CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Net interest expense: | ||||
| Interest income | $ 83,536 | $ 117,082 | $ 172,186 | $ 228,464 |
| Interest expense | 89,557 | 136,701 | 184,718 | 268,415 |
| Net interest expense | (6,021) | (19,619) | (12,532) | (39,951) |
| Net servicing income: | ||||
| Servicing income | 129,070 | 158,354 | 259,213 | 315,213 |
| Servicing costs | 3,211 | 2,386 | 5,059 | 5,583 |
| Net servicing income | 125,859 | 155,968 | 254,154 | 309,630 |
| Other income (loss): | ||||
| Loss on investment securities | (2,123) | (32,830) | (13,109) | (65,559) |
| Loss on servicing asset | (47,239) | (35,902) | (91,248) | (72,123) |
| Gain (loss) on derivative instruments | 46,678 | (84,207) | 62,319 | (181,547) |
| Gain on mortgage loans held-for-sale | 704 | 883 | 2,756 | 1,552 |
| Other income | 1,735 | 1,038 | 3,052 | 1,799 |
| Total other loss | (245) | (151,018) | (36,230) | (315,878) |
| Expenses: | ||||
| Compensation and benefits | 23,309 | 21,469 | 50,007 | 48,058 |
| Other operating expenses | 28,088 | 21,307 | 50,837 | 41,812 |
| Loss contingency accrual | 0 | 199,935 | 0 | 199,935 |
| Total expenses | 51,397 | 242,711 | 100,844 | 289,805 |
| Income (loss) before income taxes | 68,196 | (257,380) | 104,548 | (336,004) |
| Provision for income taxes | 5,951 | 1,661 | 10,019 | 2,092 |
| Net income (loss) | 62,245 | (259,041) | 94,529 | (338,096) |
| Dividends on preferred stock | (12,866) | (13,239) | (25,673) | (26,425) |
| Net income (loss) attributable to common stockholders | $ 49,379 | $ (272,280) | $ 68,856 | $ (364,521) |
| Basic earnings (loss) per weighted average common share (in usd per share) | $ 0.47 | $ (2.62) | $ 0.65 | $ (3.51) |
| Diluted earnings (loss) per weighted average common share (in usd per share) | $ 0.46 | $ (2.62) | $ 0.65 | $ (3.51) |
| Comprehensive income (loss): | ||||
| Net income (loss) | $ 62,245 | $ (259,041) | $ 94,529 | $ (338,096) |
| Other comprehensive (loss) income: | ||||
| Unrealized (loss) gain on available-for-sale securities | (1,458) | 50,473 | (45,649) | 207,645 |
| Other comprehensive (loss) income | (1,458) | 50,473 | (45,649) | 207,645 |
| Comprehensive income (loss) | 60,787 | (208,568) | 48,880 | (130,451) |
| Dividends on preferred stock | (12,866) | (13,239) | (25,673) | (26,425) |
| Comprehensive income (loss) attributable to common stockholders | $ 47,921 | $ (221,807) | $ 23,207 | $ (156,876) |
| X | ||||||||||
- Definition Comprehensive income after adjustments for dividends on preferred stock (declared in the period). No definition available.
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- Definition Amount, after deduction of tax, noncontrolling interests and dividends on preferred stock; of income (loss) available to common shareholders. No definition available.
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- Definition Amount of contractually specified servicing fee, late fee, and ancillary fee recognized as income for servicing asset and servicing liability, net of all servicing-related costs. No definition available.
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- Definition Amount of contractually specified servicing fee, late fee, and ancillary fee recognized as income for servicing asset and servicing liability, net of all servicing-related costs. No definition available.
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- Definition The total net increase or decrease in fair value as a result of changes in the inputs, assumptions or model used to calculated the fair value of servicing assets, as well as other changes in fair value that are not additions or disposals. No definition available.
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| X | ||||||||||
- Definition All amounts that, per contract, are due to the subservicer in exchange for servicing the mortgage servicing rights held by the entity. Depending on the servicing contract, those fees may include some or all of the difference between the interest rate collected on the asset being serviced and the rate to be paid to the entity (the beneficial owners of the asset). No definition available.
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- References No definition available.
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of contractually specified servicing fee, late fee, and ancillary fee recognized as income for servicing asset and servicing liability. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The net gain (loss) resulting from a sale of loans, including adjustments to record loans classified as held-for-sale at the lower-of-cost-or-market and fair value adjustments to loan held for investment purposes. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of interest expense classified as operating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of interest income (expense) classified as operating. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of loss (reversal of loss) recognized for loss contingency liability. Includes, but is not limited to, effect of revision in previously reported estimate. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of realized and unrealized gain (loss) on investment in marketable security. No definition available.
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| X | ||||||||||
- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount, after tax and adjustment, of unrealized gain (loss) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale) and unrealized gain (loss) on investment in debt security measured at amortized cost (held-to-maturity) from transfer to available-for-sale. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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| X | ||||||||||
- Definition The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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