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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net income (loss) $ 18,078 $ (40,178) $ (142,125)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
MSR valuation adjustments, net 109,900 251,921 120,876
Loss (gain) on sale of MSRs, net 121 (184) (453)
Provision for bad debts 22,738 25,637 34,867
Depreciation 10,265 19,121 31,911
Amortization of debt discount and issuance costs 7,792 6,992 4,512
Loss (gain) on extinguishment of debt 15,458 0 (5,099)
Provision for (reversal of) valuation allowance on deferred tax assets 2,344 28,215 32,470
Decrease (increase) in deferred tax assets other than provision for valuation allowance (2,129) (29,589) (29,350)
Equity-based compensation expense 4,719 2,401 2,697
Loss (gain) on valuation of Pledged MSR financing liability 77,945 (17,853) 152,986
Net gain on valuation of loans held for investment and HMBS-related borrowings (18,304) (10,078) (55,869)
Earnings of equity method investee (3,620) 0 0
Gain on loans held for sale, net (145,755) (137,236) (38,300)
Origination and purchase of loans held for sale (19,972,375) (7,552,026) (1,488,974)
Proceeds from sale and collections of loans held for sale 19,349,349 7,430,544 1,380,138
Changes in assets and liabilities:      
Decrease in advances, net 28,868 213,293 105,052
(Increase) decrease in receivables and other assets, net 14,168 114,089 126,881
Increase (decrease) in other liabilities 6,796 (34,181) (72,182)
Other, net 1,487 (9,914) (8,098)
Net cash provided by (used in) operating activities (472,155) 260,974 151,940
Cash flows from investing activities      
Origination of loans held for investment (1,763,418) (1,203,645) (1,026,154)
Principal payments received on loans held for investment 1,628,320 944,699 558,720
Purchase of MSRs (831,204) (273,197) (145,668)
Proceeds from sale of MSRs 0 248 4,984
Acquisition of reverse mortgage subservicing agreements (8,956) 0 0
Investment in equity method investee (27,927) 0 0
Distribution of capital from equity method investee 8,250 0 0
Acquisition of advances in connection with the purchase of MSRs (6,276) (14) (1,457)
Proceeds from sale of advances and match funded advances 1,272 809 14,186
Purchase of real estate (6,525) (1,377) (2,772)
Proceeds from sale of real estate 8,118 7,525 7,548
Additions to premises and equipment (3,270) (4,110) (1,954)
Other, net 166 1,187 5,129
Net cash provided by (used in) investing activities (1,001,450) (527,875) (587,438)
Cash flows from financing activities      
Repayment of match funded liabilities, net (68,991) (97,821) (99,175)
Repayment of other financing liabilities (91,248) (101,771) (218,783)
Proceeds from (repayments of) mortgage loan warehouse facilities, net 633,363 119,489 176,511
Proceeds from MSR financing facilities 715,747 369,024 343,641
Repayment of MSR financing facilities (249,973) (300,553) (39,420)
Repayment of Senior notes (319,156) 0 (131,791)
Proceeds from issuance of Senior notes and warrants 647,944 0 0
Proceeds from issuance of additional senior secured term loan (SSTL)     119,100
Repayment of senior secured term loan (SSTL) borrowings (188,700) (141,067) (25,433)
Payment of debt issuance costs (16,210) (7,701) (2,813)
Proceeds from sales of MSRs to related party, accounted for as a financing 247,038 0 0
Proceeds from sale of Home Equity Conversion Mortgages (HECM, or reverse mortgages) accounted for as a financing (HMBS-related borrowings) 1,674,914 1,232,641 962,113
Repayment of HMBS-related borrowings (1,614,295) (935,778) (549,600)
Issuance of common stock 9,878 0 0
Repurchase of common stock 0 (4,605) 0
Other, net (525) (32) (3,522)
Net cash provided by (used in) financing activities 1,379,786 131,826 530,828
Net increase (decrease) in cash, cash equivalents and restricted cash (93,819) (135,075) 95,330
Cash, cash equivalents and restricted cash at beginning of year 357,265 492,340 397,010
Cash, cash equivalents and restricted cash at end of year 263,446 357,265 492,340
Supplemental cash flow information      
Interest paid 125,115 97,023 111,144
Income tax payments (refunds), net (22,335) (43,469) 4,075
Supplemental non-cash investing and financing activities      
Right-of-use asset 4,485 3,724 66,231
Lease liability 4,219 2,902 66,247
Transfers from loans held for investment to loans held for sale 4,271 3,084 1,892
Transfers of loans held for sale to real estate owned (REO) 8,438 3,657 6,636
Derecognition of MSRs 0 (263,664) 0
Derecognition of financing liabilities: 0 (263,664) 0
Initial consolidation (subsequent deconsolidation) of mortgage-backed securitization trusts (VIEs) - Loans held for investments 0 (10,715) 0
Initial consolidation (subsequent deconsolidation) of mortgage-backed securitization trusts (VIEs) - Other financing liabilities 0 (9,519) 0
Recognition of future draw commitments for HECM loans at fair value upon adoption of FASB ASU No. 2016-13 0 47,038 0
Cash proceeds received 4,409 0 0
Equity / cash balance held by subsidiary upon sale (5,250) 0 0
Restricted cash and equivalents:      
Cash and cash equivalents 192,792 284,802 428,339
Debt service accounts 9,968 20,141 23,276
Other restricted cash $ 60,686 $ 52,322 $ 40,725