Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2012	Nov. 09, 2012
Document and Entity Information
Entity Registrant Name	IMPAC MORTGAGE HOLDINGS INC
Entity Central Index Key	0001000298
Document Type	10-Q
Document Period End Date	Sep. 30, 2012
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		7,925,383
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
ASSETS
Cash and cash equivalents	$ 8,031	$ 7,653
Restricted cash	2,601	5,019
Trust assets
Investment securities available-for-sale	112	688
Securitized mortgage collateral	5,738,150	5,449,001
Derivative assets	37	37
Real estate owned	26,502	56,467
Total trust assets	5,764,801	5,506,193
Mortgage loans held-for-sale	145,346	61,718
Mortgage servicing rights	9,317	4,141
Assets of discontinued operations	125	264
Other assets	36,853	27,052
Total assets	5,967,074	5,612,040
Trust liabilities
Securitized mortgage borrowings	5,725,469	5,454,901
Derivative liabilities	19,112	24,786
Total trust liabilities	5,744,581	5,479,687
Warehouse borrowings	131,690	58,691
Long-term debt	12,274	11,561
Notes payable	4,507	5,182
Liabilities of discontinued operations	19,264	9,932
Other liabilities	26,009	15,890
Total liabilities	5,938,325	5,580,943
Commitments and contingencies
STOCKHOLDERS' EQUITY
Common stock, $0.01 par value; 200,000,000 shares authorized; 7,898,162 and 7,814,946 shares issued and outstanding as of September 30, 2012 and December 31, 2011, respectively	79	78
Additional paid-in capital	1,077,666	1,076,723
Net accumulated deficit:
Cumulative dividends declared	(822,520)	(822,520)
Retained deficit	(227,191)	(224,334)
Net accumulated deficit	(1,049,711)	(1,046,854)
Total Impac Mortgage Holdings, Inc. stockholders' equity	28,055	29,968
Noncontrolling interests	694	1,129
Total equity	28,749	31,097
Total liabilities and stockholders' equity	5,967,074	5,612,040
Series A junior participating preferred stock
STOCKHOLDERS' EQUITY
Preferred stock
Series B 9.375% redeemable preferred stock
STOCKHOLDERS' EQUITY
Preferred stock	7	7
Series C 9.125% redeemable preferred stock
STOCKHOLDERS' EQUITY
Preferred stock	$ 14	$ 14

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	9 Months Ended	12 Months Ended
	Sep. 30, 2012	Dec. 31, 2011
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	7,898,162	7,814,946
Common stock, shares outstanding	7,898,162	7,814,946
Series A junior participating preferred stock
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,500,000	2,500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series B 9.375% redeemable preferred stock
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, dividend rate (as a percent)	9.375%	9.375%
Preferred stock, liquidation value (in dollars)	$ 16,640	$ 16,640
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	665,592	665,592
Preferred stock, shares outstanding	665,592	665,592
Series C 9.125% redeemable preferred stock
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, dividend rate (as a percent)	9.125%	9.125%
Preferred stock, liquidation value (in dollars)	$ 35,127	$ 35,127
Preferred stock, shares authorized	5,500,000	5,500,000
Preferred stock, shares issued	1,405,086	1,405,086
Preferred stock, shares outstanding	1,405,086	1,405,086

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
INTEREST INCOME	$ 115,091	$ 172,779	$ 384,792	$ 592,962
INTEREST EXPENSE	114,794	172,497	382,918	590,117
Net interest income	297	282	1,874	2,845
NON-INTEREST INCOME:
Change in fair value of net trust assets, excluding REO	(5,998)	10,297	5,562	17,596
Gains (losses) from REO	3,548	(6,867)	(9,761)	(11,855)
Non-interest (loss) income - net trust assets	(2,450)	3,430	(4,199)	5,741
Mortgage lending gains and fees, net	24,324	4,574	48,587	7,670
Real estate services fees, net	5,776	13,272	16,815	36,820
Gain on sale of Experience 1, Inc.		1,780		1,780
Other	617	1,159	1,353	1,527
Total non-interest income	28,267	24,215	62,556	53,538
NON-INTEREST EXPENSE:
Personnel expense	16,664	13,599	39,469	36,659
General, administrative and other	4,938	5,505	13,689	15,089
Total non-interest expense	21,602	19,104	53,158	51,748
Earnings from continuing operations before income taxes	6,962	5,393	11,272	4,635
Income tax expense from continuing operations	8	957	44	978
Earnings from continuing operations	6,954	4,436	11,228	3,657
Loss from discontinued operations, net of tax	(9,021)	(1,490)	(13,402)	(1,832)
Net (loss) earnings	(2,067)	2,946	(2,174)	1,825
Net (earnings) loss attributable to noncontrolling interest	(212)	156	(683)	651
Net (loss) earnings attributable to IMH	$ (2,279)	$ 3,102	$ (2,857)	$ 2,476
Earnings (loss) per common share - basic:
Earnings from continuing operations attributable to IMH (in dollars per share)	$ 0.86	$ 0.59	$ 1.35	$ 0.55
Loss from discontinued operations (in dollars per share)	$ (1.15)	$ (0.19)	$ (1.71)	$ (0.23)
Net (loss) earnings per share available to common stockholders (in dollars per share)	$ (0.29)	$ 0.40	$ (0.36)	$ 0.32
Earnings (loss) per common share - diluted:
Earnings from continuing operations attributable to IMH (in dollars per share)	$ 0.86	$ 0.55	$ 1.35	$ 0.52
Loss from discontinued operations (in dollars per share)	$ (1.15)	$ (0.18)	$ (1.71)	$ (0.22)
Net (loss) earnings per share available to common stockholders (in dollars per share)	$ (0.29)	$ 0.37	$ (0.36)	$ 0.30

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) earnings	$ (2,174)	$ 1,825
Losses from REO	9,761	11,855
Extinguishment of debt	423	338
Change in fair value of mortgage servicing rights	869	(106)
Gain on sale of loans	(39,088)	(6,312)
Change in fair value of mortgage loans held-for-sale	(7,048)	(1,272)
Provision for repurchases	1,179	350
Origination of mortgage loans held-for-sale	(1,568,847)	(525,106)
Sale and principal reduction on mortgage loans held-for-sale	1,521,098	486,235
Change in fair value of net trust assets, excluding REO	(14,032)	(61,693)
Change in fair value of long-term debt	(872)	(2,102)
Accretion of interest income and expense	200,194	251,040
Change in REO impairment reserve	(20,620)	(22,248)
Stock-based compensation	201	222
Impairment of deferred charge		949
Gain on sale of Experience 1, Inc.		(1,780)
Net change in restricted cash	2,418	(3,420)
Amortization of discount on note payable	89	985
Net cash provided by (used in) operating activities of discontinued operations	9,502	(2,685)
Net change in other assets and liabilities	3,286	3,439
Net cash provided by operating activities	96,339	130,514
CASH FLOWS FROM INVESTING ACTIVITIES:
Net change in securitized mortgage collateral	494,552	530,949
Net change in mortgages held-for-investment	6	(61)
Purchase of premises and equipment	(144)	(612)
Net principal change on investment securities available-for-sale	167	161
Sale of Experience 1, Inc.		512
Proceeds from the sale of real estate owned	80,120	117,265
Net cash provided by investing activities	574,701	648,214
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of warehouse borrowings	(1,464,471)	(474,848)
Borrowings under warehouse agreement	1,537,470	517,739
Repayment of line of credit	(14,750)	(1,850)
Borrowings under line of credit	14,750	3,850
Repayment of securitized mortgage borrowings	(742,270)	(825,447)
Issuance of note payable	7,500	8,815
Principal payments on notes payable	(8,687)	(9,688)
Principal payments on capital lease	(239)	(201)
Proceeds from exercise of stock options	66	14
Net cash used in financing activities	(670,631)	(781,616)
Net change in cash and cash equivalents	409	(2,888)
Cash and cash equivalents at beginning of year	7,665	11,620
Cash and cash equivalents at end of period - continuing operations	8,031	8,716
Cash and cash equivalents at end of period - discontinued operations	43	16
Cash and cash equivalents at end of period	8,074	8,732
NON-CASH TRANSACTIONS (Continuing and Discontinued Operations):
Transfer of securitized mortgage collateral to real estate owned	39,296	75,419
Acquisition of equipment purchased through capital leases	199	587
Increase in ownership of AmeriHome	677
Notes received upon sale of Experience 1, Inc.		$ 200

Summary of Business, Market Conditions, and Financial Statement Presentation

9 Months Ended

Sep. 30, 2012

Summary of Business, Market Conditions, and Financial Statement Presentation

Summary of Business, Market Conditions, and Financial Statement Presentation

Note 1.—Summary of Business, Market Conditions, and Financial Statement Presentation

Business Summary

Impac Mortgage Holdings, Inc. (the Company or IMH) is a Maryland corporation incorporated in August 1995 and has the following subsidiaries: Integrated Real Estate Service Corporation (IRES), IMH Assets Corp. (IMH Assets) and Impac Funding Corporation (IFC).

The Company’s continuing operations include mortgage lending and real estate services conducted by IRES and the long-term mortgage portfolio (residual interests in securitizations reflected as net trust assets and liabilities in the consolidated balance sheets). The discontinued operations include the former non-conforming mortgage operations conducted by IFC and subsidiaries.

The information set forth in these notes is presented on a continuing operations basis, unless otherwise stated.

Market Update and Liquidity –

The U.S. economy expanded at a 2.0% annual rate during the third quarter of 2012 as compared to 1.3% in the second quarter of 2012 primarily as a result of government and consumer spending. While the economy added jobs in the third quarter of 2012, the pace of new job creation continues to be slower than needed to meaningfully reduce unemployment. U.S. unemployment rates, which have been a major factor in the deterioration of credit quality in the U.S., although improving slightly, continue to remain high at 7.8% in September 2012. Despite the trend toward improving U.S. data, significant downside risk factors remain in place, at least through mid-2013. Downside risk associated with global macroeconomic conditions, particularly in Europe and Asia, remains significant. Also, the combination of federal tax increases and spending cuts known as the “Fiscal Cliff” is scheduled to take effect in early 2013 unless the U.S. Congress acts to change current laws. According to studies done by the Congressional budget office, if nothing is done to address the Fiscal Cliff, the U.S. economy may be pushed back into a recession in 2013. As a result, there continues to be significant uncertainty as to how pronounced the economic recovery will be and whether it can be sustained.

Real estate activity showed some encouraging signs as the nationwide average of home prices have appeared to hit a bottom and are starting to recover, although home prices continued to decline in many parts of the U.S. during the first nine months of 2012. Some positive news indicates that construction of new homes continued to grow in the third quarter, although at a slow rate. However, foreclosures remain one of the biggest risks to the housing market recovery. As the industry-wide compliance issues associated with foreclosures are resolved, an increase in foreclosures is anticipated which is expected to result in downward pressure and uncertainty in the housing market.

As a result of the current conditions of the U.S. economy, in September 2012, the Federal Reserve announced a new quantitative easing program including agency mortgage-backed securities purchases, known as QE3. In addition to QE3, the Federal Reserve announced its intention to keep the federal funds rate near zero through mid-2015. The combination of these actions may increase equity prices and has decreased mortgage interest rates. Although the benefits of these actions are difficult to assess, the expectation is that they will add to the current moderate pace of consumer spending and to the improving pace of new and existing home purchases for the remainder of 2012 and into 2013.

In late October, hurricane Sandy impacted the Mid-Atlantic and Northeast coasts of the U.S. Given the severe magnitude and recent occurrence of this event, the ongoing dislocation within the affected region and lack of data available, the effect of hurricane Sandy on the economy cannot yet be fully assessed.

