v3.19.1

Valuation (Significant Unobservable Inputs Rollforward) (Details) - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2019 | Mar. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Transfers into Level 3 | $ 15,700 | $ 11,600
Assets, Transfers out of Level 3 | (4,600) | (5,600)
Other secured borrowings, at fair value |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Change in unrealized gains (losses), liabilities | 57 |
Securities |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Change in unrealized gain (loss), assets | 700 |
Loans |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Change in unrealized gain (loss), assets | 3,400 |
Investment in unconsolidated entities |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Change in unrealized gain (loss), assets | (2,100) |
Financial Derivatives - Assets |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Change in unrealized gain (loss), assets | (200) |
Level 3 |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance | 1,094,815 | 661,588
Assets, Accreted Discounts/Amortized Premiums | (10,641) | (6,329)
Assets, Realized Gain (Loss) | (1,647) | 4,342
Assets, Change In Net Unrealized Gain/(Loss) | 3,447 | 9,128
Assets, Purchases | 303,325 | 174,297
Assets, Sales | (167,106) | (90,246)
Assets, Transfers into Level 3 | 15,690 | 11,561
Assets, Transfers out of Level 3 | (4,564) | (5,618)
Assets, Ending Balance | 1,233,319 | 758,723
Liabilities, Begining Balance | (297,948) | (125,105)
Liabilities, Accreted Discounts/Amortized Premiums | 0 | 0
Liabilities, Realized Gain/(Loss) | 0 | 0
Liabilities, Change In Net Unrealized Gain/(Loss) | 57 | 784
Liabilities Purchases/Payments | 15,767 | 10,546
Liabilities, Sales/Issuance | 0 | 0
Liabilities, Transfers into Level 3 | 0 | 0
Liabilities, Transfers out of Level 3 | 0 | 0
Liabilities, Ending Balance | (282,124) | (113,775)
Level 3 | Other secured borrowings, at fair value |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Liabilities, Begining Balance | (297,948) | (125,105)
Liabilities, Accreted Discounts/Amortized Premiums | 0 | 0
Liabilities, Realized Gain/(Loss) | 0 | 0
Liabilities, Change In Net Unrealized Gain/(Loss) | 57 | 784
Liabilities, Payments | 15,767 | 10,546
Liabilities, Issuances | 0 | 0
Liabilities, Transfers into Level 3 | 0 | 0
Liabilities, Transfers out of Level 3 | 0 | 0
Liabilities, Ending Balance | (282,124) | (113,775)
Change in unrealized gains (losses), liabilities |  | 800
Level 3 | Securities | Agency RMBS |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance | 7,293 |
Assets, Accreted Discounts/Amortized Premiums | (774) |
Assets, Realized Gain (Loss) | (594) |
Assets, Change In Net Unrealized Gain/(Loss) | 189 |
Assets, Purchases | 6 |
Assets, Sales | 0 |
Assets, Transfers into Level 3 | 842 |
Assets, Transfers out of Level 3 | (573) |
Assets, Ending Balance | 6,389 |
Level 3 | Securities | Non-Agency RMBS |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance | 91,291 |
Assets, Accreted Discounts/Amortized Premiums | 63 |
Assets, Realized Gain (Loss) | (101) |
Assets, Change In Net Unrealized Gain/(Loss) | (535) |
Assets, Purchases | 15,546 |
Assets, Sales | (19,436) |
Assets, Transfers into Level 3 | 10,492 |
Assets, Transfers out of Level 3 | (2,650) |
Assets, Ending Balance | 94,670 |
Level 3 | Securities | CMBS |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance | 803 |
Assets, Accreted Discounts/Amortized Premiums | (14) |
Assets, Realized Gain (Loss) | 0 |
Assets, Change In Net Unrealized Gain/(Loss) | (8) |
Assets, Purchases | 0 |
Assets, Sales | 0 |
Assets, Transfers into Level 3 | 4,356 |
Assets, Transfers out of Level 3 | 0 |
Assets, Ending Balance | 5,137 |
Level 3 | Securities | CLOs |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance | 14,915 |
Assets, Accreted Discounts/Amortized Premiums | (406) |
Assets, Realized Gain (Loss) | (83) |
Assets, Change In Net Unrealized Gain/(Loss) | 49 |
Assets, Purchases | 8,304 |
Assets, Sales | 0 |
Assets, Transfers into Level 3 | 0 |
Assets, Transfers out of Level 3 | (1,341) |
