XML 116 R51.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Derivative Financial Instruments and Hedging Activities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 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 nine months ended September 30, 2014:
| IRLCs |  | Forward MBS Trades |  | Interest Rate Caps
Beginning notional balance | $ | 751,436 |  |  | $ | 950,648 |  |  | $ | 1,868,000 |
Additions | 3,795,311 |  |  | 6,951,828 |  |  | 100,000 |
Amortization | 94,571 |  |  | — |  |  | (490,000 | )
Maturities | (3,298,265 | ) |  | (3,379,589 | ) |  | — |
Terminations | (876,254 | ) |  | (3,762,592 | ) |  | — |
Ending notional balance | $ | 466,799 |  |  | $ | 760,295 |  |  | $ | 1,478,000 |
Fair value of derivative assets (liabilities) at: |  |  |  |  |  |  |  |
September 30, 2014 | $ | 6,117 |  |  | $ | (1,089 | ) |  | $ | 91 |
December 31, 2013 | $ | 8,433 |  |  | $ | 6,905 |  |  | $ | 442 |
Maturity | Nov. 2014 - Jan. 2014 |  | Nov. 2014 - Dec. 2014 |  | Nov. 2016
Schedule of Gains (Losses) on Derivatives | The following summarizes our open derivative positions at September 30, 2014 and the gains (losses) on all derivatives used in each of the identified hedging programs for the year to date period then ended. None of the derivatives was designated as a hedge for accounting purposes at September 30, 2014:
Purpose |  | Expiration Date |  | Notional Amount |  | Fair Value (1) |  | Gains / (Losses) |  | Consolidated Statements 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 |  | $ | 1,478,000 |  |  | $ | 91 |  |  | $ | (374 | ) |  | Other, net
Interest rate risk of mortgage loans held for sale and of IRLCs |  |  |  |  |  |  |  |  |  |
Forward MBS trades |  | Nov. 2014 - Dec. 2014 |  | 760,295 |  |  | (1,089 | ) |  | (32,183 | ) |  | Gain on loans held for sale, net
IRLCs |  | Nov. 2014 - Jan. 2014 |  | 466,799 |  |  | 6,117 |  |  | (2,315 | ) |  | Gain on loans held for sale, net
Total derivatives |  |  |  |  |  |  | $ | 5,119 |  |  | $ | (34,872 | ) |  |
(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 the nine months ended September 30 were as follows:
| 2014 |  | 2013
Beginning balance | $ | 10,151 |  |  | $ | 6,441 |
Additional net losses on cash flow hedges | — |  |  | 12,363 |
Ineffectiveness of cash flow hedges reclassified to earnings | — |  |  | (657 | )
Losses on terminated hedging relationships amortized to earnings | (1,579 | ) |  | (9,434 | )
Net increase (decrease) in accumulated losses on cash flow hedges | (1,579 | ) |  | 2,272 |
Decrease (increase) in deferred taxes on accumulated losses on cash flow hedges | 217 |  |  | (933 | )
(Decrease) increase in accumulated losses on cash flow hedges, net of taxes | (1,362 | ) |  | 1,339 |
Other, net of taxes | (5 | ) |  | (711 | )
Ending balance | $ | 8,784 |  |  | $ | 7,069 |
Schedule of Statements of Operations Related to Derivative Financial Instruments | Other income (expense), net, includes the following related to derivative financial instruments for the three and nine months ended September 30:
| Three Months |  | Nine Months
| 2014 |  | 2013 |  | 2014 |  | 2013
Losses on economic hedges | $ | (6 | ) |  | $ | (103 | ) |  | $ | (374 | ) |  | $ | (3,822 | )
Ineffectiveness of cash flow hedges | — |  |  | — |  |  | — |  |  | (657 | )
Write-off of losses in AOCL for a discontinued hedge relationship | (408 | ) |  | (7,780 | ) |  | (1,580 | ) |  | (9,434 | )
| $ | (414 | ) |  | $ | (7,883 | ) |  | $ | (1,954 | ) |  | $ | (13,913 | )

X
- Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration