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Business Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

			Three Months Ended March 31, 2024
Results of Operations			Servicing						Originations						Corporate Items and Other												Business Segments Consolidated
Servicing and subservicing fees			$	204.2					$	0.3					$	—											$	204.5
Gain on reverse loans held for investment and HMBS-related borrowings, net			8.6						6.8						—												15.4
Gain on loans held for sale, net			1.8						9.1						—												10.9
Other revenue, net			4.5						3.8						—												8.3
Revenue			219.1						20.0						—												239.1
MSR valuation adjustments, net			(12.5)						0.9						—												(11.6)
Operating expenses
Compensation and benefits			25.3						10.2						18.1												53.6
Servicing and origination			13.3						1.4						0.3												15.0
Technology and communications			6.1						1.7						4.9												12.7
Professional services			7.1						0.3						4.6												12.0
Occupancy, equipment and mailing			6.8						0.5						0.4												7.7
Corporate overhead allocations			10.9						3.9						(14.8)												—
Other expenses			1.1						1.0						1.3												3.4
Operating expenses			70.6						19.0						14.8												104.4
Other income (expense):
Interest income			6.7						9.7						1.1												17.5
Interest expense			(45.8)						(10.4)						(11.2)												(67.4)
Pledged MSR liability expense			(44.9)						—						—												(44.9)
Earnings of equity method investee			2.7						—						—												2.7
Gain on extinguishment of debt			—						—						1.4												1.4
Other, net			(0.5)						(0.1)						—												(0.6)
Other income (expense), net			(81.8)						(0.8)						(8.6)												(91.3)
Income (loss) before income taxes			$	54.2					$	1.1					$	(23.4)											$	31.8

			Three Months Ended March 31, 2023
Results of Operations			Servicing						Originations						Corporate Items and Other												Business Segments Consolidated
Servicing and subservicing fees			$	231.8					$	0.4					$	—											232.2
Gain on reverse loans held for investment and HMBS-related borrowings, net			14.0						7.2						—												21.2
Gain (loss) on loans held for sale, net			(1.3)						4.1						—												2.8
Other revenue, net			2.5						3.1						—												5.6
Revenue			247.0						14.8						—												261.8
MSR valuation adjustments, net			(70.9)						1.9						—												(69.0)
Operating expenses
Compensation and benefits			29.4						9.6						19.0												58.0
Servicing and origination			15.2						0.2						0.3												15.7
Technology and communications			6.3						1.7						5.4												13.4
Professional services			7.9						0.4						4.9												13.3
Occupancy, equipment and mailing			7.7						0.5						0.6												8.8
Corporate overhead allocations			11.5						4.8						(16.3)												—
Other expenses			2.3						1.5						1.2												4.9
Operating expenses			80.3						18.7						15.1												114.1
Other income (expense):
Interest income			4.1						9.0						1.0												14.1
Interest expense			(41.6)						(9.9)						(10.8)												(62.3)
Pledged MSR liability expense			(70.3)						—						—												(70.3)
Earnings of equity method investee			0.3						—						—												0.3
Gain on extinguishment of debt			—						—						—												—
Other, net			(0.4)						0.2						1.4												1.2
Other income (expense), net			(107.9)						(0.7)						(8.4)												(117.0)
Income (loss) before income taxes			$	(12.0)					$	(2.7)					$	(23.6)											$	(38.3)

Total Assets			Servicing						Originations						Corporate Items and Other												Business Segments Consolidated
March 31, 2024			$	12,003.9					$	835.2					$	250.9											$	13,090.1
December 31, 2023			11,687.6						551.9						274.3												12,513.7

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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- References

No definition available.

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