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MBS (Details 2) (USD $)
3 Months Ended 3 Months Ended
Mar. 31, 2012
Security
Mar. 31, 2011
Mar. 31, 2012
Discount Designated as Credit Reserve and OTTI
Mar. 31, 2011
Discount Designated as Credit Reserve and OTTI
Mar. 31, 2012
Accretable Discount
Mar. 31, 2011
Accretable Discount
Mar. 31, 2012
Low end of range
D
Mar. 31, 2012
Agency MBS
Security
Mar. 31, 2011
Agency MBS
Mar. 31, 2012
Agency MBS
Fannie Mae.
Security
Dec. 31, 2011
Agency MBS
Fannie Mae.
Mar. 31, 2012
Agency MBS
Freddie Mac.
Security
Dec. 31, 2011
Agency MBS
Freddie Mac.
Mar. 31, 2012
Non-Agency MBS
Security
Mar. 31, 2011
Non-Agency MBS
Mar. 31, 2012
Non-Agency MBS
Weighted average
Mar. 31, 2012
Non-Agency MBS
Low end of range
Mar. 31, 2012
Non-Agency MBS
High end of range
Mar. 31, 2012
Non-Agency MBS
Rated AAA
Security
Dec. 31, 2011
Non-Agency MBS
Rated AAA
Mar. 31, 2012
Non-Agency MBS
Rated AA
Security
Dec. 31, 2011
Non-Agency MBS
Rated AA
Mar. 31, 2012
Non-Agency MBS
Rated A
Security
Dec. 31, 2011
Non-Agency MBS
Rated A
Mar. 31, 2012
Non-Agency MBS
Rated BBB
Security
Dec. 31, 2011
Non-Agency MBS
Rated BBB
Mar. 31, 2012
Non-Agency MBS
Rated BB
Security
Dec. 31, 2011
Non-Agency MBS
Rated BB
Mar. 31, 2012
Non-Agency MBS
Rated B
Security
Dec. 31, 2011
Non-Agency MBS
Rated B
Mar. 31, 2012
Non-Agency MBS
Rated CCC
Security
Dec. 31, 2011
Non-Agency MBS
Rated CCC
Mar. 31, 2012
Non-Agency MBS
Rated CC
Security
Dec. 31, 2011
Non-Agency MBS
Rated CC
Mar. 31, 2012
Non-Agency MBS
Rated C
Security
Dec. 31, 2011
Non-Agency MBS
Rated C
Mar. 31, 2012
Non-Agency MBS
Unrated and other
Security
Dec. 31, 2011
Non-Agency MBS
Unrated and other
Fair Value                                                                            
Less than 12 months $ 1,805,529,000             $ 455,666,000   $ 435,903,000   $ 19,763,000   $ 1,349,863,000         $ 11,207,000           $ 21,592,000   $ 58,148,000   $ 106,974,000   $ 272,813,000   $ 175,181,000   $ 339,136,000   $ 364,812,000  
12 months or more 1,099,770,000             52,784,000   49,880,000   2,904,000   1,046,986,000             34,000   23,239,000   18,468,000   14,233,000   82,603,000   77,767,000   180,793,000   445,331,000   204,518,000  
Total 2,905,299,000             508,450,000   485,783,000   22,667,000   2,396,849,000         11,207,000   34,000   23,239,000   40,060,000   72,381,000   189,577,000   350,580,000   355,974,000   784,467,000   569,330,000  
Unrealized Losses                                                                            
Less than 12 months 51,477,000             978,000   927,000   51,000   50,499,000         111,000           1,037,000   2,438,000   4,818,000   9,000,000   7,658,000   8,738,000   16,699,000  
12 months or more 64,908,000             544,000   534,000   10,000   64,364,000             14,000   3,273,000   1,417,000   970,000   6,071,000   8,270,000   9,937,000   21,288,000   13,124,000  
Total 116,385,000             1,522,000   1,461,000   61,000   114,863,000         111,000   14,000   3,273,000   2,454,000   3,408,000   10,889,000   17,270,000   17,595,000   30,026,000   29,823,000  
Number of Securities                                                                            
Less than 12 months 157             33   31   2   124         1           4   6   7   25   15   31   35  
12 months or more 85             11   10   1   74             1   3   4   3   8   8   11   22   14  
Number of securities held with recognized credit-related OTTI losses                           5                                                
Credit-related OTTI losses recognized during the period 920,000                         920,000                                                
OTTI charges recorded                                                                            
Total OTTI losses 879,000                                                                          
OTTI reclassified from other comprehensive income 41,000                                                                          
OTTI recognized in earnings 920,000                         920,000                                                
Roll-forward of the credit loss component of OTTI                                                                            
Credit loss component of OTTI at beginning of period 34,915,000 24,345,000                                                                        
Additions for credit related OTTI not previously recognized 458,000                                                                          
Subsequent additional credit related OTTI recorded 462,000                                                                          
