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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:          
Consolidated net income $ 585,191 $ 644 $ 629,769 $ 14,880  
Adjustments to reconcile net income to net cash (used in) provided by operating activities:          
Gain on originated MSRs     (70,574) (73,565)  
Depreciation and amortization 30,868 28,946 51,921 74,986  
Nasdaq earn-out recognition     (1,108,012) 0  
Provision/(reversals) for/of credit losses on the financial guarantee liability     (6,349) 14,702  
Provision for doubtful accounts     4,064 2,948  
Equity-based compensation and allocation of net income to limited partnership units and FPUs     296,073 23,774  
Employee loan amortization     36,777 31,926  
Deferred tax (benefit) provision     1,084 (24)  
Non-cash changes in acquisition related earnouts     752 (11,711)  
Unrealized (gains) on loans held for sale     (5,821) (25,158)  
Income from an equity method investment 1,000 4,100 0 4,116  
Realized loss (gains) on marketable securities     (4,643) 2,204  
Unrealized loss on marketable securities     16,640 0  
Realized loss (gains) on non-marketable investments     (2,531) 26,837  
Change in valuation of derivative asset     12,404 1,339  
Loan originations—loans held for sale     (3,283,534) (5,059,288)  
Loan sales—loans held for sale     3,960,169 4,210,307  
Other     1,775 3,022  
Consolidated net income, adjusted for non-cash and non-operating items     529,964 (758,705)  
Changes in operating assets and liabilities:          
Receivables, net     (31,230) 98,188  
Loans, forgivable loans and other receivables from employees and partners     (33,697) (115,783)  
Right of use asset     20,638 10,485  
Other assets     82,935 10,537  
Accrued compensation     118,936 (99,807)  
Right of use liability     (21,160) (10,221)  
Accounts payable, accrued expenses and other liabilities     123,425 (63,158)  
Payables to related parties     (4,669) (26,631)  
Net cash provided by (used in) operating activities     785,142 (955,095)  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Payments for acquisitions, net of cash acquired     (43,529) (5,850)  
Proceeds from the sale of marketable securities     35,412 34,591  
Purchases of fixed assets     (6,103) (11,977)  
Purchase of MSRs     0 (200)  
Net cash (used in) provided by investing activities     (14,220) 16,564  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from warehouse facilities     3,283,534 5,059,288  
Principal payments on warehouse facilities     (3,934,565) (4,204,840)  
Proceeds from the sale of limited partnership interests     4,025 0  
Borrowing of debt     55,000 365,000  
Repayment of debt     (55,000) 0  
Securities loaned     (33,278) (36,735)  
Redemption and repurchase of limited partnership interests     (2,321) 0  
Treasury stock repurchases     (55,202) 0  
Earnings distributions to limited partnership interests and other noncontrolling interests     (11,374) (74,715)  
Dividends to stockholders     (3,693) (19,563)  
Payments on acquisition earn-outs     (38,350) (1,759)  
Deferred financing costs     (450) (2,879)  
Net cash (used in) provided by financing activities     (791,674) 1,083,797  
Net increase in cash and cash equivalents and restricted cash     (20,752) 145,266  
Cash and cash equivalents and restricted cash at beginning of period     258,399 221,872 $ 221,872
Cash and cash equivalents and restricted cash at end of period $ 237,647 $ 367,138 237,647 367,138 $ 258,399
Cash paid during the period for:          
Interest     18,670 20,466  
Taxes     23,444 58,125  
Supplemental disclosure of non-cash operating, investing and financing activities:          
Right-of-use assets and liabilities     $ 252,163 $ 13,416