Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Revenue    
Loan origination fees and gain on sale of loans, net $ 1,759,871,000 $ 820,814,000
Loan servicing and other fees 160,237,000 142,705,000
Valuation adjustment of mortgage servicing rights (296,307,000) (255,219,000)
Interest income 57,649,000 58,787,000
Interest expense (60,168,000) (55,391,000)
Other income, net 765,000 1,193,000
Net revenue 1,622,047,000 712,889,000
Expenses    
Salaries, incentive compensation and benefits 953,758,000 578,170,000
General and administrative 101,948,000 63,983,000
Occupancy, equipment and communication 57,070,000 53,678,000
Depreciation and amortization 7,501,000 7,333,000
Provision for foreclosure losses 7,700,000 3,895,000
Total expenses 1,127,977,000 707,059,000
Income before income tax expense 494,070,000 5,830,000
Income tax expense 123,493,000 253,000
Net income $ 370,577,000 $ 5,577,000
Weighted average shares outstanding of Class A and Class B Common Stock:    
Basic 60,000  
Diluted 60,056  
Class A and Class B Common Stock    
Expenses    
Net income $ 370,577,000  
Net income per share attributable to Class A and Class B Common Stock:    
Basic $ 6.18  
Diluted $ 6.17  
Weighted average shares outstanding of Class A and Class B Common Stock:    
Basic 60,000,000  
Diluted 60,056,000