Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income (Unaudited)

v3.2.0.727
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Income Statement [Abstract]        
Interest income $ 178,177 $ 92,656 $ 262,550 $ 164,146
Interest expense 81,871 36,512 115,850 75,509
Net interest income (expense) 96,306 56,144 146,700 88,637
Impairment        
Other-than-temporary impairment (“OTTI”) on securities 649 615 1,720 943
Valuation provision on loans and real estate owned 4,772 293 5,749 457
Total Impairment Charges 5,421 908 7,469 1,400
Net interest income after impairment 90,885 55,236 139,231 87,237
Other Income        
Change in fair value of investments in excess mortgage servicing rights 356 5,502 (1,405) 12,104
Change in fair value of investments in excess mortgage servicing rights, equity method investees 3,095 12,743 8,016 19,117
Change in fair value of investments in servicer advances 24,562 82,877 16,893 82,877
Earnings from investments in consumer loans, equity method investees 0 21,335 0 37,695
Gain on settlement of investments, net 1,201 52,539 15,968 56,896
Other income (loss), net 8,436 2,893 10,473 4,250
Other Income 37,650 177,889 49,945 212,939
Operating Expenses        
General and administrative expenses 21,239 5,397 29,799 7,383
Management fee to affiliate 8,371 4,915 13,497 9,401
Incentive compensation to affiliate 2,391 18,863 6,084 22,201
Loan servicing expense 2,951 347 7,842 436
Total Operating Expenses 34,952 29,522 57,222 39,421
Income (Loss) Before Income Taxes 93,583 203,603 131,954 260,755
Income tax expense (benefit) 14,306 21,395 10,879 21,682
Net Income (Loss) 79,277 182,208 121,075 239,073
Noncontrolling Interests in Income of Consolidated Subsidiaries 4,158 58,705 9,981 66,798
Net Income Attributable to Common Stockholders $ 75,119 $ 123,503 $ 111,094 $ 172,275
Net Income Per Share of Common Stock        
Basic (in dollars per share) $ 0.37 $ 0.91 $ 0.65 $ 1.31
Diluted (in dollars per share) $ 0.37 $ 0.88 $ 0.63 $ 1.28
Weighted Average Number of Shares of Common Stock Outstanding        
Basic (in shares) 200,910,040 136,465,454 171,336,768 131,562,222
Diluted (in shares) 205,169,099 139,668,128 175,206,662 134,790,790
Dividend declared per share (in dollars per share) $ 0.45 $ 0.5 $ 0.83 $ 0.85