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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate                                    
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate revenues           $ 1,110,339 $ 824,788 $ 753,909 $ 903,604 $ 1,317,625 $ 1,716,306 $ 1,935,127 $ 3,033,302 $ 3,070,533   $ 3,679,506 $ 4,920,801 $ 3,728,562
Total revenues       $ 691,654 $ 1,135,405                     3,762,187 4,920,801 3,728,562
Expenses                                    
Interest expense and warehouse line fees       395,349 377,528 324,235 304,215 278,769 213,543 146,690 138,791 628,450 285,481 1,005,978 $ 499,024 1,401,327 777,793 497,308
General and administrative       192,380 190,691 181,918 167,479 189,646 215,075 225,758 246,664 349,397 472,422 540,088 687,497 732,469 877,143 865,801
Compensation and benefits       222,457 186,149 189,606 188,880 208,185 290,984 339,658 392,619 378,486 732,277 564,635 1,023,261 787,092 1,231,446 1,159,810
Management fee to affiliate                 0 20,985 25,189   46,174   46,174 0 46,174 95,926
Termination fee to affiliate                 0 400,000     400,000   400,000 0 400,000 0
Total operating expenses       810,186 754,368 695,759 660,574 676,600 719,602 1,133,091 803,263 1,356,333 1,936,354 2,110,701 2,655,956 2,920,888 3,332,556 2,618,845
Other income (loss)                                    
Realized and unrealized gains (losses), net       84,065 (114,149) 76,533 (65,905) 14,127 (30,970) (137,901) (72,655) 10,628 (209,927) (103,522) (240,898) (19,456) (180,059) (149,150)
Other income (loss), net       (2,834) 6,888 (47,898) (25,166) (3,650) 23,242 59,388 52,332 (73,064) 111,720 (66,176) 134,962 (69,010) (145,385) 3,241
Total other income (loss)       81,231 (107,261) 28,635 (91,071) 10,477 (7,728) (78,513) (20,323) (62,436) (98,207) (169,698) (105,936) (88,466) (325,444) (145,909)
Income (loss) before income taxes       (37,301) 273,776 443,215 73,143 87,786 176,274 106,021 892,720 516,358 998,741 790,134 1,175,015 752,833 1,262,801 963,808
Income tax expense       29,850 52,585 56,530 (16,806) (18,047) 22,084 72,690 202,789 39,724 275,479 92,309 297,563 122,159 279,516 158,226
Net income (loss)       (67,151) 221,191 386,685 89,949 105,833 154,190 33,331 689,931 476,634 723,262 697,825 877,452 630,674 983,285 805,582
Noncontrolling interests in income of consolidated subsidiaries       (2,020) 4,848 6,889 (1,300) 1,668 7,307 14,182 5,609 5,589 19,791 10,437 27,098 8,417 28,766 33,356
Dividends on preferred stock       22,395 22,394 22,395 22,395 22,411 22,427 22,427 22,461 44,790 44,888 67,184 67,315 89,579 89,726 66,744
Net income (loss) attributable to common stockholders - basic       $ (87,526) $ 193,949 $ 357,401 $ 68,854 $ 81,754 $ 124,456 $ (3,278) $ 661,861 $ 426,255 $ 658,583 $ 620,204 $ 783,039 $ 532,678 $ 864,793 $ 705,482
Net income (loss) per share of common stock                                    
Basic (in dollars per share)       $ (0.18) $ 0.40 $ 0.74 $ 0.14 $ 0.17 $ 0.27 $ (0.01) $ 1.42 $ 0.89 $ 1.41 $ 1.29 $ 1.68 $ 1.11 $ 1.84 $ 1.56
Diluted (in dollars per share)       $ (0.18) $ 0.40 $ 0.74 $ 0.14 $ 0.17 $ 0.26 $ (0.01) $ 1.37 $ 0.88 $ 1.36 $ 1.28 $ 1.62 $ 1.10 $ 1.80 $ 1.51
Weighted average number of shares of common stock outstanding                                    
Basic (in shares)       483,214,458 483,214,061 483,091,792 478,167,178 473,715,100 467,974,962 466,804,548 466,785,584 480,642,680 466,795,119 481,503,762 467,192,721 481,934,951 468,836,718 451,276,742
Diluted (in shares)       484,270,098 484,350,288 483,376,961 482,846,911 480,852,723 476,796,757 466,804,548 484,425,066 483,113,400 484,494,108 483,530,227 481,900,129 483,716,715 481,636,125 467,665,006
Dividends declared per share of common stock (in dollars per share) $ 0.25 $ 0.25 $ 0.25 $ 0.25 $ 0.25 $ 0.25 $ 0.25 $ 0.25 $ 0.25 $ 0.25 $ 0.25 $ 0.50 $ 0.50 $ 0.75 $ 0.75 $ 1.00 $ 1.00 $ 0.90
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables                                    
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate                                    
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate revenues       $ 481,928 $ 442,425 $ 465,347 $ 469,657 $ 452,758 $ 452,990 $ 469,342 $ 456,264 $ 935,004 $ 925,606 $ 1,377,429 $ 1,378,596 $ 1,859,357 $ 1,831,354 $ 1,558,823
Change in fair value of MSRs and MSR financing receivables (includes realization of cash flows of $(518,978), $(631,120) and $(1,192,646), respectively)                                    
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate                                    
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate revenues       (466,346) 20,934 22,032 (142,304) (162,028) (19,174) 334,690 575,393 (120,272) 909,454 (99,338) 890,281 (565,684) 727,334 (577,763)
Servicing revenue, net                                    
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate                                    
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate revenues       15,582 463,359 487,379 327,353 290,730 433,816 804,032 1,031,657 814,732 1,835,060 1,278,091 2,268,877 1,293,673 2,558,688 981,060
Interest income                                    
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate                                    
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate revenues       438,501 462,497 385,167 330,023 351,794 261,902 202,023 222,741 715,190 424,764 1,177,688 686,666 1,616,189 1,038,459 794,171
Gain on originated residential mortgage loans, held-for-sale, net                                    
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate                                    
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate revenues       96,395 149,230 178,584 109,268 $ 111,385 $ 207,886 $ 311,570 $ 461,908 287,852 $ 773,478 437,082 981,364 533,477 1,092,749 1,787,851
Other revenues                                    
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate                                    
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate revenues       58,495 $ 60,319 $ 59,209 $ 58,144         $ 117,353   $ 177,672 $ 3,936,907 236,167 230,905 165,480
Asset management revenues                                    
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate                                    
Total revenues       $ 82,681                       $ 82,681 $ 0 $ 0