Quarterly report pursuant to Section 13 or 15(d)

Business Segment Reporting (Details)

v3.24.3
Business Segment Reporting (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
PORTFOLIO INTEREST INCOME          
Interest income $ 489,900 $ 443,999 $ 1,431,970 $ 1,169,624  
Interest expense (426,839) (372,459) (1,233,261) (970,428)  
NET PORTFOLIO INTEREST INCOME 63,061 71,540 198,709 199,196  
OTHER INCOME (EXPENSE)          
Net origination gains 57,216 31,376 137,133 88,777  
Gain on securitization of HECM tails, net 10,560 7,100 32,317 17,095  
Fair value changes from model amortization (43,753) (56,882) (149,174) (162,386)  
Fair value changes from market inputs or model assumptions 204,154 (122,449) 228,976 (172,168)  
Net fair value changes on loans and related obligations 228,177 (140,855) 249,252 (228,682)  
Fee income 8,054 13,201 22,170 33,377  
Gain (loss) on sale and other income from loans held for sale, net 0 (6,984) 302 (23,464)  
Non-funding interest expense, net (9,219) (7,342) (26,639) (21,909)  
NET OTHER INCOME (EXPENSE) 227,012 (141,980) 245,085 (240,678)  
Total revenues 290,073 (70,440) 443,794 (41,482)  
Total expenses 80,308 105,426 256,670 299,208  
Impairment of other assets 0 (558) (600) (558)  
Other, net (1,592) 3,853 2,101 2,852  
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 208,173 (172,571) 188,625 (338,396)  
Depreciation and amortization 9,777 9,954 29,208 32,431  
Total assets 28,950,384   28,950,384   $ 27,107,590
Continuing Operations          
PORTFOLIO INTEREST INCOME          
Interest income 489,900 443,999 1,431,970 1,169,624  
Interest expense (426,839) (372,459) (1,233,261) (970,428)  
NET PORTFOLIO INTEREST INCOME 63,061 71,540 198,709 199,196  
OTHER INCOME (EXPENSE)          
Net origination gains 57,216 31,376 137,133 88,777  
Gain on securitization of HECM tails, net 10,560 7,100 32,317 17,095  
Fair value changes from model amortization (43,753) (56,882) (149,174) (162,386)  
Fair value changes from market inputs or model assumptions 204,154 (122,449) 228,976 (172,168)  
Net fair value changes on loans and related obligations 228,177 (140,855) 249,252 (228,682)  
Fee income 8,054 13,201 22,170 33,377  
Gain (loss) on sale and other income from loans held for sale, net   (6,984) 302 (23,464)  
Non-funding interest expense, net (9,219) (7,342) (26,639) (21,909)  
NET OTHER INCOME (EXPENSE) 227,012 (141,980) 245,085 (240,678)  
Total revenues 290,073 (70,440) 443,794 (41,482)  
Total expenses 80,308 105,426 256,670 299,208  
Impairment of other assets   (558) (600) (558)  
Other, net (1,592) 3,853 2,101 2,852  
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 208,173 (172,571) 188,625 (338,396)  
Depreciation and amortization 9,777 9,954 29,208 32,431  
Total assets 28,946,557 26,389,106 28,946,557 26,389,106 26,389,106
Operating segments | Continuing Operations          
PORTFOLIO INTEREST INCOME          
Interest income 489,900 443,999 1,431,970 1,169,624  
Interest expense (426,839) (372,459) (1,233,261) (970,428)  
NET PORTFOLIO INTEREST INCOME 63,061 71,540 198,709 199,196  
OTHER INCOME (EXPENSE)          
Net origination gains 57,216 31,376 137,133 88,777  
Gain on securitization of HECM tails, net 10,560 7,100 32,317 17,095  
Fair value changes from model amortization (43,753) (56,882) (149,174) (162,386)  
Fair value changes from market inputs or model assumptions 204,154 (122,449) 228,976 (172,168)  
Net fair value changes on loans and related obligations 228,177 (140,855) 249,252 (228,682)  
Fee income 8,177 13,456 22,539 35,150  
Gain (loss) on sale and other income from loans held for sale, net   (6,984) 302 (23,464)  
Non-funding interest expense, net 0 0 0 0  
NET OTHER INCOME (EXPENSE) 236,354 (134,383) 272,093 (216,996)  
Total revenues 299,415 (62,843) 470,802 (17,800)  
Total expenses 66,917 81,524 207,677 222,732  
Impairment of other assets   0 0    
Other, net 0 16 (174) 75  
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 232,498 (144,351) 262,951 (240,457)  
Depreciation and amortization 9,465 9,533 28,402 31,135  
Total assets 28,947,222 26,332,250 28,947,222 26,332,250 26,332,250
Operating segments | Retirement Solutions And Portfolio Management | Continuing Operations          
OTHER INCOME (EXPENSE)          
Impairment of other assets       0  
Operating segments | Retirement Solutions | Continuing Operations          
PORTFOLIO INTEREST INCOME          
Interest income 0 0 0 0  
Interest expense 0 0 0 0  
NET PORTFOLIO INTEREST INCOME 0 0 0 0  
