2013 Q1 Form 10-Q Financial Statement

#000119312513213542 Filed on May 10, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $107.8M $39.98M
YoY Change 169.71% 544.45%
Cost Of Revenue $53.70M $16.90M
YoY Change 217.75% 267.39%
Gross Profit $65.40M $29.70M
YoY Change 120.2% 133.86%
Gross Profit Margin 60.66% 74.3%
Selling, General & Admin $4.500M $3.500M
YoY Change 28.57% 2.94%
% of Gross Profit 6.88% 11.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $51.88M $22.07M
YoY Change 135.03% 145.35%
Operating Profit $13.52M $7.626M
YoY Change 77.28% 105.94%
Interest Expense $11.24M $6.674M
YoY Change 68.35% 192.98%
% of Operating Profit 83.11% 87.52%
Other Income/Expense, Net $4.946M $791.0K
YoY Change 525.28% -25.45%
Pretax Income $55.94M $24.58M
YoY Change 127.61% 196.58%
Income Tax $2.639M $5.517M
% Of Pretax Income 4.72% 22.45%
Net Earnings $53.30M $19.06M
YoY Change 179.65% 149.29%
Net Earnings / Revenue 49.43% 47.67%
Basic Earnings Per Share $0.90 $0.65
Diluted Earnings Per Share $0.90 $0.65
COMMON SHARES
Basic Shares Outstanding 58.93M shares 29.08M shares
Diluted Shares Outstanding 59.32M shares 29.36M shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.00M $16.00M
YoY Change 18.75% 45.45%
Cash & Equivalents $16.41M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $3.000M $2.000M
Other Receivables $38.00M $28.00M
Total Short-Term Assets $60.00M $46.00M
YoY Change 30.43% 4.55%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.716B $1.184B
YoY Change 129.39% 58.29%
Other Assets
YoY Change
Total Long-Term Assets $2.867B $1.332B
YoY Change 115.25% 67.23%
TOTAL ASSETS
Total Short-Term Assets $60.00M $46.00M
Total Long-Term Assets $2.867B $1.332B
Total Assets $2.927B $1.378B
YoY Change 112.42% 63.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.00M $17.00M
YoY Change -11.76% 112.5%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.615B $501.0M
YoY Change 222.36% 62.66%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.681B $528.0M
YoY Change 218.37% 67.62%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $8.000M $243.0M
YoY Change -96.71%
Total Long-Term Liabilities $8.000M $243.0M
YoY Change -96.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.681B $528.0M
Total Long-Term Liabilities $8.000M $243.0M
Total Liabilities $1.705B $782.1M
YoY Change 117.98% 141.55%
SHAREHOLDERS EQUITY
Retained Earnings $90.61M
YoY Change
Common Stock $1.132B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.222B $596.0M
YoY Change
Total Liabilities & Shareholders Equity $2.927B $1.378B
YoY Change 112.42% 63.95%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $53.30M $19.06M
YoY Change 179.65% 149.29%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$225.1M $47.90M
YoY Change -569.94% -271.68%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$114.5M $109.5M
YoY Change -204.57% -144.19%
Cash From Investing Activities -$114.5M $109.5M
YoY Change -204.57% -144.19%
FINANCING ACTIVITIES
Cash Dividend Paid $33.58M $15.69M
YoY Change 113.98% 121.95%
Common Stock Issuance & Retirement, Net $45.69M
YoY Change -72.11%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 325.3M -155.6M
YoY Change -309.06% -164.54%
NET CHANGE
Cash From Operating Activities -225.1M 47.90M
Cash From Investing Activities -114.5M 109.5M
Cash From Financing Activities 325.3M -155.6M
Net Change In Cash -14.30M 1.800M
YoY Change -894.44% -105.2%
FREE CASH FLOW
Cash From Operating Activities -$225.1M $47.90M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2012Q4 pmt Mortgage Servicing Rights At Fair Value
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CY2012Q4 pmt Servicing Asset At Lower Of Amortized Cost Or Fair Value
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CY2012Q4 pmt Percentage Of Mortgage Loan Portfolio
