v3.24.0.1
Consolidated Statements of Income (Loss) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest Income      
Residential loans $ 253,911 $ 250,502 $ 204,801
Business purpose loans 382,316 362,481 270,791
Consolidated Agency multifamily loans 18,645 18,938 19,266
Real estate securities 21,550 37,708 54,704
Other interest income 48,040 38,225 25,364
Total interest income 724,462 707,854 574,926
Interest Expense      
Short-term debt (116,361) (84,343) (42,581)
Asset-backed securities issued (371,761) (370,219) (305,801)
Long-term debt (143,397) (97,838) (78,367)
Total interest expense (631,519) (552,400) (426,749)
Net Interest Income 92,943 155,454 148,177
Non-interest Income (Loss)      
Mortgage banking activities, net 67,386 (13,659) 235,744
Investment fair value changes, net (44,400) (178,272) 114,624
HEI income, net 35,117 2,714 13,425
Other income, net 12,886 21,204 12,018
Realized gains, net 1,699 5,334 17,993
Total non-interest income (loss), net 72,688 (162,679) 393,804
General and administrative expenses (128,295) (140,908) (165,218)
Portfolio management costs (14,571) (7,951) (5,758)
Loan acquisition costs (7,166) (11,766) (16,219)
Other expenses (16,238) (15,590) (16,695)
Net (Loss) Income before (Provision for) Benefit from Income Taxes (639) (183,440) 338,091
(Provision for) benefit from income taxes (1,635) 19,920 (18,478)
Net (Loss) Income (2,274) (163,520) 319,613
Dividends on preferred stock (6,684) 0 0
Net (loss) income (related) attributable to common stockholders $ (8,958) $ (163,520) $ 319,613
Basic (loss) earnings per common share (in dollars per share) $ (0.11) $ (1.43) $ 2.73
Diluted (loss) earnings per common share (in dollars per share) $ (0.11) $ (1.43) $ 2.37
Basic weighted average common shares outstanding (in shares) 116,283,328 117,227,846 113,230,190
Diluted weighted average common shares outstanding (in shares) 116,283,328 117,227,846 142,070,301

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