v3.26.1
Segment Information - Schedule of Balance Sheet (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Jun. 30, 2025
Dec. 31, 2024
Assets:        
Cash and cash equivalents $ 287,525 $ 482,875 $ 255,742 $ 503,803
Restricted cash 138,382 67,347 $ 90,944 $ 156,376
Loans and investments, net 11,915,216 11,934,248    
Loans held-for-sale, net 375,797 409,081    
Capitalized mortgage servicing rights, net 323,887 340,842    
Securities held-to-maturity, net 157,137 156,087    
Investments in equity affiliates 82,762 57,966    
Real estate owned, net 545,946 498,938    
Goodwill and other intangible assets 85,770 86,553    
Other assets 440,403 460,966    
Total assets [1] 14,352,825 14,494,903    
Liabilities:        
Debt obligations 11,058,590 11,015,449    
Allowance for loss-sharing obligations 118,898 97,579    
Other liabilities 294,314 314,722    
Total liabilities [1] 11,471,802 11,427,750    
Structured Business        
Assets:        
Cash and cash equivalents 58,886 124,141    
Restricted cash 103,077 35,258    
Loans and investments, net 11,915,216 11,934,248    
Loans held-for-sale, net 0 0    
Capitalized mortgage servicing rights, net 0 0    
Securities held-to-maturity, net 0 0    
Investments in equity affiliates 82,762 57,966    
Real estate owned, net 545,946 498,938    
Goodwill and other intangible assets 12,500 12,500    
Other assets 345,603 382,735    
Total assets 13,063,990 13,045,786    
Liabilities:        
Debt obligations 10,699,313 10,625,053    
Allowance for loss-sharing obligations 0 0    
Other liabilities 211,266 241,873    
Total liabilities 10,910,579 10,866,926    
Agency Business        
Assets:        
Cash and cash equivalents 228,639 358,734    
Restricted cash 35,305 32,089    
Loans and investments, net 0 0    
Loans held-for-sale, net 375,797 409,081    
Capitalized mortgage servicing rights, net 323,887 340,842    
Securities held-to-maturity, net 157,137 156,087    
Investments in equity affiliates 0 0    
Real estate owned, net 0 0    
Goodwill and other intangible assets 73,270 74,053    
Other assets 94,800 78,231    
Total assets 1,288,835 1,449,117    
Liabilities:        
Debt obligations 359,277 390,396    
Allowance for loss-sharing obligations 118,898 97,579    
Other liabilities 83,048 72,849    
Total liabilities $ 561,223 $ 560,824    
[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs,") as we are the primary beneficiary of these VIEs. At June 30, 2026 and December 31, 2025, assets of our consolidated VIEs totaled $3,790,046 and $4,662,021, respectively, and the liabilities of our consolidated VIEs totaled $2,978,886 and $3,477,848, respectively. See Note 15 for discussion of our VIEs.