Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest income:    
Available-for-sale securities $ 248,684 $ 235,886
Other 6,823 9,597
Total interest income 255,507 245,483
Interest expense:    
Repurchase agreements 152,605 147,560
Federal Home Loan Bank advances 1,592 6,074
Revolving credit facilities 3,531 5,156
Term notes payable 4,804 0
Convertible senior notes 4,776 4,735
Total interest expense 167,308 163,525
Net interest income 88,199 81,958
Other-than-temporary impairments:    
Total other-than-temporary impairment losses 0 (206)
Other income (loss):    
Loss on investment securities (1,081,607) (19,292)
Servicing income 130,797 116,948
Loss on servicing asset (586,665) (188,974)
Loss on interest rate swap, cap and swaption agreements (250,596) (83,259)
(Loss) gain on other derivative instruments (133,468) 104,278
Other income 798 123
Total other loss (1,920,741) (70,176)
Expenses:    
Management fees 14,550 12,082
Servicing expenses 19,905 19,912
Other operating expenses 15,797 15,556
Total expenses 50,252 47,550
Loss before income taxes (1,882,794) (35,974)
Benefit from income taxes (13,138) (10,039)
Net loss (1,869,656) (25,935)
Dividends on preferred stock 18,950 18,950
Net loss attributable to common stockholders $ (1,888,606) $ (44,885)
Basic loss per weighted average common share (in usd per share) $ (6.91) $ (0.18)
Diluted loss per weighted average common share (in usd per share) (6.91) (0.18)
Dividends declared per common share (in usd per share) $ 0 $ 0.47
Weighted average basic common shares outstanding (in shares) 273,392,615 252,357,878
Weighted average diluted common shares outstanding (in shares) 273,392,615 252,357,878
Comprehensive (loss) income:    
Net loss $ (1,869,656) $ (25,935)
Other comprehensive (loss) income, net of tax:    
Unrealized (loss) gain on available-for-sale securities (198,070) 356,152
Other comprehensive (loss) income (198,070) 356,152
Comprehensive (loss) income (2,067,726) 330,217
Dividends on preferred stock 18,950 18,950
Comprehensive (loss) income attributable to common stockholders $ (2,086,676) $ 311,267