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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) EARNINGS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues:        
Gain on sale of loans, net $ 13,673 $ 42,476 $ 53,896 $ 116,602
Servicing fees, net 10,124 8,492 29,445 23,575
Gain (loss) on mortgage servicing rights, net (5,192) (10,513) 2,682 (18,159)
Real estate services fees, net 711 1,355 3,134 4,492
Other 71 266 278 541
Total revenues 19,387 42,076 89,435 127,051
Expenses:        
Personnel expense 16,061 23,062 50,481 69,353
Business promotion 4,351 10,403 23,082 30,744
General, administrative and other 7,897 8,497 27,018 24,845
Intangible asset impairment 4,897   18,347  
Goodwill impairment 29,925   104,587  
Accretion of contingent consideration   396   1,948
Change in fair value of contingent consideration   (4,798)   (11,052)
Total expenses 63,131 37,560 223,515 115,838
Operating (loss) income (43,744) 4,516 (134,080) 11,213
Other income (expense):        
Interest income 45,888 57,854 145,103 180,011
Interest expense (45,477) (56,308) (143,126) (176,921)
Loss on extinguishment of debt       (1,265)
Change in fair value of long-term debt (785) 104 697 (2,657)
Change in fair value of net trust assets, including trust REO gains (1,315) (1,745) (3,236) 6,578
Total other income, net (1,689) (95) (562) 5,746
(Loss) earnings before income taxes (45,433) 4,421 (134,642) 16,959
Income tax expense 12 2,104 4,328 3,575
Net (loss) earnings (45,445) 2,317 (138,970) 13,384
Other comprehensive (loss) earnings:        
Change in fair value of instrument specific credit risk 25   (1,940)  
Total comprehensive (loss) earnings $ (45,420) $ 2,317 $ (140,910) $ 13,384
(Loss) earnings per common share:        
Basic (in dollars per share) $ (2.16) $ 0.11 $ (6.62) $ 0.71
Diluted (in dollars per share) $ (2.16) $ 0.11 $ (6.62) $ 0.71
Real Estate        
Revenues:        
Real estate services fees, net $ 711 $ 1,355 $ 3,134 $ 4,492