Quarterly report pursuant to Section 13 or 15(d)

REAL ESTATE RELATED LOANS - Schedule of Real Estate Loans and Other Receivables (Details)

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REAL ESTATE RELATED LOANS - Schedule of Real Estate Loans and Other Receivables (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2012
Mezzanine Loans
  
Outstanding Face Amount $ 608,953
Carrying Value (A) 486,572
Loan Count 17
Wtd. Average Yield 10.20%
Weighted Average Coupon 7.90%
Weighted Average Maturity (Years) 2.1
Floating Rate Loans as a % of Face Amount 71.20%
Delinquent Face Amount (C) 12,000
Corporate Bank Loans
  
Outstanding Face Amount 300,663
Carrying Value (A) 189,328
Loan Count 6
Wtd. Average Yield 19.62%
Weighted Average Coupon 9.70%
Weighted Average Maturity (Years) 2.3
Floating Rate Loans as a % of Face Amount 51.10%
Delinquent Face Amount (C) 1,397
B-Notes
  
Outstanding Face Amount 207,981
Carrying Value (A) 185,701
Loan Count 7
Wtd. Average Yield 11.32%
Weighted Average Coupon 5.51%
Weighted Average Maturity (Years) 2.5
Floating Rate Loans as a % of Face Amount 71.40%
Delinquent Face Amount (C) 0
Whole Loans
  
Outstanding Face Amount 30,352
Carrying Value (A) 30,352
Loan Count 3
Wtd. Average Yield 5.17%
Weighted Average Coupon 3.87%
Weighted Average Maturity (Years) 1.5
Floating Rate Loans as a % of Face Amount 95.90%
Delinquent Face Amount (C) 0
Total Real Estate Related Loans Held for Sale
  
Outstanding Face Amount 1,147,949
Carrying Value (A) 891,953
Loan Count 33
Wtd. Average Yield 12.26%
Weighted Average Coupon 7.83%
Weighted Average Maturity (Years) 2.2
Floating Rate Loans as a % of Face Amount 66.60%
Delinquent Face Amount (C) 13,397
Non-Securitized Manufacturing Housing Loan Portfolio I
  
Outstanding Face Amount 640
Carrying Value (A) 169
Loan Count 18
Wtd. Average Yield 39.15%
Weighted Average Coupon 8.01%
Weighted Average Maturity (Years) 0.7
Floating Rate Loans as a % of Face Amount 0.00%
Delinquent Face Amount (C) 45
Non-Securitized Manufacturing Housing Loan Portfolio II
  
Outstanding Face Amount 3,682
Carrying Value (A) 2,777
Loan Count 126
Wtd. Average Yield 15.48%
Weighted Average Coupon 10.10%
Weighted Average Maturity (Years) 5.7
Floating Rate Loans as a % of Face Amount 8.00%
Delinquent Face Amount (C) 524
Total Residential Mortgage Loans Held For Sale
  
Outstanding Face Amount 4,322
Carrying Value (A) 2,946
Loan Count 144
Wtd. Average Yield 16.84%
Weighted Average Coupon 9.79%
Weighted Average Maturity (Years) 5.0
Floating Rate Loans as a % of Face Amount 6.80%
Delinquent Face Amount (C) 569
Securitized Manufacturing Housing Loan Portfolio I
  
Outstanding Face Amount 125,948
Carrying Value (A) 105,225
Loan Count 3,352
Wtd. Average Yield 9.48%
Weighted Average Coupon 8.67%
Weighted Average Maturity (Years) 6.9
Floating Rate Loans as a % of Face Amount 0.90%
Delinquent Face Amount (C) 978
Securitized Manufacturing Housing Loan Portfolio II
  
Outstanding Face Amount 165,494
Carrying Value (A) 162,402
Loan Count 5,733
Wtd. Average Yield 7.54%
Weighted Average Coupon 9.64%
Weighted Average Maturity (Years) 5.8
Floating Rate Loans as a % of Face Amount 17.00%
Delinquent Face Amount (C) 3,370
Residential Mortgage Loans
  
Outstanding Face Amount 58,523
Carrying Value (A) 43,470
Loan Count 207
Wtd. Average Yield 7.67%
Weighted Average Coupon 2.56%
Weighted Average Maturity (Years) 6.5
Floating Rate Loans as a % of Face Amount 100.00%
Delinquent Face Amount (C) 7,914
Total Residential Mortgage Loans Held For Investment
  
Outstanding Face Amount 349,965
Carrying Value (A) 311,097
Loan Count 9,292
Wtd. Average Yield 8.21%
Weighted Average Coupon 8.10%
Weighted Average Maturity (Years) 6.3
Floating Rate Loans as a % of Face Amount 25.10%
Delinquent Face Amount (C) 12,262
Subprime Mortgage Loans Subject to Call
  
Outstanding Face Amount 406,217
Carrying Value (A) $ 405,247