XML 112 R102.htm IDEA: XBRL DOCUMENT v3.24.3
Segment Information - Statements of Income (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
segment
Segment Information        
Interest income $ 286,522 $ 336,474 $ 905,002 $ 1,000,159
Interest expense 197,710 229,180 624,613 675,749
Net interest income 88,812 107,294 280,389 324,410
Other revenue:        
Gain on sales, including fee-based services, net 18,638 18,619 52,752 55,795
Mortgage servicing rights 13,195 14,109 37,928 48,769
Servicing revenue 48,441 51,363 143,394 144,296
Amortization of MSRs (17,299) (15,900) (50,817) (46,920)
Property operating income 1,507 1,450 4,521 4,261
Gain (loss) on derivative instruments, net 822 (421) (4,711) (3,582)
Other income, net 2,537 173 6,955 5,099
Total other revenue 67,841 69,393 190,022 207,718
Other expenses:        
Employee compensation and benefits 44,881 39,810 135,411 123,518
Selling and administrative 13,141 12,367 39,897 38,574
Property operating expenses 1,686 1,479 4,948 4,227
Depreciation and amortization 1,944 2,286 6,937 7,297
Provision for loss sharing (net of recoveries) 3,180 1,679 7,787 12,528
Provision for credit losses (net of recoveries) 16,220 18,652 64,903 55,047
Total other expenses 81,052 76,273 259,883 241,191
Income before extinguishment of debt, sale of real estate, income from equity affiliates and income taxes 75,601 100,414 210,528 290,937
Loss on extinguishment of debt 0 (314) (412) (1,561)
Gain on sale of real estate 0 0 3,813 0
Income from equity affiliates 3,177 809 7,388 20,694
Benefit from (provision for) income taxes (5,233) (5,854) (12,726) (19,436)
Net income 73,545 95,055 208,591 290,634
Preferred stock dividends 10,342 10,342 31,027 31,027
Net income attributable to noncontrolling interest 5,028 6,789 14,119 21,200
Net income attributable to common stockholders 58,175 77,924 163,445 $ 238,407
Reporting segments | segment       2
Operating segments | Structured Business        
Segment Information        
Interest income 274,102 322,819 864,067 $ 962,301
Interest expense 192,945 222,996 608,607 658,856
Net interest income 81,157 99,823 255,460 303,445
Other revenue:        
Gain on sales, including fee-based services, net 0 0 0 0
Mortgage servicing rights 0 0 0 0
Servicing revenue 0 0 0 0
Amortization of MSRs 0 0 0 0
Property operating income 1,507 1,450 4,521 4,261
Gain (loss) on derivative instruments, net 0 0 0 0
Other income, net 1,364 751 5,641 3,420
Total other revenue 2,871 2,201 10,162 7,681
Other expenses:        
Employee compensation and benefits 16,772 12,912 51,123 41,991
Selling and administrative 6,345 5,291 18,969 17,835
Property operating expenses 1,686 1,479 4,948 4,227
Depreciation and amortization 1,422 1,114 4,070 3,779
Provision for loss sharing (net of recoveries) 0 0 0 0
Provision for credit losses (net of recoveries) 14,788 17,243 60,594 52,257
Total other expenses 41,013 38,039 139,704 120,089
Income before extinguishment of debt, sale of real estate, income from equity affiliates and income taxes 43,015 63,985 125,918 191,037
Loss on extinguishment of debt   (314) (412) (1,561)
Gain on sale of real estate     3,813  
Income from equity affiliates 3,177 809 7,388 20,694
Benefit from (provision for) income taxes 2,080 1,078 2,864 307
Net income 48,272 65,558 139,571 210,477
Preferred stock dividends 10,342 10,342 31,027 31,027
Net income attributable to noncontrolling interest 0 0 0 0
Net income attributable to common stockholders 37,930 55,216 108,544 179,450
Operating segments | Agency Business        
Segment Information        
Interest income 12,420 13,655 40,935 37,858
Interest expense 4,765 6,184 16,006 16,893
Net interest income 7,655 7,471 24,929 20,965
Other revenue:        
Gain on sales, including fee-based services, net 18,638 18,619 52,752 55,795
Mortgage servicing rights 13,195 14,109 37,928 48,769
Servicing revenue 48,441 51,363 143,394 144,296
Amortization of MSRs (17,299) (15,900) (50,817) (46,920)
Property operating income 0 0 0 0
Gain (loss) on derivative instruments, net 822 (421) (4,711) (3,582)
Other income, net 1,173 (578) 1,314 1,679
Total other revenue 64,970 67,192 179,860 200,037
Other expenses:        
Employee compensation and benefits 28,109 26,898 84,288 81,527
Selling and administrative 6,796 7,076 20,928 20,739
Property operating expenses 0 0 0 0
Depreciation and amortization 522 1,172 2,867 3,518
Provision for loss sharing (net of recoveries) 3,180 1,679 7,787 12,528
Provision for credit losses (net of recoveries) 1,432 1,409 4,309 2,790
Total other expenses 40,039 38,234 120,179 121,102
Income before extinguishment of debt, sale of real estate, income from equity affiliates and income taxes 32,586 36,429 84,610 99,900
Loss on extinguishment of debt   0 0 0
Gain on sale of real estate     0  
Income from equity affiliates 0 0 0 0
Benefit from (provision for) income taxes (7,313) (6,932) (15,590) (19,743)
Net income 25,273 29,497 69,020 80,157
Preferred stock dividends 0 0 0 0
Net income attributable to noncontrolling interest 0 0 0 0
Net income attributable to common stockholders 25,273 29,497 69,020 80,157
Other/Eliminations        
Other expenses:        
Net income attributable to noncontrolling interest 5,028 6,789 14,119 21,200
Net income attributable to common stockholders $ (5,028) $ (6,789) $ (14,119) $ (21,200)