Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN SERVICER ADVANCES - Investment in Servicer Advances (Details)

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INVESTMENTS IN SERVICER ADVANCES - Investment in Servicer Advances (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2014
Dec. 31, 2013
Mar. 31, 2014
Servicer Advance Joint Venture {Member]
Dec. 17, 2013
Servicer Advance Joint Venture {Member]
Servicer advance fee, amortized cost basis     $ 3,457,385  
Servicer advances $ 3,457,385 $ 2,665,551 $ 3,457,385 [1] $ 3,200,000
Weighted Average Yield     5.80%  
Weighted Average Life     3 years 2 months 12 days [2]  
[1] Carrying value represents the fair value of the investments in servicer advances, including the basic fee component of the related MSRs.
[2] Weighted Average Life represents the weighted average expected timing of the receipt of expected net cash flows for this investment.