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CY2012Q4 pmt Deferred Income Taxes And Taxes Payable
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CY2012Q4 pmt States Contributing Five Percentage Of Mortgage Loans
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New York Florida New Jersey
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CY2012Q4 pmt Derivative And Financial Liabilities Offset Amount
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CY2012Q4 pmt Derivative And Financial Liabilities Cash Collateral Offset Amount
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CY2012Q4 pmt Amortized Cost Unpaid Principal Balance Of Underlying Loans
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CY2013Q1 dei Document Type
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
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CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
63117000
CY2013Q1 us-gaap Derivative Instruments Gain Recognized In Income
DerivativeInstrumentsGainRecognizedInIncome
10900000
CY2013Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-13214000
CY2013Q1 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
107000
CY2013Q1 us-gaap Payments To Purchase Mortgage Loans Held For Sale
PaymentsToPurchaseMortgageLoansHeldForSale
8849152000
CY2013Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2639000
CY2013Q1 us-gaap Loan Portfolio Expense
LoanPortfolioExpense
8090000
CY2013Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
33577000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
2784 shares
CY2013Q1 us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
LateFeeIncomeGeneratedByServicingFinancialAssetsAmount
CY2013Q1 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
2532000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
shares
CY2013Q1 us-gaap Performance Fees
PerformanceFees
100
CY2013Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-20142000
CY2013Q1 us-gaap Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss Included In Investment Income
FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLossIncludedInInvestmentIncome
61593000
CY2013Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 Segment
CY2013Q1 us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
CY2013Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
61421000
CY2013Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
78000
CY2013Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
52778000
CY2013Q1 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
518000
CY2013Q1 us-gaap Increase Decrease In Margin Deposits Outstanding
IncreaseDecreaseInMarginDepositsOutstanding
1493000
CY2013Q1 us-gaap Professional Fees
ProfessionalFees
2384000
CY2013Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
55935000
CY2013Q1 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
31849000
CY2013Q1 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
MortgageServicingRightsMSRImpairmentRecovery
4539000
CY2013Q1 us-gaap Interest Income Operating
InterestIncomeOperating
16875000
CY2013Q1 us-gaap Interest Expense
InterestExpense
11236000
CY2013Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
446000
CY2013Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
-63913000
CY2013Q1 us-gaap Fair Value Option Credit Risk Gains Losses On Assets
FairValueOptionCreditRiskGainsLossesOnAssets
-8445000
CY2013Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
19577000
CY2013Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
1452000
CY2013Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
12678000
CY2013Q1 us-gaap Interest Income Other
InterestIncomeOther
24000
CY2013Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.008 pure
