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Investments in Debt Securities (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale Securities, Par Balance $ 2,226,839   $ 2,226,839   $ 2,446,491
Available-for-sale Securities, Net Premium (Discount) 655,204   655,204   736,128
Available-for-sale Debt Securities, Amortized Cost Basis 2,882,043   2,882,043   3,182,619
Available-for-sale Securities, Gross Unrealized Gain 10,091   10,091   17,185
Available-for-sale Securities, Gross Unrealized Loss (74,317)   (74,317)   (26,285)
Available-for-sale Securities, Fair Value 2,817,817   2,817,817   3,173,519
Available-for-sale Securities, Sale Proceeds 370,993 $ 342,310 526,250 $ 399,474  
Available-for-sale Securities, Gross Realized Gain (Loss) (12,444) (3,709) (16,219) (5,417)  
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Amortized Cost Basis 37,630   37,630   4,480
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Amortized Cost Basis 180,549   180,549   208,046
Available-for-sale Securities, Debt Maturities, Rolling Year Six Through Ten, Amortized Cost Basis 1,074,637   1,074,637   1,334,795
Available-for-sale Securities, Debt Maturities, Rolling after Year Ten, Amortized Cost Basis 1,589,227   1,589,227   1,635,298
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis 2,882,043   2,882,043   3,182,619
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value 37,723   37,723   4,542
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value 182,064   182,064   210,727
Available-for-sale Securities, Debt Maturities, Rolling Year Six Through Ten, Fair Value 1,037,864   1,037,864   1,326,178
Available-for-sale Securities, Debt Maturities, Rolling after Year Ten, Fair Value 1,560,166   1,560,166   1,632,072
Available-for-sale Securities, Debt Maturities, Single Maturity Date 2,817,817   2,817,817   3,173,519
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 1,907,732   1,907,732   1,293,798
Available-for-sale Securities, Continuous Unrealized Loss Position for less than 12 months, Accumulated Loss $ (54,067)   $ (54,067)   $ (9,769)
Available-for-sale Securities, Number of Securities in Continuous Unrealized Loss Position for less than 12 months 113   113   71
Available-for-sale Securities, Continuous Unrealized Loss Position for 12 months or longer, Fair Value $ 257,394   $ 257,394   $ 423,698
Available-for-sale Securities, Continuous Unrealized Loss Position for 12 months or longer, Accumulated Loss $ (19,567)   $ (19,567)   $ (14,035)
Available-for-sale Securities, Number of Securities in Continuous Unrealized Loss Position for 12 months or longer 16   16   30
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 $ 59,125   $ 59,125   $ 51,406
Available-for-sale Securities, Continuous Unrealized Loss Position for less than 12 months, Accumulated Loss $ (377)   $ (377)   $ (421)
Available-for-sale Securities, Number of Securities in Continuous Unrealized Loss Position for less than 12 months 17   17   11
Available-for-sale Securities, Continuous Unrealized Loss Position for 12 months or longer, Fair Value $ 13,105   $ 13,105   $ 20,414
Available-for-sale Securities, Continuous Unrealized Loss Position for 12 months or longer, Accumulated Loss $ (256)   $ (256)   $ (323)
Available-for-sale Securities, Number of Securities in Continuous Unrealized Loss Position for 12 months or longer 10   10   12
U.S. Treasuries          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale Securities, Par Balance $ 59,000   $ 59,000   $ 148,400
Available-for-sale Securities, Net Premium (Discount) (1,027)   (1,027)   (133)
Available-for-sale Debt Securities, Amortized Cost Basis 57,973   57,973   148,267
Available-for-sale Securities, Gross Unrealized Gain 0   0   0
Available-for-sale Securities, Gross Unrealized Loss (50)   (50)   (1,737)
Available-for-sale Securities, Fair Value $ 57,923   $ 57,923   $ 146,530
Available-for-sale Securities, Weighted Average Coupon 2.50%   2.50%   2.13%
Available-for-sale Securities, Sale Proceeds $ 144,461 0 $ 190,960 0  
Available-for-sale Securities, Gross Realized Gains   0   0  
Available-for-sale Securities, Gross Realized Losses (4,710)   (6,433)    
Available-for-sale Securities, Continuous Unrealized Loss Position for less than 12 months, Fair Value 57,923   57,923   $ 146,530
Available-for-sale Securities, Continuous Unrealized Loss Position for less than 12 months, Accumulated Loss $ (50)   $ (50)   $ (1,737)
Available-for-sale Securities, Number of Securities in Continuous Unrealized Loss Position for less than 12 months 1   1   1
CMBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale Securities, Par Balance $ 1,005,824   $ 1,005,824   $ 1,150,468
Available-for-sale Securities, Net Premium (Discount) 7,001   7,001   6,407
Available-for-sale Debt Securities, Amortized Cost Basis 1,012,825   1,012,825   1,156,875
Available-for-sale Securities, Gross Unrealized Gain 2,238   2,238   5,812
Available-for-sale Securities, Gross Unrealized Loss (43,926)   (43,926)   (13,572)
Available-for-sale Securities, Fair Value 971,137   971,137   1,149,115
CMBS | Agency MBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale Securities, Par Balance 998,502   998,502   1,123,967
Available-for-sale Securities, Net Premium (Discount) 10,385   10,385   10,442
Available-for-sale Debt Securities, Amortized Cost Basis 1,008,887   1,008,887   1,134,409
Available-for-sale Securities, Gross Unrealized Gain 563   563   3,514
