v3.20.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Interest income $ 233,848 $ 448,127 $ 868,419 $ 1,303,041
Servicing revenue, net of change in fair value of $(395,064), $(228,405), $(1,485,472), and $(619,914), respectively (43,929) 53,050 (459,313) 133,366
Gain on originated mortgage loans, held-for-sale, net 495,098 126,747 984,818 294,935
Revenues 685,017 627,924 1,393,924 1,731,342
Expenses        
Interest expense 130,528 245,902 463,786 686,738
General and administrative expenses 316,560 193,580 859,601 525,289
Management fee to affiliate 22,482 20,678 66,682 58,261
Incentive compensation to affiliate 0 36,307 0 49,265
Total operating expenses 469,570 496,467 1,390,069 1,319,553
Other Income (Loss)        
Change in fair value of investments 89,092 2,212 (374,408) (55,534)
Gain (loss) on settlement of investments, net (94,457) 133,670 (968,995) 96,385
Earnings from investments in consumer loans, equity method investees 0 (2,547) 0 (890)
Other income (loss), net 5,385 (30,695) (34,635) (27,234)
Realized and unrealized gains (losses) 20 102,640 (1,378,038) 12,727
Impairment        
Provision (reversal) for credit losses on securities (3,849) 5,567 15,166 21,942
Valuation and credit loss provision (reversal) on loans and real estate owned (“REO”) 14,584 (10,690) 118,504 8,042
Total impairment charges 10,735 (5,123) 133,670 29,984
Income (Loss) Before Income Taxes 204,732 239,220 (1,507,853) 394,532
Income tax expense (benefit) 100,812 (5,440) (48,647) 18,980
Net income (loss) 103,920 244,660 (1,459,206) 375,552
Noncontrolling Interests in Income of Consolidated Subsidiaries 11,640 14,738 34,118 31,979
Dividends on Preferred Stock 14,359 5,338 39,938 5,338
Net Income (Loss) Attributable to Common Stockholders $ 77,921 $ 224,584 $ (1,533,262) $ 338,235
Net Income (Loss) Per Share of Common Stock        
Basic (in dollars per share) $ 0.19 $ 0.54 $ (3.69) $ 0.83
Diluted (in dollars per share) $ 0.19 $ 0.54 $ (3.69) $ 0.83
Weighted Average Number of Shares of Common Stock Outstanding        
Basic (in shares) 415,744,518 415,520,780 415,665,441 406,521,273
Diluted (in shares) 420,968,626 415,588,238 415,665,441 406,671,972
Dividend declared per Share of Common Stock (in dollars per share) $ 0.15 $ 0.50 $ 0.30 $ 1.50

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