Assets, Ending Balance | 21,438 |
Level 3 | Securities | Asset-backed securities, backed by consumer loans |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance | 22,800 |
Assets, Accreted Discounts/Amortized Premiums | (609) |
Assets, Realized Gain (Loss) | (512) |
Assets, Change In Net Unrealized Gain/(Loss) | 762 |
Assets, Purchases | 4,940 |
Assets, Sales | (3,273) |
Assets, Transfers into Level 3 | 0 |
Assets, Transfers out of Level 3 | 0 |
Assets, Ending Balance | 24,108 |
Level 3 | Securities | Corporate debt securities |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance | 6,318 |
Assets, Accreted Discounts/Amortized Premiums | 16 |
Assets, Realized Gain (Loss) | (1) |
Assets, Change In Net Unrealized Gain/(Loss) | (77) |
Assets, Purchases | 384 |
Assets, Sales | (903) |
Assets, Transfers into Level 3 | 0 |
Assets, Transfers out of Level 3 | 0 |
Assets, Ending Balance | 5,737 |
Level 3 | Securities | Corporate equity securities |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance | 1,530 |
Assets, Accreted Discounts/Amortized Premiums | 0 |
Assets, Realized Gain (Loss) | 0 |
Assets, Change In Net Unrealized Gain/(Loss) | (65) |
Assets, Purchases | 0 |
Assets, Sales | 0 |
Assets, Transfers into Level 3 | 0 |
Assets, Transfers out of Level 3 | 0 |
Assets, Ending Balance | 1,465 |
Level 3 | Investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance |  | 658,448
Assets, Accreted Discounts/Amortized Premiums |  | (6,329)
Assets, Realized Gain (Loss) |  | 4,256
Assets, Change In Net Unrealized Gain/(Loss) |  | 9,199
Assets, Purchases |  | 174,273
Assets, Sales |  | (90,136)
Assets, Transfers into Level 3 |  | 11,561
Assets, Transfers out of Level 3 |  | (5,618)
Assets, Ending Balance |  | 755,654
Change in unrealized gain (loss), assets |  | 8,600
Level 3 | Investments | Agency RMBS |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance |  | 6,173
Assets, Accreted Discounts/Amortized Premiums |  | (600)
Assets, Realized Gain (Loss) |  | 39
Assets, Change In Net Unrealized Gain/(Loss) |  | 264
Assets, Purchases |  | 1,101
Assets, Sales |  | (388)
Assets, Transfers into Level 3 |  | 0
Assets, Transfers out of Level 3 |  | (461)
Assets, Ending Balance |  | 6,128
Level 3 | Investments | Non-Agency RMBS |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance |  | 101,297
Assets, Accreted Discounts/Amortized Premiums |  | 106
Assets, Realized Gain (Loss) |  | 2,288
Assets, Change In Net Unrealized Gain/(Loss) |  | 293
Assets, Purchases |  | 20,660
Assets, Sales |  | (21,574)
Assets, Transfers into Level 3 |  | 11,561
Assets, Transfers out of Level 3 |  | (2,769)
Assets, Ending Balance |  | 111,862
Level 3 | Investments | CMBS |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance |  | 12,347
Assets, Accreted Discounts/Amortized Premiums |  | (183)
Assets, Realized Gain (Loss) |  | 1,554
Assets, Change In Net Unrealized Gain/(Loss) |  | 121
Assets, Purchases |  | 9,624
Assets, Sales |  | (7,366)
Assets, Transfers into Level 3 |  | 0
Assets, Transfers out of Level 3 |  | (2,388)
Assets, Ending Balance |  | 13,709
Level 3 | Investments | CLOs |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance |  | 24,911
Assets, Accreted Discounts/Amortized Premiums |  | 455
Assets, Realized Gain (Loss) |  | 2
Assets, Change In Net Unrealized Gain/(Loss) |  | 226
Assets, Purchases |  | 10,095
Assets, Sales |  | (8,210)
Assets, Transfers into Level 3 |  | 0
Assets, Transfers out of Level 3 |  | 0
Assets, Ending Balance |  | 27,479
Level 3 | Investments | Corporate debt securities |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance |  | 23,947
Assets, Accreted Discounts/Amortized Premiums |  | (114)
Assets, Realized Gain (Loss) |  | 52
Assets, Change In Net Unrealized Gain/(Loss) |  | 364
Assets, Purchases |  | 456
Assets, Sales |  | (6,705)
Assets, Transfers into Level 3 |  | 0
Assets, Transfers out of Level 3 |  | 0
Assets, Ending Balance |  | 18,000
Level 3 | Investments | Corporate equity securities |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance |  | 37,465
