v3.22.4
Consolidated Statements of Income (Loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest Income      
Residential loans $ 250,502 $ 204,801 $ 222,746
Business purpose loans 362,481 270,791 217,617
Consolidated Agency multifamily loans 18,938 19,266 54,813
Real estate securities 37,708 54,704 49,605
Other interest income 38,225 25,364 27,135
Total interest income 707,854 574,926 571,916
Interest Expense      
Short-term debt (84,343) (42,581) (50,895)
Asset-backed securities issued (370,219) (305,801) (299,708)
Long-term debt (97,838) (78,367) (97,402)
Total interest expense (552,400) (426,749) (448,005)
Net Interest Income 155,454 148,177 123,911
Non-interest (Loss) Income      
Mortgage banking activities, net (13,659) 235,744 78,472
Investment fair value changes, net (175,558) 128,049 (588,438)
Other income, net 21,204 12,018 4,188
Realized gains, net 5,334 17,993 30,424
Total non-interest (loss) income, net (162,679) 393,804 (475,354)
General and administrative expenses (140,908) (165,218) (113,498)
Portfolio management costs (7,951) (5,758) (4,204)
Loan acquisition costs (11,766) (16,219) (8,525)
Other expenses (15,590) (16,695) (108,785)
Net (Loss) Income before Benefit from (Provision for) Income Taxes (183,440) 338,091 (586,455)
Benefit from (Provision for) income taxes 19,920 (18,478) 4,608
Net (Loss) Income $ (163,520) $ 319,613 $ (581,847)
Basic earnings (loss) per common share (in dollars per share) $ (1.43) $ 2.73 $ (5.12)
Diluted earnings (loss) per common share (in dollars per share) $ (1.43) $ 2.37 $ (5.12)
Basic weighted average shares outstanding (in shares) 117,227,846 113,230,190 113,935,605
Diluted weighted average shares outstanding (in shares) 117,227,846 142,070,301 113,935,605

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