Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 9 Months Ended
Mar. 31, 2021
Sep. 30, 2021
Sep. 30, 2022
Operating Activities      
Net income $ 124,320 $ 35,286 $ (533,518)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: (6,277) (107,899) 1,594,533
Net cash provided by (used in) operating activities 118,043 (72,613) 1,061,015
Investing Activities      
Purchases and originations of loans held for investment (1,151,925) (2,658,540) (5,259,356)
Proceeds/payments received on loans held for investment 677,777 1,446,930 1,712,364
Purchases and origination of loans held for investment, subject to nonrecourse debt (12,247) (25,081) (89,907)
Proceeds/payments on loans held for investment, subject to nonrecourse debt 217,452 556,466 1,551,340
Purchases of debt securities (557) (1,449) (9,565)
Proceeds/payments on debt securities 2,096 3,238 2,249
Purchases of MSRs (9,014) (2,352) 0
Proceeds on sale of MSRs 7,765 2,501 454,106
Acquisition of subsidiaries, net of cash acquired (749) (22,838) 0
Acquisition of fixed assets (4,178) (8,636) (9,195)
Payments on deferred purchase price liability (657) (311) (8,000)
Debtor in possession ("DIP") Financing (35,260) 0 0
Other investing activities, net (2,550) 0 (153)
Net cash used in investing activities (312,047) (710,072) (1,656,117)
Financing Activities      
Proceeds from issuance of HMBS related obligations 602,172 1,587,902 2,481,514
Payments of HMBS related obligations (506,142) (1,221,327) (1,945,207)
Proceeds from issuance of nonrecourse debt 579,518 1,270,334 2,678,347
Payments on nonrecourse debt (658,300) (809,184) (1,655,080)
Proceeds from other financing lines of credit 10,027,696 18,451,706 18,936,854
Payments on other financing lines of credit (9,660,588) (18,401,507) (19,978,296)
Debt issuance costs (2,467) (1,342) (1,338)
Payment of withholding taxes relating to equity-based compensation 0 0 (5,650)
Member distributions (75,000) 0 0
Settlement of CRNCI 0 (203,216) 0
Other financing activities, net 806 (531) (207)
Net cash provided by financing activities 307,695 672,835 510,937
Foreign currency translation adjustment (7) (15) (257)
Net increase (decrease) in cash and restricted cash 113,684   (84,422)
Cash and restricted cash, beginning of period 539,363 653,047 463,641
Cash and restricted cash, end of period 653,047 516,962 379,219
Supplementary Cash Flows Information      
Cash paid for interest 50,071 124,312 194,179
Cash paid for income taxes, net 63 1,882 46
Loans transferred to loans held for investment, at fair value, from loans held for investment, subject to nonrecourse debt, at fair value 283,428 242,650 803,648
Loans transferred to loans held for investment, subject to nonrecourse debt, at fair value, from loans held for investment, at fair value 272,098 1,309,669 3,608,016
Loans transferred to loans held for investment, subject to HMBS, at fair value, from loans held for investment, at fair value $ 42,909 $ 1,393,897 $ 2,053,387