Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING AND VARIABLE INTEREST ENTITIES - Schedule of Segment Reporting (Details)

v2.4.0.6
SEGMENT REPORTING AND VARIABLE INTEREST ENTITIES - Schedule of Segment Reporting (Details) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest income $ 82,438 $ 74,143 $ 157,337 $ 146,346
Interest expense 29,462 35,750 59,627 73,915
Net interest income 52,976 38,393 97,710 72,431
Impairment (reversal) 8,499 (9,067) 1,419 (46,273)
Other income (loss) (1,359) 58,889 28,393 104,358
Expenses 12,940 7,404 21,299 14,254
Income (loss) from continuing operations 30,178 98,945 103,385 208,808
Income (loss) from discontinued operations 261 190 525 0
Net Income 30,439 99,135 103,910 208,808
Preferred dividends (1,395) (1,395) (2,790) (2,790)
Income Available for Common Stockholders 29,044 97,740 101,120 206,018
Investments 3,947,419   3,947,419  
Cash and restricted cash 165,339   165,339  
Derivative Assets 966   966  
Other assets 79,966   79,966  
Total assets 4,193,690   4,193,690  
Debt (3,309,652)   (3,309,652)  
Other liabilities (179,499)   (179,499)  
Total liabilities (3,590,960)   (3,590,960)  
Preferred Stock (61,583)   (61,583)  
GAAP book value 541,147   541,147  
CDOs
        
Interest income 56,038 56,571 110,440 111,399
Interest expense 17,004 22,672 34,640 47,285
Net interest income 39,034 33,899 75,800 64,114
Impairment (reversal) 7,742 (5,913) (789) (44,158)
Other income (loss) (5,380) 55,127 24,533 98,234
Expenses 242 326 483 639
Income (loss) from continuing operations 25,670 94,613 100,639 205,867
Income (loss) from discontinued operations 0 0 0 0
Net Income 25,670 94,613 100,639 205,867
Preferred dividends 0 0 0 0
Income Available for Common Stockholders 25,670 94,613 100,639 205,867
Investments 2,509,771   2,509,771  
Cash and restricted cash 62,692   62,692  
Derivative Assets 966   966  
Other assets 51,457   51,457  
Total assets 2,624,886   2,624,886  
Debt (2,356,186)   (2,356,186)  
Derivative Liabilities (101,809)   (101,809)  
Other liabilities (31,861)   (31,861)  
Total liabilities (2,489,856)   (2,489,856)  
Preferred Stock 0   0  
GAAP book value 135,030   135,030  
Unlevered CDOs Segment
        
Interest income 115 12 230 23
Interest expense 0 0 0 0
Net interest income 115 12 230 23
Impairment (reversal) 0 0 0 0
Other income (loss) 84 3,452 176 3,527
Expenses 0 0 1 0
Income (loss) from continuing operations 199 3,464 405 3,550
Income (loss) from discontinued operations 0 0 0 0
Net Income 199 3,464 405 3,550
Preferred dividends 0 0 0 0
Income Available for Common Stockholders 199 3,464 405 3,550
Investments 3,957   3,957  
Cash and restricted cash 0   0  
Derivative Assets 0   0  
Other assets 6   6  
Total assets 3,963   3,963  
Debt 0   0  
Derivative Liabilities 0   0  
Other liabilities 0   0  
Total liabilities 0   0  
Preferred Stock 0   0  
GAAP book value 3,963   3,963  
Unlevered Excess MSRs Segment
        
Interest income 4,482 0 6,519 0
Interest expense 0 0 0 0
Net interest income 4,482 0 6,519 0
Impairment (reversal) 0 0 0 0
Other income (loss) 3,523 0 4,739 0
Expenses 1,371 0 1,494 0
Income (loss) from continuing operations 6,634 0 9,764 0
Income (loss) from discontinued operations 0 0 0 0
Net Income 6,634 0 9,764 0
Preferred dividends 0 0 0 0
Income Available for Common Stockholders 6,634 0 9,764 0
Investments 265,132   265,132  
Cash and restricted cash 9,278   9,278  
Derivative Assets 0   0  
Other assets 16,815   16,815  
Total assets 291,225   291,225  
Debt 0   0  
Derivative Liabilities 0   0  
Other liabilities (33,031)   (33,031)  
Total liabilities (33,031)   (33,031)  
Preferred Stock 0   0  
GAAP book value 258,194   258,194  
Non-recourse Other Segment
        
