| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash Flows from Operating Activities: | |||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | |||||||||
172,896 | 104,795 | 88,567 | 67,560 | 78,013 | 136,191 | 68,955 | 28,182 | 4,873 | 6,805 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Net (accretion) amortization | |||||||||
55,629 | 29,338 | -197 | -7,648 | -542 | 2,671 | -13,424 | - | - | 3,248 |
Net amortization | |||||||||
- | - | - | - | - | - | - | 10,486 | 5,684 | 669 |
Realized Investment Gains (Losses) | |||||||||
32,642 | -7,775 | 31,656 | -3,645 | -4,617 | 42,091 | -10,719 | 6,268 | 5,740 | 5,362 |
Gain (Loss) on Sale of Other Investments | |||||||||
35,837 | 52,781 | 20,786 | - | - | - | - | - | - | - |
Gain on de-consolidation of multi-family loans held in securitization trusts and multi-family collateralized debt obligations | |||||||||
- | - | - | - | 1,483 | 0 | 0 | - | - | - |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (Loss), Net | |||||||||
- | - | - | 5,052 | 0 | 0 | - | - | - | - |
Gain on bargain purchase on businesses acquired | |||||||||
- | - | - | 65 | 0 | 0 | - | - | - | - |
Unrealized (gains) losses, net | |||||||||
- | - | - | 3,032 | 12,368 | 56,931 | 31,495 | 6,662 | - | - |
Net gain on distressed and other residential mortgage | |||||||||
- | - | - | 14,865 | 31,251 | 14,380 | 1,600 | 85 | - | - |
Unrealized Gain (Loss) on Derivatives | |||||||||
- | - | - | 7,070 | -2,641 | -7,667 | 5,464 | -3,947 | -9,657 | - |
Gain on sale of real estate held for sale in consolidated variable interest entities | |||||||||
1,580 | 2,328 | 0 | 0 | - | - | - | - | - | - |
Impairment of real estate under development in consolidated variable interest entities | |||||||||
1,872 | 2,764 | 0 | 0 | - | - | - | - | - | - |
Impairment loss on investment securities | |||||||||
- | - | - | - | - | - | 225 | - | 250 | 296 |
Gain (Loss) on Extinguishment of Debt | |||||||||
-2,857 | 0 | 0 | - | - | -3,397 | 0 | - | - | - |
Allowance for Loan and Lease Loss, Recovery of Bad Debts | |||||||||
2,780 | - | 1,739 | 838 | - | - | - | - | - | - |
Net decrease in loans held for sale | |||||||||
- | - | - | 432 | 323 | 87 | 341 | 935 | 31 | -32 |
Provision for Loan and Lease Losses | |||||||||
- | 1,257 | - | - | 1,363 | 1,939 | 1,262 | 766 | 1,693 | 2,230 |
Income from unconsolidated entity, preferred equity and mezzanine loan investments | |||||||||
47,840 | 37,922 | 27,164 | 22,202 | 12,997 | 4,562 | 2,297 | 622 | 2,167 | 496 |
Distributions of income from unconsolidated entity, preferred equity and mezzanine loan investments | |||||||||
24,848 | 29,358 | 20,870 | 15,801 | 9,827 | 2,238 | 1,976 | 148 | 1,079 | 234 |
Amortization of stock based compensation, net | |||||||||
5,367 | 2,582 | 1,632 | 514 | 983 | 1,180 | 897 | 826 | 210 | - |
Stock issuance, net | |||||||||
- | - | - | - | - | - | - | - | - | 225 |
Changes in operating assets and liabilities: | |||||||||
Receivables and other assets | |||||||||
41,525 | 12,471 | 18,425 | -6,756 | -10,945 | 3,631 | 18,097 | 20,660 | 2,923 | -269 |
Accrued expenses and other liabilities | |||||||||
45,094 | 10,486 | 17,836 | 4,612 | -14,819 | 9,118 | 14,457 | 18,096 | 767 | -1,959 |
Net cash provided by operating activities | |||||||||
35,101 | 24,177 | 29,332 | 53,844 | 36,336 | 37,551 | 53,303 | 29,089 | 13,414 | -305 |
Cash Flows from Investing Activities: | |||||||||
Acquisition of businesses, net of cash and restricted cash acquired | |||||||||
- | - | - | 28,447 | 0 | 0 | - | - | - | - |
Cash received from initial consolidation of variable interest entities | |||||||||
0 | 0 | 112 | 0 | - | - | - | - | - | - |
Net proceeds from sale of real estate held for sale in consolidated variable interest entities | |||||||||
3,587 | 33,192 | 0 | 0 | - | - | - | - | - | - |
Restricted cash | |||||||||
- | - | - | - | - | 10,150 | -2,467 | 20,783 | 24,326 | -1,610 |
Proceeds from sales of investment securities | |||||||||
97,951 | 26,899 | 107,062 | 208,229 | 99,235 | 93,578 | 1,254 | 50,578 | 167,805 | 46,024 |
