Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

v3.24.1.u1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Net interest income (expense):    
Interest income $ 117,783 $ 116,593
Interest expense 160,000 142,490
Net interest (expense) income (42,217) (25,897)
Net Servicing Income [Abstract]    
Servicing income 166,333 153,320
Servicing costs 7,119 28,366
Net Servicing Income 159,214 124,954
Other income (loss):    
(Loss) gain on investment securities (10,975) 10,798
Gain (loss) on servicing asset 11,012 (28,079)
Gain (loss) on interest rate swap and swaption agreements 98,510 (82,154)
Gain (loss) on other derivative instruments 47,599 (155,771)
Other (loss) income (3) 0
Total other income (loss) 146,143 (255,206)
Expenses:    
Compensation and benefits 26,529 14,083
Other operating expenses 21,052 10,484
Total expenses 47,581 24,567
Income (loss) before income taxes 215,559 (180,716)
Provision for (benefit from) income taxes 11,971 (3,908)
Net income (loss) 203,588 (176,808)
Dividends on preferred stock (11,784) (12,365)
Gain on repurchase and retirement of preferred stock 644 0
Net income (loss) attributable to common stockholders $ 192,448 $ (189,173)
Basic earnings (loss) per weighted average common share $ 1.85 $ (2.05)
Diluted earnings (loss) per weighted average common share $ 1.73 $ (2.05)
Weighted average basic common shares (in shares) 103,401,940 92,575,840
Weighted average diluted common shares (in shares) 112,973,317 92,575,840
Comprehensive income (loss):    
Net income (loss) $ 203,588 $ (176,808)
Other comprehensive (loss) income:    
Unrealized (loss) gain on available-for-sale securities (103,078) 125,931
Other comprehensive (loss) income (103,078) 125,931
Comprehensive income (loss) 100,510 (50,877)
Dividends on preferred stock (11,784) (12,365)
Gain on repurchase and retirement of preferred stock 644 0
Comprehensive income (loss) attributable to common stockholders $ 89,370 $ (63,242)