XML 44 R30.htm IDEA: XBRL DOCUMENT
v3.21.1

General and Administrative Expenses, Loan Acquisition Costs, and Other Expenses | 3 Months Ended
--- | ---
Mar. 31, 2021
Other Income and Expenses [Abstract] |
General and Administrative Expenses, Loan Acquisition Costs, and Other Expenses | General and Administrative Expenses, Loan Acquisition Costs, and Other Expenses Components of our general and administrative expenses, loan acquisition costs, and other expenses for the three months ended March 31, 2021 and 2020 are presented in the following table. Table 21.1 – Components of General and Administrative Expenses, Loan Acquisition Costs, and Other Expenses
|  | Three Months Ended March 31, |  |
(In Thousands) |  | 2021 |  | 2020 |  |  |  |
General and Administrative Expenses |  |  |  |  |  |  |  |
Fixed compensation expense |  | $ | 11,805 |  |  | $ | 14,684 |  |  |  |  |
Annual variable compensation |  | 18,669 |  |  | 11 |  |  |  |  |
Long-term incentive award expense (1) |  | 4,169 |  |  | 1,995 |  |  |  |  |
Acquisition-related equity compensation expense (2) |  | 1,212 |  |  | 1,212 |  |  |  |  |
Systems and consulting |  | 2,977 |  |  | 3,212 |  |  |  |  |
Office costs |  | 1,808 |  |  | 2,108 |  |  |  |  |
Accounting and legal |  | 714 |  |  | 2,216 |  |  |  |  |
Corporate costs |  | 691 |  |  | 671 |  |  |  |  |
Other |  | 1,506 |  |  | 2,573 |  |  |  |  |
Total General and Administrative Expenses |  | 43,551 |  |  | 28,682 |  |  |  |  |
Loan Acquisition Costs |  |  |  |  |  |  |  |
Commissions |  | 1,263 |  |  | 1,788 |  |  |  |  |
Underwriting costs |  | 1,685 |  |  | 1,662 |  |  |  |  |
Transfer and holding costs |  | 611 |  |  | 536 |  |  |  |  |
Total Loan Acquisition Costs |  | 3,559 |  |  | 3,986 |  |  |  |  |
Other Expenses |  |  |  |  |  |  |  |
Goodwill impairment expense |  | — |  |  | 88,675 |  |  |  |  |
Amortization of purchase-related intangible assets |  | 3,873 |  |  | 4,309 |  |  |  |  |
Other |  | 223 |  |  | (1,569) |  |  |  |  |
Total Other Expenses |  | 4,096 |  |  | 91,415 |  |  |  |  |
Total General and Administrative Expenses, Loan Acquisition Costs, and Other Expenses |  | $ | 51,206 |  |  | $ | 124,083 |  |  |  |  |
(1)For the three months ended March 31, 2021, long-term incentive award expense includes $3 million of expense for awards settleable in shares of our common stock and $1 million of expense for awards settleable in cash. (2)Acquisition-related equity compensation expense relates to 588,260 shares of restricted stock that were issued to members of CoreVest management as a component of the consideration paid to them for our purchase of their interests in CoreVest. The grant date fair value of these restricted stock awards was $10 million, which is being recognized as compensation expense over the two-year vesting period on a straight-line basis in accordance with GAAP.

X
- References No definition available. + Details
Name: | us-gaap_OtherIncomeAndExpensesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 720 -URI http://asc.fasb.org/topic&trid=2122503 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 610 -URI http://asc.fasb.org/topic&trid=49130413 + Details
Name: | us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration