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REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Schedule of Loans (Details)

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REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Schedule of Loans (Details) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2014
Loans
Mezzanine Loans [Member]
  
Outstanding face amount $ 157,046
Carrying value 124,628
Number of Loans 8
Weighted Average Yield 7.42%
Weighted Average Coupon 7.34%
Weighted Average Life (Years) 1 year 3 months 18 days [1]
Floating Rate Loans as a % of Face Amount 75.90%
Delinquent face amount 12,000 [2]
Corporate Bank Loans [Member]
  
Outstanding face amount 164,973
Carrying value 97,684
Number of Loans 5
Weighted Average Yield 23.06%
Weighted Average Coupon 13.12%
Weighted Average Life (Years) 1 year 10 months 24 days [1]
Floating Rate Loans as a % of Face Amount 0.60%
B-Notes [Member]
  
Outstanding face amount 69,912
Carrying value 66,420
Number of Loans 2
Weighted Average Yield 5.57%
Weighted Average Coupon 4.40%
Weighted Average Life (Years) 1 year 7 months 6 days [1]
Floating Rate Loans as a % of Face Amount 68.20%
Whole Loans [Member]
  
Outstanding face amount 380
Carrying value 380
Number of Loans 1
Weighted Average Yield 3.95%
Weighted Average Coupon 7.37%
Weighted Average Life (Years) 0 years 6 months [1]
Floating Rate Loans as a % of Face Amount 0.00%
Total Real Estate Related and Other Loans Held for Sale, Net [Member]
  
Outstanding face amount 392,311
Carrying value 289,112
Number of Loans 16
Weighted Average Yield 12.27%
Weighted Average Coupon 9.25%
Weighted Average Life (Years) 1 year 7 months 6 days [1]
Floating Rate Loans as a % of Face Amount 42.80%
Delinquent face amount 12,000 [2],[3]
Residential Loans [Member]
  
Outstanding face amount 43,229 [4]
Carrying value 32,083 [4],[5]
Number of Loans 165 [4]
Weighted Average Yield 7.22% [4]
Weighted Average Coupon 2.27% [4]
Weighted Average Life (Years) 5 years 8 months 12 days [1],[4]
Floating Rate Loans as a % of Face Amount 100.00% [4]
Delinquent face amount 6,311 [2],[4]
Total Residential Mortgage Loans Held For Sale, Net [Member]
  
Outstanding face amount 43,229
Carrying value 32,083
Number of Loans 165
Weighted Average Yield 7.22%
Weighted Average Coupon 2.27%
Weighted Average Life (Years) 5 years 8 months 12 days [1]
Floating Rate Loans as a % of Face Amount 100.00%
Delinquent face amount 6,311 [2]
Subprime Mortgage Loans Subject to Call [Member]
  
Outstanding face amount 406,217
Carrying value $ 406,217
[1] The weighted average life is based on the timing of expected principal reduction on the assets.
[2] Includes loans that are 60 or more days past due (including loans that are in foreclosure, or borrower?s in bankruptcy) or considered real estate owned ("REO"). As of June 30, 2014, $87.4 million face amount of real estate related and other loans was on non-accrual status.
[3] Includes loans that are non-performing, in foreclosure, or under bankruptcy.
[4] Loans acquired at a discount for credit quality.
[5] Carrying value includes negligible interest receivable for the residential housing loans.