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v3.23.1

Segments - Key Operating Data for Business Segments (Details) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2023 USD ($) segment | Mar. 31, 2022 USD ($)
Segment Reporting [Abstract] |  |
Number of reportable segments | segment | 2 |
Segment Reporting Information [Line Items] |  |
Gain on sale | $ 469,563 | $ 1,483,786
Interest income | 66,744 | 90,540
Interest expense on funding facilities | (29,060) | (41,696)
Servicing fee income | 366,385 | 366,214
Changes in fair value of MSRs | (398,279) | 454,380
Other income | 190,715 | 317,372
Total U.S. GAAP Revenue, net | 666,068 | 2,670,596
Plus/Less: Decrease (increase) in MSRs due to valuation assumptions (net of hedges) | 216,058 | (739,217)
Adjusted revenue | 882,126 | 1,931,379
Less: Directly attributable expenses | 647,785 | 1,108,116
Contribution margin | 234,341 | 823,263
Reportable Segments |  |
Segment Reporting Information [Line Items] |  |
Gain on sale | 462,335 | 1,475,159
Interest income | 65,795 | 89,769
Interest expense on funding facilities | (29,006) | (41,696)
Servicing fee income | 365,217 | 365,499
Changes in fair value of MSRs | (398,279) | 454,380
Other income | 120,138 | 183,504
Total U.S. GAAP Revenue, net | 586,200 | 2,526,615
Plus/Less: Decrease (increase) in MSRs due to valuation assumptions (net of hedges) | 216,058 | (739,217)
Adjusted revenue | 802,258 | 1,787,398
Less: Directly attributable expenses | 570,942 | 989,244
Contribution margin | 231,316 | 798,154
Reportable Segments | Direct to Consumer |  |
Segment Reporting Information [Line Items] |  |
Gain on sale | 390,342 | 1,217,103
Interest income | 38,123 | 57,601
Interest expense on funding facilities | (16,808) | (26,727)
Servicing fee income | 365,217 | 365,499
Changes in fair value of MSRs | (398,279) | 454,380
Other income | 116,520 | 167,027
Total U.S. GAAP Revenue, net | 495,115 | 2,234,883
Plus/Less: Decrease (increase) in MSRs due to valuation assumptions (net of hedges) | 216,058 | (739,217)
Adjusted revenue | 711,173 | 1,495,666
Less: Directly attributable expenses | 505,583 | 869,210
Contribution margin | 205,590 | 626,456
Reportable Segments | Partner Network |  |
Segment Reporting Information [Line Items] |  |
Gain on sale | 71,993 | 258,056
Interest income | 27,672 | 32,168
Interest expense on funding facilities | (12,198) | (14,969)
Servicing fee income | 0 | 0
Changes in fair value of MSRs | 0 | 0
Other income | 3,618 | 16,477
Total U.S. GAAP Revenue, net | 91,085 | 291,732
Plus/Less: Decrease (increase) in MSRs due to valuation assumptions (net of hedges) | 0 | 0
Adjusted revenue | 91,085 | 291,732
Less: Directly attributable expenses | 65,359 | 120,034
Contribution margin | 25,726 | 171,698
All Other |  |
Segment Reporting Information [Line Items] |  |
Gain on sale | 7,228 | 8,627
Interest income | 949 | 771
Interest expense on funding facilities | (54) | 0
Servicing fee income | 1,168 | 715
Changes in fair value of MSRs | 0 | 0
Other income | 70,577 | 133,868
Total U.S. GAAP Revenue, net | 79,868 | 143,981
Plus/Less: Decrease (increase) in MSRs due to valuation assumptions (net of hedges) | 0 | 0
Adjusted revenue | 79,868 | 143,981
Less: Directly attributable expenses | 76,843 | 118,872
Contribution margin | $ 3,025 | $ 25,109

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- Definition All amounts that, per contract, are due to the servicer in exchange for servicing the financial asset and would no longer be received by a servicer if the beneficial owners of the serviced assets (or their trustees or agents) were to exercise their actual or potential authority under the contract to shift the servicing to another servicer. Depending on the servicing contract, those fees may include some or all of the difference between the interest rate collected on the asset being serviced and the rate to be paid to the beneficial owners of the asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=128311188&loc=d3e122596-111746 + Details
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- Definition The net gain (loss) resulting from a sale of loans, including adjustments to record loans classified as held-for-sale at the lower-of-cost-or-market and fair value adjustments to loan held for investment purposes. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.13(h)) -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.3(a)) -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.1) -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 + Details
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- Definition Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 18 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8672-108599 + Details
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income after deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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