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Quarterly Financial Data Quarterly Financial Data (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Dec. 31, 2012
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Sep. 30, 2012
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Jun. 30, 2012
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Mar. 31, 2012
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Dec. 31, 2011
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Sep. 30, 2011
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Jun. 30, 2011
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Mar. 31, 2011
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Dec. 31, 2010
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Sep. 30, 2010
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Jun. 30, 2010
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Mar. 31, 2010
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Dec. 31, 2012
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Dec. 31, 2011
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Dec. 31, 2010
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| Interest income: | |||||||||||||||
| Available-for-sale securities | $ 135,466 | $ 124,621 | $ 104,319 | $ 84,214 | $ 71,713 | $ 65,919 | $ 39,959 | $ 19,535 | $ 12,780 | $ 11,823 | $ 9,088 | $ 6,153 | $ 448,620 | $ 197,126 | $ 39,844 |
| Trading securities | 1,295 | 1,278 | 1,250 | 1,050 | 1,376 | 1,706 | 805 | 272 | 155 | 15 | 0 | 0 | 4,873 | 4,159 | 170 |
| Mortgage loans held-for-sale | 247 | 167 | 126 | 69 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 609 | 2 | 0 |
| Cash and cash equivalents | 324 | 243 | 209 | 168 | 106 | 114 | 64 | 63 | 37 | 27 | 37 | 6 | 944 | 347 | 107 |
| Total interest income | 137,332 | 126,309 | 105,904 | 85,501 | 73,197 | 67,739 | 40,828 | 19,870 | 12,972 | 11,865 | 9,125 | 6,159 | 455,046 | 201,634 | 40,121 |
| Interest expense | 24,369 | 20,743 | 15,527 | 11,467 | 9,129 | 7,218 | 3,863 | 2,499 | 1,644 | 1,396 | 863 | 518 | 72,106 | 22,709 | 4,421 |
| Net interest income | 112,963 | 105,566 | 90,377 | 74,034 | 64,068 | 60,521 | 36,965 | 17,371 | 11,328 | 10,469 | 8,262 | 5,641 | 382,940 | 178,925 | 35,700 |
| Other-than-temporary impairments: | |||||||||||||||
| Total other-than-temporary impairment losses | (1,642) | (559) | (4,476) | (4,275) | (1,437) | (3,371) | (294) | 0 | 0 | 0 | 0 | 0 | (10,952) | (5,102) | 0 |
| Non-credit portion of loss recognized in other comprehensive income (loss) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net other-than-temporary credit impairment losses | 1,642 | 559 | 4,476 | 4,275 | 1,437 | 3,371 | 294 | 0 | 0 | 0 | 0 | 0 | 10,952 | 5,102 | 0 |
| Other income: | |||||||||||||||
| Gain on investment securities, net | 108,219 | 2,527 | 1,789 | 9,931 | 360 | 31,432 | 3,189 | 1,539 | 1,519 | 2,577 | 834 | 1,197 | 122,466 | 36,520 | 6,127 |
| Loss on interest rate swap and swaption agreements | (6,096) | (76,472) | (61,014) | (16,193) | 1,411 | (39,311) | (50,808) | 1,939 | 3,693 | (4,436) | (4,054) | (1,547) | (159,775) | (86,769) | (6,344) |
| Gain (loss) on other derivative instruments | (27,276) | 2,850 | (7,577) | (8,903) | (10,719) | 22,361 | 9,766 | 5,347 | 2,959 | 3,098 | 153 | 946 | (40,906) | 26,755 | 7,156 |
| Gain on mortgage loans | 1,679 | 613 | 10 | (32) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,270 | 0 | 0 |
| Total other (loss) income | 76,526 | (70,482) | (66,792) | (15,197) | (8,948) | 14,482 | (37,853) | 8,825 | 8,171 | 1,239 | (3,067) | 596 | (75,945) | (23,494) | 6,939 |
| Expenses: | |||||||||||||||
| Management fees | 9,886 | 8,929 | 7,610 | 6,743 | 5,178 | 4,785 | 2,728 | 1,550 | 921 | 863 | 748 | 457 | 33,168 | 14,241 | 2,989 |
| Other operating expenses | 6,255 | 3,954 | 3,919 | 3,550 | 3,156 | 2,850 | 2,155 | 1,512 | 1,246 | 1,213 | 1,132 | 987 | 17,678 | 9,673 | 4,578 |
| Total expenses | 16,141 | 12,883 | 11,529 | 10,293 | 8,334 | 7,635 | 4,883 | 3,062 | 2,167 | 2,076 | 1,880 | 1,444 | 50,846 | 23,914 | 7,567 |
| Income from continuing operations before income taxes | 171,706 | 21,642 | 7,580 | 44,269 | 45,349 | 63,997 | (6,065) | 23,134 | 17,332 | 9,632 | 3,315 | 4,793 | 245,197 | 126,415 | 35,072 |
| Benefit from income taxes | (10,203) | (7,834) | (16,605) | (7,577) | (6,170) | 9,388 | (5,081) | 757 | 872 | (246) | (774) | (535) | (42,219) | (1,106) | (683) |
| Net income from continuing operations | 181,909 | 29,476 | 24,185 | 51,846 | 51,519 | 54,609 | (984) | 22,377 | 16,460 | 9,878 | 4,089 | 5,328 | 287,416 | 127,521 | 35,755 |
| Income (loss) from discontinued operations | 7,391 | (2,674) | (181) | (46) | (89) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4,490 | (89) | 0 |
| Net income attributable to common stockholders | $ 189,300 | $ 26,802 | $ 24,004 | $ 51,800 | $ 51,430 | $ 54,609 | $ (984) | $ 22,377 | $ 16,460 | $ 9,878 | $ 4,089 | $ 5,328 | $ 291,906 | $ 127,432 | $ 35,755 |
| Basic earnings (loss) per weighted average common share: | |||||||||||||||
| Continuing operations | $ 0.62 | $ 0.11 | $ 0.11 | $ 0.28 | $ 0.37 | $ 0.42 | $ (0.01) | $ 0.49 | $ 0.60 | $ 0.38 | $ 0.18 | $ 0.40 | $ 1.19 | $ 1.29 | $ 1.60 |
