Quarter ended June 30,

Six months ended June 30,

2023

2022

2023

2022

(in thousands)

Interest income:

Cash and short-term investments

$

21,127

$

405

$

37,372

$

977

Loans held for sale at fair value

78,780

36,777

139,773

85,890

Placement fees relating to custodial funds

73,024

12,682

124,243

16,879

From Townsgate Closing Services, LLC

21

—

42

—

172,952

49,864

301,430

103,746

Interest expense:

Assets sold under agreements to repurchase

87,480

18,949

146,703

42,719

Mortgage loan participation purchase and sale agreements

4,462

1,377

7,385

2,497

Obligations under capital lease

—

5

—

20

Notes payable secured by mortgage servicing assets

53,817

13,656

94,595

23,565

Unsecured senior notes

23,688

47,116

Interest shortfall on repayments of mortgage loans serviced for Agency securitizations

6,714

12,286

9,924

29,765

Interest on mortgage loan impound deposits

2,225

1,166

4,192

2,752

Other

256

—

498

—

178,642

71,127

310,413

148,434

$

(5,690)

$

(21,263)

$

(8,983)

$

(44,688)