Quarterly report [Sections 13 or 15(d)]

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 106,401 $ 118,203
Restricted cash 10,285 6,853
Mortgage loans held for sale, at fair value 1,750,229 1,523,447
Reverse mortgage loans held for investment, at fair value 557,972 451,704
Ginnie Mae loans subject to repurchase right 796,282 807,283
Mortgage servicing rights, at fair value 1,335,117 1,343,829
Advances, net 76,480 85,523
Property and equipment, net 22,171 19,032
Right-of-use assets 57,672 67,139
Goodwill and intangible assets, net 219,306 225,994
Other assets 165,119 119,296
Total assets 5,097,034 4,768,303
Liabilities and stockholders’ equity    
Warehouse lines of credit, net 1,593,909 1,414,563
Home Equity Conversion Mortgage-Backed Securities (“HMBS”) related borrowings 534,610 425,979
Ginnie Mae loans subject to repurchase right 799,926 817,271
Notes payable, net 339,131 300,000
Accounts payable and accrued expenses 116,778 92,401
Operating lease liabilities 66,834 76,980
Deferred tax liabilities 253,713 251,440
Other liabilities 154,552 135,659
Total liabilities 3,859,453 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 54,858 51,996
Retained earnings 1,181,657 1,200,908
Non-controlling interests 444 487
Total stockholders’ equity 1,237,581 1,254,010
Total liabilities and stockholders’ equity 5,097,034 4,768,303
Class A Common Stock    
Stockholders’ equity    
Common stock 219 216
Class B Common Stock    
Stockholders’ equity    
Common stock $ 403 $ 403