XML 16 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net income before noncontrolling interests $ 36,707 $ 43,060
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 (32,693) (45,535)
Change in the fair value of premiums and origination fees 945 3,878
Amortization and depreciation 33,635 32,338
Provision (benefit) for credit losses (477) (132)
Other operating activities, net 138,920 610,509
Net cash provided by (used in) operating activities 177,037 644,118
Cash flows from investing activities    
Capital expenditures (516) (844)
Purchase of pledged available-for-sale securities (18,634)  
Funding of preferred equity investments (1,100) (4,052)
Distributions from Interim Program JV 1,055  
Acquisitions, net of cash received   (15,000)
Originations of loans held for investment (7,319) (139,442)
Principal collected on loans held for investment upon payoff 14,126 48,400
Net cash provided by (used in) investing activities (12,388) (110,938)
Cash flows from financing activities    
Borrowings (repayments) of warehouse notes payable, net (124,705) (650,492)
Borrowings of interim warehouse notes payable   102,377
Repayments of interim warehouse notes payable (10,594) (36,300)
Repayments of note payable (276) (276)
Proceeds from issuance of common stock 4,851 2,884
Repurchase of common stock (21,400) (17,541)
Cash dividends paid (7,838)  
Payment of contingent consideration (5,150) 0
Debt issuance costs (1,086) (325)
Net cash provided by (used in) financing activities (166,198) (599,673)
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents (NOTE 2) (1,549) (66,493)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 286,680 211,359
Total of cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 285,131 144,866
Supplemental Disclosure of Cash Flow Information:    
Cash paid to third parties for interest 10,500 11,739
Cash paid for income taxes $ 805 $ 12,632