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v3.25.1

Fair Value - Schedule of Fair Value Assets and Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2025 | Dec. 31, 2024 | Mar. 31, 2024 | Dec. 31, 2023
--- | --- | --- | --- | ---
Loans held for sale, at fair value (a) (d) |  |  |  |
Loans held for sale, at fair value | $ 1,402.2 | $ 1,290.2 | $ 1,025.7 | $ 674.2
Financial liabilities |  |  |  |
Advance match funded liabilities | 377.5 | 417.1 |  |
Financing liabilities, at fair value: |  |  |  |
HMBS-related borrowings | 10,587.6 | 10,872.1 | 7,945.0 | 7,797.3
Other financing liabilities, at fair value | 835.5 | 846.9 |  |
Other secured borrowings: |  |  |  |
Mortgage loan financing facilities, net ($452.5 and $481.9 related to VIEs) | 1,577.4 | 1,528.2 |  |
MSR financing facilities | 1,136.0 | 957.9 |  |
Senior notes |  |  |  |
Senior notes (b) (c) | 488.0 | 487.4 |  |
Mortgage servicing rights |  |  |  |
MSRs | 2,547.4 | 2,466.3 |  | 2,272.2
Carrying Value |  |  |  |
Loans held for sale, at fair value (a) (d) |  |  |  |
Loans held for sale, at fair value | 1,402.2 | 1,290.2 |  |
Financing liabilities, at fair value: |  |  |  |
Other financing liabilities, at fair value | 835.5 | 846.9 |  |
Fair Value |  |  |  |
Loans held for sale, at fair value (a) (d) |  |  |  |
Loans held for sale, at fair value | 1,402.2 | 1,290.2 |  |
Financing liabilities, at fair value: |  |  |  |
Other financing liabilities, at fair value | 835.5 | 846.9 |  |
Financing Liability Excess Servicing Spread [Member] |  |  |  |
Financing liabilities, at fair value: |  |  |  |
Other financing liabilities, at fair value | 256.4 | 263.3 |  |
Level 3 | Carrying Value |  |  |  |
Loans held for sale, at fair value (a) (d) |  |  |  |
Loans held for investment, at fair value (a) | 10,812.5 | 11,125.3 |  |
Advances, net | 514.0 | 577.2 |  |
Receivables, net | 222.3 | 176.4 |  |
Financial liabilities |  |  |  |
Advance match funded liabilities | 377.5 | 417.1 |  |
Financing liabilities, at fair value: |  |  |  |
HMBS-related borrowings | 10,587.6 | 10,872.1 |  |
Other secured borrowings: |  |  |  |
Mortgage loan financing facilities, net ($452.5 and $481.9 related to VIEs) | 1,577.4 | 1,528.2 |  |
MSR financing facilities | 1,136.0 | 957.9 |  |
Mortgage servicing rights |  |  |  |
MSRs | 2,547.4 | 2,466.3 |  |
Level 3 | Fair Value |  |  |  |
Loans held for sale, at fair value (a) (d) |  |  |  |
Loans held for investment, at fair value (a) | 10,812.5 | 11,125.3 |  |
Advances, net | 514.0 | 577.2 |  |
Receivables, net | 222.3 | 176.4 |  |
Financial liabilities |  |  |  |
Advance match funded liabilities | 377.5 | 417.1 |  |
Financing liabilities, at fair value: |  |  |  |
HMBS-related borrowings | 10,587.6 | 10,872.1 |  |
Other secured borrowings: |  |  |  |
Mortgage loan financing facilities, net ($452.5 and $481.9 related to VIEs) | 1,584.6 | 1,535.3 |  |
MSR financing facilities | 1,126.7 | 947.6 |  |
Mortgage servicing rights |  |  |  |
MSRs | 2,547.4 | 2,466.3 |  |
Level 3 | Interest Rate Contract | Carrying Value |  |  |  |
Derivative financial instrument assets (liabilities), net |  |  |  |
Interest rate lock commitments | 9.4 | (0.5) |  |
Level 3 | Interest Rate Contract | Fair Value |  |  |  |
Derivative financial instrument assets (liabilities), net |  |  |  |
Interest rate lock commitments | 9.4 | (0.5) |  |
Level 3 | Loans Held for Sale - Fair Value |  |  |  |
Mortgage servicing rights |  |  |  |
Loans related to Ginnie Mae guaranteed securitizations | 496.6 | 472.9 | $ 284.0 | $ 203.1
Level 2 | Carrying Value |  |  |  |
Senior notes |  |  |  |
Senior notes (b) (c) | 488.0 | 487.4 |  |
Level 2 | Fair Value |  |  |  |
Senior notes |  |  |  |
Senior notes (b) (c) | 480.0 | 495.0 |  |
Level 1 | Other | Carrying Value |  |  |  |
Derivative financial instrument assets (liabilities), net |  |  |  |
Interest rate lock commitments | (0.2) | (11.7) |  |
Level 1 | Other | Fair Value |  |  |  |
Derivative financial instrument assets (liabilities), net |  |  |  |
Interest rate lock commitments | $ (0.2) | $ (11.7) |  |

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- Definition This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents advances and match funded advances. + References No definition available. + Details
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- Definition This represents the amount of liability which is a resultant of reverse mortgage loans sold into the secondary with servicing rights retained. As the transfer of these loans do not meet the definition of participating interest because of the servicing requirement that requires the issuer to absorb some level of risk, these transfers are accounted for as financing. + References No definition available. + Details
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- Definition Fair values as of the balance sheet date of the net amount of all assets and liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 5 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480463/815-10-45-5 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Fair value of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)(a)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 + Details
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- Definition Fair value portion of loans held-for-sale including, but not limited to, mortgage loans and finance receivables. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Amount of borrowings classified as other, maturing within one year or the normal operating cycle, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(a)(7)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(13)(a)(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1 + Details
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- Definition Fair value portion of receivables, including, but not limited to, trade account receivables, note receivables, and loan receivables. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-10 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2E -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(7)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 + Details
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- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)(a)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 + Details
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