 0 0
Depreciation and amortization 0 0 0 0
TOTAL ASSETS $ (326,313) $ (957,353) $ (1,534,400) $ 0