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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net income before noncontrolling interests $ 130,275 $ 115,497
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 (132,995) (119,313)
Change in the fair value of premiums and origination fees 920 (2,226)
Amortization and depreciation 112,920 105,863
Provision (benefit) for credit losses 2,864 842
Originations of loans held for sale (12,098,180) (10,472,456)
Sales of loans to third parties 11,910,016 9,281,943
Other operating activities, net (18,848) (7,608)
Net cash provided by (used in) operating activities (93,028) (1,097,458)
Cash flows from investing activities    
Capital expenditures (4,166) (1,965)
Purchase of pledged available-for-sale ("AFS") securities (25,611) (60,088)
Proceeds from prepayment of pledged debt AFS securities 18,116  
Funding of preferred equity investments   (1,100)
Proceeds from the payoff of preferred equity investments   30,624
Distributions from (investments in) joint ventures (10,377) (890)
Acquisitions, net of cash acquired (7,180) (33,102)
Purchase of mortgage servicing rights   (1,814)
Originations of loans held for investment (154,302) (225,369)
Principal collected on loans held for investment upon payoff 200,315 87,688
Net cash provided by (used in) investing activities 16,795 (206,016)
Cash flows from financing activities    
Borrowings (repayments) of warehouse notes payable, net 53,372 1,228,850
Borrowings of interim warehouse notes payable 85,678 50,455
Repayments of interim warehouse notes payable (38,527) (61,049)
Repayments of note payable (2,250) (828)
Proceeds from issuance of common stock 4,453 8,939
Repurchase of common stock (29,850) (26,712)
Cash dividends paid (27,936) (23,600)
Payment of contingent consideration (6,450) (5,150)
Debt issuance costs (2,465) (2,550)
Secured borrowings   70,052
Net cash provided by (used in) financing activities 36,025 1,238,407
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents (NOTE 2) (40,208) (65,067)
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 80,140 221,613
Supplemental Disclosure of Cash Flow Information:    
Cash paid to third parties for interest 51,085 35,315
Cash paid for income taxes $ 33,665 $ 37,168