The Company believes that current cash balances, cash flows from its mortgage lending activities, real estate and loss mitigation services fees generated from the long-term mortgage portfolio, and residual interest cash flows from the long-term mortgage portfolio are adequate for current operating needs. However, the Company believes the mortgage lending and real estate services markets will continue to be highly competitive and subject to increased regulation. Competition in mortgage lending comes primarily from mortgage bankers, commercial banks, credit unions and other finance companies which have offices in the Company’s market area as well as operations throughout the U.S. The Company competes for loans principally on the basis of the interest rates and loan fees charged, the types of loans originated and the quality of services provided to borrowers. Additionally, competition for real estate recovery services, loss mitigation servicing, loan modification services and other portfolio services has increased due to the unprecedented difficult mortgage environment and severe credit tightening, coupled with the stagnant economy. The Company’s competitors in its real estate service operations include large mortgage servicers, established special servicers, and newer entrants to the specialty servicing and recovery collections business. It is more difficult for the Company than its competitors to promote its ability to provide loss mitigation, special servicing and real estate services for others because the Company has not historically provided such services to unrelated third parties, and the Company is not a rated primary or special servicer of residential mortgage loans as designated by a rating agency.

The Company has experienced recent success in expanding its mortgage lending business, primarily due to its origination of mortgages eligible for sale to government agencies on a service retained basis. However, retaining servicing is a use of capital and the Company must carefully manage the size of its servicing portfolio, including selling servicing rights on a selective basis, to stay within capital constraints. The Company is currently exploring opportunities to obtain additional capital to support the growth of the mortgage servicing portfolio and expansion of its origination platform and volumes. Without additional capital, the Company’s mortgage lending business may not grow at the same pace as recently experienced. Additionally, performance of the long-term mortgage portfolio is affected by the ongoing slow recoveries of both the real estate market and the general economy as a whole. Cash flows from the residual interests in securitizations can be volatile and difficult to predict, because they are sensitive to delinquencies, defaults and credit losses associated with the securitized loans and interest rates associated with the securitized bonds. Losses in excess of current estimates will reduce the residual interest cash receipts from the long-term mortgage portfolio. To the extent the related multifamily portion of the long-term mortgage portfolio experiences higher than expected credit losses, the Company, as the master servicer, may need to make advances on the multifamily portion.

Financial Statement Presentation

The accompanying unaudited consolidated financial statements of IMH and its subsidiaries (as defined above) have been prepared in accordance with Accounting Principles Generally Accepted in the United States of America (GAAP) for interim financial information and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments considered necessary for a fair presentation, have been included. Operating results for the three and nine months ended September 30, 2012 are not necessarily indicative of the results that may be expected for the year ending December 31, 2012. These interim period condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements, which are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, filed with the United States Securities and Exchange Commission (SEC).

All significant inter-company balances and transactions have been eliminated in consolidation. In addition, certain amounts in the prior periods’ consolidated financial statements have been reclassified to conform to the current year presentation.

Management has made a number of estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period to prepare these consolidated financial statements in conformity with GAAP. The items affected by such estimates and assumptions include the valuation of trust assets and trust liabilities, the estimated obligation of repurchase liabilities related to sold loans, the valuation of long-term debt, mortgage servicing rights and mortgage loans held-for-sale. Actual results could differ from those estimates and assumptions.

Recent Accounting Pronouncements

In September 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2011-08, Testing Goodwill for Impairment. Under this new standard, entities testing goodwill for impairment now have an option of performing a qualitative assessment before having to calculate the fair value of a reporting unit. If an entity determines, on the basis of qualitative factors, that the fair value of the reporting unit is more-likely-than-not less than the carrying amount, the existing quantitative impairment test is required. Otherwise, no further impairment testing is required. This ASU was effective beginning January 1, 2012 with early adoption permitted under certain conditions. The adoption of this standard did not have a material impact on the Company’s consolidated results of operations or financial condition.

In May 2011, the FASB issued ASU 2011-04, “Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs.” ASU 2011-04 amends guidance listed under ASC Topic 820, “Fair Value Measurement,” and represents the converged guidance of the FASB and the International Accounting Standards Board on fair value measurement. This Update also permits entities to measure fair value on a net basis for financial instruments that are managed based on net exposure to market risks and/or counterparty credit risk. ASU 2011-04 requires new disclosures for financial instruments classified as Level 3, including: 1) quantitative information about unobservable inputs used in measuring fair value; 2) qualitative discussion of the sensitivity of fair value measurements to changes in unobservable inputs; and 3) a description of valuation processes used. This update also requires disclosure of fair value levels for financial instruments that are not recorded at fair value but for which fair value is required to be disclosed. ASU 2011-04 became effective prospectively for interim and annual periods beginning after December 15, 2011. The Company has conformed to the new disclosures required in ASU 2011-04 during the first quarter of 2012.

In July 2012, the FASB issued ASU No. 2012-02, Intangibles—Goodwill and Other (Topic 350)—Testing Indefinite-Lived Intangible Assets for Impairment, which updated guidance on the periodic testing of indefinite-lived intangible assets, other than goodwill, for impairment. This guidance will allow companies to make a qualitative assessment about the likelihood that an indefinite-lived intangible asset, other than goodwill, is impaired in order to determine whether it is necessary to perform a quantitative impairment test. ASU 2012-02 will be effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, with early adoption permitted. The Company does not plan to early adopt ASU 2012-02; therefore, the ASU 2012-02 is effective for the Company beginning with the first quarter of fiscal year 2013. The Company does not anticipate the adoption of ASU 2012-02 to have a material impact on its results of operations, financial condition or cash flows.

Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2012

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Note 2.—Fair Value of Financial Instruments

The use of fair value to measure the Company’s financial instruments is fundamental to its consolidated financial statements and is a critical accounting estimate because a substantial portion of its assets and liabilities are recorded at estimated fair value.

The following table presents the estimated fair value of financial instruments included in the consolidated financial statements as of the dates indicated:

	September 30, 2012				December 31, 2011
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets
Cash and cash equivalents	$	8,031	$	8,031	$	7,653	$	7,653
Restricted cash	2,601		2,601		5,019		5,019
Investment securities available-for-sale	112		112		688		688
Securitized mortgage collateral	5,738,150		5,738,150		5,449,001		5,449,001
Derivative assets, securitized trusts	37		37		37		37
Derivative assets, lending	9,409		9,409		1,179		1,179
Mortgage servicing rights	9,317		9,317		4,141		4,141
Mortgage loans held-for-sale	145,346		145,346		61,718		61,718
Call option	73		73		253		253

Liabilities
Securitized mortgage borrowings	5,725,469		5,725,469		5,454,901		5,454,901
Derivative liabilities, securitized trusts	19,112		19,112		24,786		24,786
Derivative liabilities, lending	3,786		3,786		624		624
Long-term debt	12,274		12,274		11,561		11,561
Warehouse borrowings	131,690		131,690		58,691		58,691
Notes payable	4,507		4,909		5,182		5,941
Line of credit	4,000		4,000		4,000		4,000
Put option	9		9		—		—

The fair value amounts above have been estimated by management using available market information and appropriate valuation methodologies. Considerable judgment is required to interpret market data to develop the estimates of fair value in both inactive and orderly markets. Accordingly, the estimates presented are not necessarily indicative of the amounts that could be realized in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.

For securitized mortgage collateral and securitized mortgage borrowings, the underlying Alt-A residential and commercial loans and mortgage-backed securities market have experienced significant declines in market activity, along with a lack of orderly transactions. The Company’s methodology to estimate fair value of these assets and liabilities include the use of internal pricing techniques such as the net present value of future expected cash flows (with observable market participant assumptions, where available) discounted at a rate of return based on the Company’s estimates of market participant requirements. The significant assumptions utilized in these internal pricing techniques, which are based on the characteristics of the underlying collateral, include estimated credit losses, estimated prepayment speeds and appropriate discount rates.

Refer to Recurring Fair Value Measurements below for a description of the valuation methods used to determine the fair value of investment securities available for sale, securitized mortgage collateral and borrowings, derivative assets and liabilities, long-term debt, mortgage servicing rights, loans held-for-sale, and call and put options.

The carrying amount of cash and cash equivalents and restricted cash approximates fair value.

Warehouse borrowings fair value approximates carrying amounts due to the short-term nature of the liabilities and do not present unanticipated interest rate or credit concerns.

Line of credit fair value approximates carrying amount due to the short-term nature of the liability and does not present unanticipated interest rate or credit concerns.

Notes payable includes notes with maturities ranging from less than a year to three years. Notes payable is recorded at amortized cost, net of any discounts. The estimated fair value is determined using a discounted cash flow model using estimated market rates.

Fair Value Hierarchy

The application of fair value measurements may be on a recurring or nonrecurring basis depending on the accounting principles applicable to the specific asset or liability or whether management has elected to carry the item at its estimated fair value.

FASB ASC 820-10-35 specifies a hierarchy of valuation techniques based on whether the inputs to those techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs create the following fair value hierarchy:

· Level 1—Quoted prices (unadjusted) in active markets for identical instruments or liabilities that an entity has the ability to assess at measurement date.

· Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; inputs other than quoted prices that are observable for an asset or liability, including interest rates and yield curves observable at commonly quoted intervals, prepayment speeds, loss severities, credit risks and default rates; and market-corroborated inputs.

· Level 3—Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when estimating fair value.

As a result of the lack of observable market data resulting from inactive markets, the Company has classified its investment securities available-for-sale, securitized mortgage collateral and borrowings, net derivative liabilities — securitized trusts, long-term debt, mortgage servicing rights, and call and put options as Level 3 fair value measurements. Level 3 assets and liabilities were 97% and 100% and 99% and 100%, respectively, of total assets and total liabilities measured at estimated fair value at September 30, 2012 and December 31, 2011.

Recurring Fair Value Measurements

We assess our financial instruments on a quarterly basis to determine the appropriate classification within the fair value hierarchy, as defined by ASC Topic 810. Transfers between fair value classifications occur when there are changes in pricing observability levels. Transfers of financial instruments among the levels occur at the beginning of the reporting period. There were no material transfers between our Level 1 and Level 2 classified instruments during the three and nine months ended September 30, 2012.

The following tables present the Company’s assets and liabilities that are measured at estimated fair value on a recurring basis, including financial instruments for which the Company has elected the fair value option at September 30, 2012 and December 31, 2011, based on the fair value hierarchy:

	Recurring Fair Value Measurements
	September 30, 2012						December 31, 2011
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets
Investment securities available-for-sale	$	—	$	—	$	112	$	—	$	—	$	688
Mortgage loans held-for-sale	—		145,346		—		—		61,718		—
Derivative assets, net, lending (1)	—		5,623		—		—		555		—
Mortgage servicing rights	—		—		9,317		—		—		4,141
Call option (2)	—		—		73		—		—		253
Securitized mortgage collateral	—		—		5,738,150		—		—		5,449,001
Total assets at fair value	$	—	$	150,969	$	5,747,652	$	—	$	62,273	$	5,454,083

Liabilities
Securitized mortgage borrowings	$	—	$	—	$	5,725,469	$	—	$	—	$	5,454,901
Derivative liabilities, net, securitized trusts (3)	—		—		19,075		—		—		24,749
Long-term debt	—		—		12,274		—		—		11,561
Put option (4)	—		—		9		—		—		—
Total liabilities at fair value	$	—	$	—	$	5,756,827	$	—	$	—	$	5,491,211

(1) At September 30, 2012, derivative assets, net, lending, included $9.4 million in interest rate lock commitments (IRLCs) and $3.8 million in hedging instruments, respectively, associated with the Company’s mortgage lending operations, and is included in other assets and other liabilities in the accompanying consolidated balance sheets.

(2) Included in other assets in the accompanying consolidated balance sheets.

(3) At September 30, 2012, derivative liabilities, net—securitized trusts, included $37 thousand in derivative assets and $19.1 million in derivative liabilities, included within trust assets and trust liabilities, respectively. At December 31, 2011, derivative liabilities, net—securitized trusts, included $37 thousand in derivative assets and $24.8 million in derivative liabilities, included within trust assets and trust liabilities, respectively.

(4) Included in other liabilities in the accompanying consolidated balance sheets.

