Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income (Unaudited)

v3.19.1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Income Statement [Abstract]    
Interest income $ 438,867 $ 383,573
Interest expense 212,832 124,387
Net interest income (expense) 226,035 259,186
Impairment    
Other-than-temporary impairment (OTTI) on securities 7,516 6,670
Valuation and loss provision (reversal) on loans and real estate owned (REO) 5,280 19,007
Total Impairment Charges 12,796 25,677
Net interest income after impairment 213,239 233,509
Servicing revenue, net 165,853 217,236
Gain on sale of originated mortgage loans, net 43,984 0
Other Income    
Change in fair value of investments in excess mortgage servicing rights 4,627 (45,691)
Change in fair value of investments in excess mortgage servicing rights, equity method investees 2,612 523
Change in fair value of investments in mortgage servicing rights financing receivables (36,379) 271,076
Change in fair value of servicer advance investments 7,903 (79,476)
Change in fair value of investments in residential mortgage loans 14,563 0
Change in fair value of derivative instruments (23,767) 2,446
Gain (loss) on settlement of investments, net (27,323) 103,302
Earnings from investments in consumer loans, equity method investees 4,311 4,806
Other income (loss), net 12,673 7,538
Other Income (40,780) 264,524
Operating Expenses    
General and administrative expenses 98,940 20,007
Management fee to affiliate 17,960 15,110
Incentive compensation to affiliate 12,958 14,589
Loan servicing expense 9,603 11,514
Subservicing expense 40,926 46,597
Total Operating Expenses 180,387 107,817
Income (Loss) Before Income Taxes 201,909 607,452
Income tax expense (benefit) 45,997 (6,912)
Net Income (Loss) 155,912 614,364
Noncontrolling Interests in Income of Consolidated Subsidiaries 10,318 10,111
Net income (loss) attributable to common stockholders $ 145,594 $ 604,253
Net Income Per Share of Common Stock    
Basic (in dollars per share) $ 0.37 $ 1.83
Diluted (in dollars per share) $ 0.37 $ 1.81
Weighted Average Number of Shares of Common Stock Outstanding    
Basic (in shares) 388,279,931 330,384,856
Diluted (in shares) 388,601,075 333,380,436
Dividend declared per Share of Common Stock (in dollars per share) $ 0.50 $ 0.50