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Derivatives
 12 Months Ended
Dec. 31, 2013
Derivatives  
Derivatives

NOTE 9. Derivatives

        The Company utilized derivatives for various economic hedging strategies to actively manage its market and liquidity exposures, principally in connection with the sales and trading activities of the Company's MBS & Rates division (now discontinued). In addition, ClearPoint entered into mortgage loan IRLCs in connection with its mortgage lending activities, which have been wound down in connection with the Homeward Transaction. The following table summarizes the Company's derivative instruments at December 31, 2013 and December 31, 2012:

 
   December 31, 2013   December 31, 2012  
(In thousands of dollars)
  Number of
Contracts		   Notional   Fair Value   Number of
Contracts		   Notional   Fair Value  

Purchase Contracts

                                      

TBA purchase agreements

     —   $ —   $ —     19   $ 202,646   $ 54  

IRLCs

     —     —     —     512     100,079     964  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total

     —   $ —   $ —     531   $ 302,725   $ 1,018  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

Sale Contracts

                                      

TBA sale agreements

     —   $ —   $ —     27   $ 708,076   $ (1,511 )

Eurodollar futures contracts

     —     —     —     268     268,000     (15 )
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total

     —   $ —   $ —     295   $ 976,076   $ (1,526 )
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​