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General and Administrative Expenses, Loan Acquisition Costs, and Other Expenses (Tables)

3 Months Ended

Mar. 31, 2021

Other Income and Expenses [Abstract]

Components of General and Administrative Expenses 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.

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- Definition

Tabular disclosure of each detailed component of other operating costs and expenses that are applicable to sales and revenues, but not included in the cost of sales in the income statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.3)
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

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