The following tables present a reconciliation for all assets and liabilities measured at estimated fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2012 and 2011:

	Level 3 Recurring Fair Value Measurements
	For the three months ended September 30, 2012
	Investment securities available- for-sale			Securitized mortgage collateral			Securitized mortgage borrowings			Derivative liabilities, net			Mortgage servicing rights			Call option		Put option			Long-term debt
Fair value, June 30, 2012	$	140		$	5,430,443		$	(5,426,042	)	$	(20,402	)	$	7,090		$	73	$	(9	)	$	(11,952	)
Total gains (losses) included in earnings:
Interest income (1)	7			32,452			—			—			—			—		—			—
Interest expense (1)	—			—			(95,316		)	—			—			—		—			(512		)
Change in fair value	15			467,423			(472,583		)	(853		)	(494		)	—		—			190
Total (losses) gains included in earnings	22			499,875			(567,899		)	(853		)	(494		)	—		—			(322		)
Transfers in and/or out of Level 3	—			—			—			—			—			—		—			—
Purchases, issuances and settlements
Purchases	—			—			—			—			—			—		—			—
Issuances	—			—			—			—			4,621			—		—			—
Settlements	(50		)	(192,168		)	268,472			2,180			(1,900		)	—		—			—
Fair value, September 30, 2012	$	112		$	5,738,150		$	(5,725,469	)	$	(19,075	)	$	9,317		$	73	$	(9	)	$	(12,274	)
Unrealized gains (losses) still held (2)	$	40		$	(2,992,344	)	$	5,026,505		$	(18,342	)	$	—		$	—	$	—		$	58,489

(1) Amounts primarily represent accretion to recognize interest income and interest expense using effective yields based on estimated fair values for trust assets and trust liabilities. The net interest income, including cash received and paid, was $1.8 million for the three months ended September 30, 2012. The difference between accretion of interest income and expense and the amounts of interest income and expense recognized in the consolidated statements of operations is primarily from contractual interest on the securitized mortgage collateral and borrowings.

(2) Represents the amount of unrealized gains (losses) relating to assets and liabilities classified as Level 3 that are still held and reflected in the fair values at September 30, 2012.

	Level 3 Recurring Fair Value Measurements
	For the three months ended September 30, 2011
	Investment securities available- for-sale			Securitized mortgage collateral			Securitized mortgage borrowings			Derivative liabilities, net			Mortgage servicing rights		Call option			Put option			Long-term debt
Fair value, June 30, 2011	$	447		$	5,641,957		$	(5,651,842	)	$	(38,104	)	$	1,405	$	454		$	(23	)	$	(12,148	)
Total gains (losses) included in earnings:
Interest income (1)	30			73,164			—			—			—		—			—			—
Interest expense (1)	—			—			(152,229		)	—			—		—			—			(644		)
Change in fair value	17			(92,459		)	106,771			(4,032		)	140		(202		)	8			1,459
Total gains (losses) included in earnings	47			(19,295		)	(45,458		)	(4,032		)	140		(202		)	8			815
Transfers in and/or out of Level 3	—			—			—			—			—		—			—			—
Purchases, issuances and settlements
Purchases	—			—			—			—					—			—			—
Issuances	—			—			—			—			645		—			—			—
Settlements	(50		)	(181,072		)	251,270			11,111			—		—			—			—
Fair value, September 30, 2011	$	444		$	5,441,590		$	(5,446,030	)	$	(31,025	)	$	2,190	$	252		$	(15	)	$	(11,333	)
Unrealized gains (losses) still held (2)	$	279		$	(4,333,232	)	$	6,294,503		$	(30,665	)	$	—	$	—		$	—		$	59,430

(1) Amounts primarily represent accretion to recognize interest income and interest expense using effective yields based on estimated fair values for trust assets and trust liabilities. The net interest income, including cash received and paid, was $2.0 million for the three months ended September 30, 2011. The difference between accretion of interest income and expense and the amounts of interest income and expense recognized in the consolidated statements of operations is primarily from contractual interest on the securitized mortgage collateral and borrowings.

(2) Represents the amount of unrealized gains (losses) relating to assets and liabilities classified as Level 3 that are still held and reflected in the fair values at September 30, 2011.

	Level 3 Recurring Fair Value Measurements
	For the nine months ended September 30, 2012
	Investment securities available- for-sale			Securitized mortgage collateral			Securitized mortgage borrowings			Derivative liabilities, net			Mortgage servicing rights			Call option			Put option			Long-term debt
Fair value, December 31, 2011	$	688		$	5,449,001		$	(5,454,901	)	$	(24,749	)	$	4,141		$	253		$	—		$	(11,561	)
Total gains (losses) included in earnings:
Interest income (1)	30			124,292			—			—			—			—			—			—
Interest expense (1)	—			—			(322,931		)	—			—			—			—			(1,585		)
Change in fair value	(439		)	698,704			(689,979		)	(2,724		)	(869		)	(180		)	(9		)	872
Total (losses) gains included in earnings	(409		)	822,996			(1,012,910		)	(2,724		)	(869		)	(180		)	(9		)	(713		)
Transfers in and/or out of Level 3	—			—			—			—												—
Purchases, issuances and settlements
Purchases	—			—			—			—			—			—			—			—
Issuances	—			—			—			—			10,257			—			—			—
Settlements	(167		)	(533,847		)	742,342			8,398			(4,212		)	—			—			—
Fair value, September 30, 2012	$	112		$	5,738,150		$	(5,725,469	)	$	(19,075	)	$	9,317		$	73		$	(9	)	$	(12,274	)
Unrealized gains (losses) still held (2)	$	40		$	(2,992,344	)	$	5,026,505		$	(18,342	)	$	—		$	—		$	—		$	58,489

(1) Amounts primarily represent accretion to recognize interest income and interest expense using effective yields based on estimated fair values for trust assets and trust liabilities. The net interest income, including cash received and paid, was $6.2 million for the nine months ended September 30, 2012. The difference between accretion of interest income and expense and the amounts of interest income and expense recognized in the consolidated statements of operations is primarily from contractual interest on the securitized mortgage collateral and borrowings.

(2) Represents the amount of unrealized gains (losses) relating to assets and liabilities classified as Level 3 that are still held and reflected in the fair values at September 30, 2012.

	Level 3 Recurring Fair Value Measurements
	For the nine months ended September 30, 2011
	Investment securities available- for-sale			Securitized mortgage collateral			Securitized mortgage borrowings			Derivative liabilities, net			Mortgage servicing rights		Call option			Put option			Long-term debt
Fair value, December 31, 2010	$	645		$	6,011,675		$	(6,012,745	)	$	(65,876	)	$	1,439	$	706		$	(61	)	$	(11,728	)
Total gains (losses) included in earnings:
Interest income (1)	88			276,009			—			—			—		—			—			—
Interest expense (1)	—			—			(525,430		)	—			—		—			—			(1,707		)
Change in fair value	(128		)	(239,727		)	265,754			(8,303		)	106		(454		)	46			2,102
Total (losses) gains included in earnings	(40		)	36,282			(259,676		)	(8,303		)	106		(454		)	46			395
Transfers in and/or out of Level 3	—			—			—			—			—		—			—			—
Purchases, issuances and settlements
Purchases	—			—			—			—			—		—			—			—
Issuances	—			—			—			—			645		—			—			—
Settlements	(161		)	(606,367		)	826,391			43,154			—		—			—			—
Fair value, September 30, 2011	$	444		$	5,441,590		$	(5,446,030	)	$	(31,025	)	$	2,190	$	252		$	(15	)	$	(11,333	)
Unrealized gains (losses) still held (2)	$	279		$	(4,333,232	)	$	6,294,503		$	(30,665	)	$	—	$	—		$	—		$	59,430

(1) Amounts primarily represent accretion to recognize interest income and interest expense using effective yields based on estimated fair values for trust assets and trust liabilities. The net interest income, including cash received and paid, was $7.5 million for the nine months ended September 30, 2011. The difference between accretion of interest income and expense and the amounts of interest income and expense recognized in the consolidated statements of operations is primarily from contractual interest on the securitized mortgage collateral and borrowings.

(2) Represents the amount of unrealized gains (losses) relating to assets and liabilities classified as Level 3 that are still held and reflected in the fair values at September 30, 2011.

The following table presents quantitative information about the valuation techniques and unobservable inputs applied to Level 3 fair value measurements for financial instruments measured at fair value on a recurring and non-recurring basis at September 30, 2012.

Financial Instrument	Estimated Fair Value			Valuation Technique	Unobservable Input	Range of Inputs
Assets and liabilities backed by real estate
Investment securities available-for-sale,	$	112		DCF	Discount rates	3.72 - 30.0%
Securitized mortgage collateral, and	5,738,150				Prepayment rates	0.82 - 10.6%
Securitized mortgage borrowings	(5,725,469		)		Default rates	0.79 - 10.2%
					Loss severities	12.7 - 62.8%
Other assets and liabilities
Mortgage servicing rights	$	9,317		DCF	Discount rate	12.0%
					Prepayment rates	4.09 - 15.4%
Derivative liabilities, net, securitized trusts	(19,075		)	DCF	1M forward LIBOR	0.21 - 3.52%
Long-term debt	(12,274		)	DCF	Discount rate	25.0%
Lease liability	(1,841		)	DCF	Discount rate	12.0%

DCF = Discounted Cash Flow

1M = 1 Month

For assets and liabilities backed by real estate, a significant increase in discount rates, default rates or loss severities would result in a significantly lower estimated fair value. The effect of changes in prepayment speeds would have differing effects depending on the seniority or other characteristics of the instrument. For other assets and liabilities, a significant increase in discount rates would result in a significantly lower estimated fair value. A significant increase in one-month LIBOR would result in a significantly higher estimated fair value for derivative liabilities, net, securitized trusts. The Company believes that the imprecision of an estimate could be significant.

The table below illustrates hypothetical fair values of MSRs, caused by assumed immediate changes to key assumptions that are used to determine fair value.

Mortgage Servicing Rights Sensitivity Analysis	September 30, 2012

Fair value of MSRs	$	9,317

Prepayment Speed:
Decrease in fair value from 25 basis points (bps) adverse change	(168		)
Decrease in fair value from 50 bps adverse change	(333		)

Discount Rate:
Decrease in fair value from 25 bps adverse change	(16		)
Decrease in fair value from 50 bps adverse change	(37		)

Default Rate:
Decrease in fair value from 25 bps adverse change	(461		)
Decrease in fair value from 50 bps adverse change	(1,535		)

Sensitivities are hypothetical changes in fair value and cannot be extrapolated because the relationship of changes in assumptions to changes in fair value may not be linear. Also, the effect of a variation in a particular assumption is calculated without changing any other assumption, whereas a change in one factor may result in changes to another. Accordingly, no assurance can be given that actual results would be consistent with the results of these estimates. As a result, actual future changes in MSR values may differ significantly from those displayed above.

The following tables present the changes in recurring fair value measurements included in net earnings (loss) for the three and nine months ended September 30, 2012 and 2011:

	Recurring Fair Value Measurements
	Change in Fair Value Included in Net Earnings
	For the three months ended September 30, 2012
	Interest		Interest			Change in Fair Value of					Other Non-interest			Mortgage lending
	Income (1)		Expense (1)			Net Trust Assets			Long-term Debt		Income			gains and fees, net			Total
Investment securities available-for-sale	$	7	$	—		$	15		$	—	$	—		$	—		$	22
Securitized mortgage collateral	32,452		—			467,423			—		—			—			499,875
Securitized mortgage borrowings	—		(95,316		)	(472,583		)	—		—			—			(567,899		)
Mortgage servicing rights	—		—			—			—		(494		)	—			(494		)
Call option	—		—			—			—		—			—			—
Put option	—		—			—			—		—			—			—
Derivative liabilities, net	—		—			(853		)(2)	—		—			—			(853		)
Long-term debt	—		(512		)	—			190		—			—			(322		)
Mortgage loans held-for-sale	—		—			—			—		—			4,220			4,220
Derivative assets - IRLCs	—		—			—			—		—			4,950			4,950
Derivative liabilities - Hedging Instruments	—		—			—			—		—			(2,234		)	(2,234		)
Total	$	32,459	$	(95,828	)	$	(5,998	)	$	190	$	(494	)	$	6,936		$	(62,735	)

(1) Amounts primarily represent accretion to recognize interest income and interest expense using effective yields based on estimated fair values for trust assets and trust liabilities.

