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Consolidated Statements of Income (Loss) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest Income      
Residential loans $ 204,801 $ 222,746 $ 315,953
Business purpose loans 270,791 217,617 53,805
Multifamily loans 19,266 54,813 132,600
Real estate securities 54,704 49,605 91,822
Other interest income 25,364 27,135 28,101
Total interest income 574,926 571,916 622,281
Interest Expense      
Short-term debt (42,581) (50,895) (96,506)
Asset-backed securities issued (305,801) (299,708) (294,466)
Long-term debt (78,367) (97,402) (88,836)
Total interest expense (426,749) (448,005) (479,808)
Net Interest Income 148,177 123,911 142,473
Non-interest Income (Loss)      
Mortgage banking activities, net 235,744 78,472 87,266
Investment fair value changes, net 128,049 (588,438) 35,500
Other income, net 12,018 4,188 19,257
Realized gains, net 17,993 30,424 23,821
Total non-interest income (loss), net 393,804 (475,354) 165,844
General and administrative expenses (170,859) (115,204) (108,737)
Loan acquisition costs (16,336) (11,023) (9,935)
Other expenses (16,695) (108,785) (13,022)
Net Income (Loss) before (Provision for) Benefit from Income Taxes 338,091 (586,455) 176,623
(Provision for) benefit from income taxes (18,478) 4,608 (7,440)
Net Income (Loss) $ 319,613 $ (581,847) $ 169,183
Basic earnings (loss) per common share (in dollars per share) $ 2.73 $ (5.12) $ 1.63
Diluted earnings (loss) per common share (in dollars per share) $ 2.37 $ (5.12) $ 1.46
Basic weighted average shares outstanding (in shares) 113,230,190 113,935,605 101,120,744
Diluted weighted average shares outstanding (in shares) 142,070,301 113,935,605 136,780,594