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Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Reconciliation of Adjusted Pretax Operating Income (Loss) by Segment | The reconciliation of adjusted pretax operating income (loss) for our reportable segments to consolidated pretax income (loss) is as follows.
Reconciliation of adjusted pretax operating income (loss) by segment
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Adjusted pretax operating income (loss) |  |  |  |  |  |  |  |
Mortgage |  | $ | 295,675 |  |  | $ | 165,220 |  |  | $ | 890,036 |  |  | $ | 534,972 |
homegenius |  | (25,536) |  |  | (5,557) |  |  | (56,732) |  |  | (25,208) |
Total adjusted pretax operating income for reportable segments (1) |  | 270,139 |  |  | 159,663 |  |  | 833,304 |  |  | 509,764 |
All Other adjusted pretax operating income |  | 2,581 |  |  | 986 |  |  | 6,397 |  |  | 2,920 |
Net gains (losses) on investments and other financial instruments |  | (16,252) |  |  | 2,098 |  |  | (87,578) |  |  | 12,578 |
Amortization of other acquired intangible assets |  | (1,023) |  |  | (862) |  |  | (2,721) |  |  | (2,587) |
Impairment of other long-lived assets and other non-operating items |  | 16 |  |  | (244) |  |  | 79 |  |  | (4,349) |
Consolidated pretax income |  | $ | 255,461 |  |  | $ | 161,641 |  |  | $ | 749,481 |  |  | $ | 518,326 |
(1)Includes allocated corporate operating expenses and depreciation expense as follows.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Mortgage |  |  |  |  |  |  |  |
Allocated corporate operating expenses (a) |  | $ | 32,457 |  |  | $ | 33,963 |  |  | $ | 101,903 |  |  | $ | 94,177 |
Direct depreciation expense |  | 2,234 |  |  | 2,240 |  |  | 6,803 |  |  | 7,342 |
homegenius |  |  |  |  |  |  |  |
Allocated corporate operating expenses (b) |  | $ | 5,555 |  |  | $ | 4,918 |  |  | $ | 16,554 |  |  | $ | 13,635 |
Direct depreciation expense |  | 646 |  |  | 639 |  |  | 1,932 |  |  | 1,828 |
(a)Includes allocated depreciation expense of $0.7 million and $2.3 million for the three and nine months ended September 30, 2022, respectively, and $0.8 million and $2.5 million for the three and nine months ended September 30, 2021, respectively. (b)Includes allocated depreciation expense of $0.2 million and $0.4 million for the three and nine months ended September 30, 2022, respectively, and $0.1 million and $0.4 million for the three and nine months ended September 30, 2021, respectively.
Reconciliation of Revenues by Segment | The reconciliation of revenues for our reportable segments to consolidated revenues is as follows.
Reconciliation of revenues by segment
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Revenues |  |  |  |  |  |  |  |
Mortgage |  | $ | 281,033 |  |  | $ | 274,659 |  |  | $ | 855,262 |  |  | $ | 862,757 |
homegenius (1) |  | 25,083 |  |  | 45,091 |  |  | 91,338 |  |  | 104,337 |
Total revenues for reportable segments |  | 306,116 |  |  | 319,750 |  |  | 946,600 |  |  | 967,094 |
All Other revenues |  | 6,396 |  |  | 3,996 |  |  | 17,218 |  |  | 12,100 |
Net gains (losses) on investments and other financial instruments |  | (16,252) |  |  | 2,098 |  |  | (87,578) |  |  | 12,578 |
Elimination of inter-segment revenues |  | (71) |  |  | (86) |  |  | (238) |  |  | (207) |
Total revenues |  | $ | 296,189 |  |  | $ | 325,758 |  |  | $ | 876,002 |  |  | $ | 991,565 |
(1)Includes immaterial inter-segment revenues for the three and nine months ended September 30, 2022 and 2021.
Services Revenue | The table below, which represents total services revenue on our condensed consolidated statements of operations for the periods indicated, represents the disaggregation of services revenue by revenue type.
Services revenue
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) |  | 2022 |  | 2021 |  | 2022 |  | 2021
homegenius |  |  |  |  |  |  |  |
Title |  | $ | 4,714 |  |  | $ | 12,927 |  |  | $ | 16,012 |  |  | $ | 30,383 |
Real estate |  |  |  |  |  |  |  |
Valuation |  | 6,731 |  |  | 8,435 |  |  | 23,732 |  |  | 19,835 |
Single family rental |  | 5,430 |  |  | 8,539 |  |  | 20,887 |  |  | 17,610 |
Real estate owned asset management |  | 750 |  |  | 571 |  |  | 2,302 |  |  | 1,738 |
Other real estate services |  | 78 |  |  | 67 |  |  | 83 |  |  | 143 |
Technology |  |  |  |  |  |  |  |
Asset management technology platform |  | 1,134 |  |  | 1,199 |  |  | 3,740 |  |  | 4,225 |
Other technology services |  | 905 |  |  | 981 |  |  | 2,957 |  |  | 2,964 |
Mortgage |  | 404 |  |  | 5,027 |  |  | 7,062 |  |  | 13,110 |
All Other |  | — |  |  | 27 |  |  | — |  |  | 124 |
Total services revenue |  | $ | 20,146 |  |  | $ | 37,773 |  |  | $ | 76,775 |  |  | $ | 90,132 |

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