Annual report pursuant to Section 13 and 15(d)

Schedule of Loan Valuation (Details)

v2.4.0.6
Schedule of Loan Valuation (Details) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Outstanding Face Amount $ 1,121,085  
Carrying Value 843,132  
Mezzanine Loans
    
Outstanding Face Amount 527,793  
Carrying Value 442,529 469,326
Fair Value 451,812  
Valuation Allowance/(Reversal) In Current Year 4,049  
Discount Rate Input Range 6.5%-25.0%  
Loss Severity Input Range 0.0%-100.0%  
Discount Rate Weighted Average 10.10%  
Loss Severity Weighted Average 10.60%  
Corporate Bank Loans
    
Outstanding Face Amount 391,904  
Carrying Value 208,863 161,153
Fair Value 208,863  
Valuation Allowance/(Reversal) In Current Year (19,123)  
Discount Rate Input Range 6.3%-36.3%  
Loss Severity Input Range 0.0%-100.0%  
Discount Rate Weighted Average 18.90%  
Loss Severity Weighted Average 37.60%  
B-Notes
    
Outstanding Face Amount 171,258  
Carrying Value 161,610 152,535
Fair Value 162,285  
Valuation Allowance/(Reversal) In Current Year (13,139)  
Discount Rate Input Range 8.0%-15.0%  
Loss Severity Input Range 0.0%  
Discount Rate Weighted Average 10.40%  
Loss Severity Weighted Average 0.00%  
Whole Loans
    
Outstanding Face Amount 30,130  
Carrying Value 30,130 30,566
Fair Value 30,142  
Valuation Allowance/(Reversal) In Current Year     
Discount Rate Input Range 5.1%-7.1%  
Loss Severity Input Range 0.0%-15.0%  
Discount Rate Weighted Average 5.20%  
Loss Severity Weighted Average 14.50%  
Total Real Estate Related Loans Held for Sale
    
Outstanding Face Amount 1,121,085  
Carrying Value 843,132 813,580
Fair Value 853,102  
Valuation Allowance/(Reversal) In Current Year (28,213)  
Non-Securitized Manufacturing Housing Loan Portfolio I
    
Outstanding Face Amount 573  
Carrying Value 163 199
Fair Value 163  
Valuation Allowance/(Reversal) In Current Year 3  
Discount Rate Weighted Average 38.80%  
Prepayment Speed Weighted Average 0.00%  
Cumulative Default Rate Weighted Average 52.90%  
Loss Severity Weighted Average 75.00%  
Non-Securitized Manufacturing Housing Loan Portfolio II
    
Outstanding Face Amount 3,072  
Carrying Value 2,308 2,488
Fair Value 2,308  
Valuation Allowance/(Reversal) In Current Year (496)  
Discount Rate Weighted Average 15.50%  
Prepayment Speed Weighted Average 5.00%  
Cumulative Default Rate Weighted Average 3.50%  
Loss Severity Weighted Average 80.00%  
Total Residential Mortgage Loans Held For Sale
    
Outstanding Face Amount 3,645  
Carrying Value 2,471 2,687
Fair Value 2,471  
Valuation Allowance/(Reversal) In Current Year (493)  
Securitized Manufacturing Housing Loan Portfolio I
    
Outstanding Face Amount 118,746  
Carrying Value 100,124 112,316
Fair Value 99,964  
Valuation Allowance/(Reversal) In Current Year (49)  
Discount Rate Weighted Average 9.50%  
Prepayment Speed Weighted Average 4.00%  
Cumulative Default Rate Weighted Average 4.00%  
Loss Severity Weighted Average 75.00%  
Securitized Manufacturing Housing Loan Portfolio II
    
Outstanding Face Amount 153,193  
Carrying Value 150,123 175,120
Fair Value 148,441  
Valuation Allowance/(Reversal) In Current Year 3,926  
Discount Rate Weighted Average 7.50%  
Prepayment Speed Weighted Average 5.00%  
Cumulative Default Rate Weighted Average 3.50%  
Loss Severity Weighted Average 80.00%  
Residential Mortgage Loans
    
Outstanding Face Amount 56,131  
Carrying Value 42,214 43,800
Fair Value 48,625  
Valuation Allowance/(Reversal) In Current Year 242  
Discount Rate Weighted Average 7.40%  
Prepayment Speed Weighted Average 4.70%  
Cumulative Default Rate Weighted Average 2.80%  
Loss Severity Weighted Average 46.60%  
Total Residential Mortgage Loans Held For Investment
    
Outstanding Face Amount 328,070  
Carrying Value 292,461 331,236
Fair Value 297,030  
Valuation Allowance/(Reversal) In Current Year $ 4,119