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Distressed Residential Mortgage Loans - Distressed Residential Mortgage Loans Activity (Details) - Financing arrangements, residential mortgage loans - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Movement in Mortgage Loans on Real Estate [Roll Forward]    
Balance at beginning of period $ 640,416 [1] $ 171,112
Additions 173,497 598,247
Disposals (195,615) (110,309)
Accretion (39,289) (18,634)
Balance at end of period [1] $ 579,009 $ 640,416
[1] Accretable yield is the excess of the distressed residential mortgage loans’ cash flows expected to be collected over the purchase price. The cash flows expected to be collected represents the Company’s estimate of the amount and timing of undiscounted principal and interest cash flows. Additions include accretable yield estimates for purchases made during the period and reclassification to accretable yield from nonaccretable yield. Deletions include distressed residential mortgage loan dispositions, which include refinancing, sale and foreclosure of the underlying collateral and resulting removal of the distressed residential mortgage loans from the accretable yield, and reclassifications from accretable to nonaccretable yield. The reclassifications between accretable and nonaccretable yield and the accretion of interest income is based on various estimates regarding loan performance and the value of the underlying real estate securing the loans. As the Company continues to gather additional information regarding the loans and the underlying collateral, the accretable yield may change. Therefore, the amount of accretable income recorded in the twelve-month period ended December 31, 2015 is not necessarily indicative of future results.