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in million USD FY '11FY '12FY '13FY '14FY '15
Gains on mortgage loans held for sale, net
17
71
83
133
142
Changes in mortgage servicing rights valuation
0
0
23
-56
-30
Payoffs and principal amortization of mortgage servicing rights
0
0
-9
-24
-42
Loan origination and other loan fees
4
10
21
25
24
Loan servicing fees
3
6
22
44
55
Interest and other income
2
5
17
35
34
Other revenue
0
1
0
0
0
Total revenues
26
94
158
158
183
Salaries, commissions and benefits
13
33
72
116
116
General and Administrative Expense
3
8
23
35
32
Interest expense
3
6
14
26
31
Occupancy, equipment and communication
2
3
10
15
17
Impairment of mortgage servicing rights
0
12
0
0
0
Amortization of mortgage servicing rights
-1
-4
0
0
0
Provision for mortgage repurchases and indemnifications - change in estimate
0
0
0
0
0
Depreciation and amortization expense
0
1
2
5
8
Loss on disposal and impairment of long lived assets
0
0
0
0
0
Total expenses
22
66
122
196
205
(Loss) income from continuing operations before income tax (benefit) expense
4
28
36
-38
-22
Income tax (benefit) expense
2
11
14
-13
-6
(Loss) income from continuing operations, net of tax
0
0
23
-25
-16
Less: Preferred stock dividends
0
0
0
0
0
(Loss) income from continuing operations attributable to common stockholders
2
17
23
-25
-16
(Loss) income from discontinued operations, net of tax
0
0
0
-5
-6
Net (loss) income attributable to common stockholders
2
17
23
-31
-22
Remarks
restated on Nov 30, -1 n/a
calculated values,
restated on Nov 30, -1 n/a
calculated values,
restated on Mar 15, 2016 n/a
calculated values,
restated on Mar 15, 2016 n/a
calculated values,
restated on Nov 30, -1 n/a
calculated values,
Balance SheetBS data quality: 0% (?)
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Reason:
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No data available for the selected time periods
in million USD FY '11FY '12FY '13FY '14FY '15
Assets
Cash and cash equivalents
n/a
15
43
45
32
Restricted cash
n/a
3
1
4
4
Mortgage loans held for sale, at fair value
n/a
219
683
1,048
646
Servicing advances, net
n/a
1
4
11
19
Derivative assets
n/a
12
20
13
12
Mortgage servicing rights, at fair value
n/a
0
170
204
200
Mortgage servicing rights, at lower of amortized cost or fair value
n/a
42
0
0
0
Property and equipment, net
n/a
4
13
17
23
Goodwill
n/a
0
0
0
0
Investment in closely held entity, at cost
n/a
1
0
0
0
Loans eligible for repurchase from GNMA
n/a
7
26
109
81
Warehouse lending receivables
n/a
0
12
85
199
Goodwill and Other Intangible Assets, Net
n/a
4
9
7
7
Subordinated loan receivable
n/a
0
0
30
30
Other assets
n/a
2
9
21
27
Total assets
n/a
310
990
1,597
1,281
Liabilities and owners' equity
Secured borrowings - mortgage loans
n/a
103 102675000
342 342393000
593 592798000
493 492799000
Secured borrowings - mortgage servicing rights
n/a
0 0
0 0
76 75970000
77 77069000
Secured borrowings - eligible GNMA loan repurchases
n/a
0 0
0 0
0 0
38 37615000
Mortgage repurchase borrowings
n/a
100 100301000
223 223113000
472 472045000
279 279421000
Warehouse lines of credit
n/a
0 0
7 7056000
1 1374000
1 1306000
Operating lines of credit
n/a
5 5131000
6 6499000
2 2000000
5 5000000
Accounts payable and accrued expenses
n/a
19 18606000
25 25097000
28 28350000
24 23544000
Derivative liabilities
n/a
2 1787000
4 3520000
9 9044000
3 2517000
Reserve for mortgage repurchases and indemnifications
n/a
2 1917000
4 3709000
5 4967000
6 5536000
Due to related parties
n/a
0 348000
1 608000
0 0
0 0
Contingent earn-out liabilities
n/a
2 2095000
4 3791000
0 0
0 0
Liability for loans eligible for repurchase from GNMA
n/a
7 7116000
26 26268000
109 109397000
81 80794000
Deferred income tax liabilities, net
n/a
14 14381000
28 28379000
12 11831000
2 2364000
Other liabilities
n/a
0 0
12 11955000
9 8700000
11 11033000
Total liabilities
n/a
254 254357000
682 682388000
1,316 1316476000
1,019 1018998000
Commitments and contingencies
n/a
0 0
0 0
0 0
0 0
Preferred stock, without par value
n/a
33 33000000
0 0
0 0
0 0
Common stock, par value $0.01
n/a
0 35000
0 264000
0 264000
0 264000
Treasury stock, at cost
n/a
-2 -1820000
0 0
0 0
0 0
Additional paid-in capital
n/a
3 3198000
264 263830000
267 267083000
271 270906000
Retained earnings
n/a
21 20836000
43 43407000
13 12728000
-10 -9542000
Total stockholders’ equity
n/a
55 55249000
308 307501000
280 280075000
262 261628000
Total liabilities and stockholders’ equity
n/a
310 309606000
990 989889000
1,597 1596551000
1,281 1280626000
Remarks restated on n/a restated on Nov 30, -1 n/a restated on Mar 6, 2015 n/a restated on Mar 15, 2016 n/a restated on Nov 30, -1 n/a
Cash Flow StatementCF data quality: 0% (?)
