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UNAUDITED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Restricted cash $ 71.8 $ 66.2
Advances, net 564.6 718.9
Loans held for sale, at fair value 944.7 617.8
Loans held for sale 948.3 622.7
Loans held for investment, at fair value 7,783.5 7,510.8
Other assets, at fair value 14.0 8.0
Other assets 369.3 364.2
Other financing liabilities, due to related parties 420.4 329.8
Other financing liabilities, at fair value 1,380.3 1,137.4
Advance match funded liabilities 403.0 513.7
Senior notes, due to related parties 237.2 230.2
Other liabilities, fair value $ 24.4 $ 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 ($29.4 and $0.0 related to VIEs) 164.7 180.8
Mortgage servicing rights (MSRs), at fair value 2,859.8 2,665.2
Cash and cash equivalents 194.0 208.0
Other liabilities ($24.4 and $15.8 carried at fair value) 639.2 708.5
Liabilities 12,566.6 11,942.5
Investment in equity method investee 39.5 42.2
Total Assets 13,011.7 12,399.2
Home Equity Conversion Mortgage-Backed Securities (HMBS) related borrowings, at fair value 7,613.6 7,326.8
Mortgage loan financing facilities, net ($166.4 and $0.0 related to VIEs) 1,034.7 702.7
MSR financing facilities, net 901.7 953.8
Senior notes, net ($237.2 and $230.2 due to related party) 594.1 599.6
Additional paid-in capital 551.6 547.0
Accumulated deficit (104.2) (87.9)
Accumulated other comprehensive loss, net of income taxes (2.4) (2.5)
Premises and equipment, net 16.1 20.2
Common stock, $.01 par value; 13,333,333 shares authorized; 7,677,008 and 7,526,117 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively 0.1 0.1
Cumulative effect of new accounting pronouncement 445.1 456.7
Liabilities and Equity 13,011.7 12,399.2
Variable Interest Entity, Primary Beneficiary    
Restricted cash 21.6 17.6
Advances, net 471.4 608.4
Loans held for sale 277.4 0.0
Loans held for investment, at fair value 5.9 6.7
Other assets 20.3 3.2
Other financing liabilities, at fair value 5.9 6.7
Advance match funded liabilities 402.2 512.5
Receivables, net ($29.4 and $0.0 related to VIEs) 29.4 0.0
Mortgage loan financing facilities, net ($166.4 and $0.0 related to VIEs) $ 166.4 $ 0.0