| Schedule of Segment Reporting Information, by Segment |
The following tables summarize segment financial information, which in total reconciles to the same data for the Company as a whole:
| | | | | | | | | | | | | | | | | | | | | | | | | | | (In Thousands) | | Mortgage-Related Assets | | Lima One | | Corporate | | Total | | Three months ended March 31, 2026 | | | | | | | | | | Interest Income | | $ | 148,188 | | | $ | 42,137 | | | $ | 1,601 | | | $ | 191,926 | | | Interest Expense | | 101,262 | | | 26,906 | | | 4,568 | | | 132,736 | | | Net Interest Income/(Expense) | | $ | 46,926 | | | $ | 15,231 | | | $ | (2,967) | | | $ | 59,190 | | | Reversal/(Provision) for Credit Losses on Residential Whole Loans | | 242 | | | — | | | — | | | 242 | | | Reversal/(Provision) for Credit Losses on Other Assets | | — | | | — | | | — | | | — | | | Net Interest Income/(Expense) after Reversal/(Provision) for Credit Losses | | $ | 47,168 | | | $ | 15,231 | | | $ | (2,967) | | | $ | 59,432 | | | | | | | | | | | | Net gain/(loss) on residential whole loans measured at fair value through earnings | | $ | (24,237) | | | $ | (10,524) | | | $ | — | | | $ | (34,761) | | | Impairment and other net gain/(loss) on securities and other portfolio investments | | (38,688) | | | 13 | | | 405 | | | (38,270) | | | Net gain/(loss) on real estate owned | | 383 | | | (3,364) | | | — | | | (2,981) | | | Net gain/(loss) on derivatives used for risk management purposes | | 28,064 | | | 2,662 | | | — | | | 30,726 | | | Net gain/(loss) on securitized debt measured at fair value through earnings | | 16,134 | | | 3,711 | | | — | | | 19,845 | | | Lima One mortgage banking income | | — | | | 7,660 | | | — | | | 7,660 | | | Net realized gain/(loss) on residential whole loans held at carrying value | | — | | | — | | | — | | | — | | | Other, net | | 929 | | | (2,901) | | | 3,868 | | | 1,896 | | | Other Income/(Loss), net | | $ | (17,415) | | | $ | (2,743) | | | $ | 4,273 | | | $ | (15,885) | | | | | | | | | | | | Compensation and benefits | | $ | — | | | $ | 8,882 | | | $ | 13,277 | | | $ | 22,159 | | | Other general and administrative expense | | — | | | 4,313 | | | 7,841 | | | 12,154 | | | Loan servicing, financing and other related costs | | 3,609 | | | 2,354 | | | 3,955 | | | 9,918 | | | Amortization of intangible assets | | — | | | 300 | | | — | | | 300 | | | Income/(loss) before income taxes | | $ | 26,144 | | | $ | (3,361) | | | $ | (23,767) | | | $ | (984) | | | Provision for/(benefit from) income taxes | | — | | | — | | | — | | | — | | | Net Income/(Loss) | | $ | 26,144 | | | $ | (3,361) | | | $ | (23,767) | | | $ | (984) | | | | | | | | | | | | Less Preferred Stock Dividend Requirement | | $ | — | | | $ | — | | | $ | 10,424 | | | $ | 10,424 | | | Net Income/(Loss) Available to Common Stock and Participating Securities | | $ | 26,144 | | | $ | (3,361) | | | $ | (34,191) | | | $ | (11,408) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | (In Thousands) | | Mortgage-Related Assets | | Lima One | | Corporate | | Total | | Three months ended March 31, 2025 | | | | | | | | | | Interest Income | | $ | 112,767 | | | $ | 65,272 | | | $ | 2,466 | | | $ | 180,505 | | | Interest Expense | | 77,361 | | | 41,070 | | | 4,537 | | | 122,968 | | | Net Interest Income/(Expense) | | $ | 35,406 | | | $ | 24,202 | | | $ | (2,071) | | | $ | 57,537 | | Reversal/(Provision) for Credit Losses on Residential Whole Loans | | (145) | | | — | | | — | | | (145) | | | Provision for Credit Losses on Other Assets | | — | | | — | | | — | | | — | | | Net Interest Income/(Expense) after Reversal/(Provision) for Credit Losses | | $ | 35,261 | | | $ | 24,202 | | | $ | (2,071) | | | $ | 57,392 | | | | | | | | | | | | Net gain/(loss) on residential whole loans measured at fair value through earnings | | $ | 48,663 | | | $ | 5,717 | | | $ | — | | | $ | 54,380 | | | Impairment and other net gain/(loss) on securities and other portfolio investments | | 20,435 | | | (9) | | | 753 | | | 21,179 | | | Net gain/(loss) on real estate owned | | 69 | | | (1,577) | | | — | | | (1,508) | | | Net gain/(loss) on derivatives used for risk management purposes | | (25,562) | | | (5,493) | | | — | | | (31,055) | | | Net gain/(loss) on securitized debt measured at fair value through earnings | | (17,149) | | | (4,782) | | | — | | | (21,931) | | | Lima One mortgage banking income | | — | | | 5,437 | | | — | | | 5,437 | | | Net realized gain/(loss) on residential whole loans held at carrying value | | (539) | | | — | | | — | | | (539) | | | Other, net | | (745) | | | (1,996) | | | 1,290 | | | (1,451) | | | Other Income/(Loss), net | | $ | 25,172 | | | $ | (2,703) | | | $ | 2,043 | | | $ | 24,512 | | | | | | | | | | | | Compensation and benefits | | $ | — | | | $ | 9,793 | | | $ | 13,464 | | | $ | 23,257 | | | Other general and administrative expense | | 8 | | | 4,376 | | | 5,907 | | | 10,291 | | | Loan servicing, financing and other related costs | | 4,243 | | | 1,148 | | | 1,861 | | | 7,252 | | | Amortization of intangible assets | | — | | | 800 | | | — | | | 800 | | | Income/(loss) before income taxes | | $ | 56,182 | | | $ | 5,382 | | | $ | (21,260) | | | $ | 40,304 | | | Provision for/(benefit from) income taxes | | — | | | — | | | (872) | | | (872) | | Net Income/(Loss) | | $ | 56,182 | | | $ | 5,382 | | | $ | (20,388) | | | $ | 41,176 | | | | | | | | | | | | Less Preferred Stock Dividend Requirement | | $ | — | | | $ | — | | | $ | 8,219 | | | $ | 8,219 | | | Net Income/(Loss) Available to Common Stock and Participating Securities | | $ | 56,182 | | | $ | 5,382 | | | $ | (28,607) | | | $ | 32,957 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | (In Thousands) | | Mortgage-Related Assets | | Lima One | | Corporate | | Total | | March 31, 2026 | | | | | | | | | | Total Assets | | $ | 10,507,268 | | | $ | 2,469,863 | | | $ | 252,440 | | | $ | 13,229,571 | | | | | | | | | | | | December 31, 2025 | | | | | | | | | | Total Assets | | $ | 10,128,088 | | | $ | 2,632,740 | | | $ | 285,621 | | | $ | 13,046,449 | |
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