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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Assets:    
Residential whole loans, at carrying value ($3,843,153 and $4,847,782 pledged as collateral, respectively) $ 4,195,332 $ 6,069,370 [1]
Residential whole loans, at fair value ($705,666 and $794,684 pledged as collateral, respectively) 1,216,902 1,381,583
Allowance for credit losses on residential whole loans held at carrying value (86,833) (3,025)
Total residential whole loans, net 5,325,401 7,447,928
Residential mortgage securities, at fair value ($161,000 and $3,966,591 pledged as collateral, respectively) 161,000 3,983,519
Mortgage servicing rights (“MSR”) related assets ($238,999 and $1,217,002 pledged as collateral, respectively) 238,999 1,217,002
Cash and cash equivalents 814,354 70,629
Restricted cash 7,165 64,035
Other assets 385,381 785,057
Total Assets 6,932,300 13,568,170
Liabilities:    
Financing agreements ($3,366,772 and $0 held at fair value, respectively) 4,336,976 10,031,606
Other liabilities 70,522 152,612
Total Liabilities 4,407,498 10,184,218
Commitments and contingencies (See Note 10)
Stockholders’ Equity:    
Common stock, $0.01 par value; 874,300 and 886,950 shares authorized; 451,714 and 452,369 shares issued and outstanding, respectively 4,517 4,524
Additional paid-in capital, in excess of par 3,848,129 3,640,341
Accumulated deficit (1,405,327) (631,040)
Accumulated other comprehensive income 77,293 370,047
Total Stockholders’ Equity 2,524,802 3,383,952
Total Liabilities and Stockholders’ Equity 6,932,300 13,568,170
Non-Agency MBS Transfered to Consolidated VIEs    
Assets:    
Residential whole loans, at carrying value ($3,843,153 and $4,847,782 pledged as collateral, respectively) 1,400,000 186,400
Residential whole loans, at fair value ($705,666 and $794,684 pledged as collateral, respectively) 382,300 567,400
Series B Preferred Stock    
Stockholders’ Equity:    
Preferred stock 80 80
Series C Preferred Stock    
Stockholders’ Equity:    
Preferred stock $ 110 $ 0
[1] For the year ended December 31, 2020, includes approximately $2.7 million (360,534 shares) surrendered for tax purposes related to equity-based compensation awards. For the year ended December 31, 2019, includes approximately $4.1 million (562,815 shares) surrendered for tax purposes related to equity-based compensation awards. For the year ended December 31, 2018, includes approximately $3.4 million (464,429 shares) surrendered for tax purposes related to equity-based compensation awards.