CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income	$ 714	$ 44,578
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Gain on originated mortgage servicing rights	(36,199)	(48,138)
Depreciation and amortization	35,475	21,053
Provision/(reversals) for/of credit losses on the financial guarantee liability	195	(1,648)
Provision for doubtful accounts	3,788	1,190
Equity-based compensation and allocation of net income to limited partnership units and FPUs	16,899	14,296
Employee loan amortization	18,861	17,322
Deferred tax (benefit) provision	(94)	0
Non-cash changes in acquisition related earn-outs	0	414
Unrealized (gains) on loans held for sale	(965)	(4,035)
Unrealized (gains) on investments	(1,599)	0
Gains from an equity method investment	0	(1,030)
Realized loss (gain) on marketable securities	7,470	(1,950)
Unrealized loss (gain) on marketable securities	80,130	(399)
Change in valuation of derivative asset	313	5,602
Loan originations—loans held for sale	(1,671,022)	(2,164,595)
Loan sales—loans held for sale	2,171,797	2,434,241
Other	611	885
Consolidated net income, adjusted for non-cash and non-operating items	626,374	317,786
Changes in operating assets and liabilities:
Receivables, net	36,663	(15,154)
Loans, forgivable loans and other receivables from employees and partners	(29,123)	(7,726)
Right of use asset	9,854	7,459
Receivable from related parties	8,262	0
Other assets	(34,785)	8,788
Accrued compensation	(108,570)	(24,230)
Right of use liability	(6,014)	(7,481)
Accounts payable, accrued expenses and other liabilities	(13,990)	6,839
Payables to related parties	13,484	4,679
Net cash provided by operating activities	502,155	290,960
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for acquisitions, net of cash acquired	0	(38,971)
Proceeds from the sale of marketable securities	437,820	31,631
Purchase of non-marketable investments	(2,355)	0
Purchases of fixed assets	(8,669)	(2,443)
Net cash provided by investing activities	426,796	(9,783)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from warehouse facilities	1,671,022	2,164,595
Principal payments on warehouse facilities	(2,150,011)	(2,408,764)
Proceeds from the sale of limited partnership interests	0	4,025
Borrowing of debt	0	30,000
Repayment of debt	0	(30,000)
Repurchase agreements and securities loaned	(140,007)	(33,278)
Treasury stock repurchases	(30,893)	(9,283)
Earnings distributions to limited partnership interests and other noncontrolling interests	(20,818)	(6,515)
Dividends to stockholders	(1,893)	(1,841)
Payments on acquisition earn-outs	(2,131)	(37,366)
Deferred financing costs	(2,761)	0
Net cash used in financing activities	(677,492)	(328,427)
Net increase in cash and cash equivalents and restricted cash	251,459	(47,250)
Cash and cash equivalents and restricted cash at beginning of period	266,500	258,399
Cash and cash equivalents and restricted cash at end of period	517,959	211,149
Cash paid during the period for:
Interest	0	892
Taxes	26,190	105
Supplemental disclosure of non-cash operating, investing and financing activities:
Right-of-use assets and liabilities	$ 44,703	$ 244,742