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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest Income    
Residential loans $ 65,203 $ 43,655
Business purpose loans 94,299 64,188
Multifamily loans 4,753 4,786
Real estate securities 15,955 9,663
Other interest income 9,190 6,013
Total interest income 189,400 128,305
Interest Expense    
Short-term debt (11,488) (7,773)
Asset-backed securities issued (105,695) (72,561)
Long-term debt (19,115) (22,218)
Total interest expense (136,298) (102,552)
Net Interest Income 53,102 25,753
Non-interest Income    
Mortgage banking activities, net 16,315 82,607
Investment fair value changes, net (6,120) 45,087
Other income, net 5,983 3,843
Realized gains, net 2,581 2,716
Total non-interest income, net 18,759 134,253
General and administrative expenses (34,854) (43,551)
Loan acquisition costs (4,465) (3,559)
Other expenses (4,085) (4,096)
Net Income before Benefit from (Provision for) Income Taxes 28,457 108,800
Benefit from (provision for) income taxes 2,458 (11,543)
Net Income $ 30,915 $ 97,257
Basic earnings per common share (in dollars per share) $ 0.25 $ 0.84
Diluted earnings per common share (in dollars per share) $ 0.24 $ 0.72
Basic weighted average shares outstanding (in shares) 119,884,172 112,276,842
Diluted weighted average shares outstanding (in shares) 140,506,157 141,039,285