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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income (loss) $ (24,700) $ 68,400
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
MSR valuation adjustment, net increase (decrease) 162,900 (500)
Increase (Decrease) in Derivative Assets and Liabilities (49,700) (7,900)
Provision for (reversal of) representation and warranty obligations 3,300 (2,000)
Loss on sale of MSRs, net 300 200
Provision for bad debts (advances and receivables) 12,500 9,800
Depreciation 3,400 5,200
Amortization of debt issuance costs and discount 6,100 5,100
Amortization of intangibles 2,900 2,100
Equity-based compensation expense 4,100 1,300
Gain on extinguishment of debt 0 (900)
Net loss (gain) on valuation of loans held for investment and HMBS-related borrowings (13,700) 16,200
Earnings of equity method investee (3,100) (15,900)
Distribution of earnings from equity method investee 3,100 12,000
Loss (gain) on loans held for sale, net (28,100) 2,300
Origination and purchase of loans held for sale (5,412,300) (8,154,600)
Proceeds from sale and collections of loans held for sale 4,624,300 8,275,200
Changes in assets and liabilities:    
Decrease in advances, net 114,000 105,900
Decrease in receivables and other assets, net 12,500 32,100
Decrease in other liabilities (56,800) (43,600)
Other, net (9,600) 500
Net cash provided by (used in) operating activities (648,700) 310,900
Cash flows from investing activities    
Origination of loans held for investment (507,400) (1,144,900)
Principal payments received on loans held for investment 528,000 995,700
Acquisition of loans held for investment, net 0 (3,600)
Acquisition of reverse mortgage subservicing agreements 0 (6,900)
Purchase of MSRs (52,300) (103,500)
Proceeds from sale of MSRs 300 134,500
Proceeds from sale of advances 5,100 800
Additions to premises and equipment (1,800) (2,200)
Purchase of real estate (10,200) (200)
Proceeds from sale of real estate 8,100 4,400
Proceeds from sale of premises and equipment 100 100
Distribution from (investment in) equity method investee, net 7,600  
Distribution from (investment in) equity method investee, net   (11,600)
Net cash used in investing activities (22,500) (137,300)
Cash flows from financing activities    
Repayment of advance match funded liabilities, net (83,200) (35,300)
Repayment of other financing liabilities (45,700) (57,600)
Proceeds from (repayment of) mortgage loan financing facilities, net 816,000 (305,800)
Proceeds from MSR financing facilities 443,400 277,700
Repayment of MSR financing facilities (531,800) (188,900)
Repurchase and repayment of Senior notes 0 (23,600)
Payment of debt issuance costs (3,400) (1,200)
Proceeds from other financing liabilities - Sale of MSRs accounted for as secured financing 88,300 66,200
Proceeds from other financing liabilities - Excess Servicing Spread (ESS) liability 68,700 0
Proceeds from sale of Home Equity Conversion Mortgages (HECM, or reverse mortgages) accounted for as a financing (HMBS-related borrowings) 502,300 1,149,900
Repayment of HMBS-related borrowings (525,100) (993,500)
Net cash provided by (used in) financing activities 729,500 (114,400)
Net increase in cash, cash equivalents and restricted cash 58,300 59,100
Cash, cash equivalents and restricted cash at beginning of year 274,200 263,400
Cash, cash equivalents and restricted cash at end of period 332,500 322,600
Supplemental non-cash investing and financing activities:    
Loans held for investment acquired at fair value 0 224,100
HMBS-related borrowings assumed at fair value 0 (219,500)
Purchase price holdback 0 (900)
Net cash paid to acquire loans held for investment 0 3,600
Right-of-use asset (1,500) 8,600
Lease liability (1,500) 8,600
Transfers of loans held for sale to real estate owned (REO) 11,500 400
Supplemental information - Sale and deconsolidation of subsidiary    
Cash and cash equivalents 213,400 255,900
Debt service accounts 71,200 13,600
Other restricted cash 47,900 53,100
Total cash, cash equivalents and restricted cash reported in the statements of cash flows 332,500 322,600
Repurchase of common stock $ 0 $ (2,300)