Quarterly report pursuant to Section 13 or 15(d)

DEBT OBLIGATIONS (Details)

v3.5.0.2
DEBT OBLIGATIONS (Details)
 1 Months Ended 9 Months Ended
Jul. 31, 2016
USD ($)
Jun. 30, 2016
USD ($)
property
Sep. 30, 2016
USD ($)
property
Debt Instrument [Line Items]      
Outstanding Face Amount     $ 1,354,409,000
Carrying Value     1,351,004,000
FNMA/FHLMC Securities      
Debt Instrument [Line Items]      
Outstanding Face Amount     831,741,000
Carrying Value     $ 831,741,000
Weighted Average Coupon     0.79%
Weighted Average Funding Cost     0.79%
Weighted Average Life     1 month
Face Amount of Floating Rate Debt     $ 0
Outstanding Face Amount of Collateral     817,235,000
Amortized Cost Basis of Collateral     858,097,000
Carrying Value of Collateral     $ 858,233,000
Weighted Average Maturity of Collateral     6 years
Floating Rate Face Amount of Collateral     $ 0
Margin exposure     831,700,000.0
Repayments of debt $ 831,700,000    
Repurchase Agreements      
Debt Instrument [Line Items]      
Outstanding Face Amount     831,741,000
Carrying Value     $ 831,741,000
Weighted Average Funding Cost     0.79%
Weighted Average Life     1 month
Face Amount of Floating Rate Debt     $ 0
Outstanding Face Amount of Collateral     817,235,000
Amortized Cost Basis of Collateral     858,097,000
Carrying Value of Collateral     $ 858,233,000
Weighted Average Maturity of Collateral     6 years
Floating Rate Face Amount of Collateral     $ 0
Accrued interest payable     100,000
Repurchase Agreements | Citi      
Debt Instrument [Line Items]      
Outstanding Face Amount     399,100,000.0
Repurchase Agreements | Jefferies      
Debt Instrument [Line Items]      
Outstanding Face Amount     284,500,000.0
Repurchase Agreements | Morgan Stanley      
Debt Instrument [Line Items]      
Outstanding Face Amount     148,100,000.0
Golf Term Loans      
Debt Instrument [Line Items]      
Outstanding Face Amount   $ 102,000,000.0 102,000,000
Carrying Value     $ 98,380,000
Weighted Average Funding Cost     7.92%
Weighted Average Life     2 years 8 months
Face Amount of Floating Rate Debt     $ 102,000,000
Number of golf properties collateralized (in properties) | property   22 22
Deferred financing costs     $ 3,600,000
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
Carrying Value     $ 200,000
Weighted Average Coupon     2.20%
Weighted Average Funding Cost     2.20%
Weighted Average Life     27 years 2 months
Face Amount of Floating Rate Debt     $ 200,000
Capital Leases (Equipment)      
Debt Instrument [Line Items]      
Outstanding Face Amount     16,117,000
Carrying Value     $ 16,117,000
Weighted Average Funding Cost     6.56%
Weighted Average Life     4 years 3 months
Face Amount of Floating Rate Debt     $ 0
Capital Leases (Equipment) | Lower Range      
Debt Instrument [Line Items]      
Weighted Average Coupon     3.00%
Capital Leases (Equipment) | Upper Range      
Debt Instrument [Line Items]      
Weighted Average Coupon     16.16%
Golf Credit Facilities      
Debt Instrument [Line Items]      
Outstanding Face Amount     $ 118,317,000
Carrying Value     $ 114,697,000
Weighted Average Funding Cost     7.72%
Weighted Average Life     3 years
Face Amount of Floating Rate Debt     $ 102,200,000
Junior subordinated notes payable      
Debt Instrument [Line Items]      
Outstanding Face Amount     51,004,000
Carrying Value     $ 51,219,000
Weighted Average Funding Cost     2.98%
Weighted Average Life     18 years 7 months
Face Amount of Floating Rate Debt     $ 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
Carrying Value     $ 51,219,000
Weighted Average Funding Cost     2.98%
Weighted Average Life     18 years 7 months
Face Amount of Floating Rate Debt     $ 51,004,000
Subtotal debt obligations      
Debt Instrument [Line Items]      
Outstanding Face Amount     1,001,062,000
Carrying Value     $ 997,657,000
Weighted Average Funding Cost     1.70%
Weighted Average Life     1 year 5 months
Face Amount of Floating Rate Debt     $ 153,204,000
Outstanding Face Amount of Collateral     817,235,000
Amortized Cost Basis of Collateral     858,097,000
Carrying Value of Collateral     $ 858,233,000
Weighted Average Maturity of Collateral     6 years
Floating Rate Face Amount of Collateral     $ 0
Financing on subprime mortgage loans subject to call option      
Debt Instrument [Line Items]      
Outstanding Face Amount     353,347,000
Carrying Value     $ 353,347,000