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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues    
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables $ 469,839 $ 456,400
Change in fair value of MSRs and MSR financing receivables (includes realization of cash flows of $(105,691) and $(200,325), respectively) (142,304) 575,393
Servicing revenue, net 327,535 1,031,793
Interest income 346,614 225,413
Gain on originated residential mortgage loans, held-for-sale, net 109,268 471,996
Total revenues 783,417 1,729,202
Expenses    
Interest expense and warehouse line fees 309,068 138,833
General and administrative 167,155 246,238
Compensation and benefits 188,880 392,619
Management fee 0 25,189
Total operating expenses 665,103 802,879
Other Income (Loss)    
Realized and unrealized gains (losses) on investments, net (75,649) (85,935)
Other income (loss), net 30,478 52,332
Total other income (loss) (45,171) (33,603)
Income (loss) before income taxes 73,143 892,720
Income tax expense (benefit) (16,806) 202,789
Net income (loss) 89,949 689,931
Noncontrolling interests in income (loss) of consolidated subsidiaries (1,300) 5,609
Dividends on preferred stock 22,395 22,461
Net Income Attributable to Common Stockholders - basic 68,854 661,861
Net Income Attributable to Common Stockholders - diluted $ 68,854 $ 661,861
Net Income Per Share of Common Stock    
Basic (in dollars per share) $ 0.14 $ 1.42
Diluted (in dollars per share) $ 0.14 $ 1.37
Weighted Average Number of Shares of Common Stock Outstanding    
Basic (in shares) 478,167,178 466,785,584
Diluted (in shares) 482,846,911 484,425,066
Dividends Declared per Share of Common Stock (in dollars per share) $ 0.25 $ 0.25