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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables $ 469,478 $ 356,176 $ 925,878 $ 704,460
Change in fair value of MSRs and MSR financing receivables (includes realization of cash flows of $(180,265), $(297,778), $(380,590), $(637,448), respectively) 336,563 (417,983) 911,956 (225,709)
Servicing revenue, net 806,041 (61,807) 1,837,834 478,751
Interest income 211,648 201,762 437,061 402,709
Gain on originated residential mortgage loans, held-for-sale, net 304,791 286,885 776,787 690,333
Total revenues 1,322,480 426,840 3,051,682 1,571,793
Expenses        
Interest expense and warehouse line fees 150,829 106,539 289,662 225,444
General and administrative 225,271 172,986 471,509 336,847
Compensation and benefits 339,658 194,730 732,277 393,374
Management fee to affiliate 20,985 23,677 46,174 45,839
Termination fee to affiliate 400,000 0 400,000 0
Total operating expenses 1,136,743 497,932 1,939,622 1,001,504
Other Income (Loss)        
Change in fair value of investments, net (234,040) 229,900 (381,159) (9,888)
Gain (loss) on settlement of investments, net 94,936 (78,611) 156,120 (90,603)
Other income (loss), net 59,388 64,452 111,720 74,446
Total other income (loss) (79,716) 215,741 (113,319) (26,045)
Income Before Income Taxes 106,021 144,649 998,741 544,244
Income tax expense (benefit) 72,690 (1,077) 275,479 97,182
Net income (loss) 33,331 145,726 723,262 447,062
Noncontrolling interests in income of consolidated subsidiaries 14,182 10,053 19,791 19,447
Dividends on preferred stock 22,427 14,358 44,888 28,716
Net income (loss) attributable to common stockholders - basic (3,278) 121,315 658,583 398,899
Net Income (Loss) Attributable to Common Stockholders - diluted $ (3,278) $ 121,315 $ 658,583 $ 398,899
Net Income (Loss) Per Share of Common Stock        
Basic (in dollars per share) $ (0.01) $ 0.27 $ 1.41 $ 0.92
Diluted (in dollars per share) $ (0.01) $ 0.26 $ 1.36 $ 0.88
Weighted Average Number of Shares of Common Stock Outstanding        
Basic (in shares) 466,804,548 456,312,486 466,795,119 435,668,683
Diluted (in shares) 466,804,548 472,729,245 484,494,108 451,229,665
Dividend declared per Share of Common Stock (in dollars per share) $ 0.25 $ 0.20 $ 0.50 $ 0.40