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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Pledged assets included in cash and cash equivalents $ 1,683,059 $ 1,202,880
Pledged assets, securities [1] 91,287,630 69,756,447
Pledged assets, loans, net [2] 5,020,784 3,546,902
Pledged assets, mortgage servicing rights $ 3,645,865 $ 2,909,134
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 75,000,000 63,500,000
Preferred Stock, shares issued (in shares) 74,500,000 63,500,000
Preferred Stock, shares outstanding (in shares) 74,500,000 63,500,000
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 1,456,750,000 1,468,250,000
Common stock, shares issued (in shares) 706,972,452 578,357,118
Common stock, shares outstanding (in shares) 706,972,452 578,357,118
Asset Pledged as Collateral    
Pledged assets, securities $ 82,809,634 $ 67,692,062
Pledged assets, loans, net 4,590,517 2,754,028
Pledged assets, mortgage servicing rights 3,541,414 2,460,252
Consolidated VIEs    
Cash and cash equivalents, variable interest entities 4,100 2,800
Non-Agency mortgage-backed securities    
Estimated fair value 1,445,176 1,493,186
Non-Agency mortgage-backed securities | Consolidated VIEs    
Estimated fair value 3,100,000 2,200,000
Residential mortgage loans    
Loans held-for-sale $ 37,100 $ 10,000
[1]
(2) Excludes $3.1 billion and $2.2 billion at December 31, 2025 and 2024, respectively, of non-Agency mortgage-backed securities in consolidated VIEs pledged as collateral and eliminated from the Company’s Consolidated Statements of Financial Condition.
[2]
(3) Includes $37.1 million and $10.0 million of residential mortgage loans held for sale at December 31, 2025 and 2024, respectively.