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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net loss $ (1,779) $ (23,535)
Adjustments to reconcile loss to net cash (used in) provided by operating activities:    
MSR valuation adjustments, net 51,242 197,554
Loss (gain) on sale of MSRs, net 41 (161)
Provision for bad debts 11,522 11,939
Depreciation 5,066 11,093
Amortization of debt issuance costs and discount 3,232 4,181
Equity-based compensation expense 2,260 1,523
Loss on extinguishment of debt 15,458 0
Loss (gain) on valuation of Pledged MSR financing liability 9,944 (31,716)
Net gain on valuation of loans held for investment and HMBS-related borrowings (18,505) (15,351)
Gain on loans held for sale, net (48,434) (46,878)
Origination and purchase of loans held for sale (6,620,727) (1,949,022)
Proceeds from sale and collections of loans held for sale 6,287,238 1,936,204
Changes in assets and liabilities:    
Decrease in advances, net 56,461 144,020
Decrease in receivables and other assets, net 44,368 39,998
Decrease in other liabilities (9,034) (45,533)
Other, net (4,590) (9,497)
Net cash (used in) provided by operating activities (216,237) 224,819
Cash flows from investing activities    
Origination of loans held for investment (720,442) (568,074)
Principal payments received on loans held for investment 722,099 370,114
Purchase of MSRs (712,578) (48,014)
Investment in equity method investee (11,528) 0
Other, net (47) 2,589
Net cash used in investing activities (722,496) (243,385)
Cash flows from financing activities    
Repayment of advance match funded liabilities, net (51,106) (66,459)
Repayment of other financing liabilities (39,616) (68,534)
Proceeds from (repayment of) mortgage loan warehouse facilities, net 321,639 (6,881)
Proceeds from MSR financing facilities 630,003 129,452
Repayment of MSR financing facilities (53,509) (166,055)
Repayment of Senior notes (319,156) 0
Proceeds from issuance of Senior notes and warrants 647,944 0
Repayment of senior secured term loan (SSTL) borrowings (188,700) (131,066)
Payment of debt issuance costs (16,032) (7,451)
Proceeds from sale of Home Equity Conversion Mortgages (HECM, or reverse mortgages) accounted for as a financing (HMBS-related borrowings) 667,480 590,640
Repayment of HMBS-related borrowings (715,332) (365,233)
Issuance of common stock 9,878 0
Repurchase of common stock 0 (4,605)
Other, net (525) (33)
Net cash provided by (used in) financing activities 892,968 (96,225)
Net decrease in cash, cash equivalents and restricted cash (45,765) (114,791)
Cash, cash equivalents and restricted cash at beginning of year 357,265 492,340
Cash, cash equivalents and restricted cash at end of period 311,500 377,549
Supplemental non-cash investing and financing activities:    
Right-of-use asset 3,204 2,608
Lease liability 3,204 2,597
Transfers of loans held for sale to real estate owned (REO) 3,545 841
Transfer from loans held for investment to loans held for sale 1,678 1,119
MSRs 0 (263,344)
Financing liability - MSRs pledged (Rights to MSRs) 0 (263,344)
Deconsolidation of mortgage-backed securitization trusts (VIEs), Loans held for investment 0 (10,715)
Deconsolidation of mortgage-backed securitization trusts (VIEs), Other financing liabilities 0 (9,519)
Recognition of future draw commitments for HECM loans at fair value upon adoption of FASB ASU No. 2016-13 0 47,038
Cash proceeds received 4,409 0
Equity / cash balance held by subsidiary upon sale (5,250) 0
Cash and cash equivalents 243,582 313,736
Debt service accounts 15,643 18,757
Other restricted cash $ 52,275 $ 45,056