Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Assets    
Cash and cash equivalents $ 120,260 $ 137,891
Restricted cash 7,121 8,863
Mortgage loans held for sale 901,227 845,775
Reverse mortgage loans held for investment 315,912 0
Ginnie Mae loans subject to repurchase right 699,622 650,179
Accounts and notes receivable, net 85,356 58,304
Derivative assets 15,595 3,120
Mortgage servicing rights, net 1,161,357 1,139,539
Intangible assets, net 25,125 33,075
Goodwill 186,181 176,769
Other assets 158,964 186,076
Total assets 3,676,720 3,239,591
Liabilities and stockholders’ equity    
Warehouse lines of credit, net 833,781 713,151
Home Equity Conversion Mortgage-Backed Securities (“HMBS”) related borrowings 302,183 0
Ginnie Mae loans subject to repurchase right 700,120 650,179
Accounts payable and accrued expenses 32,638 34,095
Accrued compensation and benefits 30,794 29,597
Investor reserves 19,973 16,094
Contingent liabilities due to acquisitions 8,720 526
Derivative liabilities 16,245 5,173
Operating lease liabilities 75,832 85,977
Deferred compensation plan 99,154 95,769
Deferred tax liabilities 225,021 232,963
Total liabilities 2,493,227 1,990,304
Commitments and contingencies (Note 18)
Stockholders’ equity    
Preferred stock, $0.01 par value; 50,000,000 shares authorized; no shares issued and outstanding 0 0
Additional paid-in capital 47,158 42,727
Retained earnings 1,135,387 1,205,885
Non-controlling interests 337 66
Total stockholders’ equity 1,183,493 1,249,287
Total liabilities and stockholders’ equity 3,676,720 3,239,591
Class A Common Stock    
Stockholders’ equity    
Common stock 208 206
Class B Common Stock    
Stockholders’ equity    
Common stock 403 403
Nonrelated Party    
Liabilities and stockholders’ equity    
Notes payable 148,766 126,250
Related Party    
Liabilities and stockholders’ equity    
Notes payable $ 0 $ 530