Quarterly report pursuant to Section 13 or 15(d)

REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Loans and Other Receivables (Details)

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REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Loans and Other Receivables (Details) (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2013
Integer
Number of Investments 149 [1]
Weighted Average Yield 5.64% [1]
Weighted Average Coupon 3.71% [1]
Weighted Average Maturity (Years) 3 years 1 month 6 days [1],[2]
Mezzanine Loans
  
Outstanding Face Amount $ 338,178
Carrying Value 268,635 [3]
Number of Investments 12
Weighted Average Yield 10.65%
Weighted Average Coupon 8.78%
Weighted Average Maturity (Years) 1 year 9 months 18 days [4]
Floating Rate Loans as a % of Face Amount 88.40%
Delinquent Face Amount 12,000 [5]
Corporate Bank Loans
  
Outstanding Face Amount 875,072
Carrying Value 402,139 [3]
Number of Investments 7
Weighted Average Yield 13.73%
Weighted Average Coupon 5.60%
Weighted Average Maturity (Years) 1 year 2 months 12 days [4]
Floating Rate Loans as a % of Face Amount 74.40%
Delinquent Face Amount    [5]
B-Notes
  
Outstanding Face Amount 110,461
Carrying Value 94,703 [3]
Number of Investments 4
Weighted Average Yield 10.50%
Weighted Average Coupon 6.30%
Weighted Average Maturity (Years) 0 years 8 months 12 days [4]
Floating Rate Loans as a % of Face Amount 79.30%
Delinquent Face Amount    [5]
Whole Loans
  
Outstanding Face Amount 29,820
Carrying Value 29,820 [3]
Number of Investments 2
Weighted Average Yield 4.80%
Weighted Average Coupon 3.75%
Weighted Average Maturity (Years) 0 years 2 months 12 days [4]
Floating Rate Loans as a % of Face Amount 97.60%
Delinquent Face Amount    [5]
Total Real Estate Related and Other Loans Held for Sale
  
Outstanding Face Amount 1,353,531 [6]
Carrying Value 795,297 [3],[6]
Number of Investments 25 [6]
Weighted Average Yield 11.97%
Weighted Average Coupon 6.41%
Weighted Average Maturity (Years) 1 year 3 months 18 days [4]
Floating Rate Loans as a % of Face Amount 78.80%
Delinquent Face Amount 12,000 [5]
Non-Securitized Manufacturing Housing Loan Portfolio I
  
Outstanding Face Amount 561
Carrying Value 145 [3]
Number of Investments 15
Weighted Average Yield 81.45%
Weighted Average Coupon 7.78%
Weighted Average Maturity (Years) 0 years 10 months 24 days [4]
Floating Rate Loans as a % of Face Amount 0.00%
Delinquent Face Amount 56 [5]
Non-Securitized Manufacturing Housing Loan Portfolio II
  
Outstanding Face Amount 2,677
Carrying Value 2,091 [3]
Number of Investments 100
Weighted Average Yield 15.43%
Weighted Average Coupon 10.03%
Weighted Average Maturity (Years) 5 years 2 months 12 days [4]
Floating Rate Loans as a % of Face Amount 9.60%
Delinquent Face Amount 181 [5]
Total Residential Mortgage Loans Held For Sale
  
Outstanding Face Amount 3,238 [7]
Carrying Value 2,236 [3],[7]
Number of Investments 115 [7]
Weighted Average Yield 19.71% [7]
Weighted Average Coupon 9.64% [7]
Weighted Average Maturity (Years) 4 years 6 months [4],[7]
Floating Rate Loans as a % of Face Amount 7.90% [7]
Delinquent Face Amount 237 [5],[7]
Securitized Manufacturing Housing Loan Portfolio I
  
Outstanding Face Amount 106,304 [7],[8]
Carrying Value 91,488 [3],[7],[8]
Number of Investments 2,903 [7],[8]
Weighted Average Yield 9.45% [7],[8]
Weighted Average Coupon 8.62% [7],[8]
Weighted Average Maturity (Years) 6 years 1 month 6 days [4],[7],[8]
Floating Rate Loans as a % of Face Amount 0.60% [7],[8]
Delinquent Face Amount 1,267 [5],[7],[8]
Securitized Manufacturing Housing Loan Portfolio II
  
Outstanding Face Amount 134,641 [7],[8]
Carrying Value 132,728 [3],[7],[8]
Number of Investments 4,821 [7],[8]
Weighted Average Yield 7.72% [7],[8]
Weighted Average Coupon 9.64% [7],[8]
Weighted Average Maturity (Years) 4 years 10 months 24 days [4],[7],[8]
Floating Rate Loans as a % of Face Amount 16.40% [7],[8]
Delinquent Face Amount 2,036 [5],[7],[8]
Residential Loans
  
Outstanding Face Amount 47,114 [7],[8]
Carrying Value 36,247 [3],[7],[8]
Number of Investments 175 [7],[8]
Weighted Average Yield 7.75% [7],[8]
Weighted Average Coupon 2.33% [7],[8]
Weighted Average Maturity (Years) 5 years 4 months 24 days [4],[7],[8]
Floating Rate Loans as a % of Face Amount 100.00% [7],[8]
Delinquent Face Amount 6,683 [5],[7],[8]
Total Residential Mortgage Loans Held For Investment
  
Outstanding Face Amount 288,059
Carrying Value 260,463 [3]
Number of Investments 7,899
Weighted Average Yield 8.33%
Weighted Average Coupon 8.07%
Weighted Average Maturity (Years) 5 years 6 months [4]
Floating Rate Loans as a % of Face Amount 24.20%
Delinquent Face Amount 9,986 [5]
Subprime Mortgage Loans Subject to Call
  
Outstanding Face Amount 406,217
Carrying Value $ 406,217 [3]
[1] (G) The total outstanding face amount was $0.4 billion for fixed rate securities and $0.6 billion for floating rate securities.
[2] (C) The weighted average maturity is based on the timing of expected principal reduction on the assets.
[3] (A) Carrying value includes interest receivable of $0.1 million for the residential housing loans and principal and interest receivable of $5.0 million for the manufactured housing loans.
[4] (B) The weighted average maturity is based on the timing of expected principal reduction on the assets.
[5] (C) Includes loans that are 60 or more days past due (including loans that are in foreclosure, or borrower's in bankruptcy) or considered real estate owned ("REO"). As of September 30, 2013, $142.3 million face amount of real estate related and other loans was on non-accrual status.
[6] (1) Based on the final extended maturity date of each loan investment as of September 30, 2013.
[7] (D) Loans acquired at a discount for credit quality.
[8] (E) The following is an aging analysis of past due residential loans held-for-investment as of September 30, 2013 (See Aging Schedule of Past Due Residential Loans Held For Investment).