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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue        
Servicing and subservicing fees $ 206,585 $ 181,722 $ 562,764 $ 568,445
Reverse mortgage revenue, net 5,035 14,499 56,162 51,055
Gain on loans held for sale, net 59,702 45,886 108,136 92,764
Other revenue, net 11,779 6,928 29,078 17,637
Total revenue 283,101 249,035 756,140 729,901
MSR valuation adjustments, net (6,320) (33,814) (57,562) (231,368)
Operating expenses        
Compensation and benefits 68,960 69,648 209,413 195,393
Servicing and origination 27,932 22,930 82,044 60,547
Professional services 18,379 28,361 61,245 77,816
Technology and communications 14,737 15,850 41,050 47,154
Occupancy and equipment 8,962 9,572 25,699 37,677
Other expenses 6,466 3,161 15,422 12,958
Total operating expenses 145,436 149,522 434,873 431,545
Other income (expense)        
Interest income 7,869 3,801 15,993 12,762
Interest expense (40,623) (26,815) (102,591) (83,557)
Pledged MSR liability expense (91,160) (57,404) (168,820) (105,684)
Loss on extinguishment of debt 0 0 (15,458) 0
Earnings of equity method investee 932 0 1,282 0
Other, net 1,900 3,345 5,554 4,616
Total other expense, net (121,082) (77,073) (264,040) (171,863)
Income (loss) before income taxes 10,263 (11,374) (335) (104,875)
Income tax benefit (11,289) (1,954) (20,108) (71,920)
Net income (loss) $ 21,552 $ (9,420) $ 19,773 $ (32,955)
Earnings (loss) per share        
Basic (in USD per share) $ 2.35 $ (1.09) $ 2.21 $ (3.76)
Diluted (in USD per share) $ 2.29 $ (1.09) $ 2.13 $ (3.76)
Weighted average common shares outstanding        
Basic (in shares) 9,189,030 8,669,550 8,960,696 8,770,102
Diluted (in shares) 9,401,858 8,669,550 9,270,751 8,770,102