Quarterly report pursuant to Section 13 or 15(d)

REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Subprime Characteristics (Details 6)

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REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Subprime Characteristics (Details 6) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2014
Loan unpaid principal balance (UPB) $ 829,455 [1]
Debt Face Amount 2,171,875
Subprime Portfolio I [Member]
  
Loan unpaid principal balance (UPB) 347,522 [1]
Weighted Average Coupon 5.69%
Delinquencies of 60 or more days (UPB) 90,313
Net credit losses 13,973
Cumulative net credit losses 260,778
Cumulative net credit losses as a % of original UPB 17.40%
Percentage of ARM loans 50.10%
Percentage of loans with original loan-to-value ratio >90% 10.70%
Percentage of interest-only loans 10.50%
Debt Face Amount 343,522
Weighted average funding cost of debt 0.50%
Subprime Portfolio II [Member]
  
Loan unpaid principal balance (UPB) 481,933 [1]
Weighted Average Coupon 4.76%
Delinquencies of 60 or more days (UPB) 173,548
Net credit losses 17,703
Cumulative net credit losses 319,277
Cumulative net credit losses as a % of original UPB 29.30%
Percentage of ARM loans 64.20%
Percentage of loans with original loan-to-value ratio >90% 16.90%
Percentage of interest-only loans 21.20%
Debt Face Amount $ 481,933
Weighted average funding cost of debt 0.42%
[1] Average loan seasoning of 107 months and 89 months for Subprime Portfolios I and II, respectively, at June 30, 2014.