Other Assets (Tables)

3 Months Ended

Mar. 31, 2024

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 Condensed Consolidated Balance Sheet at March 31, 2024 and December 31, 2023.


Other Assets	March 31, 2024		December 31, 2023
(In thousands)
Receivables and claims related to reverse mortgage loans repurchased from HMBS(1)	$	40,454	$	48,468
Prepaid expenses and deferred offering costs	12,605		11,602
Accounts receivable	7,230		3,755
Leases—right of use assets(2)	5,773		3,279
Prepaid scheduled draws on reverse mortgage loans and amounts due from sub-servicer	3,325		2,800
Intangible assets	2,548		2,673
Property and equipment(4)	1,580		1,110
Certificates of deposit, security deposits, and escrow cash	858		1,043
Servicing asset, at fair value(3)	324		1,327
Other	725		1,042
	$	75,422	$	77,099

(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 March 31, 2024 and December 31, 2023.


	March 31, 2024							December 31, 2023
	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	$	(700)	$	700	36	$	1,400	$	(583)	$	817	36
Trademarks/trade names	1,200		—		1,200		Indefinite	1,200		—		1,200		Indefinite
Customer relationships	700		(52)		648		240	700		(44)		656		240
Total identified intangible assets	$	3,300	$	(752)	$	2,548		$	3,300	$	(827)	$	2,673

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 three-month periods ended March 31, 2024 and 2023.


	Three-Month Period Ended March 31, 2024
(In thousands)	Internally Developed Software		Trademarks/Trade Names		Customer Relationships		Total
Net carrying value of intangible assets—Beginning Balance (December 31, 2023)	$	817	$	1,200	$	656	$	2,673
Accumulated Amortization	(117)		—		(8)		(125)
Net carrying value of intangible assets—Ending Balance (March 31, 2024)	$	700	$	1,200	$	648	$	2,548


	Three-Month Period Ended March 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	(117)		—		(9)		(100)		(226)
Net carrying value of intangible assets—Ending Balance (March 31, 2023)	$	1,167	$	1,200	$	682	$	—	$	3,049

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)	March 31, 2024
2024	$	376
2025	385
2026	35
2027	35
2028	35
Thereafter	481
Total	$	1,347