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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income (loss) $ 62.0 $ (16.2)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
MSR valuation adjustment, net increase (decrease) 130.1 204.5
Provision for bad debts (advances and receivables) 20.5 20.0
Provision for (reversal of) representation and warranty obligations 1.4 4.0
Depreciation 4.1 4.9
Amortization of debt issuance costs and discount 26.7 12.0
Amortization of intangibles 2.3 4.2
Gain on extinguishment of debt (1.8) (1.2)
Equity-based compensation expense 5.7 6.8
Gain on reverse loans held for investment and HMBS-related borrowings, net (31.1) (10.6)
Gain on loans held for sale, net (53.2) (36.3)
Origination and purchase of loans held for sale (12,265.7) (9,830.5)
Proceeds from sale and collections of loans held for sale 11,645.6 9,341.8
Changes in assets and liabilities:    
Decrease in advances 140.9 147.7
Decrease in receivables and other assets 23.5 32.9
Increase (Decrease) in Derivative Assets and Liabilities (48.8) (80.8)
Increase (decrease) in other liabilities 6.2 (64.7)
Other, net (24.3) (9.8)
Net cash used in operating activities (355.8) (271.4)
Cash flows from investing activities    
Origination of loans held for investment (804.9) (771.8)
Principal payments received on loans held for investment 938.1 808.1
Purchase of MSRs (114.8) (89.6)
Proceeds from sale of MSRs 193.9 0.2
Acquisition of advances in connection with MSR transactions (0.3) 0.0
Proceeds from sale of advances in connection with MSR transactions 10.2 6.1
Purchase of real estate (32.9) (10.3)
Proceeds from sale of real estate 18.0 13.1
Additions to premises and equipment (0.3) (2.2)
Proceeds from sale of premises and equipment 0.0 0.1
Distribution from (investment in) equity method investee, net 7.1 2.7
Net cash provided by (used in) investing activities 214.2 (43.6)
Cash flows from financing activities    
Repayment of advance match funded liabilities, net (122.5) (110.6)
Repayment of other financing liabilities (54.7) (71.1)
Proceeds from mortgage loan financing facilities, net 636.1 332.9
Proceeds from MSR financing facilities 806.2 767.0
Repayment of MSR financing facilities (916.2) (817.9)
Repurchase of Senior notes (68.5) (12.5)
Payment of debt issuance costs (6.2) (4.1)
Proceeds from other financing liabilities - Sale of MSRs accounted for as secured financing 22.8 173.1
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) 792.3 783.7
Repayment of HMBS-related borrowings (922.8) (802.4)
Net cash provided by financing activities 166.6 306.7
Net increase (decrease) in cash, cash equivalents and restricted cash 25.0 (8.3)
Cash, cash equivalents and restricted cash at beginning of year 255.1 274.2
Cash, cash equivalents and restricted cash at end of period 280.1 265.9
Supplemental non-cash investing and financing activities:    
Right-of-use asset 2.5 (1.3)
Lease liability 2.5 (1.3)
Loans held for investment, at fair value 2.9 4.6
Transfers of loans held for sale to real estate owned (REO) 15.5 15.1
MSR, at fair value (85.7) (32.5)
Other financing liability, at fair value - MSR pledged liability (85.7) (32.5)
Supplemental Cash Flow Elements [Abstract]    
Cash and cash equivalents 201.6 194.0
Debt service accounts 35.8 29.7
Other restricted cash 42.7 42.2
Total cash, cash equivalents and restricted cash reported in the statements of cash flows $ 280.1 $ 265.9