Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Assets    
Cash and cash equivalents $ 334,623 $ 101,735
Restricted cash 5,010 5,000
Mortgage loans held for sale 2,368,777 1,504,842
Ginnie Mae loans subject to repurchase right 1,275,842 404,344
Accounts and interest receivable 43,390 34,611
Derivative asset 130,338 19,922
Mortgage servicing rights, net 446,998 418,402
Goodwill 62,834 62,834
Other assets 150,275 55,723
Total assets 4,818,087 2,607,413
Liabilities and Stockholders’ Equity    
Warehouse lines of credit 2,143,443 1,303,187
Notes payable 145,750 218,000
Ginnie Mae loans subject to repurchase right 1,277,026 412,490
Accounts payable and accrued expenses 41,074 35,338
Accrued compensation and benefits 106,313 45,297
Investor reserves 14,535 16,521
Income taxes payable 19,454  
Due to parent company   12,427
Contingent liabilities due to acquisitions 18,094 8,073
Derivative liability 38,270 4,863
Operating lease liabilities 94,891  
Note due to related party 4,639 6,606
Deferred compensation plan 89,236 52,302
Deferred tax liability 89,370 86,278
Total liabilities 4,082,095 2,201,382
Commitments and contingencies (Note 17)
Stockholders’ Equity    
Preferred stock, $0.01 par value; 50,000,000 shares authorized; no shares issued and outstanding
Common stock   93
Additional paid-in capital 18,035 21,992
Retained earnings 717,357 383,946
Total stockholders’ equity 735,992 406,031
Total Liabilities and Stockholders’ Equity 4,818,087 $ 2,607,413
Class A Common Stock    
Stockholders’ Equity    
Common stock 197  
Total stockholders’ equity 197  
Class B Common Stock    
Stockholders’ Equity    
Common stock 403  
Total stockholders’ equity $ 403