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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest Income    
Residential loans $ 75,950 $ 50,231
Business purpose residential loans 2,789 0
Multifamily loans 21,388 0
Real estate securities 24,450 25,695
Other interest income 6,464 693
Total interest income 131,041 76,619
Interest Expense    
Short-term debt (22,218) (13,435)
Asset-backed securities issued (55,295) (11,401)
Long-term debt (21,763) (16,678)
Total Interest Expense (99,276) (41,514)
Net Interest Income 31,765 35,105
Non-interest Income    
Mortgage banking activities, net 12,309 26,576
Investment fair value changes, net 20,159 1,609
Other income, net 3,587 2,118
Realized gains, net 10,686 9,363
Total non-interest income, net 46,741 39,666
Operating expenses (23,159) (23,030)
Net Income before Provision for Income Taxes 55,347 51,741
Provision for income taxes (883) (4,896)
Net Income $ 54,464 $ 46,845
Basic earnings per common share (in dollars per share) $ 0.57 $ 0.60
Diluted earnings per common share (in dollars per share) 0.49 0.50
Regular dividends declared per common share (in dollars per share) $ 0.30 $ 0.28
Basic weighted average shares outstanding (in shares) 92,685,350 75,396,649
Diluted weighted average shares outstanding (in shares) 126,278,160 108,194,597