Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Income Statement [Abstract]        
Interest income $ 92,656 $ 22,999 $ 164,146 $ 39,190
Interest expense 36,512 2,651 75,509 3,550
Net Interest Income 56,144 20,348 88,637 35,640
Impairment        
Other-than-temporary impairment (OTTI) on securities 615 3,756 943 3,756
Valuation provision on loans 293 0 457 0
Impairment 908 3,756 1,400 3,756
Net interest income after impairment 55,236 16,592 87,237 31,884
Other Income        
Change in fair value of investments in excess mortgage servicing rights 5,502 41,833 12,104 43,691
Change in fair value of investments in excess mortgage servicing rights, equity method investees 12,743 20,127 19,117 21,096
Change in fair value of investments in servicer advances 82,877 0 82,877 0
Earnings from investments in consumer loans, equity method investees 21,335 36,164 37,695 36,164
Gain on settlement of investments 52,539 58 56,896 58
Other income 2,893 0 4,250 0
Other Income 177,889 98,182 212,939 101,009
Operating Expenses        
General and administrative expenses 5,744 602 7,819 3,321
Management fee allocated by Newcastle 0 1,809 0 4,134
Management fee to affiliate 4,915 2,263 9,401 2,263
Incentive compensation to affiliate 18,863 878 22,201 878
Operating Expenses 29,522 5,552 39,421 10,596
Income (Loss) Before Income Taxes 203,603 109,222 260,755 122,297
Income tax expense 21,395 0 21,682 0
Net Income (Loss) 182,208 109,222 239,073 122,297
Noncontrolling interests in Income (Loss) of Consolidated Subsidiaries 58,705 0 66,798 0
Net Income (Loss) Attributable to Common Stockholders $ 123,503 $ 109,222 $ 172,275 $ 122,297
Net Income Per Share of Common Stock        
Basic (in usd per share) $ 0.45 $ 0.43 $ 0.65 $ 0.48
Diluted (in usd per share) $ 0.44 $ 0.43 $ 0.64 $ 0.48
Weighted Average Number of Shares of Common Stock Outstanding        
Basic (in shares) 272,930,907 253,025,645 263,124,444 253,025,645
Diluted (in shares) 279,336 256,659 269,582 254,853
Dividends Declared per Share of Common Stock $ 0.25 $ 0.07 $ 0.425 $ 0.07