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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, 2013
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Sep. 30, 2013
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Jun. 30, 2013
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Mar. 31, 2013
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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, 2013
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Dec. 31, 2012
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Dec. 31, 2011
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| Interest income: | |||||||||||
| Available-for-sale securities | $ 507,180 | $ 448,620 | $ 197,126 | ||||||||
| Trading securities | 5,963 | 4,873 | 4,159 | ||||||||
| Mortgage loans held-for-sale | 22,185 | 609 | 2 | ||||||||
| Mortgage loans held-for-investment in securitization trusts | 19,220 | 0 | 0 | ||||||||
| Cash and cash equivalents | 1,043 | 944 | 347 | ||||||||
| Total interest income | 137,457 | 137,974 | 145,325 | 134,835 | 137,332 | 126,309 | 105,904 | 85,501 | 555,591 | 455,046 | 201,634 |
| Interest expense: | |||||||||||
| Repurchase agreements | 89,470 | 72,106 | 22,709 | ||||||||
| Collateralized borrowings in securitization trusts | 10,937 | 0 | 0 | ||||||||
| Total interest expense | 26,922 | 24,927 | 24,722 | 23,836 | 24,369 | 20,743 | 15,527 | 11,467 | 100,407 | 72,106 | 22,709 |
| Net interest income | 110,535 | 113,047 | 120,603 | 110,999 | 112,963 | 105,566 | 90,377 | 74,034 | 455,184 | 382,940 | 178,925 |
| Other-than-temporary impairment losses | 0 | 0 | (1,426) | (236) | (1,642) | (559) | (4,476) | (4,275) | (1,662) | (10,952) | (5,102) |
| Other income: | |||||||||||
| (Loss) gain on investment securities | (54,430) | 122,466 | 36,520 | ||||||||
| Gain (loss) on interest rate swap and swaption agreements | 245,229 | (159,775) | (86,769) | ||||||||
| Gain (loss) on other derivative instruments | 95,345 | (40,906) | 26,755 | ||||||||
| (Loss) gain on mortgage loans held-for-sale | (33,846) | 2,270 | 0 | ||||||||
| Other income | 14,619 | 0 | 0 | ||||||||
| Total other income (loss) | 162,021 | (258,742) | 339,640 | 49,890 | 76,526 | (70,482) | (66,792) | (15,197) | 292,809 | (75,945) | (23,494) |
| Expenses: | |||||||||||
| Management fees | 41,707 | 33,168 | 14,241 | ||||||||
| Securitization deal costs | 4,153 | 0 | 0 | ||||||||
| Other operating expenses | 37,259 | 17,678 | 9,673 | ||||||||
| Total expenses | 27,275 | 24,178 | 22,077 | 13,350 | 16,141 | 12,883 | 11,529 | 10,293 | 86,880 | 50,846 | 23,914 |
| Income from continuing operations before income taxes | 659,451 | 245,197 | 126,415 | ||||||||
| Provision for (benefit from) income taxes | 6,602 | 23,726 | 49,119 | 4,964 | (10,203) | (7,834) | (16,605) | (7,577) | 84,411 | (42,219) | (1,106) |
| Net income from continuing operations | 238,679 | (193,599) | 387,621 | 142,339 | 181,909 | 29,476 | 24,185 | 51,846 | 575,040 | 287,416 | 127,521 |
| Income (loss) from discontinued operations | 735 | 871 | 1,016 | 1,377 | 7,391 | (2,674) | (181) | (46) | 3,999 | 4,490 | (89) |
| Net income attributable to common stockholders | $ 239,414 | $ (192,728) | $ 388,637 | $ 143,716 | $ 189,300 | $ 26,802 | $ 24,004 | $ 51,800 | $ 579,039 | $ 291,906 | $ 127,432 |
| Basic earnings (loss) per weighted average common share: | |||||||||||
| Continuing operations | $ 0.66 | $ (0.53) | $ 1.06 | $ 0.47 | $ 0.62 | $ 0.11 | $ 0.11 | $ 0.28 | $ 1.64 | $ 1.19 | $ 1.29 |
| Discontinued operations | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.02 | $ (0.01) | $ 0.00 | $ 0.00 | $ 0.01 | $ 0.02 | $ 0.00 |
| Net income | $ 0.66 | $ (0.53) | $ 1.06 | $ 0.47 | $ 0.64 | $ 0.10 | $ 0.11 | $ 0.28 | $ 1.65 | $ 1.21 | $ 1.29 |
| Diluted earnings (loss) per weighted average common share: | |||||||||||
| Continuing operations | $ 0.66 | $ (0.53) | $ 1.06 | $ 0.47 | $ 0.61 | $ 0.11 | $ 0.11 | $ 0.28 | $ 1.64 | $ 1.18 | $ 1.29 |
| Discontinued operations | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.03 | $ (0.01) | $ 0.00 | $ 0.00 | $ 0.01 | $ 0.02 | $ 0.00 |
| Net income | $ 0.66 | $ (0.53) | $ 1.06 | $ 0.47 | $ 0.64 | $ 0.10 | $ 0.11 | $ 0.28 | $ 1.65 | $ 1.20 | $ 1.29 |
| Basic weighted average number of shares of common stock | 350,361,827 | 242,014,751 | 98,826,868 | ||||||||
| Diluted weighted average number of shares of common stock | 350,992,387 | 242,432,156 | 98,826,868 | ||||||||
| 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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| X | ||||||||||
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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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| X | ||||||||||
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- Definition
Upfront costs related to subordinated debt and excess servicing rights purchased from a securitization trust issued by a third party. No definition available.
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| X | ||||||||||
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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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| X | ||||||||||
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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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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. 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) 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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| X | ||||||||||
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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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| X | ||||||||||
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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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| X | ||||||||||
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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
Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of operating dividend and interest income, including amortization and accretion of premiums and discounts, on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of operating dividend and interest income, including amortization and accretion of premiums and discounts, on trading securities and other forms of securities that provide ownership interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. 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
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Aggregate amount of interest paid or due on all long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Gross expenses on securities sold coupled with an agreement to repurchase the same from the same counterparty at a fixed or determinable price within a fixed or variable time period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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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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| X | ||||||||||
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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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| X | ||||||||||
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- Details
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| X | ||||||||||
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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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| X | ||||||||||
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- Definition
Represents other forms of revenue earned, excluding interest, which is not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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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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| X | ||||||||||
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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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| X | ||||||||||
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- Details
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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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| X | ||||||||||
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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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| X | ||||||||||
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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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