| Discontinued operations | $ 0.02 | $ (0.01) | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.02 | $ 0.00 | $ 0.00 |
| Net income | $ 0.64 | $ 0.10 | $ 0.11 | $ 0.28 | $ 0.37 | $ 0.42 | $ (0.01) | $ 0.49 | $ 0.60 | $ 0.38 | $ 0.18 | $ 0.40 | $ 1.21 | $ 1.29 | $ 1.60 |
| Diluted earnings (loss) per weighted average common share: | |||||||||||||||
| Continuing operations | $ 0.61 | $ 0.11 | $ 0.11 | $ 0.28 | $ 0.37 | $ 0.42 | $ (0.01) | $ 0.49 | $ 0.60 | $ 0.38 | $ 0.18 | $ 0.40 | $ 1.18 | $ 1.29 | $ 1.60 |
| Discontinued operations | $ 0.03 | $ (0.01) | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.02 | $ 0.00 | $ 0.00 |
| Net income | $ 0.64 | $ 0.10 | $ 0.11 | $ 0.28 | $ 0.37 | $ 0.42 | $ (0.01) | $ 0.49 | $ 0.60 | $ 0.38 | $ 0.18 | $ 0.40 | $ 1.20 | $ 1.29 | $ 1.60 |
| Basic weighted average number of shares of common stock | 295,492,372 | 270,005,212 | 214,810,579 | 186,855,589 | 140,592,941 | 130,607,566 | 77,101,606 | 45,612,376 | 27,532,462 | 26,126,212 | 22,466,691 | 13,401,368 | 242,014,751 | 98,826,868 | 22,381,683 |
| Diluted weighted average number of shares of common stock | 296,229,245 | 270,937,960 | 214,810,579 | 186,855,589 | 140,592,941 | 130,607,566 | 77,101,606 | 45,612,376 | 27,532,462 | 26,126,212 | 22,466,691 | 13,401,368 | 242,432,156 | 98,826,868 | 22,381,683 |
| X | ||||||||||
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- Definition
Net interest spread, early termination gains (losses), and changes in unrealized gain (loss) on interest rate swap and swaption agreements, at fair value. No definition available.
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- Definition
The gains (losses) included in earnings that represent (1) increases or decreases in the market value of mortgage loans held-for-sale and commitments to purchase or sell mortgage loans, and (2) the difference between the sale price and the carrying value of mortgage loans held-for-sale and commitments to purchase or sell mortgage loans. No definition available.
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- Definition
The aggregate costs related to asset management during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Net Increase or Decrease in the fair value of the derivative or group of derivatives included in earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) derived from discontinued operations during the period, net of related tax effect, per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income or loss derived from discontinued operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Interest income on securities classified neither as held-to-maturity nor trading ("available-for-sale securities") includes: (a) interest and dividends earned on all securities and (b) amortization and accretion (as applicable) of discounts and premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Interest and dividend income on securities that are bought and held principally for the purpose of selling them in the near term ("trading securities") and on securities measured at fair value through earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Interest and fee income from mortgage loans considered to be held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Interest earned on deposits in United States money market accounts and other United States interest earning accounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents investment income derived from investments in debt and equity securities consisting of interest income earned from investments in debt securities and on cash and cash equivalents, dividend income from investments in equity securities, and income or expense derived from the amortization of investment related discounts or premiums, respectively, net of related investment expenses. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized, and does not include investment income from real or personal property, such as rental income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The amount by which the fair value of an investment in debt and equity securities categorized as Available-for-sale is less than the amortized cost basis or carrying amount of that investment at the balance sheet date and the decline in fair value is deemed to be other than temporary, before considering whether or not such amount is recognized in earnings or other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Before tax amount of other than temporary impairment (OTTI) on a debt security, categorized as available-for-sale, recognized in other comprehensive income (loss), attributable to the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of other than temporary impairment losses on investments in debt and equity securities categorized as Available-for-sale which have been recognized in earnings during the period. Such impairment losses consist of other than temporary impairments (OTTI) on equity securities, credit losses on investments in debt securities, and when the entity intends to sell an impaired debt security or it is more likely than not that the entity will be required to sell the impaired debt security before recovery of its amortized cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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