v3.25.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest Income    
Residential consumer loans $ 162,343 $ 86,935
Residential investor loans 78,155 95,035
Consolidated Agency multifamily loans 4,448 4,581
Real estate securities 18,537 6,280
Other interest income 8,611 11,909
Total interest income 272,094 204,740
Interest Expense    
Asset-backed securities issued (179,370) (120,259)
Debt obligations (64,782) (60,271)
Total interest expense (244,152) (180,530)
Net Interest Income 27,942 24,210
Non-Interest Income    
Mortgage banking activities, net 33,053 14,556
Investment fair value changes, net (5,188) 21,837
HEI income, net 10,166 9,086
Servicing income, net 3,407 4,225
Fee income, net 2,351 1,001
Other income (loss), net 1,550 (775)
Realized gains, net 567 409
Total non-interest income, net 45,906 50,339
General and administrative expenses (37,471) (34,569)
Portfolio management costs (6,491) (3,597)
Loan acquisition costs (3,568) (2,237)
Other expenses (3,909) (3,361)
Net Income Before Provision for Income Taxes 22,409 30,785
Provision for income taxes (6,262) (523)
Net Income 16,147 30,262
Dividends on preferred stock (1,750) (1,750)
Net Income Available To Common Stockholders $ 14,397 $ 28,512
Basic earnings per common share (in dollars per share) $ 0.10 $ 0.21
Diluted earnings per common share (in dollars per share) $ 0.10 $ 0.21
Basic weighted average common shares outstanding (in shares) 132,766,199 131,570,347
Diluted weighted average common shares outstanding (in shares) 132,766,199 131,570,347

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