Quarterly report pursuant to Section 13 or 15(d)

Schedule of Real Estate Securities Holdings in an Unrealized Loss Position (Details)

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Schedule of Real Estate Securities Holdings in an Unrealized Loss Position (Details) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Integer
Dec. 31, 2012
Outstanding Face Amount $ 2,946,191 [1],[2]  
Before Impairment - Amortized Cost Basis 2,585,484 [1]  
Other Than Temporary Impairment - Amortized Cost Basis (202,792) [1]  
Amortized Cost Basis 2,382,692 [1],[3]  
Gains - Gross Unrealized 124,795 [1]  
Losses - Gross Unrealized (12,014) [1]  
Carrying Value 2,495,473 [1],[4] 1,691,575
Number of Investments 275 [1]  
Weighted Average Rating BBB- [1],[5]  
Weighted Average Coupon 2.84% [1]  
Weighted Average Yield 3.92% [1]  
Weighted Average Maturity (Years) 4 years 8 months [1],[6]  
Securities in an Unrealized Loss Position Less than Twelve Months
    
Outstanding Face Amount 562,897  
Before Impairment - Amortized Cost Basis 509,420  
Other Than Temporary Impairment - Amortized Cost Basis (5,236)  
Amortized Cost Basis 504,184  
Gains - Gross Unrealized     
Losses - Gross Unrealized (3,230)  
Carrying Value 500,954  
Number of Investments 34  
Weighted Average Rating BBB  
Weighted Average Coupon 2.44%  
Weighted Average Yield 2.15%  
Weighted Average Maturity (Years) 5 years 11 months  
Securities in an Unrealized Loss Position Greater than Twelve Months
    
Outstanding Face Amount 119,054  
Before Impairment - Amortized Cost Basis 118,953  
Other Than Temporary Impairment - Amortized Cost Basis (236)  
Amortized Cost Basis 118,717  
Gains - Gross Unrealized     
Losses - Gross Unrealized (8,784)  
Carrying Value 109,933  
Number of Investments 24  
Weighted Average Rating BB-  
Weighted Average Coupon 4.44%  
Weighted Average Yield 4.63%  
Weighted Average Maturity (Years) 1 year 6 months  
Securities in an Unrealized Loss Position
    
Outstanding Face Amount 681,951  
Before Impairment - Amortized Cost Basis 628,373  
Other Than Temporary Impairment - Amortized Cost Basis (5,472)  
Amortized Cost Basis 622,901  
Gains - Gross Unrealized     
Losses - Gross Unrealized (12,014)  
Carrying Value $ 610,887  
Number of Investments 58  
Weighted Average Rating BBB  
Weighted Average Coupon 2.79%  
Weighted Average Yield 2.62%  
Weighted Average Maturity (Years) 5 years 1 month  
[1] (G) The total outstanding face amount of fixed rate securities was $0.5 billion, and of floating rate securities was $2.4 billion.
[2] (A) Net of incurred losses.
[3] (B) Net of discounts (or gross of premiums) and after OTTI, including impairment taken during the period ended March 31, 2013.
[4] (A) See Note 9 regarding the estimation of fair value, which is equal to carrying value for all securities.
[5] (B) Represents the weighted average of the ratings of all securities in each asset type, expressed as an S&P equivalent rating. For each security rated by multiple rating agencies, the lowest rating is used. Newcastle used an implied AAA rating for the FNMA/FHLMC securities. Ratings provided were determined by third party rating agencies as of a particular date, may not be current and are subject to change at any time.
[6] (C) The weighted average maturity is based on the timing of expected principal reduction on the assets.