Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

v2.4.0.6
Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2012
Dec. 31, 2011
Assets    
Cash and cash equivalents $ 156,425 $ 157,356
[Assets] 3,719,546 3,651,799
Liabilities    
[Liabilities] 3,396,524 3,459,710
Stockholders' Equity    
Preferred stock, $0.01 par value, 100,000,000 shares authorized, 1,347,321 shares of 9.75% Series B Cumulative Redeemable Preferred Stock, 496,000 shares of 8.05% Series C Cumulative Redeemable Preferred Stock, and 620,000 shares of 8.375% Series D Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share, issued and outstanding as of March 31, 2012 and December 31, 2011 61,583 61,583
Common stock, $0.01 par value, 500,000,000 shares authorized, 105,181,009 shares issued and outstanding at March 31, 2012 and December 31, 2011 1,052 1,052
Additional paid-in capital 1,275,792 1,275,792
Accumulated deficit (1,022,212) (1,073,252)
Accumulated other comprehensive income (loss) 6,807 (73,086)
[StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest] 323,022 192,089
[LiabilitiesAndStockholdersEquity] 3,719,546 3,651,799
Non Recourse VIE Financing Structures
    
Assets    
Real estate securities, available-for-sale 1,536,251 1,479,214
Real estate related loans, held-for-sale, net 838,818 807,214
Residential mortgage loans, held-for-investment, net 321,347 331,236
Residential mortgage loans, held-for-sale, net      
Subprime mortgage loans subject to call option 404,979 404,723
Operating real estate, held-for-sale 7,739 7,741
Other investments 18,883 18,883
Restricted cash 107,875 105,040
Derivative assets 1,832 1,954
Receivables and other assets 22,147 23,319
[Assets] 3,259,871 3,179,324
Liabilities    
CDO bonds payable 2,365,537 2,403,605
Other bonds and notes payable 190,091 200,377
Repurchase agreements 5,644 6,546
Financing of subprime mortgage loans subject to call option 404,979 404,723
Derivative liabilities 108,774 119,320
Accrued expenses and other liabilities 15,723 16,112
[Liabilities] 3,090,748 3,150,683
Recourse Financing Structures Unlevered Assets and Other Liabilities
    
Assets    
Real estate securities, available-for-sale 248,638 252,530
Real estate related loans, held-for-sale, net    6,366
Residential mortgage loans, held-for-sale, net 2,775 2,687
Investments in excess mortgage servicing rights at fair value 42,587 43,971
Other investments 6,024 6,024
Receivables and other assets 3,226 3,541
Cash and cash equivalents 156,425 157,356
[Assets] 459,675 472,475
Liabilities    
Repurchase agreements 228,080 233,194
Accrued expenses and other liabilities 2,824 6,219
Junior subordinated notes payable 51,247 51,248
Dividends Payable 21,966 16,707
Due to affiliates 1,659 1,659
[Liabilities] $ 305,776 $ 309,027