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Reason:
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No data available for the selected time periods
in million USD FY '11FY '12FY '13FY '14FY '15
Net (loss) income
2
17
23
-31
-22
Depreciation and amortization expense
0
1
2
5
9
Loss on disposal and impairment of long lived assets
0
0
0
2
2
Bargain purchase gain
0
-1
0
0
0
Amortization of debt issuance facility fees
0
0
2
0
1
Forgiveness of note receivable from stockholder
0
0
0
0
0
Gains on mortgage loans held for sale, net
-17
-71
-83
-157
-170
Changes in mortgage servicing rights valuation
0
0
-23
56
30
Amortization of mortgage servicing rights
1
4
0
0
0
Impairment of mortgage servicing rights
0
12
0
0
0
Gain on sale of mortgage servicing rights
0
0
0
0
0
Payoffs and principal amortization of mortgage servicing rights
0
0
9
24
42
Provision for reserve for (release of) mortgage repurchases and indemnifications - change in estimate
0
0
0
1
1
Stock-based compensation expense
0
0
3
3
4
Deferred income tax (benefit) expense
2
11
14
-16
-9
Change in fair value of contingent earn-out liabilities
0
0
0
0
0
Payments of contingent earn-out liabilities in excess of original fair value estimate
0
0
0
0
0
Proceeds from sales and principal payments of mortgage loans held for sale
1,068
3,318
8,244
12,300
12,995
Originations and purchases of mortgage loans held for sale
-1,050
-3,449
-8,707
-12,636
-12,499
Repurchases and indemnifications of previously sold loans
0
0
-4
-17
-49
Repurchases of eligible GNMA loans
0
0
0
0
-42
Paydown of eligible GNMA loans
0
0
0
0
3
Restricted cash
1
-3
3
-4
0
Servicing advances
0
-1
-3
-7
-5
Warehouse lending receivables
0
0
-12
-73
-114
Other assets
-1
-1
-5
-6
-9
Accounts payable and accrued expenses
2
14
17
3
-6
Other liabilities
0
0
0
-6
4
Due to related parties
0
0
0
-1
0
Net cash provided by (used in) operating activities
9
-151
-524
-561
166
Purchase of subsidiary in a business combination, net of cash acquired
0
0
0
0
0
Net proceeds from sale of property and equipment
0
0
0
0
0
Net proceeds from sales of mortgage servicing rights
0
0
0
42
87
Subordinated loan receivable
0
0
0
-30
0
Purchases of property and equipment
-1
-3
-10
-9
-14
Capitalized long-lived assets
0
0
0
0
2
Purchases in a business combination, net of cash acquired
0
-1
-6
0
0
Purchase of mortgage servicing rights
0
0
-2
-2
0
Repayment of notes receivable from stockholder
0
0
0
0
0
Net cash provided by (used in) investing activities
-1
-3
-17
1
71
Proceeds from borrowings under mortgage funding arrangements - mortgage loans and operating lines of credit
6
145
9,490
19,087
18,892
Repayments of borrowings under mortgage funding arrangements - mortgage loans and operating lines of credit
-16
-3
-9,147
-18,521
-19,144
Repayments of borrowings under mortgage funding arrangements - mortgage loans and operating lines of credit
0
0
0
0
78
Repayments of borrowings under mortgage funding arrangements - MSRs
0
-1
0
0
-76
Payments of contingent earn-out liabilities not exceeding original fair value estimate
0
0
0
-1
-1
Payments of Debt Issuance Costs
0
0
0
-1
2
Proceeds from borrowing from stockholder
0
0
10
0
0
Repayment of borrowing from stockholder
0
0
-4
0
0
Proceeds from borrowing of subordinated debt
1
0
0
0
0
Payments of capital lease obligations
0
0
0
0
0
Net proceeds from issuance of common stock
1
1
226
0
0
Proceeds from issuance of preferred stock
1
32
0
0
0
Payment for redemption of preferred stock
0
-2
0
0
0
Purchase of treasury stock
0
-2
0
0
0
Payment of equity issuance costs
0
-2
-6
0
0
Payment of preferred stock dividends
0
0
0
0
0
Net cash (used in) provided by financing activities
-8
169
569
563
-250
Change in cash and cash equivalents
0
15
28
2
-13
Remarks
restated on Nov 30, -1 n/a
calculated values,
restated on Nov 30, -1 n/a
calculated values,
restated on Mar 15, 2016 n/a
calculated values,
restated on Mar 15, 2016 n/a
calculated values,
restated on Nov 30, -1 n/a
calculated values,