Asset-Backed Securities Issued (Tables)

12 Months Ended

Dec. 31, 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 at December 31, 2014 and 2013, along with other selected information, are summarized in the following table.

Asset-Backed Securities Issued


	December 31, 2014
(Dollars in Thousands)	Sequoia			Residential Resecuritization			Commercial Securitization			Total
Certificates with principal balance	$	1,427,056		$	45,044		$	83,313		$	1,555,413
Interest-only certificates		2,079			—			—			2,079
Unamortized discount		(12,373	)		—			—			(12,373	)

Total ABS Issued	$	1,416,762		$	45,044		$	83,313		$	1,545,119

Range of weighted average interest rates, by series		0.36% to 4.27%			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 December 31, 2014 and 2013. Interest due on Sequoia, Residential Resecuritization, and Commercial Securitization ABS issued is payable monthly.

Accrued Interest Payable on Asset-Backed Securities Issued


(In Thousands)	December 31, 2014		December 31, 2013
Sequoia	$	976	$	1,218
Residential Resecuritization		5		11
Commercial Securitization		390		720

Total Accrued Interest Payable on ABS Issued	$	1,371	$	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 December 31, 2014 and 2013.

Collateral for Asset-Backed Securities Issued


	December 31, 2014
(In Thousands)	Sequoia		Residential Resecuritization		Commercial Securitization		Total
Residential loans	$	1,474,386	$	—	$	—	$	1,474,386
Commercial loans		—		—		194,991		194,991
Real estate securities		—		221,676		—		221,676
Restricted cash		147		43		137		327
Accrued interest receivable		2,359		477		1,511		4,347
REO		4,411		—		70		4,481

Total Collateral for ABS Issued	$	1,481,303	$	222,196	$	196,709	$	1,900,208


	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