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v3.21.1

Segment Information - Financial Information by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2021 | Mar. 31, 2020
Segment Reporting Information [Line Items] |  |
Interest income | $ 128,305 | $ 198,081
Interest expense | (102,552) | (146,671)
Net Interest Income | 25,753 | 51,410
Non-interest Income (Loss) |  |
Mortgage banking activities, net | 82,607 | (28,902)
Investment fair value changes, net | 45,087 | (870,832)
Other income, net | 3,843 | 2,928
Realized gains, net | 2,716 | 3,852
Total non-interest income (loss), net | 134,253 | (892,954)
General and administrative expenses | (43,551) | (28,682)
Loan acquisition costs | (3,559) | (3,986)
Other expenses | (4,096) | (91,415)
Provision for income taxes | (11,543) | 22,229
Net Income (Loss) | 97,257 | (943,398)
Non-cash amortization (expense) income, net | (6,230) | (4,497)
Other significant non-cash expense: goodwill impairment | 0 | (88,675)
Operating Segments | Residential Lending |  |
Segment Reporting Information [Line Items] |  |
Interest income | 27,548 | 60,631
Interest expense | (19,037) | (37,562)
Net Interest Income | 8,511 | 23,069
Non-interest Income (Loss) |  |
Mortgage banking activities, net | 61,435 | (23,081)
Investment fair value changes, net | 2,746 | (196,635)
Other income, net | 2,853 | (497)
Realized gains, net | 2,408 | 1,796
Total non-interest income (loss), net | 69,442 | (218,417)
General and administrative expenses | (13,757) | (4,599)
Loan acquisition costs | (1,416) | (1,033)
Other expenses | (6) | 0
Provision for income taxes | (9,979) | 5,330
Net Income (Loss) | 52,795 | (195,650)
Non-cash amortization (expense) income, net | 1,666 | 367
Other significant non-cash expense: goodwill impairment |  | 0
Operating Segments | Business Purpose Lending |  |
Segment Reporting Information [Line Items] |  |
Interest income | 64,405 | 53,060
Interest expense | (50,075) | (32,353)
Net Interest Income | 14,330 | 20,707
Non-interest Income (Loss) |  |
Mortgage banking activities, net | 21,172 | (5,821)
Investment fair value changes, net | 3,299 | (142,130)
Other income, net | 843 | 2,184
Realized gains, net | 108 | 0
Total non-interest income (loss), net | 25,422 | (145,767)
General and administrative expenses | (11,159) | (11,640)
Loan acquisition costs | (2,052) | (2,693)
Other expenses | (3,777) | (92,985)
Provision for income taxes | (1,321) | 6,582
Net Income (Loss) | 21,443 | (225,796)
Non-cash amortization (expense) income, net | (5,857) | (5,363)
Other significant non-cash expense: goodwill impairment |  | (88,675)
Operating Segments | Third-Party Investments |  |
Segment Reporting Information [Line Items] |  |
Interest income | 34,990 | 81,196
Interest expense | (23,179) | (62,501)
Net Interest Income | 11,811 | 18,695
Non-interest Income (Loss) |  |
Mortgage banking activities, net | 0 | 0
Investment fair value changes, net | 39,716 | (531,558)
Other income, net | 0 | 1,241
Realized gains, net | 200 | 2,056
Total non-interest income (loss), net | 39,916 | (528,261)
General and administrative expenses | (1,131) | (1,535)
Loan acquisition costs | (87) | (253)
Other expenses | (330) | 1,882
Provision for income taxes | (243) | 10,317
Net Income (Loss) | 49,936 | (499,155)
Non-cash amortization (expense) income, net | (144) | 866
Other significant non-cash expense: goodwill impairment |  | 0
Corporate/ Other |  |
Segment Reporting Information [Line Items] |  |
Interest income | 1,362 | 3,194
Interest expense | (10,261) | (14,255)
Net Interest Income | (8,899) | (11,061)
Non-interest Income (Loss) |  |
Mortgage banking activities, net | 0 | 0
Investment fair value changes, net | (674) | (509)
Other income, net | 147 | 0
Realized gains, net | 0 | 0
Total non-interest income (loss), net | (527) | (509)
General and administrative expenses | (17,504) | (10,908)
Loan acquisition costs | (4) | (7)
Other expenses | 17 | (312)
Provision for income taxes | 0 | 0
Net Income (Loss) | (26,917) | (22,797)
Non-cash amortization (expense) income, net | $ (1,895) | (367)
Other significant non-cash expense: goodwill impairment |  | $ 0

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