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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities:      
Net income $ 353,827 $ 377,807 $ 196,157
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 8,732 7,215 7,640
Stock-based compensation 14,973 9,929 9,046
Amortization and accretion of interest and fees, net (13,547) (2,487) 2,964
Amortization of capitalized mortgage servicing rights 59,876 58,615 49,222
Originations of loans held-for-sale (4,788,202) (6,461,023) (6,709,375)
Proceeds from sales of loans held-for-sale, net of gain on sale 5,438,623 6,415,169 6,587,728
Mortgage servicing rights (69,346) (130,230) (165,517)
Write-off of capitalized mortgage servicing rights from payoffs 44,502 32,741 16,757
Provision for loss sharing (net of recoveries) 1,862 (6,167) 14,822
Provision for credit losses (net of recoveries) 21,169 (21,113) 61,110
Net (charge-offs) recoveries for loss sharing obligations (758) (2,072) 427
Deferred tax (benefit) provision (1,741) 10,892 4,726
Income from equity affiliates (14,247) (34,567) (76,161)
Distributions from operations of equity affiliates 16,594 32,953 44,579
Loss on extinguishment of debt 4,933 3,374 3,546
Payoffs and paydowns of loans held-for-sale 58,751 2,425 179
Loss on sale of loans 11,180    
Change in fair value of held-for-sale loans 15,703    
Litigation settlement 7,350    
(Gain) loss on real estate   (3,693) 375
Changes in operating assets and liabilities (70,585) (72,921) 6,940
Net cash provided by operating activities 1,099,649 216,847 55,165
Investing Activities:      
Loans and investments funded, originated and purchased, net (5,955,061) (9,209,475) (2,376,233)
Payoffs and paydowns of loans and investments 3,423,498 2,370,570 1,243,694
Proceeds from sale of loans and investments 397,338 127,700  
Deferred fees 57,098 72,182 18,766
Contributions to equity affiliates (17,809) (48,071) (892)
Distributions from equity affiliates 26,008 34,283  
Purchase of securities held-to-maturity, net (27,598) (53,511) (37,926)
Payoffs and paydowns of securities held-to-maturity 19,030 13,317 10,158
Due to borrowers and reserves (239,626) (57,249) (32,925)
Proceeds from sale of available-for-sale securities     9,995
Investments in real estate, net     (131)
Proceeds from sale of real estate, net     8,870
Net cash used in investing activities (2,317,122) (6,750,254) (1,156,624)
Financing activities:      
Proceeds from credit and repurchase facilities 11,536,220 15,688,353 12,986,256
Paydowns and payoffs of credit and repurchase facilities (12,153,215) (13,433,376) (12,428,681)
Proceeds from issuance of securitized debt 2,762,502 4,281,512 668,000
Payoffs and paydowns of securitized debt (801,141) (889,150) (283,125)
Proceeds from issuance of common stock 408,735 514,593 183,585
Proceeds from issuance of preferred stock 77,522 555,999  
Proceeds from issuance of senior unsecured notes 437,500 625,000 345,750
Payoffs and paydowns of senior unsecured notes (312,920)    
Redemption of OP Units (546) (21,605) (32,233)
Payments of withholding taxes on net settlement of vested stock (8,188) (9,032) (6,594)
Repurchase of common stock   (34,404) (21,531)
Distributions to stockholders (321,739) (227,062) (173,109)
Payment of deferred financing costs (50,362) (56,060) (18,087)
Redemption of preferred stock   (92,789)  
Extinguishment of convertible senior unsecured notes   (14,300)  
Payoff of debt fund     (70,000)
Settlements of convertible senior unsecured notes     (22,336)
Net cash provided by financing activities 1,574,368 6,887,679 1,127,895
Net increase in cash, cash equivalents and restricted cash 356,895 354,272 26,436
Cash, cash equivalents and restricted cash at beginning of period 891,270 536,998 510,562
Cash, cash equivalents and restricted cash at end of period 1,248,165 891,270 536,998
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents at beginning of period 404,580 339,528 299,687
Restricted cash at beginning of period 486,690 197,470 210,875
Cash, cash equivalents and restricted cash at beginning of period 891,270 536,998 510,562
Cash and cash equivalents at end of period 534,357 404,580 339,528
Restricted cash at end of period 713,808 486,690 197,470
Cash, cash equivalents and restricted cash at end of period 1,248,165 891,270 536,998
Supplemental cash flow information:      
Cash used to pay interest 486,826 175,912 144,968
Cash used to pay taxes 27,560 37,797 35,282
Supplemental schedule of non-cash investing and financing activities:      
Investment in real estate, net 31,200    
Distributions accrued on preferred stock 7,010 6,767 629
Cummulative-effect adjustment (adoption of convertible debt standard) 2,447    
Loans transferred from loans and investment, net to loans held-for-sale   65,144  
Cummulative-effect adjustment (adoption of credit loss standard)     28,607
Settlements of convertible senior unsecured notes     4,778
Fair value of conversion feature of convertible senior unsecured notes     94
Issuance of common stock from convertible debt     90
Operating segments | Agency Business      
Operating activities:      
Net income 96,242 164,116 101,879
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 4,691 4,691 5,249
Amortization of capitalized mortgage servicing rights 59,876 58,615 49,222
Mortgage servicing rights (69,346) (130,230) (165,517)
Provision for loss sharing (net of recoveries) 1,862 (6,167) 14,822
Provision for credit losses (net of recoveries) 1,399 110 1,143
(Gain) loss on real estate   (1,227) $ (503)
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents at beginning of period 261,809    
Restricted cash at beginning of period 18,677    
Cash and cash equivalents at end of period 333,843 261,809  
Restricted cash at end of period $ 193 $ 18,677