Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Financial Condition

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Condensed Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents $ 46,509 $ 46,482
Restricted cash 200,104 178,319
Loans held for investment, subject to Home Equity Conversion Mortgage-Backed Securities (“HMBS”) related obligations, at fair value 18,196,092 17,548,763
Loans held for investment, subject to nonrecourse debt, at fair value 8,418,195 8,272,393
Loans held for investment, at fair value 677,726 575,228
Intangible assets, net 234,936 253,531
Other assets, net 196,134 226,153
Assets of discontinued operations 4,658 6,721
TOTAL ASSETS 27,974,354 27,107,590
LIABILITIES AND EQUITY    
HMBS related obligations, at fair value 17,980,232 17,353,720
Nonrecourse debt, at fair value 8,050,708 7,904,200
Other financing lines of credit 1,073,844 928,479
Notes payable, carrying value 442,971 410,911
Payables and other liabilities 157,273 219,569
Liabilities of discontinued operations 18,029 18,304
TOTAL LIABILITIES 27,723,057 26,835,183
Commitments and Contingencies (Note 14)
EQUITY    
Additional paid-in capital 951,535 946,938
Accumulated deficit (724,010) (714,383)
Accumulated other comprehensive loss (296) (249)
Noncontrolling interest 24,067 40,100
TOTAL EQUITY 251,297 272,407
TOTAL LIABILITIES AND EQUITY 27,974,354 27,107,590
Class A Common Stock    
EQUITY    
Common stock, value 1 1
Class B Common Stock    
EQUITY    
Common stock, value $ 0 $ 0