Assets, Accreted Discounts/Amortized Premiums |  | 0
Assets, Realized Gain (Loss) |  | 0
Assets, Change In Net Unrealized Gain/(Loss) |  | 4,326
Assets, Purchases |  | 9,078
Assets, Sales |  | 0
Assets, Transfers into Level 3 |  | 0
Assets, Transfers out of Level 3 |  | 0
Assets, Ending Balance |  | 50,869
Level 3 | Investments | Residential mortgage loans |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance |  | 182,472
Assets, Accreted Discounts/Amortized Premiums |  | (715)
Assets, Realized Gain (Loss) |  | (54)
Assets, Change In Net Unrealized Gain/(Loss) |  | (653)
Assets, Purchases |  | 73,040
Assets, Sales |  | (13,309)
Assets, Transfers into Level 3 |  | 0
Assets, Transfers out of Level 3 |  | 0
Assets, Ending Balance |  | 240,781
Level 3 | Investments | Commercial mortgage loans |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance |  | 108,301
Assets, Accreted Discounts/Amortized Premiums |  | 618
Assets, Realized Gain (Loss) |  | 330
Assets, Change In Net Unrealized Gain/(Loss) |  | (161)
Assets, Purchases |  | 3,988
Assets, Sales |  | (3,782)
Assets, Transfers into Level 3 |  | 0
Assets, Transfers out of Level 3 |  | 0
Assets, Ending Balance |  | 109,294
Level 3 | Investments | Consumer loans and asset-backed securities backed by consumer loans |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance |  | 135,258
Assets, Accreted Discounts/Amortized Premiums |  | (5,896)
Assets, Realized Gain (Loss) |  | 501
Assets, Change In Net Unrealized Gain/(Loss) |  | 3,804
Assets, Purchases |  | 42,133
Assets, Sales |  | (27,378)
Assets, Transfers into Level 3 |  | 0
Assets, Transfers out of Level 3 |  | 0
Assets, Ending Balance |  | 148,422
Level 3 | Investments | Real estate owned |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance |  | 26,277
Assets, Accreted Discounts/Amortized Premiums |  | 0
Assets, Realized Gain (Loss) |  | (456)
Assets, Change In Net Unrealized Gain/(Loss) |  | 615
Assets, Purchases |  | 4,098
Assets, Sales |  | (1,424)
Assets, Transfers into Level 3 |  | 0
Assets, Transfers out of Level 3 |  | 0
Assets, Ending Balance |  | 29,110
Level 3 | Loans | Residential mortgage loans |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance | 496,829 |
Assets, Accreted Discounts/Amortized Premiums | (927) |
Assets, Realized Gain (Loss) | (136) |
Assets, Change In Net Unrealized Gain/(Loss) | 1,901 |
Assets, Purchases | 157,602 |
Assets, Sales | (72,017) |
Assets, Transfers into Level 3 | 0 |
Assets, Transfers out of Level 3 | 0 |
Assets, Ending Balance | 583,252 |
Level 3 | Loans | Commercial mortgage loans |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance | 195,301 |
Assets, Accreted Discounts/Amortized Premiums | 306 |
Assets, Realized Gain (Loss) | 0 |
Assets, Change In Net Unrealized Gain/(Loss) | (333) |
Assets, Purchases | 48,857 |
Assets, Sales | (4,508) |
Assets, Transfers into Level 3 | 0 |
Assets, Transfers out of Level 3 | 0 |
Assets, Ending Balance | 239,623 |
Level 3 | Loans | Consumer loans |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance | 183,961 |
Assets, Accreted Discounts/Amortized Premiums | (8,572) |
Assets, Realized Gain (Loss) | (2,055) |
Assets, Change In Net Unrealized Gain/(Loss) | 1,842 |
Assets, Purchases | 54,256 |
Assets, Sales | (37,317) |
Assets, Transfers into Level 3 | 0 |
Assets, Transfers out of Level 3 | 0 |
Assets, Ending Balance | 192,115 |
Level 3 | Investment in unconsolidated entities |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance | 72,302 |
Assets, Accreted Discounts/Amortized Premiums | 276 |
Assets, Realized Gain (Loss) | 1,560 |
Assets, Change In Net Unrealized Gain/(Loss) | (39) |
Assets, Purchases | 13,428 |
Assets, Sales | (29,375) |
Assets, Transfers into Level 3 | 0 |
Assets, Transfers out of Level 3 | 0 |
Assets, Ending Balance | 58,152 |
Level 3 | Financial Derivatives - Assets |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance |  | 3,140
Assets, Accreted Discounts/Amortized Premiums |  | 0
Assets, Realized Gain (Loss) |  | 86
Assets, Change In Net Unrealized Gain/(Loss) |  | (71)
Assets, Purchases |  | 24
