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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income before noncontrolling interests $ 86,206 $ 77,740
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 (82,209) (79,737)
Change in the fair value of premiums and origination fees 938 (3,527)
Amortization and depreciation 75,284 69,124
Provision for credit losses 3,636 323
Originations of loans held for sale (7,913,982) (5,946,251)
Sales of loans to third parties 7,696,034 5,645,888
Other operating activities, net (25,111) (17,710)
Net cash provided by (used in) operating activities (159,204) (254,150)
Cash flows from investing activities    
Capital expenditures (3,392) (1,151)
Purchase of pledged available-for-sale securities (7,562) (38,566)
Funding of preferred equity investments   (1,100)
Distributions from (investments in) Interim Program JV (18,518) 1,209
Acquisitions, net of cash acquired (7,180) (33,102)
Purchase of mortgage servicing rights   (1,814)
Originations of loans held for investment (83,402) (151,754)
Principal collected on loans held for investment upon payoff 150,761 87,688
Net cash provided by (used in) investing activities 30,707 (138,590)
Cash flows from financing activities    
Borrowings (repayments) of warehouse notes payable, net 129,412 323,153
Borrowings of interim warehouse notes payable 54,757 50,455
Repayments of interim warehouse notes payable (32,264) (61,049)
Repayments of note payable (1,500) (552)
Proceeds from issuance of common stock 4,188 8,067
Repurchase of common stock (25,915) (21,457)
Cash dividends paid (18,630) (15,699)
Payment of contingent consideration (6,450) (5,150)
Debt issuance costs (1,729) (1,881)
Net cash provided by (used in) financing activities 101,869 275,887
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents (NOTE 2) (26,628) (116,853)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 120,348 286,680
Total of cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 93,720 169,827
Supplemental Disclosure of Cash Flow Information:    
Cash paid to third parties for interest 36,003 21,338
Cash paid for income taxes $ 24,865 $ 31,299