Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2013

Accounting Policies [Abstract]

Schedule of Interest Income and Interest Expense

Interest income and interest expense which have been netted within Interest, net on the Consolidated Statements of Operations are as follows (in thousands):

	For the three months   ended June 30,						For the six months   ended June 30,
	2013			2012			2013			2012
Interest Income	$	58,416		$	31,337		$	111,777		$	60,675
Interest Expense	(52,603		)	(27,110		)	(99,575		)	(50,838		)
Interest, net	$	5,813		$	4,227		$	12,202		$	9,837

Net Trading Revenue Including Dividend Income and Expense

Net trading revenue includes dividend income and expense as follows (in thousands):

	For the three months   ended June 30,						For the six months   ended June 30,
	2013			2012			2013			2012
Dividend Income	$	6,713		$	7,311		$	12,957		$	14,271
Dividend Expense	(5,226		)	(7,143		)	(9,467		)	(12,710		)

Company's Nonconsolidated VIEs

The following table presents the Company’s nonconsolidated VIEs at June 30, 2013 and December 31, 2012 (in thousands):

	June 30, 2013
	Securitized HECM loan inventory		MBS held within Discontinued Operations
Carrying value of the variable interests
Assets	$	—	$	—
Liabilities	1,215		—
Maximum exposure to loss in nonconsolidated VIEs
Commitments	39,053		—
Purchased interests	—		—

	December 31, 2012
	Securitized HECM loan inventory		MBS held within Assets of business held for sale
Carrying value of the variable interests
Assets	$	—	$	108,999
Liabilities	912		—
Maximum exposure to loss in nonconsolidated VIEs
Commitments	29,017		—
Purchased interests	—		108,999