|
FAIR VALUE - Loan Valuation (Details 7) (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
6 Months Ended |
|
|
Jun. 30, 2013
|
Jun. 30, 2012
|
Jun. 30, 2013
|
Jun. 30, 2012
|
Dec. 31, 2012
|
| Outstanding Face Amount |
$ 1,011,205
|
[1],[2] |
|
$ 1,011,205
|
[1],[2] |
|
|
| Real estate related loans, held-for-sale, net |
837,427
|
|
|
837,427
|
|
|
843,132
|
| Residential mortgage loans, held-for-sale, net |
2,266
|
|
|
2,266
|
|
|
2,471
|
| Valuation Allowance/(Reversal) In Current Year |
(709)
|
|
(3,223)
|
1,525
|
|
(12,254)
|
|
|
Mezzanine Loans
|
|
|
|
|
|
|
|
| Outstanding Face Amount |
430,584
|
|
|
430,584
|
|
|
|
| Real estate related loans, held-for-sale, net |
350,127
|
|
|
350,127
|
|
|
|
| Fair Value |
357,410
|
|
|
357,410
|
|
|
|
| Valuation Allowance/(Reversal) In Current Year |
|
|
|
(1,112)
|
|
|
|
| Discount Rate Input Range |
|
|
|
5.0%-25.0%
|
|
|
|
| Loss Severity Input Range |
|
|
|
0.00%-100.0%
|
|
|
|
| Discount Rate Weighted Average |
|
|
|
9.10%
|
|
|
|
| Loss Severity Weighted Average |
|
|
|
17.50%
|
|
|
|
|
Corporate Bank Loans
|
|
|
|
|
|
|
|
| Outstanding Face Amount |
783,448
|
|
|
783,448
|
|
|
|
| Real estate related loans, held-for-sale, net |
363,337
|
|
|
363,337
|
|
|
|
| Fair Value |
366,466
|
|
|
366,466
|
|
|
|
| Valuation Allowance/(Reversal) In Current Year |
|
|
|
(3,963)
|
|
|
|
| Discount Rate Input Range |
|
|
|
5.8%-27.5%
|
|
|
|
| Loss Severity Input Range |
|
|
|
0.00%-100.0%
|
|
|
|
| Discount Rate Weighted Average |
|
|
|
14.00%
|
|
|
|
| Loss Severity Weighted Average |
|
|
|
47.80%
|
|
|
|
|
B-Notes
|
|
|
|
|
|
|
|
| Outstanding Face Amount |
110,944
|
|
|
110,944
|
|
|
|
| Real estate related loans, held-for-sale, net |
94,040
|
|
|
94,040
|
|
|
|
| Fair Value |
95,601
|
|
|
95,601
|
|
|
|
| Valuation Allowance/(Reversal) In Current Year |
|
|
|
7,337
|
|
|
|
| Discount Rate Input Range |
|
|
|
6.0%-16.2%
|
|
|
|
| Loss Severity Input Range |
|
|
|
0.0%-47.0%
|
|
|
|
| Discount Rate Weighted Average |
|
|
|
10.60%
|
|
|
|
| Loss Severity Weighted Average |
|
|
|
9.70%
|
|
|
|
|
Whole Loans
|
|
|
|
|
|
|
|
| Outstanding Face Amount |
29,923
|
|
|
29,923
|
|
|
|
| Real estate related loans, held-for-sale, net |
29,923
|
|
|
29,923
|
|
|
|
| Fair Value |
30,085
|
|
|
30,085
|
|
|
|
| Valuation Allowance/(Reversal) In Current Year |
|
|
|
|
|
|
|
| Discount Rate Input Range |
|
|
|
4.7%-6.9%
|
|
|
|
| Loss Severity Input Range |
|
|
|
0.0%-15.0%
|
|
|
|
| Discount Rate Weighted Average |
|
|
|
4.80%
|
|
|
|
| Loss Severity Weighted Average |
|
|
|
14.60%
|
|
|
|
|
Total Real Estate Related Loans Held for Sale
|
|
|
|
|
|
|
|
| Outstanding Face Amount |
1,354,899
|
|
|
1,354,899
|
|
|
|
| Real estate related loans, held-for-sale, net |
837,427
|
|
|
837,427
|
|
|
|
| Fair Value |
849,562
|
|
|
849,562
|
|
|
|
| Valuation Allowance/(Reversal) In Current Year |
|
|
|
2,262
|
|
|
|
|
Non-Securitized Manufacturing Housing Loan Portfolio I
|
|
|
|
|
|
|
|
| Outstanding Face Amount |
565
|
|
|
565
|
|
|
|
| Real estate related loans, held-for-sale, net |
146
|
|
|
146
|
|
|
|
| Fair Value |
146
|
|
|
146
|
|
|
|
