v3.26.1
Business Segment Reporting - Financial Information By Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Portfolio interest income    
Interest income $ 467,603 $ 480,602
Interest expense (401,333) (410,167)
NET PORTFOLIO INTEREST INCOME 66,270 70,435
Other income (expense)    
Net origination gains 60,887 46,038
Gains on securitization of HECM tails, net 11,667 10,481
Fair value changes from model amortization (32,020) (40,956)
Fair value changes from market inputs or model assumptions 19,924 88,263
Net fair value changes on loans and related obligations 60,458 103,826
Fee income 6,112 6,346
NET OTHER INCOME (EXPENSE) 53,872 95,260
Total revenues 120,142 165,695
Expenses    
Salaries, benefits, and related expenses 42,604 33,930
Loan production and portfolio related expenses 17,666 11,330
Loan servicing expenses 7,446 7,741
Marketing and advertising expenses 13,339 10,731
Amortization and depreciation 9,852 9,658
General and administrative expenses 14,459 12,979
TOTAL EXPENSES 105,366 86,369
Other, net 21,481 2,367
NET INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 36,257 81,693
Continuing Operations    
Portfolio interest income    
Interest income 467,603 480,602
Interest expense (401,333) (410,167)
NET PORTFOLIO INTEREST INCOME 66,270 70,435
Other income (expense)    
Net origination gains 60,887 46,038
Gains on securitization of HECM tails, net 11,667 10,481
Fair value changes from model amortization (32,020) (40,956)
Fair value changes from market inputs or model assumptions 19,924 88,263
Net fair value changes on loans and related obligations 60,458 103,826
Fee income 6,112 6,346
Non-funding interest expense, net (12,698) (14,912)
NET OTHER INCOME (EXPENSE) 53,872 95,260
Total revenues 120,142 165,695
Expenses    
Salaries, benefits, and related expenses 42,604 33,930
Loan production and portfolio related expenses 17,666 11,330
Loan servicing expenses 7,446 7,741
Marketing and advertising expenses 13,339 10,731
Amortization and depreciation 9,852 9,658
General and administrative expenses 14,459 12,979
TOTAL EXPENSES 105,366 86,369
Other, net 21,481 2,367
NET INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 36,257 81,693
Operating segments | Continuing Operations    
Portfolio interest income    
Interest income 467,603 480,602
Interest expense (401,333) (410,167)
NET PORTFOLIO INTEREST INCOME 66,270 70,435
Other income (expense)    
Net origination gains 60,887 46,038
Gains on securitization of HECM tails, net 11,667 10,481
Fair value changes from model amortization (32,020) (40,956)
Fair value changes from market inputs or model assumptions 19,924 88,263
Net fair value changes on loans and related obligations 60,458 103,826
Fee income 6,235 6,469
Non-funding interest expense, net 0 0
NET OTHER INCOME (EXPENSE) 66,693 110,295
Total revenues 132,963 180,730
Expenses    
Salaries, benefits, and related expenses 30,011 25,484
Loan production and portfolio related expenses 17,666 11,330
Loan servicing expenses 7,446 7,741
Marketing and advertising expenses 13,339 10,730
Amortization and depreciation 9,414 9,348
General and administrative expenses 8,787 7,560
TOTAL EXPENSES 86,663 72,193
Other, net 0 0
NET INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 46,300 108,537
Operating segments | Retirement Solutions | Continuing Operations    
Portfolio interest income    
Interest income 0 0
Interest expense 0 0
NET PORTFOLIO INTEREST INCOME 0 0
Other income (expense)    
Net origination gains 60,887 46,038
Gains on securitization of HECM tails, net 0 0
Fair value changes from model amortization 0 0
Fair value changes from market inputs or model assumptions 0 0
Net fair value changes on loans and related obligations 60,887 46,038
Fee income 5,742 5,683
Non-funding interest expense, net 0 0
NET OTHER INCOME (EXPENSE) 66,629 51,721
Total revenues 66,629 51,721
Expenses    
Salaries, benefits, and related expenses 25,713 21,852
Loan production and portfolio related expenses 1,934 1,526
Loan servicing expenses 0 0
Marketing and advertising expenses 13,339 10,730
Amortization and depreciation 9,409 9,330
General and administrative expenses 6,321 5,024
TOTAL EXPENSES 56,716 48,462
Other, net 0 0
NET INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 9,913 3,259
Operating segments | Portfolio Management | Continuing Operations    
Portfolio interest income    
Interest income 467,603 480,602
Interest expense (401,333) (410,167)
NET PORTFOLIO INTEREST INCOME 66,270 70,435
Other income (expense)    
Net origination gains 0 0
Gains on securitization of HECM tails, net 11,667 10,481
Fair value changes from model amortization (32,020) (40,956)
Fair value changes from market inputs or model assumptions 19,924 88,263
Net fair value changes on loans and related obligations (429) 57,788
Fee income 493 786
Non-funding interest expense, net 0 0
NET OTHER INCOME (EXPENSE) 64 58,574
Total revenues 66,334 129,009
Expenses    
Salaries, benefits, and related expenses 4,298 3,632
Loan production and portfolio related expenses 15,732 9,804
Loan servicing expenses 7,446 7,741
Marketing and advertising expenses 0 0
Amortization and depreciation 5 18
General and administrative expenses 2,466 2,536
TOTAL EXPENSES 29,947 23,731
Other, net 0 0
NET INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 36,387 105,278
Corporate and Other | Continuing Operations    
Portfolio interest income    
Interest income 0 0
Interest expense 0 0
NET PORTFOLIO INTEREST INCOME 0 0
Other income (expense)    
Net origination gains 0 0
Gains on securitization of HECM tails, net 0 0
Fair value changes from model amortization 0 0
Fair value changes from market inputs or model assumptions 0 0
Net fair value changes on loans and related obligations 0 0
Fee income (123) (123)
Non-funding interest expense, net (12,698) (14,912)
NET OTHER INCOME (EXPENSE) (12,821) (15,035)
Total revenues (12,821) (15,035)
Expenses    
Salaries, benefits, and related expenses 12,593 8,446
Loan production and portfolio related expenses 0 0
Loan servicing expenses 0 0
Marketing and advertising expenses 0 1
Amortization and depreciation 438 310
General and administrative expenses 5,672 5,419
TOTAL EXPENSES 18,703 14,176
Other, net 21,481 2,367
NET INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES $ (10,043) $ (26,844)