Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Details)

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SEGMENT REPORTING (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Jun. 06, 2013
Apr. 09, 2013
Dec. 31, 2012
Interest income $ 16,191 $ 2,037      
Interest expense 899         
Net interest income 15,292 2,037      
Other income (loss) 2,827 1,216      
Other operating expenses 5,044 565      
Net income (loss) 13,075 2,688      
Investments 1,692,650        
Other assets 450       84
Total assets 1,693,100       534,876
Debt (915,058)   (47,000) (144,000) (150,922)
Other liabilities (10,623)        
Total liabilities (925,681)       (156,520)
GAAP book value 767,419        
Investments in equity method investees at fair value 102,588         
Excess MSRs
         
Interest income 10,035 2,037      
Interest expense            
Net interest income 10,035 2,037      
Other income (loss) 2,827 1,216      
Other operating expenses 62 386      
Net income (loss) 12,800 2,867      
Investments 339,143        
Other assets           
Total assets 339,143        
Debt           
Other liabilities (174)        
Total liabilities (174)        
GAAP book value 338,969        
Investments in equity method investees at fair value 102,588        
Real Estate Securities and Loans
         
Interest income 6,156         
Interest expense 899         
Net interest income 5,257         
Other income (loss)            
Other operating expenses            
Net income (loss) 5,257         
Investments 1,353,507        
Other assets 450        
Total assets 1,353,957        
Debt (915,058)        
Other liabilities (87)        
Total liabilities (915,145)        
GAAP book value 438,812        
Investments in equity method investees at fair value           
Corporate
         
Interest income            
Interest expense            
Net interest income            
Other income (loss)            
Other operating expenses 4,982 179      
Net income (loss) (4,982) (179)      
Investments           
Other assets           
Total assets           
Debt           
Other liabilities (10,362)        
Total liabilities (10,362)        
GAAP book value (10,362)        
Investments in equity method investees at fair value