Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

v3.21.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
ASSETS    
Available-for-sale securities, at fair value (amortized cost $6,369,038 and $14,043,175, respectively; allowance for credit losses $15,429 and $22,528, respectively) $ 6,664,744 $ 14,650,922
Mortgage servicing rights, at fair value 2,213,312 1,596,153
Cash and cash equivalents 1,076,216 1,384,764
Restricted cash 783,974 1,261,667
Accrued interest receivable 27,676 47,174
Due from counterparties 336,554 146,433
Derivative assets, at fair value 53,044 95,937
Reverse repurchase agreements 85,000 91,525
Other assets 244,028 241,346
Total Assets [1] 11,484,548 19,515,921
Liabilities    
Repurchase agreements 7,123,701 15,143,898
Revolving credit facilities 420,761 283,830
Term notes payable 396,479 395,609
Convertible senior notes 424,270 286,183
Derivative liabilities, at fair value 82,895 11,058
Due to counterparties 112,255 135,838
Dividends payable 67,311 65,480
Accrued interest payable 10,523 21,666
Commitments and contingencies (see Note 15) 0 0
Other liabilities 111,465 83,433
Total Liabilities [1] 8,749,660 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 313,900,227 and 273,703,882 shares issued and outstanding, respectively 3,139 2,737
Additional paid-in capital 5,429,155 5,163,794
Accumulated other comprehensive income 299,899 641,601
Cumulative earnings 1,214,277 1,025,756
Cumulative distributions to stockholders (4,914,132) (4,722,463)
Total Stockholders’ Equity 2,734,888 3,088,926
Total Liabilities and Stockholders’ Equity $ 11,484,548 $ 19,515,921
[1] The condensed consolidated balance sheets include assets and liabilities of consolidated variable interest entities, or VIEs. At September 30, 2021 and December 31, 2020, assets of the VIEs totaled $435,434 and $496,810, and liabilities of the VIEs totaled $426,647 and $477,270, respectively. See Note 3 - Variable Interest Entities for additional information.