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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues      
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables $ 1,831,964 $ 1,559,554 $ 1,642,272
Change in fair value of MSRs and MSR financing receivables (includes realization of cash flows of $(631,120), $(1,192,646) and $(1,583,628), respectively) 732,750 (575,353) (2,168,909)
Servicing revenue, net 2,564,714 984,201 (526,637)
Interest income 1,075,981 810,896 794,965
Gain on originated residential mortgage loans, held-for-sale, net 1,086,232 1,826,909 1,399,092
Total revenues 4,726,927 3,622,006 1,667,420
Expenses      
Interest expense and warehouse line fees 791,001 497,308 584,469
General and administrative 875,428 864,028 548,441
Compensation and benefits 1,231,446 1,159,810 571,646
Management fee to affiliate 46,174 95,926 89,134
Termination fee to affiliate 400,000 0 0
Total operating expenses 3,344,049 2,617,072 1,793,690
Other income (loss)      
Change in fair value of investments, net 1,108,290 11,723 (148,758)
Gain (loss) on settlement of investments, net (1,359,679) (234,561) (930,131)
Other income (loss), net 131,312 181,712 (135,609)
Total other income (loss) (120,077) (41,126) (1,214,498)
Income (loss) before income taxes 1,262,801 963,808 (1,340,768)
Income tax expense 279,516 158,226 16,916
Net income (loss) 983,285 805,582 (1,357,684)
Noncontrolling interests in income of consolidated subsidiaries 28,766 33,356 52,674
Dividends on preferred stock 89,726 66,744 54,295
Net income (loss) attributable to common stockholders - basic 864,793 705,482 (1,464,653)
Net income (loss) attributable to common stockholders - diluted $ 864,793 $ 705,482 $ (1,464,653)
Net income (loss) per share of common stock      
Basic (in dollars per share) $ 1.84 $ 1.56 $ (3.52)
Diluted (in dollars per share) $ 1.80 $ 1.51 $ (3.52)
Weighted average number of shares of common stock outstanding      
Basic (in shares) 468,836,718 451,276,742 415,513,187
Diluted (in shares) 481,636,125 467,665,006 415,513,187
Dividends declared per share of common stock (in dollars per share) $ 1.00 $ 0.90 $ 0.50