v3.20.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Interest income $ 232,198 $ 416,047 $ 634,571 $ 854,914
Servicing revenue, net of change in fair value of $(441,033), $(334,599), $(1,090,408), and $(391,509), respectively (90,459) (85,537) (379,574) 80,316
Gain on originated mortgage loans, held-for-sale, net 310,022 101,018 489,720 168,188
Revenues 451,761 431,528 744,717 1,103,418
Expenses        
Interest expense 116,403 228,004 333,258 440,836
General and administrative expenses 217,373 118,906 423,736 217,846
Management fee to affiliate 22,479 19,623 44,200 37,583
Incentive compensation to affiliate 0 0 0 12,958
Loan servicing expense 7,149 9,372 15,002 18,975
Subservicing expense 73,132 53,962 140,113 94,888
Total operating expenses 436,536 429,867 956,309 823,086
Other Income (Loss)        
Change in fair value of investments 102,776 (26,642) (463,500) (57,746)
Gain (loss) on settlement of investments, net (74,966) 5,576 (874,538) (37,285)
Earnings from investments in consumer loans, equity method investees 0 (2,654) 0 1,657
Other income (loss), net (3,207) (2,227) (40,020) 3,461
Realized and unrealized gains (losses) 24,603 (25,947) (1,378,058) (89,913)
Impairment        
Provision (reversal) for credit losses on securities (25,134) 8,859 19,015 16,375
Valuation and credit loss provision (reversal) on loans and real estate owned (“REO”) 3,424 13,452 103,920 18,732
Total impairment charges (21,710) 22,311 122,935 35,107
Income (loss) before income taxes 61,538 (46,597) (1,712,585) 155,312
Income tax expense (benefit) 17,409 (21,577) (149,459) 24,420
Net income (loss) 44,129 (25,020) (1,563,126) 130,892
Noncontrolling Interests in Income of Consolidated Subsidiaries 38,640 6,923 22,478 17,241
Dividends on Preferred Stock 14,357 0 25,579 0
Net Income (Loss) Attributable to Common Stockholders $ (8,868) $ (31,943) $ (1,611,183) $ 113,651
Net Income (Loss) Per Share of Common Stock        
Basic (in dollars per share) $ (0.02) $ (0.08) $ (3.88) $ 0.28
Diluted (in dollars per share) $ (0.02) $ (0.08) $ (3.88) $ 0.28
Weighted Average Number of Shares of Common Stock Outstanding        
Basic (in shares) 415,661,782 415,463,757 415,625,468 401,946,938
Diluted (in shares) 415,661,782 415,463,757 415,625,468 402,239,438
Dividend declared per Share of Common Stock (in dollars per share) $ 0.10 $ 0.50 $ 0.15 $ 1.00

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