XML 74 R63.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Business Combinations - Acquisitions (Details) - USD ($)
$ / shares in Units, $ in Thousands, shares in Millions
3 Months Ended 6 Months Ended
Jun. 05, 2024
May 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Business Combination, Consideration Transferred [Abstract]              
Contingent consideration     $ 3,926   $ 3,926   $ 7,628
Goodwill     49,091   49,091   $ 38,530
Bargain purchase gain     $ (18,306) $ 229,894 (18,306) $ 229,894  
Madison One              
Assets:              
Cash and cash equivalents $ 83            
Restricted cash 721            
Servicing rights 16,304            
Intangible assets 10,400            
Other assets 303            
Total assets acquired 27,811            
Liabilities:              
Accounts payable and other accrued liabilities 978            
Total liabilities assumed 978            
Net assets acquired 26,833            
Non-controlling interests (600)            
Net assets acquired, net of non-controlling interests 26,233            
Business Combination, Consideration Transferred [Abstract]              
Cash paid 32,868            
Contingent consideration 3,926            
Total consideration transferred 36,794            
Goodwill $ 10,561            
Broadmark              
Assets:              
Cash and cash equivalents   $ 38,710          
Loans, net   764,367          
Real estate owned, held for sale   135,240          
Other assets   9,956          
Total assets acquired   948,273          
Liabilities:              
Corporate debt   98,028          
Accounts payable and other accrued liabilities   23,350          
Total liabilities assumed   121,378          
Net assets acquired   826,895          
Business Combination, Consideration Transferred [Abstract]              
Consideration transferred based on value of stock issued   637,229          
Bargain purchase gain   $ 189,666          
Number of common shares issued in acquisition   62.2          
Price per share of stock issued   $ 10.24          
Measurement Period Adjustments              
Bargain purchase gain   $ (40,200)          
Broadmark | Previously Reported              
Assets:              
Cash and cash equivalents   38,710          
Loans, net   772,954          
Real estate owned, held for sale   158,911          
Other assets   17,107          
Total assets acquired   987,682          
Liabilities:              
Corporate debt   98,028          
Accounts payable and other accrued liabilities   22,531          
Total liabilities assumed   120,559          
Net assets acquired   867,123          
Business Combination, Consideration Transferred [Abstract]              
Consideration transferred based on value of stock issued   637,229          
Bargain purchase gain   229,894          
Broadmark | Adjustments              
Measurement Period Adjustments              
Loans, net   (8,587)          
Real estate owned, held for sale   (23,671)     $ (23,700)    
Other assets   (7,151)          
Total assets acquired   (39,409)          
Accounts payable and other accrued liabilities   819          
Total liabilities assumed   819          
Net assets acquired   (40,228)          
Bargain purchase gain   $ (40,228)