CY2013Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
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8683133000
CY2013Q1 pmt Effective Income Tax Rate Reconciliation Valuation Allowances
EffectiveIncomeTaxRateReconciliationValuationAllowances
0.000 pure
CY2013Q1 pmt Absolute Total Return To Shareholders Hurdle
AbsoluteTotalReturnToShareholdersHurdle
0.08 pure
CY2013Q1 pmt Income Tax Rate Reconciliation Change In Valuation Allowance
IncomeTaxRateReconciliationChangeInValuationAllowance
CY2013Q1 pmt Amount Of Incentive Distribution Rights Earned
AmountOfIncentiveDistributionRightsEarned
100
CY2013Q1 pmt Real Estate Owned Held For Sale Acquired In Business Combination
RealEstateOwnedHeldForSaleAcquiredInBusinessCombination
7122000
CY2013Q1 pmt Aggregate Expenses Incurred In Transactions With Affiliates
AggregateExpensesIncurredInTransactionsWithAffiliates
3964000
CY2013Q1 pmt Aggregate Non Cash Portion Of Gain On Mortgage Loans Acquired For Sale
AggregateNonCashPortionOfGainOnMortgageLoansAcquiredForSale
-3088000
CY2013Q1 pmt Aggregate Cash Gain On Sale Of Mortgage Loans Acquired For Sale Net Of Cash Hedging Results
AggregateCashGainOnSaleOfMortgageLoansAcquiredForSaleNetOfCashHedgingResults
-13633000
CY2013Q1 pmt Change In Fair Value Relating To Mortgage Loans Still Held At Period End
ChangeInFairValueRelatingToMortgageLoansStillHeldAtPeriodEnd
-2422000
CY2013Q1 pmt Change In Fair Value Hedging Instruments Still Held At Period End
ChangeInFairValueHedgingInstrumentsStillHeldAtPeriodEnd
-666000
CY2013Q1 pmt Change In Fair Value Of Commitments To Purchase Loans
ChangeInFairValueOfCommitmentsToPurchaseLoans
-8426000
CY2013Q1 pmt Compensation
Compensation
2089000
CY2013Q1 pmt Assets Gains Losses Recognized
AssetsGainsLossesRecognized
-2468000
CY2013Q1 pmt Base Management Fee
BaseManagementFee
4364000
CY2013Q1 pmt Amortization Of Credit Facility Commitment Fees
AmortizationOfCreditFacilityCommitmentFees
1143000
CY2013Q1 pmt Gain Loss Mortgage Loans
GainLossMortgageLoans
63980000
CY2013Q1 pmt Gain Loss On Investments Net
GainLossOnInvestmentsNet
63980000
CY2013Q1 pmt Gain On Sale Of Mortgage Loans Acquired For Sale Cash Portion
GainOnSaleOfMortgageLoansAcquiredForSaleCashPortion
-27247000
CY2013Q1 pmt Gains Losses Recognized Upon Sale Of Other Real Estate
GainsLossesRecognizedUponSaleOfOtherRealEstate
-2836000
CY2013Q1 pmt Interest Expense Mortgage Loans Acquired For Sale Sold Under Agreements To Repurchase
InterestExpenseMortgageLoansAcquiredForSaleSoldUnderAgreementsToRepurchase
6175000
CY2013Q1 pmt Increase Decrease In Principal And Interest Collections Receivable
IncreaseDecreaseInPrincipalAndInterestCollectionsReceivable
2187000
CY2013Q1 pmt Mortgage Loans Acquired For Sale Sold Under Agreements To Repurchase Amortization Of Debt Issuance Costs Excluded From Average Cost
MortgageLoansAcquiredForSaleSoldUnderAgreementsToRepurchaseAmortizationOfDebtIssuanceCostsExcludedFromAverageCost
1700000
CY2013Q1 pmt Mortgage Loans Acquired For Sale Sold Under Agreements To Repurchase Average Balance
MortgageLoansAcquiredForSaleSoldUnderAgreementsToRepurchaseAverageBalance
774417000
CY2013Q1 pmt Mortgage Loan Hedging Activities Gain Loss
MortgageLoanHedgingActivitiesGainLoss
13614000
CY2013Q1 pmt Management Fees
ManagementFees
6492000
CY2013Q1 pmt Loan Fulfillment Fees Payable To Affiliate
LoanFulfillmentFeesPayableToAffiliate
28136000
CY2013Q1 pmt Loan Servicing Fees
LoanServicingFees
28136000
CY2013Q1 pmt Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Servicing Asset Proceeds From Sale Of Mortgage Loans
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisServicingAssetProceedsFromSaleOfMortgageLoans
26000
CY2013Q1 pmt Fair Value Of Mortgage Loan Purchased During Year
