Quarterly report pursuant to Section 13 or 15(d)

ACQUISITION (Tables)

v3.22.2.2
ACQUISITION (Tables)
 9 Months Ended
Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Estimated Fair Values of Identifiable Assets Acquired and Liabilities Assumed The following summarizes the estimated fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date, including measurement period adjustments:
Purchase price:
Cash paid at closing of the transaction $ 185,786 
Fair value of Class A common stock issued 15,289 
Estimated fair value of contingent consideration 63,956 
Total purchase price 265,031 
Fair value of assets acquired:
Cash, cash equivalents and restricted cash 85,559 
Mortgage loans held for sale 465,020 
Acquired intangible assets 45,000 
Right-of-use assets 11,855 
Other 36,923 
Total assets acquired 644,357 
Fair value of liabilities assumed:
Warehouse lines of credit 431,175 
Accounts payable and accrued expenses 26,960 
Operating lease liabilities 12,959 
Deferred taxes 16,231 
Other 2,601 
Total liabilities assumed 489,926 
Fair value of net identifiable assets acquired 154,431 
Goodwill $ 110,600 
Schedule of Estimate Fair Value and Useful Lives of Acquired Intangibles Assets by Major Class The following table summarizes the major classes of acquired intangible assets and their respective estimated fair values and estimated useful lives:
Estimated Fair Value Estimated Useful Life (Years)
Acquired intangible assets:
Referral network $ 42,300  6
Non-compete agreements 2,700  3
Total acquired intangible assets $ 45,000