v3.26.1
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenue    
Servicing and subservicing fees $ 222.4 $ 203.3
Gain on reverse loans and HMBS-related borrowings, net 18.7 23.8
Gain on loans held for sale, net 34.1 11.8
Other revenue, net 19.1 10.9
Total revenue 294.3 249.8
MSR valuation adjustments, net (69.0) (38.9)
Operating expenses    
Compensation and benefits 69.7 57.4
Servicing and origination 18.5 13.0
Technology and communications 17.5 15.0
Professional services 14.8 22.6
Occupancy, equipment and mailing 8.5 8.2
Other expenses 3.1 3.6
Total operating expenses 132.2 119.9
Other income (expense)    
Interest income 41.0 26.2
Interest expense (82.7) (67.0)
Pledged MSR liability expense (42.6) (41.9)
Other, net (0.9) 0.9
Other income (expense), net (85.2) (81.9)
Income before income taxes 7.9 9.1
Income tax expense (benefit) 0.3 (13.0)
Net income 7.6 22.1
Preferred stock dividend (1.0) (1.0)
Net income attributable to common stockholders $ 6.6 $ 21.1
Earnings per share attributable to common stockholders    
Basic (in USD per share) $ 0.78 $ 2.68
Diluted (in USD per share) $ 0.74 $ 2.50
Weighted average common shares outstanding    
Basic (in shares) 8,494,823 7,873,989
Diluted (in shares) 8,981,972 8,436,874