FairValueOfMortgageLoanPurchasedDuringYear
200473000
CY2013Q1 pmt Fair Value Of Mortgage Loans Purchased From Or Through One Or More Subsidiaries
FairValueOfMortgageLoansPurchasedFromOrThroughOneOrMoreSubsidiaries
200297000
CY2013Q1 pmt Fair Value Option Non Credit Risk Gains Losses On Assets
FairValueOptionNonCreditRiskGainsLossesOnAssets
-55468000
CY2013Q1 pmt Fulfillment Fees
FulfillmentFees
28136000
CY2013Q1 pmt Effect Of Mortgage Servicing Rights On Loan Servicing Fees
EffectOfMortgageServicingRightsOnLoanServicingFees
4539000
CY2013Q1 pmt Deferred Income Tax Expense Benefit Mortgage Servicing Rights
DeferredIncomeTaxExpenseBenefitMortgageServicingRights
-22500000
CY2013Q1 pmt Deferred Income Tax Expense Benefit Other
DeferredIncomeTaxExpenseBenefitOther
753000
CY2013Q1 pmt Deferred Income Tax Expense Benefit Real Estate Valuation Loss
DeferredIncomeTaxExpenseBenefitRealEstateValuationLoss
-221000
CY2013Q1 pmt Transfer Of Mortgage Loans And Advances To Real Estate
TransferOfMortgageLoansAndAdvancesToRealEstate
31510000
CY2013Q1 pmt Transfer Of Mortgage Loans To Reo
TransferOfMortgageLoansToReo
31311000
CY2013Q1 pmt Write Down Of Mortgage Servicing Rights At Amortized Cost Due To Valuation Allowance
WriteDownOfMortgageServicingRightsAtAmortizedCostDueToValuationAllowance
CY2013Q1 pmt Unpaid Balance Mortgage Loans Sold With Continuing Involvement Delinquent Ninety Days Or More
UnpaidBalanceMortgageLoansSoldWithContinuingInvolvementDelinquentNinetyDaysOrMore
4257000
CY2013Q1 pmt Unpaid Balance Mortgage Loans Sold With Continuing Involvement Delinquent Thirty To Ninety Days
UnpaidBalanceMortgageLoansSoldWithContinuingInvolvementDelinquentThirtyToNinetyDays
38272000
CY2013Q1 pmt Payment For Expenses Incurred In Transactions With Affiliates
PaymentForExpensesIncurredInTransactionsWithAffiliates
33362000
CY2013Q1 pmt Other Operating Expenses Net
OtherOperatingExpensesNet
15655000
CY2013Q1 pmt Other Operating Income Net
OtherOperatingIncomeNet
8918000
CY2013Q1 pmt Origination Of Mortgage Servicing Rights Msrs Carried At Lower Of Amortized Cost Or Fair Value
OriginationOfMortgageServicingRightsMsrsCarriedAtLowerOfAmortizedCostOrFairValue
56190000
CY2013Q1 pmt Payment To Acquire Mortgage Loan At Fair Value
PaymentToAcquireMortgageLoanAtFairValue
200473000
CY2013Q1 pmt Performance Incentive Fee
PerformanceIncentiveFee
2128000
CY2013Q1 pmt Net Investments Income
NetInvestmentsIncome
119052000
CY2013Q1 pmt Net Gain Loss On Mortgage Loans Acquired For Sale
NetGainLossOnMortgageLoansAcquiredForSale
29279000
CY2013Q1 pmt Net Change In Short Term Investments
NetChangeInShortTermInvestments
6007000
CY2013Q1 pmt Mortgage Servicing Assets At Lower Of Amortized Cost Or Fair Value Gains Losses Recognized
MortgageServicingAssetsAtLowerOfAmortizedCostOrFairValueGainsLossesRecognized
2486000
CY2013Q1 pmt Mortgage Servicing Rights At Fair Value Addition Due To Sale Of Loan
MortgageServicingRightsAtFairValueAdditionDueToSaleOfLoan
26000
CY2013Q1 pmt Mortgage Servicing Rights Fair Value Additions
MortgageServicingRightsFairValueAdditions
26000
CY2013Q1 pmt Mortgage Servicing Rights Other Changes
MortgageServicingRightsOtherChanges
67000
CY2013Q1 pmt Sales Of Loans Under Agreements To Repurchase
SalesOfLoansUnderAgreementsToRepurchase
286321000
CY2013Q1 pmt Percentage Of Taxable Income For Distribution
PercentageOfTaxableIncomeForDistribution
0.90 pure
CY2013Q1 pmt Sourcing Fee On Unpaid Principal Balance
SourcingFeeOnUnpaidPrincipalBalance
0.0003 pure
CY2013Q1 pmt Basis Point For Mortgage Loan
BasisPointForMortgageLoan
0.0050 pure
CY2013Q1 pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate At Period End
SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateAtPeriodEnd
0.0099 pure
