v3.25.2
Segment Information - Statements of Income (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
segment
Jun. 30, 2024
USD ($)
Segment Information        
Number of business segments | segment     2  
Interest income $ 240,303 $ 297,188 $ 480,997 $ 618,480
Interest expense 171,578 209,227 336,829 426,903
Net interest income 68,725 87,961 144,168 191,577
Other revenue:        
Gain on sales, including fee-based services, net 13,658 17,448 26,439 34,114
Mortgage servicing rights 10,930 14,534 19,061 24,733
Servicing revenue 45,204 46,797 88,565 94,954
Amortization of MSRs (17,767) (16,887) (35,525) (33,518)
Property operating income 5,452 1,444 9,839 3,014
Gain (loss) on derivative instruments, net 219 (275) 3,619 (5,533)
Other income, net 3,989 2,081 8,407 4,414
Total other revenue 61,685 65,142 120,405 122,178
Other expenses:        
Employee compensation and benefits 36,923 37,254 78,346 79,224
Commissions 4,258 5,582 8,871 11,305
Selling and administrative 14,859 12,823 31,171 26,756
Property operating expenses 6,802 1,584 10,276 3,262
Depreciation and amortization 5,848 2,423 9,592 4,994
Provision for loss sharing (net of recoveries) 4,215 4,333 6,002 4,607
Provision for credit losses (net of recoveries) 19,004 29,564 28,079 48,682
Total other expenses 91,909 93,563 172,337 178,830
Income before extinguishment of debt, (loss) gain on real estate, income from equity affiliates and income taxes 38,501 59,540 92,236 134,925
Loss on extinguishment of debt 0 (412) (2,319) (412)
(Loss) gain on real estate (1,448) 3,813 (4,258) 3,813
Income from equity affiliates 2,654 2,793 1,020 4,211
Benefit from (provision for) income taxes (3,398) (3,901) (6,989) (7,493)
Net income 36,309 61,833 79,690 135,044
Preferred stock dividends 10,342 10,342 20,684 20,684
Net income attributable to noncontrolling interest 2,015 4,094 4,617 9,090
Net income attributable to common stockholders 23,952 47,397 $ 54,389 105,270
Reporting segments | segment     2  
Operating segments | Structured Business        
Segment Information        
Interest income 229,980 282,077 $ 460,067 589,965
Interest expense 165,858 203,062 327,437 415,661
Net interest income 64,122 79,015 132,630 174,304
Other revenue:        
Gain on sales, including fee-based services, net 0 0 0 0
Mortgage servicing rights 0 0 0 0
Servicing revenue 0 0 0 0
Amortization of MSRs 0 0 0 0
Property operating income 5,452 1,444 9,839 3,014
Gain (loss) on derivative instruments, net 0 0 0 0
Other income, net 2,105 1,975 4,183 4,275
Total other revenue 7,557 3,419 14,022 7,289
Other expenses:        
Employee compensation and benefits 16,018 15,805 34,175 34,352
Commissions 0 0 0 0
Selling and administrative 7,590 5,828 16,521 12,624
Property operating expenses 6,802 1,584 10,276 3,262
Depreciation and amortization 5,456 1,250 8,809 2,648
Provision for loss sharing (net of recoveries) 0 0 0 0
Provision for credit losses (net of recoveries) 16,112 28,030 25,266 45,806
Total other expenses 51,978 52,497 95,047 98,692
Income before extinguishment of debt, (loss) gain on real estate, income from equity affiliates and income taxes 19,701 29,937 51,605 82,901
Loss on extinguishment of debt   (412) (2,319) (412)
(Loss) gain on real estate (1,448) 3,813 (4,258) 3,813
Income from equity affiliates 2,654 2,793 1,020 4,211
Benefit from (provision for) income taxes (1,277) 865 (639) 784
Net income 19,630 36,996 45,409 91,297
Preferred stock dividends 10,342 10,342 20,684 20,684
Net income attributable to noncontrolling interest 0 0 0 0
Net income attributable to common stockholders 9,288 26,654 24,725 70,613
Operating segments | Agency Business        
Segment Information        
Interest income 10,323 15,111 20,930 28,515
Interest expense 5,720 6,165 9,392 11,242
Net interest income 4,603 8,946 11,538 17,273
Other revenue:        
Gain on sales, including fee-based services, net 13,658 17,448 26,439 34,114
Mortgage servicing rights 10,930 14,534 19,061 24,733
Servicing revenue 45,204 46,797 88,565 94,954
Amortization of MSRs (17,767) (16,887) (35,525) (33,518)
Property operating income 0 0 0 0
Gain (loss) on derivative instruments, net 219 (275) 3,619 (5,533)
Other income, net 1,884 106 4,224 139
Total other revenue 54,128 61,723 106,383 114,889
Other expenses:        
Employee compensation and benefits 20,905 21,449 44,171 44,872
Commissions 4,258 5,582 8,871 11,305
Selling and administrative 7,269 6,995 14,650 14,132
Property operating expenses 0 0 0 0
Depreciation and amortization 392 1,173 783 2,346
Provision for loss sharing (net of recoveries) 4,215 4,333 6,002 4,607
Provision for credit losses (net of recoveries) 2,892 1,534 2,813 2,876
Total other expenses 39,931 41,066 77,290 80,138
Income before extinguishment of debt, (loss) gain on real estate, income from equity affiliates and income taxes 18,800 29,603 40,631 52,024
Loss on extinguishment of debt   0 0 0
(Loss) gain on real estate 0 0 0 0
Income from equity affiliates 0 0 0 0
Benefit from (provision for) income taxes (2,121) (4,766) (6,350) (8,277)
Net income 16,679 24,837 34,281 43,747
Preferred stock dividends 0 0 0 0
Net income attributable to noncontrolling interest 0 0 0 0
Net income attributable to common stockholders 16,679 24,837 34,281 43,747
Other/Eliminations        
Other expenses:        
Net income attributable to noncontrolling interest 2,015 4,094 4,617 9,090
Net income attributable to common stockholders $ (2,015) $ (4,094) $ (4,617) $ (9,090)