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SECURITIES - Portfolio (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional $ 99,097,058 $ 96,221,329
Remaining Premium 2,239,816 2,378,411
Remaining Discount (1,290,514) (1,449,850)
Amortized Cost 69,312,100 71,231,784
Unrealized Gains 266,370 612,427
Unrealized Losses (2,533,717) (2,230,646)
Estimated Fair Value [1] 67,044,753 69,613,565 [2]
Total residential securities    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 98,984,770 95,996,732
Remaining Premium 2,239,700 2,378,396
Remaining Discount (1,290,467) (1,449,028)
Amortized Cost 69,199,743 71,007,994
Unrealized Gains 266,171 612,408
Unrealized Losses (2,533,713) (2,229,281)
Estimated Fair Value 66,932,201 69,391,121
Agency    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 85,210,788 82,895,356
Remaining Premium 2,134,704 2,287,261
Remaining Discount (1,203,402) (1,328,751)
Amortized Cost 66,705,761 67,874,312
Unrealized Gains 171,241 535,689
Unrealized Losses (2,486,097) (2,101,213)
Estimated Fair Value 64,390,905 66,308,788
Agency | Fixed-rate pass-through    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 62,483,207 63,444,987
Remaining Premium 1,273,211 1,448,886
Remaining Discount (1,194,156) (1,318,948)
Amortized Cost 62,562,262 63,574,925
Unrealized Gains 142,638 477,242
Unrealized Losses (2,230,420) (1,853,226)
Estimated Fair Value 60,474,480 62,198,941
Agency | Adjustable-rate pass-through    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 173,655 188,996
Remaining Premium 14,982 15,834
Remaining Discount (49) (51)
Amortized Cost 188,588 204,779
Unrealized Gains 2,118 1,663
Unrealized Losses (12,945) (14,953)
Estimated Fair Value 177,761 191,489
Agency | CMO    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 90,987 94,448
Remaining Premium 1,539 1,612
Remaining Discount 0 0
Amortized Cost 92,526 96,060
Unrealized Gains 0 0
Unrealized Losses (15,607) (13,088)
Estimated Fair Value 76,919 82,972
Agency | Interest-only    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 2,281,909 2,010,697
Remaining Premium 408,515 416,955
Remaining Discount 0 0
Amortized Cost 408,515 416,955
Unrealized Gains 8,991 4,729
Unrealized Losses (143,950) (157,679)
Estimated Fair Value 273,556 264,005
Agency | Multifamily    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 20,155,207 17,130,045
Remaining Premium 433,555 400,781
Remaining Discount (9,197) (9,752)
Amortized Cost 3,425,145 3,552,217
Unrealized Gains 17,494 52,055
Unrealized Losses (81,456) (59,744)
Estimated Fair Value 3,361,183 3,544,528
Agency | Reverse mortgages    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 25,823 26,183
Remaining Premium 2,902 3,193
Remaining Discount 0 0
Amortized Cost 28,725 29,376
Unrealized Gains 0 0
Unrealized Losses (1,719) (2,523)
Estimated Fair Value 27,006 26,853
Agency | Multifamily interest-only security    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 17,200,000 14,000,000
Residential credit    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 13,773,982 13,101,376
Remaining Premium 104,996 91,135
Remaining Discount (87,065) (120,277)
Amortized Cost 2,493,982 3,133,682
Unrealized Gains 94,930 76,719
Unrealized Losses (47,616) (128,068)
Estimated Fair Value 2,541,296 3,082,333
Residential credit | Credit risk transfer    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 780,293 924,729
Remaining Premium 1,863 2,240
Remaining Discount (3,843) (4,358)
Amortized Cost 778,313 922,611
Unrealized Gains 60,272 51,984
Unrealized Losses (148) (536)
Estimated Fair Value 838,437 974,059
Residential credit | Alt-A    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 165,585 164,384
Remaining Premium 37 9
Remaining Discount (1,889) (3,922)
Amortized Cost 163,733 160,471
Unrealized Gains 2,934 2,135
Unrealized Losses (9,739) (12,371)
Estimated Fair Value 156,928 150,235
Residential credit | Prime    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 1,372,222 1,076,497
Remaining Premium 14,026 8,590
Remaining Discount (10,409) (21,163)
Amortized Cost 30,527 207,077
Unrealized Gains 2,844 1,704
Unrealized Losses (559) (28,134)
Estimated Fair Value 32,812 180,647
Residential credit | Subprime    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 295,067 272,955
Remaining Premium 13 0
Remaining Discount (30,949) (31,751)
Amortized Cost 264,131 241,204
Unrealized Gains 6,963 5,622
Unrealized Losses (11,728) (11,221)
Estimated Fair Value 259,366 235,605
Residential credit | NPL/RPL    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 1,114,675 1,237,531
Remaining Premium 8,087 8,336
Remaining Discount (9,181) (9,224)
Amortized Cost 1,113,581 1,236,643
Unrealized Gains 3,247 4,578
Unrealized Losses (20,660) (43,666)
Estimated Fair Value 1,096,168 1,197,555
Residential credit | Prime jumbo (>=2010 vintage)    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 10,046,140 9,425,280
Remaining Premium 80,970 71,960
Remaining Discount (30,794) (49,859)
Amortized Cost 143,697 365,676
Unrealized Gains 18,670 10,696
Unrealized Losses (4,782) (32,140)
Estimated Fair Value 157,585 344,232
Residential credit | Prime interest-only    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 1,300,000 900,000
Residential credit | Prime jumbo interest-only    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 10,000,000 9,100,000
Commercial Securities    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 112,288 224,597
Remaining Premium 116 15
Remaining Discount (47) (822)
Amortized Cost 112,357 223,790
Unrealized Gains 199 19
Unrealized Losses (4) (1,365)
Estimated Fair Value $ 112,552 $ 222,444
[1]
(3)Excludes $1.8 billion and $1.5 billion at June 30, 2024 and December 31, 2023, respectively, of non-Agency mortgage-backed securities in consolidated VIEs pledged as collateral and eliminated from the Company’s Consolidated Statements of Financial Condition. 
[2]
(1)Derived from the audited consolidated financial statements at December 31, 2023.