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SECURITIES - Portfolio (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional $ 109,210,522 $ 96,221,329
Remaining Premium 2,471,843 2,378,411
Remaining Discount (1,270,077) (1,449,850)
Amortized Cost 72,059,476 71,231,784
Unrealized Gains 235,755 612,427
Unrealized Losses (2,538,784) (2,230,646)
Estimated Fair Value [1] 69,756,447 69,613,565
Multifamily Interest-Only Security    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 22,900,000 14,000,000
Prime interest-only    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 1,800,000 900,000
Prime jumbo interest-only    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 10,200,000 9,100,000
Total residential securities    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 109,136,371 95,996,732
Remaining Premium 2,471,650 2,378,396
Remaining Discount (1,270,077) (1,449,028)
Amortized Cost 71,985,132 71,007,994
Unrealized Gains 235,717 612,408
Unrealized Losses (2,538,680) (2,229,281)
Estimated Fair Value 69,682,169 69,391,121
Agency    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 94,934,189 82,895,356
Remaining Premium 2,353,540 2,287,261
Remaining Discount (1,190,316) (1,328,751)
Amortized Cost 69,785,171 67,874,312
Unrealized Gains 155,445 535,689
Unrealized Losses (2,506,548) (2,101,213)
Estimated Fair Value 67,434,068 66,308,788
Agency | Fixed-rate pass-through    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 65,010,762 63,444,987
Remaining Premium 1,329,117 1,448,886
Remaining Discount (1,178,444) (1,318,948)
Amortized Cost 65,161,435 63,574,925
Unrealized Gains 130,742 477,242
Unrealized Losses (2,242,503) (1,853,226)
Estimated Fair Value 63,049,674 62,198,941
Agency | Adjustable-rate pass-through    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 157,123 188,996
Remaining Premium 11,936 15,834
Remaining Discount (42) (51)
Amortized Cost 169,017 204,779
Unrealized Gains 2,216 1,663
Unrealized Losses (8,995) (14,953)
Estimated Fair Value 162,238 191,489
Agency | CMO    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 87,467 94,448
Remaining Premium 1,459 1,612
Remaining Discount 0 0
Amortized Cost 88,926 96,060
Unrealized Gains 0 0
Unrealized Losses (15,242) (13,088)
Estimated Fair Value 73,684 82,972
Agency | Interest-only    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 3,437,570 2,010,697
Remaining Premium 493,803 416,955
Remaining Discount 0 0
Amortized Cost 493,803 416,955
Unrealized Gains 14,843 4,729
Unrealized Losses (127,914) (157,679)
Estimated Fair Value 380,732 264,005
Agency | Multifamily    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 26,216,351 17,130,045
Remaining Premium 514,726 400,781
Remaining Discount (11,830) (9,752)
Amortized Cost 3,844,575 3,552,217
Unrealized Gains 7,644 52,055
Unrealized Losses (110,454) (59,744)
Estimated Fair Value 3,741,765 3,544,528
Agency | Reverse mortgages    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 24,916 26,183
Remaining Premium 2,499 3,193
Remaining Discount 0 0
Amortized Cost 27,415 29,376
Unrealized Gains 0 0
Unrealized Losses (1,440) (2,523)
Estimated Fair Value 25,975 26,853
Residential credit    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 14,202,182 13,101,376
Remaining Premium 118,110 91,135
Remaining Discount (79,761) (120,277)
Amortized Cost 2,199,961 3,133,682
Unrealized Gains 80,272 76,719
Unrealized Losses (32,132) (128,068)
Estimated Fair Value 2,248,101 3,082,333
Residential credit | Credit risk transfer    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 707,169 924,729
Remaining Premium 1,608 2,240
Remaining Discount (3,581) (4,358)
Amortized Cost 705,196 922,611
Unrealized Gains 49,819 51,984
Unrealized Losses (100) (536)
Estimated Fair Value 754,915 974,059
Residential credit | Alt-A    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 172,368 164,384
Remaining Premium 35 9
Remaining Discount (1,724) (3,922)
Amortized Cost 170,679 160,471
Unrealized Gains 2,694 2,135
Unrealized Losses (8,481) (12,371)
Estimated Fair Value 164,892 150,235
Residential credit | Prime    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 1,824,609 1,076,497
Remaining Premium 27,484 8,590
Remaining Discount (10,228) (21,163)
Amortized Cost 43,725 207,077
Unrealized Gains 2,732 1,704
Unrealized Losses (667) (28,134)
Estimated Fair Value 45,790 180,647
Residential credit | Subprime    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 280,820 272,955
Remaining Premium 12 0
Remaining Discount (30,081) (31,751)
Amortized Cost 250,751 241,204
Unrealized Gains 6,325 5,622
Unrealized Losses (11,493) (11,221)
Estimated Fair Value 245,583 235,605
Residential credit | NPL/RPL    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 882,547 1,237,531
Remaining Premium 4,540 8,336
Remaining Discount (3,762) (9,224)
Amortized Cost 883,325 1,236,643
Unrealized Gains 1,630 4,578
Unrealized Losses (6,347) (43,666)
Estimated Fair Value 878,608 1,197,555
Residential credit | Prime jumbo(>=2010 vintage)    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 10,334,669 9,425,280
Remaining Premium 84,431 71,960
Remaining Discount (30,385) (49,859)
Amortized Cost 146,285 365,676
Unrealized Gains 17,072 10,696
Unrealized Losses (5,044) (32,140)
Estimated Fair Value 158,313 344,232
Commercial securities    
Mortgage-Backed Securities Portfolio [Line Items]    
Principal / Notional 74,151 224,597
Remaining Premium 193 15
Remaining Discount 0 (822)
Amortized Cost 74,344 223,790
Unrealized Gains 38 19
Unrealized Losses (104) (1,365)
Estimated Fair Value $ 74,278 $ 222,444
[1]
(2) Excludes $2.2 billion and $1.5 billion at December 31, 2024 and 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.