|
Schedule Of Carrying Value and Fair Value (Details) (USD $)
In Thousands, unless otherwise specified
|
Jun. 30, 2012
|
Dec. 31, 2011
|
| Assets |
|
|
| Total Assets |
$ 4,193,690
|
$ 3,651,799
|
| Liabilities |
|
|
| Total Liabilities |
3,590,960
|
3,459,710
|
|
Carrying (Reported) Amount, Fair Value Disclosure
|
|
|
| Assets |
|
|
| Investments in excess mortgage servicing rights at fair value*(H) |
265,132
|
|
| Derivative assets, treated as hedges (C)(E)* |
504
|
|
| Non-hedge derivative assets (D)(E)* |
462
|
|
| Liabilities |
|
|
| Interest rate swaps, treated as hedges (C)(E)* |
70,226
|
|
| Non-hedge derivatives (D)(E)* |
31,583
|
|
|
Non Recourse VIE Financing Structures
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
1,505,791
|
1,479,214
|
| Real estate related loans, held-for-sale, net |
891,953
|
807,214
|
| Residential mortgage loans, held-for-investment, net |
311,097
|
331,236
|
| Residential mortgage loans, held-for-sale, net |
0
|
0
|
| Loans subject to call option (carrying value) |
405,247
|
404,723
|
| Restricted Cash* |
62,692
|
105,040
|
| Operating real estate, held-for-sale |
7,737
|
7,741
|
| Other investments |
18,883
|
18,883
|
| Receivables and other assets |
21,021
|
23,319
|
| Total Assets |
3,256,019
|
3,179,324
|
| Liabilities |
|
|
| CDO bonds payable |
2,350,648
|
2,403,605
|
| Other bonds and notes payable |
179,001
|
200,377
|
| Repurchase agreements |
5,538
|
6,546
|
| Financing of subprime mortgage loans subject to call option (B) |
405,247
|
404,723
|
| Total Liabilities |
3,077,031
|
3,150,683
|
|
Non Recourse VIE Financing Structures | Carrying (Reported) Amount, Fair Value Disclosure
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
1,505,791
|
|
| Real estate related loans, held-for-sale, net |
891,953
|
|
| Residential mortgage loans, held-for-investment, net |
311,097
|
|
| Loans subject to call option (carrying value) |
405,247
|
|
| Restricted Cash* |
62,692
|
|
| Derivative assets, treated as hedges (C)(E)* |
504
|
|
| Non-hedge derivative assets (D)(E)* |
462
|
|
| Operating real estate, held-for-sale |
7,737
|
|
| Other investments |
18,883
|
|
| Receivables and other assets |
51,653
|
|
| Total Assets |
3,256,019
|
|
| Liabilities |
|
|
| CDO bonds payable |
2,350,648
|
|
| Other bonds and notes payable |
179,001
|
|
| Repurchase agreements |
5,538
|
|
| Financing of subprime mortgage loans subject to call option (B) |
405,247
|
|
| Interest rate swaps, treated as hedges (C)(E)* |
70,226
|
|
| Non-hedge derivatives (D)(E)* |
31,583
|
|
| Dividends payable, accrued expenses and other liabilities |
34,788
|
|
| Total Liabilities |
3,077,031
|
|
|
Recourse Financing Structures Unlevered Assets and Other Liabilities
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
532,609
|
252,530
|
| Real estate related loans, held-for-sale, net |
0
|
6,366
|
| Residential mortgage loans, held-for-sale, net |
2,946
|
2,687
|
| Investments in excess mortgage servicing rights at fair value*(H) |
265,132
|
43,971
|
| Other investments |
6,024
|
6,024
|
| Receivables and other assets |
28,313
|
3,541
|
| Total Assets |
937,671
|
472,475
|
| Liabilities |
|
|
| Repurchase agreements |
317,972
|
233,194
|
| Junior subordinated notes payable |
51,246
|
51,248
|
| Total Liabilities |
513,929
|
309,027
|
|
Recourse Financing Structures Unlevered Assets and Other Liabilities | Carrying (Reported) Amount, Fair Value Disclosure
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
532,609
|
|
