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Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash Flows From Operating Activities:    
Net income $ 28,350 $ 126,183
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization of premiums, discounts, and securities issuance costs, net (17,521) (11,780)
Depreciation and amortization of non-financial assets 232 224
Purchases of loans (3,118,457) (5,457,558)
Proceeds from sales of held-for-sale loans 2,339,023 4,345,361
Principal payments on held-for-sale loans 12,100 5,169
Net settlements of derivatives (14,873) 9,784
Provision (reversal of provision) for loan losses 967 (1,233)
Non-cash equity award compensation expense 6,681 9,515
Market valuation adjustments, net 14,034 (84,560)
Realized gains, net (2,155) (23,854)
Net change in:    
Accrued interest receivable and other assets (23,935) (10,871)
Accrued interest payable, deferred tax liabilities, and accrued expenses and other liabilities (10,655) 61,186
Net cash used in operating activities (786,209) (1,032,434)
Cash Flows From Investing Activities:    
Purchases of loans held-for-investment (38,991) (54,539)
Proceeds from sales of held-for-investment loans   440
Principal payments on held-for-investment loans 146,656 284,076
Purchases of real estate securities (126,162) 0
Proceeds from sales of real estate securities 1,313 22,518
Principal payments on real estate securities 95,303 81,250
Purchase of mortgage servicing rights (3,054)  
Net change in restricted cash 5 (22)
Net cash provided by investing activities 75,070 333,723
Cash Flows From Financing Activities:    
Proceeds from borrowings on short-term debt 2,417,438 3,989,557
Repayments on short-term debt (1,561,771) (3,095,514)
Repayments on asset-backed securities issued (174,861) (313,848)
Deferred securities issuance costs   (9,184)
Proceeds from issuance of long-term debt 69,181 304,100
Repayments on long-term debt (685) (9)
Net settlements of derivatives (1,650) (5)
Net proceeds from issuance of common stock 1,787 3,064
Taxes paid on equity award distributions (6,909) (5,741)
Dividends paid (47,513) (47,095)
Net cash provided by financing activities 695,017 825,325
Net (decrease) increase in cash and cash equivalents (16,122) 126,614
Cash and cash equivalents at beginning of period 173,201 81,080
Cash and cash equivalents at end of period 157,079 207,694
Cash paid during the period for:    
Interest 38,158 37,581
Taxes 1,399 1,097
Supplemental Noncash Information:    
Real estate securities retained from loan securitizations 85,000 290,253
Retention of mortgage servicing rights from loan securitizations and sales 11,976 28,614
Transfers from loans held-for-sale to loans held-for-investment 37,631  
Transfers from residential loans to real estate owned $ 1,832 $ 2,687