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 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Weighted average yield     26.50% [1]  
Weighted average life (years)     3 years 4 months 24 days  
Change in fair value of investments recorded in other income $ 41,833 $ 3,523 $ 43,691 $ 4,739
MSRs Pool 1
       
Unpaid principal balance of underlying loans 7,593,438   7,593,438  
Amortized Cost Basis 28,120 [2]   28,120 [2]  
Carrying Value 39,147 [3]   39,147 [3]  
Weighted average yield     12.50%  
Weighted average life (years)     4 years 10 months 24 days [4]  
Change in fair value of investments recorded in other income     5,290 [5]  
MSR Pool 1 Recapture Agreement
       
Unpaid principal balance of underlying loans          
Amortized Cost Basis 2,980 [2]   2,980 [2]  
Carrying Value 5,383 [3]   5,383 [3]  
Weighted average yield     12.50%  
Weighted average life (years)     11 years [4]  
Change in fair value of investments recorded in other income     1,897 [5]  
MSRs Pool 2
       
Unpaid principal balance of underlying loans 8,570,405   8,570,405  
Amortized Cost Basis 31,629 [2]   31,629 [2]  
Carrying Value 37,339 [3]   37,339 [3]  
Weighted average yield     12.50%  
Weighted average life (years)     5 years 1 month 6 days [4]  
Change in fair value of investments recorded in other income     4,666 [5]  
MSR Pool 2 Recapture Agreement
       
Unpaid principal balance of underlying loans          
Amortized Cost Basis 2,934 [2]   2,934 [2]  
Carrying Value 6,557 [3]   6,557 [3]  
Weighted average yield     12.50%  
Weighted average life (years)     12 years 1 month 6 days [4]  
Change in fair value of investments recorded in other income     3,441 [5]  
MSRs Pool 3
       
Unpaid principal balance of underlying loans 8,380,524   8,380,524  
Amortized Cost Basis 25,351 [2]   25,351 [2]  
Carrying Value 33,183 [3]   33,183 [3]  
Weighted average yield     12.50%  
Weighted average life (years)     4 years 9 months 18 days [4]  
Change in fair value of investments recorded in other income     4,976 [5]  
MSR Pool 3 Recapture Agreement
       
Unpaid principal balance of underlying loans          
Amortized Cost Basis 4,088 [2]   4,088 [2]  
Carrying Value 5,755 [3]   5,755 [3]  
Weighted average yield     12.50%  
Weighted average life (years)     11 years 6 months [4]  
Change in fair value of investments recorded in other income     1,742 [5]  
MSRs Pool 4
       
Unpaid principal balance of underlying loans 5,381,133   5,381,133  
Amortized Cost Basis 10,205 [2]   10,205 [2]  
Carrying Value 13,176 [3]   13,176 [3]  
Weighted average yield     12.50%  
Weighted average life (years)     4 years 7 months 6 days [4]  
Change in fair value of investments recorded in other income     1,952 [5]  
MSR Pool 4 Recapture Agreement
       
Unpaid principal balance of underlying loans          
Amortized Cost Basis 2,657 [2]   2,657 [2]  
Carrying Value 3,533 [3]   3,533 [3]  
Weighted average yield     12.50%  
Weighted average life (years)     11 years 1 month 6 days [4]  
Change in fair value of investments recorded in other income     891 [5]  
MSRs Pool 5
       
Unpaid principal balance of underlying loans 39,989,031   39,989,031  
Amortized Cost Basis 99,530 [2]   99,530 [2]  
Carrying Value 121,102 [3]   121,102 [3]  
Weighted average yield     12.50%  
Weighted average life (years)     5 years 6 months [4]  
Change in fair value of investments recorded in other income     19,594 [5]  
MSR Pool 5 Recapture Agreement
       
Unpaid principal balance of underlying loans          
Amortized Cost Basis 8,454 [2]   8,454 [2]  
Carrying Value 3,854 [3]   3,854 [3]  
Weighted average yield     12.50%  
Weighted average life (years)     12 years 9 months 18 days [4]  
Change in fair value of investments recorded in other income     (758) [5]  
MSR Pool 11 Recapture Agreement
       
Unpaid principal balance of underlying loans          
Amortized Cost Basis 2,391 [2]   2,391 [2]  
Carrying Value 2,391 [3]   2,391 [3]  
Weighted average yield     12.50%  
Change in fair value of investments recorded in other income        [5]  
MSRs
       
Unpaid principal balance of underlying loans 69,914,531   69,914,531  
Amortized Cost Basis 218,339 [2]   218,339 [2]  
Carrying Value 271,420 [3]   271,420 [3]  
Weighted average yield     12.50%  
Weighted average life (years)     5 years 9 months 18 days [4]  
Change in fair value of investments recorded in other income     $ 43,691 [5]  
[1] (G) The total outstanding face amount was $ 18.4 million for fixed rate securities and $ 1.97 billion for floating rate securities.
[2] (A) 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.
[3] (B) Carrying Value represents the fair value of the pools or Recapture Agreements, as applicable.
[4] (C) Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[5] (D) The portion of the change in fair value of the Recapture Agreements relating to loans recaptured to date is reflected in the respective pool.