Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income (Unaudited)

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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Income Statement [Abstract]        
Interest income $ 403,805 $ 471,952 $ 787,378 $ 764,490
Interest expense 133,916 115,157 258,303 213,386
Net interest income (expense) 269,889 356,795 529,075 551,104
Impairment        
Other-than-temporary impairment (OTTI) on securities 12,631 5,115 19,301 7,227
Valuation and loss provision (reversal) on loans and real estate owned (REO) 3,658 20,771 22,665 38,681
Total Impairment Charges 16,289 25,886 41,966 45,908
Net interest income after impairment 253,600 330,909 487,109 505,196
Servicing revenue, net 146,193 170,851 363,429 211,453
Other Income        
Change in fair value of investments in excess mortgage servicing rights (5,276) (19,180) (50,967) (18,359)
Change in fair value of investments in excess mortgage servicing rights, equity method investees 1,705 4,246 2,228 4,002
Change in fair value of investments in mortgage servicing rights financing receivables (119,103) 5,596 151,973 5,596
Change in fair value of servicer advance investments (1,752) 56,969 (81,228) 59,528
Gain (loss) on settlement of investments, net 14,655 13,371 117,957 (303)
Earnings from investments in consumer loans, equity method investees 2,982 5,880 7,788 5,880
Other income (loss), net 9,977 (9,035) 19,961 (2,191)
Other Income (96,812) 57,847 167,712 54,153
Operating Expenses        
General and administrative expenses 20,575 16,042 40,582 27,869
Management fee to affiliate 15,453 14,186 30,563 27,260
Incentive compensation to affiliate 26,732 40,172 41,321 52,632
Loan servicing expense 11,035 13,002 22,549 26,378
Subservicing expense 45,958 55,958 92,555 73,662
Total Operating Expenses 119,753 139,360 227,570 207,801
Income (Loss) Before Income Taxes 183,228 420,247 790,680 563,001
Income tax expense (benefit) (2,608) 82,844 (9,520) 88,440
Net Income (Loss) 185,836 337,403 800,200 474,561
Noncontrolling Interests in Income of Consolidated Subsidiaries 11,078 15,671 21,189 31,451
Net income (loss) attributable to common stockholders $ 174,758 $ 321,732 $ 779,011 $ 443,110
Net Income Per Share of Common Stock        
Basic (in dollars per share) $ 0.52 $ 1.05 $ 2.34 $ 1.49
Diluted (in dollars per share) $ 0.51 $ 1.04 $ 2.32 $ 1.48
Weighted Average Number of Shares of Common Stock Outstanding        
Basic (in shares) 336,311,253 307,344,874 333,364,426 297,029,904
Diluted (in shares) 339,538,503 309,392,512 336,476,481 298,875,279
Dividend declared per Share of Common Stock (in dollars per share) $ 0.5 $ 0.5 $ 1 $ 0.98