| Dec'19 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | |
|---|---|---|---|---|---|---|
Operating Activities | ||||||
Net loss | ||||||
270,000 | 31,000 | - | - | - | - | |
Net income | ||||||
274,000 | 30,000 | - | -61,833 | 3,070 | 338 | |
Adjustments to reconcile net loss to net cash attributable to operating activities: | ||||||
Deferred tax benefit | ||||||
-366,000 | -46,000 | - | - | - | - | |
Net gain on mortgage loans held for sale | ||||||
1,098,000 | 607,000 | - | - | - | - | |
Interest income on reverse mortgage loans | ||||||
307,000 | 490,000 | - | - | - | - | |
Loss (gain) on sale of assets | ||||||
-2,000 | 8,000 | - | - | - | - | |
MSL related increased obligation | ||||||
0 | 0 | - | - | - | - | |
Provision for reserves | ||||||
66,000 | 148,000 | - | - | - | - | |
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities | ||||||
1,005,000 | 430,000 | - | - | - | - | |
Fair value changes in excess spread financing | ||||||
169,000 | -12,000 | - | - | - | - | |
Fair value changes in mortgage servicing rights financing liability | ||||||
-5,000 | 17,000 | - | - | - | - | |
Fair value changes in mortgage loans held for investment | ||||||
3,000 | 0 | - | - | - | - | |
Amortization of premiums, net of discount accretion | ||||||
32,000 | -82,000 | - | - | - | - | |
Depreciation and amortization for property and equipment and intangible assets | ||||||
91,000 | 59,000 | - | - | - | - | |
Amortization of premium or discount on fixed maturity securities | ||||||
- | - | - | 574 | 1,663 | 2,309 | |
Net realized (gain) loss on sale of investments | ||||||
- | - | - | 324 | 436 | -1,575 | |
Unrealized gain on trading securities | ||||||
- | - | - | -463 | -774 | -3,492 | |
Loss on derivative embedded conversion feature | ||||||
- | - | - | -54,621 | - | - | |
Share-based compensation | ||||||
18,000 | 17,000 | - | 1,129 | 807 | 401 | |
Other loss | ||||||
-11,000 | -6,000 | - | - | - | - | |
Repurchases of forward loan assets out of Ginnie Mae securitizations | ||||||
2,895,000 | 1,249,000 | - | - | - | - | |
Mortgage loans originated and purchased for sale, net of fees | ||||||
40,257,000 | 19,159,000 | - | - | - | - | |
Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment | ||||||
41,948,000 | 20,776,000 | - | - | - | - | |
Changes in assets and liabilities: | ||||||
Advances and other receivables | ||||||
-228,000 | 30,000 | - | - | - | - | |
Reverse mortgage interests | ||||||
-2,192,000 | -1,672,000 | - | - | - | - | |
Accrued investment income | ||||||
- | - | - | -241 | -634 | -588 | |
Other assets | ||||||
-78,000 | 75,000 | - | -157 | -586 | -338 | |
Payables and other liabilities | ||||||
-85,000 | -193,000 | - | - | - | - | |
Cash equivalents held in trust | ||||||
- | - | - | -7,435 | -21,971 | 16,074 | |
Restricted cash | ||||||
- | - | - | - | 2,332 | -25,054 | |
Losses and loss adjustment reserves | ||||||
- | - | - | -13,884 | -25,367 | -38,210 | |
Losses payable | ||||||
- | - | - | -291 | -1,821 | 377 | |
Unearned premiums | ||||||
- | - | - | -333 | -300 | 1,169 | |
Accrued ceding commission expense | ||||||
- | - | - | -11 | -58 | -34 | |
Accrued interest on notes payable | ||||||
- | - | - | -102 | -805 | -333 | |
Loss contract reserve | ||||||
- | - | - | 2,926 | 33,770 | 5,898 | |
Other liabilities | ||||||
- | - | - | 904 | 1,803 | 682 | |
Total adjustments | ||||||
- | - | - | 47,653 | -36,651 | -24,564 | |
Net cash attributable to operating activities | ||||||
702,000 | 1,359,000 | - | -14,180 | -33,581 | -24,226 | |
Investing Activities | ||||||
Acquisitions, net of cash acquired | ||||||
85,000 | 0 | - | - | - | - | |
Property and equipment additions, net of disposals | ||||||
49,000 | 42,000 | - | - | - | - | |
Purchase of forward mortgage servicing rights, net of liabilities incurred | ||||||
547,000 | 63,000 | - | - | - | - | |
Net payment related to acquisition of HECM related receivables | ||||||
0 | 0 | - | - | - | - | |
Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables | ||||||
0 | -16,000 | - | - | - | - | |
Proceeds on sale of forward and reverse mortgage servicing rights | ||||||
343,000 | 71,000 | - | - | - | - | |
Proceeds on sale of assets | ||||||
0 | 16,000 | - | - | - | - | |
Purchase of cost-method investments | ||||||
0 | 4,000 | - | 269,694 | 511,103 | 430,983 | |
Proceeds from sales and maturities of investments | ||||||