OTHER INCOME (EXPENSE)          
Net origination gains 57,216 31,376 137,133 88,777  
Gain on securitization of HECM tails, net 0 0 0 0  
Fair value changes from model amortization 0 0 0 0  
Fair value changes from market inputs or model assumptions 0 0 0 0  
Net fair value changes on loans and related obligations 57,216 31,376 137,133 88,777  
Fee income 7,247 10,983 20,269 24,236  
Gain (loss) on sale and other income from loans held for sale, net   (2,212) (76) (5,789)  
Non-funding interest expense, net 0 0 0 0  
NET OTHER INCOME (EXPENSE) 64,463 40,147 157,326 107,224  
Total revenues 64,463 40,147 157,326 107,224  
Total expenses 48,529 60,034 146,774 154,325  
Impairment of other assets   0 0 0  
Other, net 0 16 (174) 75  
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 15,934 (19,871) 10,378 (47,026)  
Depreciation and amortization 9,424 9,503 28,338 31,057  
Total assets 288,556 309,534 288,556 309,534 309,534
Operating segments | Portfolio Management | Continuing Operations          
PORTFOLIO INTEREST INCOME          
Interest income 489,900 443,999 1,431,970 1,169,624  
Interest expense (426,839) (372,459) (1,233,261) (970,428)  
NET PORTFOLIO INTEREST INCOME 63,061 71,540 198,709 199,196  
OTHER INCOME (EXPENSE)          
Net origination gains 0 0 0 0  
Gain on securitization of HECM tails, net 10,560 7,100 32,317 17,095  
Fair value changes from model amortization (43,753) (56,882) (149,174) (162,386)  
Fair value changes from market inputs or model assumptions 204,154 (122,449) 228,976 (172,168)  
Net fair value changes on loans and related obligations 170,961 (172,231) 112,119 (317,459)  
Fee income 930 2,473 2,270 10,914  
Gain (loss) on sale and other income from loans held for sale, net   (4,772) 378 (17,675)  
Non-funding interest expense, net 0 0 0 0  
NET OTHER INCOME (EXPENSE) 171,891 (174,530) 114,767 (324,220)  
Total revenues 234,952 (102,990) 313,476 (125,024)  
Total expenses 18,388 21,490 60,903 68,407  
Impairment of other assets   0 0 0  
Other, net 0 0 0 0  
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 216,564 (124,480) 252,573 (193,431)  
Depreciation and amortization 41 30 64 78  
Total assets 28,658,666 26,022,716 28,658,666 26,022,716 26,022,716
Operating segments | Corporate and Other | Continuing Operations          
OTHER INCOME (EXPENSE)          
Impairment of other assets       (558)  
Corporate and Other | Continuing Operations          
PORTFOLIO INTEREST INCOME          
Interest income 0 0 0 0  
Interest expense 0 0 0 0  
NET PORTFOLIO INTEREST INCOME 0 0 0 0  
OTHER INCOME (EXPENSE)          
Net origination gains 0 0 0 0  
Gain on securitization of HECM tails, net 0 0 0 0  
Fair value changes from model amortization 0 0 0 0  
Fair value changes from market inputs or model assumptions 0 0 0 0  
Net fair value changes on loans and related obligations 0 0 0 0  
Fee income 0 1,354 0 6,352  
Gain (loss) on sale and other income from loans held for sale, net   0 0 0  
Non-funding interest expense, net (9,219) (7,342) (26,639) (21,909)  
NET OTHER INCOME (EXPENSE) (9,219) (5,988) (26,639) (15,557)  
Total revenues (9,219) (5,988) (26,639) (15,557)  
Total expenses 13,514 25,511 49,362 84,601  
Impairment of other assets   (558) (600)    
Other, net (1,592) 3,837 2,275 2,777  
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (24,325) (28,220) (74,326) (97,939)  
Depreciation and amortization 312 421 806 1,296  
Total assets 1,397,698 1,510,951 1,397,698 1,510,951 1,510,951
Eliminations | Continuing Operations          
PORTFOLIO INTEREST INCOME          
Interest income 0 0 0 0  
Interest expense 0 0 0 0  
NET PORTFOLIO INTEREST INCOME 0 0 0 0  
OTHER INCOME (EXPENSE)          
Net origination gains 0 0 0 0  
Gain on securitization of HECM tails, net 0 0 0 0  
Fair value changes from model amortization 0 0 0 0  
Fair value changes from market inputs or model assumptions 0 0 0 0  
Net fair value changes on loans and related obligations 0 0 0 0  
Fee income (123) (1,609) (369) (8,125)  
Gain (loss) on sale and other income from loans held for sale, net   0 0 0  
Non-funding interest expense, net 0 0 0 0  
NET OTHER INCOME (EXPENSE) (123) (1,609) (369) (8,125)  
Total revenues (123) (1,609) (369) (8,125)  
Total expenses (123) (1,609) (369) (8,125)  
Impairment of other assets   0 0 0  
Other, net 0 0 0 0  
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 0 0 0 0  
Depreciation and amortization 0 0 0 0  
Total assets $ (1,398,363) $ (1,454,095) $ (1,398,363) $ (1,454,095) $ (1,454,095)