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v3.22.2

Segment Information - Financial Information by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021
Segment Reporting Information [Line Items] |  |  |  |
Interest income | $ 167,455 | $ 138,695 | $ 356,855 | $ 267,000
Interest expense | (126,967) | (108,065) | (263,265) | (210,617)
Net Interest Income | 40,488 | 30,630 | 93,590 | 56,383
Non-interest (loss) income |  |  |  |
Mortgage banking activities, net | (30,017) | 54,419 | (13,702) | 137,026
Investment fair value changes, net | (87,972) | 49,480 | (94,092) | 94,567
Other income, net | 7,006 | 2,126 | 12,989 | 5,969
Realized gains, net | 0 | 8,384 | 2,581 | 11,100
Total non-interest (loss) income, net | (110,983) | 114,409 | (92,224) | 248,662
General and administrative expenses | (31,966) | (40,594) | (66,820) | (84,145)
Loan acquisition costs | (3,480) | (3,748) | (7,945) | (7,307)
Other expenses | (3,468) | (3,985) | (7,553) | (8,081)
Benefit from (provision for) income taxes | 9,443 | (6,687) | 11,901 | (18,230)
Net (Loss) Income | (99,966) | 90,025 | (69,051) | 187,282
Non-cash amortization (expense) income, net | (7,827) | (6,015) | (21,482) | (12,245)
Operating Segments | Residential Mortgage Banking |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Interest income | 13,199 | 13,246 | 26,166 | 20,825
Interest expense | (8,297) | (7,618) | (15,233) | (12,365)
Net Interest Income | 4,902 | 5,628 | 10,933 | 8,460
Non-interest (loss) income |  |  |  |
Mortgage banking activities, net | (17,787) | 21,265 | (9,852) | 82,700
Investment fair value changes, net | 0 | 0 | 0 | 0
Other income, net | 0 | 0 | 0 | 0
Realized gains, net | 0 | 0 | 0 | 0
Total non-interest (loss) income, net | (17,787) | 21,265 | (9,852) | 82,700
General and administrative expenses | (6,082) | (6,898) | (12,183) | (19,587)
Loan acquisition costs | (881) | (1,887) | (2,298) | (3,291)
Other expenses | 74 | 0 | 74 | (6)
Benefit from (provision for) income taxes | 5,588 | (3,725) | 6,595 | (13,211)
Net (Loss) Income | (14,186) | 14,383 | (6,731) | 55,065
Non-cash amortization (expense) income, net | (760) | (13) | (298) | (16)
Operating Segments | Business Purpose Mortgage Banking |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Interest income | 8,586 | 3,026 | 13,427 | 5,881
Interest expense | (4,258) | (1,521) | (6,826) | (3,120)
Net Interest Income | 4,328 | 1,505 | 6,601 | 2,761
Non-interest (loss) income |  |  |  |
Mortgage banking activities, net | (12,230) | 33,154 | (3,850) | 54,326
Investment fair value changes, net | 0 | 0 | 0 | 0
Other income, net | 1,054 | 156 | 1,629 | 278
Realized gains, net | 0 | 0 | 0 | 0
Total non-interest (loss) income, net | (11,176) | 33,310 | (2,221) | 54,604
General and administrative expenses | (11,069) | (12,356) | (21,541) | (22,550)
Loan acquisition costs | (2,599) | (1,861) | (5,647) | (3,353)
Other expenses | (3,306) | (3,873) | (6,840) | (7,650)
Benefit from (provision for) income taxes | 3,169 | (2,182) | 6,450 | (3,503)
Net (Loss) Income | (20,653) | 14,543 | (23,198) | 20,309
Non-cash amortization (expense) income, net | (3,480) | (4,054) | (7,370) | (8,152)
Operating Segments | Investment Portfolio |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Interest income | 144,478 | 121,248 | 315,050 | 237,757
Interest expense | (102,589) | (88,693) | (219,171) | (174,638)
Net Interest Income | 41,889 | 32,555 | 95,879 | 63,119
Non-interest (loss) income |  |  |  |
Mortgage banking activities, net | 0 | 0 | 0 | 0
Investment fair value changes, net | (98,111) | 49,727 | (103,517) | 95,488
Other income, net | 6,235 | 1,705 | 11,517 | 5,279
Realized gains, net | 0 | 8,384 | 2,581 | 11,100
Total non-interest (loss) income, net | (91,876) | 59,816 | (89,419) | 111,867
General and administrative expenses | (3,041) | (3,157) | (6,174) | (6,321)
Loan acquisition costs | 0 | 0 | 0 | (659)
Other expenses | (236) | (112) | (787) | (442)
Benefit from (provision for) income taxes | 686 | (780) | (1,144) | (1,516)
Net (Loss) Income | (52,578) | 88,322 | (1,645) | 166,048
Non-cash amortization (expense) income, net | (1,450) | 7 | (9,644) | (227)
Corporate/ Other |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Interest income | 1,192 | 1,175 | 2,212 | 2,537
Interest expense | (11,823) | (10,233) | (22,035) | (20,494)
Net Interest Income | (10,631) | (9,058) | (19,823) | (17,957)
Non-interest (loss) income |  |  |  |
Mortgage banking activities, net | 0 | 0 | 0 | 0
Investment fair value changes, net | 10,139 | (247) | 9,425 | (921)
Other income, net | (283) | 265 | (157) | 412
Realized gains, net | 0 | 0 | 0 | 0
Total non-interest (loss) income, net | 9,856 | 18 | 9,268 | (509)
General and administrative expenses | (11,774) | (18,183) | (26,922) | (35,687)
Loan acquisition costs | 0 | 0 | 0 | (4)
Other expenses | 0 | 0 | 0 | 17
Benefit from (provision for) income taxes | 0 | 0 | 0 | 0
Net (Loss) Income | (12,549) | (27,223) | (37,477) | (54,140)
Non-cash amortization (expense) income, net | $ (2,137) | $ (1,955) | $ (4,170) | $ (3,850)

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