v3.22.1
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenues    
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables $ 456,400 $ 348,284
Change in fair value of MSRs and MSR financing receivables (includes realization of cash flows of $(200,325) and $(339,670), respectively) 575,393 192,274
Servicing revenue, net 1,031,793 540,558
Interest income 225,413 200,947
Gain on originated residential mortgage loans, held-for-sale, net 471,996 403,448
Total revenues 1,729,202 1,144,953
Expenses    
Interest expense and warehouse line fees 138,833 118,905
General and administrative 246,238 163,861
Compensation and benefits 392,619 198,644
Management fee to affiliate 25,189 22,162
Total operating expenses 802,879 503,572
Other Income (Loss)    
Change in fair value of investments (147,119) (239,788)
Gain (loss) on settlement of investments, net 61,184 (11,992)
Other income (loss), net 56,072 (9,613)
Total other income (loss) (29,863) (261,393)
Impairment    
Provision (reversal) for credit losses on securities 711 (894)
Valuation and credit loss provision (reversal) on loans and real estate owned 3,029 (18,713)
Total impairment charges 3,740 (19,607)
Income Before Income Taxes 892,720 399,595
Income tax expense (benefit) 202,789 98,259
Net income (loss) 689,931 301,336
Noncontrolling interests in income of consolidated subsidiaries 5,609 9,394
Dividends on preferred stock 22,461 14,358
Net income (loss) attributable to common stockholders - diluted 661,861 277,584
Net income (loss) attributable to common stockholders - basic $ 661,861 $ 277,584
Net Income Per Share of Common Stock    
Basic (in dollars per share) $ 1.42 $ 0.67
Diluted (in dollars per share) $ 1.37 $ 0.65
Weighted Average Number of Shares of Common Stock Outstanding    
Basic (in shares) 466,785,584 414,795,505
Diluted (in shares) 484,425,066 429,491,379
Dividend declared per Share of Common Stock (in dollars per share) $ 0.25 $ 0.20

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