Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS AT FAIR VALUE - DIRECT INVESTMENTS (Details)

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INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS AT FAIR VALUE - DIRECT INVESTMENTS (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Weighted average yield 3.26%  
Weighted average maturity (years) 5 years 11 months [1],[2]  
Change in fair value of investments recorded in other income $ 1,858 $ 1,216
MSRs Pool 1
   
Unpaid principal balance of underlying loans 8,021,789  
Amortized Cost Basis 29,329 [3]  
Carrying Value 35,333 [4]  
Weighted average yield 18.00%  
Weighted average maturity (years) 4 years 10 months [5]  
Change in fair value of investments recorded in other income 266 [6]  
MSR Pool 1 Recapture Agreement
   
Unpaid principal balance of underlying loans     
Amortized Cost Basis 3,676 [3]  
Carrying Value 4,355 [4]  
Weighted average yield 18.00%  
Weighted average maturity (years) 11 years  
Change in fair value of investments recorded in other income 174 [6]  
MSRs Pool 2
   
Unpaid principal balance of underlying loans 9,038,057  
Amortized Cost Basis 32,345 [3]  
Carrying Value 33,695 [4]  
Weighted average yield 17.30%  
Weighted average maturity (years) 5 years  
Change in fair value of investments recorded in other income 306 [6]  
MSR Pool 2 Recapture Agreement
   
Unpaid principal balance of underlying loans     
Amortized Cost Basis 4,108 [3]  
Carrying Value 4,880 [4]  
Weighted average yield 17.30%  
Weighted average maturity (years) 12 years  
Change in fair value of investments recorded in other income 591 [6]  
MSRs Pool 3
   
Unpaid principal balance of underlying loans 8,758,689  
Amortized Cost Basis 26,502 [3]  
Carrying Value 30,126 [4]  
Weighted average yield 17.60%  
Weighted average maturity (years) 4 years 8 months  
Change in fair value of investments recorded in other income 768 [6]  
MSR Pool 3 Recapture Agreement
   
Unpaid principal balance of underlying loans     
Amortized Cost Basis 4,598 [3]  
Carrying Value 4,552 [4]  
Weighted average yield 17.60%  
Weighted average maturity (years) 11 years 5 months  
Change in fair value of investments recorded in other income 30 [6]  
MSRs Pool 4
   
Unpaid principal balance of underlying loans 5,586,851  
Amortized Cost Basis 10,809 [3]  
Carrying Value 11,969 [4]  
Weighted average yield 17.90%  
Weighted average maturity (years) 4 years 7 months  
Change in fair value of investments recorded in other income 141 [6]  
MSR Pool 4 Recapture Agreement
   
Unpaid principal balance of underlying loans     
Amortized Cost Basis 2,763 [3]  
Carrying Value 2,705 [4]  
Weighted average yield 17.90%  
Weighted average maturity (years) 11 years 1 month  
Change in fair value of investments recorded in other income (43) [6]  
MSRs Pool 5
   
Unpaid principal balance of underlying loans 41,917,506  
Amortized Cost Basis 102,718 [3]  
Carrying Value 104,507 [4]  
Weighted average yield 17.50%  
Weighted average maturity (years) 4 years 8 months  
Change in fair value of investments recorded in other income (190) [6]  
MSR Pool 5 Recapture Agreement
   
Unpaid principal balance of underlying loans     
Amortized Cost Basis 8,460 [3]  
Carrying Value 4,433 [4]  
Weighted average yield 17.50%  
Weighted average maturity (years) 11 years 8 months  
Change in fair value of investments recorded in other income (185) [6]  
MSRs
   
Unpaid principal balance of underlying loans 73,322,892  
Amortized Cost Basis 225,308 [3]  
Carrying Value 236,555 [4]  
Weighted average yield 17.60%  
Weighted average maturity (years) 5 years 5 months  
Change in fair value of investments recorded in other income $ 1,858 [6]  
[1] The weighted average maturity is based on the timing of expected principal reduction on the assets.
[2] The total outstanding face amount of fixed rate securities was $1.1 million, and of floating rate securities was $1.5 billion.
[3] The amortized cost basis of the Recapture Agreements is determined based on the relative fair values of the Recapture Agreements and related Excess MSRs at the time they were acquired.
[4] Carrying Value represents the fair value of the pools or Recapture Agreements, as applicable.
[5] Weighted Average Maturity represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[6] The portion of the change in fair value of the Recapture Agreements relating to loans recaptured to date is reflected in the respective pool.