Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME

v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest income:    
Available-for-sale securities $ 190,716 $ 135,327
Residential mortgage loans held-for-investment in securitization trusts 0 31,628
Residential mortgage loans held-for-sale 307 398
Other 2,996 1,801
Total interest income 194,019 169,154
Interest expense:    
Repurchase agreements 86,580 32,256
Collateralized borrowings in securitization trusts 0 25,386
Federal Home Loan Bank advances 4,458 8,793
Revolving credit facilities 804 429
Convertible senior notes 4,718 3,821
Total interest expense 96,560 70,685
Net interest income 97,459 98,469
Other-than-temporary impairments:    
Total other-than-temporary impairment losses (94) 0
Other income (loss):    
Loss on investment securities (20,671) (52,352)
Servicing income 71,190 39,773
Gain (loss) on servicing asset 71,807 (14,565)
Gain on interest rate swap and swaption agreements 150,545 9,927
Gain (loss) on other derivative instruments 8,053 (27,864)
Other income 1,058 9,496
Total other income (loss) 281,982 (35,585)
Expenses:    
Management fees 11,708 9,808
Servicing expenses 14,554 5,298
Other operating expenses 14,492 13,764
Total expenses 40,754 28,870
Income from continuing operations before income taxes 338,593 34,014
Provision for (benefit from) income taxes 3,784 (24,517)
Net income from continuing operations 334,809 58,531
Income from discontinued operations, net of tax 0 13,454
Net income 334,809 71,985
Dividends on preferred stock 13,747 0
Net income attributable to common stockholders $ 321,062 $ 71,985
Basic earnings per weighted average common share:    
Basic earnings from continuing operations per weighted average common share (in usd per share) $ 1.83 $ 0.33
Basic earnings from discontinued operations per weighted average common share (in usd per share) 0.00 0.08
Basic earnings per weighted average common share (in usd per share) 1.83 0.41
Diluted earnings per weighted average common share:    
Diluted earnings from continuing operations per weighted average common share (in usd per share) 1.69 0.33
Diluted earnings from discontinued operations per weighted average common share (in usd per share) 0.00 0.08
Diluted earnings per weighted average common share (in usd per share) 1.69 0.41
Dividends declared per common share (in usd per share) $ 0.47 $ 0.50
Weighted average basic common shares outstanding (in shares) 175,145,964 174,281,965
Weighted average diluted common shares outstanding (in shares) 192,818,531 174,281,965
Comprehensive (loss) income:    
Net income $ 334,809 $ 71,985
Other comprehensive (loss) income, net of tax:    
Unrealized (loss) gain on available-for-sale securities (344,777) 73,762
Other comprehensive (loss) income (344,777) 73,762
Comprehensive (loss) income (9,968) 145,747
Dividends on preferred stock 13,747 0
Comprehensive (loss) income attributable to common stockholders $ (23,715) $ 145,747