QUARTERLY RESULTS (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2012

QUARTERLY RESULTS (UNAUDITED)

Schedule of unaudited selected financial data and operating information on a quarterly basis

The following table sets forth unaudited selected financial data and operating information on a quarterly basis for the years ended December 31, 2012 and 2011 (in thousands, except per share data):

	As of and for the year ended December 31, 2012
	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Gains from mortgage banking activities	$	79,407	$	53,400	$	33,934	$	19,802
Servicing fees		19,694		13,307		9,827		9,379
Total revenues		105,522		70,126		46,720		34,402
Personnel		47,860		32,173		17,363		11,641
Amortization and depreciation		15,076		9,595		6,743		7,259
Total expenses		86,133		58,348		31,611		24,908
Operating income		19,389		11,778		15,109		9,494
Net income		11,543		7,098		9,292		5,839
Diluted earnings per share		0.34		0.28		0.42		0.27
Total originations		2,909,952		2,180,795		1,336,982		674,456
Servicing portfolio	$	35,169,999	$	33,886,562	$	17,562,832	$	16,850,945

	As of and for the year ended December 31, 2011
	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Gains from mortgage banking activities	$	33,034	$	21,562	$	31,289	$	16,827
Servicing fees		9,064		8,757		8,047		7,713
Total revenues		47,591		33,356		42,406		28,997
Personnel		17,749		11,343		12,863		9,207
Amortization and depreciation		6,239		6,249		5,067		4,889
Total expenses		29,665		23,704		24,188		18,132
Operating income		17,926		9,652		18,218		10,865
Net income (loss)		11,015		6,079		11,131		6,639
Diluted earnings (loss) per share		0.50		0.28		0.51		0.31
Total originations		1,302,371		906,667		1,309,382		507,497
Servicing portfolio	$	16,778,285	$	15,940,799	$	15,425,904	$	14,856,510