| Residential mortgage loans, held-for-sale, net |
2,946
|
|
| Investments in excess mortgage servicing rights at fair value*(H) |
265,132
|
|
| Cash and Cash Equivalents, End of Period |
102,647
|
|
| Operating real estate, held-for-sale |
6,024
|
|
| Receivables and other assets |
28,313
|
|
| Total Assets |
937,671
|
|
| Liabilities |
|
|
| Repurchase agreements |
317,972
|
|
| Junior subordinated notes payable |
51,246
|
|
| Due to affiliates |
8,448
|
|
| Dividends payable, accrued expenses and other liabilities |
136,263
|
|
| Total Liabilities |
513,929
|
|
|
Financing on subprime mortgage loans subject to call option
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
9.09%
|
|
| Weighted Average Yield/Funding Cost |
(B)
|
|
|
Junior Subordinated Debt
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
7.41%
|
|
| Weighted Average Maturity (Years) |
22.8
|
|
|
Real Estate Loans Held For Sale
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
12.26%
|
|
| Weighted Average Maturity (Years) |
2.2
|
|
|
Residential Mortgage Loans Held For Investment
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
8.21%
|
|
| Weighted Average Maturity (Years) |
6.3
|
|
|
Residential Mortgage Loans Held For Sale
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
16.84%
|
|
| Weighted Average Maturity (Years) |
5.0
|
|
|
Balance Principal Amount
|
|
|
| Assets |
|
|
| Investments in excess mortgage servicing rights at fair value*(H) |
81,958,128
|
|
| Derivative assets, treated as hedges (C)(E)* |
122,665
|
|
| Non-hedge derivative assets (D)(E)* |
42,428
|
|
| Liabilities |
|
|
| Interest rate swaps, treated as hedges (C)(E)* |
766,859
|
|
| Non-hedge derivatives (D)(E)* |
339,990
|
|
|
Balance Principal Amount | Non Recourse VIE Financing Structures
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
1,895,695
|
|
| Real estate related loans, held-for-sale, net |
1,147,949
|
|
| Residential mortgage loans, held-for-investment, net |
349,965
|
|
| Loans subject to call option (carrying value) |
406,217
|
|
| Restricted Cash* |
62,692
|
|
| Derivative assets, treated as hedges (C)(E)* |
122,665
|
|
| Non-hedge derivative assets (D)(E)* |
42,428
|
|
| Liabilities |
|
|
| CDO bonds payable |
2,352,789
|
|
| Other bonds and notes payable |
180,590
|
|
| Repurchase agreements |
5,538
|
|
| Financing of subprime mortgage loans subject to call option (B) |
406,217
|
|
| Interest rate swaps, treated as hedges (C)(E)* |
766,859
|
|
| Non-hedge derivatives (D)(E)* |
339,990
|
|
|
Balance Principal Amount | Recourse Financing Structures Unlevered Assets and Other Liabilities
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
738,461
|
|
| Residential mortgage loans, held-for-sale, net |
4,322
|
|
| Investments in excess mortgage servicing rights at fair value*(H) |
81,958,128
|
|
| Cash and Cash Equivalents, End of Period |
102,647
|
|
| Liabilities |
|
|
| Repurchase agreements |
317,972
|
|
| Junior subordinated notes payable |
51,004
|
|
|
Estimate of Fair Value, Fair Value Disclosure [Member]
|
|
|
| Assets |
|
|
| Investments in excess mortgage servicing rights at fair value*(H) |
265,132
|
|
| Derivative assets, treated as hedges (C)(E)* |
504
|
|
| Non-hedge derivative assets (D)(E)* |
462
|
|
| Liabilities |
|
|
| Interest rate swaps, treated as hedges (C)(E)* |
70,226
|
|
| Non-hedge derivatives (D)(E)* |
31,583
|
|
|
Estimate of Fair Value, Fair Value Disclosure [Member] | Non Recourse VIE Financing Structures
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
