Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

v3.24.0.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Net interest income (expense):      
Interest income $ 480,364 $ 295,540 $ 168,597
Interest expense 643,225 258,395 89,173
Net interest (expense) income (162,861) 37,145 79,424
Net Servicing Income [Abstract]      
Servicing income 685,777 603,911 468,406
Servicing costs 95,488 94,119 86,250
Net Servicing Income 590,289 509,792 382,156
Other income (loss):      
(Loss) gain on investment securities (69,970) (603,937) 121,617
(Loss) gain on servicing asset (111,620) 425,376 (114,941)
(Loss) gain on interest rate swap and swaption agreements (52,946) 29,499 42,091
(Loss) gain on other derivative instruments (166,210) 9,310 (251,283)
Other income (loss) 5,103 (5) (3,845)
Total other loss (395,643) (139,757) (206,361)
Expenses:      
Compensation and benefits 52,865 40,723 35,041
Other operating expenses 62,313 42,005 28,759
Total expenses 115,178 82,728 63,800
(Loss) income before income taxes (83,393) 324,452 191,419
Provision for income taxes 22,978 104,213 4,192
Net (loss) income (106,371) 220,239 187,227
Dividends on preferred stock (48,607) (53,607) (58,458)
Gain on repurchase and retirement of preferred stock 2,973 20,149 0
Net (loss) income attributable to common stockholders $ (152,005) $ 186,781 $ 128,769
Basic (loss) earnings per weighted average common share $ (1.60) $ 2.15 $ 1.72
Diluted (loss) earnings per weighted average common share $ (1.60) $ 2.13 $ 1.72
Weighted average basic common shares (in shares) 95,672,143 86,179,418 74,443,000
Weighted average diluted common shares (in shares) 95,672,143 96,076,175 74,510,884
Comprehensive loss:      
Net (loss) income $ (106,371) $ 220,239 $ 187,227
Other comprehensive income (loss):      
Unrealized gain (loss) on available-for-sale securities 102,282 (465,057) (455,255)
Other comprehensive income (loss) 102,282 (465,057) (455,255)
Comprehensive loss (4,089) (244,818) (268,028)
Dividends on preferred stock (48,607) (53,607) (58,458)
Gain on repurchase and retirement of preferred stock 2,973 20,149 0
Comprehensive loss attributable to common stockholders $ (49,723) $ (278,276) $ (326,486)