(2) Included in this amount is $1.3 million in change in the fair value of derivative instruments, offset by $2.2 million in cash payments from the securitization trusts for the three months ended September 30, 2012.

	Recurring Fair Value Measurements
	Change in Fair Value Included in Net Loss
	For the three months ended September 30, 2011
	Interest		Interest			Change in Fair Value of					Other Non-interest			Mortgage lending
	Income (1)		Expense (1)			Net Trust Assets			Long-term Debt		Income			gains and fees, net			Total
Investment securities available-for-sale	$	30	$	—		$	17		$	—	$	—		$	—		$	47
Securitized mortgage collateral	73,164		—			(92,459		)	—		—			—			(19,295		)
Securitized mortgage borrowings	—		(152,229		)	106,771			—		—			—			(45,458		)
Mortgage servicing rights	—		—			—			—		140			—			140
Call option	—		—			—			—		(202		)	—			(202		)
Put option	—		—			—			—		8			—			8
Derivative liabilities, net	—		—			(4,032		)(2)	—		—			—			(4,032		)
Long-term debt	—		(644		)	—			1,459		—			—			815
Mortgage loans held-for-sale	—		—			—			—		—			457			457
Derivative assets - IRLCs	—		—			—			—		—			1,064			1,064
Derivative liabilities - Hedging Instruments	—		—			—			—		—			(796		)	(796		)
Total	$	73,194	$	(152,873	)	$	10,297		$	1,459	$	(54	)	$	725		$	(67,252	)

(1) Amounts primarily represent accretion to recognize interest income and interest expense using effective yields based on estimated fair values for trust assets and trust liabilities.

(2) Included in this amount is $7.4 million in changes in the fair value of derivative instruments, offset by $11.4 million in cash payments from the securitization trusts for the three months ended September 30, 2011.

	Recurring Fair Value Measurements
	Changes in Fair Value Included in Net Earnings
	For the nine months ended September 30, 2012
	Interest		Interest			Change in Fair Value of					Other Non-interest			Mortgage lending
	Income (1)		Expense (1)			Net Trust Assets			Long-term Debt		Income			gains and fees, net			Total
Investment securities available-for-sale	$	30	$	—		$	(439	)	$	—	$	—		$	—		$	(409	)
Securitized mortgage collateral	124,292		—			698,704			—		—			—			822,996
Securitized mortgage borrowings	—		(322,931		)	(689,979		)	—		—			—			(1,012,910		)
Mortgage servicing rights	—		—			—			—		(869		)	—			(869		)
Call option	—		—			—			—		(180		)	—			(180		)
Put option	—		—			—			—		(9		)	—			(9		)
Derivative liabilities, net	—		—			(2,724		)(2)	—		—			—			(2,724		)
Long-term debt	—		(1,585		)	—			872		—			—			(713		)
Mortgage loans held-for-sale	—		—			—			—		—			7,048			7,048
Derivative assets - IRLCs	—		—			—			—		—			8,231			8,231
Derivative liabilities - Hedging Instruments	—		—			—			—		—			(3,163		)	(3,163		)
Total	$	124,322	$	(324,516	)	$	5,562	(3)	$	872	$	(1,058	)	$	12,116		$	(182,702	)

(1) Amounts primarily represent accretion to recognize interest income and interest expense using effective yields based on estimated fair values for trust assets and trust liabilities.

(2) Included in this amount is $5.8 million in change in the fair value of derivative instruments, offset by $8.5 million in cash payments from the securitization trusts for the nine months ended September 30, 2012.

(3) For the nine months ended September 30, 2012, change in the fair value of trust assets, excluding REO was $5.6 million. Excluded from the $14.1 million change in fair value of net trust assets, excluding REO, in the accompanying consolidated statement of cash flows is $8.5 million in cash payments from the securitization trusts related to the Company’s net derivative liabilities.

	Recurring Fair Value Measurements
	Changes in Fair Value Included in Net Earnings
	For the nine months ended September 30, 2011
	Interest		Interest			Change in Fair Value of					Other Non-interest			Mortgage lending
	Income (1)		Expense (1)			Net Trust Assets			Long-term Debt		Income			gains and fees, net			Total
Investment securities available-for-sale	$	88	$	—		$	(128	)	$	—	$	—		$	—		$	(40	)
Securitized mortgage collateral	276,009		—			(239,727		)	—		—			—			36,282
Securitized mortgage borrowings	—		(525,430		)	265,754			—		—			—			(259,676		)
Mortgage servicing rights	—		—			—			—		106			—			106
Call option	—		—			—			—		(454		)	—			(454		)
Put option	—		—			—			—		46			—			46
Derivative liabilities, net	—		—			(8,303		)(2)	—		—			—			(8,303		)
Long-term debt	—		(1,707		)	—			2,102		—			—			395
Mortgage loans held-for-sale	—		—			—			—		—			1,272			1,272
Derivative assets - IRLCs	—		—			—			—		—			1,358			1,358
Derivative liabilities - Hedging Instruments	—		—			—			—		—			(923		)	(923		)
Total	$	276,097	$	(527,137	)	$	17,596	(3)	$	2,102	$	(302	)	$	1,707		$	(229,937	)

(1) Amounts primarily represent accretion to recognize interest income and interest expense using effective yields based on estimated fair values for trust assets and trust liabilities.

(2) Included in this amount is $35.8 million in changes in the fair value of derivative instruments, offset by $44.1 million in cash payments from the securitization trusts for the nine months ended September 30, 2011.

(3) For the nine months ended September 30, 2011, change in the fair value of trust assets, excluding REO was $17.6 million. Excluded from the $61.7 million change in fair value of net trust assets, excluding REO, in the accompanying consolidated statement of cash flows is $44.1 million in cash payments from the securitization trusts related to the Company’s net derivative liabilities.

The following is a description of the measurement techniques for items recorded at estimated fair value on a recurring basis.

Investment securities available-for-sale—Investment securities available-for-sale are carried at fair value. The investment securities consist primarily of non-investment grade mortgage-backed securities. The fair value of the investment securities is measured based upon the Company’s expectation of inputs that other market participants would use. Such assumptions include judgments about the underlying collateral, prepayment speeds, future credit losses, forward interest rates and certain other factors. Given the market disruption and lack of observable market data as of September 30, 2012 and December 31, 2011, the estimated fair value of the investment securities available-for-sale was measured using significant internal expectations of market participants’ assumptions. Investment securities available-for-sale are considered a Level 3 measurement at September 30, 2012.

Mortgage servicing rights—The Company elected to carry all of its mortgage servicing rights arising from its mortgage loan operations at fair value. The fair value of mortgage servicing rights is based upon market prices for similar instruments and an internal discounted cash flow model. The valuation model incorporates assumptions that market participants would use in estimating the fair value of servicing. These assumptions include estimates of prepayment speeds, discount rate, cost to service, escrow account earnings, contractual servicing fee income, prepayment and late fees, among other considerations. Mortgage servicing rights are considered a Level 3 measurement at September 30, 2012.

Mortgage loans held-for-sale—The Company elected to carry its mortgage loans held-for-sale originated or acquired from its mortgage lending operation at fair value. Fair value is based on quoted market prices, where available, prices for other traded mortgage loans with similar characteristics, and purchase commitments and bid information received from market participants. Given the meaningful level of secondary market activity for conforming mortgage loans, active pricing is available for similar assets and accordingly, the Company classifies its mortgage loans held-for-sale as a Level 2 measurement at September 30, 2012.

Call option—As part of the acquisition of AmeriHome as more fully discussed in Note 21.—Business Combinations of our Annual Report on Form 10-K for the year ended December 31, 2011, the purchase agreement included a call option to purchase an additional 39% of AmeriHome. In June 2012, the Company and the noncontrolling interest holder entered into an agreement to transfer an additional 27.5% ownership of AmeriHome to the Company in exchange for the settlement of balances owed from the noncontrolling interest holder related to the Company for capital contributions made by the Company to AmeriHome and indemnification provisions included in the purchase agreement. As of September 30, 2012, the Company owns 78.5% of AmeriHome, and accordingly retains an option to purchase 11.5% of AmeriHome. The estimated fair value is based on a model incorporating various assumptions including expected future book value of AmeriHome, the probability of the option being exercised, volatility, expected term and certain other factors. The call option is considered a Level 3 measurement at September 30, 2012.

Put option—As part of the acquisition of AmeriHome, the purchase agreement included a put option which allows the noncontrolling interest holder to sell his then remaining 49% of AmeriHome to the Company in the event the Company does not exercise the call option discussed above. In June 2012, the Company and the noncontrolling interest holder entered into an agreement to transfer 27.5% ownership of AmeriHome to the Company in exchange for the settlement of balances owed from the noncontrolling interest holder related to capital contributions made by the Company to AmeriHome and indemnification provisions included in the purchase agreement. As of September 30, 2012, the noncontrolling interest holder owns 21.5% of AmeriHome, and accordingly retains an option to sell the 21.5% interest to the Company. The estimated fair value is based on a model incorporating various assumptions including expected future book value of AmeriHome, the probability of the option being exercised, volatility, expected term and certain other factors. The put option is considered a Level 3 measurement at September 30, 2012.

Securitized mortgage collateral—The Company elected to carry all of its securitized mortgage collateral at fair value. These assets consist primarily of non-conforming mortgage loans securitized between 2002 and 2007. Fair value measurements are based on the Company’s internal models used to compute the net present value of future expected cash flows, with observable market participant assumptions, where available. The Company’s assumptions include its expectations of inputs that other market participants would use in pricing these assets. These assumptions include judgments about the underlying collateral, prepayment speeds, estimated future credit losses, forward interest rates, investor yield requirements and certain other factors. As of September 30, 2012, securitized mortgage collateral had an unpaid principal balance of $8.7 billion, compared to an estimated fair value of $5.7 billion. The aggregate unpaid principal balance exceeds the fair value by $3.0 billion at September 30, 2012. As of September 30, 2012, the unpaid principal balance of loans 90 days or more past due was $1.7 billion compared to an estimated fair value of $0.6 billion. The aggregate unpaid principal balances of loans 90 days or more past due exceed the fair value by $1.1 billion at September 30, 2012. Securitized mortgage collateral is considered a Level 3 measurement at September 30, 2012.

Securitized mortgage borrowings—The Company elected to carry all of its securitized mortgage borrowings at fair value. These borrowings consist of individual tranches of bonds issued by securitization trusts and are primarily backed by non-conforming mortgage loans. Fair value measurements are based on the Company’s internal models used to compute the net present value of future expected cash flows, with observable market participant assumptions, where available. Fair value measurements include the Company’s judgments about the underlying collateral and assumptions such as prepayment speeds, estimated future credit losses, forward interest rates, investor yield requirements and certain other factors. As of September 30, 2012, securitized mortgage borrowings had an outstanding principal balance of $8.7 billion compared to an estimated fair value of $5.7 billion. The aggregate outstanding principal balance exceeds the fair value by $3.0 billion at September 30, 2012. Securitized mortgage borrowings is considered a Level 3 measurement at September 30, 2012.

Long-term debt—The Company elected to carry all of its long-term debt (consisting of trust preferred securities and junior subordinated notes) at fair value. These securities are measured based upon an analysis prepared by management, which considered the Company’s own credit risk, including settlements with trust preferred debt holders and discounted cash flow analysis. As of September 30, 2012, long-term debt had an unpaid principal balance of $70.5 million compared to an estimated fair value of $12.3 million. The aggregate unpaid principal balance exceeds the fair value by $58.2 million at September 30, 2012. The long-term debt is considered a Level 3 measurement at September 30, 2012.

