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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 453,287 $ 860,005
Adjustments to reconcile net income to net cash provided by operating activities:    
Reserve for representations and warranties 7,762 9,818
Capitalization of mortgage servicing rights (645,437) (599,389)
Change in fair value of mortgage servicing rights (171,963) 59,259
Depreciation and amortization of premises & equipment, finance lease assets and debt issuance costs 11,909 7,981
Stock-based compensation expense 1,828 0
Decrease in fair value of investment securities 10,934 0
Decrease in fair value of warrants liability (4,132) (17,304)
(Increase) decrease in:    
Mortgage loans at fair value 12,265,157 2,413,244
Derivative assets (174,576) (52,096)
Other assets (173,090) (309,033)
Increase (decrease) in:    
Derivative liabilities 78,689 (10,758)
Other liabilities 91,395 275,290
Net cash provided by operating activities 11,751,763 2,637,017
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of premises and equipment (6,102) (9,815)
Net proceeds from sale of mortgage servicing rights 613,532 2,582
Proceeds from principal payments on investment securities 3,068 0
Net cash provided by (used in) investing activities 610,498 (7,233)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net borrowings under warehouse lines of credit (11,878,109) (2,117,657)
Repayments of finance lease liabilities (4,225) (2,857)
Borrowings under equipment notes payable 0 453
Repayments under equipment notes payable (226) (1,557)
Borrowings under operating lines of credit 0 79,700
Proceeds from business combination transaction 0 895,134
Costs incurred related to business combination transaction 0 (11,260)
Dividends paid (9,171) 0
Member distributions to SFS Corp. (300,444) (1,102,914)
Net cash used in financing activities (12,192,175) (2,260,958)
INCREASE IN CASH AND CASH EQUIVALENTS 170,086 368,826
CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD 731,088 1,223,837
CASH AND CASH EQUIVALENTS, END OF THE PERIOD 901,174 1,592,663
SUPPLEMENTAL INFORMATION    
Cash paid for interest $ 37,923 $ 36,077