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 9 Months Ended 9 Months Ended 9 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
MSRs Pool 1
Dec. 13, 2011
MSRs Pool 1
Sep. 30, 2013
MSR Pool 1 Recapture Agreement
Sep. 30, 2013
MSRs Pool 2
Jun. 05, 2012
MSRs Pool 2
Sep. 30, 2013
MSR Pool 2 Recapture Agreement
Sep. 30, 2013
MSRs Pool 3
Sep. 30, 2013
MSR Pool 3 Recapture Agreement
Sep. 30, 2013
MSRs Pool 4
Sep. 30, 2013
MSR Pool 4 Recapture Agreement
Sep. 30, 2013
MSRs Pool 5
Sep. 30, 2013
MSR Pool 5 Recapture Agreement
Sep. 30, 2013
MSR Pool 11 Recapture Agreement
Sep. 30, 2013
MSRs Pool 12
Sep. 23, 2013
MSRs Pool 12
Sep. 30, 2013
MSR Pool 12 Recapture Agreement
Sep. 30, 2013
MSRs
Unpaid principal balance of underlying loans         $ 7,171,426      $ 8,217,751      $ 8,066,890    $ 5,222,892    $ 38,315,786       $ 5,321,060      $ 72,315,805
Interest in Excess MSR         65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 80.00% 80.00% 66.70% 40.00% 40.00% 40.00%  
Amortized Cost Basis         27,255 [1]   2,230 [1] 30,806 [1]   1,934 [1] 25,250 [1] 3,608 [1] 10,032 [1] 2,509 [1] 121,544 [1] 9,277 [1] 2,391 [1] 16,963 [1]   479 [1] 254,278 [1]
Carrying Value         37,907 [2]   4,629 [2] 35,592 [2]   5,882 [2] 34,063 [2] 5,231 [2] 13,743 [2] 3,446 [2] 142,387 [2] 4,779 [2] 2,391 [2] 17,032 [2]   486 [2] 307,568 [2]
Weighted average yield     2.48% [3]   12.50%   12.50% 12.50%   12.50% 12.50% 12.50% 12.50% 12.50% 12.70% 12.70% 12.50% 16.40%   16.40% 12.90%
Weighted average life (years)     3 years 6 months [3],[4]   4 years 10 months 24 days [5]   11 years 3 months 18 days [5] 5 years 2 months 12 days [5]   12 years 3 months 18 days [5] 4 years 9 months 18 days [5] 11 years 7 months 6 days [5] 5 years 2 months 12 days [5] 11 years 7 months 6 days [5] 5 years 4 months 24 days [5] 12 years 6 months [5] 10 years 2 months 12 days [5] 4 years 7 months 6 days [5]   13 years 7 months 6 days [5] 5 years 9 months 18 days [5]
Change in fair value of investments recorded in other income $ 208 $ 1,774 $ 43,899 $ 6,513 $ 4,914 [6]   $ 1,893 [6] $ 3,742 [6]   $ 3,767 [6] $ 5,958 [6] $ 1,699 [6] $ 2,693 [6] $ 951 [6] $ 18,864 [6] $ (656) [6]    [6] $ 69 [6]   $ 5 [6] $ 43,899 [6]
[1] (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.
[2] (B) Carrying Value represents the fair value of the pools or Recapture Agreements, as applicable.
[3] (G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.
[4] (C) The weighted average life is based on the timing of expected principal reduction on the assets.
[5] (C) Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[6] (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.