Quarterly report pursuant to Section 13 or 15(d)

DEBT OBLIGATIONS (Details)

v3.5.0.2
DEBT OBLIGATIONS (Details)
 1 Months Ended 6 Months Ended
Jul. 31, 2016
USD ($)
Jun. 30, 2016
USD ($)
property
Jun. 30, 2016
USD ($)
property
Debt Instrument [Line Items]      
Outstanding Face Amount   $ 891,783,000 $ 891,783,000
Carrying Value   888,080,000 888,080,000
FNMA/FHLMC Securities      
Debt Instrument [Line Items]      
Outstanding Face Amount   361,085,000 361,085,000
Carrying Value   $ 361,085,000 $ 361,085,000
Weighted Average Coupon   0.66% 0.66%
Weighted Average Funding Cost   0.66% 0.66%
Weighted Average Life     1 month 6 days
Face Amount of Floating Rate Debt   $ 0 $ 0
Outstanding Face Amount of Collateral   353,585,000 353,585,000
Amortized Cost Basis of Collateral   371,260,000 371,260,000
Carrying Value of Collateral   373,097,000 $ 373,097,000
Weighted Average Maturity of Collateral     5 years 7 months 6 days
Floating Rate Face Amount of Collateral   0 $ 0
Margin exposure   361,100,000.0 361,100,000.0
FNMA/FHLMC Securities | Subsequent Event      
Debt Instrument [Line Items]      
Repayments of debt $ 361,100,000    
Repurchase Agreements      
Debt Instrument [Line Items]      
Outstanding Face Amount   361,085,000 361,085,000
Carrying Value   $ 361,085,000 $ 361,085,000
Weighted Average Funding Cost   0.66% 0.66%
Weighted Average Life     1 month 6 days
Face Amount of Floating Rate Debt   $ 0 $ 0
Outstanding Face Amount of Collateral   353,585,000 353,585,000
Amortized Cost Basis of Collateral   371,260,000 371,260,000
Carrying Value of Collateral   373,097,000 $ 373,097,000
Weighted Average Maturity of Collateral     5 years 7 months 6 days
Floating Rate Face Amount of Collateral   0 $ 0
Accrued interest payable   100,000 100,000
Repurchase Agreements | Citi      
Debt Instrument [Line Items]      
Outstanding Face Amount   247,800,000.0 247,800,000.0
Repurchase Agreements | Morgan Stanley      
Debt Instrument [Line Items]      
Outstanding Face Amount   113,300,000.0 113,300,000.0
Golf Term Loans      
Debt Instrument [Line Items]      
Outstanding Face Amount   102,000,000 102,000,000
Carrying Value   $ 98,080,000 $ 98,080,000
Weighted Average Funding Cost   7.92% 7.92%
Weighted Average Life     3 years 6 days
Face Amount of Floating Rate Debt   $ 102,000,000 $ 102,000,000
Number of golf properties collateralized (in properties) | property   22 22
Deferred financing costs   $ 3,900,000 $ 3,900,000
Golf Term Loans | London Interbank Offered Rate (LIBOR)      
Debt Instrument [Line Items]      
Variable interest rate spread   4.70% 4.70%
Golf Term Loans | London Interbank Offered Rate (LIBOR) | Lower Range      
Debt Instrument [Line Items]      
Variable rate     1.80%
Golf Term Loans | London Interbank Offered Rate (LIBOR) | Upper Range | Interest rate cap      
Debt Instrument [Line Items]      
Variable rate     1.80%
Vineyard II      
Debt Instrument [Line Items]      
Outstanding Face Amount   $ 200,000 $ 200,000
Carrying Value   $ 200,000 $ 200,000
Weighted Average Coupon   2.20% 2.20%
Weighted Average Funding Cost   2.20% 2.20%
Weighted Average Life     27 years 6 months 6 days
Face Amount of Floating Rate Debt   $ 200,000 $ 200,000
Capital Leases (Equipment)      
Debt Instrument [Line Items]      
Outstanding Face Amount   14,563,000 14,563,000
Carrying Value   $ 14,563,000 $ 14,563,000
Weighted Average Funding Cost   6.59% 6.59%
Weighted Average Life     4 years 5 months 6 days
Face Amount of Floating Rate Debt   $ 0 $ 0
Capital Leases (Equipment) | Lower Range      
Debt Instrument [Line Items]      
Weighted Average Coupon   3.00% 3.00%
Capital Leases (Equipment) | Upper Range      
Debt Instrument [Line Items]      
Weighted Average Coupon   16.16% 16.16%
Golf Credit Facilities      
Debt Instrument [Line Items]      
Outstanding Face Amount   $ 116,763,000 $ 116,763,000
Carrying Value   $ 112,843,000 $ 112,843,000
Weighted Average Funding Cost   7.74% 7.74%
Weighted Average Life     3 years 2 months 6 days
Face Amount of Floating Rate Debt   $ 102,200,000 $ 102,200,000
Junior subordinated notes payable      
Debt Instrument [Line Items]      
Outstanding Face Amount   51,004,000 51,004,000
Carrying Value   $ 51,221,000 $ 51,221,000
Weighted Average Funding Cost   2.84% 2.84%
Weighted Average Life     18 years 9 months 6 days
Face Amount of Floating Rate Debt   $ 51,004,000 $ 51,004,000
Junior subordinated notes payable | London Interbank Offered Rate (LIBOR)      
Debt Instrument [Line Items]      
Variable interest rate spread     2.25%
Corporate      
Debt Instrument [Line Items]      
Outstanding Face Amount   51,004,000 $ 51,004,000
Carrying Value   $ 51,221,000 $ 51,221,000
Weighted Average Funding Cost   2.84% 2.84%
Weighted Average Life     18 years 9 months 6 days
Face Amount of Floating Rate Debt   $ 51,004,000 $ 51,004,000
Subtotal debt obligations      
Debt Instrument [Line Items]      
Outstanding Face Amount   528,852,000 528,852,000
Carrying Value   $ 525,149,000 $ 525,149,000
Weighted Average Funding Cost   2.39% 2.39%
Weighted Average Life     2 years 7 months 6 days
Face Amount of Floating Rate Debt   $ 153,204,000 $ 153,204,000
Outstanding Face Amount of Collateral   353,585,000 353,585,000
Amortized Cost Basis of Collateral   371,260,000 371,260,000
Carrying Value of Collateral   373,097,000 $ 373,097,000
Weighted Average Maturity of Collateral     5 years 7 months 6 days
Floating Rate Face Amount of Collateral   0 $ 0
Financing on subprime mortgage loans subject to call option      
Debt Instrument [Line Items]      
Outstanding Face Amount   362,931,000 362,931,000
Carrying Value   $ 362,931,000 $ 362,931,000