Asset-Backed Securities Issued (Tables)

9 Months Ended

Sep. 30, 2014

Carrying Value of ABS Issued by Consolidated Securitization Entities Sponsored, along with Other Selected Information

The carrying values of ABS issued by consolidated securitization entities we sponsored at September 30, 2014 and December 31, 2013, along with other selected information, are summarized in the following table.

Asset-Backed Securities Issued


	September 30, 2014
(Dollars in Thousands)	Sequoia		Residential Resecuritization		Commercial Securitization		Total
Certificates with principal balance	$	1,495,988	$	56,508	$	114,943	$	1,667,439
Interest-only certificates		2,318		-		-		2,318
Unamortized discount		(13,555)		-		-		(13,555)

Total ABS Issued	$	1,484,751	$	56,508	$	114,943	$	1,656,202

Range of weighted average interest rates, by series		0.08% to 4.26%		2.16%		5.62%
Stated maturities		2014 - 2047		2046		2018
Number of series		24		1		1

	December 31, 2013
(Dollars in Thousands)	Sequoia		Residential Resecuritization		Commercial Securitization		Total
Certificates with principal balance	$	1,708,324	$	94,934	$	153,693	$	1,956,951
Interest-only certificates		3,400		-		-		3,400
Unamortized discount		(17,389)		-		-		(17,389)

Total ABS Issued	$	1,694,335	$	94,934	$	153,693	$	1,942,962

Range of weighted average interest rates, by series		0.24% to 4.23%		2.21%		5.62%
Stated maturities		2014 - 2047		2046		2018
Number of series		24		1		1

Summary of Accrued Interest Payable on ABS Issued

The following table summarizes the accrued interest payable on ABS issued at September 30, 2014 and December 31, 2013. Interest due on consolidated ABS issued is payable monthly.

Accrued Interest Payable on Asset-Backed Securities Issued


(In Thousands)	September 30, 2014		December 31, 2013
Sequoia	$	1,034	$	1,218
Residential Resecuritization		7		11
Commercial Securitization		539		720

Total Accrued Interest Payable on ABS Issued	$	1,580	$	1,949

Summary of Carrying Value Components of Collateral for ABS Issued and Outstanding

The following table summarizes the carrying value components of the collateral for ABS issued and outstanding at September 30, 2014 and December 31, 2013.

Collateral for Asset-Backed Securities Issued


	September 30, 2014
(In Thousands)	Sequoia		Residential Resecuritization		Commercial Securitization		Total
Residential loans	$	1,546,507	$	-	$	-	$	1,546,507
Commercial loans		-		-		204,741		204,741
Real estate securities		-		233,311		-		233,311
Restricted cash		147		-		138		285
Accrued interest receivable		1,882		506		1,527		3,915
Other assets		3,349		-		21,699		25,048

Total Collateral for ABS Issued	$	1,551,885	$	233,817	$	228,105	$	2,013,807


	December 31, 2013
(In Thousands)	Sequoia		Residential Resecuritization		Commercial Securitization		Total
Residential loans	$	1,762,167	$	-	$	-	$	1,762,167
Commercial loans		-		-		257,741		257,741
Real estate securities		-		263,204		-		263,204
Restricted cash		152		-		137		289
Accrued interest receivable		2,714		627		1,975		5,316
REO		3,661		-		-		3,661

Total Collateral for ABS Issued	$	1,768,694	$	263,831	$	259,853	$	2,292,378