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Organization, Basis of Presentation and Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Prior Period Adjustments | The consolidated statements of operations and the consolidated statements of cash flows for the years ended December 31, 2021 and 2020 have been recast to conform to the current year presentation, with the impact summarized in the table below. These presentation changes had no impact on revenue, operating expenses or net income (loss) in our consolidated statements of operations, no impact on our consolidated balance sheets and no impact on operating, investing and financing cash flows in our consolidated statements of cash flows.
| Years Ended December 31,
| 2021 |  | 2020
Consolidated Statements of Operations |  |  |
From | Other income (expense) - Pledged MSR liability expense | $ | (11.4) |  |  | $ | (116.8) |
To | MSR valuation adjustments, net | 11.4 |  |  | 116.8 |
Income (loss) before income taxes | $ | — |  |  | $ | — |
Consolidated Statements of Cash Flows |  |  |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |  |  |
From | Loss (gain) on valuation of Pledged MSR financing liability | $ | (77.9) |  |  | $ | 17.9 |
To | MSR valuation adjustments, net | 77.9 |  |  | (17.9) |
Net cash provided by (used in) operating activities | $ | — |  |  | $ | — |
The impact of the presentation changes on the quarterly periods for the years ended December 31, 2022 and 2021 is summarized in the following tables:
| Quarters Ended (Unaudited)
| March 31 |  | June 30 |  | September 30 |  | December 31
Consolidated Statements of Operations |  |  |  |  |  |  |
2022 |  |  |  |  |  |  |
From | Other income (expense) - Pledged MSR liability expense | $ | 28.5 |  |  | $ | 11.7 |  |  | $ | 67.8 |  |  | $ | (28.0) |
To | MSR valuation adjustments, net | (28.5) |  |  | (11.7) |  |  | (67.8) |  |  | 28.0 |
Net | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
2021 |  |  |  |  |  |  |
From | Other income (expense) - Pledged MSR liability expense | $ | (16.1) |  |  | $ | (12.5) |  |  | $ | 39.5 |  |  | $ | (22.4) |
To | MSR valuation adjustments, net | 16.1 |  |  | 12.5 |  |  | (39.5) |  |  | 22.4 |
| $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
| Quarters Ended (Unaudited)
| March 31 |  | June 30 |  | September 30 |  | December 31
Consolidated Statements of Cash Flows |  |  |  |  |  |  |
2022 |  |  |  |  |  |  |
From | Loss (gain) on valuation of Pledged MSR financing liability | (55.5) |  |  | (39.9) |  |  | (89.6) |  |  | (3.7) |
To | MSR valuation adjustments, net | 55.5 |  |  | 39.9 |  |  | 89.6 |  |  | 3.7 |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
2021 |  |  |  |  |  |  |
From | Loss (gain) on valuation of Pledged MSR financing liability | (1.6) |  |  | (8.4) |  |  | (61.3) |  |  | (6.7) |
To | MSR valuation adjustments, net | 1.6 |  |  | 8.4 |  |  | 61.3 |  |  | 6.7 |
| $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
The impact of the presentation changes on the quarterly periods for the year ended December 31, 2022 (nil in 2021) is summarized in the following table:
| 2022 Year to Date Periods (Unaudited)
| Three Months Ended March 31 |  | Six Months Ended June 30 |  | Nine Months Ended September 30 |  |
Statement of Cash Flows |  |  |  |  |  |  |
From | Cash flows from investing activities - Investment in equity method investee, net | $ | (12.0) |  |  | $ | (12.0) |  |  | $ | (14.0) |  |  |
To | Cash flows from operating activities - Distribution of earnings from equity method investee | 12.0 |  |  | 12.0 |  |  | 14.0 |  |  |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  |
Schedule of Property and Equipment Useful Lives | We report premises and equipment at cost and, except for land, depreciate them over their estimated useful lives on a straight-line basis as follows:
Computer hardware and software | 2 – 3 years
Buildings | 40 years
Leasehold improvements | Term of the lease not to exceed useful life
Right of Use (ROU) assets | Term of the lease not to exceed useful life
Furniture and fixtures | 5 years
Office equipment | 5 years

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