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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Total revenues $ 1,229,407 $ 1,110,339 $ 2,490,025 $ 1,935,127
Expenses        
Interest expense and warehouse line fees 465,944 324,235 875,771 628,450
General and administrative 207,123 181,918 404,317 349,397
Compensation and benefits 270,448 189,606 506,226 378,486
Total operating expenses 943,515 695,759 1,786,314 1,356,333
Other Income (Loss)        
Realized and unrealized gains (losses), net (14,769) 76,533 (59,615) 10,628
Other income (loss), net 19,042 (47,898) 26,968 (73,064)
Total other income (loss) 4,273 28,635 (32,647) (62,436)
Income (loss) before income taxes 290,165 443,215 671,064 516,358
Income tax expense (benefit) 51,648 56,530 145,060 39,724
Net income (loss) 238,517 386,685 526,004 476,634
Noncontrolling interests in income (loss) of consolidated subsidiaries 2,961 6,889 6,413 5,589
Dividends on preferred stock 22,395 22,395 44,790 44,790
Net income (loss) attributable to common stockholders - basic 213,161 357,401 474,801 426,255
Net income (loss) attributable to common stockholders - diluted $ 213,161 $ 357,401 $ 474,801 $ 426,255
Net Income (loss) per share of common stock        
Basic (in dollars per share) $ 0.44 $ 0.74 $ 0.98 $ 0.89
Diluted (in dollars per share) $ 0.43 $ 0.74 $ 0.97 $ 0.88
Weighted average number of shares of common stock outstanding        
Basic (in shares) 486,721,836 483,091,792 485,029,307 480,642,680
Diluted (in shares) 490,981,282 483,376,961 488,456,392 483,113,400
Dividends declared per share of common stock (in dollars per share) $ 0.25 $ 0.25 $ 0.50 $ 0.50
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables        
Revenues        
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate $ 498,978 $ 465,347 $ 968,869 $ 935,004
Change in fair value of MSRs and MSR financing receivables (includes realization of cash flows of $(165,138), $(139,410), $(281,977) and $(245,101), respectively)        
Revenues        
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate (67,898) 22,032 16,277 (120,272)
Servicing revenue, net        
Revenues        
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate 431,080 487,379 985,146 814,732
Interest income        
Revenues        
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate 478,653 385,167 908,539 715,190
Gain on originated residential mortgage loans, held-for-sale, net        
Revenues        
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate 153,741 178,584 296,199 287,852
Other revenues        
Revenues        
Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable and Corporate 56,500 59,209 114,848 117,353
Asset management revenues        
Revenues        
Total revenues $ 109,433 $ 0 $ 185,293 $ 0