XML 126 R109.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Debt Obligations, Net - Schedule of Debt Obligations (Details)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2024
USD ($)
facility
Dec. 31, 2023
USD ($)
facility
Debt Instrument [Line Items]    
Principal Amount $ 3,434,945 $ 3,249,158
Carrying Value of Collateral 3,700,905 3,405,564
Carrying Value    
Debt Instrument [Line Items]    
Carrying Value $ 3,414,626 $ 3,239,123
Short-Term Warehouse Facilities and Other | Residential consumer loan warehouse facilities | Facilities    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 6 4
Principal Amount $ 886,801 $ 796,537
Facility Capacity $ 1,650,000 $ 1,150,000
Weighted Average Interest Rate (as percent) 7.21% 7.27%
Carrying Value of Collateral $ 957,143 $ 907,742
Short-Term Warehouse Facilities and Other | Residential consumer loan warehouse facilities | Facilities | Carrying Value    
Debt Instrument [Line Items]    
Carrying Value $ 886,802 $ 796,537
Short-Term Warehouse Facilities and Other | Residential investor loan warehouse facilities | Facilities    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 1 2
Principal Amount $ 5,931 $ 71,851
Facility Capacity $ 350,000 $ 455,000
Weighted Average Interest Rate (as percent) 7.39% 8.14%
Carrying Value of Collateral $ 7,377 $ 95,225
Short-Term Warehouse Facilities and Other | Residential investor loan warehouse facilities | Facilities | Carrying Value    
Debt Instrument [Line Items]    
Carrying Value $ 5,931 $ 71,719
Short-Term Warehouse Facilities and Other | Real estate securities repurchase facilities | Facilities    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 5 3
Principal Amount $ 87,924 $ 82,622
Facility Capacity $ 0 $ 0
Weighted Average Interest Rate (as percent) 6.67% 7.01%
Carrying Value of Collateral $ 123,289 $ 122,110
Short-Term Warehouse Facilities and Other | Real estate securities repurchase facilities | Facilities | Carrying Value    
Debt Instrument [Line Items]    
Carrying Value $ 87,924 $ 82,622
Short-Term Warehouse Facilities and Other | Residential MSR warehouse facility | Facilities    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 1 1
Principal Amount $ 45,645 $ 47,858
Facility Capacity $ 50,000 $ 50,000
Weighted Average Interest Rate (as percent) 8.59% 8.60%
Carrying Value of Collateral $ 86,152 $ 76,560
Short-Term Warehouse Facilities and Other | Residential MSR warehouse facility | Facilities | Carrying Value    
Debt Instrument [Line Items]    
Carrying Value $ 45,645 $ 47,858
Short-Term Warehouse Facilities and Other | HEI warehouse facility | Facilities    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 1 1
Principal Amount $ 103,446 $ 122,659
Facility Capacity $ 150,000 $ 150,000
Weighted Average Interest Rate (as percent) 9.85% 9.89%
Carrying Value of Collateral $ 212,422 $ 237,973
Short-Term Warehouse Facilities and Other | HEI warehouse facility | Facilities | Carrying Value    
Debt Instrument [Line Items]    
Carrying Value $ 103,446 $ 122,659
Short-Term Warehouse Facilities and Other | Servicer advance financing | Servicer advance financing    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 1 1
Principal Amount $ 146,110 $ 154,369
Facility Capacity $ 240,000 $ 240,000
Weighted Average Interest Rate (as percent) 7.69% 7.71%
Carrying Value of Collateral $ 227,363 $ 225,345
Short-Term Warehouse Facilities and Other | Servicer advance financing | Servicer advance financing | Carrying Value    
Debt Instrument [Line Items]    
Carrying Value $ 145,785 $ 153,654
Recourse Subordinate Securities Financings: | Sequoia securities    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 1 1
Principal Amount $ 121,123 $ 124,552
Weighted Average Interest Rate (as percent) 7.21% 7.21%
Carrying Value of Collateral $ 183,922 $ 175,096
Recourse Subordinate Securities Financings: | Sequoia securities | Carrying Value    
Debt Instrument [Line Items]    
Carrying Value $ 121,123 $ 124,552
Recourse Subordinate Securities Financings: | CAFL securities 1    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 1 1
Principal Amount $ 97,366 $ 101,228
Weighted Average Interest Rate (as percent) 7.21% 5.71%
