EXPENSES, CHANGE IN FAIR VALUE OF INVESTMENTS AND OTHER (Tables)

3 Months Ended

Mar. 31, 2022

Other Income and Expenses [Abstract]

Schedule of General and Administrative Expenses

General and Administrative expenses consists of the following:

	Three Months Ended March 31,
	2022		2021
Legal and professional	$	28,586	$	18,219
Loan origination	39,901		40,245
Occupancy	29,777		10,350
Subservicing	46,808		48,839
Loan servicing	5,304		5,679
Property and maintenance	23,603		12,130
Other	72,259		28,399
Total general and administrative expenses	$	246,238	$	163,861

Schedule of Change in Fair Value of Investments

Change in Fair Value of Investments consists of the following:

	Three Months Ended March 31,
	2022		2021
Excess MSRs	$	(2,630)	$	(4,618)
Excess MSRs, equity method investees	1,703		3,165
Servicer advance investments	(483)		(371)
Real estate and other securities	(605,295)		(498,339)
Residential mortgage loans	(106,920)		60,174
Consumer loans	(13,733)		(6,004)
Mortgage loans receivable	5,542		—
Derivative instruments	574,697		206,205
Total change in fair value of investments	$	(147,119)	$	(239,788)

Schedule of Gain (Loss) on Settlement of Investments

Gain (Loss) on Settlement of Investments, Net consists of the following:

	Three Months Ended March 31,
	2022		2021
Gain (loss) on sale of real estate securities	$	(1,557)	$	(983)
Sale of acquired residential mortgage loans	50,419		30,399
Settlement of derivatives	47,475		(27,373)
Liquidated residential mortgage loans	(29,932)		897
Sale of REO	(2,090)		(3,946)
Extinguishment of debt	—		(6)
Other	(3,131)		(10,980)
Total gain (loss) on settlement of investments, net	$	61,184	$	(11,992)

Schedule of Other Income

Other Income (Loss), Net consists of the following:

	Three Months Ended March 31,
	2022		2021
Unrealized gain (loss) on secured notes and bonds payable	$	7,194	$	(4,422)
Rental revenue	8,129		5,827
Property and maintenance revenue	34,305		19,906
Other income (loss)	6,444		(30,924)
Total other income (loss), net	$	56,072	$	(9,613)

Schedule of Accretion of Discount and Other Amortization

Accretion and Other Amortization as reflected on the Consolidated Statements of Cash Flows consists of the following:

	Three Months Ended March 31,
	2022		2021
Accretion of net discount on securities and loans	$	5,293	$	12,007
Accretion of servicer advances receivable discount and servicer advance investments	4,156		6,848
Accretion of excess mortgage servicing rights income	13,017		12,231
Amortization of deferred financing costs	(6,921)		(4,601)
Amortization of discount on secured notes and bonds payable	—		(1)
Amortization of discount on corporate debt	(450)		(450)
Total accretion and other amortization	$	15,095	$	26,034