v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Cash and cash equivalents $ 229,128 $ 337,232
Restricted cash 70,717 63,790
Loans held for sale, at fair value (includes $802,806 and $606,215 pledged to creditors in securitization trusts at June 30, 2026 and December 31, 2025, respectively) 2,643,032 3,165,542
Loans held for investment, at fair value (pledged to creditors in a securitization trust) 106,268 109,821
Derivative assets, at fair value 59,225 42,365
Servicing rights, at fair value (includes $696,417 and $661,475 pledged to creditors in securitization trusts at June 30, 2026 and December 31, 2025, respectively) 1,779,817 1,658,223
Trading securities, at fair value 82,008 85,640
Property and equipment, net 65,485 61,929
Operating lease right-of-use assets 25,951 23,877
Loans eligible for repurchase 1,401,739 1,074,386
Investments in joint ventures 18,177 18,251
Other assets 215,013 216,880
Total assets 6,696,560 6,857,936
Liabilities    
Warehouse and other lines of credit 2,443,802 2,902,539
Accounts payable, accrued expenses and other liabilities 346,638 349,350
Derivative liabilities, at fair value 6,341 10,718
Liability for loans eligible for repurchase 1,401,739 1,074,386
Operating lease liability 34,790 34,630
Debt obligations, net 2,130,204 2,100,303
Total liabilities 6,363,514 6,471,926
Commitments and contingencies (Note 15)
Equity    
Preferred stock, $0.001 par value, 50,000,000 authorized, none issued at June 30, 2026 and December 31, 2025, respectively 0 0
Treasury stock at cost, 10,342,938 and 8,779,081 shares at June 30, 2026 and December 31, 2025, respectively (32,057) (29,635)
Additional paid-in capital 888,977 878,204
Retained deficit (656,237) (614,398)
Noncontrolling interest 132,015 151,496
Total equity 333,046 386,010
Total liabilities and equity 6,696,560 6,857,936
Class A    
Equity    
Common stock 242 138
Class B    
Equity    
Common stock 106 0
Class C    
Equity    
Common stock 0 108
Class D    
Equity    
Common stock $ 0 $ 97