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Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash Flows From Operating Activities:    
Net income $ 73,447 $ 148,112
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization of premiums, discounts, and securities issuance costs, net (26,248) (18,060)
Depreciation and amortization of non-financial assets 369 310
Purchases of held-for-sale loans (6,844,403) (6,864,921)
Proceeds from sales of held-for-sale loans 5,328,901 6,263,058
Principal payments on held-for-sale loans 19,648 9,467
Net settlements of derivatives (22,776) 55,694
Provision (reversal of provision) for loan losses (629) 493
Non-cash equity award compensation expense 8,934 11,443
Market valuation adjustments, net (1,787) (76,425)
Realized gains, net (10,687) (34,322)
Net change in:    
Accrued interest receivable and other assets (57,806) 2,374
Accrued interest payable, deferred tax liabilities, and accrued expenses and other liabilities (266) 17,378
Net cash used in operating activities (1,533,303) (485,399)
Cash Flows From Investing Activities:    
Purchases of loans held-for-investment (65,584) (63,071)
Proceeds from sales of held-for-investment loans   440
Principal payments on held-for-investment loans 267,425 415,576
Purchases of real estate securities (132,393) (142,628)
Proceeds from sales of real estate securities 457,131 204,462
Principal payments on real estate securities 144,598 124,030
Purchase of mortgage servicing rights (41,834) (3,106)
Net change in restricted cash (57) (34)
Net cash provided by investing activities 629,286 535,669
Cash Flows From Financing Activities:    
Proceeds from borrowings on short-term debt 5,615,317 5,745,892
Repayments on short-term debt (4,643,308) (5,459,511)
Repayments on asset-backed securities issued (286,248) (465,986)
Deferred securities issuance costs   (9,184)
Proceeds from issuance of long-term debt 272,937 332,119
Repayments on long-term debt (685) (14)
Net settlements of derivatives (2,507) (9)
Net proceeds from issuance of common stock 3,840 6,452
Taxes paid on equity award distributions (7,635) (5,789)
Dividends paid (71,278) (70,675)
Net cash provided by financing activities 880,433 73,295
Net (decrease) increase in cash and cash equivalents (23,584) 123,566
Cash and cash equivalents at beginning of period 173,201 81,080
Cash and cash equivalents at end of period 149,617 204,646
Cash paid during the period for:    
Interest 57,047 60,394
Taxes 1,399 3,397
Supplemental Noncash Information:    
Real estate securities retained from loan securitizations 126,009 370,498
Retention of mortgage servicing rights from loan securitizations and sales 30,962 41,128
Transfers from loans held-for-sale to loans held-for-investment 278,913  
Transfers from residential loans to real estate owned $ 4,753 $ 3,448