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 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Interest income $ 82,850 $ 72,393 $ 240,187 $ 218,739
Interest expense 28,411 32,587 88,038 106,502
Net interest income 54,439 39,806 152,149 112,237
Impairment (reversal) 5,014 21,650 6,433 (24,623)
Other revenue 7,548 0 7,548 0
Other income (loss) 235,782 18,802 264,175 123,160
Property operating expenses 4,742    4,742   
Depreciation and amortization 2,370 0 2,370 0
Other operating expenses 12,609 7,166 33,908 21,420
Income (loss) from continuing operations 273,034 29,792 376,419 238,600
Income (loss) from discontinued operations 187 151 712 151
Net Income 273,221 29,943 377,131 238,751
Preferred dividends (1,395) (1,395) (4,185) (4,185)
Income Available for Common Stockholders 271,826 28,548 372,946 234,566
Investments 3,364,770   3,364,770  
Cash and restricted cash 231,865   231,865  
Derivative Assets 224   224  
Other assets 40,003   40,003  
Total assets 3,636,862   3,636,862  
Debt (2,503,160)   (2,503,160)  
Derivative Liabilities (36,519)   (36,519)  
Other liabilities (62,997)   (62,997)  
Total liabilities (2,602,676)   (2,602,676)  
Preferred Stock (61,583)   (61,583)  
GAAP book value 972,603   972,603  
CDOs
        
Interest income 51,050 53,403 161,490 164,523
Interest expense 14,694 19,909 49,334 67,173
Net interest income 36,356 33,494 112,156 97,350
Impairment (reversal) 3,962 17,550 3,173 (27,904)
Other revenue 0   0  
Other income (loss) 231,825 18,262 256,358 115,425
Property operating expenses 0   0  
Depreciation and amortization 0   0  
Other operating expenses 230 250 713 779
Income (loss) from continuing operations 263,989 33,956 364,628 239,900
Income (loss) from discontinued operations 0 0 0 0
Net Income 263,989 33,956 364,628 239,900
Preferred dividends 0 0 0 0
Income Available for Common Stockholders 263,989 33,956 364,628 239,900
Investments 1,462,566   1,462,566  
Cash and restricted cash 2,829   2,829  
Derivative Assets 0   0  
Other assets 6,319   6,319  
Total assets 1,471,714   1,471,714  
Debt (1,160,448)   (1,160,448)  
Derivative Liabilities (36,519)   (36,519)  
Other liabilities (5,757)   (5,757)  
Total liabilities (1,202,724)   (1,202,724)  
Preferred Stock 0   0  
GAAP book value 268,990   268,990  
Unlevered CDOs Segment
        
Interest income 109 97 339 120
Interest expense 0 0 0 0
Net interest income 109 97 339 120
Impairment (reversal) 0 0 0 0
Other revenue 0   0  
Other income (loss) 83 0 259 3,643
Property operating expenses 0   0  
Depreciation and amortization 0   0  
Other operating expenses 0 116 1 0
Income (loss) from continuing operations 192 213 597 3,763
Income (loss) from discontinued operations 0 0 0 0
Net Income 192 213 597 3,763
Preferred dividends 0 0 0 0
Income Available for Common Stockholders 192 213 597 3,763
Investments 5,471   5,471  
Cash and restricted cash 0   0  
Derivative Assets 0   0  
Other assets 8   8  
Total assets 5,479   5,479  
Debt 0   0  
Derivative Liabilities 0   0  
Other liabilities 0   0  
Total liabilities 0   0  
Preferred Stock 0   0  
GAAP book value 5,479   5,479  
Unlevered Excess MSRs Segment
        
Interest income 9,903 0 16,422 0
Interest expense 0 0 0 0
Net interest income 9,903 0 16,422 0
Impairment (reversal) 0 0 0 0
Other revenue 0   0  
Other income (loss) 1,774 0 6,513 0
Property operating expenses 0   0  
Depreciation and amortization 0   0  
Other operating expenses 686 0 2,180 0
Income (loss) from continuing operations 10,991 0 20,755 0
Income (loss) from discontinued operations 0 0 0 0
Net Income 10,991 0 20,755 0
Preferred dividends 0 0 0 0
Income Available for Common Stockholders 10,991 0 20,755 0
Investments 258,347   258,347  
Cash and restricted cash 0   0  
Derivative Assets 0   0  
Other assets 25,214   25,214  
Total assets 283,561   283,561  
Debt 0   0  
Derivative Liabilities 0   0  
Other liabilities (5,390)   (5,390)  
Total liabilities (5,390)   (5,390)  
Preferred Stock 0   0  
GAAP book value 278,171   278,171  
Senior Living
        
Interest income 0 0 0 0
Interest expense 692 0 692 0
Net interest income (692) 0 (692) 0
Impairment (reversal) 0 0 0 0
Other revenue 7,548   7,548  
Other income (loss) (21) 0 (21) 0
Property operating expenses 4,742   4,742  
Depreciation and amortization 2,370   2,370  
Other operating expenses 1,650 0 4,848 0
Income (loss) from continuing operations (1,927) 0 (5,125) 0
Income (loss) from discontinued operations 0 0 0 0
Net Income (1,927) 0 (5,125) 0
Preferred dividends 0 0 0 0
Income Available for Common Stockholders (1,927) 0 (5,125) 0
Investments 141,553   141,553  
Cash and restricted cash 5,980   5,980  
Derivative Assets 224   224  
Other assets 4,005   4,005  
Total assets 151,762   151,762  
Debt (88,400)   (88,400)  
Derivative Liabilities 0   0  
Other liabilities (4,391)   (4,391)  
Total liabilities (92,791)   (92,791)  
Preferred Stock 0   0  
GAAP book value 58,971   58,971  
Non-recourse Other Segment
        
