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Operating Expenses
 6 Months Ended
Jun. 30, 2019
Other Income and Expenses [Abstract]  
Operating Expenses Operating Expenses
Components of our operating expenses for the three and six months ended June 30, 2019 and 2018 are presented in the following table.
Table 22.1 – Components of Operating Expenses
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In Thousands)
 
2019
 
2018
 
2019
 
2018
Fixed compensation expense
 
$
9,252

 
$
5,775

 
$
17,457

 
$
12,214

Variable compensation expense
 
4,021

 
1,825

 
8,423

 
8,732

Equity compensation expense
 
4,024

 
3,835

 
6,977

 
6,532

Total compensation expense
 
17,297

 
11,435

 
32,857

 
27,478

Systems and consulting
 
2,536

 
1,774

 
4,364

 
3,640

Loan acquisition costs (1)
 
1,516

 
2,155

 
2,993

 
3,973

Office costs
 
1,585

 
1,084

 
2,889

 
2,224

Accounting and legal
 
960

 
1,074

 
2,085

 
1,908

Corporate costs
 
545

 
496

 
1,219

 
1,000

Other operating expenses
 
1,816

 
991

 
3,007

 
1,816

Total Operating Expenses
 
$
26,255

 
$
19,009

 
$
49,414

 
$
42,039

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