v3.23.2
CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest Income        
Residential loans $ 56,751 $ 65,047 $ 114,625 $ 130,250
Business purpose loans 98,264 80,934 195,560 175,233
Consolidated Agency multifamily loans 4,697 4,732 9,315 9,485
Real estate securities 6,223 7,828 12,651 23,783
Other interest income 13,046 8,914 25,346 18,104
Total interest income 178,981 167,455 357,497 356,855
Interest Expense        
Short-term debt (28,711) (13,661) (60,539) (25,149)
Asset-backed securities issued (90,093) (88,859) (177,558) (194,554)
Long-term debt (34,081) (24,447) (66,867) (43,562)
Total interest expense (152,885) (126,967) (304,964) (263,265)
Net Interest Income 26,096 40,488 52,533 93,590
Non-Interest Income (Loss)        
Mortgage banking activities, net 16,552 (30,017) 33,223 (13,702)
Investment fair value changes, net (4,596) (87,972) (4,723) (94,092)
Other income, net 4,158 7,006 8,714 12,989
Realized gains, net 1,056 0 1,054 2,581
Total non-interest income (loss), net 17,170 (110,983) 38,268 (92,224)
General and administrative expenses (30,805) (30,199) (66,360) (63,475)
Portfolio management costs (3,100) (1,767) (6,610) (3,345)
Loan acquisition costs (1,444) (3,480) (2,733) (7,945)
Other expenses (4,975) (3,468) (8,659) (7,553)
Net Income (Loss) before (Provision for) Benefit from Income Taxes 2,942 (109,409) 6,439 (80,952)
(Provision for) benefit from income taxes (69) 9,443 1,054 11,901
Net Income (Loss) 2,873 (99,966) 7,493 (69,051)
Dividends on preferred stock (1,758) 0 (3,177) 0
Net Income (Loss) available (related) to common stockholders $ 1,115 $ (99,966) $ 4,316 $ (69,051)
Net income (loss) available (related) to common stockholders - Basic (in dollars per share) $ 0 $ (0.85) $ 0.02 $ (0.60)
Net income (loss) available (related) to common stockholders - Diluted (in dollars per share) $ 0 $ (0.85) $ 0.02 $ (0.60)
Basic weighted average common shares outstanding (in shares) 114,051,017 119,660,173 113,830,347 119,771,554
Diluted weighted average common shares outstanding (in shares) 114,445,262 119,660,173 114,255,292 119,771,554

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