| Valuation Allowance/(Reversal) In Current Year |
|
|
|
(6)
|
|
|
|
| Discount Rate Weighted Average |
|
|
|
68.50%
|
|
|
|
| Prepayment Speed Weighted Average |
|
|
|
5.00%
|
|
|
|
| Cumulative Default Rate Weighted Average |
|
|
|
11.60%
|
|
|
|
| Loss Severity Weighted Average |
|
|
|
70.00%
|
|
|
|
|
Non-Securitized Manufacturing Housing Loan Portfolio II
|
|
|
|
|
|
|
|
| Outstanding Face Amount |
2,780
|
|
|
2,780
|
|
|
|
| Real estate related loans, held-for-sale, net |
2,120
|
|
|
2,120
|
|
|
|
| Fair Value |
2,120
|
|
|
2,120
|
|
|
|
| Valuation Allowance/(Reversal) In Current Year |
|
|
|
18
|
|
|
|
| Discount Rate Weighted Average |
|
|
|
15.50%
|
|
|
|
| Prepayment Speed Weighted Average |
|
|
|
5.00%
|
|
|
|
| Cumulative Default Rate Weighted Average |
|
|
|
3.50%
|
|
|
|
| Loss Severity Weighted Average |
|
|
|
75.00%
|
|
|
|
|
Total Residential Mortgage Loans Held For Sale
|
|
|
|
|
|
|
|
| Outstanding Face Amount |
3,345
|
|
|
3,345
|
|
|
|
| Real estate related loans, held-for-sale, net |
2,266
|
|
|
2,266
|
|
|
|
| Fair Value |
2,266
|
|
|
2,266
|
|
|
|
| Valuation Allowance/(Reversal) In Current Year |
|
|
|
12
|
|
|
|
|
Securitized Manufacturing Housing Loan Portfolio I
|
|
|
|
|
|
|
|
| Outstanding Face Amount |
110,589
|
|
|
110,589
|
|
|
|
| Residential mortgage loans, held-for-sale, net |
94,909
|
|
|
94,909
|
|
|
|
| Fair Value |
91,676
|
|
|
91,676
|
|
|
|
| Valuation Allowance/(Reversal) In Current Year |
|
|
|
(1,592)
|
|
|
|
| Discount Rate Weighted Average |
|
|
|
9.50%
|
|
|
|
| Prepayment Speed Weighted Average |
|
|
|
5.00%
|
|
|
|
| Cumulative Default Rate Weighted Average |
|
|
|
4.00%
|
|
|
|
| Loss Severity Weighted Average |
|
|
|
70.00%
|
|
|
|
|
Securitized Manufacturing Housing Loan Portfolio II
|
|
|
|
|
|
|
|
| Outstanding Face Amount |
140,828
|
|
|
140,828
|
|
|
|
| Residential mortgage loans, held-for-sale, net |
138,895
|
|
|
138,895
|
|
|
|
| Fair Value |
133,604
|
|
|
133,604
|
|
|
|
| Valuation Allowance/(Reversal) In Current Year |
|
|
|
1,019
|
|
|
|
| Discount Rate Weighted Average |
|
|
|
7.70%
|
|
|
|
| Prepayment Speed Weighted Average |
|
|
|
5.00%
|
|
|
|
| Cumulative Default Rate Weighted Average |
|
|
|
3.50%
|
|
|
|
| Loss Severity Weighted Average |
|
|
|
75.00%
|
|
|
|
|
Residential Loans
|
|
|
|
|
|
|
|
| Outstanding Face Amount |
51,886
|
|
|
51,886
|
|
|
|
| Residential mortgage loans, held-for-sale, net |
39,528
|
|
|
39,528
|
|
|
|
| Fair Value |
45,316
|
|
|
45,316
|
|
|
|
| Valuation Allowance/(Reversal) In Current Year |
|
|
|
(176)
|
|
|
|
| Discount Rate Weighted Average |
|
|
|
7.70%
|
|
|
|
| Prepayment Speed Weighted Average |
|
|
|
4.60%
|
|
|
|
| Cumulative Default Rate Weighted Average |
|
|
|
2.80%
|
|
|
|
| Loss Severity Weighted Average |
|
|
|
46.40%
|
|
|
|
|
Total Residential Mortgage Loans Held For Investment
|
|
|
|
|
|
|
|
| Outstanding Face Amount |
303,303
|
|
|
303,303
|
|
|
|
| Residential mortgage loans, held-for-sale, net |
273,332
|
|
|
273,332
|
|
|
|
| Fair Value |
270,596
|
|
|
270,596
|
|
|
|
| Valuation Allowance/(Reversal) In Current Year |
|
|
|
$ (749)
|
|
|
|
|
|
|