Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
ASSETS    
Available-for-sale securities, at fair value (amortized cost $11,067,188 and $14,043,175, respectively; allowance for credit losses $18,170 and $22,528, respectively) $ 11,473,390 $ 14,650,922
Mortgage servicing rights, at fair value 2,091,761 1,596,153
Cash and cash equivalents 1,159,306 1,384,764
Restricted cash 812,654 1,261,667
Accrued interest receivable 40,527 47,174
Due from counterparties 60,293 146,433
Derivative assets, at fair value 55,145 95,937
Reverse repurchase agreements 76,000 91,525
Other assets 222,839 241,346
Total Assets [1] 15,991,915 19,515,921
Liabilities    
Repurchase agreements 11,676,062 15,143,898
Revolving credit facilities 443,458 283,830
Term notes payable 395,891 395,609
Convertible senior notes 423,337 286,183
Derivative liabilities, at fair value 16,162 11,058
Due to counterparties 144,270 135,838
Dividends payable 60,384 65,480
Accrued interest payable 11,906 21,666
Commitments and contingencies (see Note 15) 0 0
Other liabilities 99,729 83,433
Total Liabilities [1] 13,271,199 16,426,995
Stockholders' Equity    
Preferred stock, par value $0.01 per share; 100,000,000 shares authorized and 29,050,000 and 40,050,000 shares issued and outstanding, respectively ($726,250 and $1,001,250 liquidation preference, respectively) 702,550 977,501
Common stock, par value $0.01 per share; 700,000,000 shares authorized and 273,718,537 and 273,703,882 shares issued and outstanding, respectively 2,737 2,737
Additional paid-in capital 5,165,683 5,163,794
Accumulated other comprehensive income 370,148 641,601
Cumulative earnings 1,265,913 1,025,756
Cumulative distributions to stockholders (4,786,315) (4,722,463)
Total Stockholders’ Equity 2,720,716 3,088,926
Total Liabilities and Stockholders’ Equity $ 15,991,915 $ 19,515,921
[1] The condensed consolidated balance sheets include assets and liabilities of consolidated variable interest entities, or VIEs. At March 31, 2021 and December 31, 2020, assets of the VIEs totaled $438,019 and $496,810, and liabilities of the VIEs totaled $432,059 and $477,270, respectively. See Note 3 - Variable Interest Entities for additional information.