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Derivative Financial Instruments and Hedging Activities (Tables) | 3 Months Ended
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Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Changes in Notional Balance of Holdings of Derivatives | The following table summarizes the changes in the notional balances of our holdings of derivatives during the three months ended March 31, 2014:
| IRLCs |  | Forward MBS Trades |  | Interest Rate Caps
Beginning notional balance | $ | 751,436 |  |  | $ | 950,648 |  |  | $ | 1,868,000 |
Additions | 1,220,165 |  |  | 749,786 |  |  | 100,000 |
Amortization | 94,571 |  |  | — |  |  | (112,000 | )
Maturities | (1,134,684 | ) |  | (438,509 | ) |  | — |
Terminations | (310,295 | ) |  | (333,877 | ) |  | — |
Ending notional balance | $ | 621,193 |  |  | $ | 928,048 |  |  | $ | 1,856,000 |
Fair value of derivative assets (liabilities) at: |  |  |  |  |  |  |  |
March 31, 2014 | $ | 9,420 |  |  | $ | 699 |  |  | $ | 324 |
December 31, 2013 | $ | 8,433 |  |  | $ | 6,905 |  |  | $ | 442 |
Maturity | April 2014 - July 2014 |  | April 2014 - June 2014 |  | Nov. 2016
Schedule of Gains (Losses) on Derivatives | The following summarizes our open derivative positions at March 31, 2014 and the gains (losses) on those and similar derivatives for the year to date then ended. None of the derivatives was designated as a hedge for accounting purposes at March 31, 2014:
Purpose |  | Expiration Date |  | Notional Amount |  | Fair Value (1) |  | Gains / (Losses) |  | Consolidated Statement of Operations Caption
Hedge the effect of changes in interest rates on interest expense on borrowings |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate caps |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge the effect of changes in 1ML on advance funding facilities |  | Nov. 2016 |  | $ | 1,856,000 |  |  | $ | 324 |  |  | $ | (141 | ) |  | Other, net
Interest rate risk of mortgage loans held for sale and of IRLCs |  |  |  |  |  |  |  |  |  |
Forward MBS trades |  | April 2014 - June 2014 |  | 928,048 |  |  | 699 |  |  | (13,610 | ) |  | Gain on loans held for sale, net
IRLCs |  | April 2014 - July 2014 |  | 621,193 |  |  | 9,420 |  |  | 986 |  |  | Gain on loans held for sale, net
Total derivatives |  |  |  |  |  |  | $ | 10,443 |  |  | $ | (12,765 | ) |  |
(1) | Derivatives are reported at fair value in Receivables, Other assets and Other liabilities on our unaudited Consolidated Balance Sheet.
Schedule of Changes in the Losses on Cash Flow Hedges Included in AOCL | Changes in AOCL during three months ended March 31 were as follows:
| 2014 |  | 2013
Beginning balance | $ | 10,151 |  |  | $ | 6,441 |
Additional net losses on cash flow hedges | — |  |  | 6,924 |
Ineffectiveness of cash flow hedges reclassified to earnings | — |  |  | (657 | )
Losses on terminated hedging relationships amortized to earnings | (779 | ) |  | — |
Net increase (decrease) in accumulated losses on cash flow hedges | (779 | ) |  | 6,267 |
(Increase) decrease in deferred taxes on accumulated losses on cash flow hedges | 171 |  |  | (2,548 | )
Increase (decrease) in accumulated losses on cash flow hedges, net of taxes | (608 | ) |  | 3,719 |
Other, net of income taxes | (1 | ) |  | (40 | )
Ending balance | $ | 9,542 |  |  | $ | 10,120 |
Schedule of Statements of Operations Related to Derivative Financial Instruments | Other income (expense), net, includes the following related to derivative financial instruments for three months ended March 31:
| 2014 |  | 2013
Losses on economic hedges | $ | (141 | ) |  | $ | (5,079 | )
Ineffectiveness of cash flow hedges | — |  |  | (657 | )
Write-off of losses in AOCL for a discontinued hedge relationship | (779 | ) |  | — |
| $ | (920 | ) |  | $ | (5,736 | )

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- Definition Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in cash flow hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41678-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41620-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5580258-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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