Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE - Carrying Values and Estimated Fair Value (Details)

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FAIR VALUE - Carrying Values and Estimated Fair Value (Details) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Mar. 31, 2015
Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Real estate securities, available-for-sale $ 12,638 $ 59,034    
Real estate securities, pledged as collateral 381,206 105,963    
Real estate related and other loans, held-for-sale, net 155,075 149,198    
Subprime mortgage loans subject to call option 372,874 380,806    
Restricted cash 3,898 4,469    
Cash and cash equivalents 32,126 45,651 $ 56,002 $ 73,727
Other bonds and notes payable 11,575 16,162    
Repurchase agreements 420,374 418,458    
Credit facilities and obligations under capital leases 11,324 11,258    
Financing of subprime mortgage loans subject to call option 372,874 380,806    
Junior subordinated notes payable 51,223 $ 51,225    
Carrying Value        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Real estate securities, available-for-sale 12,638      
Real estate securities, pledged as collateral 381,206      
Real estate related and other loans, held-for-sale, net 155,075      
Residential mortgage loans, held-for-sale, net 446      
Subprime mortgage loans subject to call option 372,874      
Restricted cash 3,898      
Cash and cash equivalents 32,126      
Non-hedge derivative assets 165      
Other bonds and notes payable 11,575      
Repurchase agreements 420,374      
Credit facilities and obligations under capital leases 11,324      
Financing of subprime mortgage loans subject to call option 372,874      
Junior subordinated notes payable 51,223      
TBAs, not treated as hedges 1,063      
Estimated Fair Value        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Real estate securities, available-for-sale 12,638      
Real estate securities, pledged as collateral 381,206      
Real estate related and other loans, held-for-sale, net 171,147      
Residential mortgage loans, held-for-sale, net 482      
Subprime mortgage loans subject to call option 372,874      
Restricted cash 3,898      
Cash and cash equivalents 32,126      
Non-hedge derivative assets 165      
Other bonds and notes payable 11,660      
Repurchase agreements 420,549      
Credit facilities and obligations under capital leases 11,324      
Financing of subprime mortgage loans subject to call option 372,874      
Junior subordinated notes payable 22,265      
TBAs, not treated as hedges $ 1,063