Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Net interest income (expense):        
Interest income $ 112,642 $ 123,608 $ 346,378 $ 357,963
Interest expense 154,931 173,094 469,138 475,145
Net interest expense (42,289) (49,486) (122,760) (117,182)
Net servicing income:        
Servicing income 171,732 178,625 514,080 507,168
Servicing costs 3,900 29,903 15,494 83,459
Net servicing income 167,832 148,722 498,586 423,709
Other (loss) income:        
Gain (loss) on investment securities 1,383 (471) (32,029) 12,499
(Loss) gain on servicing asset (133,349) 67,369 (145,194) 60,969
(Loss) gain on interest rate swap and swaption agreements (172,263) 111,909 (51,741) 86,288
(Loss) gain on other derivative instruments (32,722) 86,212 14,127 (22,398)
Gain on mortgage loans held-for-sale 927 0 924 0
Other income 123 2,903 349 5,103
Total other (loss) income (335,901) 267,922 (213,564) 142,461
Expenses:        
Compensation and benefits 20,180 8,617 67,953 31,568
Other operating expenses 18,405 15,984 57,156 38,354
Total expenses 38,585 24,601 125,109 69,922
(Loss) income before income taxes (248,943) 342,557 37,153 379,066
(Benefit from) provision for income taxes (10,458) 36,365 15,714 52,237
Net (loss) income (238,485) 306,192 21,439 326,829
Dividends on preferred stock (11,784) (12,115) (35,352) (36,595)
Gain on repurchase and retirement of preferred stock 0 0 644 2,454
Net (loss) income attributable to common stockholders $ (250,269) $ 294,077 $ (13,269) $ 292,688
Basic (loss) earnings per weighted average common share (in dollars per share) $ (2.42) $ 3.04 $ (0.14) $ 3.06
Diluted (loss) earnings per weighted average common share (in dollars per share) $ (2.42) $ 2.81 $ (0.14) $ 2.91
Comprehensive income (loss):        
Net (loss) income $ (238,485) $ 306,192 $ 21,439 $ 326,829
Other comprehensive income (loss):        
Unrealized gain (loss) on available-for-sale securities 269,621 (350,922) 122,470 (381,297)
Other comprehensive income (loss) 269,621 (350,922) 122,470 (381,297)
Comprehensive income (loss) 31,136 (44,730) 143,909 (54,468)
Dividends on preferred stock (11,784) (12,115) (35,352) (36,595)
Gain on repurchase and retirement of preferred stock 0 0 644 2,454
Comprehensive income (loss) attributable to common stockholders $ 19,352 $ (56,845) $ 109,201 $ (88,609)