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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income (loss) $ (16.2) $ 105.4
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
MSR valuation adjustment, net increase (decrease) 204.5 (4.1)
Provision for (reversal of) representation and warranty obligations 4.0 2.7
Loss on sale of MSRs, net 0.3 0.3
Provision for bad debts (advances and receivables) 20.0 15.2
Depreciation 4.9 7.6
Amortization of debt issuance costs and discount 12.0 7.5
Amortization of intangibles 4.2 3.3
Equity-based compensation expense 6.8 2.8
Gain on extinguishment of debt (1.2) (0.9)
Net loss (gain) on valuation of loans held for investment and HMBS-related borrowings (10.6) 15.8
Earnings of equity method investee (5.9) (19.3)
Distribution of earnings from equity method investee 5.9 19.3
Gain on loans held for sale, net (36.3) (16.7)
Origination and purchase of loans held for sale (9,830.5) (13,489.3)
Proceeds from sale and collections of loans held for sale 9,341.8 13,527.6
Changes in assets and liabilities:    
Decrease in advances, net 147.7 101.8
Decrease in receivables and other assets, net 32.9 19.0
Increase (Decrease) in Derivative Assets and Liabilities (80.8) 2.9
Decrease in other liabilities (64.7) (25.3)
Other, net (10.2) (5.0)
Net cash provided by (used in) operating activities (271.4) 270.6
Cash flows from investing activities    
Origination of loans held for investment (771.8) (1,494.0)
Principal payments received on loans held for investment 808.1 1,322.5
Acquisition of loans held for investment, net 0.0 (4.1)
Acquisition of reverse mortgage subservicing agreements 0.0 (6.9)
Purchase of MSRs (89.6) (174.9)
Proceeds from sale of MSRs 0.2 149.1
Proceeds from sale of advances 6.1 2.5
Additions to premises and equipment (2.2) (4.8)
Purchase of real estate (10.3) (0.9)
Proceeds from sale of real estate 13.1 6.2
Proceeds from sale of premises and equipment 0.1 0.1
Distribution from (investment in) equity method investee, net 2.7  
Distribution from (investment in) equity method investee, net   (15.5)
Net cash used in investing activities (43.6) (220.6)
Cash flows from financing activities    
Repayment of advance match funded liabilities, net (110.6) (54.8)
Repayment of other financing liabilities (71.1) (82.4)
Proceeds from (repayment of) mortgage loan financing facilities, net 332.9 (265.5)
Proceeds from MSR financing facilities 767.0 379.7
Repayment of MSR financing facilities (817.9) (257.8)
Repurchase and repayment of Senior notes (12.5) (23.6)
Payment of debt issuance costs (4.1) (1.3)
Proceeds from other financing liabilities - Sale of MSRs accounted for as secured financing 173.1 78.7
Proceeds from other financing liabilities - Excess Servicing Spread (ESS) liability 68.7 36.2
Proceeds from sale of Home Equity Conversion Mortgages (HECM, or reverse mortgages) accounted for as a financing (HMBS-related borrowings) 783.7 1,507.6
Repayment of HMBS-related borrowings (802.4) (1,319.8)
Net cash provided by (used in) financing activities 306.7 (41.6)
Net increase (decrease) in cash, cash equivalents and restricted cash (8.3) 8.4
Cash, cash equivalents and restricted cash at beginning of year 274.2 263.4
Cash, cash equivalents and restricted cash at end of period 265.9 271.8
Supplemental non-cash investing and financing activities:    
Loans held for investment acquired at fair value 0.0 224.1
HMBS-related borrowings assumed at fair value 0.0 (219.5)
Repurchase of common stock 0.0 (38.8)
MSRs (32.5) (39.0)
Financing liability - MSRs pledged (32.5) (35.9)
Purchase price holdback 0.0 (0.5)
Net cash paid to acquire loans held for investment 0.0 4.1
Right-of-use asset (1.3) 8.0
Lease liability (1.3) 8.0
Transfers of loans held for sale to real estate owned (REO) 15.1 1.0
Supplemental information - Sale and deconsolidation of subsidiary    
Cash and cash equivalents 194.0 226.6
Debt service accounts 29.7 16.1
Other restricted cash 42.2 29.2
Total cash, cash equivalents and restricted cash reported in the statements of cash flows $ 265.9 $ 271.8