Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 118,203 $ 120,260
Restricted cash 6,853 7,121
Mortgage loans held for sale, at fair value 1,523,447 901,227
Reverse mortgage loans held for investment, at fair value 451,704 315,912
Ginnie Mae loans subject to repurchase right 807,283 699,622
Mortgage servicing rights, at fair value 1,343,829 1,161,357
Advances, net 85,523 64,748
Property and equipment, net 19,032 13,913
Right-of-use assets 67,139 65,273
Goodwill and intangible assets, net 225,994 211,306
Other assets 119,296 115,981
Total assets 4,768,303 3,676,720
Liabilities and stockholders’ equity    
Warehouse lines of credit, net 1,414,563 833,781
Home Equity Conversion Mortgage-Backed Securities (“HMBS”) related borrowings 425,979 302,183
Ginnie Mae loans subject to repurchase right 817,271 700,120
Notes payable 300,000 148,766
Accounts payable and accrued expenses 92,401 63,432
Operating lease liabilities 76,980 75,832
Deferred tax liabilities 251,440 225,021
Other liabilities 135,659 144,092
Total liabilities 3,514,293 2,493,227
Commitments and contingencies (Note 20)
Stockholders’ equity    
Preferred stock, $0.01 par value; 50,000,000 shares authorized; no shares issued and outstanding 0 0
Additional paid-in capital 51,996 47,158
Retained earnings 1,200,908 1,135,387
Non-controlling interests 487 337
Total stockholders’ equity 1,254,010 1,183,493
Total liabilities and stockholders’ equity 4,768,303 3,676,720
Class A Common Stock    
Stockholders’ equity    
Common stock 216 208
Class B Common Stock    
Stockholders’ equity    
Common stock $ 403 $ 403