1,505,791
|
|
| Real estate related loans, held-for-sale, net |
898,618
|
|
| Residential mortgage loans, held-for-investment, net |
308,810
|
|
| Loans subject to call option (carrying value) |
405,247
|
|
| Restricted Cash* |
62,692
|
|
| Derivative assets, treated as hedges (C)(E)* |
504
|
|
| Non-hedge derivative assets (D)(E)* |
462
|
|
| Operating real estate, held-for-sale |
7,737
|
|
| Other investments |
18,883
|
|
| Receivables and other assets |
51,653
|
|
| Total Assets |
3,260,397
|
|
| Liabilities |
|
|
| CDO bonds payable |
1,539,213
|
|
| Other bonds and notes payable |
181,773
|
|
| Repurchase agreements |
5,538
|
|
| Financing of subprime mortgage loans subject to call option (B) |
405,247
|
|
| Interest rate swaps, treated as hedges (C)(E)* |
70,226
|
|
| Non-hedge derivatives (D)(E)* |
31,583
|
|
| Dividends payable, accrued expenses and other liabilities |
34,788
|
|
| Total Liabilities |
2,268,368
|
|
|
Estimate of Fair Value, Fair Value Disclosure [Member] | Recourse Financing Structures Unlevered Assets and Other Liabilities
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
532,609
|
|
| Residential mortgage loans, held-for-sale, net |
2,946
|
|
| Investments in excess mortgage servicing rights at fair value*(H) |
265,132
|
|
| Cash and Cash Equivalents, End of Period |
102,647
|
|
| Operating real estate, held-for-sale |
6,024
|
|
| Receivables and other assets |
28,313
|
|
| Total Assets |
937,671
|
|
| Liabilities |
|
|
| Repurchase agreements |
317,972
|
|
| Junior subordinated notes payable |
31,594
|
|
| Due to affiliates |
8,448
|
|
| Dividends payable, accrued expenses and other liabilities |
136,263
|
|
| Total Liabilities |
$ 494,277
|
|
|
Real Estate Securities Available For Sale Non Recourse
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
9.47%
|
|
| Weighted Average Maturity (Years) |
4.1
|
|
|
Derivative Financial Instruments, Assets
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
N/A
|
|
| Weighted Average Maturity (Years) |
(C)
|
|
|
Derivative Financial Instruments, Assets Non Hedge
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
N/A
|
|
| Weighted Average Maturity (Years) |
(D)
|
|
|
Real Estate Securities Available For Sale Recourse
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
3.20%
|
|
| Weighted Average Maturity (Years) |
3.5
|
|
|
Investments in Excess MSRs
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
17.60%
|
|
| Weighted Average Maturity (Years) |
5.55
|
|
|
CDO Bonds Payable
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
2.65%
|
|
| Weighted Average Maturity (Years) |
3.4
|
|
|
OtherBondsAndNotesPayableNRMember
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
4.34%
|
|
| Weighted Average Maturity (Years) |
3.3
|
|
|
RepurchaseAgreementsNonRecourseMember
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
2.25%
|
|
| Weighted Average Maturity (Years) |
0.3
|
|
|
Financing on Subprime Mortgage Loans subject to Call Options
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
9.09%
|
|
| Weighted Average Yield/Funding Cost |
(B)
|
|
|
Interest Rate Swaps
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
N/A
|
|
| Weighted Average Maturity (Years) |
(C)
|
|
|
Non Hedge Derivative Liabilities
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
N/A
|
|
| Weighted Average Maturity (Years) |
(D)
|
|
|
Repurchase Agreements
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
0.43%
|
|
| Weighted Average Maturity (Years) |
0.1
|
|