Other Assets (Tables)

12 Months Ended

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

The following table provides additional details of the Company's assets included in Other assets on the Consolidated Balance Sheet at December 31, 2023 and 2022.


Other Assets	December 31, 2023		December 31, 2022
(In thousands)
Receivables and claims related to reverse mortgage loans repurchased from HMBS(1)	$	48,468	54,357
Prepaid expenses and deferred offering costs	11,602		7,541
Accounts receivable	3,755		2,418
Leases—right of use assets(2)	3,279		3,838
Prepaid scheduled draws on reverse mortgage loans and amounts due from sub-servicer	2,800		2,105
Intangible assets	2,673		3,275
Servicing asset, at fair value(3)	1,327		999
Property and equipment(4)	1,110		1,406
Certificates of deposit, security deposits, and escrow cash	1,043		460
Other	1,042		392
	$	77,099	$	76,791

(1)Represents receivables from third-parties and claims to HUD related to loans repurchased from HMBS. See Note 13, Issuance of HMBS for discussion on the maximum claim amount related to reverse mortgage loans in HMBS.

(2)See Note 24 for additional details on the Company's leases and ROU assets.

(3)See Note 13 for details on the Servicing asset.

(4)Net of accumulated depreciation.

Schedule of Intangible Assets and Goodwill

The following table details the Company's intangible assets as of December 31, 2023 and 2022.


	December 31, 2023							December 31, 2022
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Useful Life	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Useful Life
	(In thousands)						(In months)	(In thousands)						(In months)
Intangible Asset:
Internally developed software	$	1,400	$	(583)	$	817	36	$	1,400	$	(116)	$	1,284	36
Trademarks/trade names	1,200		—		1,200		Indefinite	1,200		—		1,200		Indefinite
Customer relationships	700		(44)		656		240	700		(9)		691		240
Non-compete agreements	200		(200)		—		6	200		(100)		100		6
Total identified intangible assets	$	3,500	$	(827)	$	2,673		$	3,500	$	(225)	$	3,275

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The following table summarizes changes in the net carrying value of the Company's intangible assets for the years ended December 31, 2023 and 2022.


	Year Ended December 31, 2023
(In thousands)	Internally Developed Software		Trademarks/Trade Names		Customer Relationships		Non-Compete Agreements		Total
Net carrying value of intangible assets—Beginning Balance (December 31, 2022)	$	1,284	$	1,200	$	691	$	100	$	3,275
Accumulated Amortization	(467)		—		(35)		(100)		(602)
Net carrying value of intangible assets—Ending Balance (December 31, 2023)	$	817	$	1,200	$	656	$	—	$	2,673


	Year Ended December 31, 2022
(In thousands)	Internally Developed Software		Trademarks/Trade Names		Customer Relationships		Non-Compete Agreements		Total
Net carrying value of intangible assets—Beginning Balance (December 31, 2021)	$	—	$	—	$	—	$	—	$	—
Intangible assets acquired from Longbridge Transaction	1,400		1,200		700		200		3,500
Accumulated Amortization	(116)		—		(9)		(100)		(225)
Net carrying value of intangible assets—Ending Balance (December 31, 2022)	$	1,284	$	1,200	$	691	$	100	$	3,275

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table summarizes the Company's estimated future amortization expense on its intangible assets.


(In thousands)	December 31, 2023
2024	$	502
2025	385
2026	35
2027	35
2028	35
Thereafter	481
Total	$	1,473