Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE - Loan Valuation (Details 7)

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FAIR VALUE - Loan Valuation (Details 7) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Dec. 31, 2013
Real estate related loans and other loans, held-for-sale, net $ 224,992   $ 224,992   $ 437,530
Residential mortgage loans, held-for-sale, net 4,036   4,036   2,185
Valuation allowance (reversal) on loans (4,015) (12,998) (1,243) (11,473)  
Mezzanine Loans [Member]
         
Outstanding Face Amount 132,053   132,053    
Real estate related loans and other loans, held-for-sale, net 99,666   99,666    
Fair Value 102,512   102,512    
Valuation allowance (reversal) on loans     (31)    
Discount Rate     7.20%    
Loss Severity     22.50%    
Mezzanine Loans [Member] | Lower Range [Member]
         
Discount Rate     5.00%    
Loss Severity     0.00%    
Mezzanine Loans [Member] | Upper Range [Member]
         
Discount Rate     9.00%    
Loss Severity     100.00%    
Corporate Bank Loans [Member]
         
Outstanding Face Amount 169,659   169,659    
Real estate related loans and other loans, held-for-sale, net 106,296   106,296    
Fair Value 118,156   118,156    
Valuation allowance (reversal) on loans     1,299    
Discount Rate     21.80%    
Loss Severity     27.10%    
Corporate Bank Loans [Member] | Lower Range [Member]
         
Discount Rate     15.00%    
Loss Severity     0.00%    
Corporate Bank Loans [Member] | Upper Range [Member]
         
Discount Rate     35.90%    
Loss Severity     100.00%    
B-Notes [Member]
         
Outstanding Face Amount 22,067   22,067    
Real estate related loans and other loans, held-for-sale, net 18,761   18,761    
Fair Value 18,761   18,761    
Valuation allowance (reversal) on loans     (3,454)    
Discount Rate     12.00%    
Loss Severity     0.00%    
Whole Loans [Member]
         
Outstanding Face Amount 269   269    
Real estate related loans and other loans, held-for-sale, net 269   269    
Fair Value 272   272    
Discount Rate     4.00%    
Loss Severity     0.00%    
Total Real Estate Related and Other Loans Held-for-Sale, Net [Member]
         
Outstanding Face Amount 324,048   324,048    
Real estate related loans and other loans, held-for-sale, net 224,992   224,992    
Fair Value 239,701   239,701    
Valuation allowance (reversal) on loans     (2,186)    
Residential Loans [Member]
         
Outstanding Face Amount 4,686   4,686    
Residential mortgage loans, held-for-sale, net 4,036   4,036    
Fair Value 4,317   4,317    
Valuation allowance (reversal) on loans     527 [1]    
Discount Rate     7.70%    
Prepayment Speed     0.20%    
Cumulative Default Rate     23.80%    
Loss Severity     5.10%    
Total Residential Mortgage Loans Held-for-Sale, Net [Member]
         
Outstanding Face Amount 4,686   4,686    
Residential mortgage loans, held-for-sale, net 4,036   4,036    
Fair Value 4,317   4,317    
Valuation allowance (reversal) on loans     $ 527 [1]    
[1] The valuation allowance (reversal) excludes $0.4 million allowance related to the manufactured housing portfolio that was sold in May 2014.