XML 16 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 203.1 $ 201.6
Restricted cash ($22.5 and $24.2 related to variable interest entities (VIEs)) 46.3 53.5
Mortgage servicing rights (MSRs), at fair value 2,327.7 2,272.2
Advances, net ($467.9 and $573.0 related to VIEs) 550.6 678.8
Loans held for sale ($1,103.9 and $674.2 carried at fair value) ($428.8 and $269.6 related to VIEs) 1,107.0 677.3
Loans held for investment, at fair value ($5.4 and $5.6 related to VIEs) 8,227.8 7,975.5
Receivables, net ($33.1 and $19.9 related to VIEs) 153.4 154.8
Investment in equity method investee 31.3 37.8
Premises and equipment, net 12.3 13.1
Other assets 84.3 106.2
Contingent loan repurchase asset 341.0 343.0
Total assets 13,084.7 12,513.7
Liabilities    
Home Equity Conversion Mortgage-Backed Securities (HMBS) related borrowings, at fair value 8,035.4 7,797.3
Other financing liabilities, at fair value ($333.1 and $409.2 due to related party) ($5.4 and $5.6 related to VIEs) 845.9 900.0
Advance match funded liabilities ($404.3 and $498.9 related to VIEs) 405.0 499.7
Mortgage loan financing facilities, net ($280.1 and $143.4 related to VIEs) 1,190.5 710.6
MSR financing facilities, net 927.7 916.2
Senior notes, net ($245.3 and $239.7 due to related parties) 555.2 595.8
Other liabilities ($10.1 and $7.2 carried at fair value) 337.9 349.3
Contingent loan repurchase liability 341.0 343.0
Total liabilities 12,638.4 12,111.9
Commitments and Contingencies (Notes 20 and 21)
Stockholders’ Equity    
Common stock, $.01 par value; 13,333,333 shares authorized; 7,845,055 and 7,684,401 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 0.1 0.1
Additional paid-in capital 556.9 554.5
Accumulated deficit (111.0) (151.6)
Accumulated other comprehensive loss, net of income taxes 0.2 (1.2)
Total stockholders’ equity 446.2 401.8
Total liabilities and stockholders’ equity $ 13,084.7 $ 12,513.7