XML 74 R23.htm IDEA: XBRL DOCUMENT v2.4.0.8
Subsequent Events
6 Months Ended
Jun. 30, 2014
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
On July 2, 2014, IAS Services LLC refinanced its short-term fixed rate secured loans with FHLBI having an aggregate principal amount outstanding of $625.0 million into a single 10-year term secured loan that bears interest at three-month LIBOR plus 15 basis points. In addition, on July 3, 2014, IAS Services LLC entered into a 10-year $625.0 million aggregate principal amount secured loan with FHLBI that bears interest at the three-month FHLB swap rate plus 28 basis points. Both loans are secured by Agency RMBS and CMBS collateral. The Company estimates that these secured loans will extend its consolidated average liability days to maturity from approximately 2 months to approximately 12 months.