XML 129 R117.htm IDEA: XBRL DOCUMENT v3.22.4
Segment Reporting - Segment Reporting (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Segment Reporting Information [Line Items]      
Interest Income $ 482,419 $ 362,302 $ 432,832
Interest Expense 258,843 120,385 268,758
Net Interest Income/(Expense) 223,576 241,917 164,074
Reversal of Provision/(Provision) for Credit Losses on Residential Whole Loans 2,646 44,863 (22,381)
Provision for Credit Losses on Other Assets (28,579) 0 0
Net Interest Income after (Provision)/Reversal of Provision for Credit Losses 197,643 286,780 141,693
Net loss on residential whole loans measured at fair value through earnings (866,762) 16,243 16,386
Impairment and other net (loss)/gain on securities and other portfolio investments (25,067) 74,496 (350,567)
Net gain on real estate owned 25,379 22,838 5,391
Total Net gain/(loss) on derivatives used for risk management purposes 255,179 1,426 (61,249)
Net gain on securitized debt measured at fair value through earnings 290,639 15,027 (11,929)
Lima One - origination, servicing and other fee income 46,745 22,600 0
Other, net 9,297 12,473 (4,571)
Noninterest Income (Loss), Net 264,590 (165,103) 679,569
General and administrative expenses (including compensation) 112,540 85,546  
Loan servicing, financing and other related costs 42,894 30,867 40,372
Amortization of intangible assets 9,200 6,600 0
Net (Loss)/Income (231,581) 328,870 (679,390)
Less Preferred Stock Dividend Requirement 32,875 32,875 29,796
Net Loss Available to Common Stock and Participating Securities (264,456) 295,995 $ (709,186)
Total Assets 9,112,405 9,139,688  
Mortgage Related Assets      
Segment Reporting Information [Line Items]      
Interest Income 364,761 347,863  
Interest Expense 176,725 99,905  
Net Interest Income/(Expense) 188,036 247,958  
Reversal of Provision/(Provision) for Credit Losses on Residential Whole Loans 2,842 44,981  
Provision for Credit Losses on Other Assets 0    
Net Interest Income after (Provision)/Reversal of Provision for Credit Losses 190,878 292,939  
Net loss on residential whole loans measured at fair value through earnings (730,028) (2,719)  
Impairment and other net (loss)/gain on securities and other portfolio investments (3,146) 1,607  
Net gain on real estate owned 25,348 22,760  
Total Net gain/(loss) on derivatives used for risk management purposes 217,961 1,457  
Net gain on securitized debt measured at fair value through earnings 231,176 14,594  
Lima One - origination, servicing and other fee income 0 0  
Other, net 4,282 759  
Noninterest Income (Loss), Net 254,407 (38,458)  
General and administrative expenses (including compensation) 0 0  
Loan servicing, financing and other related costs 25,384 25,250  
Amortization of intangible assets 0 0  
Net (Loss)/Income (88,913) 306,147  
Less Preferred Stock Dividend Requirement 0 0  
Net Loss Available to Common Stock and Participating Securities (88,913) 306,147  
Total Assets 6,065,557 7,567,084  
Lima One      
Segment Reporting Information [Line Items]      
Interest Income 113,134 14,249  
Interest Expense 66,358 4,691  
Net Interest Income/(Expense) 46,776 9,558  
Reversal of Provision/(Provision) for Credit Losses on Residential Whole Loans (196) (118)  
Provision for Credit Losses on Other Assets 0    
Net Interest Income after (Provision)/Reversal of Provision for Credit Losses 46,580 9,440  
Net loss on residential whole loans measured at fair value through earnings (136,734) 18,962  
Impairment and other net (loss)/gain on securities and other portfolio investments 0 0  
Net gain on real estate owned 31 78  
Total Net gain/(loss) on derivatives used for risk management purposes 37,218 (31)  
Net gain on securitized debt measured at fair value through earnings 59,463 433  
Lima One - origination, servicing and other fee income 46,745 22,600  
Other, net 537 128  
Noninterest Income (Loss), Net (7,260) (42,170)  
General and administrative expenses (including compensation) 53,185 24,140  
Loan servicing, financing and other related costs 1,120 436  
Amortization of intangible assets 9,200 6,600  
Net (Loss)/Income (9,665) 20,434  
Less Preferred Stock Dividend Requirement 0 0  
Net Loss Available to Common Stock and Participating Securities (9,665) 20,434  
Total Assets 2,618,695 1,200,737  
Corporate Segment      
Segment Reporting Information [Line Items]      
Interest Income 4,524 190  
Interest Expense 15,760 15,789  
Net Interest Income/(Expense) (11,236) (15,599)  
Reversal of Provision/(Provision) for Credit Losses on Residential Whole Loans 0 0  
Provision for Credit Losses on Other Assets (28,579)    
Net Interest Income after (Provision)/Reversal of Provision for Credit Losses (39,815) (15,599)  
Net loss on residential whole loans measured at fair value through earnings 0 0  
Impairment and other net (loss)/gain on securities and other portfolio investments (21,921) 72,889  
Net gain on real estate owned 0 0  
Total Net gain/(loss) on derivatives used for risk management purposes 0 0  
Net gain on securitized debt measured at fair value through earnings 0 0  
Lima One - origination, servicing and other fee income 0 0  
Other, net 4,478 11,586  
Noninterest Income (Loss), Net 17,443 (84,475)  
General and administrative expenses (including compensation) 59,355 61,406  
Loan servicing, financing and other related costs 16,390 5,181  
Amortization of intangible assets 0 0  
Net (Loss)/Income (133,003) 2,289  
Less Preferred Stock Dividend Requirement 32,875 32,875  
Net Loss Available to Common Stock and Participating Securities (165,878) (30,586)  
Total Assets $ 428,153 $ 371,867