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Business Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Financial information for our segments is as follows:
			Three Months Ended March 31, 2022
Results of Operations			Servicing						Originations						Corporate Items and Other						Corporate Eliminations (1)						Business Segments Consolidated
Servicing and subservicing fees			$	212,168					$	455					$	—					$	—					$	212,623
Reverse mortgage revenue, net			(11,853)						24,963						—						—						13,110
Gain (loss) on loans held for sale, net (1)			(2,701)						12,773						—						(13,277)						(3,206)
Other revenue, net			405						6,828						1,803						—						9,036
Revenue			198,019						45,019						1,803						(13,277)						231,563
MSR valuation adjustments, net (1)			48,290						1,065						—						13,277						62,632
Operating expenses			74,250						46,235						6,533						—						127,018
Other (expense) income:
Interest income			4,060						2,973						79						—						7,112
Interest expense			(23,101)						(4,234)						(10,540)						—						(37,875)
Pledged MSR liability expense			(86,909)						—						12						—						(86,897)
Earnings of equity method investee			12,003						—						—						—						12,003
Loss on extinguishment of debt			(33)						—						—						—						(33)
Other			715						(1,411)						534						—						(162)
Other income (expense), net			(93,265)						(2,672)						(9,915)						—						(105,852)
Income (loss) before income taxes			$	78,794					$	(2,823)					$	(14,645)					$	—					$	61,325
			Three Months Ended March 31, 2021
Results of Operations			Servicing						Originations						Corporate Items and Other						Corporate Eliminations (1)						Business Segments Consolidated
Servicing and subservicing fees			$	169,354					$	2,384					$	—					$	—					$	171,738
Reverse mortgage revenue, net			2,035						19,791						—						—						21,826
Gain on loans held for sale, net (1)			3,521						37,593						—						(35,393)						5,721
Other revenue, net			502						6,518						1,289						—						8,309
Revenue			175,412						66,286						1,289						(35,393)						207,594
MSR valuation adjustments, net (1)			(22,690)						8,505						—						35,393						21,208
Operating expenses			82,753						37,737						19,139						—						139,629
Other (expense) income:
Interest income			1,257						2,566						113						—						3,936
Interest expense			(18,816)						(3,552)						(6,084)						—						(28,452)
Pledged MSR liability expense			(37,883)						—						33						—						(37,850)
Loss on extinguishment of debt			—						—						(15,458)						—						(15,458)
Other			452						50						(212)						—						290
Other income (expense), net			(54,990)						(936)						(21,608)						—						(77,534)
Income (loss) before income taxes			$	14,979					$	36,118					$	(39,458)					$	—					$	11,639

(1)Corporate Eliminations for the three months ended March 31, 2022 and 2021 includes inter-segment derivatives eliminations of $13.3 million and $35.4 million, respectively, reported as Gain on loans held for sale, net with a corresponding offset in MSR valuation adjustments, net.

Total Assets			Servicing						Originations						Corporate Items and Other												Business Segments Consolidated
March 31, 2022			$	11,251,806					$	610,925					$	435,078											$	12,297,809
December 31, 2021			$	10,999,204					$	823,530					$	324,389											$	12,147,123
March 31, 2021			$	9,869,673					$	525,630					$	376,485											$	10,771,788

Depreciation and Amortization Expense			Servicing						Originations						Corporate Items and Other						Business Segments Consolidated
Three months ended March 31, 2022
Depreciation expense			$	171					$	107					$	2,324					$	2,602
Amortization of debt issuance costs and discount			203						—						2,336						2,539
Three months ended March 31, 2021
Depreciation expense			$	209					$	24					$	2,626					$	2,859
Amortization of debt issuance costs and discount			129						—						1,495						1,624

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

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- References

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