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 Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Income Statement [Abstract]        
Interest income $ 22,999 $ 4,479 $ 39,190 $ 6,516
Interest expense 2,651    3,550   
Net Interest Income 20,348 4,479 35,640 6,516
Impairment (Reversal)        
Other-than-temporary impairment ("OTTI") on securities (3,756)    (3,756)   
Net interest income after impairment 16,592 4,479 31,884 6,516
Change in fair value of investments in excess mortgage servicing rights 41,833 3,523 43,691 4,739
Change in fair value of investments in excess mortgage servicing rights, equity method investees 20,127    21,096   
Earnings from investments in consumer loans, equity method investee 36,164    36,164   
Gain on settlement of securities 58    58   
Other Income 98,182 3,523 101,009 4,739
Expenses        
General and administrative expenses 602 1,266 3,321 1,677
Management fee allocated by Newcastle 1,809 262 4,134 416
Management fee to affiliate 2,263    2,263   
Incentive compensation to affiliate 878    878   
Total Expenses 5,552 1,528 10,596 2,093
Net Income $ 109,222 $ 6,474 $ 122,297 $ 9,162
Income Per Share of Common Stock        
Basic $ 0.43 $ 0.03 $ 0.48 $ 0.04
Diluted $ 0.42 $ 0.02 $ 0.47 $ 0.04
Weighted Average Number of Shares of Common Stock Outstanding        
Basic 253,025,645 253,025,645 253,025,645 253,025,645
Diluted 256,659,488 253,025,645 254,852,605 253,025,645
Dividends Declared per Share of Common Stock $ 0.07    $ 0.07