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Segments (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Schedule of Key Operating Data for Business Segments

Key operating data for our business segments for the periods ended:

Three Months Ended March 31, 2022						Direct to  Consumer						Partner  Network						Segments  Total						All Other						Total
Revenues
Gain on sale						$	1,217,103					$	258,056					$	1,475,159					$	8,627					$	1,483,786
Interest income						57,601						32,168						89,769						771						90,540
Interest expense on funding facilities						(26,727)						(14,969)						(41,696)						—						(41,696)
Servicing fee income						365,499						—						365,499						715						366,214
Changes in fair value of MSRs						454,380						—						454,380						—						454,380
Other income						167,027						16,477						183,504						133,868						317,372
Total U.S. GAAP Revenue, net						2,234,883						291,732						2,526,615						143,981						2,670,596
Less: Increase in MSRs due to valuation assumptions (net of hedges)						(739,217)						—						(739,217)						—						(739,217)
Adjusted revenue						1,495,666						291,732						1,787,398						143,981						1,931,379
Directly attributable expenses						869,210						120,034						989,244						118,872						1,108,116
Contribution margin						$	626,456					$	171,698					$	798,154					$	25,109					$	823,263

Three Months Ended March 31, 2021						Direct to Consumer						Partner Network						Segments Total						All Other						Total
Revenues
Gain on sale						$	2,863,600					$	684,428					$	3,548,028					$	4,414					$	3,552,442
Interest income						58,668						36,061						94,729						516						95,245
Interest expense on funding facilities						(42,006)						(25,818)						(67,824)						(20)						(67,844)
Servicing fee income						291,652						—						291,652						709						292,361
Changes in fair value of MSRs						200,555						—						200,555						—						200,555
Other income						304,912						27,778						332,690						133,422						466,112
Total U.S. GAAP Revenue, net						3,677,381						722,449						4,399,830						139,041						4,538,871
Less: Increase in MSRs due to valuation assumptions (net of hedges)						(499,084)						—						(499,084)						—						(499,084)
Adjusted revenue						3,178,297						722,449						3,900,746						139,041						4,039,787
Directly attributable expenses						973,129						179,777						1,152,906						65,067						1,217,973
Contribution margin						$	2,205,168					$	542,672					$	2,747,840					$	73,974					$	2,821,814

Schedule of Reconciliation of Segment Contribution Margin to Combined U.S. GAAP Income Before Taxes

The following table represents a reconciliation of segment contribution margin to consolidated U.S. GAAP income before taxes for the three months ended:

			Three Months Ended March 31,
			2022						2021
Contribution margin, excluding change in MSRs due to valuation assumptions			$	823,263					$	2,821,814
Increase in MSRs due to valuation assumptions (net of hedges)			739,217						499,084
Contribution margin, including change in MSRs due to valuation assumptions			1,562,480						3,320,898
Less expenses not allocated to segments:
Salaries, commissions and team member benefits			244,044						230,094
General and administrative expenses			192,457						194,494
Depreciation and amortization			21,042						15,304
Interest and amortization expense on non-funding debt			38,664						35,571
Other expenses			3,816						2,265
Income before income taxes			$	1,062,457					$	2,843,170

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- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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