Summary of Financial Information By Segment |
The following tables are a presentation of financial information by segment for the periods indicated (in thousands):
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For the three months ended September 30, 2021 |
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Gain on sale of loans, net |
|
$ |
200,294 |
|
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$ |
— |
|
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$ |
— |
|
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$ |
— |
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$ |
|
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$ |
213,958 |
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$ |
— |
|
|
$ |
(3,863 |
) |
|
$ |
210,095 |
|
Net fair value gains (losses) |
|
|
1,145 |
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|
109,408 |
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|
13,604 |
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|
|
— |
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|
|
|
) |
|
|
123,709 |
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— |
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(1,200 |
) |
|
|
122,509 |
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30,827 |
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|
1,022 |
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|
14,252 |
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|
87,592 |
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|
14,937 |
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|
148,630 |
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|
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— |
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(2,905 |
) |
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|
145,725 |
|
Net interest income (expense) |
|
|
2,807 |
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— |
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— |
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(77 |
) |
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|
(17,799 |
) |
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(15,069 |
) |
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(6,720 |
) |
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(40 |
) |
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(21,829 |
) |
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|
|
235,073 |
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|
110,430 |
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27,856 |
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|
87,515 |
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|
10,354 |
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|
471,228 |
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(6,720 |
) |
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(8,008 |
) |
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|
456,500 |
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220,331 |
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|
41,354 |
|
|
|
21,678 |
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|
78,688 |
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30,068 |
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|
392,119 |
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|
28,672 |
|
|
|
(8,913 |
) |
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|
411,878 |
|
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|
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— |
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|
221 |
|
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|
133 |
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22 |
|
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|
252 |
|
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|
628 |
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|
10,205 |
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(905 |
) |
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|
9,928 |
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Net income (loss) before taxes |
|
$ |
14,742 |
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|
$ |
69,297 |
|
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$ |
6,311 |
|
|
$ |
8,849 |
|
|
$ |
(19,462 |
) |
|
$ |
79,737 |
|
|
$ |
(25,187 |
) |
|
$ |
— |
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$ |
54,550 |
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Depreciation and amortization |
|
$ |
2,822 |
|
|
$ |
9,970 |
|
|
$ |
638 |
|
|
$ |
2,892 |
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|
$ |
18 |
|
|
$ |
16,340 |
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|
$ |
152 |
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|
$ |
— |
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$ |
16,492 |
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|
2,978,565 |