Derivative assets and liabilities, Securitized trusts—For non-exchange traded contracts, fair value is based on the amounts that would be required to settle the positions with the related counterparties as of the valuation date. Valuations of derivative assets and liabilities are based on observable market inputs, if available. To the extent observable market inputs are not available, fair values measurements include the Company’s judgments about future cash flows, forward interest rates and certain other factors, including counterparty risk. Additionally, these values also take into account the Company’s own credit standing, to the extent applicable; thus, the valuation of the derivative instrument includes the estimated value of the net credit differential between the counterparties to the derivative contract. As of September 30, 2012, the notional balance of derivative assets and liabilities, securitized trusts was $911.7 million. These derivatives are included in the consolidated securitization trusts, which are nonrecourse to the Company, and thus the economic risk from these derivatives is limited to the Company’s residual interests in the securitization trusts. Derivative assets and liabilities, securitized trusts are considered a Level 3 measurement at September 30, 2012.

Derivative assets and liabilities, Lending—The Company’s derivative assets and liabilities are carried at fair value as required by GAAP and are accounted for as free standing derivatives. The derivative assets are IRLCs with prospective residential mortgage borrowers whereby the interest rate on the loan is determined prior to funding and the borrowers have locked in that interest rate. These commitments are determined to be derivative instruments in accordance with GAAP. The derivative liabilities are hedging instruments (typically TBA securities) used to hedge the risk of fair value changes associated with changes in interest rates relating to its mortgage lending operations. The Company hedges the period from the interest rate lock (assuming a fall-out factor) to the date of the loan sale. The estimated fair value is based on current market prices for similar instruments. Given the meaningful level of secondary market activity for derivative contracts, active pricing is available for similar assets and accordingly, the Company classifies its derivative assets and liabilities, lending as a Level 2 measurement at September 30, 2012.

The following table includes information for the derivative assets and liabilities — lending for the periods presented:

			Total Gains (Losses)
	Notional Balance		For the Three Months Ended			For the Nine Months Ended
	September 30, 2012		September 30, 2012 (1)			September 30, 2012 (1)
Derivative assets - IRLC’s	$	383,776	$	4,950		$	8,231
Derivative liabilities - TBA/FNMA’s	310,207		(8,553		)	(15,883		)

(1) Amounts included in mortgage lending gains and fees, net within the accompanying consolidated statements of operations.

Nonrecurring Fair Value Measurements

The Company is required to measure certain assets and liabilities at estimated fair value from time to time. These fair value measurements typically result from the application of specific accounting pronouncements under GAAP. The fair value measurements are considered nonrecurring fair value measurements under FASB ASC 820-10.

The following tables present financial and non-financial assets and liabilities measured using nonrecurring fair value measurements at September 30, 2012 and 2011, respectively:

	Nonrecurring Fair Value Measurements							Total Gains (Losses)
	September 30, 2012							For the Three Months Ended		For the Nine Months Ended
	Level 1		Level 2		Level 3			September 30, 2012 (3)		September 30, 2012 (3)
REO (1)	$	—	$	19,524	$	—		$	3,548	$	(9,761	)
Lease liability (2)	—		—		(1,841		)	113		(168		)

(1) Balance represents REO at September 30, 2012 which have been impaired subsequent to foreclosure. Amounts are included in continuing operations. For the three months ended September 30, 2012, the $3.5 million gain represents recovery of the net realizable value (NRV) attributable to an improvement in state specific loss severities on properties held during the period which resulted in an increase to NRV. For the nine months ended September 30, 2012, the $9.8 million loss represents additional impairment write-downs attributable to higher expected loss severities on properties held during the period which resulted in a decrease to NRV.

(2) Amounts are included in discontinued operations. For the three and nine months ended September 30, 2012, the Company recorded a gain of $113 thousand and a loss of $168 thousand, respectively, resulting from changes in lease liabilities as a result of changes in our expected minimum future lease payments.

(3) Total gains (losses) reflect gains and losses from all nonrecurring measurements during the period.

	Non-recurring Fair Value Measurements							Total Gains (Losses)
	September 30, 2011							For the Three Months Ended			For the Nine Months Ended
	Level 1		Level 2		Level 3			September 30, 2011 (4)			September 30, 2011 (4)
REO (1)	$	—	$	8,993	$	—		$	(7,006	)	$	(11,992	)
Lease liability (2)	—		—		(2,244		)	(223		)	(525		)
Deferred charge (3)	—		—		12,195			(949		)	(949		)

(1) Balance represents REO at September 30, 2011 which have been impaired subsequent to foreclosure. Amounts are included in continuing operations. For the three and nine months ended September 30, 2011, the $7.0 million and $12.0 million loss, respectively, represent additional impairment write-downs during the period which resulted in a decrease to NRV.

(2) Amounts are included in discontinued operations. For the three and nine months ended September 30, 2011, the Company recorded $223 thousand and $525 thousand in losses, respectively, resulting from changes in lease liabilities as a result of changes in our expected minimum future lease payments.

(3) Amounts are included in continuing operations. For the three and nine months ended September 30, 2011, the Company recorded $949 thousand in income tax expense resulting from impairment write-downs based on changes in estimated cash flows and lives of the related mortgages retained in the securitized mortgage collateral.

(4) Total losses reflect gains and losses from all nonrecurring measurements during the period.

Real estate owned—REO consists of residential real estate acquired in satisfaction of loans. Upon foreclosure, REO is recorded at the estimated fair value of the residential real estate less estimated selling and holding costs, offset by expected contractual mortgage insurance proceeds to be received, if any. Subsequently, REO is adjusted to the lower of carrying value or estimated fair value less costs to sell. REOs which have been impaired subsequent to foreclosure are subject to nonrecurring fair value measurement and included in the nonrecurring fair value measurements tables. Estimated fair values of REO are generally based on observable market inputs, and considered Level 2 measurements at September 30, 2012.

Lease liability—In connection with the discontinuation of our non-conforming mortgage, warehouse lending and commercial operations, a significant amount of office space that was previously occupied is no longer being used by the Company. The Company has subleased a significant amount of this office space. The Company has recorded a liability, included within discontinued operations, representing the present value of the minimum lease payments over the remaining life of the lease, offset by the expected proceeds from sublet revenue related to this office space. This liability is based on present value techniques that incorporate the Company’s judgments about estimated sublet revenue and discount rates. Therefore, this liability is considered a Level 3 measurement at September 30, 2012.

Stock Options

9 Months Ended

Sep. 30, 2012

Stock Options

Stock Options

Note 3.—Stock Options

During the third quarter of 2012, the shareholders voted on and approved the amendment to the 2010 Omnibus Incentive Plan to increase the shares subject to the plan by 250,000 shares.

There were no options granted during the nine months ended September 30, 2012 or 2011, respectively.

The following table summarizes activity, pricing and other information for the Company’s stock options for the nine months ended September 30, 2012:

			Weighted-
			Average
	Number of		Exercise
	Shares		Price
Options outstanding at beginning of period	1,241,808		$	3.64
Options granted	—		—
Options exercised	(83,216	)	0.83
Options forfeited / cancelled	(55,442	)	12.96
Options outstanding at end of period	1,103,150		$	3.38
Options exercisable at end of period	889,489		$	3.53

As of September 30, 2012, there was approximately $353 thousand of total unrecognized compensation cost related to stock option compensation arrangements granted under the plan, net of estimated forfeitures. That cost is expected to be recognized over the remaining weighted average period of 1.13 years.

The following table summarizes activity, pricing and other information for the Company’s restricted stock units (RSU’s), also referred to as deferred stock units as the issuance of the stock is deferred until termination of service, for the nine months ended September 30, 2012:

		Weighted-
		Average
	Number of	Grant Date
	Shares	Fair Value
RSU’s outstanding at beginning of period	24,000	$	2.73
RSU’s granted	—	—
RSU’s exercised	—	—
RSU’s forfeited / cancelled	—	—
RSU’s outstanding at end of period	24,000	$	2.73

As of September 30, 2012, there was approximately $26 thousand of total unrecognized compensation cost related to the RSU compensation arrangements granted under the plan. That cost is expected to be recognized over a weighted average period of 1.18 years.

Summary of Business, Market Conditions, and Financial Statement Presentation (Details)	1 Months Ended	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2012	Jun. 30, 2012
Summary of Business, Market Conditions, and Financial Statement Presentation
Growth rate of US economy (as a percent)		2.00%	1.30%
Unemployment rates (as a percent)	7.80%

Fair Value of Financial Instruments (Details) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2012 Maximum	Sep. 30, 2012 Mortgage servicing rights	Sep. 30, 2012 Carrying Amount Securitized mortgage borrowings	Dec. 31, 2011 Carrying Amount Securitized mortgage borrowings	Sep. 30, 2012 Carrying Amount Derivative liabilities, securitized trusts	Dec. 31, 2011 Carrying Amount Derivative liabilities, securitized trusts	Sep. 30, 2012 Carrying Amount Derivative liabilities, lending	Dec. 31, 2011 Carrying Amount Derivative liabilities, lending	Sep. 30, 2012 Carrying Amount Long-term debt	Dec. 31, 2011 Carrying Amount Long-term debt	Sep. 30, 2012 Carrying Amount Warehouse borrowings	Dec. 31, 2011 Carrying Amount Warehouse borrowings	Sep. 30, 2012 Carrying Amount Notes payable	Dec. 31, 2011 Carrying Amount Notes payable	Sep. 30, 2012 Carrying Amount Line of credit	Dec. 31, 2011 Carrying Amount Line of credit	Sep. 30, 2012 Carrying Amount Put option	Sep. 30, 2012 Carrying Amount Cash and cash equivalents	Dec. 31, 2011 Carrying Amount Cash and cash equivalents	Sep. 30, 2012 Carrying Amount Restricted cash	Dec. 31, 2011 Carrying Amount Restricted cash	Sep. 30, 2012 Carrying Amount Investment securities available-for-sale	Dec. 31, 2011 Carrying Amount Investment securities available-for-sale	Sep. 30, 2012 Carrying Amount Securitized mortgage collateral	Dec. 31, 2011 Carrying Amount Securitized mortgage collateral	Sep. 30, 2012 Carrying Amount Derivative assets, securitized trusts	Dec. 31, 2011 Carrying Amount Derivative assets, securitized trusts	Sep. 30, 2012 Carrying Amount Derivative assets, lending	Dec. 31, 2011 Carrying Amount Derivative assets, lending	Sep. 30, 2012 Carrying Amount Mortgage servicing rights	Dec. 31, 2011 Carrying Amount Mortgage servicing rights	Sep. 30, 2012 Carrying Amount Mortgage loans held-for-sale	Dec. 31, 2011 Carrying Amount Mortgage loans held-for-sale	Sep. 30, 2012 Carrying Amount Call option	Dec. 31, 2011 Carrying Amount Call option	Sep. 30, 2012 Estimated Fair Value Securitized mortgage borrowings	Dec. 31, 2011 Estimated Fair Value Securitized mortgage borrowings	Sep. 30, 2012 Estimated Fair Value Derivative liabilities, securitized trusts	Dec. 31, 2011 Estimated Fair Value Derivative liabilities, securitized trusts	Sep. 30, 2012 Estimated Fair Value Derivative liabilities, lending	Dec. 31, 2011 Estimated Fair Value Derivative liabilities, lending	Sep. 30, 2012 Estimated Fair Value Long-term debt	Dec. 31, 2011 Estimated Fair Value Long-term debt	Sep. 30, 2012 Estimated Fair Value Warehouse borrowings	Dec. 31, 2011 Estimated Fair Value Warehouse borrowings	Sep. 30, 2012 Estimated Fair Value Notes payable	Dec. 31, 2011 Estimated Fair Value Notes payable	Sep. 30, 2012 Estimated Fair Value Line of credit	Dec. 31, 2011 Estimated Fair Value Line of credit	Sep. 30, 2012 Estimated Fair Value Put option	Sep. 30, 2012 Estimated Fair Value Cash and cash equivalents	Dec. 31, 2011 Estimated Fair Value Cash and cash equivalents	Sep. 30, 2012 Estimated Fair Value Restricted cash	Dec. 31, 2011 Estimated Fair Value Restricted cash	Sep. 30, 2012 Estimated Fair Value Investment securities available-for-sale	Dec. 31, 2011 Estimated Fair Value Investment securities available-for-sale	Sep. 30, 2012 Estimated Fair Value Securitized mortgage collateral	Dec. 31, 2011 Estimated Fair Value Securitized mortgage collateral	Sep. 30, 2012 Estimated Fair Value Derivative assets, securitized trusts	Dec. 31, 2011 Estimated Fair Value Derivative assets, securitized trusts	Sep. 30, 2012 Estimated Fair Value Derivative assets, lending	Dec. 31, 2011 Estimated Fair Value Derivative assets, lending	Sep. 30, 2012 Estimated Fair Value Mortgage servicing rights	Dec. 31, 2011 Estimated Fair Value Mortgage servicing rights	Sep. 30, 2012 Estimated Fair Value Mortgage loans held-for-sale	Dec. 31, 2011 Estimated Fair Value Mortgage loans held-for-sale	Sep. 30, 2012 Estimated Fair Value Call option	Dec. 31, 2011 Estimated Fair Value Call option
Assets
Assets fair value		$ 9,317																$ 8,031	$ 7,653	$ 2,601	$ 5,019	$ 112	$ 688	$ 5,738,150	$ 5,449,001	$ 37	$ 37	$ 9,409	$ 1,179	$ 9,317	$ 4,141	$ 145,346	$ 61,718	$ 73	$ 253																$ 8,031	$ 7,653	$ 2,601	$ 5,019	$ 112	$ 688	$ 5,738,150	$ 5,449,001	$ 37	$ 37	$ 9,409	$ 1,179	$ 9,317	$ 4,141	$ 145,346	$ 61,718	$ 73	$ 253
Liabilities
Liabilities fair value			$ 5,725,469	$ 5,454,901	$ 19,112	$ 24,786	$ 3,786	$ 624	$ 12,274	$ 11,561	$ 131,690	$ 58,691	$ 4,507	$ 5,182	$ 4,000	$ 4,000	$ 9																			$ 5,725,469	$ 5,454,901	$ 19,112	$ 24,786	$ 3,786	$ 624	$ 12,274	$ 11,561	$ 131,690	$ 58,691	$ 4,909	$ 5,941	$ 4,000	$ 4,000	$ 9
Notes Payable
Maturity period of notes payable	3 years

