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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Assets    
Cash and cash equivalents (includes pledged assets of $1,136,298 and $1,424,160 respectively) [1] $ 1,412,148 $ 1,576,714
Securities (includes pledged assets of $65,400,248 and $60,660,121, respectively) [2] 69,613,565 65,789,907
Loans, net (includes pledged assets of $2,082,419 and $1,653,464, respectively) [3] 2,353,084 1,809,832
Mortgage servicing rights (includes pledged assets of $1,781,279 and $684,703, respectively) 2,122,196 1,748,209
Assets transferred or pledged to securitization vehicles 13,307,622 9,121,912
Derivative assets 162,557 342,064
Receivable for unsettled trades 2,710,224 575,091
Principal and interest receivable 1,222,705 637,301
Intangible assets, net 12,106 16,679
Other assets 311,029 233,003
Total assets 93,227,236 81,850,712
Liabilities    
Repurchase agreements 62,201,543 59,512,597
Other secured financing 500,000 250,000
Debt issued by securitization vehicles 11,600,338 7,744,160
Participations issued 1,103,835 800,849
U.S. Treasury securities sold, not yet purchased 2,132,751 0
Derivative liabilities 302,295 204,172
Payable for unsettled trades 3,249,389 1,157,846
Interest payable 287,937 325,280
Dividends payable 325,052 412,113
Other liabilities 179,005 74,269
Total liabilities 81,882,145 70,481,286
Stockholders’ equity    
Preferred stock, par value $0.01 per share, 63,500,000 authorized, issued and outstanding 1,536,569 1,536,569
Common stock, par value $0.01 per share, 1,468,250,000 and 2,936,500,000 authorized, 500,080,287 and 468,309,810 issued and outstanding, respectively 5,001 4,683
Additional paid-in capital 23,672,391 22,981,320
Accumulated other comprehensive income (loss) (1,335,400) (3,708,896)
Total stockholders’ equity 11,255,793 11,270,443
Noncontrolling interests 89,298 98,983
Total equity 11,345,091 11,369,426
Accumulated deficit (12,622,768) (9,543,233)
Total liabilities and equity $ 93,227,236 $ 81,850,712
[1]
(1) Includes cash of consolidated Variable Interest Entities (“VIEs”) of $2.0 million and $2.2 million at December 31, 2023 and 2022, respectively.
[2]
(2) Excludes $1.5 billion and $1.0 billion at December 31, 2023 and 2022, respectively, of non-Agency mortgage-backed securities in consolidated VIEs pledged as collateral and eliminated from the Company’s Consolidated Statements of Financial Condition.
[3]
(3) Includes $1.2 million and $1.3 million of residential mortgage loans held for sale at December 31, 2023 and 2022, respectively.