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|
789,351 |
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|
120,116 |
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358,684 |
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18,429,429 |
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22,676,145 |
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|
964,815 |
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(972,867 |
) |
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|
22,668,093 |
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April 1, 2021 to September 30, 2021 |
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Gain on sale of loans, net |
|
$ |
385,680 |
|
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
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$ |
407,092 |
|
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$ |
— |
|
|
$ |
(9,420 |
) |
|
$ |
397,672 |
|
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|
1,145 |
|
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|
203,944 |
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|
24,425 |
|
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|
— |
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|
|
240,290 |
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— |
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|
13,370 |
|
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|
253,660 |
|
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|
61,172 |
|
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|
1,976 |
|
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|
26,376 |
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|
168,722 |
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|
18,514 |
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|
276,760 |
|
|
|
— |
|
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(40,171 |
) |
|
|
236,589 |
|
Net interest income (expense) |
|
|
4,783 |
|
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|
(9 |
) |
|
|
— |
|
|
|
(92 |
) |
|
|
(33,650 |
) |
|
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(28,968 |
) |
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(13,287 |
) |
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|
(49 |
) |
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(42,304 |
) |
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|
452,780 |
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|
205,911 |
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|
50,801 |
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|
168,630 |
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|
17,052 |
|
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|
895,174 |
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|
(13,287 |
) |
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|
(36,270 |
) |
|
|
845,617 |
|
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|
444,522 |
|
|
|
83,600 |
|
|
|
41,727 |
|
|
|
151,962 |
|
|
|
63,325 |
|
|
|
785,136 |
|
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|
64,669 |
|
|
|
(37,175 |
) |
|
|
812,630 |
|
|
|
|
— |
|
|
|
325 |
|
|
|
273 |
|
|
|
105 |
|
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|
8 |
|
|
|
711 |
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|
|
8,019 |
|
|
|
(905 |
) |
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|
7,825 |
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Net income (loss) before taxes |
|
$ |
8,258 |
|
|
$ |
122,636 |
|
|
$ |
9,347 |
|
|
$ |
16,773 |
|
|
$ |
(46,265 |
) |
|
$ |
110,749 |
|
|
$ |
(69,937 |
) |
|
$ |
— |
|
|
$ |
40,812 |
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Depreciation and amortization |
|
$ |
4,255 |
|
|
$ |
9,819 |
|
|
$ |
1,059 |
|
|
$ |
5,710 |
|
|
$ |
(89 |
) |
|
$ |
20,754 |
|
|
$ |
12,199 |
|
|
$ |
— |
|
|
$ |
32,953 |
|
|
|
|
2,978,565 |
|
|
|
789,351 |
|
|
|
120,116 |
|
|
|
358,684 |
|
|
|
18,429,429 |
|
|
|
22,676,145 |
|
|
|
964,815 |
|
|
|
(972,867 |
) |
|
|
22,668,093 |
|
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|
January 1, 2021 to March 31, 2021 |
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|
|
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|
Gain on sale of loans, net |
|
$ |
286,481 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
5,065 |
|
|
$ |
291,546 |
|
|
$ |
— |
|
|
$ |
(212 |
) |
|
$ |
291,334 |
|
|
|
|
— |
|
|
|
68,449 |
|
|
|
5,431 |
|
|
|
— |
|
|
|
2,750 |
|
|
|
76,630 |
|
|
|
— |
|
|
|
33 |
|
|
|
76,663 |
|
|
|
|
32,731 |
|
|
|
524 |
|
|
|
8,930 |
|
|
|
76,383 |
|
|
|
36,191 |
|
|
|
154,759 |
|
|
|
— |
|
|
|
6,612 |
|
|
|
161,371 |
|
|
|
|
891 |
|
|
|
— |
|
|
|
— |
|
|
|
(36 |
) |
|
|
(14,816 |
) |
|
|
(13,961 |
) |
|
|
(7,744 |
) |
|
|
— |
|
|
|
(21,705 |
) |
|
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|
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|
|
320,103 |
|
|
|
68,973 |
|
|
|
14,361 |
|
|
|
76,347 |
|
|
|
29,190 |
|
|
|
508,974 |
|
|
|