Assets, Sales |  | (110)
Assets, Transfers into Level 3 |  | 0
Assets, Transfers out of Level 3 |  | 0
Assets, Ending Balance |  | 3,069
Change in unrealized gain (loss), assets |  | (100)
Level 3 | Financial Derivatives - Assets | Credit default swaps on asset-backed securities |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Assets, Beginning Balance | 1,472 | 3,140
Assets, Accreted Discounts/Amortized Premiums | 0 | 0
Assets, Realized Gain (Loss) | 275 | 86
Assets, Change In Net Unrealized Gain/(Loss) | (239) | (71)
Assets, Purchases | 2 | 24
Assets, Sales | (277) | (110)
Assets, Transfers into Level 3 | 0 | 0
Assets, Transfers out of Level 3 | 0 | 0
Assets, Ending Balance | $ 1,233 | $ 3,069

X
- Definition The amount of accreted discounts and amortization of premiums related to investments in debt securities classified as Level 3 securities within the fair value heirarchy. + References No definition available. + Details
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- Definition Realized gain/loss on investment/derivatives classed as Level 3 within the fair value heirarchy. + References No definition available. + Details
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- Definition Change in unrealized gain/loss on investment/derivatives classed as Level 3 within the fair value heirarchy. + References No definition available. + Details
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- Definition Fair Value, Measurement With Unobservable Inputs Reconciliations, Recurring Basis, Liability, Accreted Discounts/Amortized Premiums + References No definition available. + Details
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- Definition Fair Value, Measurement With Unobservable Inputs Reconciliations, Recurring Basis, Liability, Realized Gain/(Loss) + References No definition available. + Details
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- Definition Sales and issues that have taken place during the period in relation to liabilities measured at fair value and categorized within Level 3 of the fair value hierarchy. + References No definition available. + Details
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- Definition Settlements and purchases that have taken place during the period in relation to liabilities measured at fair value and categorized within Level 3 of the fair value hierarchy. + References No definition available. + Details
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- Definition Amount of unrealized (holding) gain (loss) which is included in the statement of income (or changes in net assets) related to those assets still held at the reporting date for which fair value is measured on a recurring basis using significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. + References No definition available. + Details
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- Definition Amount of unrealized (holding) gain (loss) which is included in the statement of income (or changes in net assets) related to those liabilities still held at the reporting date for which fair value is measured on a recurring basis using significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition Amount of transfers of financial instrument classified as a liability into level 3 of the fair value hierarchy. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(3) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition Amount of transfers of financial instrument classified as a liability out of level 3 of the fair value hierarchy. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(3) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition Amount of purchases of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition Amount of sale of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition Amount of transfer of financial instrument classified as an asset into level 3 of the fair value hierarchy. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(3) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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