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v3.21.2

Segment Information - Financial Information by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020
Segment Reporting Information [Line Items] |  |  |  |
Interest income | $ 145,722 | $ 121,982 | $ 412,722 | $ 450,009
Interest expense | (103,754) | (100,411) | (314,371) | (349,748)
Net Interest Income | 41,968 | 21,571 | 98,351 | 100,261
Non-interest Income (Loss) |  |  |  |
Mortgage banking activities, net | 63,163 | 59,395 | 200,189 | 24,511
Investment fair value changes, net | 26,077 | 107,047 | 120,644 | (611,557)
Other income, net | 2,388 | (114) | 8,357 | 3,979
Realized gains, net | 6,703 | 602 | 17,803 | 30,419
Total non-interest income (loss), net | 98,331 | 166,930 | 346,993 | (552,648)
General and administrative expenses | (47,692) | (27,630) | (131,837) | (84,832)
Loan acquisition costs | (4,621) | (2,158) | (11,928) | (7,716)
Other expenses | (4,023) | (7,788) | (12,104) | (104,286)
(Provision for) benefit from income taxes | 4,323 | (9,113) | (13,907) | 13,079
Net Income (Loss) | 88,286 | 141,812 | 275,568 | (636,142)
Non-cash amortization (expense) income, net | (570) | (6,333) | (12,815) | (19,377)
Other significant non-cash expense: goodwill impairment | 0 | 0 | 0 | (88,675)
Operating Segments | Residential Lending |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Interest income | 44,220 | 26,672 | 104,801 | 123,956
Interest expense | (25,395) | (21,401) | (65,488) | (87,725)
Net Interest Income | 18,825 | 5,271 | 39,313 | 36,231
Non-interest Income (Loss) |  |  |  |
Mortgage banking activities, net | 32,946 | 11,864 | 115,646 | (19,222)
Investment fair value changes, net | 2,285 | 2,443 | 8,958 | (159,107)
Other income, net | 874 | (2,011) | 4,566 | (2,278)
Realized gains, net | 6,389 | 0 | 15,484 | 2,001
Total non-interest income (loss), net | 42,494 | 12,296 | 144,654 | (178,606)
General and administrative expenses | (8,989) | (4,602) | (30,539) | (12,901)
Loan acquisition costs | (2,395) | (304) | (5,698) | (1,512)
Other expenses | 0 | (3,309) | (6) | (3,309)
(Provision for) benefit from income taxes | (11,139) | (826) | (25,289) | 7,827
Net Income (Loss) | 38,796 | 8,526 | 122,435 | (152,270)
Non-cash amortization (expense) income, net | 5,862 | 1,785 | 8,867 | 732
Other significant non-cash expense: goodwill impairment |  |  |  | 0
Operating Segments | Business Purpose Lending |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Interest income | 67,235 | 55,930 | 202,155 | 162,732
Interest expense | (46,834) | (44,159) | (151,351) | (113,143)
Net Interest Income | 20,401 | 11,771 | 50,804 | 49,589
Non-interest Income (Loss) |  |  |  |
Mortgage banking activities, net | 30,217 | 47,531 | 84,543 | 43,733
Investment fair value changes, net | 3,470 | 16,892 | 10,551 | (84,837)
Other income, net | 1,184 | 623 | 3,044 | 3,493
Realized gains, net | 314 | 0 | 812 | 0
Total non-interest income (loss), net | 35,185 | 65,046 | 98,950 | (37,611)
General and administrative expenses | (13,987) | (9,321) | (38,834) | (29,977)
Loan acquisition costs | (2,175) | (1,660) | (6,088) | (5,630)
Other expenses | (3,873) | (3,874) | (11,523) | (100,743)
(Provision for) benefit from income taxes | (3,485) | (8,544) | (6,988) | 477
Net Income (Loss) | 32,066 | 53,418 | 86,321 | (123,895)
Non-cash amortization (expense) income, net | (4,713) | (6,719) | (16,154) | (18,035)
Other significant non-cash expense: goodwill impairment |  |  |  | (88,675)
Operating Segments | Third-Party Investments |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Interest income | 33,218 | 37,576 | 102,180 | 155,583
Interest expense | (21,370) | (24,238) | (66,883) | (111,666)
Net Interest Income | 11,848 | 13,338 | 35,297 | 43,917
Non-interest Income (Loss) |  |  |  |
Mortgage banking activities, net | 0 | 0 | 0 | 0
Investment fair value changes, net | 20,569 | 87,890 | 102,303 | (366,696)
Other income, net | 0 | 340 | 5 | 1,072
Realized gains, net | 0 | 602 | 1,507 | 3,236
Total non-interest income (loss), net | 20,569 | 88,832 | 103,815 | (362,388)
General and administrative expenses | (1,415) | (709) | (3,476) | (4,230)
Loan acquisition costs | (51) | (194) | (138) | (567)
Other expenses | (150) | (470) | (592) | 347
(Provision for) benefit from income taxes | (335) | 257 | (912) | 4,775
Net Income (Loss) | 30,466 | 101,054 | 133,994 | (318,146)
Non-cash amortization (expense) income, net | 276 | 117 | 317 | 1,170
Other significant non-cash expense: goodwill impairment |  |  |  | 0
Corporate/ Other |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Interest income | 1,049 | 1,804 | 3,586 | 7,738
Interest expense | (10,155) | (10,613) | (30,649) | (37,214)
Net Interest Income | (9,106) | (8,809) | (27,063) | (29,476)
Non-interest Income (Loss) |  |  |  |
Mortgage banking activities, net | 0 | 0 | 0 | 0
Investment fair value changes, net | (247) | (178) | (1,168) | (917)
Other income, net | 330 | 934 | 742 | 1,692
Realized gains, net | 0 | 0 | 0 | 25,182
Total non-interest income (loss), net | 83 | 756 | (426) | 25,957
General and administrative expenses | (23,301) | (12,998) | (58,988) | (37,724)
Loan acquisition costs | 0 | 0 | (4) | (7)
Other expenses | 0 | (135) | 17 | (581)
(Provision for) benefit from income taxes | 19,282 | 0 | 19,282 | 0
Net Income (Loss) | (13,042) | (21,186) | (67,182) | (41,831)
Non-cash amortization (expense) income, net | $ (1,995) | $ (1,516) | $ (5,845) | (3,244)
Other significant non-cash expense: goodwill impairment |  |  |  | $ 0

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