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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 608,414 $ 1,465,939
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization expense 25,827 27,122
Amortization of operating lease right-of-use asset 16,932 19,215
Amortization of debt issuance costs 9,382 4,765
Gain on origination and sale of loans (2,856,544) (2,256,438)
(Gain) loss on sale of servicing rights (1,453) 3,074
Fair value change in trading securities 0 0
Provision for loss obligation on sold loans and servicing rights 12,400 10,446
Increase in provision for deferred income taxes 37,269 0
Fair value change in derivative assets 312,586 (587,935)
Fair value change in derivative liabilities (119,270) 49,455
Premium received (paid) on derivatives 4,376 (2,986)
Purchase of options contracts (10,383) 0
Fair value change in loans held for sale 67,010 (114,173)
Fair value change in servicing rights 224,812 232,598
Stock-based compensation expense 64,349 7,643
Change in fair value of contingent consideration (77) 32,650
Originations of loans (107,717,154) (63,183,309)
Proceeds from sales of loans 107,911,005 63,874,371
Proceeds from principal payments 119,822 43,307
Payments to investors for loan repurchases (818,011) (150,274)
Disbursements from joint ventures 8,765 6,633
Changes in operating assets and liabilities:    
Other changes in operating assets and liabilities 41,105 99,754
Net cash used in operating activities (2,058,838) (418,143)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property and equipment (43,830) (19,625)
Proceeds from sale of servicing rights 332,931 6,023
Cash flows received on trading securities 617 0
Investments in joint ventures (1,115) 0
Return of capital from joint ventures 189 300
Net cash flows provided by (used in) investing activities 288,792 (13,302)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from borrowings on warehouse lines of credit 121,009,551 63,014,591
Repayment of borrowings on warehouse lines of credit (119,374,838) (61,880,096)
Proceeds from debt obligations 1,179,037 169,100
Payments on debt obligations (477,541) (55,000)
Payments of debt issuance costs (15,839) (4,503)
Payments for contingent consideration (113) (13,268)
Payments on financing lease obligation (1,911) (18,025)
Treasury stock purchased to net settle and withhold taxes on vested shares (12,844) 0
Dividends and shareholder distributions (419,732) (152,332)
Net cash provided by financing activities 1,885,770 1,021,847
Net change in cash and cash equivalents and restricted cash 115,724 590,402
Cash and cash equivalents and restricted cash at beginning of the period 488,689 117,496
Cash and cash equivalents and restricted cash at end of the period 604,413 707,898
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid (received) during the period for interest 180,143 128,091
Cash paid (received) during the period for income taxes 1,923 196
Supplemental disclosure of noncash investing and financing activities    
Operating leases right-of-use assets obtained in exchange for lease liabilities 8,501 13,971
Trading securities retained in securitizations 57,031 0
Purchase of equipment under financing leases 168 2,468
Class I    
CASH FLOWS FROM FINANCING ACTIVITIES    
Payments on repurchase of units 0 (38,400)
Units    
CASH FLOWS FROM FINANCING ACTIVITIES    
Payments on repurchase of units $ 0 $ (220)