Quarterly report [Sections 13 or 15(d)]

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 107,364 $ 118,203
Restricted cash 7,066 6,853
Mortgage loans held for sale, at fair value 1,821,187 1,523,447
Reverse mortgage loans held for investment, at fair value 516,899 451,704
Ginnie Mae loans subject to repurchase right 753,707 807,283
Mortgage servicing rights, at fair value 1,303,599 1,343,829
Advances, net 61,001 85,523
Property and equipment, net 21,533 19,032
Right-of-use assets 59,987 67,139
Goodwill and intangible assets, net 221,535 225,994
Other assets 159,677 119,296
Total assets 5,033,555 4,768,303
Liabilities and stockholders’ equity    
Warehouse lines of credit, net 1,670,303 1,414,563
Home Equity Conversion Mortgage-Backed Securities (“HMBS”) related borrowings 494,156 425,979
Ginnie Mae loans subject to repurchase right 763,922 817,271
Notes payable, net 318,489 300,000
Accounts payable and accrued expenses 103,863 92,401
Operating lease liabilities 69,415 76,980
Deferred tax liabilities 241,491 251,440
Other liabilities 153,818 135,659
Total liabilities 3,815,457 3,514,293
Commitments and contingencies (Note 14)
Stockholders’ equity    
Preferred stock, $0.01 par value; 50,000,000 shares authorized; no shares issued and outstanding 0 0
Additional paid-in capital 52,876 51,996
Retained earnings 1,164,173 1,200,908
Non-controlling interests 427 487
Total stockholders’ equity 1,218,098 1,254,010
Total liabilities and stockholders’ equity 5,033,555 4,768,303
Class A Common Stock    
Stockholders’ equity    
Common stock 219 216
Class B Common Stock    
Stockholders’ equity    
Common stock $ 403 $ 403