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v3.20.2

Segment Information - Financial Information by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019
Segment Reporting Information [Line Items] |  |  |  |  |
Interest income | $ 129,946 |  | $ 148,542 | $ 328,027 | $ 279,583
Interest expense | (102,666) |  | (116,220) | (249,337) | (215,496)
Net Interest Income | 27,280 |  | 32,322 | 78,690 | 64,087
Non-interest Income (Loss) |  |  |  |  |
Mortgage banking activities, net | (5,772) |  | 19,160 | (34,183) | 31,469
Investment fair value changes, net | 152,228 |  | 3,138 | (718,604) | 23,297
Other income, net | 955 |  | 4,859 | 3,392 | 9,484
Realized gains, net | 25,965 |  | 2,827 | 29,817 | 13,513
Total non-interest income (loss), net | 173,376 |  | 29,984 | (719,578) | 77,763
General and administrative expenses | (30,092) |  | (26,255) | (62,760) | (49,414)
Other expenses | (5,083) |  | (2,452) | (96,498) | (3,490)
Benefit from (provision for) income taxes | (37) |  | (2,333) | 22,192 | (3,216)
Net Income (Loss) | 165,444 |  | 31,266 | (777,954) | 85,730
Non-cash amortization (expense) income, net | (8,963) |  | (517) | (13,044) | (36)
Other significant non-cash expense: goodwill impairment | 0 | $ (89,000) | 0 | (88,675) | 0
Operating Segments | Residential Lending |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |
Interest income | 36,653 |  | 67,611 | 97,284 | 134,450
Interest expense | (30,169) |  | (49,321) | (71,571) | (96,997)
Net Interest Income | 6,484 |  | 18,290 | 25,713 | 37,453
Non-interest Income (Loss) |  |  |  |  |
Mortgage banking activities, net | (8,005) |  | 15,359 | (31,086) | 26,186
Investment fair value changes, net | 35,085 |  | (8,102) | (161,550) | (9,822)
Other income, net | 230 |  | 2,990 | (267) | 4,439
Realized gains, net | 205 |  | 2,791 | 2,001 | 7,728
Total non-interest income (loss), net | 27,515 |  | 13,038 | (190,902) | 28,531
General and administrative expenses | (3,875) |  | (6,799) | (9,507) | (14,002)
Other expenses | 0 |  | 0 | 0 | 0
Benefit from (provision for) income taxes | 3,323 |  | (1,484) | 8,653 | (1,985)
Net Income (Loss) | 33,447 |  | 23,045 | (166,043) | 49,997
Non-cash amortization (expense) income, net | (1,265) |  | 2,268 | (1,053) | 4,243
Other significant non-cash expense: goodwill impairment |  |  |  | 0 |
Operating Segments | Business Purpose Lending |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |
Interest income | 53,742 |  | 4,131 | 106,802 | 7,068
Interest expense | (38,837) |  | (2,238) | (73,827) | (3,777)
Net Interest Income | 14,905 |  | 1,893 | 32,975 | 3,291
Non-interest Income (Loss) |  |  |  |  |
Mortgage banking activities, net | 2,233 |  | 3,801 | (3,097) | 5,283
Investment fair value changes, net | 40,401 |  | (457) | (101,729) | (760)
Other income, net | 476 |  | 1,829 | 2,169 | 2,295
Realized gains, net | 0 |  | 0 | 0 | 0
Total non-interest income (loss), net | 43,110 |  | 5,173 | (102,657) | 6,818
General and administrative expenses | (10,293) |  | (6,120) | (24,626) | (8,685)
Other expenses | (3,884) |  | (1,899) | (96,869) | (2,532)
Benefit from (provision for) income taxes | 2,439 |  | 38 | 9,021 | 33
Net Income (Loss) | 46,277 |  | (915) | (182,156) | (1,075)
Non-cash amortization (expense) income, net | (6,391) |  | (2,068) | (11,316) | (2,800)
Other significant non-cash expense: goodwill impairment |  |  |  | (88,675) |
Operating Segments | Third-Party Investments |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |
Interest income | 36,811 |  | 72,024 | 118,007 | 128,436
Interest expense | (27,869) |  | (60,680) | (95,626) | (106,626)
Net Interest Income | 8,942 |  | 11,344 | 22,381 | 21,810
Non-interest Income (Loss) |  |  |  |  |
Mortgage banking activities, net | 0 |  | 0 | 0 | 0
Investment fair value changes, net | 76,972 |  | 11,856 | (454,586) | 34,435
Other income, net | (509) |  | 40 | 732 | 40
Realized gains, net | 578 |  | 36 | 2,634 | 5,785
Total non-interest income (loss), net | 77,041 |  | 11,932 | (451,220) | 40,260
General and administrative expenses | (2,106) |  | (900) | (3,894) | (1,886)
Other expenses | (1,065) |  | (242) | 817 | (469)
Benefit from (provision for) income taxes | (5,799) |  | (887) | 4,518 | (1,264)
Net Income (Loss) | 77,013 |  | 21,247 | (427,398) | 58,451
Non-cash amortization (expense) income, net | 312 |  | (417) | 1,053 | (688)
Other significant non-cash expense: goodwill impairment |  |  |  | 0 |
Corporate/ Other |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |
Interest income | 2,740 |  | 4,776 | 5,934 | 9,629
Interest expense | (5,791) |  | (3,981) | (8,313) | (8,096)
Net Interest Income | (3,051) |  | 795 | (2,379) | 1,533
Non-interest Income (Loss) |  |  |  |  |
Mortgage banking activities, net | 0 |  | 0 | 0 | 0
Investment fair value changes, net | (230) |  | (159) | (739) | (556)
Other income, net | 758 |  | 0 | 758 | 2,710
Realized gains, net | 25,182 |  | 0 | 25,182 | 0
Total non-interest income (loss), net | 25,710 |  | (159) | 25,201 | 2,154
General and administrative expenses | (13,818) |  | (12,436) | (24,733) | (24,841)
Other expenses | (134) |  | (311) | (446) | (489)
Benefit from (provision for) income taxes | 0 |  | 0 | 0 | 0
Net Income (Loss) | 8,707 |  | (12,111) | (2,357) | (21,643)
Non-cash amortization (expense) income, net | $ (1,619) |  | $ (300) | (1,728) | $ (791)
Other significant non-cash expense: goodwill impairment |  |  |  | $ 0 |

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- Definition Amount of unrealized gain (loss) on investment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3602-108585 + Details
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