|
Schedule Of Carrying Value and Fair Value (Details) (USD $)
In Thousands, unless otherwise specified
|
Sep. 30, 2012
|
Dec. 31, 2011
|
| Assets |
|
|
| Loans subject to call option (carrying value) |
$ 405,525
|
|
| Total Assets |
3,636,862
|
3,651,799
|
| Liabilities |
|
|
| Total Liabilities |
2,602,676
|
3,459,710
|
|
Carrying (Reported) Amount, Fair Value Disclosure
|
|
|
| Assets |
|
|
| Investments in excess mortgage servicing rights at fair value*(H) |
258,347
|
|
| Non-hedge derivative assets (D)(E)* |
224
|
|
| Liabilities |
|
|
| Interest rate swaps, treated as hedges (C)(E)* |
14,009
|
|
| Non-hedge derivatives (D)(E)* |
22,510
|
|
|
Non Recourse VIE Financing Structures
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
591,929
|
1,479,214
|
| Real estate related loans, held-for-sale, net |
832,885
|
807,214
|
| Residential mortgage loans, held-for-investment, net |
301,370
|
331,236
|
| Loans subject to call option (carrying value) |
405,525
|
404,723
|
| Restricted Cash* |
2,829
|
105,040
|
| Operating real estate, held-for-sale |
7,839
|
7,741
|
| Other investments |
18,883
|
18,883
|
| Receivables and other assets |
6,432
|
23,319
|
| Total Assets |
2,167,692
|
3,179,324
|
| Liabilities |
|
|
| CDO bonds payable |
1,155,080
|
2,403,605
|
| Other bonds and notes payable |
197,583
|
200,377
|
| Repurchase agreements |
5,368
|
6,546
|
| Financing of subprime mortgage loans subject to call option (B) |
405,525
|
404,723
|
| Total Liabilities |
1,808,316
|
3,150,683
|
|
Non Recourse VIE Financing Structures | Carrying (Reported) Amount, Fair Value Disclosure
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
591,929
|
|
| Real estate related loans, held-for-sale, net |
832,885
|
|
| Residential mortgage loans, held-for-investment, net |
301,370
|
|
| Loans subject to call option (carrying value) |
405,525
|
|
| Restricted Cash* |
2,829
|
|
| Operating real estate, held-for-sale |
7,839
|
|
| Other investments |
18,883
|
|
| Receivables and other assets |
6,432
|
|
| Total Assets |
2,167,692
|
|
| Liabilities |
|
|
| CDO bonds payable |
1,155,080
|
|
| Other bonds and notes payable |
197,583
|
|
| Repurchase agreements |
5,368
|
|
| Financing of subprime mortgage loans subject to call option (B) |
405,525
|
|
| Interest rate swaps, treated as hedges (C)(E)* |
4,009
|
|
| Non-hedge derivatives (D)(E)* |
22,510
|
|
| Dividends payable, accrued expenses and other liabilities |
8,241
|
|
| Total Liabilities |
1,808,316
|
|
|
Recourse Financing Structures Unlevered Assets and Other Liabilities
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
788,431
|
252,530
|
| Real estate related loans, held-for-sale, net |
9,418
|
6,366
|
| Residential mortgage loans, held-for-sale, net |
2,566
|
2,687
|
| Investments in excess mortgage servicing rights at fair value*(H) |
258,347
|
43,971
|
| Other investments |
6,024
|
6,024
|
| Receivables and other assets |
33,571
|
3,541
|
| Total Assets |
1,469,170
|
472,475
|
| Liabilities |
|
|
| Repurchase agreements |
599,959
|
233,194
|
| Mortgage notes payable |
88,400
|
|
| Junior subordinated notes payable |
51,245
|
51,248
|
| Total Liabilities |
794,360
|
309,027
|
|
Recourse Financing Structures Unlevered Assets and Other Liabilities | Carrying (Reported) Amount, Fair Value Disclosure
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
788,431
|
|
| Real estate related loans, held-for-sale, net |
9,418
|
|
| Residential mortgage loans, held-for-sale, net |
2,566
|
|
| Investments in excess mortgage servicing rights at fair value*(H) |
258,347
|
|
| Cash and Cash Equivalents, End of Period |
229,036
|
|
| Non-hedge derivative assets (D)(E)* |
224
|
|
| Investments in real estate and resident lease intangibles, net |
141,553
|
|
| Other investments |
6,024
|
|
| Receivables and other assets |
33,571
|
|
| Total Assets |
1,469,170
|
|
| Liabilities |
|
|
| Repurchase agreements |
599,959
|
|
| Mortgage notes payable |
88,400
|
|
| Junior subordinated notes payable |
51,245
|
|
| Due to affiliates |
3,351
|
|
| Dividends payable, accrued expenses and other liabilities |
51,405
|
|
| Total Liabilities |
794,360
|
|
|
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) |
22.6
|
|
|
Real Estate Loans Held For Sale
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
12.63%
|
|
| Weighted Average Maturity (Years) |
2.2
|
|
|
Residential Mortgage Loans Held For Investment
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
8.19%
|
|
| Weighted Average Maturity (Years) |
6.2
|
|
|
Real Estate Loans Held For Sale Recourse
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
6.51%
|
|
| Weighted Average Maturity (Years) |
1.8
|
|
|
Residential Mortgage Loans Held For Sale
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
16.85%
|
|
| Weighted Average Maturity (Years) |
4.7
|
|
|
Total Residential Mortgage Loans Held For Sale
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
3.45%
|
|
| Weighted Average Maturity (Years) |