Fair Value of Financial Instruments (Details 2) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Level 3
Fair Value Measurements
Percentage of level three assets to total assets measured at fair value	97.00%	100.00%
Percentage of level three Liabilities to total Liabilities measured at fair value	99.00%	100.00%
Mortgage servicing rights
Assets
Total assets at fair value	$ 9,317
Recurring basis \| Level 2
Assets
Total assets at fair value	150,969	62,273
Recurring basis \| Level 3
Assets
Total assets at fair value	5,747,652	5,454,083
Liabilities
Total liabilities at fair value	5,756,827	5,491,211
Recurring basis \| Securitized mortgage borrowings \| Level 3
Liabilities
Total liabilities at fair value	5,725,469	5,454,901
Recurring basis \| Derivative liabilities, net, securitized trusts \| Level 3
Liabilities
Total liabilities at fair value	19,075	24,749
Derivative assets, net
Included within trust assets and trust liabilities	37	37
Recurring basis \| Long-term debt \| Level 3
Liabilities
Total liabilities at fair value	12,274	11,561
Recurring basis \| Put option \| Level 3
Liabilities
Total liabilities at fair value	9
Recurring basis \| Investment securities available-for-sale \| Level 3
Assets
Total assets at fair value	112	688
Recurring basis \| Mortgage loans held-for-sale \| Level 2
Assets
Total assets at fair value	145,346	61,718
Recurring basis \| Derivative assets, net, lending \| Level 2
Assets
Total assets at fair value	5,623	555
Recurring basis \| Derivative assets, net, lending \| Interest rate lock commitments (IRLCs) \| Level 2
Assets
Total assets at fair value	9,400
Recurring basis \| Derivative assets, net, lending \| Hedging Instruments \| Level 2
Assets
Total assets at fair value	3,800
Recurring basis \| Mortgage servicing rights \| Level 3
Assets
Total assets at fair value	9,317	4,141
Recurring basis \| Call option \| Level 3
Assets
Total assets at fair value	73	253
Recurring basis \| Securitized mortgage collateral \| Level 3
Assets
Total assets at fair value	$ 5,738,150	$ 5,449,001

Fair Value of Financial Instruments (Details 4) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2012
Securitized mortgage borrowings backed by real estate \| DCF \| Level 3
Valuation techniques
Estimated fair value of liabilities	$ (5,725,469)
Securitized mortgage borrowings backed by real estate \| Minimum \| DCF \| Level 3
Unobservable inputs
Default rates (as a percent)	0.79%
Loss severities (as a percent)	12.70%
Securitized mortgage borrowings backed by real estate \| Maximum \| DCF \| Level 3
Unobservable inputs
Default rates (as a percent)	10.20%
Loss severities (as a percent)	62.80%
Derivative liabilities, net, securitized trusts \| DCF \| Level 3
Valuation techniques
Estimated fair value of liabilities	(19,075)
Derivative liabilities, net, securitized trusts \| Minimum \| DCF \| Level 3
Unobservable inputs
Variable rate basis	1M forward LIBOR
Variable rate (as a percent)	0.21%
Derivative liabilities, net, securitized trusts \| Maximum \| DCF \| Level 3
Unobservable inputs
Variable rate basis	1M forward LIBOR
Variable rate (as a percent)	3.52%
Long-term debt \| DCF \| Level 3
Valuation techniques
Estimated fair value of liabilities	(12,274)
Unobservable inputs
Discount rates (as a percent)	25.00%
Lease Liability \| DCF \| Level 3
Valuation techniques
Estimated fair value of liabilities	(1,841)
Unobservable inputs
Discount rates (as a percent)	12.00%
Investment securities available-for-sale backed by real estate \| DCF \| Level 3
Valuation techniques
Estimated fair value of assets	112
Investment securities available-for-sale backed by real estate \| Minimum \| DCF \| Level 3
Unobservable inputs
Discount rates (as a percent)	3.72%
Investment securities available-for-sale backed by real estate \| Maximum \| DCF \| Level 3
Unobservable inputs
Discount rates (as a percent)	30.00%
Securitized mortgage collateral backed by real estate \| DCF \| Level 3
Valuation techniques
Estimated fair value of assets	5,738,150
Securitized mortgage collateral backed by real estate \| Minimum \| DCF \| Level 3
Unobservable inputs
Prepayment rates (as a percent)	0.82%
Securitized mortgage collateral backed by real estate \| Maximum \| DCF \| Level 3
Unobservable inputs
Prepayment rates (as a percent)	10.60%
Mortgage servicing rights
Valuation techniques
Estimated fair value of assets	9,317
Mortgage servicing rights \| DCF \| Level 3
Valuation techniques
Estimated fair value of assets	$ 9,317
Unobservable inputs
Discount rates (as a percent)	12.00%
Mortgage servicing rights \| Minimum \| DCF \| Level 3
Unobservable inputs
Prepayment rates (as a percent)	4.09%
Mortgage servicing rights \| Maximum \| DCF \| Level 3
Unobservable inputs
Prepayment rates (as a percent)	15.40%

