Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest income:    
Available-for-sale securities $ 44,647 $ 55,652
Other 199 457
Total interest income 44,846 56,109
Interest expense:    
Repurchase agreements 8,343 8,470
Revolving credit facilities 5,676 4,695
Term notes payable 3,256 3,211
Convertible senior notes 5,042 6,350
Total interest expense 22,317 22,726
Net interest income 22,529 33,383
Other income:    
(Loss) gain on investment securities (52,342) 132,868
Servicing income 136,626 107,119
Gain on servicing asset 410,624 327,438
Loss on interest rate swap and swaption agreements (38,041) (15,599)
Loss on other derivative instruments (101,762) (276,011)
Other loss (44) (5,742)
Total other income 355,061 270,073
Expenses:    
Servicing expenses 24,704 24,947
Compensation and benefits 12,193 8,188
Other operating expenses 6,625 7,487
Total expenses 43,522 40,622
Income before income taxes 334,068 262,834
Provision for income taxes 48,798 22,677
Net income 285,270 240,157
Dividends on preferred stock 13,747 17,216
Net income attributable to common stockholders $ 271,523 $ 222,941
Basic earnings per weighted average common share $ 0.79 $ 0.81
Diluted earnings per weighted average common share $ 0.72 $ 0.74
Weighted average basic common shares (in shares) 343,998,511 273,710,765
Weighted average diluted common shares (in shares) 384,822,202 311,465,060
Comprehensive loss:    
Net income $ 285,270 $ 240,157
Other comprehensive loss, net of tax:    
Unrealized loss on available-for-sale securities (331,845) (271,453)
Other comprehensive loss (331,845) (271,453)
Comprehensive loss (46,575) (31,296)
Dividends on preferred stock 13,747 17,216
Comprehensive loss attributable to common stockholders $ (60,322) $ (48,512)