For the quarter ending 2026-03-31, TWOD had -$301,803K decrease in cash & cash equivalents over the period.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 |
|---|---|---|---|
| Net income (loss) | 32,284 | 11,717 | -466,017 |
| Amortization of premiums and discounts on investment securities, net | -4,964 | -4,839 | -13,421 |
| Amortization of deferred debt issuance costs on senior notes and convertible senior notes | 218 | 629 | 1,419 |
| Provision for credit losses on investment securities | 15 | -8 | -113 |
| Realized and unrealized losses on investment securities | -10,971 | -14,440 | -81,859 |
| Loss on servicing asset | - | -65,213 | -177,019 |
| Realized and unrealized loss on interest rate swaps and swaptions | - | - | -167,920 |
| Loss on servicing asset | -42,527 | - | - |
| Unrealized gains on other derivative instruments | - | - | 24,597 |
| Realized and unrealized (gains) losses on derivative instruments | 26,938 | -162,316 | - |
| Gains on mortgage loans held-for-sale | 2,172 | 1,771 | 3,364 |
| Gain on repurchase of term notes payable and convertible senior notes | - | 0 | 0 |
| Equity based compensation | 4,422 | 3,352 | 9,999 |
| Originations and purchases of mortgage loans held-for-sale | 92,318 | 93,807 | 127,292 |
| Proceeds from sales of mortgage loans held-for-sale | 88,373 | 94,062 | 117,267 |
| Proceeds from repayment of mortgage loans held-for-sale | 5 | 3 | 1,372 |
| Increase in accrued interest receivable | 688 | 904 | -5,006 |
| Decrease (increase) in deferred income taxes, net | -4,067 | -4,139 | 12,425 |
| Decrease in accrued interest payable | -37,394 | 36,688 | -40,768 |
| Change in other operating assets and liabilities, net | -28,244 | 40,455 | -71,081 |
| Net cash provided by operating activities | 56,580 | 117,130 | -28,213 |
| Purchases of available-for-sale securities | 1,361,798 | 589,790 | 8,753,764 |
| Proceeds from sales of available-for-sale securities | 1,134,825 | 295,059 | 9,348,345 |
| Principal payments on available-for-sale securities | 173,922 | 160,900 | 602,489 |
| Purchases of mortgage servicing rights, net of purchase price adjustments | 985 | 2,418 | 101,568 |
| Proceeds from sales of mortgage servicing rights | - | 141,577 | 297,500 |
| Net proceeds (payments) on derivative instruments | -50,865 | -25,116 | 285,065 |
| Payments for reverse repurchase agreements | 545,535 | 480,758 | 2,633,726 |
| Proceeds from reverse repurchase agreements | 531,800 | 481,773 | 2,831,566 |
| Acquisition of roundpoint mortgage servicing llc, net of cash acquired | - | 0 | 0 |
| (decrease) increase in due to counterparties, net | -21,238 | -48,691 | -376,933 |
| Net cash (used in) provided by investing activities | -38,144 | -17,232 | 928,844 |
| Proceeds from repurchase agreements | 7,629,246 | 4,183,435 | 35,598,361 |
| Principal payments on repurchase agreements | 7,639,499 | 4,032,545 | 36,298,768 |
| Proceeds from revolving credit facilities | 0 | 160,000 | 213,000 |
| Principal payments on revolving credit facilities | 2,500 | 186,000 | 287,800 |
| Proceeds from warehouse facilities | 57,503 | 53,725 | 121,100 |
| Principal payments on warehouse facilities | 54,215 | 52,771 | 114,680 |
| Repayment of term notes payable | - | 0 | 0 |
| Proceeds from issuance of senior notes | - | 0 | 110,588 |
| Repayment of convertible senior notes | 261,883 | 0 | 0 |
| Repurchase and retirement of preferred stock | - | 0 | 0 |
| Proceeds from issuance of common stock, net of offering costs | 41 | 69 | 210 |
| Repurchase of common stock | - | 0 | - |
| Payment of tax withholdings on equity awards | - | 1,750 | - |
| Dividends paid on preferred stock | 13,042 | 13,323 | 38,209 |
| Dividends paid on common stock | 35,890 | 35,707 | 135,153 |
| Net cash (used in) provided by financing activities | -320,239 | 75,133 | -831,351 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | -301,803 | 175,031 | 69,280 |
| Cash, cash equivalents and restricted cash at beginning of period | 1,061,952 | 886,921 | 817,641 |
| Cash, cash equivalents and restricted cash at end of period | 760,149 | 1,061,952 | 886,921 |