AGENCY MORTGAGE-BACKED SECURITIES (Tables)

6 Months Ended

Jun. 30, 2011

Schedule of Available-for-sale Securities Reconciliation [Table Text Block]

The following tables present the Company’s available-for-sale Agency Mortgage-Backed Securities portfolio as of June 30, 2011 and December 31, 2010 which were carried at their fair value:

June 30, 2011	Freddie Mac			Fannie Mae			Ginnie Mae			Total Agency Mortgage-Backed Securities
	(dollars in thousands)
Mortgage-Backed
Securities, gross	$	25,057,495		$	65,731,429		$	943,757		$	91,732,681
Unamortized discount		(12,488	)		(16,848	)		(401	)		(29,737	)
Unamortized premium		660,423			2,323,888			33,454			3,017,765
Amortized cost		25,705,430			68,038,469			976,810			94,720,709
Gross unrealized gains		693,858			1,629,067			37,683			2,360,608
Gross unrealized losses		(38,608	)		(267,619	)		(1,642	)		(307,869	)
Estimated fair value	$	26,360,680		$	69,399,917		$	1,012,851		$	96,773,448
	Amortized Cost			Gross Unrealized Gain			Gross Unrealized Loss			Estimated Fair Value
	(dollars in thousands)
Adjustable rate	$	9,712,428		$	345,634		$	(9,086	)	$	10,048,976
Fixed rate		85,008,281			2,014,974			(298,783	)		86,724,472
Total	$	94,720,709		$	2,360,608		$	(307,869	)	$	96,773,448

December 31, 2010	Freddie Mac			Fannie Mae			Ginnie Mae			Total Agency Mortgage-Backed Securities
	(dollars in thousands)
Mortgage-Backed
Securities, gross	$	19,846,543		$	54,341,140		$	824,029		$	75,011,712
Unamortized discount		(14,651	)		(18,329	)		(403	)		(33,383	)
Unamortized premium		517,507			1,795,116			26,200			2,338,823
Amortized cost		20,349,399			56,117,927			849,826			77,317,152
Gross unrealized gains		463,471			1,211,324			29,408			1,704,203
Gross unrealized losses		(140,027	)		(438,918	)		(2,080	)		(581,025	)
Estimated fair value	$	20,672,843		$	56,890,333		$	877,154		$	78,440,330
	Amortized Cost			Gross Unrealized Gain			Gross Unrealized Loss			Estimated Fair Value
	(dollars in thousands)
Adjustable rate	$	10,954,627		$	257,822		$	(75,440	)	$	11,137,009
Fixed rate		66,362,525			1,446,381			(505,585	)		67,303,321
Total	$	77,317,152		$	1,704,203		$	(581,025	)	$	78,440,330

Schedule of Mortgage Backed Securities by Estimated Weighted Average Life Classification [Text Block]

The following table summarizes the Company’s Agency Mortgage-Backed Securities on June 30, 2011 and December 31, 2010 according to their estimated weighted-average life classifications:

	June 30, 2011				December 31, 2010
	Fair Value		Amortized Cost		Fair Value		Amortized Cost
Weighted-Average Life	(dollars in thousands)
Less than one year	$	780,883	$	771,339	$	915,398	$	901,824
Greater than one year and less than five years		71,716,641		69,613,658		59,732,123		58,321,570
Greater than or equal to five years		24,275,924		24,335,712		17,792,809		18,093,758
Total	$	96,773,448	$	94,720,709	$	78,440,330	$	77,317,152

Schedule of Unrealized Loss on Investments [Table Text Block]

The following table presents the gross unrealized losses, and estimated fair value of the Company’s Agency Mortgage-Backed Securities by length of time that such securities have been in a continuous unrealized loss position at June 30, 2011 and December 31, 2010.

	Unrealized Loss Position For: (dollars in thousands)
	Less than 12 Months					12 Months or More					Total
	Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses
June 30, 2011	$	20,911,053	$	(302,761	)	$	172,421	$	(5,108	)	$	21,083,474	$	(307,869	)
December 31, 2010	$	28,608,996	$	(577,096	)	$	166,481	$	(3,929	)	$	28,775,477	$	(581,025	)