Current report filing

Schedule of details regarding subprime mortgage loans (Details)

v2.4.0.8
Schedule of details regarding subprime mortgage loans (Details) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2012
Subprime Portfolio I
Dec. 31, 2011
Subprime Portfolio I
Restated
Dec. 31, 2012
Subprime Portfolio II
Dec. 31, 2011
Subprime Portfolio II
Restated
Loan unpaid principal balance (UPB) $ 988,441 [1] $ 423,872 [1],[2]   $ 564,569 [1],[2]  
Weighted average coupon rate of loans   5.59%   4.71%  
Delinquencies of 60 or more days (UPB)   109,213 [3]   200,253 [3]  
Net credit losses for the year   27,548 29,460 34,866 54,217
Cumulative net credit losses   220,417   256,719  
Cumulative net credit losses as a % of original UPB   14.70%   23.60%  
Percentage of ARM loans   51.00% [4]   64.40% [4]  
Percentage of loans with original loan-to-value ratio >90%   10.40%   17.20%  
Percentage of interest-only loans   20.80%   4.10%  
Face amount of debt   $ 418,906 [2],[5]   $ 564,569 [2],[5]  
Weighted average funding cost of debt   0.57% [6]   1.10% [6]  
[1] (A) Average loan seasoning of 89 months and 71 months for Subprime Portfolios I and II, respectively, at December 31, 2012.
[2] (A) Audited.
[3] (B) Delinquencies include loans 60 or more days past due, in foreclosure, under bankruptcy filing or real estate owned.
[4] (C) ARM loans are adjustable-rate mortgage loans. An option ARM is an adjustable-rate mortgage that provides the borrower with an option to choose from several payment amounts each month for a specified period of the loan term. None of the loans in the subprime portfolios are option ARMs.
[5] (D) Excludes face amount of $4.0 million of retained notes for Subprime Portfolio I at December 31, 2012.
[6] (E) Includes the effect of applicable hedges.