XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows From Operating Activities:    
Net (loss)/income $ (183,273) $ 152,236
Adjustments to reconcile net income to net cash provided by operating activities:    
Losses/(gains) on residential whole loans and real estate owned, net 485,101 (41,418)
Losses/(gains) on securities, net 4,380 (1,476)
Accretion of purchase discounts and amortization of purchase premiums on residential whole loans and securities, and amortization of terminated hedging instruments (6,846) (18,653)
Provision/(reversal of provision) for credit losses on residential whole loans and other assets 25,965 (33,234)
Net (gains)/losses on derivatives used for risk management purposes (151,706) 1,057
Net mark-to-market on Securitized debt measured at fair value (147,203) (7,397)
Unrealized loss on loan originator investment 11,363 0
Net other non-cash losses included in net income 14,852 15,554
Decrease in other assets 161,860 18,092
(Decrease)/increase in other liabilities (4,570) 11,835
Net cash provided by operating activities 209,923 96,596
Cash Flows From Investing Activities:    
Purchases of residential whole loans, loan related investments and capitalized advances (1,964,553) (1,032,791)
Principal payments on residential whole loans and loan related investments 1,134,500 917,553
Proceeds from sales of securities and other assets 369 0
Principal payments on securities 2,453 110,320
Purchases of real estate owned and capital improvements (629) (624)
Proceeds from sales of real estate owned 81,442 88,625
Additions to leasehold improvements, furniture and fixtures (1,225) (43,589)
Net cash (used in)/provided by investing activities (747,643) 39,494
Cash Flows From Financing Activities:    
Principal payments on financing agreements with mark-to-market collateral provisions (1,728,740) (698,220)
Proceeds from borrowings under financing agreements with mark-to-market collateral provisions 1,791,390 721,380
Principal payments on other collateralized financing agreements (1,261,737) (1,072,865)
Proceeds from borrowings under other collateralized financing agreements 2,099,070 1,243,860
Payment made for other collateralized financing agreement related costs (9,632) (5,119)
Principal payment on redemption of Senior notes 0 (100,000)
Proceeds from issuances of common stock 1,122 772
Payments made for the repurchase of common stock through the stock repurchase program (102,311) (48,075)
Dividends paid on preferred stock (16,438) (16,438)
Dividends paid on common stock and dividend equivalents (94,108) (67,656)
Net cash provided by/(used in) financing activities 678,616 (42,361)
Net increase in cash, cash equivalents and restricted cash 140,896 93,729
Cash, cash equivalents and restricted cash at beginning of period 404,447 821,519
Cash, cash equivalents and restricted cash at end of period 545,343 915,248
Supplemental Disclosure of Cash Flow Information    
Interest Paid 89,367 58,610
Non-cash Investing and Financing Activities:    
Transfer from residential whole loans to real estate owned 45,217 38,370
Dividends and dividend equivalents declared and unpaid 44,963 44,236
Payable for unsettled residential whole loan purchases 0 131,275
Right-of-use lease asset and lease liability $ 0 $ 40,893