Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies - Change in Presentation (Details)

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Summary of Significant Accounting Policies - Change in Presentation (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
PORTFOLIO INTEREST INCOME        
Interest income $ 478,091 $ 414,661 $ 942,070 $ 725,625
Interest expense (412,618) (349,582) (806,422) (597,969)
NET PORTFOLIO INTEREST INCOME 65,473 65,079 135,648 127,656
OTHER INCOME (EXPENSE)        
Net origination gains 40,260 32,926 79,917 57,401
Gain on securitization of HECM tails, net 11,031 5,604 21,757 9,995
Fair value changes from model amortization (47,813) (55,238) (105,421) (105,504)
Fair value changes from market inputs or model assumptions 11,260 (162,410) 24,822 (49,719)
Net fair value changes on loans and related obligations 14,738 (179,118) 21,075 (87,827)
Fee income 7,880 13,824 14,116 20,176
Gain (loss) on sale and other income from loans held for sale, net 216 (4,054) 302 (16,480)
Non-funding interest expense, net (9,268) (7,628) (17,420) (14,567)
NET OTHER INCOME (EXPENSE) 13,566 (176,976) 18,073 (98,698)
TOTAL REVENUES $ 79,039 (111,897) $ 153,721 28,958
Previously Reported        
PORTFOLIO INTEREST INCOME        
Interest income   3,200   5,291
Interest expense   (31,734)   (63,290)
OTHER INCOME (EXPENSE)        
Net fair value changes on loans and related obligations   (93,133)   83,261
Fee income   13,824   20,176
Gain (loss) on sale and other income from loans held for sale, net   (4,054)   (16,480)
TOTAL REVENUES   (111,897)   28,958
Revision of Prior Period, Adjustment        
PORTFOLIO INTEREST INCOME        
Interest income   3,200   5,291
Interest expense   (31,734)   (63,290)
OTHER INCOME (EXPENSE)        
Net fair value changes on loans and related obligations   (93,133)   83,261
Fee income   13,824   20,176
Gain (loss) on sale and other income from loans held for sale, net   (4,054)   (16,480)
Net fair value losses on loans and related obligations        
PORTFOLIO INTEREST INCOME        
Interest income   411,461   720,955
Interest expense   (325,476)   (549,867)
NET PORTFOLIO INTEREST INCOME   85,985   171,088
OTHER INCOME (EXPENSE)        
Net origination gains   32,926   57,401
Gain on securitization of HECM tails, net   5,604   9,995
Fair value changes from model amortization   (55,238)   (105,504)
Fair value changes from market inputs or model assumptions   (162,410)   (49,719)
Net fair value changes on loans and related obligations   (179,118)   (87,827)
Fee income   0   0
Gain (loss) on sale and other income from loans held for sale, net   0   0
Non-funding interest expense, net   0   0
NET OTHER INCOME (EXPENSE)   (179,118)   (87,827)
Fee income        
PORTFOLIO INTEREST INCOME        
Interest income   0   0
Interest expense   0   0
NET PORTFOLIO INTEREST INCOME   0   0
OTHER INCOME (EXPENSE)        
Net origination gains   0   0
Gain on securitization of HECM tails, net   0   0
Fair value changes from model amortization   0   0
Fair value changes from market inputs or model assumptions   0   0
Net fair value changes on loans and related obligations   0   0
Fee income   13,824   20,176
Gain (loss) on sale and other income from loans held for sale, net   0   0
Non-funding interest expense, net   0   0
NET OTHER INCOME (EXPENSE)   13,824   20,176
Loss on sale and other income from loans held for sale, net        
PORTFOLIO INTEREST INCOME        
Interest income   0   0
Interest expense   0   0
NET PORTFOLIO INTEREST INCOME   0   0
OTHER INCOME (EXPENSE)        
Net origination gains   0   0
Gain on securitization of HECM tails, net   0   0
Fair value changes from model amortization   0   0
Fair value changes from market inputs or model assumptions   0   0
Net fair value changes on loans and related obligations   0   0
Fee income   0   0
Gain (loss) on sale and other income from loans held for sale, net   (4,054)   (16,480)
Non-funding interest expense, net   0   0
NET OTHER INCOME (EXPENSE)   (4,054)   (16,480)
Interest income        
PORTFOLIO INTEREST INCOME        
Interest income   3,200   4,670
Interest expense   0   0
NET PORTFOLIO INTEREST INCOME   3,200   4,670
OTHER INCOME (EXPENSE)        
Net origination gains   0   0
Gain on securitization of HECM tails, net   0   0
Fair value changes from model amortization   0   0
Fair value changes from market inputs or model assumptions   0   0
Net fair value changes on loans and related obligations   0   0
Fee income   0   0
Gain (loss) on sale and other income from loans held for sale, net   0   0
Non-funding interest expense, net   0   621
NET OTHER INCOME (EXPENSE)   0   621
Interest expense        
PORTFOLIO INTEREST INCOME        
Interest income   0   0
Interest expense   (24,106)   (48,102)
NET PORTFOLIO INTEREST INCOME   (24,106)   (48,102)
OTHER INCOME (EXPENSE)        
Net origination gains   0   0
Gain on securitization of HECM tails, net   0   0
Fair value changes from model amortization   0   0
Fair value changes from market inputs or model assumptions   0   0
Net fair value changes on loans and related obligations   0   0
Fee income   0   0
Gain (loss) on sale and other income from loans held for sale, net   0   0
Non-funding interest expense, net   (7,628)   (15,188)
NET OTHER INCOME (EXPENSE)   $ (7,628)   $ (15,188)