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Operating Expenses
 3 Months Ended
Mar. 31, 2019
Other Income and Expenses [Abstract]  
Operating Expenses
Operating Expenses
Components of our operating expenses for the three months ended March 31, 2019 and 2018 are presented in the following table.
Table 21.1 – Components of Operating Expenses
 
 
Three Months Ended March 31,
(In Thousands)
 
2019
 
2018
Fixed compensation expense
 
$
8,205

 
$
6,439

Variable compensation expense
 
4,402

 
6,907

Equity compensation expense
 
2,953

 
2,697

Total compensation expense
 
15,560

 
16,043

Systems and consulting
 
1,828

 
1,866

Loan acquisition costs (1)
 
1,477

 
1,818

Office costs
 
1,304

 
1,140

Accounting and legal
 
1,125

 
834

Corporate costs
 
674

 
504

Other operating expenses
 
1,191

 
825

Total Operating Expenses
 
$
23,159

 
$
23,030

(1)
Loan acquisition costs primarily includes underwriting and due diligence costs related to the acquisition of residential loans held-for-sale at fair value.