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Investments in Debt Securities (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale Securities, Par Balance $ 2,446,491 $ 2,422,883  
Available-for-sale Securities, Net Premium (Discount) 736,128 822,084  
Available-for-sale Debt Securities, Amortized Cost Basis 3,182,619 3,244,967  
Available-for-sale Securities, Gross Unrealized Gain 17,185 19,643  
Available-for-sale Securities, Gross Unrealized Loss (26,285) (52,526)  
Available-for-sale Securities, Fair Value 3,173,519 3,212,084  
Available-for-sale Securities, Sale Proceeds 1,073,093 87,818 $ 449,921
Available-for-sale Securities, Gross Realized Gains 0    
Available-for-sale Securities, Gross Realized Gain (Loss) (11,530) (4,238) (978)
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Amortized Cost Basis 4,480 12,375  
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Amortized Cost Basis 208,046 228,443  
Available-for-sale Securities, Debt Maturities, Rolling Year Six Through Ten, Amortized Cost Basis 1,334,795 1,060,273  
Available-for-sale Securities, Debt Maturities, Rolling after Year Ten, Amortized Cost Basis 1,635,298 1,943,876  
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis 3,182,619 3,244,967  
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value 4,542 12,189  
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value 210,727 235,059  
Available-for-sale Securities, Debt Maturities, Rolling Year Six Through Ten, Fair Value 1,326,178 1,040,609  
Available-for-sale Securities, Debt Maturities, Rolling after Year Ten, Fair Value 1,632,072 1,924,227  
Available-for-sale Securities, Debt Maturities, Single Maturity Date 3,173,519 3,212,084  
Agency MBS      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale Securities, Continuous Unrealized Loss Position for less than 12 months, Fair Value 1,293,798 1,738,094  
Available-for-sale Securities, Continuous Unrealized Loss Position for less than 12 months, Accumulated Loss $ (9,769) $ (38,469)  
Available-for-sale Securities, Number of Securities in Continuous Unrealized Loss Position for less than 12 months 71 133  
Available-for-sale Securities, Continuous Unrealized Loss Position for 12 months or longer, Fair Value $ 423,698 $ 427,405  
Available-for-sale Securities, Continuous Unrealized Loss Position for 12 months or longer, Accumulated Loss $ (14,035) $ (8,952)  
Available-for-sale Securities, Number of Securities in Continuous Unrealized Loss Position for 12 months or longer 30 72  
Non-Agency MBS      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale Securities, Continuous Unrealized Loss Position for less than 12 months, Fair Value $ 51,406 $ 205,484  
Available-for-sale Securities, Continuous Unrealized Loss Position for less than 12 months, Accumulated Loss $ (421) $ (2,773)  
Available-for-sale Securities, Number of Securities in Continuous Unrealized Loss Position for less than 12 months 11 48  
Available-for-sale Securities, Continuous Unrealized Loss Position for 12 months or longer, Fair Value $ 20,414 $ 81,660  
Available-for-sale Securities, Continuous Unrealized Loss Position for 12 months or longer, Accumulated Loss $ (323) $ (2,332)  
Available-for-sale Securities, Number of Securities in Continuous Unrealized Loss Position for 12 months or longer 12 26  
U.S. Treasuries      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale Securities, Par Balance $ 148,400    
Available-for-sale Securities, Net Premium (Discount) (133)    
Available-for-sale Debt Securities, Amortized Cost Basis 148,267    
Available-for-sale Securities, Gross Unrealized Gain 0    
Available-for-sale Securities, Gross Unrealized Loss (1,737)    
Available-for-sale Securities, Fair Value $ 146,530    
Available-for-sale Securities, Weighted Average Coupon 2.13%    
Available-for-sale Securities, Sale Proceeds $ 51,797 $ 0 0
Available-for-sale Securities, Gross Realized Losses (244) 0 0
CMBS      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale Securities, Par Balance 1,150,468 1,232,053  
Available-for-sale Securities, Net Premium (Discount) 6,407 7,150  
Available-for-sale Debt Securities, Amortized Cost Basis 1,156,875 1,239,203  
Available-for-sale Securities, Gross Unrealized Gain 5,812 11,676  
Available-for-sale Securities, Gross Unrealized Loss (13,572) (28,108)  
Available-for-sale Securities, Fair Value 1,149,115 1,222,771  
CMBS | Agency MBS      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale Securities, Par Balance 1,123,967 1,152,586  
Available-for-sale Securities, Net Premium (Discount) 10,442 13,868  
Available-for-sale Debt Securities, Amortized Cost Basis 1,134,409 1,166,454  
Available-for-sale Securities, Gross Unrealized Gain 3,514 6,209  
Available-for-sale Securities, Gross Unrealized Loss (13,572) (28,108)  
Available-for-sale Securities, Fair Value $ 1,124,351 $ 1,144,555  
Available-for-sale Securities, Weighted Average Coupon [1] 3.03% 3.12%  
Available-for-sale Securities, Sale Proceeds $ 252,624 $ 0 149,360