Purchases of investment securities | |||||||||
753,734 | 393,663 | 940,597 | 423,175 | 152,883 | 20,273 | 72,183 | 1,033,924 | 291,211 | 5 |
Redemption of FHLBI stock | |||||||||
- | - | - | -5,445 | 5,445 | 0 | - | - | - | - |
Purchases of FHLBI stock | |||||||||
- | - | - | - | - | - | 0 | - | - | - |
Purchases of other assets | |||||||||
991 | 183 | 41 | 103 | 61 | 254 | 975 | - | 2,520 | - |
Capital expenditures on operating real estate and real estate held for sale in consolidated variable interest entities | |||||||||
128 | 457 | 296 | 0 | - | - | - | - | - | - |
Funding of first mortgage loan | |||||||||
- | - | - | - | - | - | 6,500 | - | - | - |
Funding of preferred equity, equity and mezzanine loan investments | |||||||||
163,883 | 112,452 | 61,814 | 46,896 | 58,215 | 49,816 | 16,788 | 3,344 | 5,322 | 19,359 |
Principal repayments received on preferred equity and mezzanine loan investments | |||||||||
42,249 | 56,718 | 19,031 | 4,464 | 4,308 | 5,590 | 0 | - | 10,909 | 956 |
Return of capital from unconsolidated entity investments | |||||||||
13,617 | 14,973 | 25,940 | 10,940 | 0 | 0 | 3,558 | 9,042 | - | - |
Proceeds from mortgage loans held for investment | |||||||||
1,580 | - | 0 | - | - | - | - | 3,344 | 5,004 | - |
(Net payments made on) received from derivative instruments settled during the period | |||||||||
36,337 | -747 | 4,683 | 933 | 5,766 | -1,124 | 11,011 | -7,191 | -4,961 | - |
Principal paydowns on investment securities - available for sale | |||||||||
227,397 | 234,438 | 228,968 | 136,836 | 105,774 | 98,877 | 125,913 | 47,684 | 19,459 | 52,174 |
Proceeds from sale of real estate owned | |||||||||
4,873 | 5,120 | 7,026 | 2,131 | 1,044 | 3,882 | 0 | - | - | - |
Principal repayments received on mortgage loans held in securitization trusts | |||||||||
- | - | - | - | - | - | - | - | - | -45,744 |
Purchases of residential mortgage loans and distressed residential mortgage loans | |||||||||
277,339 | 0 | 0 | - | - | - | - | - | - | 7,460 |
Proceeds from sales of loans held in multi-family securitization trusts | |||||||||
- | - | - | - | 65,587 | 0 | 0 | - | - | - |
Net cash used in investing activities | |||||||||
-769,065 | -642,474 | -439,943 | 68,855 | 250,517 | -125,016 | -152,287 | -1,066,382 | -95,291 | 119,684 |
Cash Flows from Financing Activities: | |||||||||
Net proceeds from repurchase agreements | |||||||||
972,207 | 704,763 | 459,733 | 175,993 | -99,011 | 99,789 | -98,009 | 776,460 | 77,042 | -49,474 |
Proceeds from issuance of convertible notes | |||||||||
0 | 0 | 126,995 | 0 | 0 | - | - | - | - | - |
Capital distributed to non-controlling interest | |||||||||
- | - | - | - | - | - | - | 932 | -932 | - |
Proceeds from issuance of securitized debt | |||||||||
- | - | - | 166,347 | 0 | 0 | 191,705 | 114,716 | - | - |
Common stock issuance, net | |||||||||
804,398 | 260,091 | 930 | 13,496 | 31,799 | 296,546 | 100,207 | 232,668 | 30,382 | - |
Proceeds from Issuance of Preferred Stock and Preference Stock | |||||||||
215,073 | 0 | 130,496 | 0 | 86,862 | 0 | 72,397 | - | - | - |
Dividends paid on common stock | |||||||||
163,364 | 97,911 | 93,872 | - | - | - | - | - | - | - |
Dividends paid on preferred stock | |||||||||
24,651 | 23,760 | 12,900 | - | - | - | - | - | - | - |
Costs associated with common stock and preferred stock issued | |||||||||
- | - | - | - | - | - | - | 1,032 | 686 | - |
Payments made on mortgages and notes payable in consolidated variable interest entities | |||||||||
4,022 | 27,067 | 1,485 | 0 | 0 | - | - | - | - | - |
Proceeds from mortgages and notes payable in consolidated variable interest entities | |||||||||
0 | 1,154 | 5,414 | 0 | - | - | - | - | - | - |
Payments made on residential collateralized debt obligations | |||||||||
15,578 | 17,338 | 21,442 | - | - | - | - | - | - | - |
Payments made on multi-family collateralized debt obligations | |||||||||
992,075 | 137,803 | 137,160 | - | - | - | - | - | - | - |
Extinguishment of and payments made on securitized debt | |||||||||