(7,744 |
) |
|
|
6,433 |
|
|
|
507,663 |
|
|
|
|
224,246 |
|
|
|
23,693 |
|
|
|
13,391 |
|
|
|
62,970 |
|
|
|
24,406 |
|
|
|
348,706 |
|
|
|
18,683 |
|
|
|
5,955 |
|
|
|
373,344 |
|
|
|
|
— |
|
|
|
34 |
|
|
|
149 |
|
|
|
2 |
|
|
|
895 |
|
|
|
1,080 |
|
|
|
(9,464 |
) |
|
|
(478 |
) |
|
|
(8,862 |
) |
|
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|
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|
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|
|
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|
|
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|
|
|
|
|
|
|
|
|
|
Net income (loss) before taxes |
|
$ |
95,857 |
|
|
$ |
45,314 |
|
|
$ |
1,119 |
|
|
$ |
13,379 |
|
|
$ |
5,679 |
|
|
$ |
161,348 |
|
|
$ |
(35,891 |
) |
|
$ |
— |
|
|
$ |
125,457 |
|
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|
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|
|
|
|
|
|
|
|
|
|
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|
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|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
$ |
1,423 |
|
|
$ |
151 |
|
|
$ |
125 |
|
|
$ |
1,268 |
|
|
$ |
146 |
|
|
$ |
3,113 |
|
|
$ |
371 |
|
|
$ |
— |
|
|
$ |
3,484 |
|
|
|
|
2,425,529 |
|
|
|
35,861 |
|
|
|
82,375 |
|
|
|
125,317 |
|
|
|
17,378,088 |
|
|
|
20,047,170 |
|
|
|
379,562 |
|
|
|
(326,313 |
) |
|
|
20,100,419 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended September 30, 2020 |
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|
|
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|
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|
|
|
|
|
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|
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|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gain on sale of loans, net |
|
$ |
407,248 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
706 |
|
|
$ |
407,954 |
|
|
$ |
— |
|
|
$ |
(28 |
) |
|
$ |
407,926 |
|
|
|
|
— |
|
|
|
48,251 |
|
|
|
1,357 |
|
|
|
— |
|
|
|
46,261 |
|
|
|
95,869 |
|
|
|
— |
|
|
|
86 |
|
|
|
95,955 |
|
|
|
|
36,080 |
|
|
|
366 |
|
|
|
3,369 |
|
|
|
53,249 |
|
|
|
10,965 |
|
|
|
104,029 |
|
|
|
2,471 |
|
|
|
12,875 |
|
|
|
119,375 |
|
|
|
|
451 |
|
|
|
— |
|
|
|
— |
|
|
|
(48 |
) |
|
|
(15,999 |
) |
|
|
(15,596 |
) |
|
|
(385 |
) |
|
|
(17 |
) |
|
|
(15,998 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
443,779 |
|
|
|
48,617 |
|
|
|
4,726 |
|
|
|
53,201 |
|
|
|
41,933 |
|
|
|
592,256 |
|
|
|
2,086 |
|
|
|
12,916 |
|
|
|
607,258 |
|
|
|
|
239,847 |
|
|
|
24,634 |
|
|
|
7,064 |
|
|
|
45,304 |
|
|
|
22,989 |
|
|
|
339,838 |
|
|
|
9,615 |
|
|
|
12,916 |
|
|
|
362,369 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(2,470 |
) |
|
|
— |
|
|
|
(2,470 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) before taxes |
|
$ |
203,932 |
|
|
$ |
23,983 |
|
|
$ |
(2,338 |
) |
|
$ |
7,897 |
|
|
$ |
18,944 |
|
|
$ |
252,418 |
|
|
$ |
(9,999 |
) |
|
$ |
— |
|
|
$ |
242,419 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
$ |
1,440 |
|
|
$ |
269 |
|
|
$ |
143 |
|
|
$ |
1,067 |
|
|
$ |
12 |
|
|
$ |
2,931 |
|
|
$ |
436 |
|
|
$ |
— |
|
|
$ |
3,367 |
|
|
|
|
2,170,342 |
|
|
|
15,163 |
|
|
|
57,432 |
|
|
|
103,755 |
|
|
|
16,639,324 |
|
|
|
18,986,016 |
|
|
|
351,841 |
|
|
|
(315,842 |
) |
|
|
19,022,015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the nine months ended September 30, 2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gain on sale of loans, net |
|
$ |
832,872 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
6,323 |
|
|
|
839,195 |
|
|
$ |
— |
|
|
$ |
(2,294 |
) |
|
$ |
836,901 |
|
|
|
|
— |
|
|
|
137,529 |
|
|
|
9,939 |
|
|
|
— |
|
|
|
72,142 |
|
|
|
219,610 |
|
|
|
— |
|
|
|
2,028 |
|
|
|
221,638 |
|
|
|
|
90,402 |
|
|
|
1,478 |
|
|
|
14,555 |
|
|
|
138,819 |
|
|
|
13,357 |
|
|
|
258,611 |
|
|
|
2,514 |
|
|
|
4,877 |
|
|
|
266,002 |
|
|
|
|
1,715 |
|
|
|
— |
|
|
|
— |
|
|
|
(81 |
) |
|
|
(60,480 |
) |
|
|
(58,846 |
) |
|
|
(4,605 |
) |
|
|
(99 |
) |
|
|
(63,550 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
924,989 |
|
|
|
139,007 |
|
|
|
24,494 |
|
|
|
138,738 |
|
|
|
31,342 |
|
|
|
1,258,570 |
|
|
|
(2,091 |
) |
|
|
4,512 |
|
|
|
1,260,991 |
|
|
|
|
593,996 |
|
|
|
65,374 |
|
|
|
29,506 |
|
|
|
123,453 |
|
|
|
61,735 |
|
|
|
874,064 |
|
|
|
32,837 |
|
|
|
4,512 |
|
|
|
911,413 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(2,514 |
) |
|
|
— |
|
|
|
(2,514 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) before taxes |
|
$ |
330,993 |
|
|
$ |
73,633 |
|
|
$ |
(5,012 |
) |
|
$ |
15,285 |
|
|
$ |
(30,393 |
) |
|
$ |
384,506 |
|
|
$ |
(37,442 |
) |
|
$ |
— |
|
|
$ |
347,064 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
$ |
4,527 |
|
|
$ |
724 |
|
|
$ |
449 |
|
|
$ |
3,172 |
|
|
$ |
35 |
|
|
|
8,907 |
|
|
$ |
1,417 |
|
|
$ |
— |
|
|
$ |
10,324 |
|
|
|
|
2,170,342 |
|
|
|
15,163 |
|
|
|
57,432 |
|
|
|
103,755 |
|
|
|
16,639,324 |
|
|
|
18,986,016 |
|
|
|
351,841 |
|
|
|
(315,842 |
) |
|
$ |
19,022,015 |
|
|