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Debt Obligations (Tables)
 6 Months Ended
Jun. 30, 2013
Debt Disclosure [Abstract]  
Repurchase Obligations Outstanding

The following table details the repurchase obligations outstanding as of June 30, 2013 ($ in thousands):

 

            Collateral Assets      Repurchase Balances  

Repurchase Lender

    Facility
Size		      Principal
Balance		      Net Book
Value		      Maximum
Borrowings		      Current
Borrowings		      Available
Borrowings  (1)		  

Bank of America

    $ 250,000       $ 126,300       $ 125,557       $ 101,040       $ 46,400       $ 54,640   

Wells Fargo

      250,000         300,000         298,533         250,000         —           250,000   

Citibank

      250,000         156,438         156,039         118,839         118,839         —     

JP Morgan

      250,000         —           —           —           —           —     
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 1,000,000       $ 582,738       $ 580,129       $ 469,879       $ 165,239       $ 304,640   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 

(1) Available borrowings is based on assets pledged as collateral under credit facilities as of June 30, 2013. There were two loans with an aggregate principal balance of $173.8 million as of June 30, 2013 that were not pledged under repurchase agreements, and therefore are available to be pledged as collateral in the future.
Balances of Each Entity's Outstanding Securitized Debt Obligations, their Respective Coupons and All-in Effective Costs, Including Amortization of Fees and Expenses

The balances of each of our consolidated securitization vehicles’ outstanding securitized debt obligations, their respective coupons and all-in effective costs, including the amortization of fees and expenses, were as follows ($ in thousands):

 

     June  30,
2013		      December 31,
2012		           June  30,
2013		  

Non-Recourse Securitized Debt Obligations

    Principal
Balance		      Book
Value		      Book
Value		           Coupon  (1)     All-In
Cost  (1)		     Maturity
Date  (2)		  

CT CDO I

    $ 74,472       $ 74,472       $ 91,131             1.79 %      1.79 %      July 2039   

GSMS 2006-FL8A

      —           —           48,053             —          —          N/A   
  

 

 

     

 

 

     

 

 

         

 

 

    

 

 

    

 

 

  

Total/Weighted Average

    $ 74,472       $ 74,472       $ 139,184             1.79 %      1.79 %      July 2039   
  

 

 

     

 

 

     

 

 

         

 

 

    

 

 

    

 

 

  

 

(1) Represents a weighted average for the facility, assuming LIBOR of 0.19% at June 30, 2013 for floating rate debt obligations.
(2) Maturity date represent the contractual maturity of the securitization trust. Repayment of securitized debt is a function of collateral cash flows which are disbursed in accordance with the contractual provisions of each trust, and is generally expected to occur prior to the maturity date above.