XML 19 R2.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Assets    
Cash and cash equivalents $ 2,813,876 $ 1,421,907
Restricted cash and restricted cash equivalents 483,141 424,395
Investment securities (includes available-for-sale securities of $486,091 and $195,438 at fair value with associated amortized cost of $486,999 and $203,418, as of September 30, 2023 and December 31, 2022, respectively) 579,738 396,769
Loans held for sale, at fair value 20,993,836 13,557,074
Loans held for investment (less allowance for credit losses on loans at amortized cost of $51,923 and $40,788, as of September 30, 2023 and December 31, 2022, respectively) 361,248 307,957
Servicing rights 142,654 149,854
Property, equipment and software 201,931 170,104
Goodwill 1,393,505 1,622,991
Intangible assets 387,307 442,155
Operating lease right-of-use assets 93,379 97,135
Other assets (less allowance for credit losses of $1,581 and $2,785, as of September 30, 2023 and December 31, 2022, respectively) 526,538 417,334
Total assets 27,977,153 19,007,675
Deposits:    
Interest-bearing deposits 15,607,349 7,265,792
Noninterest-bearing deposits 64,624 76,504
Total deposits 15,671,973 7,342,296
Accounts payable, accruals and other liabilities 566,477 516,215
Operating lease liabilities 113,361 117,758
Debt 6,241,386 5,485,882
Residual interests classified as debt 10,194 17,048
Total liabilities 22,603,391 13,479,199
Commitments, guarantees, concentrations and contingencies (Note 15)
Temporary equity:    
Redeemable preferred stock, $0.00 par value: 100,000,000 and 100,000,000 shares authorized; 3,234,000 and 3,234,000 shares issued and outstanding, as of September 30, 2023 and December 31, 2022, respectively [1] 320,374 320,374
Permanent equity:    
Common stock [2] 95 93
Additional paid-in capital 6,904,869 6,719,826
Accumulated other comprehensive income (loss) 600 (8,296)
Accumulated deficit (1,852,176) (1,503,521)
Total permanent equity 5,053,388 5,208,102
Total liabilities, temporary equity and permanent equity 27,977,153 19,007,675
Variable Interest Entity, Primary Beneficiary    
Assets    
Restricted cash and restricted cash equivalents 63,260 68,151
Loans held for sale, at fair value 894,073 931,701
Total assets 957,333 999,852
Deposits:    
Accounts payable, accruals and other liabilities 1,458 3,053
Debt 619,574 771,454
Residual interests classified as debt 10,194 17,048
Total liabilities $ 631,226 $ 791,555
[1] Redemption amount is $323,400 as of September 30, 2023 and December 31, 2022.
[2] Includes 100,000,000 non-voting common shares authorized and no non-voting common shares issued and outstanding as of September 30, 2023 and December 31, 2022. See Note 10. Equity for additional information.