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Fair Value of Financial Instruments (Carrying Value vs Fair Value) (Details) - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Financial Assets:    
Available-for-sale securities $ 4,589,554 $ 6,509,333
Residential whole loans, at carrying value [1] 4,969,414 3,016,715
Residential whole loans, at fair value [1] 1,453,169 1,665,978
MSR related assets 1,164,284 611,807
Restricted cash 38,998 36,744
Financial Liabilities (2):    
Repurchase agreements 8,571,422 7,879,087
Securitized debt 605,712 684,420
Convertible Senior Notes 223,684 0
Senior Notes 96,850 96,816
Carrying Value    
Financial Assets:    
MSR related assets 1,164,284 611,807
Cash and cash equivalents 154,193 51,965
Restricted cash 38,998 36,744
Financial Liabilities (2):    
Repurchase agreements 8,571,422 7,879,087
Securitized debt 605,712 684,420
Convertible Senior Notes 223,684 0
Senior Notes 96,850 96,816
Estimated Fair Value    
Financial Assets:    
MSR related assets 1,164,284 611,807
Cash and cash equivalents 154,193 51,965
Restricted cash 38,998 36,744
Financial Liabilities (2):    
Repurchase agreements 8,590,674 7,896,672
Securitized debt 609,899 680,209
Convertible Senior Notes 238,050 0
Senior Notes 104,311 99,951
Agency MBS    
Financial Assets:    
Available-for-sale securities 1,813,873 2,698,213
Financial Liabilities (2):    
Repurchase agreements 1,675,861 2,384,357
Agency MBS | Carrying Value    
Financial Assets:    
Available-for-sale securities 1,813,873 2,698,213
Agency MBS | Estimated Fair Value    
Financial Assets:    
Available-for-sale securities 1,813,873 2,698,213
Non-Agency MBS    
Financial Assets:    
Available-for-sale securities 2,397,789 3,318,299
Financial Liabilities (2):    
Repurchase agreements 1,231,908 1,447,585
Non-Agency MBS | Carrying Value    
Financial Assets:    
Available-for-sale securities 2,397,789 3,318,299
Non-Agency MBS | Estimated Fair Value    
Financial Assets:    
Available-for-sale securities 2,397,789 3,318,299
CRT securities    
Financial Assets:    
Available-for-sale securities 377,892 492,821
Financial Liabilities (2):    
Repurchase agreements 303,544 391,586
CRT securities | Carrying Value    
Financial Assets:    
Available-for-sale securities 377,892 492,821
CRT securities | Estimated Fair Value    
Financial Assets:    
Available-for-sale securities 377,892 492,821
Residential whole loans, at fair value    
Financial Assets:    
Residential whole loans, at fair value 1,453,169 1,665,978
Financial Liabilities (2):    
Repurchase agreements 3,727,526 2,020,508
Residential whole loans, at fair value | Carrying Value    
Financial Assets:    
Residential whole loans, at carrying value 4,969,414 3,016,715
Residential whole loans, at fair value 1,453,169 1,665,978
Residential whole loans, at fair value | Estimated Fair Value    
Financial Assets:    
Residential whole loans, at carrying value 5,115,221 3,104,401
Residential whole loans, at fair value $ 1,453,169 $ 1,665,978
[1]
Includes approximately $189.9 million and $209.4 million of Residential whole loans, at carrying value and $593.3 million and $694.7 million of Residential whole loans, at fair value transferred to consolidated variable interest entities (“VIEs”) at September 30, 2019 and December 31, 2018, respectively. Such assets can be used only to settle the obligations of each respective VIE.