- | - | - | 230,567 | 667,262 | 482,275 | |
Proceeds from issuance of preferred stock | ||||||
- | - | - | 600,000 | 22,572 | - | |
Net cash attributable to investing activities | ||||||
-338,000 | -6,000 | - | -39,127 | 156,159 | 51,292 | |
Financing Activities | ||||||
(Decrease) increase in warehouse facilities | ||||||
1,704,000 | 863,000 | - | - | - | - | |
Increase (decrease) in advance facilities | ||||||
-186,000 | -241,000 | - | - | - | - | |
Fees incurred and paid relating to preferred stock issuance | ||||||
- | - | - | 19,310 | 3,348 | - | |
Redeemable convertible series B preferred stock dividends | ||||||
- | - | - | 16,998 | - | - | |
Deferred offering costs | ||||||
- | - | - | - | 1,497 | 1,071 | |
Repayment of notes payable | ||||||
294,000 | 0 | - | 10,395 | 78,890 | 36,294 | |
Proceeds from issuance of HECM securitizations | ||||||
751,000 | 707,000 | - | - | - | - | |
Proceeds from sale of HECM securitizations | ||||||
20,000 | 0 | - | - | - | - | |
Repayment of HECM securitizations | ||||||
870,000 | 572,000 | - | - | - | - | |
Proceeds from issuance of participating interest financing in reverse mortgage interests | ||||||
277,000 | 575,000 | - | - | - | - | |
Repayment of participating interest financing in reverse mortgage interests | ||||||
-1,868,000 | -2,597,000 | - | - | - | - | |
Proceeds from issuance of excess spread financing | ||||||
542,000 | 0 | - | - | - | - | |
Repayment of excess spread financing | ||||||
27,000 | 23,000 | - | - | - | - | |
Settlements and repayments of excess spread financing | ||||||
219,000 | 207,000 | - | - | - | - | |
Repayment of nonrecourse debt – legacy assets | ||||||
29,000 | 15,000 | - | - | - | - | |
Redemption and repayment of unsecured senior notes | ||||||
100,000 | 123,000 | - | - | - | - | |
Repayment of finance lease liability | ||||||
4,000 | 0 | - | - | - | - | |
Proceeds from non-controlling interests | ||||||
0 | 0 | - | - | - | - | |
Surrender of shares relating to stock vesting | ||||||
2,000 | 4,000 | - | - | - | - | |
Debt financing costs | ||||||
8,000 | 13,000 | - | - | - | - | |
Dividends to non-controlling interests | ||||||
0 | 5,000 | - | - | - | - | |
Increase (decrease) in cash and cash equivalents | ||||||
- | - | - | - | 66,023 | -4,775 | |
Net cash attributable to financing activities | ||||||
-313,000 | -1,655,000 | - | 554,215 | -56,555 | -31,841 | |
Net increase (decrease) in cash, cash equivalents, and restricted cash | ||||||
51,000 | -302,000 | - | - | - | - | |
Notes payable principal issued | ||||||
- | - | - | 918 | 4,608 | 5,524 | |
Net decrease in cash, cash equivalents, and restricted cash | ||||||
- | - | - | 500,908 | - | - | |
Cash paid for interest expense | ||||||
174,000 | 765,000 | - | 2,887 | 18,272 | 9,707 | |
Net cash paid (refunded) for income taxes | ||||||
42,000 | 102,000 | - | - | - | - | |
Supplemental Disclosures of Non-cash Investing Activities | ||||||
Forward mortgage servicing rights sales price holdback | ||||||
49,000 | 0 | - | - | - | - | |
Purchase of forward mortgage servicing rights | ||||||
28,000 | 0 | - | - | - | - | |
Reclassification of derivative asset | ||||||
- | - | - | 66,227 | - | - | |
Notes payable issued in lieu of cash interest payments | ||||||
- | - | - | 918 | 4,608 | 5,524 | |
Redeemable convertible series B preferred stock dividends accrued | ||||||
- | - | - | 750 | - | - | |
Accrued fees relating to series B preferred stock issuance | ||||||
- | - | - | 12,250 | - | - | |
Preferred deemed dividend recorded due to beneficial conversion feature | ||||||
- | - | - | - | 9,455 | - | |
Predecessor | ||||||
Net Income (Loss) Attributable to Parent | ||||||
- | - | 19,000 | - | - | - | |
Deferred tax (benefit) expense | ||||||
- | - | -5,000 | - | - | - | |
Net Income (Loss) Attributable to Noncontrolling Interest | ||||||
- | - | -3,000 | - | - | - | |
Net gain on mortgage loans held for sale | ||||||
- | - | 793,000 | - | - | - | |
Interest income on reverse mortgage loan | ||||||
- | - | 344,000 | - | - | - | |
Gain (Loss) on Disposition of Assets | ||||||
- | - | -2,000 | - | - | - | |
Loss on impairment of assets | ||||||
- | - | 25,000 | - | - | - | |
MSL related increased obligation | ||||||
- | - | 0 | - | - | - | |
Provision for servicing reserves | ||||||
- | - | 108,000 | - | - | - | |