Interest income 18,290 18,816 54,753 54,421
Interest expense 13,263 13,329 38,597 39,660
Net interest income 5,027 5,487 16,156 14,761
Impairment (reversal) 499 3,919 3,202 7,012
Other revenue 0   0  
Other income (loss) 0 0 0 2,561
Property operating expenses 0   0  
Depreciation and amortization 0   0  
Other operating expenses 820 933 2,513 2,679
Income (loss) from continuing operations 3,708 635 10,441 7,631
Income (loss) from discontinued operations 92 54 422 (131)
Net Income 3,800 689 10,863 7,500
Preferred dividends 0 0 0 0
Income Available for Common Stockholders 3,800 689 10,863 7,500
Investments 765,047   765,047  
Cash and restricted cash 0   0  
Derivative Assets 0   0  
Other assets 113   113  
Total assets 765,160   765,160  
Debt (672,290)   (672,290)  
Derivative Liabilities 0   0  
Other liabilities (2,484)   (2,484)  
Total liabilities (674,774)   (674,774)  
Preferred Stock 0   0  
GAAP book value 90,386   90,386  
Recourse Segment
        
Interest income 3,213 1,029 4,981 1,626
Interest expense 826 213 1,387 455
Net interest income 2,387 816 3,594 1,171
Impairment (reversal) 0 0 0 0
Other revenue 0   0  
Other income (loss) 0 0 0 0
Property operating expenses 0   0  
Depreciation and amortization 0   0  
Other operating expenses 0 0 0 0
Income (loss) from continuing operations 2,387 816 3,594 1,171
Income (loss) from discontinued operations 0 0 0 0
Net Income 2,387 816 3,594 1,171
Preferred dividends 0 0 0 0
Income Available for Common Stockholders 2,387 816 3,594 1,171
Investments 667,560   667,560  
Cash and restricted cash 0   0  
Derivative Assets 0   0  
Other assets 2,416   2,416  
Total assets 669,976   669,976  
Debt (599,959)   (599,959)  
Derivative Liabilities 0   0  
Other liabilities (94)   (94)  
Total liabilities (600,053)   (600,053)  
Preferred Stock 0   0  
GAAP book value (69,923)   (69,923)  
Unlevered Other Segment
        
Interest income 2,383 941 7,234 1,933
Interest expense 0 0 0 0
Net interest income 2,383 941 7,234 1,933
Impairment (reversal) 553 181 58 (3,731)
Other revenue 0   0  
Other income (loss) 2,121 424 1,066 1,531
Property operating expenses 0   0  
Depreciation and amortization 0   0  
Other operating expenses 10 (111) 35 4
Income (loss) from continuing operations 3,941 1,295 8,207 7,191
Income (loss) from discontinued operations (17) (15) (48) (56)
Net Income 3,924 1,280 8,159 7,135
Preferred dividends 0 0 0 0
Income Available for Common Stockholders 3,924 1,280 8,159 7,135
Investments 133,408   133,408  
Cash and restricted cash 0   0  
Derivative Assets 0   0  
Other assets 1,904   1,904  
Total assets 135,312   135,312  
Debt 0   0  
Derivative Liabilities 0   0  
Other liabilities (67)   (67)  
Total liabilities (67)   (67)  
Preferred Stock 0   0  
GAAP book value 135,245   135,245  
Corporate Segment
        
Interest income 32 36 135 99
Interest expense 954 953 2,857 2,859
Net interest income (922) (917) (2,722) (2,760)
Impairment (reversal) 0 0 0 0
Other revenue 0   0  
Other income (loss) 0 0 0 0
Property operating expenses 0   0  
Depreciation and amortization 0   0  
Other operating expenses 9,213 6,094 23,618 17,958
Income (loss) from continuing operations (10,135) (7,011) (26,340) (20,718)
Income (loss) from discontinued operations 0 0 0 0
Net Income (10,135) (7,011) (26,340) (20,718)
Preferred dividends (1,395) (1,395) (4,185) (4,185)
Income Available for Common Stockholders (11,530) (8,406) (30,525) (24,903)
Investments 0   0  
Cash and restricted cash 233,056   233,056  
Derivative Assets 0   0  
Other assets 181   181  
Total assets 223,237   223,237  
Debt (51,245)   (51,245)  
Derivative Liabilities 0   0  
Other liabilities (44,971)   (44,971)  
Total liabilities (96,216)   (96,216)  
Preferred Stock (61,583)   (61,583)  
GAAP book value 65,438   65,438  
Intersegment Elimination Segment
        
Interest income (2,130) (1,929) (5,167) (3,983)
Interest expense (2,018) (1,817) (4,829) (3,645)
Net interest income (112) (1,817) (338) (338)
Impairment (reversal) 0 0 0 0
Other revenue 0   0  
Other income (loss) 0 0 0 0
Property operating expenses 0   0  
Depreciation and amortization 0   0  
Other operating expenses 0 0 0 0
Income (loss) from continuing operations (112) (112) (338) (338)
Income (loss) from discontinued operations 112 112 338 338
Net Income 0 0 0 0
Preferred dividends 0 0 0 0
Income Available for Common Stockholders 0 0 0 0
Investments (69,182)   (69,182)  
Cash and restricted cash 0   0  
Derivative Assets 0   0  
Other assets (157)   (157)  
Total assets (69,339)   (69,339)  
Debt 69,182   69,182  
Derivative Liabilities 0   0  
Other liabilities 157   157  
Total liabilities 69,339   69,339  
Preferred Stock 0   0  
GAAP book value $ 0   $ 0