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UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 185.1 $ 201.6
Restricted cash ($33.8 and $24.2 related to variable interest entities (VIEs)) 66.1 53.5
Mortgage servicing rights (MSRs), at fair value 2,374.7 2,272.2
Advances, net ($506.5 and $573.0 related to VIEs) 602.7 678.8
Loans held for sale ($1,025.7 and $674.2 carried at fair value) ($391.5 and $269.6 related to VIEs) 1,028.9 677.3
Loans held for investment, at fair value ($5.5 and $5.6 related to VIEs) 8,130.5 7,975.5
Receivables, net ($44.6 and $19.9 related to VIEs) 152.1 154.8
Investment in equity method investee 37.6 37.8
Premises and equipment, net 11.8 13.1
Other assets 500.6 449.2
Total assets 13,090.1 12,513.7
Liabilities    
Home Equity Conversion Mortgage-Backed Securities (HMBS) related borrowings, at fair value 7,945.0 7,797.3
Other financing liabilities, at fair value ($402.7 and $409.2 due to related party) ($5.5 and $5.6 related to VIEs) 906.8 900.0
Advance match funded liabilities ($439.5 and $498.9 related to VIEs) 440.2 499.7
Mortgage loan financing facilities, net ($315.7 and $143.4 related to VIEs) 1,108.9 710.6
MSR financing facilities, net 964.1 916.2
Senior notes, net ($242.4 and $239.7 due to related parties) 552.0 595.8
Other liabilities ($7.2 and $7.2 carried at fair value) 741.0 692.3
Total liabilities 12,658.0 12,111.9
Commitments and Contingencies (Notes 20 and 21)
Stockholders’ Equity    
Common stock, $.01 par value; 13,333,333 shares authorized; 7,784,253 and 7,684,401 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 0.1 0.1
Additional paid-in capital 554.6 554.5
Accumulated deficit (121.5) (151.6)
Accumulated other comprehensive loss, net of income taxes (1.1) (1.2)
Total stockholders’ equity 432.1 401.8
Total liabilities and stockholders’ equity $ 13,090.1 $ 12,513.7