XML 15 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities    
Net income before noncontrolling interests $ 77,572 $ 47,444
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Gains attributable to the fair value of future servicing rights, net of guaranty obligation (90,204) (79,496)
Change in the fair value of premiums and origination fees 1,921 (11,954)
Amortization and depreciation 65,198 51,580
Provision (benefit) for credit losses (225) (117)
Other operating activities, net 365,842 339,053
Net cash provided by (used in) operating activities 420,104 346,510
Cash flows from investing activities    
Capital expenditures (2,049) (777)
Funding of preferred equity investments (11,385) (6,409)
Net cash paid to increase ownership interest in a previously held equity method investment   (1,058)
Acquisitions, net of cash received (15,000)  
Purchase of mortgage servicing rights   (43,374)
Originations of loans held for investment (167,079) (141,842)
Principal collected on loans held for investment 100,980 133,120
Net cash provided by (used in) investing activities (94,533) (60,340)
Cash flows from financing activities    
Borrowings (repayments) of warehouse notes payable, net (414,266) (333,615)
Borrowings of interim warehouse notes payable 128,660 98,863
Repayments of interim warehouse notes payable (75,615) (97,873)
Repayments of note payable (552) (552)
Proceeds from issuance of common stock 2,885 3,291
Repurchase of common stock (17,590) (11,979)
Debt issuance costs (1,053) (1,689)
Distributions to noncontrolling interests   (5)
Net cash provided by (used in) financing activities (377,531) (343,559)
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents (NOTE 2) (51,960) (57,389)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 213,467 214,484
Total of cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 161,507 157,095
Supplemental Disclosure of Cash Flow Information:    
Cash paid to third parties for interest 22,513 18,008
Cash paid for income taxes $ 27,748 $ 16,426