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities | ||||||
- | - | 484,000 | - | - | - | |
Fair value changes in excess spread financing | ||||||
- | - | -25,000 | - | - | - | |
Fair value changes in mortgage servicing rights financing liability | ||||||
- | - | 42,000 | - | - | - | |
Fair value changes in mortgage loan held for investment | ||||||
- | - | 0 | - | - | - | |
Accretion (Amortization) of Discounts and Premiums, Investments | ||||||
- | - | -64,000 | - | - | - | |
Depreciation and amortization for property and equipment and intangible assets | ||||||
- | - | 63,000 | - | - | - | |
Share-based Compensation | ||||||
- | - | 21,000 | - | - | - | |
Operating Activities, Other Income (Loss) | ||||||
- | - | 0 | - | - | - | |
Repurchases of forward loan assets out of Ginnie Mae securitizations | ||||||
- | - | 1,432,000 | - | - | - | |
Payments for Origination and Purchases of Loans Held-for-sale | ||||||
- | - | 20,410,000 | - | - | - | |
Proceeds From Sale And Other Changes In Mortgage Loan Held For Sale | ||||||
- | - | 22,031,000 | - | - | - | |
Excess Tax Benefit (Deficiency) from Share-based Compensation, Operating Activities | ||||||
- | - | 4,000 | - | - | - | |
Increase (Decrease) in Accounts Receivable | ||||||
- | - | -582,000 | - | - | - | |
Increase Decrease in Reverse Funded Advances Due to Securitization | ||||||
- | - | -572,000 | - | - | - | |
Other assets | ||||||
- | - | 25,000 | - | - | - | |
Increase (Decrease) in Accounts Payable and Accrued Liabilities | ||||||
- | - | 26,000 | - | - | - | |
Net cash attributable to operating activities | ||||||
- | - | 972,000 | - | - | - | |
Acquisitions, net of cash acquired | ||||||
- | - | 0 | - | - | - | |
Payments for (Proceeds from) Productive Assets | ||||||
- | - | 62,000 | - | - | - | |
Purchase of forward mortgage servicing rights, net of liabilities incurred | ||||||
- | - | 144,000 | - | - | - | |
Net payment related to acquisition of HECM related receivables | ||||||
- | - | 0 | - | - | - | |
Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables | ||||||
- | - | 3,600,000 | - | - | - | |
Proceeds on sale of forward and reverse mortgage servicing rights | ||||||
- | - | 68,000 | - | - | - | |
Proceeds on sale of assets | ||||||
- | - | 0 | - | - | - | |
Purchase of cost-method investments | ||||||
- | - | 0 | - | - | - | |
Net cash attributable to investing activities | ||||||
- | - | -3,738,000 | - | - | - | |
Increase (decrease) in warehouse facilities | ||||||
- | - | 529,000 | - | - | - | |
Proceeds from (Repayments of) Lines of Credit | ||||||
- | - | -550,000 | - | - | - | |
Net cash attributable to financing activities | ||||||
- | - | 2,698,000 | - | - | - | |
Proceeds from issuance of HECM securitizations | ||||||
- | - | 728,000 | - | - | - | |
Repayment of HECM securitizations | ||||||
- | - | 713,000 | - | - | - | |
Proceeds From Issuance Of Participating Interest Financing In Reverse Mortgage Interests, Net | ||||||
- | - | 4,124,000 | - | - | - | |
Proceeds from (Payments for) Mortgage Backed Securities Notes Payable | ||||||
- | - | -1,185,000 | - | - | - | |
Proceeds from the issuance of excess spread financing | ||||||
- | - | 155,000 | - | - | - | |
Repayment of excess spread financing | ||||||
- | - | 198,000 | - | - | - | |
Settlement of excess spread financing | ||||||
- | - | 0 | - | - | - | |
Repayment of nonrecourse debt – legacy assets | ||||||
- | - | 18,000 | - | - | - | |
Repurchase of unsecured senior notes | ||||||
- | - | 40,000 | - | - | - | |
Redemption and repayment of unsecured senior notes | ||||||
- | - | 0 | - | - | - | |
Repurchase of common stock | ||||||
- | - | 114,000 | - | - | - | |
Proceeds from non-controlling interests | ||||||
- | - | 0 | - | - | - | |
Excess Tax Benefit (Deficiency) from Share-based Compensation, Financing Activities | ||||||
- | - | -4,000 | - | - | - | |
Surrender of shares relating to stock vesting | ||||||
- | - | 3,000 | - | - | - | |
Payments of Financing Costs | ||||||
- | - | 13,000 | - | - | - | |
Dividends to non-controlling interests | ||||||
- | - | 0 | - | - | - | |
Net decrease in cash, cash equivalents, and restricted cash | ||||||
- | - | -68,000 | - | - | - | |
Cash paid for interest expense | ||||||
- | - | 694,000 | - | - | - | |
Net cash paid for income taxes | ||||||
- | - | 17,000 | - | - | - | |