Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited)

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Net interest income (expense):    
Interest income $ 111,382 $ 117,783
Interest expense 131,714 160,000
Net interest expense (20,332) (42,217)
Net servicing income:    
Servicing income 156,859 166,333
Servicing costs 3,197 7,119
Net servicing income 153,662 159,214
Other (loss) income:    
Loss on investment securities (32,729) (10,975)
(Loss) gain on servicing asset (36,221) 11,012
(Loss) gain on interest rate swap and swaption agreements (98,788) 98,510
Gain on other derivative instruments 1,448 47,599
Gain (loss) on mortgage loans held-for-sale 669 (3)
Other income 761 0
Total other (loss) income (164,860) 146,143
Expenses:    
Compensation and benefits 26,589 26,529
Other operating expenses 20,505 21,052
Total expenses 47,094 47,581
(Loss) income before income taxes (78,624) 215,559
Provision for income taxes 431 11,971
Net (loss) income (79,055) 203,588
Dividends on preferred stock (13,186) (11,784)
Gain on repurchase and retirement of preferred stock 0 644
Net (loss) income attributable to common stockholders $ (92,241) $ 192,448
Basic (loss) earnings per weighted average common share (in dollars per share) $ (0.89) $ 1.85
Diluted (loss) earnings per weighted average common share (in dollars per share) $ (0.89) $ 1.73
Comprehensive income:    
Net (loss) income $ (79,055) $ 203,588
Other comprehensive income (loss):    
Unrealized gain (loss) on available-for-sale securities 157,172 (103,078)
Other comprehensive income (loss) 157,172 (103,078)
Comprehensive income 78,117 100,510
Dividends on preferred stock (13,186) (11,784)
Gain on repurchase and retirement of preferred stock 0 644
Comprehensive income attributable to common stockholders $ 64,931 $ 89,370