v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets:    
Residential whole loans, net ($7,628,635 and $7,511,210 held at fair value, respectively) [1],[2] $ 8,819,525 $ 8,811,224
Securities, at fair value [2] 1,829,809 1,537,513
Cash and cash equivalents 275,731 338,931
Restricted cash 269,224 262,381
Other assets [2] 480,398 459,555
Total Assets 11,674,687 11,409,604
Liabilities:    
Financing agreements ($5,648,623 and $5,516,005 held at fair value, respectively) 9,505,802 9,155,461
Other liabilities 346,758 412,351
Total Liabilities 9,852,560 9,567,812
Commitments and contingencies (See Note 9)
Stockholders’ Equity:    
Common stock, $0.01 par value; 874,300 and 874,300 shares authorized; 102,669 and 102,083 shares issued and outstanding, respectively 1,027 1,021
Additional paid-in capital, in excess of par 3,715,943 3,711,046
Accumulated deficit (1,899,922) (1,879,941)
Accumulated other comprehensive income 4,889 9,476
Total Stockholders’ Equity 1,822,127 1,841,792
Total Liabilities and Stockholders’ Equity 11,674,687 11,409,604
Series B Preferred Stock    
Stockholders’ Equity:    
Preferred stock 80 80
Series C Preferred Stock    
Stockholders’ Equity:    
Preferred stock $ 110 $ 110
[1] Includes approximately $7.1 billion and $6.9 billion of Residential whole loans transferred to consolidated variable interest entities (“VIEs”) at June 30, 2025 and December 31, 2024, respectively. Such assets can be used only to settle the obligations of each respective VIE.
[2] See Note 6 for information regarding the Company’s pledged assets.