XML 13 R3.htm IDEA: XBRL DOCUMENT v3.23.2
UNAUDITED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Restricted cash $ 119.1 $ 66.2
Advances, net 602.7 718.9
Loans held for sale, at fair value 1,352.9 617.8
Loans held for sale 1,356.5 622.7
Loans held for investment, at fair value 7,680.7 7,510.8
Other assets, at fair value 9.3 8.0
Other assets 327.6 364.2
Other financing liabilities, due to related parties 319.7 329.8
Other financing liabilities, at fair value 1,274.0 1,137.4
Advance match funded liabilities 430.4 513.7
Senior notes, due to related parties 234.9 230.2
Other liabilities, fair value $ 13.4 $ 15.8
Common stock, par value per share (in usd per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 13,333,333 13,333,333
Common stock, shares, issued (in shares) 7,677,008 7,526,117
Common stock, shares, outstanding (in shares) 7,677,008 7,526,117
Commitments and Contingencies (Notes 19 and 20)
Receivables, net ($44.2 and $0.0 related to VIEs) 188.6 180.8
Mortgage servicing rights (MSRs), at fair value 2,675.7 2,665.2
Cash and cash equivalents 213.4 208.0
Other liabilities ($13.4 and $15.8 carried at fair value) 606.6 708.5
Liabilities 12,782.2 11,942.5
Investment in equity method investee 34.6 42.2
Total Assets 13,216.0 12,399.2
Home Equity Conversion Mortgage-Backed Securities (HMBS) related borrowings, at fair value 7,486.4 7,326.8
Mortgage loan financing facilities, net ($238.3 and $— related to VIEs) 1,515.0 702.7
MSR financing facilities, net 864.8 953.8
Senior notes, net ($234.9 and $230.2 due to related party) 605.0 599.6
Additional paid-in capital 548.7 547.0
Accumulated deficit (112.6) (87.9)
Accumulated other comprehensive loss, net of income taxes (2.4) (2.5)
Premises and equipment, net 16.9 20.2
Common stock, $.01 par value; 13,333,333 shares authorized; 7,677,008 and 7,526,117 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 0.1 0.1
Cumulative effect of new accounting pronouncement 433.8 456.7
Liabilities and Equity 13,216.0 12,399.2
Variable Interest Entity, Primary Beneficiary    
Restricted cash 67.2 17.6
Advances, net 503.3 608.4
Loans held for sale 241.4 0.0
Loans held for investment, at fair value 6.0 6.7
Other assets 13.7 3.2
Other financing liabilities, at fair value 6.0 6.7
Advance match funded liabilities 429.5 512.5
Receivables, net ($44.2 and $0.0 related to VIEs) 44.2 0.0
Mortgage loan financing facilities, net ($238.3 and $— related to VIEs) $ 238.3 $ 0.0