XML 15 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Interest income $ 282,388 $ 182,341 $ 749,901 $ 444,891
Interest expense 96,488 77,558 278,401 193,408
Net interest income (expense) 185,900 104,783 471,500 251,483
Impairment        
Other-than-temporary impairment (OTTI) on securities 1,765 1,574 7,838 3,294
Valuation and loss provision on loans and real estate owned 18,275 (3,341) 41,845 2,408
Total Impairment Charges 20,040 (1,767) 49,683 5,702
Net interest income after impairment 165,860 106,550 421,817 245,781
Other Income        
Change in fair value of investments in excess mortgage servicing rights (17,060) 1,131 (24,397) (274)
Change in fair value of investments in excess mortgage servicing rights, equity method investees 6,261 8,427 8,608 16,443
Change in fair value of investments in servicer advances 21,606 (18,738) 4,328 (1,845)
Gain on consumer loans investment 0 14,385 9,943 33,342
Gain on remeasurement of consumer loans investment 0 0 71,250 0
Gain (loss) on settlement of investments, net (17,079) (21,482) (44,290) (5,514)
Other income (loss), net 32,973 (1,548) 13,458 (10,032)
Other Income 26,701 (17,825) 38,900 32,120
Operating Expenses        
General and administrative expenses 8,777 19,563 28,082 49,362
Management fee to affiliate 10,536 9,860 30,552 23,357
Incentive compensation to affiliate 7,075 1,811 13,200 7,895
Loan servicing expense 14,187 1,668 30,037 9,510
Total Operating Expenses 40,575 32,902 101,871 90,124
Income (Loss) Before Income Taxes 151,986 55,823 358,846 187,777
Income tax expense (benefit) 20,900 (5,932) 18,195 4,947
Net Income (Loss) 131,086 61,755 340,651 182,830
Noncontrolling Interests in Income of Consolidated Subsidiaries 32,178 7,193 61,355 17,174
Net Income Attributable to Common Stockholders $ 98,908 $ 54,562 $ 279,296 $ 165,656
Net Income Per Share of Common Stock        
Basic (in dollars per share) $ 0.41 $ 0.24 $ 1.19 $ 0.87
Diluted (in dollars per share) $ 0.41 $ 0.24 $ 1.19 $ 0.85
Weighted Average Number of Shares of Common Stock Outstanding        
Basic (in shares) 240,601,691 230,455,568 233,875,067 191,259,587
Diluted (in shares) 241,099,381 231,215,235 234,184,611 194,081,345
Dividend declared per Share of Common Stock (in dollars per share) $ 0.46 $ 0.46 $ 1.38 $ 1.29