Business Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Segment Reporting Information


Financial information for our segments prepared under GAAP is as follows:
			Three Months Ended March 31, 2026
Results of Operations			Servicing						Originations						Corporate												Business Segments Consolidated
Servicing and subservicing fees			$	222.4					$	—					$	—											$	222.4
Gain on reverse loans and HMBS-related borrowings, net			14.2						4.5						—												18.7
Gain (loss) on loans held for sale, net			(2.7)						36.9						—												34.1
Other revenue, net			6.5						12.6						—												19.1
Revenue			240.3						53.9						—												294.3

MSR valuation adjustments, net			(80.5)						11.5						—												(69.0)

Operating expenses
Compensation and benefits			23.2						20.8						25.7												69.7
Servicing and origination			15.2						3.3						—												18.5
Technology and communications			8.3						2.8						6.4												17.5
Professional services			7.3						0.6						6.9												14.8
Occupancy, equipment and mailing			7.2						0.8						0.5												8.5
Corporate overhead allocations			14.7						5.2						(19.9)												—
Other expenses			0.2						1.5						1.4												3.1
Operating expenses			76.1						35.0						21.0												132.2

Other income (expense):
Interest income			18.0						21.8						1.2												41.0
Interest expense			(58.5)						(18.6)						(5.6)												(82.7)
Pledged MSR liability expense			(42.6)						—						—												(42.6)




Other, net			(0.6)						(0.4)						0.1												(0.9)
Other income (expense), net			(83.7)						2.8						(4.3)												(85.2)


Income (loss) before income taxes			$	—					$	33.2					$	(25.2)											$	7.9


			Three Months Ended March 31, 2025
Results of Operations			Servicing						Originations						Corporate												Business Segments Consolidated
Servicing and subservicing fees			$	203.3					$	—					$	—											203.3
Gain on reverse loans and HMBS-related borrowings, net			16.9						6.9						—												23.8
Gain (loss) on loans held for sale, net			(3.8)						15.6						—												11.8
Other revenue, net			4.8						6.2						—												10.9
Revenue			221.2						28.6						—												249.8

MSR valuation adjustments, net			(41.9)						3.0						—												(38.9)

Operating expenses
Compensation and benefits			23.1						12.4						21.9												57.4
Servicing and origination			11.7						1.1						0.2												13.0
Technology and communications			7.4						2.1						5.5												15.0
Professional services			6.3						0.5						15.9												22.6
Occupancy, equipment and mailing			7.1						0.7						0.4												8.2
Corporate overhead allocations			12.4						3.9						(16.4)												—
Other expenses			0.5						1.5						1.6												3.6
Operating expenses			68.6						22.2						29.1												119.9

Other income (expense):
Interest income			11.8						13.3						1.1												26.2
Interest expense			(47.9)						(12.7)						(6.4)												(67.0)
Pledged MSR liability expense			(41.9)						—						—												(41.9)





Other, net			0.5						(0.4)						0.8												0.9
Other income (expense), net			(77.5)						0.2						(4.5)												(81.9)

Income (loss) before income taxes			$	33.1					$	9.6					$	(33.6)											$	9.1


Total Assets			Servicing						Originations						Corporate												Business Segments Consolidated
March 31, 2026			$	15,175.1					$	2,212.4					$	347.7											$	17,735.2
December 31, 2025			14,683.5						1,252.3						234.8												16,170.6