Quarterly report pursuant to Section 13 or 15(d)

Business Segment Reporting (Details)

v3.24.2.u1
Business Segment Reporting (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 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)  
Revenues 79,039 (111,897) 153,721 28,958  
TOTAL EXPENSES 85,047 110,005 176,362 193,782  
Impairment of other assets 0 0 (600) 0  
Other, net 2,240 (1,937) 3,693 (1,001)  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (3,768) (223,839) (19,548) (165,825)  
Depreciation and amortization 9,753 12,372 19,431 22,477  
Assets 27,974,354   27,974,354   $ 27,107,590
Continuing Operations          
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)  
Revenues 79,039 (111,897) 153,721 28,958  
TOTAL EXPENSES 85,047 110,005 176,362 193,782  
Impairment of other assets     (600)    
Other, net 2,240 (1,937) 3,693 (1,001)  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (3,768) (223,839) (19,548) (165,825)  
Depreciation and amortization 9,753 12,372 19,431 22,477  
Assets 27,969,696 26,424,264 27,969,696 26,424,264 26,424,264
Operating segments | Continuing Operations          
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 8,003 13,051 14,362 21,694  
Gain (loss) on sale and other income from loans held for sale, net 216 (4,110) 302 (16,480)  
Non-funding interest expense, net 0 0 0 0  
NET OTHER INCOME (EXPENSE) 22,957 (170,177) 35,739 (82,613)  
Revenues 88,430 (105,098) 171,387 45,043  
TOTAL EXPENSES 68,597 81,005 140,760 141,208  
Impairment of other assets     0    
Other, net 0 28 (174) 59  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 19,833 (186,075) 30,453 (96,106)  
Depreciation and amortization 9,441 11,945 18,937 21,602  
Assets 27,942,055 26,396,201 27,942,055 26,396,201 26,396,201
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 40,260 32,926 79,917 57,401  
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 40,260 32,926 79,917 57,401  
Fee income 6,894 10,073 13,022 13,253  
Gain (loss) on sale and other income from loans held for sale, net 0 (2,265) (76) (3,577)  
Non-funding interest expense, net 0 0 0 0  
NET OTHER INCOME (EXPENSE) 47,154 40,734 92,863 67,077  
Revenues 47,154 40,734 92,863 67,077  
TOTAL EXPENSES 48,835 58,767 98,245 94,291  
Impairment of other assets     0    
Other, net 0 28 (174) 59  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (1,681) (18,005) (5,556) (27,155)  
Depreciation and amortization 9,426 11,911 18,914 21,554  
Assets 282,516 332,516 282,516 332,516 332,516
Operating segments | Portfolio Management | Continuing Operations          
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 0 0 0 0  
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 (25,522) (212,044) (58,842) (145,228)  
Fee income 1,109 2,978 1,340 8,441  
Gain (loss) on sale and other income from loans held for sale, net 216 (1,845) 378 (12,903)  
Non-funding interest expense, net 0 0 0 0  
NET OTHER INCOME (EXPENSE) (24,197) (210,911) (57,124) (149,690)  
Revenues 41,276 (145,832) 78,524 (22,034)  
TOTAL EXPENSES 19,762 22,238 42,515 46,917  
Impairment of other assets     0    
Other, net 0 0 0 0  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 21,514 (168,070) 36,009 (68,951)  
Depreciation and amortization 15 34 23 48  
Assets 27,659,539 26,063,685 27,659,539 26,063,685 26,063,685
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) (1,272) (246) (6,516)  
Gain (loss) on sale and other income from loans held for sale, net 0 56 0 0  
Non-funding interest expense, net 0 0 0 0  
NET OTHER INCOME (EXPENSE) (123) (1,216) (246) (6,516)  
Revenues (123) (1,216) (246) (6,516)  
TOTAL EXPENSES (123) (1,216) (246) (6,516)  
Impairment of other assets     0    
Other, net 0 0 0 0  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 0 0 0 0  
Depreciation and amortization 0 0 0 0  
Assets (1,414,146) (1,222,574) (1,414,146) (1,222,574) (1,222,574)
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 2,045 0 4,998  
Gain (loss) on sale and other income from loans held for sale, net 0 0 0 0  
Non-funding interest expense, net (9,268) (7,628) (17,420) (14,567)  
NET OTHER INCOME (EXPENSE) (9,268) (5,583) (17,420) (9,569)  
Revenues (9,268) (5,583) (17,420) (9,569)  
TOTAL EXPENSES 16,573 30,216 35,848 59,090  
Impairment of other assets     (600)    
Other, net 2,240 (1,965) 3,867 (1,060)  
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (23,601) (37,764) (50,001) (69,719)  
Depreciation and amortization 312 427 494 875  
Assets $ 1,441,787 $ 1,250,637 $ 1,441,787 $ 1,250,637 $ 1,250,637