CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands		Dec. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents (includes pledged assets of $1,202,880 and $1,136,298 respectively)	[1]	$ 1,488,027	$ 1,412,148
Securities (includes pledged assets of $67,692,062 and $65,400,248, respectively)	[2]	69,756,447	69,613,565
Loans, net (includes pledged assets of $2,754,028 and $2,082,419, respectively)	[3]	3,546,902	2,353,084
Mortgage servicing rights (includes pledged assets of $2,460,252 and $1,781,279, respectively)		2,909,134	2,122,196
Assets transferred or pledged to securitization vehicles		21,973,188	13,307,622
Derivative assets		225,351	162,557
Receivable for unsettled trades		2,201,447	2,710,224
Principal and interest receivable		1,069,038	1,222,705
Intangible assets, net		9,416	12,106
Other assets		377,434	311,029
Total assets		103,556,384	93,227,236
Liabilities
Repurchase agreements		65,688,923	62,201,543
Other secured financing		750,000	500,000
Debt issued by securitization vehicles		19,540,678	11,600,338
Participations issued		1,154,816	1,103,835
U.S. Treasury securities sold, not yet purchased		2,470,629	2,132,751
Derivative liabilities		59,586	302,295
Payable for unsettled trades		308,282	3,249,389
Interest payable		268,317	287,937
Dividends payable		375,932	325,052
Other liabilities		242,269	179,005
Total liabilities		90,859,432	81,882,145
Stockholders’ equity
Preferred stock, par value $0.01 per share, 63,500,000 authorized, issued and outstanding		1,536,569	1,536,569
Common stock, par value $0.01 per share, 1,468,250,000 authorized, 578,357,118 and 500,080,287 issued and outstanding, respectively		5,784	5,001
Additional paid-in capital		25,257,716	23,672,391
Accumulated other comprehensive income (loss)		(1,017,682)	(1,335,400)
Total stockholders’ equity		12,609,241	11,255,793
Noncontrolling interests		87,711	89,298
Total equity		12,696,952	11,345,091
Accumulated deficit		(13,173,146)	(12,622,768)
Total liabilities and equity		$ 103,556,384	$ 93,227,236
Common Stock, shares authorized (in shares)		1,468,250,000	1,468,250,000

[1] (1) Includes cash of consolidated Variable Interest Entities (“VIEs”) of $2.8 million and $2.0 million at December 31, 2024 and 2023, respectively.

[2] (2) Excludes $2.2 billion and $1.5 billion at December 31, 2024 and 2023, respectively, of non-Agency mortgage-backed securities in consolidated VIEs pledged as collateral and eliminated from the Company’s Consolidated Statements of Financial Condition.

[3] (3) Includes $10.0 million and $1.2 million of residential mortgage loans held for sale at December 31, 2024 and 2023, respectively.