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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 184.8 $ 201.6
Restricted cash ($9,759 and $16,791 related to variable interest entities (VIEs)) 80.8 53.5
Mortgage servicing rights (MSRs), at fair value 2,466.3 2,272.2
Advances, net ($481.8 and $573.0 related to VIEs) 577.2 678.8
Loans held for sale ($1,290.2 and $674.2 carried at fair value) ($575.4 and $269.6 related to VIEs) 1,290.2 677.3
Loans held for sale ($1,290.2 and $674.2 carried at fair value) ($575.4 and $269.6 related to VIEs) 11,125.3 7,975.5
Receivables, net ($31.9 and $19.9 related to VIEs) 176.4 154.8
Investment in equity method investee 0.0 37.8
Premises and equipment, net 11.0 13.1
Other assets ($15.7 and $22.0 carried at fair value) ($42.0 and $18.6 related to VIEs) 111.3 106.2
Contingent loan repurchase asset 412.2 343.0
Total assets 16,435.4 12,513.7
Liabilities    
Home Equity Conversion Mortgage-Backed Securities (HMBS) related borrowings, at fair value 10,872.1 7,797.3
Other financing liabilities, at fair value ($322.7 and $409.2 due to related party) ($0.0 and $5.6 related to VIEs) 846.9 900.0
Advance match funded liabilities ($416.5 and $498.9 related to VIEs) 417.1 499.7
Mortgage loan financing facilities ($481.9 and $143.4 related to VIEs) 1,528.2 710.6
MSR financing facilities, net 957.9 916.2
Senior Notes 487.4 595.8
Other liabilities ($3,080 and $4,638 carried at fair value) 420.6 349.3
Contingent Loan Repurchase Liability 412.2 343.0
Total liabilities 15,942.5 12,111.9
Commitments and Contingencies (Notes 26 and 27)
Temporary Equity, Par Value 49.9 0.0
Stockholders’ Equity    
Common stock, $.01 par value; 13,333,333 shares authorized; 9,208,312 and 8,687,750 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively 0.1 0.1
Additional paid-in capital 559.3 554.5
Accumulated deficit (117.6) (151.6)
Accumulated other comprehensive income (loss), net of income taxes 1.2 (1.2)
Total stockholders’ equity 442.9 401.8
Total liabilities, mezzanine equity and stockholders’ equity $ 16,435.4 $ 12,513.7