v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents (includes restricted cash of $21.0 million and $21.0 million, respectively) $ 498,407 $ 503,364
Mortgage loans at fair value 9,619,076 9,932,729
Derivative assets 83,601 37,567
Investment securities at fair value, pledged 96,044 100,512
Accounts receivable, net 531,790 526,694
Mortgage servicing rights 5,311,465 4,073,781
Premises and equipment, net 174,559 180,199
Operating lease right-of-use asset (includes $90.3 million and $93.4 million, respectively, with related parties) 90,930 94,310
Finance lease right-of-use asset, net (includes $19.6 million and $20.7 million, respectively, with related parties) 20,116 21,247
Loans eligible for repurchase from Ginnie Mae 1,141,719 1,133,359
Other assets 372,835 324,914
Total assets 17,940,542 16,928,676
Liabilities and equity    
Warehouse lines of credit 8,600,078 8,912,496
Derivative liabilities 33,566 26,574
Secured lines of credit 2,950,000 1,200,000
Borrowings against investment securities 83,660 87,497
Accounts payable, accrued expenses and other 881,997 707,790
Accrued distributions and dividends payable 160,411 161,292
Senior notes 2,984,328 2,981,975
Operating lease liability (includes $96.4 million and $99.7 million, respectively, with related parties) 97,034 100,596
Finance lease liability (includes $22.0 million and $22.9 million, respectively, with related parties) 22,441 23,468
Loans eligible for repurchase from Ginnie Mae 1,141,719 1,133,359
Total liabilities 16,955,234 15,335,047
Equity    
Preferred stock, $0.0001 par value - 100,000,000 shares authorized, none issued and outstanding as of June 30, 2026 or December 31, 2025 0 0
Additional paid-in capital 15,032 9,910
Retained earnings 118,646 189,447
Non-controlling interest 851,470 1,394,112
Total equity 985,308 1,593,629
Total liabilities and equity 17,940,542 16,928,676
Common Class A    
Equity    
Common stock, $0.0001 par value 34 27
Common Class B    
Equity    
Common stock, $0.0001 par value 0 0
Common Class C    
Equity    
Common stock, $0.0001 par value 0 0
Common Class D    
Equity    
Common stock, $0.0001 par value $ 126 $ 133