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These excerpts taken from the CSE 10-K filed Mar 2, 2009. Cash
and Cash Equivalents
As of December 31, 2008 and 2007, we had $1.3 billion
and $0.2 billion, respectively, in cash and cash
equivalents. We invest cash on hand in short-term liquid
investments.
We had $419.4 million and $513.8 million of restricted
cash as of December 31, 2008 and 2007, respectively. The
restricted cash consists primarily of principal and interest
collections on loans collateralizing our term debt and on loans
pledged to our credit facilities other than our syndicated bank
credit facility and securities pledged as collateral to secure
our repurchase agreements and related derivatives. Restricted
cash also includes client holdbacks and escrows. Principal
repayments, interest rate swap payments, interest payable and
servicing fees are deducted from the monthly principal and
interest collections funded by loans collateralizing our credit
facilities and term debt, and the remaining restricted cash is
returned to us and becomes unrestricted at that time.
Cash
and Cash Equivalents
As of December 31, 2008 and 2007, we had $1.3 billion
and $0.2 billion, respectively, in cash and cash
equivalents. We invest cash on hand in short-term liquid
investments.
We had $419.4 million and $513.8 million of restricted
cash as of December 31, 2008 and 2007, respectively. The
restricted cash consists primarily of principal and interest
collections on loans collateralizing our term debt and on loans
pledged to our credit facilities other than our syndicated bank
credit facility and securities pledged as collateral to secure
our repurchase agreements and related derivatives. Restricted
cash also includes client holdbacks and escrows. Principal
repayments, interest rate swap payments, interest payable and
servicing fees are deducted from the monthly principal and
interest collections funded by loans collateralizing our credit
facilities and term debt, and the remaining restricted cash is
returned to us and becomes unrestricted at that time.
Cash
and Cash Equivalents
We consider all highly liquid investments with original
maturities of three months or less to be cash equivalents. For
the purpose of reporting cash flows, cash and cash equivalents
include collections from our borrowers, amounts due from banks,
U.S. Treasury securities, short-term investments and
commercial paper with an initial maturity of three months or
less.
NOTES TO
THE CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
Cash
and Cash Equivalents
We consider all highly liquid investments with original
maturities of three months or less to be cash equivalents. For
the purpose of reporting cash flows, cash and cash equivalents
include collections from our borrowers, amounts due from banks,
U.S. Treasury securities, short-term investments and
commercial paper with an initial maturity of three months or
less.
NOTES TO
THE CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
This excerpt taken from the CSE 10-Q filed Nov 10, 2008. Cash
and Cash Equivalents
As of September 30, 2008 and December 31, 2007, we had
$1.3 billion and $178.7 million, respectively, in cash
and cash equivalents. We invest cash on hand in short-term
liquid investments. Approximately $1 billion of the
increase in cash and cash equivalents was the result of our
acquisition of the deposits of FIL in July 2008.
We had $1.8 billion and $513.8 million of restricted
cash as of September 30, 2008 and December 31, 2007,
respectively. The restricted cash primarily represents both
principal and interest collections on loans collateralizing our
term debt and on loans pledged to our credit facilities and
investments in U.S. Treasury securities and discount notes
held for REIT compliance purposes and subject to repurchase
financing arrangements. We also have restricted cash
representing other items such as client holdbacks, escrows and
securities pledged as collateral to secure our repurchase
agreements and related derivatives. Principal repayments,
interest rate swap payments, interest payable and servicing fees
are deducted from the monthly principal and interest collections
funded by loans collateralizing our credit facilities and term
debt, and the remaining restricted cash is returned to us and
becomes unrestricted at that time.
This excerpt taken from the CSE 10-Q filed Aug 11, 2008. Cash
and Cash Equivalents
As of June 30, 2008 and December 31, 2007, we had
$169.7 million and $178.7 million, respectively, in
cash and cash equivalents. We invest cash on hand in short-term
liquid investments.