Interest income 18,037 17,525 36,463 35,006
Interest expense 12,671 12,835 25,334 25,990
Net interest income 5,366 4,690 11,129 9,016
Impairment (reversal) 1,055 643 2,703 1,797
Other income (loss) 0 (337) 0 1,490
Expenses 850 892 1,693 1,636
Income (loss) from continuing operations 3,461 2,818 6,733 7,073
Income (loss) from discontinued operations 162 97 330 (185)
Net Income 3,623 2,915 7,063 6,888
Preferred dividends 0 0 0 0
Income Available for Common Stockholders 3,623 2,915 7,063 6,888
Investments 772,025   772,025  
Cash and restricted cash 0   0  
Derivative Assets 0   0  
Other assets 196   196  
Total assets 772,221   772,221  
Debt (725,336)   (725,336)  
Derivative Liabilities 0   0  
Other liabilities (2,927)   (2,927)  
Total liabilities (728,263)   (728,263)  
Preferred Stock 0   0  
GAAP book value 43,958   43,958  
Recourse Segment
        
Interest income 954 450 1,768 597
Interest expense 293 144 561 242
Net interest income 661 306 1,207 355
Impairment (reversal) 0 0 0 0
Other income (loss) 0 0 0 0
Expenses 0 0 0 0
Income (loss) from continuing operations 661 306 1,207 355
Income (loss) from discontinued operations 0 0 0 0
Net Income 661 306 1,207 355
Preferred dividends 0 0 0 0
Income Available for Common Stockholders 661 306 1,207 355
Investments 403,392   403,392  
Cash and restricted cash 0   0  
Derivative Assets 0   0  
Other assets 958   958  
Total assets 404,350   404,350  
Debt (317,972)   (317,972)  
Derivative Liabilities 0   0  
Other liabilities (65,777)   (65,777)  
Total liabilities (383,749)   (383,749)  
Preferred Stock 0   0  
GAAP book value 20,601   20,601  
Unlevered Other Segment
        
Interest income 4,328 510 4,851 992
Interest expense 0 0 0 0
Net interest income 4,328 510 4,851 992
Impairment (reversal) (298) (3,797) (495) (3,912)
Other income (loss) 414 647 (1,055) 1,107
Expenses 12 70 25 115
Income (loss) from continuing operations 5,028 4,884 4,266 5,896
Income (loss) from discontinued operations (14) (20) (31) (41)
Net Income 5,014 4,864 4,235 5,855
Preferred dividends 0 0 0 0
Income Available for Common Stockholders 5,014 4,864 4,235 5,855
Investments 134,230   134,230  
Cash and restricted cash 0   0  
Derivative Assets 0   0  
Other assets 4,344   4,344  
Total assets 138,574   138,574  
Debt 0   0  
Derivative Liabilities 0   0  
Other liabilities (2,601)   (2,601)  
Total liabilities (2,601)   (2,601)  
Preferred Stock 0   0  
GAAP book value 135,973   135,973  
Corporate Segment
        
Interest income 52 43 103 63
Interest expense 949 954 1,903 1,906
Net interest income (897) (911) (1,800) (1,843)
Impairment (reversal) 0 0 0 0
Other income (loss) 0 0 0 0
Expenses 10,465 6,116 17,603 11,864
Income (loss) from continuing operations (11,362) (7,027) (19,403) (13,707)
Income (loss) from discontinued operations 0 0 0 0
Net Income (11,362) (7,027) (19,403) (13,707)
Preferred dividends (1,395) (1,395) (2,790) (2,790)
Income Available for Common Stockholders (12,757) (8,422) (22,193) (16,497)
Investments 0   0  
Cash and restricted cash 93,369   93,369  
Derivative Assets 0   0  
Other assets 6,543   6,543  
Total assets 99,912   99,912  
Debt (51,246)   (51,246)  
Derivative Liabilities 0   0  
Other liabilities (43,655)   (43,655)  
Total liabilities (94,901)   (94,901)  
Preferred Stock (61,583)   (61,583)  
GAAP book value (56,572)   (56,572)  
Intersegment Elimination Segment
        
Interest income (1,568) (968) (3,037) (1,734)
Interest expense (1,455) (855) (2,811) (1,508)
Net interest income (113) (113) (226) (226)
Impairment (reversal) 0 0 0 0
Other income (loss) 0 0 0 0
Expenses 0 0 0 0
Income (loss) from continuing operations (113) (113) (226) (226)
Income (loss) from discontinued operations 113 113 226 226
Net Income 0 0 0 0
Preferred dividends 0 0 0 0
Income Available for Common Stockholders 0 0 0 0
Investments (141,088)   (141,088)  
Cash and restricted cash 0   0  
Derivative Assets 0   0  
Other assets (353)   (353)  
Total assets (141,441)   (141,441)  
Debt 141,088   141,088  
Derivative Liabilities 0   0  
Other liabilities 353   353  
Total liabilities 141,441   141,441  
Preferred Stock 0   0  
GAAP book value $ 0   $ 0