Annual report pursuant to Section 13 and 15(d)

REAL ESTATE SECURITIES - Real Estate Securities Holdings (Details)

v3.3.1.900
REAL ESTATE SECURITIES - Real Estate Securities Holdings (Details)
 12 Months Ended
Dec. 31, 2015
USD ($)
Secutiy
Dec. 31, 2014
USD ($)
Secutiy
Apr. 30, 2010
Secutiy
Investment [Line Items]      
Other Than Temporary Impairment - Amortized Cost Basis $ 0    
Amortized Cost Basis 0    
Carrying Value $ 59,034,000 $ 231,754,000  
Weighted Average Yield 20.54%    
Weighted Average Life (Years) 11 months 6 days    
Total outstanding face amount of fixed rate securities $ 168,500,000 600,900,000  
Total outstanding face amount of floating rate securities 41,400,000 94,200,000  
Total Securities, Pledged as Collateral      
Investment [Line Items]      
Outstanding Face Amount 102,660,000 390,771,000  
Before Impairment - Amortized Cost Basis 105,940,000 403,216,000  
Other Than Temporary Impairment - Amortized Cost Basis   0  
Amortized Cost Basis 105,940,000 403,216,000  
Gains-Gross Unrealized 23,000 4,473,000  
Losses- Gross Unrealized 0 0  
Carrying Value $ 105,963,000 $ 407,689,000  
Number of Securities | Secutiy 3 9  
Weighted Average Rating AAA    
Weighted average coupon rate of loans   2.90%  
Total Securities, Available-for-Sale      
Investment [Line Items]      
Before Impairment - Amortized Cost Basis $ 109,466,000 $ 306,355,000  
Other Than Temporary Impairment - Amortized Cost Basis (83,686,000) (137,810,000)  
Amortized Cost Basis 25,780,000 168,545,000  
Gains-Gross Unrealized 33,362,000 63,213,000  
Losses- Gross Unrealized (108,000) (4,000)  
Carrying Value $ 59,034,000 $ 231,754,000  
Number of Securities | Secutiy 30 64  
Non-consolidated CDO Securities      
Investment [Line Items]      
Outstanding Face Amount $ 0    
CMBS      
Investment [Line Items]      
Outstanding Face Amount 67,669,000 $ 214,026,000  
Before Impairment - Amortized Cost Basis 78,416,000 218,900,000  
Other Than Temporary Impairment - Amortized Cost Basis (55,372,000) (75,574,000)  
Amortized Cost Basis 23,044,000 143,326,000  
Gains-Gross Unrealized 16,673,000 35,441,000  
Losses- Gross Unrealized (33,000) (4,000)  
Carrying Value $ 39,684,000 $ 178,763,000  
Number of Securities | Secutiy 16 32  
Weighted Average Rating B B  
Weighted average coupon rate of loans 4.97% 5.86%  
Weighted Average Yield 14.78% 11.00%  
Weighted Average Life (Years) 2 years 1 month 6 days 2 years 7 months 6 days  
Weighted Average Principal Subordination 26.10% 10.40%  
Non-Agency RMBS      
Investment [Line Items]      
Outstanding Face Amount $ 16,477,000 $ 67,475,000  
Before Impairment - Amortized Cost Basis 23,403,000 79,808,000  
Other Than Temporary Impairment - Amortized Cost Basis (20,667,000) (54,589,000)  
Amortized Cost Basis 2,736,000 25,219,000  
Gains-Gross Unrealized 6,958,000 19,816,000  
Losses- Gross Unrealized (75,000) 0  
Carrying Value $ 9,619,000 $ 45,035,000  
Number of Securities | Secutiy 9 28  
Weighted Average Rating CC CCC  
Weighted average coupon rate of loans 1.89% 1.21%  
Weighted Average Yield 11.95% 9.66%  
Weighted Average Life (Years) 11 years 6 days 7 years 8 months 6 days  
Weighted Average Principal Subordination 9.70% 21.80%  
ABS-Franchise      
Investment [Line Items]      
Outstanding Face Amount $ 8,464,000 $ 8,464,000  
Before Impairment - Amortized Cost Basis 7,647,000 7,647,000  
Other Than Temporary Impairment - Amortized Cost Basis (7,647,000) (7,647,000)  
Amortized Cost Basis 0 0  
Gains-Gross Unrealized 0 0  
Losses- Gross Unrealized 0 0  
Carrying Value $ 0 $ 0  
Number of Securities | Secutiy 1 1  
Weighted Average Rating C C  
Weighted average coupon rate of loans 6.69% 6.69%  