Available-for-sale Securities, Gross Realized Losses (135) 0 (604)
CMBS | Non-Agency MBS      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale Securities, Par Balance 26,501 79,467  
Available-for-sale Securities, Net Premium (Discount) (4,035) (6,718)  
Available-for-sale Debt Securities, Amortized Cost Basis 22,466 72,749  
Available-for-sale Securities, Gross Unrealized Gain 2,298 5,467  
Available-for-sale Securities, Gross Unrealized Loss 0 0  
Available-for-sale Securities, Fair Value $ 24,764 $ 78,216  
Available-for-sale Securities, Weighted Average Coupon [1] 5.47% 4.72%  
Available-for-sale Securities, Sale Proceeds $ 35,705 $ 33,640 30,775
Available-for-sale Securities, Gross Realized Losses   (1,228) (566)
Available-for-sale Securities, Gross Realized Gains (1,199)    
CMBS IO      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale Securities, Par Balance 0 0  
Available-for-sale Securities, Net Premium (Discount) 683,833 757,892  
Available-for-sale Debt Securities, Amortized Cost Basis 683,833 757,892  
Available-for-sale Securities, Gross Unrealized Gain 9,706 5,071  
Available-for-sale Securities, Gross Unrealized Loss (1,017) (8,417)  
Available-for-sale Securities, Fair Value 692,522 754,546  
CMBS IO | Agency MBS      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale Securities, Par Balance 0 [2] 0 [3]  
Available-for-sale Securities, Net Premium (Discount) 375,361 411,737  
Available-for-sale Debt Securities, Amortized Cost Basis 375,361 411,737  
Available-for-sale Securities, Gross Unrealized Gain 5,238 3,523  
Available-for-sale Securities, Gross Unrealized Loss (293) (3,362)  
Available-for-sale Securities, Fair Value $ 380,306 $ 411,898  
Available-for-sale Securities, Weighted Average Coupon [1] 0.62% 0.67%  
Notional balance for interest only securities $ 14,196,122 $ 13,106,912  
Available-for-sale Securities, Sale Proceeds 0 0 45,096
Available-for-sale Securities, Gross Realized Gains   0 (1,698)
CMBS IO | Non-Agency MBS      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale Securities, Par Balance [2] 0    
Available-for-sale Securities, Net Premium (Discount) 308,472 346,155  
Available-for-sale Debt Securities, Amortized Cost Basis 308,472 346,155  
Available-for-sale Securities, Gross Unrealized Gain 4,468 1,548  
Available-for-sale Securities, Gross Unrealized Loss (724) (5,055)  
Available-for-sale Securities, Fair Value $ 312,216 $ 342,648  
Available-for-sale Securities, Weighted Average Coupon [1] 0.61% 0.61%  
Notional balance for interest only securities $ 11,006,463 $ 10,884,964  
Available-for-sale Securities, Sale Proceeds 0 0 50,125
Available-for-sale Securities, Gross Realized Gains 0 0 (1,359)
RMBS      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale Securities, Par Balance 1,147,623 1,190,830  
Available-for-sale Securities, Net Premium (Discount) 46,021 57,042  
Available-for-sale Debt Securities, Amortized Cost Basis 1,193,644 1,247,872  
Available-for-sale Securities, Gross Unrealized Gain 1,667 2,896  
Available-for-sale Securities, Gross Unrealized Loss (9,959) (16,001)  
Available-for-sale Securities, Fair Value 1,185,352 1,234,767  
RMBS | Agency MBS      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale Securities, Par Balance 1,146,553 [4] 1,157,258  
Available-for-sale Securities, Net Premium (Discount) 46,021 [4] 57,066  
Available-for-sale Debt Securities, Amortized Cost Basis 1,192,574 [4] 1,214,324  
Available-for-sale Securities, Gross Unrealized Gain 1,626 [4] 2,832  
Available-for-sale Securities, Gross Unrealized Loss (9,939) [4] (15,951)  
Available-for-sale Securities, Fair Value $ 1,184,261 [4] $ 1,201,205  
Available-for-sale Securities, Weighted Average Coupon [1] 3.56% [4] 3.05%  
Available-for-sale Securities, Sale Proceeds $ 716,560 $ 54,178 174,565
Available-for-sale Securities, Gross Realized Losses (12,392) (3,010) (2,865)
RMBS | Non-Agency MBS      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale Securities, Par Balance 1,070 33,572  
Available-for-sale Securities, Net Premium (Discount) 0 (24)  
Available-for-sale Debt Securities, Amortized Cost Basis 1,070 33,548  
Available-for-sale Securities, Gross Unrealized Gain 41 64  
Available-for-sale Securities, Gross Unrealized Loss (20) (50)  
Available-for-sale Securities, Fair Value $ 1,091 $ 33,562  
Available-for-sale Securities, Weighted Average Coupon [1] 6.75% 3.58%  
Available-for-sale Securities, Sale Proceeds $ 16,407 $ 0 0
Available-for-sale Securities, Gross Realized Gains $ (42) $ 0 $ 0
[1] The weighted average coupon (“WAC”) is the gross interest rate of the security weighted by the outstanding principal balance (or by notional balance in the case of an IO security).
[2] The notional balance for Agency CMBS IO and non-Agency CMBS IO was $14,196,122 and $11,006,463, respectively, as of December 31, 2017.
[3] The notional balance for the Agency CMBS IO and non-Agency CMBS IO was $13,106,912 and $10,884,964, respectively, as of December 31, 2016.
[4] Includes purchased securities pending settlement.