XML 56 R44.htm IDEA: XBRL DOCUMENT v3.19.1
Borrowings - Schedule of repurchase and loan agreements (Details)
$ in Thousands
3 Months Ended
Mar. 31, 2019
USD ($)
extension
Apr. 26, 2019
Apr. 05, 2019
Dec. 31, 2018
USD ($)
Nov. 02, 2018
Oct. 16, 2018
Mar. 16, 2018
Sep. 29, 2016
Debt Instrument [Line Items]                
Maximum Borrowing Capacity $ 2,014,679     $ 2,014,897        
Amount of Available Funding 366,700     275,849        
Book Value of Collateral 1,954,340     2,086,848        
Repurchase and loan agreements 1,631,979     1,722,219        
Repurchase agreements | CS Repurchase Agreement                
Debt Instrument [Line Items]                
Amount Outstanding, before debt issuance costs 104,145     193,654        
Maximum Borrowing Capacity 250,000     250,000        
Amount of Available Funding 145,855     56,346        
Book Value of Collateral 108,375     224,934        
Loan agreement | Nomura Loan Agreement                
Debt Instrument [Line Items]                
Amount Outstanding, before debt issuance costs 29,155     30,497        
Maximum Borrowing Capacity 250,000     250,000        
Amount of Available Funding 220,845     219,503        
Book Value of Collateral 45,467     48,388        
Loan agreement | HOME II Loan Agreement                
Debt Instrument [Line Items]                
Amount Outstanding, before debt issuance costs 83,270     83,270        
Maximum Borrowing Capacity 83,270     83,270        
Amount of Available Funding 0     0        
Book Value of Collateral 99,771     100,461        
Loan agreement | HOME III Loan Agreement                
Debt Instrument [Line Items]                
Amount Outstanding, before debt issuance costs 89,150     89,150        
Maximum Borrowing Capacity 89,150     89,150        
Amount of Available Funding 0     0        
Book Value of Collateral $ 110,851     $ 111,542        
Number of potential renewal extensions | extension 3              
Length of loan term extension option, years 1 year              
Loan agreement | HOME IV Loan Agreement (A)                
Debt Instrument [Line Items]                
Interest Rate 4.00%     4.00%        
Amount Outstanding, before debt issuance costs $ 114,201     $ 114,201        
Maximum Borrowing Capacity 114,201     114,201        
Amount of Available Funding 0     0        
Book Value of Collateral $ 144,451     $ 145,461        
Loan agreement | HOME IV Loan Agreement (B)                
Debt Instrument [Line Items]                
Interest Rate 4.00%     4.00%        
Amount Outstanding, before debt issuance costs $ 114,590     $ 114,590        
Maximum Borrowing Capacity 114,590     114,590        
Amount of Available Funding 0     0        
Book Value of Collateral $ 145,487     $ 146,479        
Loan agreement | Term Loan Agreement                
Debt Instrument [Line Items]                
Interest Rate 5.00%     5.00%        
Amount Outstanding, before debt issuance costs $ 99,782     $ 100,000        
Maximum Borrowing Capacity 99,782     100,000        
Amount of Available Funding 0     0        
Book Value of Collateral $ 113,009     $ 114,401        
Loan agreement | FYR SFR Loan Agreement                
Debt Instrument [Line Items]                
Interest Rate 4.65%     4.65%        
Amount Outstanding, before debt issuance costs $ 508,700     $ 508,700        
Maximum Borrowing Capacity 508,700     508,700        
Amount of Available Funding 0     0        
Book Value of Collateral 581,891     585,563        
Loan agreement | MS Loan Agreement                
Debt Instrument [Line Items]                
Amount Outstanding, before debt issuance costs 504,986     504,986        
Maximum Borrowing Capacity 504,986     504,986        
Amount of Available Funding 0     0        
Book Value of Collateral $ 605,038     609,619        
Repurchase and loan agreements                
Debt Instrument [Line Items]                
Interest rate on debt 4.51%              
Amount Outstanding, before debt issuance costs $ 1,647,979     1,739,048        
Less: unamortized loan discounts (4,579)     (4,896)        
Less: deferred debt issuance costs (11,421)     (11,933)        
Repurchase and loan agreements $ 1,631,979     $ 1,722,219        
LIBOR | Repurchase agreements | CS Repurchase Agreement                
Debt Instrument [Line Items]                
Interest Rate 3.00%     3.00%        
LIBOR | Loan agreement | Nomura Loan Agreement                
Debt Instrument [Line Items]                
Interest Rate 3.00%     3.00%        
LIBOR | Loan agreement | HOME II Loan Agreement                
Debt Instrument [Line Items]                
Interest Rate 2.10%     2.10%        
LIBOR | Loan agreement | HOME III Loan Agreement                
Debt Instrument [Line Items]                
Interest Rate 2.10%     2.10%        
LIBOR | Loan agreement | MS Loan Agreement                
Debt Instrument [Line Items]                
Interest Rate 1.80%     1.80%        
Interest rate caps | LIBOR                
Debt Instrument [Line Items]                
Interest rate cap, strike rate             1.80% 2.938%
Interest rate caps | LIBOR | HOME II Loan Agreement                
Debt Instrument [Line Items]                
Interest rate cap, strike rate           2.30%    
Interest rate caps | LIBOR | HOME III Loan Agreement                
Debt Instrument [Line Items]                
Interest rate cap, strike rate           2.30%    
Interest rate caps | LIBOR | HOME II And III Loan Agreement                
Debt Instrument [Line Items]                
Interest rate cap, strike rate 4.40%              
Interest rate caps | LIBOR | MS Loan Agreement                
Debt Instrument [Line Items]                
Interest rate cap, strike rate 4.30%       2.50%      
Subsequent Event | LIBOR | Repurchase agreements | CS Repurchase Agreement                
Debt Instrument [Line Items]                
Interest Rate   2.30%            
Subsequent Event | LIBOR | Loan agreement | Nomura Loan Agreement                
Debt Instrument [Line Items]                
Interest Rate     2.30%