CY2013Q1 pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate During Period
SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateDuringPeriod
0.0090 pure
CY2013Q1 pmt Mortgage Loans At Fair Value Minimum Service Fee Rate Paid To Affiliate
MortgageLoansAtFairValueMinimumServiceFeeRatePaidToAffiliate
0.0050 pure
CY2013Q1 pmt Mortgage Loans At Fair Value Maximum Service Fee Rate Paid To Affiliate
MortgageLoansAtFairValueMaximumServiceFeeRatePaidToAffiliate
0.0100 pure
CY2013Q1 pmt Mortgage Loans Acquired For Sale Sold Under Agreements To Repurchase Weighted Average Interest Rate At Period End
MortgageLoansAcquiredForSaleSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateAtPeriodEnd
0.0239 pure
CY2013Q1 pmt Mortgage Loans Acquired For Sale Sold Under Agreements To Repurchase Weighted Average Interest Rate During Period
MortgageLoansAcquiredForSaleSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateDuringPeriod
0.0230 pure
CY2013Q1 pmt Mortgage Loans Description
MortgageLoansDescription
Note rate pools of 50 basis point ranges for fixed-rate mortgage loans
CY2013Q1 pmt Initial Interest Rates
InitialInterestRates
More than 4.5%
CY2013Q1 pmt Loans Delinquent Period
LoansDelinquentPeriod
90 or more days
CY2013Q1 pmt Sales Of Real Estate Acquired In Settlement Of Loans
SalesOfRealEstateAcquiredInSettlementOfLoans
32024000
CY2013Q1 pmt Results Of Real Estate Acquired In Settlement Of Loans
ResultsOfRealEstateAcquiredInSettlementOfLoans
-3253000
CY2013Q1 pmt Servicing Fees Contractually Specified
ServicingFeesContractuallySpecified
11104000
CY2013Q1 pmt Servicing Fees Received Loans Sold With Servicing Retained
ServicingFeesReceivedLoansSoldWithServicingRetained
16965000
CY2013Q1 pmt Securities Sold Under Agreements To Repurchase Average Balance
SecuritiesSoldUnderAgreementsToRepurchaseAverageBalance
69030000
CY2013Q1 pmt Securities Sold Under Agreements To Repurchase Maximum Daily Amount Outstanding
SecuritiesSoldUnderAgreementsToRepurchaseMaximumDailyAmountOutstanding
115493000
CY2013Q1 pmt Real Estate Acquired Through Foreclosure Gains Losses Recognized
RealEstateAcquiredThroughForeclosureGainsLossesRecognized
4954000
CY2013Q1 pmt Receipt Of Mortgage Servicing Rights As Proceeds From Sales Of Loans
ReceiptOfMortgageServicingRightsAsProceedsFromSalesOfLoans
-56216000
CY2013Q1 pmt Reimbursement Of Common Overhead Incurred
ReimbursementOfCommonOverheadIncurred
2606000
CY2013Q1 pmt Reimbursement Of Expenses
ReimbursementOfExpenses
1358000
CY2013Q1 pmt Repayments Of Mortgage Loans At Fair Value
RepaymentsOfMortgageLoansAtFairValue
61421000
CY2013Q1 pmt Representations And Warranties Losses Incurred
RepresentationsAndWarrantiesLossesIncurred
CY2013Q1 pmt Repurchases Of Loans Sold Under Agreements To Repurchase
RepurchasesOfLoansSoldUnderAgreementsToRepurchase
8084057000
CY2013Q1 pmt Repurchases Of Real Estate Acquired In Settlement Of Loans Financed Under Agreements To Repurchase
RepurchasesOfRealEstateAcquiredInSettlementOfLoansFinancedUnderAgreementsToRepurchase
3845000
CY2013Q1 pmt Real Estate Acquired In Satisfaction Of Debt
RealEstateAcquiredInSatisfactionOfDebt
31510000
CY2013Q1 pmt Provisions For Representations And Warranties Losses
ProvisionsForRepresentationsAndWarrantiesLosses
1790000
CY2013Q1 pmt Fulfillment Fees Interest Rate Effective Percentage Rate
FulfillmentFeesInterestRateEffectivePercentageRate
0.0050 pure
CY2013Q1 pmt Fixed Rate Mortgage Loans Maximum
FixedRateMortgageLoansMaximum
0.045 pure
CY2013Q1 pmt Fixed Rate Mortgage Loans Minimum
FixedRateMortgageLoansMinimum
0.03 pure
CY2013Q1 pmt Maximum Equity Based Awards Issuable Percentage Of Issued And Outstanding Shares As Of Grant Date
MaximumEquityBasedAwardsIssuablePercentageOfIssuedAndOutstandingSharesAsOfGrantDate
