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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 660,707 $ 863,956
Restricted cash 85,149 116,545
Loans held for sale, at fair value (includes $510,080 and $497,574 pledged to creditors in securitization trusts at December 31, 2023 and 2022, respectively) 2,132,880 2,373,427
Derivative assets, at fair value 93,574 39,411
Servicing rights, at fair value (includes $617,878 and $544,729 pledged to creditors in securitization trusts at December 31, 2023 and 2022, respectively) 1,999,763 2,037,447
Trading securities, at fair value 92,901 94,243
Property and equipment, net 70,809 92,889
Operating lease right-of-use assets 29,433 35,668
Loans eligible for repurchase 711,371 634,677
Investments in joint ventures 20,363 20,410
Other assets 254,098 301,261
Total assets 6,151,048 6,609,934
Liabilities:    
Warehouse and other lines of credit 1,947,057 2,146,602
Accounts payable, accrued expenses and other liabilities 379,971 488,696
Derivative liabilities, at fair value 84,962 67,492
Liability for loans eligible for repurchase 711,371 634,677
Operating lease liability 49,192 61,675
Debt obligations, net 2,274,011 2,289,319
Total liabilities 5,446,564 5,688,461
Commitments and contingencies
Equity:    
Preferred stock, $0.001 par value, 50,000,000 authorized, none issued at December 31, 2023 and 2022, respectively 0 0
Treasury stock at cost, 3,349,395 and 1,780,141 shares at December 31, 2023 and 2022, respectively (16,493) (13,282)
Additional paid-in capital 821,055 788,601
Retained deficit (451,706) (342,137)
Noncontrolling interest 351,303 487,974
Total equity 704,484 921,473
Total liabilities and equity 6,151,048 6,609,934
Class A    
Equity:    
Common stock, $0.001 par value 87 74
Class B    
Equity:    
Common stock, $0.001 par value 0 0
Class C    
Equity:    
Common stock, $0.001 par value 141 146
Class D    
Equity:    
Common stock, $0.001 par value $ 97 $ 97