Credit loss component of OTTI at end of period 35,835,000 24,345,000                                                                        
Significant inputs considered and assumptions made in determining the measurement of the component of OTTI recorded in earnings                                                                            
Credit enhancement                               4.40% 0.00% 16.50%                                        
Projected CPR                               10.20% 9.40% 13.30%                                        
Projected Loss Severity                               55.40% 45.90% 60.00%                                        
60+ days delinquent                               21.50% 18.20% 23.80%                                        
Number of days considered to classify loans delinquent             60                                                              
Accumulated other comprehensive income from MBS:                                                                            
Balance at the beginning of the period 55,491,000 393,822,000           216,256,000   185,192,000 193,417,000 24,680,000 22,513,000 (160,765,000)         (111,000) (245,000) (14,000) (14,000) (2,911,000) (4,175,000) (2,454,000) (4,681,000) (336,000) (4,785,000) (4,481,000) (22,921,000) 35,661,000 (19,020,000) 2,093,000 (23,790,000) 31,862,000 (72,822,000) 43,448,000 (8,312,000)
Unrealized loss on Agency MBS, net (3,158,000) (8,743,000)                                                                        
Unrealized gain on Non-Agency MBS, net 262,602,000 18,106,000                                                                        
Reclassification adjustment for MBS sales included in net income (2,901,000)                                                                          
Reclassification adjustment for OTTI included in net income 920,000                                                                          
Change in accumulated other comprehensive income from MBS 257,463,000 9,363,000                                                                        
Balance at the end of period 312,954,000 403,185,000           210,197,000   185,192,000 193,417,000 24,680,000 22,513,000 102,757,000         (111,000) (245,000) (14,000) (14,000) (2,911,000) (4,175,000) (2,454,000) (4,681,000) (336,000) (4,785,000) (4,481,000) (22,921,000) 35,661,000 (19,020,000) 2,093,000 (23,790,000) 31,862,000 (72,822,000) 43,448,000 (8,312,000)
Changes in the components of the purchase discount on Non-Agency MBS                                                                            
Balance at beginning of period     (1,228,766,000) (746,678,000) (250,479,000) (228,966,000)                                                                
Accretion of discount         9,410,000 10,161,000                                                                
Realized credit losses     22,394,000 3,375,000                                                                    
Purchases     (108,449,000) (154,943,000) (7,433,000) 11,726,000                                                                
Reclassification adjustment for OTTI     684,000   (684,000)                                                                  
Net impairment losses recognized in earnings     (920,000)                                                                      
Unlinking of Linked Transactions     (38,579,000) (51,423,000) (6,078,000) (3,030,000)                                                                
Transfers/release of credit reserve     8,918,000 3,816,000 (8,918,000) (3,816,000)                                                                
Balance at end of period     (1,344,718,000) (945,853,000) (264,182,000) (213,925,000)                                                                
Purchase discount pertaining to linked transactions designated as accretable purchase discount reallocated to credit reserve                           629,000 1,200,000                                              
Sales of MBS                                                                            
Amount of MBS sold               71,100,000                                                            
Gross gains on sale of MBS               3,000,000                                                            
MBS Interest Income                                                                            
Coupon interest               64,008,000 67,707,000         60,860,000 39,537,000                                              
Effective yield adjustment               (10,708,000) (7,532,000)         9,344,000 10,112,000                                              
Interest on mortgage backed securities               $ 53,300,000 $ 60,175,000         $ 70,204,000 $ 49,649,000