SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of Components of Provision (Benefit) for Credit Losses

	For the three months ended				For the nine months ended
	September 30,				September 30,
Components of Provision (Benefit) for Credit Losses (in thousands)	2024		2023		2024		2023
Provision (benefit) for loan losses	$	—	$	(134)	$	(16)	$	4
Provision (benefit) for risk-sharing obligations		(150)		555		(1,274)		(11,092)
Provision (benefit) for other credit losses		3,000		—		7,600		—
Provision (benefit) for credit losses	$	2,850	$	421	$	6,310	$	(11,088)

Schedule of Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents

	September 30,				December 31,
(in thousands)	2024		2023		2023		2022
Cash and cash equivalents	$	179,759	$	236,321	$	328,698	$	225,949
Restricted cash		39,827		17,768		21,422		17,676
Pledged cash and cash equivalents (NOTE 9)		47,054		46,558		41,283		14,658
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	$	266,640	$	300,647	$	391,403	$	258,283

Schedule of Net Warehouse Interest Income (Expense)

	For the three months ended				For the nine months ended
(in thousands)	September 30,				September 30,
Components of Net Warehouse Interest Income (Expense)	2024		2023		2024		2023
Warehouse interest income	$	10,648	$	11,912	$	24,784	$	34,015
Warehouse interest expense		(12,795)		(13,943)		(29,631)		(37,571)
Net warehouse interest income (expense)	$	(2,147)	$	(2,031)	$	(4,847)	$	(3,556)

Schedule of Contracts with Customers

	For the three months ended				For the nine months ended
(in thousands)	September 30,				September 30,
Description	2024		2023		2024		2023		Statement of income line item
Certain loan origination fees	$	21,310	$	16,259	$	64,718	$	50,982	Loan origination and debt brokerage fees, net
Property sales broker fees		19,322		16,862		39,408		38,831	Property sales broker fees
Investment management fees		11,744		13,362		40,086		44,844	Investment management fees
Application fees, appraisal revenues, subscription revenues, syndication fees, and other revenues		12,014		15,138		41,008		56,602	Other revenues
Total revenues derived from contracts with customers	$	64,390	$	61,621	$	185,220	$	191,259