6.5
|
|
|
Balance Principal Amount
|
|
|
| Assets |
|
|
| Investments in excess mortgage servicing rights at fair value*(H) |
79,629,020
|
|
| Non-hedge derivative assets (D)(E)* |
23,400
|
|
| Liabilities |
|
|
| Interest rate swaps, treated as hedges (C)(E)* |
154,795
|
|
| Non-hedge derivatives (D)(E)* |
296,532
|
|
|
Balance Principal Amount | Non Recourse VIE Financing Structures
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
731,415
|
|
| Real estate related loans, held-for-sale, net |
1,074,133
|
|
| Residential mortgage loans, held-for-investment, net |
338,158
|
|
| Loans subject to call option (carrying value) |
406,217
|
|
| Restricted Cash* |
2,829
|
|
| Liabilities |
|
|
| CDO bonds payable |
1,154,745
|
|
| Other bonds and notes payable |
202,409
|
|
| Repurchase agreements |
5,368
|
|
| Financing of subprime mortgage loans subject to call option (B) |
406,217
|
|
| Interest rate swaps, treated as hedges (C)(E)* |
154,795
|
|
| Non-hedge derivatives (D)(E)* |
296,532
|
|
|
Balance Principal Amount | Recourse Financing Structures Unlevered Assets and Other Liabilities
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
1,027,954
|
|
| Real estate related loans, held-for-sale, net |
28,801
|
|
| Residential mortgage loans, held-for-sale, net |
3,735
|
|
| Investments in excess mortgage servicing rights at fair value*(H) |
79,629,020
|
|
| Cash and Cash Equivalents, End of Period |
229,036
|
|
| Non-hedge derivative assets (D)(E)* |
23,400
|
|
| Liabilities |
|
|
| Repurchase agreements |
599,959
|
|
| Mortgage notes payable |
88,400
|
|
| 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) |
258,347
|
|
| Non-hedge derivative assets (D)(E)* |
224
|
|
| Liabilities |
|
|
| Interest rate swaps, treated as hedges (C)(E)* |
14,009
|
|
| Non-hedge derivatives (D)(E)* |
22,510
|
|
|
Estimate of Fair Value, Fair Value Disclosure [Member] | Non Recourse VIE Financing Structures
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
591,929
|
|
| Real estate related loans, held-for-sale, net |
840,122
|
|
| Residential mortgage loans, held-for-investment, net |
302,073
|
|
| Loans subject to call option (carrying value) |
405,525
|
|
| Restricted Cash* |
2,829
|
|
| Operating real estate, held-for-sale |
7,839
|
|
| Other investments |
18,883
|
|
| Receivables and other assets |
6,432
|
|
| Total Assets |
2,175,632
|
|
| Liabilities |
|
|
| CDO bonds payable |
802,107
|
|
| Other bonds and notes payable |
204,991
|
|
| Repurchase agreements |
5,368
|
|
| Financing of subprime mortgage loans subject to call option (B) |
405,525
|
|
| Interest rate swaps, treated as hedges (C)(E)* |
14,009
|
|
| Non-hedge derivatives (D)(E)* |
22,510
|
|
| Dividends payable, accrued expenses and other liabilities |
8,241
|
|
| Total Liabilities |
1,462,751
|
|
|
Estimate of Fair Value, Fair Value Disclosure [Member] | Recourse Financing Structures Unlevered Assets and Other Liabilities
|
|
|
| Assets |
|
|
| Real estate securities, available-for-sale* |
788,431
|
|
| Real estate related loans, held-for-sale, net |
9,418
|
|
| Residential mortgage loans, held-for-sale, net |
2,566
|
|
| Investments in excess mortgage servicing rights at fair value*(H) |
258,347
|
|
| Cash and Cash Equivalents, End of Period |
229,036
|
|
| Non-hedge derivative assets (D)(E)* |
224
|
|
| Investments in real estate and resident lease intangibles, net |
143,300
|
|
| Other investments |
6,024
|
|
| Receivables and other assets |
33,571
|
|
| Total Assets |
1,470,917
|
|
| Liabilities |
|
|
| Repurchase agreements |
599,959
|
|
| Mortgage notes payable |
88,400
|
|
| Junior subordinated notes payable |
31,588
|
|
| Due to affiliates |
3,351
|
|
| Dividends payable, accrued expenses and other liabilities |
51,405
|
|
| Total Liabilities |
$ 774,703
|
|
|
Real Estate Securities Available For Sale Non Recourse
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
8.64%
|
|
| Weighted Average Maturity (Years) |
3.5
|
|
|
Real Estate Securities Available For Sale Recourse
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
3.01%
|
|
| Weighted Average Maturity (Years) |
3.9
|
|
|
Investments in Excess MSRs
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
17.60%
|
|
| Weighted Average Maturity (Years) |
5.5
|
|
|
Derivative Financial Instruments, Assets Non Hedge
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
N/A
|
|
| Weighted Average Maturity (Years) |
(D)
|
|
|
CDO Bonds Payable
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
2.02%
|
|
| Weighted Average Maturity (Years) |
2.7
|
|
|
OtherBondsAndNotesPayableNRMember
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
4.92%
|
|
| Weighted Average Maturity (Years) |
4.2
|
|
|
RepurchaseAgreementsNonRecourseMember
|
|
|
| Liabilities |
|
|
| Weighted Average Yield/Funding Cost |
2.21%
|
|
| Weighted Average Maturity (Years) |
0.0
|
|
|
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 |
0.60%
|
|
| Weighted Average Maturity (Years) |
0.1
|
|