Quarterly report pursuant to Section 13 or 15(d)

REVERSE MORTGAGE LOANS HELD FOR INVESTMENT AND HMBS-RELATED BORROWINGS - Schedule of Loans Held For Investment (Details)

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REVERSE MORTGAGE LOANS HELD FOR INVESTMENT AND HMBS-RELATED BORROWINGS - Schedule of Loans Held For Investment (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Reverse Mortgage Loans Held for Investment        
Balance — beginning of period $ 348,076 $ 0 $ 315,912 $ 0
Originations and purchases 36,940 34,403 67,483 34,403
Repayments (principal payments received) (14,428)   (23,620)  
Change in fair value recognized in earnings 5,594 2,306 16,407 2,306
Balance — end of period 376,182 36,709 376,182 36,709
HMBS-Related Borrowings        
Balance — beginning of period (326,804) 0 (302,183) 0
Securitization of home equity conversion mortgages (“HECM”) loans and tails accounted for as a financing (including realized fair value changes) (39,677)   (66,201)  
Repayments (principal payments received) 11,840   21,326  
Change in fair value recognized in earnings (3,460)   (11,043)  
Balance — end of period (358,101) 0 (358,101) 0
Reverse Mortgage Loans Held for Investment        
Securitized loans (pledged to HMBS-related borrowings) 365,005   365,005  
Unsecuritized loans and tail advances 11,177 36,709 11,177 36,709
Total 376,182 36,709 376,182 36,709
HMBS-Related Borrowings        
Securitized loans (pledged to HMBS-related borrowings) (358,101)   (358,101)  
Home Equity Conversion Mortgage-Backed Securities Related Borrowings At Fair Value $ 358,101 $ 0 $ 358,101 $ 0