Carrying Value of Collateral $ 128,526 $ 124,793
Recourse Subordinate Securities Financings: | CAFL securities 1 | Carrying Value    
Debt Instrument [Line Items]    
Carrying Value $ 97,366 $ 101,228
Recourse Subordinate Securities Financings: | CAFL securities 2    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 1 1
Principal Amount $ 52,954 $ 57,982
Weighted Average Interest Rate (as percent) 4.75% 4.75%
Carrying Value of Collateral $ 116,425 $ 112,813
Recourse Subordinate Securities Financings: | CAFL securities 2 | Carrying Value    
Debt Instrument [Line Items]    
Carrying Value $ 52,954 $ 57,982
Long-Term Residential Investor Facilities | Long-Term Residential Investor Facilities    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 6 6
Principal Amount $ 991,843 $ 1,023,384
Facility Capacity $ 2,175,000 $ 2,350,000
Weighted Average Interest Rate (as percent) 8.53% 8.14%
Carrying Value of Collateral $ 1,360,667 $ 1,327,907
Long-Term Residential Investor Facilities | Long-Term Residential Investor Facilities | Carrying Value    
Debt Instrument [Line Items]    
Carrying Value $ 989,939 $ 1,021,708
Corporate Debt: | Promissory notes | Facilities    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 3 3
Principal Amount $ 14,887 $ 16,063
Facility Capacity $ 0  
Weighted Average Interest Rate (as percent) 7.05% 6.97%
Carrying Value of Collateral $ 0 $ 0
Corporate Debt: | Promissory notes | Carrying Value | Facilities    
Debt Instrument [Line Items]    
Carrying Value $ 14,887 $ 16,063
Corporate Debt: | $250 Million Facility | Facilities    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 1  
Principal Amount $ 125,000  
Facility Capacity $ 250,000  
Weighted Average Interest Rate (as percent) 10.35%  
Carrying Value of Collateral $ 297,619  
Corporate Debt: | $250 Million Facility | Carrying Value | Facilities    
Debt Instrument [Line Items]    
Carrying Value $ 118,327  
Corporate Debt: | 5.625% convertible senior notes | Convertible Debt    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 1 1
Principal Amount $ 107,339 $ 142,977
Weighted Average Interest Rate (as percent) 5.625% 5.625%
Corporate Debt: | 5.625% convertible senior notes | Carrying Value | Convertible Debt    
Debt Instrument [Line Items]    
Carrying Value $ 107,339 $ 142,558
Corporate Debt: | 5.75% exchangeable senior notes | Exchangeable Senior Notes    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 1 1
Principal Amount $ 156,666 $ 156,666
Weighted Average Interest Rate (as percent) 5.75% 5.75%
Corporate Debt: | 5.75% exchangeable senior notes | Carrying Value | Exchangeable Senior Notes    
Debt Instrument [Line Items]    
Carrying Value $ 155,557 $ 155,138
Corporate Debt: | 7.75% convertible senior notes | Convertible Debt    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 1 1
Principal Amount $ 207,410 $ 210,910
Weighted Average Interest Rate (as percent) 7.75% 7.75%
Corporate Debt: | 7.75% convertible senior notes | Carrying Value | Convertible Debt    
Debt Instrument [Line Items]    
Carrying Value $ 203,214 $ 206,032
Corporate Debt: | Trust preferred securities and subordinated notes    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 2 2
Principal Amount $ 139,500 $ 139,500
Weighted Average Interest Rate (as percent) 7.84% 7.90%
Corporate Debt: | Trust preferred securities and subordinated notes | Carrying Value    
Debt Instrument [Line Items]    
Carrying Value $ 138,836 $ 138,813
Corporate Debt: | 9.125% Senior Notes | Unsecured Debt    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 1  
Principal Amount $ 60,000  
Weighted Average Interest Rate (as percent) 9.125%  
Corporate Debt: | 9.125% Senior Notes | Carrying Value | Unsecured Debt    
Debt Instrument [Line Items]    
Carrying Value $ 57,677  
Corporate Debt: | 9.0% Senior Notes | Unsecured Debt    
Debt Instrument [Line Items]    
Number of Facilities or Issuances | facility 1  
Principal Amount $ 85,000  
Weighted Average Interest Rate (as percent) 9.00%  
Corporate Debt: | 9.0% Senior Notes | Carrying Value | Unsecured Debt    
Debt Instrument [Line Items]    
Carrying Value $ 81,874