0.08 pure
CY2013Q1 pmt Payment For Proceeds From Other Investing Activities
PaymentForProceedsFromOtherInvestingActivities
-1493000
CY2013Q1 pmt Incentive Fees Payable
IncentiveFeesPayable
10
CY2013Q1 pmt Services Agreement Expiration Date
ServicesAgreementExpirationDate
2017-02-01
CY2013Q1 pmt Related Party Base Management Fee As Percentage Of Stock Holders Equity
RelatedPartyBaseManagementFeeAsPercentageOfStockHoldersEquity
0.015 pure
CY2013Q1 pmt Dividend Record Date
DividendRecordDate
2013-05-16
CY2013Q1 pmt Performance Fees Allocation Percentage To Partnership
PerformanceFeesAllocationPercentageToPartnership
0.20 pure
CY2013Q1 pmt Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Estimated Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsEstimatedForfeitureRate
0.15 pure
CY2013Q1 pmt Transfer To Mortgage Loans Acquired For Sale
TransferToMortgageLoansAcquiredForSale
43841000
CY2013Q1 pmt Loan Originations Fees
LoanOriginationsFees
5473000
CY2013Q1 pmt Mortgage Servicing Rights Rebate From Affiliate
MortgageServicingRightsRebateFromAffiliate
133000
CY2013Q1 pmt Repayment Of Borrowings On Repurchase Agreements
RepaymentOfBorrowingsOnRepurchaseAgreements
8152010000
CY2013Q1 pmt Sales Of Mortgage Servicing Rights Carried At Lower Of Amortized Cost Or Fair Value
SalesOfMortgageServicingRightsCarriedAtLowerOfAmortizedCostOrFairValue
CY2013Q1 pmt Percentage Of Change In Net Income Loss
PercentageOfChangeInNetIncomeLoss
0.08 pure
CY2013Q1 pmt Servicing Portfolio Percentage Of Aggregate Unpaid Principal Balance
ServicingPortfolioPercentageOfAggregateUnpaidPrincipalBalance
0.30 pure
CY2013Q1 pmt Mortgage Servicing Rights Fair Value Option Threshold Loan Interest Rate
MortgageServicingRightsFairValueOptionThresholdLoanInterestRate
0.045 pure
CY2013Q1 pmt Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Capitalization Of Interest
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisCapitalizationOfInterest
5230000
CY2013Q1 pmt Deferred Income Tax Expense Benefit Of Operating Loss Carryforward
DeferredIncomeTaxExpenseBenefitOfOperatingLossCarryforward
6115000
CY2013Q1 pmt Proceeds From Sale Of Mortgage Loans Held For Sale With Continuing Involvement
ProceedsFromSaleOfMortgageLoansHeldForSaleWithContinuingInvolvement
8683133000
CY2013Q1 pmt Repurchase Agreements Weighted Average Maturity Period
RepurchaseAgreementsWeightedAverageMaturityPeriod
P1M30D
CY2013Q1 pmt Interest Rate Lock Commitments Issued Net
InterestRateLockCommitmentsIssuedNet
35414000
CY2013Q1 pmt Service Agreement Maturity Renewal Term
ServiceAgreementMaturityRenewalTerm
18-month periods
CY2013Q1 pmt Related Party Transaction Sales To Related Party
RelatedPartyTransactionSalesToRelatedParty
3548397000
CY2013Q1 pmt Sales And Repayments Of Assets Under Agreements To Repurchase
SalesAndRepaymentsOfAssetsUnderAgreementsToRepurchase
93445000
CY2013Q1 pmt Proceeds From Sale Of Assets Under Agreements To Repurchase
ProceedsFromSaleOfAssetsUnderAgreementsToRepurchase
8510958000
CY2013Q1 pmt Sale Of Loans Acquired For Sale At Fair Value Under Agreements To Repurchase
SaleOfLoansAcquiredForSaleAtFairValueUnderAgreementsToRepurchase
8224637000
CY2013Q1 pmt Repurchase Of Loans At Fair Value Sold Under Agreements To Repurchase
RepurchaseOfLoansAtFairValueSoldUnderAgreementsToRepurchase
64108000
CY2013Q1 pmt Percentage Of Performance Incentive Fee Paid In Common Shares
PercentageOfPerformanceIncentiveFeePaidInCommonShares
0.50 pure
CY2013Q1 pmt Performance Incentive Fee Description
PerformanceIncentiveFeeDescription