Fair Value of Financial Instruments (Details 6) (USD $)	3 Months Ended		9 Months Ended			1 Months Ended	9 Months Ended	12 Months Ended	3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended	9 Months Ended		3 Months Ended	9 Months Ended		3 Months Ended	9 Months Ended		3 Months Ended	9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended
Fair Value of Financial Instruments (Details 6) (USD $)	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011	Jun. 30, 2012 AmeriHome	Sep. 30, 2012 AmeriHome	Dec. 31, 2011 AmeriHome	Sep. 30, 2012 Recurring Fair Value Measurements	Sep. 30, 2011 Recurring Fair Value Measurements	Sep. 30, 2012 Recurring Fair Value Measurements	Sep. 30, 2011 Recurring Fair Value Measurements	Sep. 30, 2012 Recurring Fair Value Measurements Interest income	Sep. 30, 2011 Recurring Fair Value Measurements Interest income	Sep. 30, 2012 Recurring Fair Value Measurements Interest income	Sep. 30, 2011 Recurring Fair Value Measurements Interest income	Sep. 30, 2012 Recurring Fair Value Measurements Interest expense	Sep. 30, 2011 Recurring Fair Value Measurements Interest expense	Sep. 30, 2012 Recurring Fair Value Measurements Interest expense	Sep. 30, 2011 Recurring Fair Value Measurements Interest expense	Sep. 30, 2012 Recurring Fair Value Measurements Change in Fair Value of Net Trust Assets	Sep. 30, 2011 Recurring Fair Value Measurements Change in Fair Value of Net Trust Assets	Sep. 30, 2012 Recurring Fair Value Measurements Change in Fair Value of Net Trust Assets	Sep. 30, 2011 Recurring Fair Value Measurements Change in Fair Value of Net Trust Assets	Sep. 30, 2012 Recurring Fair Value Measurements Change in Fair Value of Long-term Debt	Sep. 30, 2011 Recurring Fair Value Measurements Change in Fair Value of Long-term Debt	Sep. 30, 2012 Recurring Fair Value Measurements Change in Fair Value of Long-term Debt	Sep. 30, 2011 Recurring Fair Value Measurements Change in Fair Value of Long-term Debt	Sep. 30, 2012 Recurring Fair Value Measurements Other Non-interest Income	Sep. 30, 2011 Recurring Fair Value Measurements Other Non-interest Income	Sep. 30, 2012 Recurring Fair Value Measurements Other Non-interest Income	Sep. 30, 2011 Recurring Fair Value Measurements Other Non-interest Income	Sep. 30, 2012 Recurring Fair Value Measurements Mortgage lending gains and fees, net	Sep. 30, 2011 Recurring Fair Value Measurements Mortgage lending gains and fees, net	Sep. 30, 2012 Recurring Fair Value Measurements Mortgage lending gains and fees, net	Sep. 30, 2011 Recurring Fair Value Measurements Mortgage lending gains and fees, net	Sep. 30, 2012 Recurring Fair Value Measurements Securitized mortgage borrowings	Sep. 30, 2011 Recurring Fair Value Measurements Securitized mortgage borrowings	Sep. 30, 2012 Recurring Fair Value Measurements Securitized mortgage borrowings	Sep. 30, 2011 Recurring Fair Value Measurements Securitized mortgage borrowings	Sep. 30, 2012 Recurring Fair Value Measurements Securitized mortgage borrowings Interest expense	Sep. 30, 2011 Recurring Fair Value Measurements Securitized mortgage borrowings Interest expense	Sep. 30, 2012 Recurring Fair Value Measurements Securitized mortgage borrowings Interest expense	Sep. 30, 2011 Recurring Fair Value Measurements Securitized mortgage borrowings Interest expense	Sep. 30, 2012 Recurring Fair Value Measurements Securitized mortgage borrowings Change in Fair Value of Net Trust Assets	Sep. 30, 2011 Recurring Fair Value Measurements Securitized mortgage borrowings Change in Fair Value of Net Trust Assets	Sep. 30, 2012 Recurring Fair Value Measurements Securitized mortgage borrowings Change in Fair Value of Net Trust Assets	Sep. 30, 2011 Recurring Fair Value Measurements Securitized mortgage borrowings Change in Fair Value of Net Trust Assets	Sep. 30, 2012 Recurring Fair Value Measurements Derivative liabilities, net	Sep. 30, 2011 Recurring Fair Value Measurements Derivative liabilities, net	Sep. 30, 2012 Recurring Fair Value Measurements Derivative liabilities, net	Sep. 30, 2011 Recurring Fair Value Measurements Derivative liabilities, net	Sep. 30, 2012 Recurring Fair Value Measurements Derivative liabilities, net Change in Fair Value of Net Trust Assets	Sep. 30, 2011 Recurring Fair Value Measurements Derivative liabilities, net Change in Fair Value of Net Trust Assets	Sep. 30, 2012 Recurring Fair Value Measurements Derivative liabilities, net Change in Fair Value of Net Trust Assets	Sep. 30, 2011 Recurring Fair Value Measurements Derivative liabilities, net Change in Fair Value of Net Trust Assets	Sep. 30, 2012 Recurring Fair Value Measurements Derivative liabilities, net Hedging Instruments	Sep. 30, 2011 Recurring Fair Value Measurements Derivative liabilities, net Hedging Instruments	Sep. 30, 2012 Recurring Fair Value Measurements Derivative liabilities, net Hedging Instruments	Sep. 30, 2011 Recurring Fair Value Measurements Derivative liabilities, net Hedging Instruments	Sep. 30, 2012 Recurring Fair Value Measurements Derivative liabilities, net Hedging Instruments Mortgage lending gains and fees, net	Sep. 30, 2011 Recurring Fair Value Measurements Derivative liabilities, net Hedging Instruments Mortgage lending gains and fees, net	Sep. 30, 2012 Recurring Fair Value Measurements Derivative liabilities, net Hedging Instruments Mortgage lending gains and fees, net	Sep. 30, 2011 Recurring Fair Value Measurements Derivative liabilities, net Hedging Instruments Mortgage lending gains and fees, net	Sep. 30, 2012 Recurring Fair Value Measurements Long-term debt	Sep. 30, 2011 Recurring Fair Value Measurements Long-term debt	Sep. 30, 2012 Recurring Fair Value Measurements Long-term debt	Sep. 30, 2011 Recurring Fair Value Measurements Long-term debt	Sep. 30, 2012 Recurring Fair Value Measurements Long-term debt Interest expense	Sep. 30, 2011 Recurring Fair Value Measurements Long-term debt Interest expense	Sep. 30, 2012 Recurring Fair Value Measurements Long-term debt Interest expense	Sep. 30, 2011 Recurring Fair Value Measurements Long-term debt Interest expense	Sep. 30, 2012 Recurring Fair Value Measurements Long-term debt Change in Fair Value of Long-term Debt	Sep. 30, 2011 Recurring Fair Value Measurements Long-term debt Change in Fair Value of Long-term Debt	Sep. 30, 2012 Recurring Fair Value Measurements Long-term debt Change in Fair Value of Long-term Debt	Sep. 30, 2011 Recurring Fair Value Measurements Long-term debt Change in Fair Value of Long-term Debt	Sep. 30, 2012 Recurring Fair Value Measurements Investment securities available-for-sale	Sep. 30, 2011 Recurring Fair Value Measurements Investment securities available-for-sale	Sep. 30, 2012 Recurring Fair Value Measurements Investment securities available-for-sale	Sep. 30, 2011 Recurring Fair Value Measurements Investment securities available-for-sale	Sep. 30, 2012 Recurring Fair Value Measurements Investment securities available-for-sale Interest income	Sep. 30, 2011 Recurring Fair Value Measurements Investment securities available-for-sale Interest income	Sep. 30, 2012 Recurring Fair Value Measurements Investment securities available-for-sale Interest income	Sep. 30, 2011 Recurring Fair Value Measurements Investment securities available-for-sale Interest income	Sep. 30, 2012 Recurring Fair Value Measurements Investment securities available-for-sale Change in Fair Value of Net Trust Assets	Sep. 30, 2011 Recurring Fair Value Measurements Investment securities available-for-sale Change in Fair Value of Net Trust Assets	Sep. 30, 2012 Recurring Fair Value Measurements Investment securities available-for-sale Change in Fair Value of Net Trust Assets	Sep. 30, 2011 Recurring Fair Value Measurements Investment securities available-for-sale Change in Fair Value of Net Trust Assets	Sep. 30, 2012 Recurring Fair Value Measurements Securitized mortgage collateral	Sep. 30, 2011 Recurring Fair Value Measurements Securitized mortgage collateral	Sep. 30, 2012 Recurring Fair Value Measurements Securitized mortgage collateral	Sep. 30, 2011 Recurring Fair Value Measurements Securitized mortgage collateral	Sep. 30, 2012 Recurring Fair Value Measurements Securitized mortgage collateral Interest income	Sep. 30, 2011 Recurring Fair Value Measurements Securitized mortgage collateral Interest income	Sep. 30, 2012 Recurring Fair Value Measurements Securitized mortgage collateral Interest income	Sep. 30, 2011 Recurring Fair Value Measurements Securitized mortgage collateral Interest income	Sep. 30, 2012 Recurring Fair Value Measurements Securitized mortgage collateral Change in Fair Value of Net Trust Assets	Sep. 30, 2011 Recurring Fair Value Measurements Securitized mortgage collateral Change in Fair Value of Net Trust Assets	Sep. 30, 2012 Recurring Fair Value Measurements Securitized mortgage collateral Change in Fair Value of Net Trust Assets	Sep. 30, 2011 Recurring Fair Value Measurements Securitized mortgage collateral Change in Fair Value of Net Trust Assets	Sep. 30, 2012 Recurring Fair Value Measurements Mortgage servicing rights	Sep. 30, 2011 Recurring Fair Value Measurements Mortgage servicing rights	Sep. 30, 2012 Recurring Fair Value Measurements Mortgage servicing rights	Sep. 30, 2011 Recurring Fair Value Measurements Mortgage servicing rights	Sep. 30, 2012 Recurring Fair Value Measurements Mortgage servicing rights Other Non-interest Income	Sep. 30, 2011 Recurring Fair Value Measurements Mortgage servicing rights Other Non-interest Income	Sep. 30, 2012 Recurring Fair Value Measurements Mortgage servicing rights Other Non-interest Income	Sep. 30, 2011 Recurring Fair Value Measurements Mortgage servicing rights Other Non-interest Income	Sep. 30, 2011 Recurring Fair Value Measurements Call option	Sep. 30, 2012 Recurring Fair Value Measurements Call option	Sep. 30, 2011 Recurring Fair Value Measurements Call option	Sep. 30, 2011 Recurring Fair Value Measurements Call option Other Non-interest Income	Sep. 30, 2012 Recurring Fair Value Measurements Call option Other Non-interest Income	Sep. 30, 2011 Recurring Fair Value Measurements Call option Other Non-interest Income	Sep. 30, 2011 Recurring Fair Value Measurements Put option	Sep. 30, 2012 Recurring Fair Value Measurements Put option	Sep. 30, 2011 Recurring Fair Value Measurements Put option	Sep. 30, 2011 Recurring Fair Value Measurements Put option Other Non-interest Income	Sep. 30, 2012 Recurring Fair Value Measurements Put option Other Non-interest Income	Sep. 30, 2011 Recurring Fair Value Measurements Put option Other Non-interest Income	Sep. 30, 2012 Recurring Fair Value Measurements Derivative assets, net IRLCs	Sep. 30, 2011 Recurring Fair Value Measurements Derivative assets, net IRLCs	Sep. 30, 2012 Recurring Fair Value Measurements Derivative assets, net IRLCs	Sep. 30, 2011 Recurring Fair Value Measurements Derivative assets, net IRLCs	Sep. 30, 2012 Recurring Fair Value Measurements Derivative assets, net IRLCs Mortgage lending gains and fees, net	Sep. 30, 2011 Recurring Fair Value Measurements Derivative assets, net IRLCs Mortgage lending gains and fees, net	Sep. 30, 2012 Recurring Fair Value Measurements Derivative assets, net IRLCs Mortgage lending gains and fees, net	Sep. 30, 2011 Recurring Fair Value Measurements Derivative assets, net IRLCs Mortgage lending gains and fees, net	Sep. 30, 2012 Recurring Fair Value Measurements Mortgage loans held-for-sale	Sep. 30, 2011 Recurring Fair Value Measurements Mortgage loans held-for-sale	Sep. 30, 2012 Recurring Fair Value Measurements Mortgage loans held-for-sale	Sep. 30, 2011 Recurring Fair Value Measurements Mortgage loans held-for-sale	Sep. 30, 2012 Recurring Fair Value Measurements Mortgage loans held-for-sale Mortgage lending gains and fees, net	Sep. 30, 2011 Recurring Fair Value Measurements Mortgage loans held-for-sale Mortgage lending gains and fees, net	Sep. 30, 2012 Recurring Fair Value Measurements Mortgage loans held-for-sale Mortgage lending gains and fees, net	Sep. 30, 2011 Recurring Fair Value Measurements Mortgage loans held-for-sale Mortgage lending gains and fees, net	Sep. 30, 2012 Recurring Fair Value Measurements Level 3 Securitized mortgage borrowings	Sep. 30, 2012 Recurring Fair Value Measurements Level 3 Long-term debt	Sep. 30, 2012 Recurring Fair Value Measurements Level 3 Securitized mortgage collateral	Sep. 30, 2012 Recurring Fair Value Measurements Level 3 Derivative assets, net
Change in Fair Value Included in Net Earnings (Loss)
Change in fair value of assets																																																																													$ 22,000	$ 47,000	$ (409,000)	$ (40,000)	$ 7,000	$ 30,000	$ 30,000	$ 88,000	$ 15,000	$ 17,000	$ (439,000)	$ (128,000)	$ 499,875,000	$ (19,295,000)	$ 822,996,000	$ 36,282,000	$ 32,452,000	$ 73,164,000	$ 124,292,000	$ 276,009,000	$ 467,423,000	$ (92,459,000)	$ 698,704,000	$ (239,727,000)	$ (494,000)	$ 140,000	$ (869,000)	$ 106,000	$ (494,000)	$ 140,000	$ (869,000)	$ 106,000	$ (202,000)	$ (180,000)	$ (454,000)	$ (202,000)	$ (180,000)	$ (454,000)		$ (9,000)			$ (9,000)		$ 4,950,000	$ 1,064,000	$ 8,231,000	$ 1,358,000	$ 4,950,000	$ 1,064,000	$ 8,231,000	$ 1,358,000	$ 4,220,000	$ 457,000	$ 7,048,000	$ 1,272,000	$ 4,220,000	$ 457,000	$ 7,048,000	$ 1,272,000
Change in fair value of liabilities																																					(567,899,000)	(45,458,000)	(1,012,910,000)	(259,676,000)	(95,316,000)	(152,229,000)	(322,931,000)	(525,430,000)	472,583,000	106,771,000	(689,979,000)	265,754,000	(853,000)	(4,032,000)	(2,724,000)	(8,303,000)	(853,000)	(4,032,000)	(2,724,000)	(8,303,000)	(2,234,000)	(796,000)	(3,163,000)	(923,000)	(2,234,000)	(796,000)	(3,163,000)	(923,000)	(322,000)	815,000	(713,000)	395,000	(512,000)	(644,000)	(1,585,000)	(1,707,000)	190,000	1,459,000	872,000	2,102,000																																							8,000		46,000	8,000		46,000
Total									(62,735,000)	(67,252,000)	(182,702,000)	(229,937,000)	32,459,000	73,194,000	124,322,000	276,097,000	(95,828,000)	(152,873,000)	(324,516,000)	(527,137,000)	(5,998,000)	10,297,000	5,562,000	17,596,000	190,000	1,459,000	872,000	2,102,000	(494,000)	(54,000)	(1,058,000)	(302,000)	6,936,000	725,000	12,116,000	1,707,000
Changes in the fair value of derivative instruments																																																					1,300,000	7,400,000	5,800,000	35,800,000
Cash payments from the securitization trusts																																																					2,200,000	11,400,000	8,500,000	44,100,000
Change in the fair value of trust assets, excluding REO	(5,998,000)	10,297,000	5,562,000	17,596,000																			5,600,000	17,600,000
Change in fair value of net trust assets, excluding REO			14,032,000	61,693,000																			14,100,000	61,700,000
Percentage of ownership interest in acquiree for which option to purchase is available in purchase agreement							11.50%	39.00%
Ownership interest agreed to be acquired (as a percent)						27.50%
Ownership interest (as a percent)							78.50%
Percentage of ownership interest in acquire that can be sold by noncontrolling interest holder to company							21.50%	49.00%
Ownership interest held by noncontrolling interest (as a percent)							21.50%
Securitized mortgage collateral
Unpaid principal balance of securitized mortgage collateral																																																																																																																																											8,700,000,000
Estimated fair value of securitized mortgage collateral	5,738,150,000		5,738,150,000		5,449,001,000																																																																																																																																						5,700,000,000
Difference between aggregate unpaid principal balance and fair value of securitized mortgage collateral																																																																																																																																											3,000,000,000
Unpaid principal balance of loans 90 days or more past due																																																																																																																																											1,700,000,000
Estimated fair value of loans 90 days or more past due																																																																																																																																											600,000,000
Difference between aggregate unpaid principal balances and fair value of mortgage loans																																																																																																																																											1,100,000,000
Securitized mortgage borrowings
Estimated fair value of securitized mortgage borrowings	5,725,469,000		5,725,469,000		5,454,901,000																																																																																																																																				8,700,000,000
Outstanding principal balance of securitized mortgage borrowings																																																																																																																																									5,700,000,000
Difference between aggregate unpaid principal balances and fair value of securitized mortgage borrowings																																																																																																																																									3,000,000,000
Long-term debt
Long-term debt unpaid principal balance																																																																																																																																										70,500,000
Estimated fair value of long-term debt																																																																																																																																										12,300,000
Difference between aggregate unpaid principal balances and fair value of long-term debt																																																																																																																																										58,200,000
Derivative assets and liabilities
Notional balance of derivative assets and liabilities, securitized trusts																																																																																																																																												$ 911,700,000

