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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows From Operating Activities:    
Net Income $ 120,513 $ 109,473
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization of premiums, discounts, and securities issuance costs, net (11,091) (14,246)
Depreciation and amortization of non-financial assets 922 909
Purchases of held-for-sale loans (5,596,326) (3,760,110)
Proceeds from sales of held-for-sale loans 4,097,211 3,079,877
Principal payments on held-for-sale loans 51,853 38,500
Net settlements of derivatives 36,721 (10,570)
Non-cash equity award compensation expense 10,783 7,797
Market valuation adjustments (53,666) (50,352)
Realized gains, net (21,352) (8,809)
Net change in:    
Accrued interest receivable and other assets (32,722) (19,868)
Accrued interest payable and accrued expenses and other liabilities 34,137 (1,677)
Net cash used in operating activities (1,363,017) (629,076)
Cash Flows From Investing Activities:    
Purchases of loans held-for-investment (111,231) 0
Principal payments on loans held-for-investment 550,973 370,595
Purchases of real estate securities (482,150) (396,721)
Purchases of multifamily securities held in consolidated securitization trusts (54,957) 0
Proceeds from sales of real estate securities 432,199 142,931
Principal payments on real estate securities 61,278 55,544
Sales of mortgage servicing rights, net 6,344 50,705
Net investment in participation in loan warehouse facility (37,814) 0
Other investing activities, net (10,075) 0
Net cash provided by investing activities 354,567 223,054
Cash Flows From Financing Activities:    
Proceeds from borrowings on short-term debt 4,760,083 3,126,949
Repayments on short-term debt (5,274,664) (2,968,050)
Proceeds from issuance of asset-backed securities 1,658,848 286,898
Repayments on asset-backed securities issued (305,528) (146,357)
Proceeds from issuance of long-term debt 199,000 245,000
Deferred long-term debt issuance costs paid (4,977) (7,380)
Net settlements of derivatives (244) (115)
Net proceeds from issuance of common stock 117,311 224
Net payments on repurchase of common stock (16,315) 0
Taxes paid on equity award distributions (375) (2,536)
Dividends paid (70,727) (66,209)
Net cash provided by financing activities 1,062,412 468,424
Net increase in cash, cash equivalents and restricted cash 53,962 62,402
Cash, cash equivalents and restricted cash at beginning of period [1] 146,807 221,467
Cash, cash equivalents, and restricted cash at end of period [1] 200,769 283,869
Cash paid during the period for:    
Interest 139,003 67,339
Taxes 6,372 1,476
Supplemental Noncash Information:    
Real estate securities retained from loan securitizations 46,872 67,083
Retention of mortgage servicing rights from loan securitizations and sales 0 7,387
Consolidation of multifamily loans held in securitization trusts 946,650 0
Consolidation of multifamily ABS 880,602 0
Transfers from loans held-for-sale to loans held-for-investment 1,981,170 643,876
Transfers from loans held-for-investment to loans held-for-sale 15,717 98,853
Transfers from residential loans to real estate owned $ 2,139 $ 3,177
[1] OOD TRUST, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(In Thousands)(Unaudited) Nine Months Ended September 30, 2018 2017Cash Flows From Operating Activities: Net income $120,513 $109,473Adjustments to reconcile net income to net cash used in operating activities: Amortization of premiums, discounts, and securities issuance costs, net (11,091) (14,246)Depreciation and amortization of non-financial assets 922 909Purchases of held-for-sale loans (5,596,326) (3,760,110)Proceeds from sales of held-for-sale loans 4,097,211 3,079,877Principal payments on held-for-sale loans 51,853 38,500Net settlements of derivatives 36,721 (10,570)Non-cash equity award compensation expense 10,783 7,797Market valuation adjustments (53,666) (50,352)Realized gains, net (21,352) (8,809)Net change in: Accrued interest receivable and other assets (32,722) (19,868)Accrued interest payable and accrued expenses and other liabilities 34,137 (1,677)Net cash used in operating activities (1,363,017) (629,076)Cash Flows From Investing Activities: Purchases of loans held-for-investment (111,231) —Principal payments on loans held-for-investment 550,973 370,595Purchases of real estate securities (482,150) (396,721)Purchases of multifamily securities held in consolidated securitization trusts (54,957) —Proceeds from sales of real estate securities 432,199 142,931Principal payments on real estate securities 61,278 55,544Sales (purchases) of mortgage servicing rights, net 6,344 50,705Net investment in participation in loan warehouse facility (37,814) —Other investing activities, net (10,075) —Net cash provided by investing activities 354,567 223,054Cash Flows From Financing Activities: Proceeds from borrowings on short-term debt 4,760,083 3,126,949Repayments on short-term debt (5,274,664) (2,968,050)Proceeds from issuance of asset-backed securities 1,658,848 286,898Repayments on asset-backed securities issued (305,528) (146,357)Proceeds from issuance of long-term debt 199,000 245,000Deferred long-term debt issuance costs paid (4,977) (7,380)Net settlements of derivatives (244) (115)Net proceeds from issuance of common stock 117,311 224Net payments on repurchase of common stock (16,315) —Taxes paid on equity award distributions (375) (2,536)Dividends paid (70,727) (66,209)Net cash provided by financing activities 1,062,412 468,424Net increase in cash, cash equivalents and restricted cash 53,962 62,402Cash, cash equivalents and restricted cash at beginning of period (1) 146,807 221,467Cash, cash equivalents, and restricted cash at end of period (1) $200,769 $283,869Supplemental Cash Flow Information: Cash paid during the period for: Interest $139,003 $67,339 Taxes 6,372 1,476Supplemental Noncash Information: Real estate securities retained from loan securitizations $46,872 $67,083Retention of mortgage servicing rights from loan securitizations and sales — 7,387Consolidation of multifamily loans held in securitization trusts 946,650 —Consolidation of multifamily ABS 880,602 —Transfers from loans held-for-sale to loans held-for-investment 1,981,170 643,876Transfers from loans held-for-investment to loans held-for-sale 15,717 98,853Transfers from residential loans to real estate owned 2,139 3,177(1)Cash, cash equivalents, and restricted cash at September 30, 2018 includes cash and cash equivalents of $174 million and restricted cash of $27 million, and at December