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UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 201.6 $ 201.6
Restricted cash ($30.9 and $24.2 related to variable interest entities (VIEs)) 78.5 53.5
Mortgage servicing rights (MSRs), at fair value 2,223.6 2,272.2
Advances, net ($438.6 and $573.0 related to VIEs) 522.7 678.8
Loans held for sale ($1,195.5 and $674.2 carried at fair value) ($595.2 and $269.6 related to VIEs) 1,197.7 677.3
Loans held for investment, at fair value ($5.2 and $5.6 related to VIEs) 8,331.5 7,975.5
Receivables, net ($46.6 and $19.9 related to VIEs) 172.2 154.8
Investment in equity method investee 30.6 37.8
Premises and equipment, net 11.7 13.1
Other assets 95.8 106.2
Contingent loan repurchase asset 360.9 343.0
Total assets 13,226.7 12,513.7
Liabilities    
Home Equity Conversion Mortgage-Backed Securities (HMBS) related borrowings, at fair value 8,132.5 7,797.3
Other financing liabilities, at fair value ($327.5 and $409.2 due to related party) ($5.2 and $5.6 related to VIEs) 826.2 900.0
Advance match funded liabilities ($376.6 and $498.9 related to VIEs) 377.2 499.7
Mortgage loan financing facilities, net ($518.7 and $143.4 related to VIEs) 1,355.9 710.6
MSR financing facilities, net 804.8 916.2
Senior notes, net ($248.2 and $239.7 due to related parties) 535.1 595.8
Other liabilities ($14.1 and $7.2 carried at fair value) 366.0 349.3
Contingent loan repurchase liability 360.9 343.0
Total liabilities 12,758.5 12,111.9
Commitments and Contingencies (Notes 20 and 21)
Stockholders’ Equity    
Common stock, $.01 par value; 13,333,333 shares authorized; 7,868,458 and 7,684,401 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 0.1 0.1
Additional paid-in capital 557.4 554.5
Accumulated deficit (89.6) (151.6)
Accumulated other comprehensive income (loss), net of income taxes 0.2 (1.2)
Total stockholders’ equity 468.2 401.8
Total liabilities and stockholders’ equity $ 13,226.7 $ 12,513.7