2.4.0.8010910 - Disclosure - Mortgage Backed Securitiestruefalsefalse1false falsefalseFROM_Jan01_2013_TO_Jun30_2013http://www.sec.gov/CIK0001275477duration2013-01-01T00:00:002013-06-30T00:00:001true 1bmnm_MortgageBackedSecuritiesAbstractbmnm_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Mortgage Backed Securities [Abstract]2false 2bmnm_MortgageBackedSecuritiesTextBlockbmnm_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1falsefalsefalse00NOTE 2. MORTGAGE-BACKED SECURITIES  The following table presents the Company's MBS portfolio as of June 30, 2013 and December 31, 2012: <div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td colspan="2" style="width: 480px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:480px;">(in thousands)</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:110px;"> </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:110px;"> </td></tr><tr style="height: 17px"><td style="width: 15px; border-top-style:solid;border-top-width:2px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 465px; border-top-style:solid;border-top-width:2px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:465px;"> </td><td colspan="2" style="width: 120px; border-top-style:solid;border-top-width:2px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:120px;">June 30, 2013</td><td colspan="2" style="width: 120px; border-top-style:solid;border-top-width:2px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:120px;">December 31, 2012</td></tr><tr style="height: 17px"><td colspan="2" style="width: 480px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:480px;">Pass-Through MBS:</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:110px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:110px;"> </td></tr><tr style="height: 17px"><td style="width: 15px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 465px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:465px;">Hybrid Adjustable-rate Mortgages </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 110px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:110px;"> 116,618</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 110px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:110px;"> 87,693</td></tr><tr style="height: 17px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 465px; text-align:left;border-color:#000000;min-width:465px;">Adjustable-rate Mortgages </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; text-align:right;border-color:#000000;min-width:110px;"> 6,210</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; text-align:right;border-color:#000000;min-width:110px;"> 20,857</td></tr><tr style="height: 17px"><td style="width: 15px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 465px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:465px;">Fixed-rate Mortgages </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:110px;"> 233,243</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:110px;"> 49,846</td></tr><tr style="height: 17px"><td style="width: 15px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 465px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:465px;">Total Pass-Through MBS</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:110px;"> 356,071</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:110px;"> 158,396</td></tr><tr style="height: 17px"><td colspan="2" style="width: 480px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:480px;">Structured MBS:</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:110px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:110px;"> </td></tr><tr style="height: 17px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 465px; text-align:left;border-color:#000000;min-width:465px;">Interest-Only Securities</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; text-align:right;border-color:#000000;min-width:110px;"> 21,907</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; text-align:right;border-color:#000000;min-width:110px;"> 5,244</td></tr><tr style="height: 17px"><td style="width: 15px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 465px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:465px;">Inverse Interest-Only Securities</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:110px;"> 2,582</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:110px;"> 4,515</td></tr><tr style="height: 17px"><td style="width: 15px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 465px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:465px;">Total Structured MBS</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:110px;"> 24,489</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:110px;"> 9,759</td></tr><tr style="height: 17px"><td colspan="2" style="width: 480px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:480px;">Total</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 110px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:110px;"> 380,560</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 110px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:110px;"> 168,155</td></tr></table></div>Included in the table above at June 30, 2013 are $339.1 million of MBS assets that may only be used to settle liabilities of the consolidated VIE. The following table summarizes the Company's MBS portfolio as of June 30, 2013 and December 31, 2012, according to their contractual maturities. Actual maturities of MBS investments are generally shorter than stated contractual maturities and are affected by the contractual lives of the underlying mortgages, periodic payments of principal, and prepayments of principal.<div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 480px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:480px;">(in thousands)</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:110px;"> </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:110px;"> </td></tr><tr style="height: 17px"><td style="width: 480px; border-top-style:solid;border-top-width:2px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:480px;"> </td><td colspan="2" style="width: 120px; border-top-style:solid;border-top-width:2px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:120px;">June 30, 2013</td><td colspan="2" style="width: 120px; border-top-style:solid;border-top-width:2px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:120px;">December 31, 2012</td></tr><tr style="height: 17px"><td style="width: 480px; text-align:left;border-color:#000000;min-width:480px;">Greater than one year and less than five years </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 110px; text-align:right;border-color:#000000;min-width:110px;"> 89</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 110px; text-align:right;border-color:#000000;min-width:110px;"> 163</td></tr><tr style="height: 17px"><td style="width: 480px; text-align:left;border-color:#000000;min-width:480px;">Greater than five years and less than ten years </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; text-align:right;border-color:#000000;min-width:110px;"> 11,819</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; text-align:right;border-color:#000000;min-width:110px;"> 12,980</td></tr><tr style="height: 17px"><td style="width: 480px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:480px;">Greater than or equal to ten years</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:110px;"> 368,652</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 110px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:110px;"> 155,012</td></tr><tr style="height: 17px"><td style="width: 480px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:480px;">Total</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 110px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:110px;"> 380,560</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 110px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:110px;"> 168,155</td></tr></table></div>falsefalsefalsenonnum:textBlockItemTypenaNo authoritative reference available.No definition available.false0Mortgage-Backed SecuritiesfalseMortgage Backed SecuritiesUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.biminicapital.com/role/DisclosureMortgageBackedSecurities12