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v3.20.4

Segment Information - Financial Information by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018
Segment Reporting Information [Line Items] |  |  |  |
Interest income |  | $ 571,916 | $ 622,281 | $ 378,717
Interest expense |  | (448,005) | (479,808) | (239,039)
Net Interest Income |  | 123,911 | 142,473 | 139,678
Non-interest income |  |  |  |
Mortgage banking activities, net |  | 78,472 | 87,266 | 59,566
Investment fair value changes, net |  | (588,438) | 35,500 | (25,689)
Other income |  | 4,188 | 19,257 | 13,070
Realized gains, net |  | 30,424 | 23,821 | 27,041
Total non-interest income, net |  | (475,354) | 165,844 | 73,988
General and administrative expenses |  | (115,204) | (108,737) | (75,298)
Loan acquisition costs |  | (11,023) | (9,935) | (7,484)
Other expenses |  | (108,785) | (13,022) | (196)
Provision for income taxes |  | 4,608 | (7,440) | (11,088)
Net (Loss) Income |  | (581,847) | 169,183 | 119,600
Non-cash amortization (expense) income, net |  | (25,324) | (3,361) | 12,379
Other significant non-cash expense: goodwill impairment | $ (89,000) | (88,675) | 0 | 0
Operating Segments | Residential Lending |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Interest income |  | 150,906 | 268,559 | 245,124
Interest expense |  | (107,371) | (171,119) | (134,590)
Net Interest Income |  | 43,535 | 97,440 | 110,534
Non-interest income |  |  |  |
Mortgage banking activities, net |  | 3,721 | 47,743 | 59,623
Investment fair value changes, net |  | (153,388) | (27,920) | (21,686)
Other income |  | (4,642) | 9,210 | 12,452
Realized gains, net |  | 2,001 | 8,292 | 7,709
Total non-interest income, net |  | (152,308) | 37,325 | 58,098
General and administrative expenses |  | (17,939) | (26,717) | (26,897)
Loan acquisition costs |  | (2,785) | (3,954) | (5,242)
Other expenses |  | (4,114) | 0 | 0
Provision for income taxes |  | 4,567 | (4,074) | (8,033)
Net (Loss) Income |  | (129,044) | 100,020 | 128,460
Non-cash amortization (expense) income, net |  | 2,401 | 3,669 | 4,486
Other significant non-cash expense: goodwill impairment |  | 0 |  |
Operating Segments | Business Purpose Lending |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Interest income |  | 218,890 | 54,372 | 4,588
Interest expense |  | (157,292) | (32,232) | (1,598)
Net Interest Income |  | 61,598 | 22,140 | 2,990
Non-interest income |  |  |  |
Mortgage banking activities, net |  | 74,751 | 39,523 | (57)
Investment fair value changes, net |  | (81,042) | (6,722) | (29)
Other income |  | 4,651 | 5,852 | 0
Realized gains, net |  | 0 | 0 | 0
Total non-interest income, net |  | (1,640) | 38,653 | (86)
General and administrative expenses |  | (39,319) | (25,591) | (1,948)
Loan acquisition costs |  | (7,544) | (5,064) | (649)
Other expenses |  | (104,147) | (8,521) | 0
Provision for income taxes |  | (4,063) | (947) | 0
Net (Loss) Income |  | (95,115) | 20,670 | 307
Non-cash amortization (expense) income, net |  | (24,638) | (9,173) | (290)
Other significant non-cash expense: goodwill impairment |  | (88,675) |  |
Operating Segments | Third-Party Investments |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Interest income |  | 192,984 | 281,701 | 108,969
Interest expense |  | (135,722) | (213,312) | (41,887)
Net Interest Income |  | 57,262 | 68,389 | 67,082
Non-interest income |  |  |  |
Mortgage banking activities, net |  | 0 | 0 | 0
Investment fair value changes, net |  | (352,004) | 71,759 | (2,978)
Other income |  | 1,494 | 1,484 | 0
Realized gains, net |  | 3,241 | 15,529 | 19,332
Total non-interest income, net |  | (347,269) | 88,772 | 16,354
General and administrative expenses |  | (5,046) | (3,561) | (2,140)
Loan acquisition costs |  | (684) | (780) | (1,584)
Other expenses |  | 194 | (1,106) | (18)
Provision for income taxes |  | 4,104 | (2,419) | (3,055)
Net (Loss) Income |  | (291,439) | 149,295 | 76,639
Non-cash amortization (expense) income, net |  | 1,867 | 6,956 | 12,294
Other significant non-cash expense: goodwill impairment |  | 0 |  |
Corporate/ Other |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Interest income |  | 9,136 | 17,649 | 20,036
Interest expense |  | (47,620) | (63,145) | (60,964)
Net Interest Income |  | (38,484) | (45,496) | (40,928)
Non-interest income |  |  |  |
Mortgage banking activities, net |  | 0 | 0 | 0
Investment fair value changes, net |  | (2,004) | (1,617) | (996)
Other income |  | 2,685 | 2,711 | 618
Realized gains, net |  | 25,182 | 0 | 0
Total non-interest income, net |  | 25,863 | 1,094 | (378)
General and administrative expenses |  | (52,900) | (52,868) | (44,313)
Loan acquisition costs |  | (10) | (137) | (9)
Other expenses |  | (718) | (3,395) | (178)
Provision for income taxes |  | 0 | 0 | 0
Net (Loss) Income |  | (66,249) | (100,802) | (85,806)
Non-cash amortization (expense) income, net |  | (4,954) | $ (4,813) | $ (4,111)
Other significant non-cash expense: goodwill impairment |  | $ 0 |  |

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