We had $429.0 million and $513.8 million of restricted
cash as of June 30, 2008 and December 31, 2007,
respectively. The restricted cash primarily represents both
principal and interest collections on loans collateralizing our
term debt and on loans pledged to our credit facilities. We also
have restricted cash representing other items such as client
holdbacks, escrows and securities pledged as collateral to
secure our repurchase agreements and related derivatives.
Principal repayments, interest rate swap payments, interest
payable and servicing fees are deducted from the monthly
principal and interest collections funded by loans
collateralizing our credit facilities and term debt, and the
remaining restricted cash is returned to us and becomes
unrestricted at that time.
This excerpt taken from the CSE 10-Q filed May 12, 2008. Cash
and Cash Equivalents
As of March 31, 2008 and December 31, 2007, we had
$270.8 million and $178.7 million, respectively, in
cash and cash equivalents. We invest cash on hand in short-term
liquid investments.
We had $527.3 million and $513.8 million of restricted
cash as of March 31, 2008 and December 31, 2007,
respectively. The restricted cash primarily represents both
principal and interest collections on loans collateralizing our
term debt and on loans pledged to our credit facilities. We also
have restricted cash representing other items such as client
holdbacks, escrows and securities pledged as collateral to
secure our repurchase agreements and related
derivatives. Principal repayments, interest rate swap payments,
interest payable and servicing fees are deducted from the
monthly principal and interest collections funded by loans
collateralizing our credit facilities and term debt, and the
remaining restricted cash is returned to us and becomes
unrestricted at that time.
These excerpts taken from the CSE 10-K filed Feb 29, 2008. Cash
and Cash Equivalents
We consider all highly liquid investments with original
maturities of three months or less to be cash equivalents. For
the purpose of reporting cash flows, cash and cash equivalents
include collections from our borrowers, amounts due from banks,
U.S. Treasury bills, overnight investments and commercial
paper with an initial maturity of three months or less.
Cash and Cash Equivalents We consider all highly liquid investments with original maturities of three months or less to be cash equivalents. For the purpose of reporting cash flows, cash and cash equivalents include collections from our borrowers, amounts due from banks, U.S. Treasury bills, overnight investments and commercial paper with an initial maturity of three months or less. This excerpt taken from the CSE 10-Q filed Nov 9, 2007. Cash
and Cash Equivalents
As of September 30, 2007 and December 31, 2006, we had
$245.9 million and $396.2 million, respectively, in
cash and cash equivalents. We invest cash on hand in short-term
liquid investments.
We had $296.8 million and $240.9 million of restricted
cash as of September 30, 2007 and December 31, 2006,
respectively. The restricted cash primarily represents both
principal and interest collections on loans collateralizing our
term debt and on loans pledged to our credit facilities. We also
have restricted cash representing other items such as client
holdbacks, escrows and securities pledged as collateral to
secure repurchase agreements and various financial derivative
contracts. Principal repayments, interest rate swap payments,
interest payable and servicing fees are deducted from the
monthly principal and interest collections funded by loans
collateralizing our credit facilities and term debt, and the
remaining restricted cash is returned to us and becomes
unrestricted at that time.
This excerpt taken from the CSE 10-Q filed Aug 8, 2007. Cash
and Cash Equivalents
As of June 30, 2007 and December 31, 2006, we had
$271.5 million and $396.2 million, respectively, in
cash and cash equivalents. We invest cash on hand in short-term
liquid investments.
We had $221.7 million and $240.9 million of restricted
cash as of June 30, 2007 and December 31, 2006,
respectively. The restricted cash primarily represents both
principal and interest collections on loans collateralizing our
term debt and on loans pledged to our credit facilities. We also
have restricted cash representing other items such as client
holdbacks, escrows and securities pledged as collateral to
secure our repurchase agreements and related derivatives.
