Net Interest Income Analysis (Tables)

9 Months Ended

Sep. 30, 2011

Net Interest Income Analysis [Abstract]

Summary Of Interest Income, Interest Expense And Weighted Average Interest Rates

	Quarter Ended September 30
	2011						2010						Related Changes in
	Amount			Average Rate			Amount			Average Rate			Rate*			Volume*		Total*
Interest income:
Mortgage securities and similar investments	$	62,890			2.17	%	$	40,614			2.22	%	$	(934	)	$	23,210	$	22,276
Other		59			0.09			111			0.26			(96	)		44		(52	)
		62,949			2.12			40,725			2.18			(1,030	)		23,254		22,224
Interest expense:
Repurchase arrangements and similar borrowings		(15,744	)		0.57			(11,096	)		0.66			(1,654	)		6,302		4,648
Unsecured borrowings		(2,186	)		8.49			(2,186	)		8.49			—			—		—
Other		—			0.08			—			—			—			—		—
		(17,930	)		0.65			(13,282	)		0.78			(1,654	)		6,302		4,648
	$	45,019			1.47		$	27,443			1.40		$	624		$	16,952	$	17,576

	Nine Months Ended September 30
	2011						2010						Related Changes in
	Amount			Average Rate			Amount			Average Rate			Rate*			Volume*			Total*
Interest income:
Mortgage securities and similar investments	$	179,167			2.29	%	$	148,398			2.63	%	$	(21,021	)	$	51,790		$	30,769
Other		230			0.13			338			0.18			(92	)		(16	)		(108	)
		179,397			2.25			148,736			2.55			(21,113	)		51,774			30,661
Interest expense:
Repurchase arrangements and similar borrowings		(41,772	)		0.57			(35,610	)		0.68			(6,356	)		12,518			6,162
Unsecured borrowings		(6,560	)		8.49			(6,560	)		8.49			—			—			—
Other		(5	)		0.14			—			—			—			5			5
		(48,337	)		0.65			(42,170	)		0.79			(6,356	)		12,523			6,167
	$	131,060			1.60		$	106,566			1.76		$	(14,757	)	$	39,251		$	24,494

* The change in interest income and interest expense due to both volume and rate has been allocated to volume and rate changes in proportion to the relationship of the absolute dollar amounts of the change in each.