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Fair Value of Financial Instruments - Valuation for Level 3 Assets (Details) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Balance at beginning of period $ 12,503,064 $ 9,835,319  
Total gains/(losses) (realized/unrealized)      
Included in earnings 623,077 (239,166)  
Included in other comprehensive income (loss) (13,665) 297  
Transfers in 0 0  
Transfers out (182) 0  
Contributions 50,000 0  
Paydowns/Distributions (168,277) (78,497)  
Sales (76,583) (2,185)  
Purchases 2,806,553 94,075  
Balance at the end of period 15,723,987 9,609,843  
Assets of consolidated VIEs 14,691,481   $ 11,984,374
Consolidated K-Series      
Total gains/(losses) (realized/unrealized)      
Assets of consolidated VIEs 2,400,000    
Multi-family loans held in securitization trusts      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Balance at beginning of period 11,679,847 9,657,421  
Total gains/(losses) (realized/unrealized)      
Included in earnings 574,231 (244,181)  
Included in other comprehensive income (loss) 0 0  
Transfers in 0 0  
Transfers out 0 0  
Contributions 0 0  
Paydowns/Distributions (106,363) (67,880)  
Sales 0 0  
Purchases 2,426,210 0  
Balance at the end of period 14,573,925 9,345,360  
Distressed and other residential mortgage loans      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Balance at beginning of period 737,523 87,153  
Total gains/(losses) (realized/unrealized)      
Included in earnings 25,359 (475)  
Included in other comprehensive income (loss) 0 0  
Transfers in 0 0  
Transfers out (182) 0  
Contributions 0 0  
Paydowns/Distributions (61,275) (9,371)  
Sales (19,814) (2,185)  
Purchases 380,343 94,075  
Balance at the end of period 1,061,954 169,197  
Investments in unconsolidated entities      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Balance at beginning of period 32,994 42,823  
Total gains/(losses) (realized/unrealized)      
Included in earnings 5,753 3,575  
Included in other comprehensive income (loss) 0 0  
Transfers in 0 0  
Transfers out 0 0  
Contributions 50,000 0  
Paydowns/Distributions (639) (1,246)  
Sales 0 0  
Purchases 0 0  
Balance at the end of period 88,108 45,152  
CMBS held in securitization trusts      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Balance at beginning of period 52,700 47,922  
Total gains/(losses) (realized/unrealized)      
Included in earnings 17,734 1,915  
Included in other comprehensive income (loss) (13,665) 297  
Transfers in 0 0  
Transfers out 0 0  
Contributions 0 0  
Paydowns/Distributions 0 0  
Sales (56,769) 0  
Purchases 0 0  
Balance at the end of period $ 0 $ 50,134