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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
CONSOLIDATED STATEMENTS OF INCOME        
Interest income $ 153,671 $ 103,047 $ 278,076 $ 176,418
Interest expense (80,827) (55,415) (141,844) (106,176)
Net interest income before recovery of (provision for) loan losses 72,844 47,632 136,232 70,242
Recovery of (provision for) loan losses 4,390 (5,517) 2,848 (5,509)
Net interest income after recovery of (provision for) loan losses 77,234 42,115 139,080 64,733
Non-interest income        
Residential mortgage banking activities 2,947 36,690 11,371 78,099
Net realized gains on financial instruments and real estate owned 21,114 17,183 29,121 26,029
Net unrealized gain (loss) on financial instruments (3,253) 4,612 42,062 25,608
Servicing income, net of amortization and impairment of $5,660 and $9,005 for the three and six months ended June 30, 2022, and $2,604 and $4,546 for three and six months ended June 30, 2021, respectively 14,565 11,928 25,093 27,563
Income on purchased future receivables, net of allowance for (recovery of) doubtful accounts of ($565) and ($440) for the three and six months ended June 30, 2022, and $587 and $1,540 for three and six months ended June 30, 2021, respectively 1,859 2,779 4,328 5,096
Income (loss) on unconsolidated joint ventures 5,200 3,361 11,763 2,552
Other income (loss) 8,334 (688) 14,835 (117)
Total non-interest income 50,766 75,865 138,573 164,830
Non-interest expense        
Employee compensation and benefits (26,089) (24,270) (54,057) (47,047)
Allocated employee compensation and benefits from related party (1,804) (3,299) (4,804) (5,422)
Variable income (expenses) on residential mortgage banking activities 4,532 (21,421) 3,553 (36,906)
Professional fees (3,851) (2,872) (8,977) (5,854)
Management fees - related party (5,465) (2,626) (8,661) (5,319)
Incentive fees - related party   (286)   (286)
Loan servicing expense (10,296) (6,851) (19,216) (12,955)
Transaction related expenses (1,372) (1,266) (7,071) (7,573)
Other operating expenses (14,372) (17,190) (27,025) (32,674)
Total non-interest expense (58,717) (80,081) (126,258) (154,036)
Income before provision for income taxes 69,283 37,899 151,395 75,527
Income tax provision (10,318) (6,995) (28,167) (15,676)
Net income 58,965 30,904 123,228 59,851
Less: Dividends on preferred stock 1,999 3,224 3,998 3,505
Less: Net income attributable to non-controlling interest 2,874 444 3,649 1,103
Net income attributable to Ready Capital Corporation $ 54,092 $ 27,236 $ 115,581 $ 55,243
Earnings (loss) per basic common share        
Earnings per common share - basic $ 0.47 $ 0.38 $ 1.13 $ 0.85
Earnings (loss) per diluted common share        
Earnings per common share - diluted $ 0.45 $ 0.38 $ 1.07 $ 0.85
Weighted-average shares outstanding        
Basic 114,359,026 71,221,806 101,106,777 64,059,509
Diluted 125,065,492 71,385,603 111,803,431 64,209,934
Dividends declared per share of common stock $ 0.42 $ 0.42 $ 0.84 $ 0.82