Available-for-sale Securities, Gross Unrealized Loss (43,926)   (43,926)   (13,572)
Available-for-sale Securities, Fair Value $ 965,524   $ 965,524   $ 1,124,351
Available-for-sale Securities, Weighted Average Coupon [1] 3.05%   3.05%   3.03%
Available-for-sale Securities, Sale Proceeds $ 0 24,305 $ 108,758 24,305  
Available-for-sale Securities, Gross Realized Gains 0 574   574  
Available-for-sale Securities, Gross Realized Losses     (2,052)    
CMBS | Non-Agency MBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale Securities, Par Balance 7,322   7,322   $ 26,501
Available-for-sale Securities, Net Premium (Discount) (3,384)   (3,384)   (4,035)
Available-for-sale Debt Securities, Amortized Cost Basis 3,938   3,938   22,466
Available-for-sale Securities, Gross Unrealized Gain 1,675   1,675   2,298
Available-for-sale Securities, Gross Unrealized Loss 0   0   0
Available-for-sale Securities, Fair Value $ 5,613   $ 5,613   $ 24,764
Available-for-sale Securities, Weighted Average Coupon [1] 10.83%   10.83%   5.47%
Available-for-sale Securities, Sale Proceeds $ 0 16,407 $ 0 16,407  
Available-for-sale Securities, Gross Realized Gains 0 42 0 42  
CMBS IO          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale Securities, Par Balance 0   0   $ 0
Available-for-sale Securities, Net Premium (Discount) 607,452   607,452   683,833
Available-for-sale Debt Securities, Amortized Cost Basis 607,452   607,452   683,833
Available-for-sale Securities, Gross Unrealized Gain 6,939   6,939   9,706
Available-for-sale Securities, Gross Unrealized Loss (1,207)   (1,207)   (1,017)
Available-for-sale Securities, Fair Value 613,184   613,184   692,522
CMBS IO | Agency MBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale Securities, Par Balance 0 [2]   0 [2]   0 [3]
Available-for-sale Securities, Net Premium (Discount) 338,476   338,476   375,361
Available-for-sale Debt Securities, Amortized Cost Basis 338,476   338,476   375,361
Available-for-sale Securities, Gross Unrealized Gain 3,611   3,611   5,238
Available-for-sale Securities, Gross Unrealized Loss (594)   (594)   (293)
Available-for-sale Securities, Fair Value $ 341,493   $ 341,493   $ 380,306
Available-for-sale Securities, Weighted Average Coupon [1] 0.61%   0.61%   0.62%
Notional balance for interest only securities $ 14,084,428   $ 14,084,428   $ 14,196,122
CMBS IO | Non-Agency MBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale Securities, Par Balance [2] 0   0    
Available-for-sale Securities, Net Premium (Discount) 268,976   268,976   308,472
Available-for-sale Debt Securities, Amortized Cost Basis 268,976   268,976   308,472
Available-for-sale Securities, Gross Unrealized Gain 3,328   3,328   4,468
Available-for-sale Securities, Gross Unrealized Loss (613)   (613)   (724)
Available-for-sale Securities, Fair Value $ 271,691   $ 271,691   $ 312,216
Available-for-sale Securities, Weighted Average Coupon [1] 0.60%   0.60%   0.61%
Notional balance for interest only securities $ 10,517,357   $ 10,517,357   $ 11,006,463
Available-for-sale Securities, Sale Proceeds 8,695 0 8,695 0  
Available-for-sale Securities, Gross Realized Gains 51 0 51 0  
RMBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale Securities, Par Balance 1,162,015   1,162,015   1,147,623
Available-for-sale Securities, Net Premium (Discount) 41,778   41,778   46,021
Available-for-sale Debt Securities, Amortized Cost Basis 1,203,793   1,203,793   1,193,644
Available-for-sale Securities, Gross Unrealized Gain 914   914   1,667
Available-for-sale Securities, Gross Unrealized Loss (29,134)   (29,134)   (9,959)
Available-for-sale Securities, Fair Value 1,175,573   1,175,573   1,185,352
RMBS | Agency MBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale Securities, Par Balance 1,161,063   1,161,063   1,146,553 [4]
Available-for-sale Securities, Net Premium (Discount) 41,778   41,778   46,021 [4]
Available-for-sale Debt Securities, Amortized Cost Basis 1,202,841   1,202,841   1,192,574 [4]
Available-for-sale Securities, Gross Unrealized Gain 886   886   1,626 [4]
Available-for-sale Securities, Gross Unrealized Loss (29,114)   (29,114)   (9,939) [4]
Available-for-sale Securities, Fair Value $ 1,174,613   $ 1,174,613   $ 1,184,261 [4]
Available-for-sale Securities, Weighted Average Coupon [1] 3.79%   3.79%   3.56% [4]
Available-for-sale Securities, Sale Proceeds $ 217,837 265,893 $ 217,837 323,057  
Available-for-sale Securities, Gross Realized Losses (7,785) (5,524) (7,785) (7,232)  
RMBS | Non-Agency MBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale Securities, Par Balance 952   952   $ 1,070
Available-for-sale Securities, Net Premium (Discount) 0   0   0
Available-for-sale Debt Securities, Amortized Cost Basis 952   952   1,070
Available-for-sale Securities, Gross Unrealized Gain 28   28   41
Available-for-sale Securities, Gross Unrealized Loss (20)   (20)   (20)
Available-for-sale Securities, Fair Value $ 960   $ 960   $ 1,091
Available-for-sale Securities, Weighted Average Coupon [1] 6.75%   6.75%   6.75%
Available-for-sale Securities, Sale Proceeds $ 0 35,705 $ 0 35,705  
Available-for-sale Securities, Gross Realized Gains $ 0 $ 1,199 $ 0 $ 1,199  
[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 $14,084,428 and $10,517,357 respectively, as of June 30, 2018.
[3] The notional balance for the Agency CMBS IO and non-Agency CMBS IO was $14,196,122 and $11,006,463, respectively, as of December 31, 2017.
[4] Includes purchased securities pending settlement.