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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest Income        
Residential loans $ 55,514 $ 36,635 $ 105,745 $ 70,997
Real estate securities 26,296 21,826 51,991 41,643
Other interest income 1,166 763 1,859 1,212
Total interest income 82,976 59,224 159,595 113,852
Interest Expense        
Short-term debt (13,175) (9,350) (26,610) (13,803)
Asset-backed securities issued (16,349) (3,705) (27,750) (7,235)
Long-term debt (18,689) (11,179) (35,367) (24,227)
Total Interest Expense (48,213) (24,234) (89,727) (45,265)
Net Interest Income 34,763 34,990 69,868 68,587
Non-interest Income        
Mortgage banking activities, net 10,596 12,046 37,172 29,650
Investment fair value changes, net 889 8,115 2,498 9,666
Other income, net 3,322 3,764 5,440 6,661
Realized gains, net 4,714 1,372 14,077 7,075
Total non-interest income, net 19,521 25,297 59,187 53,052
Operating expenses (19,009) (18,641) (42,039) (36,867)
Net Income before Provision for Income Taxes 35,275 41,646 87,016 84,772
Provision for income taxes (2,528) (5,322) (7,424) (11,479)
Net Income $ 32,747 $ 36,324 $ 79,592 $ 73,293
Basic earnings per common share (in dollars per share) $ 0.42 $ 0.46 $ 1.02 $ 0.93
Diluted earnings per common share (in dollars per share) 0.38 0.43 0.88 0.85
Regular dividends declared per common share (in dollars per share) $ 0.30 $ 0.28 $ 0.58 $ 0.56
Basic weighted average shares outstanding (in shares) 75,380,715 76,819,703 75,388,638 76,779,178
Diluted weighted average shares outstanding (in shares) 100,431,993 97,494,144 104,291,180 97,718,550