45,557 | 40,882 | 79,433 | 126,018 | 116,136 | 75,796 | 7,408 | 184 | - | 46,950 |
Redemption of preferred equity | |||||||||
- | - | - | 16,255 | 0 | 0 | - | - | - | 20,000 |
Net cash provided by financing activities | |||||||||
746,431 | 621,247 | 377,276 | -65,911 | -333,940 | 131,265 | 99,005 | 1,052,484 | 79,088 | -124,526 |
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash | |||||||||
12,467 | 2,950 | -33,335 | 56,788 | -47,087 | 43,800 | 21 | 15,191 | -2,789 | -5,147 |
Supplemental Disclosure: | |||||||||
Cash paid for interest | |||||||||
622,720 | 430,121 | 344,390 | 300,992 | 307,162 | 352,232 | 268,552 | 115,656 | 4,669 | 9,730 |
Cash paid for income taxes | |||||||||
21 | 1,711 | 3,952 | 4,061 | 4,922 | 8,295 | 794 | 1,207 | 232 | - |
Non-Cash Investment Activities: | |||||||||
Sale of securities not yet settled | |||||||||
- | - | - | - | - | - | - | - | 1,133 | - |
Purchase of investment securities not yet settled | |||||||||
- | - | - | 148,015 | 227,969 | 283,537 | 191,592 | - | - | - |
Transfer from residential loans to real estate owned | |||||||||
6,105 | 7,998 | 7,228 | 8,892 | 2,579 | - | - | - | - | - |
Transfer of investment securities from investment in limited liability company | |||||||||
- | - | - | - | - | - | - | - | 5,463 | - |
Non-Cash Financing Activities: | |||||||||
Mortgages and notes payable assumed by purchaser of real estate held for sale in consolidated variable interest entities | |||||||||
27,260 | 0 | 0 | - | - | - | - | - | - | - |
Cash, Cash Equivalents and Restricted Cash Reconciliation: | |||||||||
Distressed Residential Mortgage Loans [Member] | |||||||||
Principal repayments received on loans | |||||||||
- | - | - | 23,648 | - | - | - | - | - | - |
Distressed residential mortgage loans held in securitization trusts (net) | |||||||||
Principal repayments received on loans | |||||||||
254,935 | 155,338 | 245,582 | 122,552 | - | - | - | - | - | - |
Multi Family Collateralized Debt Obligations [Member] | |||||||||
Principal repayments received on loans | |||||||||
992,912 | 137,820 | 137,164 | 136,331 | - | - | - | - | - | - |
Purchases of distressed and other residential mortgage loans | |||||||||
- | - | - | 0 | - | - | - | - | - | - |
Consolidation of multi-family collateralized debt obligations | |||||||||
6,253,739 | 2,182,330 | 2,784,377 | 0 | - | 0 | 3,146,676 | 5,195,166 | - | - |
Residential Mortgage Loans And Distressed Residential Mortgage Loans [Member] | |||||||||
Purchases of residential mortgage loans and distressed residential mortgage loans | |||||||||
829,519 | 688,750 | 101,250 | - | - | - | - | - | - | - |
Distressed residential mortgage loans | |||||||||
Purchases of residential mortgage loans and distressed residential mortgage loans | |||||||||
- | - | - | 82,167 | - | - | - | - | - | - |
Multi-family loans held in securitization trusts | |||||||||
Purchases of residential mortgage loans and distressed residential mortgage loans | |||||||||
346,235 | 112,214 | 102,147 | - | - | - | - | - | - | - |
Consolidation of multi-family loans held in securitization trusts | |||||||||
6,599,974 | 2,294,544 | 2,886,525 | 0 | - | 0 | 3,218,301 | 5,305,933 | - | - |
Common Stock [Member] | |||||||||
Dividends paid on stock | |||||||||
- | - | - | 105,108 | - | - | - | - | - | 8,102 |
Preferred Stock | |||||||||
Dividends paid on stock | |||||||||
- | - | - | 12,900 | - | - | - | - | - | - |
Residential collateralized debt obligations | |||||||||
Payments of secured debt | |||||||||
- | - | - | 25,152 | - | - | - | - | - | - |
Collateralized debt obligation | |||||||||
Payments of secured debt | |||||||||
- | - | - | 136,314 | - | - | - | - | - | - |
Residential Mortgage Loans Held in Securitization [Member] | |||||||||
Consolidation of multi-family loans held in securitization trusts | |||||||||
1,333,060 | 0 | 0 | - | - | - | - | - | - | - |
Residential Collateralized Debt Obligations [Member] | |||||||||
Consolidation of multi-family collateralized debt obligations | |||||||||
1,055,720 | 0 | 0 | - | - | - | - | - | - | - |