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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income (loss) $ 30.1 $ (40.2)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
MSR valuation adjustment, net increase (decrease) 31.5 90.3
Provision for bad debts (advances and receivables) 6.9 5.7
Provision for (reversal of) representation and warranty obligations 1.2 2.9
Depreciation 1.4 1.8
Amortization of debt issuance costs and discount 8.1 2.8
Amortization of intangibles 0.9 1.5
Gain on extinguishment of debt (1.4) 0.0
Equity-based compensation expense 2.0 2.1
Gain on reverse loans held for investment and HMBS-related borrowings, net (11.0) (14.2)
Gain on loans held for sale, net (10.9) (2.8)
Origination and purchase of loans held for sale (2,988.9) (2,552.4)
Proceeds from sale and collections of loans held for sale 2,604.1 2,312.3
Changes in assets and liabilities:    
Decrease in advances 73.5 62.8
Decrease (increase) in receivables and other assets 19.6 (28.3)
Increase (Decrease) in Derivative Assets and Liabilities (34.8) (29.0)
Decrease in other liabilities (21.0) (20.5)
Other, net (8.2) (2.2)
Net cash used in operating activities (297.1) (207.4)
Cash flows from investing activities    
Origination of loans held for investment (250.3) (235.3)
Principal payments received on loans held for investment 277.0 236.1
Purchase of MSRs (26.4) (30.4)
Proceeds from sale of MSRs 0.1 0.3
Proceeds from sale of advances 0.9 4.6
Purchase of real estate (11.9) (0.5)
Proceeds from sale of real estate 7.0 0.8
Additions to premises and equipment (0.1) (1.1)
Proceeds from sale of premises and equipment 0.0 0.1
Distribution from (investment in) equity method investee, net 0.1 5.5
Net cash used in investing activities (3.6) (19.9)
Cash flows from financing activities    
Repayment of advance match funded liabilities, net (59.5) (43.8)
Repayment of other financing liabilities (20.0) (21.8)
Proceeds from mortgage loan financing facilities, net 396.8 245.6
Proceeds from MSR financing facilities 377.8 144.4
Repayment of MSR financing facilities (329.1) (183.3)
Repurchase of Senior notes (45.5) 0.0
Payment of debt issuance costs (3.0) 0.0
Proceeds from other financing liabilities - Sale of MSRs accounted for as secured financing 4.0 3.3
Proceeds from other financing liabilities - Excess Servicing Spread (ESS) liability 0.0 68.7
Proceeds from sale of Home Equity Conversion Mortgages (HECM, or reverse mortgages) accounted for as a financing (HMBS-related borrowings) 247.4 231.2
Repayment of HMBS-related borrowings (272.1) (235.3)
Net cash provided by financing activities 296.8 209.0
Net increase (decrease) in cash, cash equivalents and restricted cash (3.9) (18.3)
Cash, cash equivalents and restricted cash at beginning of year 255.1 274.2
Cash, cash equivalents and restricted cash at end of period 251.2 255.9
Supplemental non-cash investing and financing activities:    
Right-of-use asset 0.1 0.6
Lease liability 0.1 0.6
Loans held for investment, at fair value 1.0 1.6
Transfers of loans held for sale to real estate owned (REO) 3.0 4.4
Supplemental information - Sale and deconsolidation of subsidiary    
Cash and cash equivalents 185.1 216.6
Debt service accounts 37.2 21.5
Other restricted cash 28.9 17.8
Total cash, cash equivalents and restricted cash reported in the statements of cash flows $ 251.2 $ 255.9