v3.26.1
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents (includes pledged assets of $2,546,553 and $1,683,059, respectively) [1] $ 2,912,086 $ 2,037,838 [2]
Securities (includes pledged assets of $83,286,913 and $82,809,634, respectively) [3] 89,515,485 91,287,630 [2]
Loans, net (includes pledged assets of $6,885,511 and $4,590,517, respectively) [4] 7,280,979 5,020,784 [2]
Mortgage servicing rights (includes pledged assets of $3,472,452 and $3,541,414, respectively) 4,089,485 3,645,865 [2]
Interests in MSR 106,775 28,626 [2]
Assets transferred or pledged to securitization vehicles 38,256,690 32,067,433 [2]
Derivative assets 81,784 115,533 [2]
Reverse repurchase agreements 33,047 34,389
Receivable for unsettled trades 104,722 1,031 [2]
Principal and interest receivable 846,548 926,660 [2]
Intangible assets, net 5,380 6,726 [2]
Other assets 508,195 437,323 [2]
Total assets 143,741,176 135,609,838 [2]
Liabilities    
Repurchase agreements 86,895,874 81,865,723 [2]
Other secured financing 1,125,000 1,075,000 [2]
Debt issued by securitization vehicles 34,366,098 28,918,753 [2]
Participations issued 2,553,709 1,932,655 [2]
U.S. Treasury securities sold, not yet purchased 0 2,396,724 [2]
Derivative liabilities 247,968 53,755 [2]
Payable for unsettled trades 331,586 2,059,386 [2]
Interest payable 420,764 380,688 [2]
Dividends payable 562,931 494,881 [2]
Other liabilities 258,870 272,362 [2]
Total liabilities 126,762,800 119,449,927 [2]
Stockholders’ equity    
Preferred stock, par value $0.01 per share, 75,000,000 authorized, 74,500,000 issued and outstanding 1,802,480 1,802,480 [2]
Common stock, par value $0.01 per share, 1,456,750,000 authorized, 750,574,308 and 706,972,452 issued and outstanding, respectively 7,506 7,070 [2]
Additional paid-in capital 28,886,263 27,927,113 [2]
Accumulated other comprehensive income (loss) (557,014) (488,566) [2]
Accumulated deficit (13,213,859) (13,157,325) [2]
Total stockholders’ equity 16,925,376 16,090,772 [2]
Noncontrolling interests 53,000 69,139 [2]
Total equity 16,978,376 16,159,911 [2]
Total liabilities and equity $ 143,741,176 $ 135,609,838 [2]
[1]
(2)Includes cash of consolidated Variable Interest Entities (“VIEs”) of $8.3 million and $4.1 million at June 30, 2026 and December 31, 2025, respectively.
[2]
(1)Derived from the audited consolidated financial statements at December 31, 2025.
[3]
(3)Excludes $3.7 billion and $3.1 billion at June 30, 2026 and December 31, 2025, respectively, of non-Agency mortgage-backed securities in consolidated VIEs pledged as collateral and eliminated from the Company’s Consolidated Statements of Financial Condition. 
[4]
(4)Includes $2.1 million and $37.1 million of residential mortgage loans held for sale at June 30, 2026 and December 31, 2025, respectively.