Weighted Average Yield 0.00% 0.00%  
Weighted Average Life (Years) 0 years 0 years  
Weighted Average Principal Subordination 0.00% 0.00%  
CDO      
Investment [Line Items]      
Outstanding Face Amount $ 14,632,000    
Before Impairment - Amortized Cost Basis 0    
Other Than Temporary Impairment - Amortized Cost Basis 0    
Amortized Cost Basis 0    
Gains-Gross Unrealized 9,731,000    
Losses- Gross Unrealized 0    
Carrying Value $ 9,731,000    
Number of Securities | Secutiy 2   2
Weighted Average Rating C    
Weighted average coupon rate of loans 1.80%    
Weighted Average Yield 0.00%    
Weighted Average Life (Years) 7 years 2 months 6 days    
Weighted Average Principal Subordination 25.10%    
Debt securities      
Investment [Line Items]      
Outstanding Face Amount $ 107,242,000    
Before Impairment - Amortized Cost Basis 109,466,000    
Other Than Temporary Impairment - Amortized Cost Basis (83,686,000)    
Amortized Cost Basis 25,780,000    
Gains-Gross Unrealized 33,362,000    
Losses- Gross Unrealized (108,000)    
Carrying Value $ 59,034,000    
Number of Securities | Secutiy 28    
Weighted Average Rating CCC+    
Weighted average coupon rate of loans 4.20%    
Weighted Average Yield 14.48%    
Weighted Average Life (Years) 4 years 6 days    
Debt securities | Total Securities, Available-for-Sale      
Investment [Line Items]      
Outstanding Face Amount   $ 304,378,000  
Before Impairment - Amortized Cost Basis   306,355,000  
Other Than Temporary Impairment - Amortized Cost Basis   (137,810,000)  
Amortized Cost Basis   168,545,000  
Gains-Gross Unrealized   63,213,000  
Losses- Gross Unrealized   (4,000)  
Carrying Value   $ 231,754,000  
Number of Securities | Secutiy   63  
Weighted Average Rating   B-  
Weighted average coupon rate of loans   4.64%  
Weighted Average Yield   10.80%  
Weighted Average Life (Years)   4 years 1 month 6 days  
Equity Securities      
Investment [Line Items]      
Before Impairment - Amortized Cost Basis $ 0 $ 0  
Other Than Temporary Impairment - Amortized Cost Basis 0 0  
Amortized Cost Basis 0 0  
Gains-Gross Unrealized 0 0  
Losses- Gross Unrealized 0 0  
Carrying Value $ 0 $ 0  
Number of Securities | Secutiy 2 1  
Agency RMBS (FNMA/FHLMC)      
Investment [Line Items]      
Outstanding Face Amount $ 102,660,000 $ 390,771,000  
Before Impairment - Amortized Cost Basis 105,940,000 403,216,000  
Other Than Temporary Impairment - Amortized Cost Basis 0 0  
Amortized Cost Basis 105,940,000 403,216,000  
Gains-Gross Unrealized 23,000 4,473,000  
Losses- Gross Unrealized 0 0  
Carrying Value $ 105,963,000 $ 407,689,000  
Number of Securities | Secutiy 3 9  
Weighted Average Rating AAA AAA  
Weighted average coupon rate of loans 3.50% 3.50%  
Weighted Average Yield 2.99% 2.94%  
Weighted Average Life (Years) 7 years 10 months 5 years 7 months 6 days  
CDO      
Investment [Line Items]      
Outstanding Face Amount   $ 14,413,000  
Before Impairment - Amortized Cost Basis   0  
Other Than Temporary Impairment - Amortized Cost Basis   0  
Amortized Cost Basis   0  
Gains-Gross Unrealized   7,956,000  
Losses- Gross Unrealized   0  
Carrying Value   $ 7,956,000  
Number of Securities | Secutiy   2  
Weighted Average Rating   CCC-  
Weighted average coupon rate of loans   1.46%  
Weighted Average Yield   0.00%  
Weighted Average Life (Years)   11 years 6 months 6 days  
Weighted Average Principal Subordination   13.70%  
Unlevered real estate securities | Other      
Investment [Line Items]      
Outstanding Face Amount $ 37,404,000 $ 167,457,000  
Excluded from face amount of unlevered real estate securities $ 116,000,000 $ 113,300,000  
Number of Securities | Secutiy 8