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 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Available-for-sale securities $ 55,399 $ 43,092 $ 100,046 $ 98,744
Other 1,604 351 1,803 808
Total interest income 57,003 43,443 101,849 99,552
Interest expense:        
Repurchase agreements 19,269 6,981 27,612 15,451
Revolving credit facilities 9,106 7,075 14,782 11,770
Term notes payable 3,925 3,225 7,181 6,436
Convertible senior notes 4,801 7,126 9,843 13,476
Total interest expense 37,101 24,407 59,418 47,133
Net interest income 19,902 19,036 42,431 52,419
Other (loss) income:        
(Loss) gain on investment securities (197,719) (41,519) (250,061) 91,349
Servicing income 157,526 112,816 294,152 219,935
Gain (loss) on servicing asset 85,557 (268,051) 496,181 59,387
Gain (loss) on interest rate swap and swaption agreements 32,734 24,648 (5,307) 9,049
(Loss) gain on other derivative instruments (101,273) 51,312 (203,035) (224,699)
Other (loss) income (73) 41 (117) (5,701)
Total other (loss) income (23,248) (120,753) 331,813 149,320
Expenses:        
Servicing expenses 22,991 18,680 47,695 43,627
Compensation and benefits 11,019 11,259 23,212 19,447
Other operating expenses 9,152 7,218 15,777 14,705
Total expenses 43,162 37,157 86,684 77,779
(Loss) income before income taxes (46,508) (138,874) 287,560 123,960
Provision for (benefit from) income taxes 25,912 (20,914) 74,710 1,763
Net (loss) income (72,420) (117,960) 212,850 122,197
Dividends on preferred stock 13,748 13,747 27,495 30,963
Net (loss) income attributable to common stockholders $ (86,168) $ (131,707) $ 185,355 $ 91,234
Basic (loss) earnings per weighted average common share $ (0.25) $ (0.48) $ 0.54 $ 0.33
Diluted (loss) earnings per weighted average common share $ (0.25) $ (0.48) $ 0.51 $ 0.32
Weighted average basic common shares (in shares) 344,277,723 273,718,561 344,138,889 273,714,684
Weighted average diluted common shares (in shares) 344,277,723 273,718,561 384,341,891 305,999,203
Comprehensive loss:        
Net (loss) income $ (72,420) $ (117,960) $ 212,850 $ 122,197
Other comprehensive loss, net of tax:        
Unrealized loss on available-for-sale securities (4,211) (62,899) (336,056) (334,352)
Other comprehensive loss (4,211) (62,899) (336,056) (334,352)
Comprehensive loss (76,631) (180,859) (123,206) (212,155)
Dividends on preferred stock 13,748 13,747 27,495 30,963
Comprehensive loss attributable to common stockholders $ (90,379) $ (194,606) $ (150,701) $ (243,118)