Fair Value of Financial Instruments (Details 4) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Financial Assets:
Loans held-for-investment and loans transferred as secured borrowings	$ 3,790,262	$ 2,914,434
Loans held-for-sale	345,139
Non-performing residential loans	197,716	68,883
Financial Liabilities:
Convertible senior notes	995,072
Carrying Value
Financial Assets:
Loans held-for-investment and loans transferred as secured borrowings	3,875,852	3,000,335
Loans held-for-sale	66,018
Securities, held to maturity	37,370
European servicing rights	29,709
Non-performing residential loans	197,716	68,883
Financial Liabilities:
Secured financing agreements, loan transfer secured borrowings, and loan participation liability	1,493,726	1,393,705
Convertible senior notes	995,072
Fair Value
Financial Assets:
Loans held-for-investment and loans transferred as secured borrowings	3,974,875	3,097,089
Loans held-for-sale	66,813
Securities, held to maturity	37,600
European servicing rights	31,448
Non-performing residential loans	203,700	68,883
Financial Liabilities:
Secured financing agreements, loan transfer secured borrowings, and loan participation liability	1,493,257	1,397,128
Convertible senior notes	$ 1,102,300

For an unclassified balance sheet, this item represents investments in debt securities which are categorized as held-to-maturity. The held-to-maturity category is for those securities that the entity has the positive intent and ability to hold until maturity.

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+ Details

- Definition

The aggregate carrying amount of loans receivable that will be sold to other entities. Includes mortgage and all other loans (collectively, loans) not classified as held for investment. Such loans are stated at the lower of cost or market, or elected fair value. Mortgage loans exclude mortgage-backed securities which are considered a debt security (other loan).

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+ Details