XML 16 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities    
Net income before noncontrolling interests $ 77,740 $ 77,572
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 (79,737) (90,204)
Change in the fair value of premiums and origination fees (3,527) 1,921
Amortization and depreciation 69,124 65,198
Provision (benefit) for credit losses 323 (225)
Other operating activities, net (318,073) 365,850
Net cash provided by (used in) operating activities (254,150) 420,112
Cash flows from investing activities    
Capital expenditures (1,151) (2,049)
Purchase of pledged available-for-sale securities (38,566)  
Funding of preferred equity investments (1,100) (11,385)
Distributions from Interim Program JV 1,209  
Acquisitions, net of cash acquired (33,102) (15,000)
Purchase of mortgage servicing rights (1,814)  
Originations of loans held for investment (151,754) (167,079)
Principal collected on loans held for investment upon payoff 87,688 100,980
Net cash provided by (used in) investing activities (138,590) (94,533)
Cash flows from financing activities    
Borrowings (repayments) of warehouse notes payable, net 323,153 (414,266)
Borrowings of interim warehouse notes payable 50,455 128,660
Repayments of interim warehouse notes payable (61,049) (75,615)
Repayments of note payable (552) (552)
Proceeds from issuance of common stock 8,067 2,885
Repurchase of common stock (21,457) (17,590)
Cash dividends paid (15,699)  
Payment of contingent consideration (5,150) 0
Debt issuance costs (1,881) (1,053)
Net cash provided by (used in) financing activities 275,887 (377,531)
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents (NOTE 2) (116,853) (51,952)
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 169,827 159,407
Supplemental Disclosure of Cash Flow Information:    
Cash paid to third parties for interest 21,338 22,513
Cash paid for income taxes $ 31,299 $ 27,748