Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Cash Flows from Operating Activities:
Net income	$ 218,363	$ 145,249
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Amortization of deferred financing costs	7,044	3,896
Amortization of net convertible debt discount and deferred fees	5,693
Accretion of net discount on investment securities	(23,484)	(25,064)
Accretion of net deferred loan fees and discounts	(26,917)	(35,026)
Amortization of premium from loan transfer secured borrowings	(1,211)	(669)
Stock-based compensation	12,870	12,296
Stock-based component of incentive fees	367	2,522
Change in fair value of fair value option investment securities	3,265
Change in fair value of consolidated VIEs	(22,428)
Change in fair value of servicing rights	(1,031)
Change in fair value of loans held-for-sale	(26,315)	5,760
Change in fair value of derivatives	(2,196)	3,328
Foreign currency gain, net	(3,481)	(11,516)
Gain on sale of investments	(23,728)	(19,274)
Impairment of real estate	536
Other-than-temporary impairment of investment securities	453	2,728
Loan loss allowance	1,915
Depreciation and amortization	8,022
Earnings from unconsolidated entities	(7,427)
Distributions of earnings from unconsolidated entities	2,315
Capitalized costs written off	1,517
Changes in operating assets and liabilities:
Related party payable, net	25,475	4,197
Accrued interest receivable, less purchased interest	(8,603)	(5,280)
Other assets	(6,874)	5,819
Accounts payable, accrued expenses and other liabilities	36,087	10,473
Originations of loans held-for-sale, net of principal collections	(847,844)
Net proceeds from sale of loans held-for-sale	402,475	132,012
Net cash (used in) provided by operating activities	(275,142)	231,451
Cash Flows from Investing Activities:
Purchase of LNR, net of cash acquired	(586,383)
Purchase of investment securities	(82,754)	(575,690)
Proceeds from sales of investment securities	442,877	199,510
Proceeds from principal collections on investment securities	56,793	67,452
Origination and purchase of loans held-for-investment	(1,658,240)	(943,330)
Proceeds from principal collections on loans	394,616	494,307
Proceeds from loans sold	369,621	28,740
Acquisition and improvement of single family homes	(458,733)
Proceeds from sale of single family homes	6,696
Purchase of other assets	(1,631)	(30,496)
Purchase of non-performing loans	(153,141)
Proceeds from sale of non-performing loans	27,198
Investment in unconsolidated entities	(8,558)
Proceeds from sale of interest in unconsolidated entities		874
Distribution of capital from unconsolidated entities	3,210	892
Payments for purchase or termination of derivatives	(648)
Proceeds from termination of derivatives	9,940
Return of investment basis in purchased derivative asset	1,533	2,780
Increase in restricted cash	(54,860)
Net cash used in investing activities	(1,692,464)	(754,961)
Cash Flows from Financing Activities:
Borrowings under financing agreements	2,691,382	1,370,306
Proceeds from issuance of convertible senior notes	1,037,926
Principal repayments on borrowings	(2,674,437)	(1,164,373)
Payment of deferred financing costs	(13,281)	(8,029)
Proceeds from loan participation liability	95,000	35,738
Proceeds from common stock offering	1,513,519	457,321
Payment of equity offering costs	(955)	(2,250)
Payment of dividends	(210,843)	(134,473)
Contributions from non-controlling interests	1,399
Distributions to non-controlling interests	(47,914)	(558)
Issuance of debt of consolidated VIEs	8,760
Repayment of debt of consolidated VIEs	(93,293)
Distributions of cash from consolidated VIEs	18,598
Net cash provided by financing activities	2,325,861	553,682
Net increase in cash and cash equivalents	358,255	30,172
Cash and cash equivalents, beginning of period	177,671	114,027
Effect of exchange rate changes on cash	908
Cash and cash equivalents, end of period	536,834	144,199
Supplemental disclosure of cash flow information:
Cash paid for interest	54,548	34,640
Income taxes paid	24,794	990
Supplemental disclosure of non-cash investing and financing activities:
Fair value of assets acquired	1,041,927
Fair value of liabilities assumed	562,279
Dividends declared, but not yet paid	90,130	51,629
Unsettled trade receivable	14,338
Consolidation of VIEs (VIE asset/liability additions)	15,033,274
Deconsolidation of VIEs (VIE asset/liability reductions)	584,804
Repurchase agreements settled net with proceeds from sale of loans held-for-sale	449,134
Interest only security received in connection with securitization	$ 1,889