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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Consolidated net income $ (16,349) $ 714
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Gains on originated mortgage servicing rights (8,965) (36,199)
Depreciation and amortization 38,830 35,475
Provision for credit losses on the financial guarantee liability 2,803 195
Provision for doubtful accounts (1,945) 3,788
Equity-based compensation and allocation of net income to limited partnership units and FPUs 35,648 16,899
Employee loan amortization 25,380 18,861
Deferred tax (benefit) provision 0 (94)
Non-cash changes in acquisition related earn-outs 191 0
Unrealized (gains) on loans held for sale (6,188) (965)
Unrealized (gains) on investments 0 (1,599)
Loss (income) from an equity method investment (3,583) 0
Realized losses on marketable securities 0 7,470
Unrealized losses on marketable securities 346 80,130
Change in valuation of derivative asset 0 313
Loan originations—loans held for sale (802,191) (1,671,022)
Loan sales—loans held for sale 511,872 2,171,797
Other 5,843 611
Consolidated net income (loss), adjusted for non-cash and non-operating items (218,308) 626,374
Changes in operating assets and liabilities:    
Receivables, net 25,029 36,663
Loans, forgivable loans and other receivables from employees and partners (130,453) (29,123)
Right-of-use asset (740) 9,854
Receivable from related parties 0 8,262
Other assets (9,397) (34,785)
Accrued compensation (90,112) (108,570)
Right-of-use liability 6,189 (6,014)
Accounts payable, accrued expenses and other liabilities 27,398 (13,990)
Payables to related parties (8,446) 13,484
Net cash provided by (used in) operating activities (398,840) 502,155
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payments for acquisitions, net of cash acquired and proceeds from divestitures 99,885 0
Proceeds from the sale of marketable securities 0 437,820
Purchase of non-marketable investments 0 (2,355)
Purchases of fixed assets (18,174) (8,669)
Net cash provided by (used in) investing activities (118,059) 426,796
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from warehouse facilities 802,191 1,671,022
Principal payments on warehouse facilities (511,896) (2,150,011)
Borrowing of debt 225,000 0
Repurchase agreements and securities loaned 0 (140,007)
Treasury stock repurchases 0 (30,893)
Earnings and tax distributions to limited partnership interests and other noncontrolling interests (11,429) (20,818)
Dividends to stockholders (5,215) (1,893)
Payments on acquisition earn-outs 0 (2,131)
Deferred financing costs 0 (2,761)
Net cash provided by (used in) financing activities 498,651 (677,492)
Net increase (decrease) in cash and cash equivalents and restricted cash (18,248) 251,459
Cash and cash equivalents and restricted cash at beginning of period 312,952 266,500
Cash and cash equivalents and restricted cash at end of period 294,704 517,959
Cash paid during the period for:    
Interest 359 0
Taxes 8,782 26,190
Supplemental disclosure of non-cash operating, investing and financing activities:    
Right-of-use assets and liabilities $ 50,081 $ 44,703