Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2021
Mar. 31, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUES          
Gain on sale and other income from mortgage loans held for sale, net $ 210,095 $ 291,334 $ 407,926 $ 397,672 $ 836,901
Net fair value gains on mortgage loans and related obligations 122,509 76,663 95,955 253,660 221,638
Fee income 145,725 161,371 119,375 236,589 266,002
Net interest expense:          
Interest income 15,862 12,661 9,937 29,013 29,615
Interest expense (37,691) (34,366) (25,935) (71,317) (93,165)
Net interest expense (21,829) (21,705) (15,998) (42,304) (63,550)
TOTAL REVENUES 456,500 507,663 607,258 845,617 1,260,991
EXPENSES          
Salaries, benefits and related expenses 262,000 238,530 240,381 536,731 615,034
Occupancy, equipment rentals and other office related expenses 8,283 7,597 8,184 15,003 22,795
General and administrative expenses 141,595 127,217 113,804 260,896 273,584
TOTAL EXPENSES 411,878 373,344 362,369 812,630 911,413
OTHER, NET 9,928 (8,862) (2,470) 7,825 (2,514)
NET INCOME BEFORE INCOME TAXES 54,550 125,457 242,419 40,812 347,064
Provision for income taxes 4,440 1,137 808 5,526 1,574
NET INCOME 50,110 124,320 241,611 35,286 345,490
CRCNI 0 4,260 (4,953) 0 (22,959)
Noncontrolling interest 28,726 201 276 11,637 1,076
NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST $ 21,384 $ 119,859 $ 246,288 $ 23,649 $ 367,373
EARNINGS PER SHARE (Note 28)          
Basic weighted average shares outstanding 59,861,171     59,871,386  
Basic net income per share $ 0.36     $ 0.39  
Diluted weighted average shares outstanding 191,161,431     191,180,610  
Diluted net income per share $ 0.22     $ 0.17