Annual report pursuant to Section 13 and 15(d)

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

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SEGMENTS - Summary of Financial Performance and Results by Segment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Revenue    
Loan origination fees and gain on sale of loans, net $ 501,303 $ 703,674
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net 8,233 0
Loan servicing and other fees 246,144 223,403
Valuation adjustment of mortgage servicing rights (139,560) 217,551
Interest income (expense) 38,040 18,904
Other income, net 1,027 1,289
Net revenue 655,187 1,164,821
Expenses    
Salaries, incentive compensation and benefits 529,861 619,185
General and administrative 83,213 38,085
Occupancy, equipment and communication 72,476 71,707
Depreciation and amortization 14,580 15,525
Provision for foreclosure losses 1,188 300
Income tax (benefit) expense (6,994) 91,389
Net (loss) income (39,137) 328,630
Operating Segments    
Revenue    
Loan origination fees and gain on sale of loans, net 501,303 703,674
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net 8,233  
Loan servicing and other fees 246,144 223,403
Valuation adjustment of mortgage servicing rights (139,560) 217,551
Interest income (expense) 48,568 25,580
Other income, net 1,004 1,089
Net revenue 665,692 1,171,297
Expenses    
Salaries, incentive compensation and benefits 487,357 591,195
General and administrative 68,874 24,906
Occupancy, equipment and communication 67,584 67,375
Depreciation and amortization 13,981 14,543
Provision for foreclosure losses 1,188 300
Income tax (benefit) expense 0 0
Net (loss) income 26,708 472,978
Corporate, Non-Segment    
Revenue    
Loan origination fees and gain on sale of loans, net 0 0
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net 0  
Loan servicing and other fees 0 0
Valuation adjustment of mortgage servicing rights 0 0
Interest income (expense) (10,528) (6,676)
Other income, net 23 200
Net revenue (10,505) (6,476)
Expenses    
Salaries, incentive compensation and benefits 42,504 27,990
General and administrative 14,339 13,179
Occupancy, equipment and communication 4,892 4,332
Depreciation and amortization 599 982
Provision for foreclosure losses 0 0
Income tax (benefit) expense (6,994) 91,389
Net (loss) income (65,845) (144,348)
Origination | Operating Segments    
Revenue    
Loan origination fees and gain on sale of loans, net 501,789 697,822
Loan servicing and other fees 0 0
Valuation adjustment of mortgage servicing rights 0 0
Interest income (expense) 5,544 20,115
Other income, net 805 (57)
Net revenue 516,371 717,880
Expenses    
Salaries, incentive compensation and benefits 456,059 562,194
General and administrative 57,683 15,249
Occupancy, equipment and communication 62,799 62,556
Depreciation and amortization 13,485 13,889
Provision for foreclosure losses 0 0
Income tax (benefit) expense 0 0
Net (loss) income (73,655) 63,992
Servicing | Operating Segments    
Revenue    
Loan origination fees and gain on sale of loans, net (486) 5,852
Loan servicing and other fees 246,144 223,403
Valuation adjustment of mortgage servicing rights (139,560) 217,551
Interest income (expense) 43,024 5,465
Other income, net 199 1,146
Net revenue 149,321 453,417
Expenses    
Salaries, incentive compensation and benefits 31,298 29,001
General and administrative 11,191 9,657
Occupancy, equipment and communication 4,785 4,819
Depreciation and amortization 496 654
Provision for foreclosure losses 1,188 300
Income tax (benefit) expense 0 0
Net (loss) income 100,363 $ 408,986
Origination Segment | Operating Segments    
Revenue    
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net 8,233  
Servicing Segment | Operating Segments    
Revenue    
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net $ 0