Fair Value of Financial Instruments (Details 7) (USD $) In Thousands, unless otherwise specified	3 Months Ended	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2012
Derivative liabilities \| TBA/FNMA's
Derivative assets and liabilities - lending
Derivative liabilities, Notional balance	$ 310,207	$ 310,207
Total Gains (Losses)	(8,553)	(15,883)
Derivative assets \| IRLCs
Derivative assets and liabilities - lending
Derivative assets, Notional balance	383,776	383,776
Total Gains (Losses)	$ 4,950	$ 8,231

Stock Options (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2012 Stock options	Sep. 30, 2012 Restricted stock units (RSU's)
Stock Options
Increase in shares under amendment to the 2010 Omnibus Incentive Plan	250,000
Number of Shares
Options outstanding at the beginning of the period (in shares)		1,241,808
Options exercised (in shares)		(83,216)
Options forfeited / cancelled (in shares)		(55,442)
Options outstanding at the end of the period (in shares)		1,103,150
Options exercisable at the end of the period (in shares)		889,489
Weighted-Average Exercise Price
Options outstanding at the beginning of the period (in dollars per share)		$ 3.64
Options exercised (in dollars per share)		$ 0.83
Options forfeited / cancelled (in dollars per share)		$ 12.96
Options outstanding at the end of the period (in dollars per share)		$ 3.38
Options exercisable at end of the period (in dollars per share)		$ 3.53
Number of Shares
RSU's outstanding at the beginning of the period (in shares)			24,000
RSU's outstanding at the end of the period (in shares)			24,000
Weighted-Average Grant Date Fair Value
RSU's outstanding at the beginning of the period (in dollars per share)			$ 2.73
RSU's outstanding at the end of the period (in dollars per share)			$ 2.73
Additional information:
Unrecognized compensation cost		$ 353	$ 26
Weighted-average period over which compensation cost is expected to be recognized		1 year 1 month 17 days	1 year 2 months 5 days

Segment Reporting (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012 segment	Sep. 30, 2011	Dec. 31, 2011
Segment Reporting
Number of reporting segments			4
Segment Reporting
Net interest income (expense)	$ 297	$ 282	$ 1,874	$ 2,845
Non-interest (loss) income- net trust assets	(2,450)	3,430	(4,199)	5,741
Mortgage lending gains and fees, net	24,324	4,574	48,587	7,670
Real estate services fees, net	5,776	13,272	16,815	36,820
Other non-interest income (expense)	617	2,939	1,353	3,307
Non-interest expense and income taxes	(21,610)	(20,061)	(53,202)	(52,726)
Earnings from continuing operations	6,954	4,436	11,228	3,657
Loss from discontinued operations, net of tax	(9,021)	(1,490)	(13,402)	(1,832)
Net (loss) earnings	(2,067)	2,946	(2,174)	1,825
Total assets	5,967,074		5,967,074		5,612,040
Discontinued Operations
Segment Reporting
Net interest income (expense)	7		7
Other non-interest income (expense)	(1,767)	(989)	(4,647)	(774)
Non-interest expense and income taxes	(7,261)	(501)	(8,762)	(1,058)
Loss from discontinued operations, net of tax	(9,021)	(1,490)	(13,402)	(1,832)
Total assets	125		125		264
Long-term Portfolio
Segment Reporting
Net interest income (expense)	455	350	2,108	2,863
Non-interest (loss) income- net trust assets	(2,450)	3,430	(4,199)	5,741
Other non-interest income (expense)	704	1,353	1,668	1,922
Non-interest expense and income taxes	(3,496)	(4,970)	(11,191)	(13,163)
Earnings from continuing operations	(4,787)	163	(11,614)	(2,637)
Total assets	5,790,182		5,790,182		5,528,998
Mortgage Lending
Segment Reporting
Net interest income (expense)	(164)	(72)	(256)	(30)
Mortgage lending gains and fees, net	24,324	4,574	48,587	7,670
Other non-interest income (expense)	(87)	(194)	(315)	(395)
Non-interest expense and income taxes	(15,917)	(7,333)	(35,736)	(16,513)
Earnings from continuing operations	8,156	(3,025)	12,280	(9,268)
Total assets	162,779		162,779		67,818
Real Estate Services
Segment Reporting
Net interest income (expense)	6	4	22	12
Real estate services fees, net	5,776	13,272	16,815	36,820
Other non-interest income (expense)		1,780		1,780
Non-interest expense and income taxes	(2,197)	(7,758)	(6,275)	(23,050)
Earnings from continuing operations	3,585	7,298	10,562	15,562
Total assets	13,988		13,988		14,992
Reclassifications
Segment Reporting
Net interest income (expense)	(7)		(7)
Other non-interest income (expense)	1,767	989	4,647	774
Non-interest expense and income taxes	7,261	501	8,762	1,058
Total assets					$ (32)

Warehouse Borrowings (Details) (USD $)												9 Months Ended
Warehouse Borrowings (Details) (USD $)	Sep. 30, 2012 Warehouse borrowings	Dec. 31, 2011 Warehouse borrowings	Oct. 31, 2012 Warehouse borrowings Subsequent events	Sep. 30, 2012 Repurchase agreement 1	Dec. 31, 2011 Repurchase agreement 1	Oct. 31, 2012 Repurchase agreement 1 Subsequent events	Sep. 30, 2012 Repurchase agreement 2	Dec. 31, 2011 Repurchase agreement 2	Sep. 30, 2012 Repurchase agreement 3	Dec. 31, 2011 Repurchase agreement 3	Sep. 30, 2012 Repurchase agreement 4	Sep. 30, 2012 Repurchase agreement 5
Warehouse Borrowings
Variable interest rate base												one-month LIBOR
Interest margin over base rate (as a percent)												3.50%
Maximum Borrowing Capacity	$ 185,000,000			$ 40,000,000		$ 47,500,000	$ 30,000,000		$ 50,000,000		$ 25,000,000	$ 40,000,000
Balance Outstanding	131,690,000	58,691,000		35,612,000	20,163,000		27,436,000	24,769,000	50,137,000	13,759,000	6,003,000	12,502,000
Aggregate principal borrowing capacity before amendment			$ 40,000,000

Notes Payable (Details) (USD $)	1 Months Ended	9 Months Ended
Notes Payable (Details) (USD $)	Feb. 29, 2012 interest	Sep. 30, 2012	Dec. 31, 2011
Note payable-Debt Agreement
Carrying value of debt agreement		$ 4,507,000	$ 5,182,000
Previous debt agreement
Note payable-Debt Agreement
Repayment of the previous debt by using proceeds of new debt	408,000
Structured debt agreement
Note payable-Debt Agreement
Debt issued	7,500,000
Number of residual interests used as collateral for structured debt facility	8
Proceeds from issuance of debt, net of payoff and transaction costs	7,000,000
Transaction costs incurred	50,000
Fixed interest rate (as a percent)		25.00%
Period of amortization in equal principal payments		18 months
Threshold amount of reserve account, if in excess, entity would receive a specified percentage of excess cash flows up to a maximum dollar amount		1,500,000
Percentage of excess cash flows exceeding specified balance of reserve account to be received		70.00%
Maximum monthly amount of excess cash flows from residual interests that will be received if the reserve threshold is met		300,000
Excess cash flows from residual interests collateralizing note payable		1,500,000
Carrying value of debt agreement		$ 4,500,000	$ 5,182,000

Line of Credit Agreement (Details) (Working capital line of credit agreement, USD $)	9 Months Ended
	Sep. 30, 2012	Apr. 30, 2012
Working capital line of credit agreement
Line of Credit Agreement
Maximum borrowing capacity		$ 4,000,000
Variable interest rate base	one-month LIBOR
Interest margin over base rate (as a percent)	3.50%
Outstanding balance	$ 4,000,000

Commitments and Contingencies (Details) (USD $)	3 Months Ended				1 Months Ended	9 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
Commitments and Contingencies (Details) (USD $)	Sep. 30, 2012 item	Dec. 31, 2011	Aug. 03, 2012 Deutsche Zentral, dba DZ , JPMorgan Chase & Co and DG Holding Trust item	Dec. 07, 2011 Curtis J. Timm item	Aug. 31, 2012 Citigroup Global Markets, Inc	Sep. 30, 2012 Citigroup Global Markets, Inc	Sep. 30, 2012 Gilmor	Sep. 30, 2012 Gilmor	Dec. 31, 2010 Unfavorable significant judgment	Sep. 30, 2012 Unfavorable significant judgment	May 12, 2012 Unfavorable significant judgment item
Commitments and Contingencies
Accrued liability recorded for estimated loss exposure										$ 6,100,000
Number of other cases consolidated			2
Number of quarterly payments of dividends sought for Preferred holders				2
Number of directors elected by Preferred holders				2
Period of correctly amended document from filing with SEC									42 days
Number of incorrect documents											1
Plaintiff's demand					4,000,000		30,000,000
Settlement amount						3,100,000	3,000,000	3,000,000
Legal settlement charge	6,100,000					3,100,000		3,000,000
Period of lawsuit matter								12 years
Legal costs								475,000
Estimated losses in number of cases	2
Repurchase Reserve Discontinued Operations
Additional provision	1,800,000
Repurchase reserve	$ 8,000,000	$ 5,200,000

Noncontrolling Interest (Details) (AmeriHome)	1 Months Ended	9 Months Ended	12 Months Ended
Noncontrolling Interest (Details) (AmeriHome)	Jun. 30, 2012	Sep. 30, 2012	Dec. 31, 2011
AmeriHome
Noncontrolling interest
Ownership interest agreed to be acquired (as a percent)	27.50%
Ownership interest (as a percent)		78.50%
Percentage of ownership interest in acquiree for which option to purchase is available in purchase agreement		11.50%	39.00%
Ownership interest held by noncontrolling interest (as a percent)		21.50%
Percentage of ownership interest in acquire that can be sold by noncontrolling interest holder to company		21.50%	49.00%

Subsequent Events (Details) (Repurchase agreement 1, USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Oct. 31, 2012 Subsequent Event
Subsequent events
Maximum Borrowing Capacity	$ 40,000	$ 47,500