CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income (loss)	$ 16,615	$ (15,949)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Gains on originated mortgage servicing rights	(26,101)	(18,711)
Depreciation and amortization	46,232	46,358
Provision (benefit) for credit losses on the financial guarantee liability	1,460	1,503
Provision (reversal) for doubtful accounts	2,657	1,559
Equity-based compensation and allocation of net income to limited partnership units and FPUs	68,396	74,346
Employee loan amortization and other non-cash compensation expense	33,280	32,359
Non-cash changes in acquisition related earn-outs	200	188
Unrealized (gains) on loans held for sale	(9,403)	(20,121)
Loan originations—loans held for sale	(2,648,639)	(1,737,433)
Loan sales—loans held for sale	2,430,047	1,684,416
Other	184	(42)
Consolidated net income (loss), adjusted for non-cash and non-operating items	(85,072)	48,473
Changes in operating assets and liabilities:
Receivables, net	(49,669)	42,320
Loans, forgivable loans and other receivables from employees and partners, net	(63,302)	(122,330)
Right-of-use assets	32,302	(12,919)
Receivable from related parties	0	326
Other assets	(1,827)	(62,464)
Accrued compensation	(38,164)	(115,978)
Right-of-use liability	(34,095)	10,178
Accounts payable, accrued expenses and other liabilities	(8,198)	26,778
Payables to related parties	427	6,212
Net cash provided by (used in) operating activities	(247,598)	(179,404)
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for acquisitions, net of cash acquired and proceeds from divestitures	(2,448)	0
Purchase of non-marketable investments	(500)	0
Purchases of fixed assets	(10,211)	(5,444)
Net cash provided by (used in) investing activities	(13,159)	(5,444)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from warehouse facilities	2,648,639	1,737,433
Principal payments on warehouse facilities	(2,416,428)	(1,670,576)
Borrowing of debt	175,000	115,000
Repayment of debt	(15,000)	(15,000)
Treasury stock repurchases	(136,347)	0
Earnings and tax distributions to limited partnership interests and other noncontrolling interests	(3,964)	(12,869)
Dividends to stockholders	(5,442)	(5,420)
Payments on acquisition earn-outs	0	(943)
Net cash provided by (used in) financing activities	246,458	147,625
Net increase (decrease) in cash and cash equivalents and restricted cash	(14,299)	(37,223)
Cash and cash equivalents and restricted cash at beginning of period	233,906	304,865
Cash and cash equivalents and restricted cash at end of period	219,607	267,642
Cash paid during the period for:
Interest	23,659	24,337
Taxes	2,814	4,700
Supplemental disclosure of non-cash operating, investing and financing activities:
Right-of-use assets and liabilities	$ 4,248	$ 46,715