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Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2023
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 is as follows.
Reconciliation of adjusted pretax operating income (loss) by segment
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Adjusted pretax operating income (loss) |  |  |  |  |  |  |  |
Mortgage |  | $ | 218,601 |  |  | $ | 295,675 |  |  | $ | 630,786 |  |  | $ | 890,036 |
homegenius |  | (20,932) |  |  | (25,536) |  |  | (68,394) |  |  | (56,732) |
Total adjusted pretax operating income for reportable segments (1) |  | 197,669 |  |  | 270,139 |  |  | 562,392 |  |  | 833,304 |
All Other adjusted pretax operating income |  | 12,786 |  |  | 2,581 |  |  | 32,301 |  |  | 6,397 |
Net gains (losses) on investments and other financial instruments (2) |  | (8,838) |  |  | (16,252) |  |  | (3,664) |  |  | (87,578) |
Amortization of other acquired intangible assets |  | (1,371) |  |  | (1,023) |  |  | (4,112) |  |  | (2,721) |
Impairment of other long-lived assets and other non-operating items |  | 737 |  |  | 16 |  |  | 753 |  |  | 79 |
Consolidated pretax income |  | $ | 200,983 |  |  | $ | 255,461 |  |  | $ | 587,670 |  |  | $ | 749,481 |
(1)Includes allocated corporate operating expenses and depreciation expense as follows.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Mortgage |  |  |  |  |  |  |  |
Allocated corporate operating expenses (a) |  | $ | 31,744 |  |  | $ | 32,457 |  |  | $ | 103,654 |  |  | $ | 101,903 |
Direct depreciation expense |  | 1,995 |  |  | 2,234 |  |  | 6,164 |  |  | 6,803 |
homegenius |  |  |  |  |  |  |  |
Allocated corporate operating expenses (a) |  | $ | 4,241 |  |  | $ | 5,555 |  |  | $ | 13,853 |  |  | $ | 16,554 |
Direct depreciation expense |  | 704 |  |  | 646 |  |  | 1,912 |  |  | 1,932 |
(a)Includes immaterial allocated depreciation expense for the three and nine months ended September 30, 2023 and 2022. (2)Excludes certain net gains (losses), if any, on investments and other financial instruments that are attributable to specific operating segments and therefore included in adjusted pretax operating income (loss).
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) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Revenues |  |  |  |  |  |  |  |
Mortgage |  | $ | 288,649 |  |  | $ | 281,033 |  |  | $ | 829,336 |  |  | $ | 855,262 |
homegenius (1) |  | 14,707 |  |  | 25,083 |  |  | 42,474 |  |  | 91,338 |
Total revenues for reportable segments |  | 303,356 |  |  | 306,116 |  |  | 871,810 |  |  | 946,600 |
All Other revenues |  | 18,249 |  |  | 6,396 |  |  | 45,857 |  |  | 17,218 |
Net gains (losses) on investments and other financial instruments |  | (8,838) |  |  | (16,252) |  |  | (3,664) |  |  | (87,578) |
Other non-operating revenue |  | 868 |  |  | — |  |  | 868 |  |  | — |
Elimination of inter-segment revenues |  | (102) |  |  | (71) |  |  | (305) |  |  | (238) |
Total revenues |  | $ | 313,533 |  |  | $ | 296,189 |  |  | $ | 914,566 |  |  | $ | 876,002 |
(1)Includes immaterial inter-segment revenues for the three and nine months ended September 30, 2023 and 2022.
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) |  | 2023 |  | 2022 |  | 2023 |  | 2022
homegenius |  |  |  |  |  |  |  |
Real estate |  |  |  |  |  |  |  |
Valuation |  | $ | 4,024 |  |  | $ | 7,634 |  |  | $ | 12,141 |  |  | $ | 26,687 |
Single family rental |  | 1,529 |  |  | 5,430 |  |  | 5,583 |  |  | 20,887 |
Asset management technology platform |  | 1,199 |  |  | 1,134 |  |  | 3,574 |  |  | 3,740 |
Real estate owned asset management |  | 887 |  |  | 750 |  |  | 2,687 |  |  | 2,302 |
Other real estate services |  | 26 |  |  | 78 |  |  | 27 |  |  | 83 |
Title |  | 2,964 |  |  | 4,714 |  |  | 8,751 |  |  | 16,012 |
Real estate technology |  |  |  |  |  |  |  |
Real estate technology services |  | (3) |  |  | 2 |  |  | 24 |  |  | 2 |
Mortgage |  | 266 |  |  | 404 |  |  | 886 |  |  | 7,062 |
Total services revenue |  | $ | 10,892 |  |  | $ | 20,146 |  |  | $ | 33,673 |  |  | $ | 76,775 |

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