The performance incentive fee is calculated quarterly and is equal to: (a) 10% of the amount by which net income for the quarter exceeds (i) an 8% return on equity plus the high watermark, up to (ii) a 12% return on equity; plus (b) 15% of the amount by which net income for the quarter exceeds (i) a 12% return on equity plus the high watermark, up to (ii) a 16% return on equity; plus (c) 20% of the amount by which net income for the quarter exceeds a 16% return on equity plus the high watermark.
CY2012Q1 us-gaap Payments To Acquire Mortgage Servicing Rights Msr
PaymentsToAcquireMortgageServicingRightsMSR
29000
CY2012Q1 us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
AncillaryFeeIncomeGeneratedByServicingFinancialAssetsAmount
CY2012Q1 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
4042000
CY2012Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1177000
CY2012Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
306000
CY2012Q1 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
3990000
CY2012Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
6491000
CY2012Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
9000
CY2012Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
1474000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
CY2012Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
5366000
CY2012Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
291914000
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29076000 shares
CY2012Q1 us-gaap Servicing Asset At Fair Value Period Increase Decrease
ServicingAssetAtFairValuePeriodIncreaseDecrease
-101000
CY2012Q1 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
646000
CY2012Q1 us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss Included In Investment Income
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLossIncludedInInvestmentIncome
CY2012Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.225 pure
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
17.28
CY2012Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
16425000
CY2012Q1 us-gaap Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
5517000
CY2012Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-113000
CY2012Q1 us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
15820000
CY2012Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
917000
CY2012Q1 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
-50000000
CY2012Q1 us-gaap Interest Paid
InterestPaid
6954000
CY2012Q1 us-gaap Increase Decrease Due From Affiliates
IncreaseDecreaseDueFromAffiliates
5117000
CY2012Q1 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
646000
CY2012Q1 us-gaap Share Based Compensation
ShareBasedCompensation
883000
CY2012Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
47918000
CY2012Q1 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.001 pure
CY2012Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
279000 shares
CY2012Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
245000
CY2012Q1 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
248000
CY2012Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
109518000
CY2012Q1 us-gaap Real Estate Owned Valuation Allowance Provision
RealEstateOwnedValuationAllowanceProvision
2554000
CY2012Q1 us-gaap Payments For Proceeds From Mortgage Servicing Rights
PaymentsForProceedsFromMortgageServicingRights
29000
CY2012Q1 us-gaap Servicing Fees Net
ServicingFeesNet
197000
CY2012Q1 us-gaap Dividends Common Stock
DividendsCommonStock
15692000
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.65
CY2012Q1 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
1000
CY2012Q1 us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
1816000
CY2012Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-155620000
CY2012Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
8935000
CY2012Q1 us-gaap Proceeds From Fees Received
ProceedsFromFeesReceived
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