Annual report pursuant to Section 13 and 15(d)

Segments - Summary of Financial Performance and Results by Segment (Details)

v3.22.0.1
Segments - Summary of Financial Performance and Results by Segment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Revenue    
Loan origination fees and gain on sale of loans, net $ 1,480,516 $ 1,759,871
Loan servicing and other fees 194,759 160,237
Valuation adjustment of mortgage servicing rights (101,572) (296,307)
Interest income (expense) 2,520 (2,519)
Other income, net 87 765
Net revenue 1,576,310 1,622,047
Expenses    
Salaries, incentive compensation and benefits 1,019,790 953,758
General and administrative 91,291 101,948
Occupancy, equipment and communication 67,328 57,070
Depreciation and amortization 11,488 7,501
Provision for foreclosure losses (518) 7,700
Income tax expense 103,149 123,493
Net income 283,782 370,577
Operating Segments    
Revenue    
Loan origination fees and gain on sale of loans, net 1,480,516 1,759,871
Loan servicing and other fees 194,759 160,237
Valuation adjustment of mortgage servicing rights (101,572) (296,307)
Interest income (expense) 8,700 5,925
Other income, net 106 158
Net revenue 1,582,509 1,629,884
Expenses    
Salaries, incentive compensation and benefits 981,469 889,397
General and administrative 81,202 94,269
Occupancy, equipment and communication 61,914 51,757
Depreciation and amortization 10,061 5,421
Provision for foreclosure losses (518) 7,700
Income tax expense 0 0
Net income 448,381 581,340
Corporate, Non-Segment    
Revenue    
Loan origination fees and gain on sale of loans, net 0 0
Loan servicing and other fees 0 0
Valuation adjustment of mortgage servicing rights 0 0
Interest income (expense) (6,180) (8,444)
Other income, net (19) 607
Net revenue (6,199) (7,837)
Expenses    
Salaries, incentive compensation and benefits 38,321 64,361
General and administrative 10,089 7,679
Occupancy, equipment and communication 5,414 5,313
Depreciation and amortization 1,427 2,080
Provision for foreclosure losses 0 0
Income tax expense 103,149 123,493
Net income (164,599) (210,763)
Origination | Operating Segments    
Revenue    
Loan origination fees and gain on sale of loans, net 1,468,465 1,753,517
Loan servicing and other fees 0 0
Valuation adjustment of mortgage servicing rights 0 0
Interest income (expense) 16,582 13,993
Other income, net (4) 25
Net revenue 1,485,043 1,767,535
Expenses    
Salaries, incentive compensation and benefits 953,772 864,322
General and administrative 71,480 84,999
Occupancy, equipment and communication 57,718 48,233
Depreciation and amortization 9,319 4,644
Provision for foreclosure losses 0 0
Income tax expense 0 0
Net income 392,754 765,337
Servicing | Operating Segments    
Revenue    
Loan origination fees and gain on sale of loans, net 12,051 6,354
Loan servicing and other fees 194,759 160,237
Valuation adjustment of mortgage servicing rights (101,572) (296,307)
Interest income (expense) (7,882) (8,068)
Other income, net 110 133
Net revenue 97,466 (137,651)
Expenses    
Salaries, incentive compensation and benefits 27,697 25,075
General and administrative 9,722 9,270
Occupancy, equipment and communication 4,196 3,524
Depreciation and amortization 742 777
Provision for foreclosure losses (518) 7,700
Income tax expense 0 0
Net income $ 55,627 $ (183,997)