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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenue    
Servicing and subservicing fees $ 171,738 $ 211,483
Reverse mortgage revenue, net 21,826 22,797
Gain on loans held for sale, net 5,721 13,331
Other revenue, net 8,309 6,231
Total revenue 207,594 253,842
MSR valuation adjustments, net 21,208 (174,120)
Operating expenses    
Compensation and benefits 68,281 60,728
Servicing and origination 27,470 20,256
Professional services 17,322 25,637
Technology and communications 13,143 15,193
Occupancy and equipment 8,852 11,969
Other expenses 4,561 3,431
Total operating expenses 139,629 137,214
Other income (expense)    
Interest income 3,936 5,395
Interest expense (28,452) (29,982)
Pledged MSR liability expense (37,850) (6,594)
Loss on extinguishment of debt (15,458) 0
Other, net 290 1,328
Total other expense, net (77,534) (29,853)
Income (loss) before income taxes 11,639 (87,345)
Income tax expense (benefit) 3,096 (61,856)
Net income (loss) $ 8,543 $ (25,489)
Earnings (loss) per share    
Basic (in USD per share) $ 0.98 $ (2.84)
Diluted (in USD per share) $ 0.96 $ (2.84)
Weighted average common shares outstanding    
Basic (in shares) 8,688,009 8,990,589
Diluted (in shares) 8,877,492 8,990,589