Quarterly report pursuant to Section 13 or 15(d)

SEGMENTS - Schedule of Financial Performance and Results by Segment (Details)

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SEGMENTS - Schedule of Financial Performance and Results by Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue                
Loan origination fees and gain on sale of loans, net $ 158,126     $ 154,618     $ 387,702 $ 605,229
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net 2,755     0     5,061 0
Loan servicing and other fees 61,941     57,647     182,239 165,419
Valuation adjustment of mortgage servicing rights 22,077     41,764     (4,904) 247,439
Interest income (expense) 11,954     6,251     27,192 11,250
Other income, net 404     940     663 1,182
Net revenue 257,257     261,220     597,953 1,030,519
Expenses                
Salaries, incentive compensation and benefits 142,637     137,372     398,660 502,893
General and administrative 18,809     19,412     60,140 20,153
Occupancy, equipment and communication 18,536     17,302     54,368 54,587
Depreciation and amortization 3,664     3,895     11,063 11,616
Provision for (reversal of) foreclosure losses 84     (3,449)     554 (1,974)
Income tax expense (benefit) 19,284     9,321     19,184 99,615
Net income (loss) 54,243 $ 36,936 $ (37,195) 77,367 $ 58,289 $ 207,973 53,984 343,629
Operating Segments                
Revenue                
Loan origination fees and gain on sale of loans, net 158,126     154,618     387,702 605,229
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net 2,755           5,061  
Loan servicing and other fees 61,941     57,647     182,277 165,419
Valuation adjustment of mortgage servicing rights 22,077     41,764     (4,904) 247,439
Interest income (expense) 14,596     7,780     34,903 15,950
Other income, net 390     947     657 997
Net revenue 259,885     262,756     605,696 1,035,034
Expenses                
Salaries, incentive compensation and benefits 132,082     131,864     367,432 486,090
General and administrative 15,649     16,126     50,324 10,797
Occupancy, equipment and communication 17,401     16,245     51,243 51,244
Depreciation and amortization 3,452     3,657     10,575 10,857
Provision for (reversal of) foreclosure losses 84     (3,449)     554 (1,974)
Income tax expense (benefit) 0     0     0 0
Net income (loss) 91,217     98,313     125,568 478,020
All Other                
Revenue                
Loan origination fees and gain on sale of loans, net 0     0     0 0
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net 0           0  
Loan servicing and other fees 0     0     (38) 0
Valuation adjustment of mortgage servicing rights 0     0     0 0
Interest income (expense) (2,642)     (1,529)     (7,711) (4,700)
Other income, net 14     (7)     6 185
Net revenue (2,628)     (1,536)     (7,743) (4,515)
Expenses                
Salaries, incentive compensation and benefits 10,555     5,508     31,228 16,803
General and administrative 3,160     3,286     9,816 9,356
Occupancy, equipment and communication 1,135     1,057     3,125 3,343
Depreciation and amortization 212     238     488 759
Provision for (reversal of) foreclosure losses 0     0     0 0
Income tax expense (benefit) 19,284     9,321     19,184 99,615
Net income (loss) (36,974)     (20,946)     (71,584) (134,391)
Origination | Operating Segments                
Revenue                
Loan origination fees and gain on sale of loans, net 158,812     154,319     387,587 599,285
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net 2,755           5,061  
Loan servicing and other fees 0     0     0 0
Valuation adjustment of mortgage servicing rights 0     0     0 0
Interest income (expense) 1,388     4,388     4,019 17,183
Other income, net 341     (32)     507 (57)
Net revenue 163,296     158,675     397,174 616,411
Expenses                
Salaries, incentive compensation and benefits 123,978     124,909     344,259 464,368
General and administrative 12,696     13,706     42,251 3,455
Occupancy, equipment and communication 15,995     15,043     47,356 47,645
Depreciation and amortization 3,435     3,498     10,198 10,374
Provision for (reversal of) foreclosure losses 0     0     0 0
Income tax expense (benefit) 0     0     0 0
Net income (loss) 7,192     1,519     (46,890) 90,569
Servicing | Operating Segments                
Revenue                
Loan origination fees and gain on sale of loans, net (686)     299     115 5,944
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net 0           0  
Loan servicing and other fees 61,941     57,647     182,277 165,419
Valuation adjustment of mortgage servicing rights 22,077     41,764     (4,904) 247,439
Interest income (expense) 13,208     3,392     30,884 (1,233)
Other income, net 49     979     150 1,054
Net revenue 96,589     104,081     208,522 418,623
Expenses                
Salaries, incentive compensation and benefits 8,104     6,955     23,173 21,722
General and administrative 2,953     2,420     8,073 7,342
Occupancy, equipment and communication 1,406     1,202     3,887 3,599
Depreciation and amortization 17     159     377 483
Provision for (reversal of) foreclosure losses 84     (3,449)     554 (1,974)
Income tax expense (benefit) 0     0     0 0
Net income (loss) $ 84,025     $ 96,794     $ 172,458 $ 387,451