v3.22.2.2
CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest Income        
Residential loans $ 61,002 $ 53,993 $ 191,252 $ 146,081
Business purpose loans 95,197 67,129 270,430 201,640
Consolidated Agency multifamily loans 4,762 4,846 14,247 14,492
Real estate securities 6,989 14,242 30,772 33,184
Other interest income 9,712 5,512 27,816 17,325
Total interest income 177,662 145,722 534,517 412,722
Interest Expense        
Short-term debt (23,944) (11,826) (49,093) (30,794)
Asset-backed securities issued (90,910) (73,732) (285,464) (222,712)
Long-term debt (27,873) (18,196) (71,435) (60,865)
Total interest expense (142,727) (103,754) (405,992) (314,371)
Net Interest Income 34,935 41,968 128,525 98,351
Non-interest (Loss) Income        
Mortgage banking activities, net 16,535 63,163 2,833 200,189
Investment fair value changes, net (57,697) 26,077 (151,789) 120,644
Other income, net 4,027 2,388 17,016 8,357
Realized gains, net 0 6,703 2,581 17,803
Total non-interest (loss) income, net (37,135) 98,331 (129,359) 346,993
General and administrative expenses (40,107) (47,692) (106,927) (131,837)
Loan acquisition costs (2,426) (4,621) (10,371) (11,928)
Other expenses (4,261) (4,023) (11,814) (12,104)
Net (Loss) Income before Benefit from (Provision for) Income Taxes (48,994) 83,963 (129,946) 289,475
(Provision for) benefit from income taxes (1,417) 4,323 10,484 (13,907)
Net (Loss) Income $ (50,411) $ 88,286 $ (119,462) $ 275,568
Basic (loss) earnings per common share (in dollars per share) $ (0.44) $ 0.75 $ (1.04) $ 2.36
Diluted (loss) earnings per common share (in dollars per share) $ (0.44) $ 0.65 $ (1.04) $ 2.03
Basic weighted average shares outstanding (in shares) 116,087,890 112,995,847 118,530,172 112,754,691
Diluted weighted average shares outstanding (in shares) 116,087,890 141,855,471 118,530,172 141,575,385

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