v3.25.1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 111,726 $ 118,203
Restricted cash 8,614 6,853
Mortgage loans held for sale, at fair value 1,358,920 1,523,447
Reverse mortgage loans held for investment, at fair value 482,151 451,704
Ginnie Mae loans subject to repurchase right 769,067 807,283
Mortgage servicing rights, at fair value 1,312,377 1,343,829
Advances, net 65,145 85,523
Property and equipment, net 19,879 19,032
Right-of-use assets 63,261 67,139
Goodwill and intangible assets, net 223,765 225,994
Other assets 134,824 119,296
Total assets 4,549,729 4,768,303
Liabilities and stockholders’ equity    
Warehouse lines of credit, net 1,224,127 1,414,563
Home Equity Conversion Mortgage-Backed Securities (“HMBS”) related borrowings 461,002 425,979
Ginnie Mae loans subject to repurchase right 776,777 817,271
Notes payable 340,000 300,000
Accounts payable and accrued expenses 89,364 92,401
Operating lease liabilities 72,984 76,980
Deferred tax liabilities 242,688 251,440
Other liabilities 142,542 135,659
Total liabilities 3,349,484 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 53,693 51,996
Retained earnings 1,145,508 1,200,908
Non-controlling interests 425 487
Total stockholders’ equity 1,200,245 1,254,010
Total liabilities and stockholders’ equity 4,549,729 4,768,303
Class A Common Stock    
Stockholders’ equity    
Common stock 216 216
Class B Common Stock    
Stockholders’ equity    
Common stock $ 403 $ 403