Quarterly report [Sections 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, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Reverse Mortgage Loans Held for Investment        
Balance — beginning of period $ 482,151 $ 348,076 $ 451,704 $ 315,912
Originations and purchases 35,306 36,940 65,520 67,483
Repayments (principal payments received) (9,570) (14,428) (18,829) (23,620)
Change in fair value recognized in earnings 9,012 5,594 18,504 16,407
Balance — end of period 516,899 376,182 516,899 376,182
HMBS-Related Borrowings        
Balance — beginning of period (461,002) (326,804) (425,979) (302,183)
Securitization of home equity conversion mortgages (“HECM”) loans and tails accounted for as a financing (including realized fair value changes) (36,284) (39,677) (73,935) (66,201)
Repayments (principal payments received) 9,551 11,840 18,756 21,326
Change in fair value recognized in earnings (6,421) (3,460) (12,998) (11,043)
Balance — end of period (494,156) (358,101) (494,156) (358,101)
Reverse Mortgage Loans Held for Investment        
Securitized loans (pledged to HMBS-related borrowings) 503,023 365,005 503,023 365,005
Unsecuritized loans and tail advances 13,876 11,177 13,876 11,177
Total 516,899 376,182 516,899 376,182
HMBS-Related Borrowings        
Securitized loans (pledged to HMBS-related borrowings) (494,156) (358,101) (494,156) (358,101)
HMBS-Related Borrowings $ (494,156) $ (358,101) $ (494,156) $ (358,101)