v3.19.3.a.u2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Income Statement [Abstract]      
Interest income $ 1,766,130 $ 1,664,223 $ 1,519,679
Interest expense 933,751 606,433 460,865
Net Interest Income 832,379 1,057,790 1,058,814
Impairment      
Other-than-temporary impairment (OTTI) on securities 25,174 30,017 10,334
Valuation and loss provision, net on loans and real estate owned (REO) 10,403 60,624 75,758
Total Impairment Charges 35,577 90,641 86,092
Net interest income after impairment 796,802 967,149 972,722
Servicing revenue, net of change in fair value of $(712,950), $(191,245), and $(67,672), respectively 385,159 528,595 424,349
Gain on originated mortgage loans, held-for-sale, net 475,455 96,145 0
Other Income      
Change in fair value of investments in excess mortgage servicing rights (10,505) (58,656) 4,322
Change in fair value of investments in excess mortgage servicing rights, equity method investees 6,800 8,357 12,617
Change in fair value of investments in mortgage servicing rights financing receivables (189,023) 31,550 66,394
Change in fair value of servicer advance investments 10,288 (89,332) 84,418
Change in fair value of investments in residential mortgage loans (70,914) 69,820 0
Change in fair value of derivative investments (56,143) (108,234) (2,190)
Gain (loss) on settlement of investments, net 225,687 95,085 10,310
Earnings from investments in consumer loans, equity method investees (1,438) 10,803 25,617
Other income (loss), net 44,149 (10,778) 6,298
Total Other Income (41,099) (51,385) 207,786
Operating Expenses      
General and administrative expenses 538,035 231,579 67,159
Management fee to affiliate 79,472 62,594 55,634
Incentive compensation to affiliate 91,892 94,900 81,373
Loan servicing expense 31,737 43,547 52,330
Subservicing expense 227,482 176,784 166,081
Total Operating Expenses 968,618 609,404 422,577
Income (Loss) Before Income Taxes 647,699 931,100 1,182,280
Income tax (benefit) expense 41,766 (73,431) 167,628
Net Income (Loss) 605,933 1,004,531 1,014,652
Noncontrolling Interests in Income of Consolidated Subsidiaries 42,637 40,564 57,119
Dividends on Preferred Stock 13,281 0 0
Net income (loss) attributable to common stockholders $ 550,015 $ 963,967 $ 957,533
Net Income Per Share of Common Stock      
Basic (in dollars per share) $ 1.35 $ 2.82 $ 3.17
Diluted (in dollars per share) $ 1.34 $ 2.81 $ 3.15
Weighted Average Number of Shares of Common Stock Outstanding      
Basic (in shares) 408,789,642 341,268,923 302,238,065
Diluted (in shares) 408,990,107 343,137,361 304,381,388
Dividends declared per Share of Common Stock (in dollars per share) $ 2.00 $ 2.00 $ 1.98

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