v3.26.1
CONSOLIDATED STATEMENTS OF (LOSS) INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Interest Income    
Residential consumer loans $ 276,635 $ 162,343
Residential investor loans 57,039 78,155
Consolidated Agency multifamily loans 0 4,448
Real estate securities 15,187 18,537
Other interest income 8,058 8,611
Total interest income 356,919 272,094
Interest Expense    
Asset-backed securities issued (238,218) (179,370)
Debt obligations (83,984) (64,782)
Total interest expense (322,202) (244,152)
Net Interest Income 34,717 27,942
Non-Interest Income    
Mortgage banking activities, net 31,964 33,053
Investment fair value changes, net (23,199) (5,188)
HEI income, net 7,109 10,166
Servicing income, net 8,021 3,407
Fee income, net 2,886 2,351
Other income, net 2,437 1,550
Realized gains, net 0 567
Total non-interest income, net 29,218 45,906
General and administrative expenses (49,358) (37,471)
Portfolio management costs (8,729) (6,491)
Loan acquisition costs (6,729) (3,568)
Other expenses (7,125) (3,909)
Net (Loss) Income Before Provision for Income Taxes (8,006) 22,409
Benefit from (Provision for) income taxes 2,503 (6,262)
Net (Loss) Income (5,503) 16,147
Dividends on preferred stock (1,750) (1,750)
Net (Loss) Income (Related) Available To Common Stockholders $ (7,253) $ 14,397
Basic (loss) earnings per common share (in dollars per share) $ (0.07) $ 0.10
Diluted (loss) earnings per common share (in dollars per share) $ (0.07) $ 0.10
Basic weighted average common shares outstanding (in shares) 124,769,331 132,766,199
Diluted weighted average common shares outstanding (in shares) 124,769,331 132,766,199

Source