Quarterly report pursuant to Section 13 or 15(d)

Collateralized Borrowings in Securitization Trusts, at Fair Value (Notes)

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Collateralized Borrowings in Securitization Trusts, at Fair Value (Notes)
9 Months Ended
Sep. 30, 2014
Collateralized Borrowings in Securitization Trust, at Fair Value [Abstract]  
Debt Disclosure [Text Block]
Collateralized Borrowings in Securitization Trusts, at Fair Value
The Company purchases subordinated debt and excess servicing rights from securitization trusts sponsored by either third parties or the Company’s subsidiaries. The debt associated with the underlying residential mortgage loans held by the trusts, which are consolidated on the Company’s condensed consolidated balance sheet, is classified as collateralized borrowings in securitization trusts and carried at fair value as a result of a fair value option election. See Note 3 - Variable Interest Entities for additional information regarding consolidation of the securitization trusts. As of September 30, 2014 and December 31, 2013, collateralized borrowings in securitization trusts had a carrying value of $938.5 million and $639.7 million with a weighted average interest rate of 3.7% and 2.8%, respectively. The stated maturity dates for all collateralized borrowings were more than five years from both September 30, 2014 and December 31, 2013.