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Investments in Debt Securities Investments in Debt Securities (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Dec. 31, 2018
Investment [Line Items]      
Par value of available for sale debt security $ 4,194,824   $ 3,194,441
Investments, Unamortized Premium (Discount) 596,936   590,968
Debt Securities, Available-for-sale, Amortized Cost 4,791,760   3,785,409
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 72,514   21,436
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 21,827   57,381
Debt Securities, Available-for-sale 4,842,447   3,749,464
Proceeds from Sale of Available-for-sale Securities 0 $ 155,256  
Debt Securities, Available-for-sale, Realized Gain (Loss) 0 (3,775)  
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Amortized Cost 119,121   39,868
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value 121,882   39,808
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Amortized Cost 151,888   151,041
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value 154,615   152,917
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Amortized Cost 911,278   828,543
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value 910,315   806,015
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Amortized Cost 3,609,473   2,765,957
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value 3,655,635   2,750,724
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost 4,791,760   3,785,409
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value 4,842,447   3,749,464
Agency MBS      
Investment [Line Items]      
Notional balance for interest only securities 13,146,249   13,048,666
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value 46,127   581,440
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss $ 174   $ 1,793
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year 9   28
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value $ 1,293,417   $ 1,543,892
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss $ 21,248   $ 54,260
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year 61   88
Non-Agency MBS      
Investment [Line Items]      
Notional balance for interest only securities $ 10,158,055   $ 10,275,494
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value 25,130   70,876
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss $ 177   $ 581
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year 7   22
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value $ 21,512   $ 46,154
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss $ 228   $ 747
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year 13   19
Residential Mortgage Backed Securities      
Investment [Line Items]      
Par value of available for sale debt security $ 2,684,079   $ 2,119,495
Investments, Unamortized Premium (Discount) 77,584   56,744
Debt Securities, Available-for-sale, Amortized Cost 2,761,663   2,176,239
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 31,840   8,926
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 11,424   26,286
Debt Securities, Available-for-sale 2,782,079   2,158,879
Commercial Mortgage Backed Securities      
Investment [Line Items]      
Par value of available for sale debt security 1,510,745   1,074,946
Investments, Unamortized Premium (Discount) 8,848   6,481
Debt Securities, Available-for-sale, Amortized Cost 1,519,593   1,081,427
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 31,443   6,554
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 9,864   29,550
Debt Securities, Available-for-sale 1,541,172   1,058,431
Interest-Only-Strip      
Investment [Line Items]      
Investments, Unamortized Premium (Discount) 510,504   527,743
Debt Securities, Available-for-sale, Amortized Cost 510,504   527,743
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 9,231   5,956
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 539   1,545
Debt Securities, Available-for-sale 519,196   532,154
U.S. Treasuries      
Investment [Line Items]      
Proceeds from Sale of Available-for-sale Securities 0 46,498  
Debt Securities, Available-for-sale, Realized Loss 0 (1,723)  
Agency | Residential Mortgage Backed Securities      
Investment [Line Items]      
Par value of available for sale debt security 2,683,276   2,118,639
Investments, Unamortized Premium (Discount) 77,584   56,744
Debt Securities, Available-for-sale, Amortized Cost 2,760,860   2,175,383
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 31,813   8,902
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 11,403   26,264
Debt Securities, Available-for-sale $ 2,781,270   $ 2,158,021
Investments, Weighted Average Coupon Rate [1] 4.04%   3.95%
Agency | Commercial Mortgage Backed Securities      
Investment [Line Items]      
Par value of available for sale debt security $ 1,507,835   $ 1,071,906
Investments, Unamortized Premium (Discount) 10,775   8,518
Debt Securities, Available-for-sale, Amortized Cost 1,518,610   1,080,424
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 30,766   6,141
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 9,864   29,550
Debt Securities, Available-for-sale $ 1,539,512   $ 1,057,015
Investments, Weighted Average Coupon Rate [1] 3.23%   3.22%
Proceeds from Sale of Available-for-sale Securities $ 0 108,758  
Debt Securities, Available-for-sale, Realized Loss 0 $ (2,052)  
Agency | Interest-Only-Strip      
Investment [Line Items]      
Investments, Unamortized Premium (Discount) 282,636   $ 287,062
Debt Securities, Available-for-sale, Amortized Cost 282,636   287,062
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 5,982   4,281
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 154   239
Debt Securities, Available-for-sale $ 288,464   $ 291,104
Investments, Weighted Average Coupon Rate [1] 0.53%   0.55%
Non-Agency | Residential Mortgage Backed Securities      
Investment [Line Items]      
Par value of available for sale debt security $ 803   $ 856
Investments, Unamortized Premium (Discount) 0   0
Debt Securities, Available-for-sale, Amortized Cost 803   856
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 27   24
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 21   22
Debt Securities, Available-for-sale $ 809   $ 858
Investments, Weighted Average Coupon Rate [1] 6.75%   6.75%
Non-Agency | Commercial Mortgage Backed Securities      
Investment [Line Items]      
Par value of available for sale debt security $ 2,910   $ 3,040
Investments, Unamortized Premium (Discount) (1,927)   (2,037)
Debt Securities, Available-for-sale, Amortized Cost 983   1,003
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 677   413
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 0   0
Debt Securities, Available-for-sale $ 1,660   $ 1,416
Investments, Weighted Average Coupon Rate [1] 6.27%   6.47%
Non-Agency | Interest-Only-Strip      
Investment [Line Items]      
Investments, Unamortized Premium (Discount) $ 227,868   $ 240,681
Debt Securities, Available-for-sale, Amortized Cost 227,868   240,681
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 3,249   1,675
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 385   1,306
Debt Securities, Available-for-sale $ 230,732   $ 241,050
Investments, Weighted Average Coupon Rate [1] 0.56%   0.57%
[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).