Principal repayments, interest rate swap payments, interest
payable and servicing fees are deducted from the monthly
principal and interest collections funded by loans
collateralizing our credit facilities and term debt, and the
remaining restricted cash is returned to us and becomes
unrestricted at that time.
This excerpt taken from the CSE 10-Q filed May 10, 2007. Cash
and Cash Equivalents
As of March 31, 2007 and December 31, 2006, we had
$308.8 million and $396.2 million, respectively, in
cash and cash equivalents. We invest cash on hand in short-term
liquid investments.
We had $135.6 million and $240.9 million of restricted
cash as of March 31, 2007 and December 31, 2006,
respectively. The restricted cash primarily represents both
principal and interest collections on loans collateralizing our
term debt and on loans pledged to our credit facilities. We also
have restricted cash representing other items such as client
holdbacks, escrows and securities pledged as collateral to
secure our repurchase agreements and related derivatives.
Principal repayments, interest rate swap payments, interest
payable and servicing fees are deducted from the monthly
principal and interest collections funded by loans
collateralizing our credit facilities and term debt, and the
remaining restricted cash is returned to us and becomes
unrestricted at that time.
This excerpt taken from the CSE 10-K filed Mar 1, 2007. Cash
and Cash Equivalents
We consider all highly liquid investments with original
maturities of three months or less to be cash equivalents. For
the purpose of reporting cash flows, cash and cash equivalents
include collections from our borrowers, amounts due from banks,
U.S. Treasury bills, overnight investments and commercial
paper with an initial maturity of three months or less.
This excerpt taken from the CSE 10-Q filed Nov 8, 2006. Cash
and Cash Equivalents
As of September 30, 2006 and December 31, 2005, we had
$651.1 million and $323.9 million, respectively, in
cash and cash equivalents. The increase in cash as of
September 30, 2006 was primarily due to cash received just
prior to quarter-end including net proceeds from the
$1.5 billion term debt securitization and loan collections
and prepayments. We invest cash on hand in short-term liquid
investments, where permitted, that qualify as cash equivalents.
We generally fund new loan originations and growth in revolving
loan balances using advances under our credit facilities.
For the nine months ended September 30, 2006, we used cash
from operations of $55.9 million. For the nine months ended
September 30, 2005, we generated cash flow from operations
of $72.5 million. During the nine months ended
September 30, 2006, we purchased RMBS which are required to
be included in cash used in operations in the accompanying
consolidated statements of cash flows as these securities are
classified as trading securities in accordance with
SFAS No. 115, Accounting for Certain Investments in
Debt and Equity Securities. We financed these
purchases of RMBS primarily through repurchase agreements which
are included in cash from financing activities in the
accompanying consolidated statements of cash flows and as
described below. In addition, we purchased loans held for sale
during the nine months ended September 30, 2006 that also
are required to be included in cash used in operations.
Proceeds from our equity offerings, borrowings on our repurchase
agreements and credit facilities, the issuance of asset-backed
notes in our term debt transactions and the issuance of
convertible debt and subordinated debt provide cash from
financing activities. For the nine months ended
September 30, 2006 and 2005, we generated cash flow from
financing activities of $4.3 billion and $0.9 billion,
respectively.
Investing activities primarily relate to purchases of
residential mortgage investments and loan origination. For the
nine months ended September 30, 2006 and 2005, we used cash
in investing activities of $3.9 billion and
$1.1 billion, respectively.
We had $362.9 million and $284.8 million of restricted
cash as of September 30, 2006 and December 31, 2005,
respectively. The restricted cash represents principal and
interest collections on loans collateralizing our term debt,
interest collections on loans pledged to our credit facilities
and other items such as client holdbacks and escrows. Principal
repayments, interest rate swap payments, interest payable and
servicing fees are deducted from the monthly principal and
interest collections funded by loans collateralizing our credit
facilities and term debt, and the remaining restricted cash is
returned to us and becomes unrestricted at that time.
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