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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows From Operating Activities    
Net income $ 649,585 $ 697,825
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Change in fair value of investments, net 25,741 560,017
Change in fair value of equity investments (21,595) 27,509
Change in fair value of secured notes and bonds payable 6,714 (5,890)
Gain on settlement of investments, net (298,654) (402,449)
Gain on sale of originated residential mortgage loans, held-for-sale, net (480,894) (437,082)
Gain on transfer of loans to real estate owned (“REO”) (1,054) (10,120)
Accretion and other amortization (62,331) (74,730)
Provision (reversal) for credit losses on securities, loans and REO (3,509) 6,455
Non-cash portions of servicing revenue, net 795,917 158,344
Deferred tax provision 57,232 86,324
Mortgage loans originated and purchased for sale, net of fees (42,579,305) (30,003,362)
Sales proceeds and loan repayment proceeds for residential mortgage loans, held-for-sale 41,042,180 30,088,541
Interest received from servicer advance investments, RMBS, loans and other 37,942 42,932
Interest received from reverse repurchase agreements 52,319 0
Residential mortgage loan repayment proceeds of consolidated CFEs 281,190 196,166
Mortgage loans receivable repayment proceeds of consolidated CFEs 0 255,798
Purchase of investments of consolidated CFEs (30,017) 0
Proceeds from sale and repayments of investments of consolidated CFEs 27,626 0
Changes in:    
Servicer advances receivable, net 262,689 339,610
Other assets (42,354) 15,312
Accrued expenses and other liabilities (151,265) 199,341
Net cash provided by (used in) operating activities (431,843) 1,740,541
Cash Flows From Investing Activities    
Business acquisitions, net of cash acquired (603,778) 0
Maturity of Treasury securities 50,000 0
Purchase of Treasury securities (12,336,258) (973,795)
Purchase of servicer advance investments (590,261) (644,594)
Purchase of Excess MSR (122,887) 0
Purchase of government-backed and other securities (1,263,422) (4,094,458)
Treasury sales and Treasury securities payable 7,238,851 0
Reverse repurchase agreements entered (1,747,581) 0
Reverse repurchase agreements closed 3,527,806 0
Purchase of residential mortgage loans 0 (1,269)
Purchase of SFR properties, MSRs and other assets (402,325) (72,503)
Purchase of mortgage loans receivable 0 (146,631)
Draws on revolving consumer loans (15,996) (20,675)
Origination of mortgage loans receivable (1,986,291) 0
Net settlement of derivatives 364,598 390,415
Return of investments in Excess MSRs 30,825 23,066
Return of investments in equity method investees 27,532 0
Principal repayments from servicer advance investments 614,504 675,261
Principal repayments from government, government-backed and other securities 580,385 477,480
Principal repayments from residential mortgage loans 34,728 35,064
Principal repayments from consumer loans 432,742 267,820
Loan originations and draws of consolidated CFEs (4,766) 0
Settlement of sale of MSRs and MSR financing receivables (2,748) 705,300
Proceeds from sale of government-backed and other securities 2,583,782 1,868,702
Proceeds from sale of REO 24,214 19,806
Net cash provided by (used in) investing activities (2,087,529) (1,491,011)
Cash Flows From Financing Activities    
Repayments of secured financing agreements (59,703,853) (31,733,802)
Repayments of warehouse credit facilities (45,795,817) (31,076,021)
Repayment of Senior Unsecured Notes (275,000) 0
Net settlement of margin deposits under repurchase agreements and derivatives (315,327) (676,511)
Repayments of secured notes and bonds payable (4,522,883) (5,024,509)
Deferred financing fees (10,924) (7,084)
Dividends paid on common and preferred stock (432,124) (427,583)
Borrowings under secured financing agreements 61,424,725 34,530,433
Borrowings under warehouse credit facilities 46,863,558 30,625,465
Borrowings under notes receivable financing 364,977 0
Borrowings under secured notes and bonds payable 3,362,481 3,561,756
Proceeds from issuance of debt obligations of consolidated CFEs 1,295,710 150,586
Repayments of debt obligations of consolidated CFEs (598,906) (190,881)
Proceeds from issuance of Senior Unsecured Notes 767,103 0
Issuance of common and preferred stock 409,450 0
Noncontrolling interest in equity of consolidated subsidiaries - contributions 38,211 0
Noncontrolling interest in equity of consolidated subsidiaries - distributions (19,650) (17,597)
Purchase of noncontrolling interest in the SpringCastle loans (26,042) 0
Net cash provided by (used in) financing activities 2,825,689 (285,748)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 306,317 (36,218)
Cash, Cash Equivalents and Restricted Cash, Beginning of Period 1,697,095 1,629,328
Cash, Cash Equivalents and Restricted Cash, End of Period 2,003,412 1,593,110
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest 1,364,449 975,872
Cash paid during the period for income taxes 9,573 1,798
Supplemental Schedule of Non-Cash Investing and Financing Activities    
Dividends declared but not paid on common and preferred stock 154,652 143,199
Transfer from residential mortgage loans to REO and other assets 6,327 21,135
Real estate securities retained from loan securitizations 37,470 0
Residential mortgage loans subject to repurchase 2,409,992 1,443,546
Cashless exercise of 2020 warrants (par) 0 93
Liabilities related to deconsolidated CFEs 352,900 0
Seller financing in Marcus loan acquisition 0 1,317,347
Consolidated Entity, Excluding Consolidated VIE    
Cash Flows From Investing Activities    
Principal repayments from mortgage loans receivable 1,146,123 0
Variable Interest Entity, Primary Beneficiary    
Cash Flows From Investing Activities    
Principal repayments from mortgage loans receivable $ 332,694 $ 0