Quarterly report pursuant to Section 13 or 15(d)

REAL ESTATE RELATED LOANS - Schedule of Real Estate Loans and Other Receivables (Details)

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REAL ESTATE RELATED LOANS - Schedule of Real Estate Loans and Other Receivables (Details) (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2012
Outstanding Face Amount $ 1,102,934
Carrying Value (A) 842,303
Loan Count 34
Mezzanine Loans
  
Outstanding Face Amount 530,343
Carrying Value (A) 443,269
Loan Count 17
Wtd. Average Yield 10.79%
Weighted Average Coupon 8.55%
Weighted Average Maturity (Years) 2.3
Floating Rate Loans as a % of Face Amount 67.00%
Delinquent Face Amount (C) 12,000
Corporate Bank Loans
  
Outstanding Face Amount 334,855
Carrying Value (A) 180,044
Loan Count 7
Wtd. Average Yield 20.05%
Weighted Average Coupon 9.51%
Weighted Average Maturity (Years) 1.9
Floating Rate Loans as a % of Face Amount 40.70%
Delinquent Face Amount (C) 0
B-Notes
  
Outstanding Face Amount 207,494
Carrying Value (A) 188,748
Loan Count 7
Wtd. Average Yield 10.79%
Weighted Average Coupon 5.51%
Weighted Average Maturity (Years) 2.4
Floating Rate Loans as a % of Face Amount 71.40%
Delinquent Face Amount (C) 0
Whole Loans
  
Outstanding Face Amount 30,242
Carrying Value (A) 30,242
Loan Count 3
Wtd. Average Yield 5.20%
Weighted Average Coupon 3.84%
Weighted Average Maturity (Years) 1.3
Floating Rate Loans as a % of Face Amount 96.30%
Delinquent Face Amount (C) 0
Total Real Estate Related Loans Held for Sale
  
Outstanding Face Amount 1,102,934
Carrying Value (A) 842,303
Loan Count 34
Wtd. Average Yield 12.57%
Weighted Average Coupon 8.14%
Weighted Average Maturity (Years) 2.2
Floating Rate Loans as a % of Face Amount 60.70%
Delinquent Face Amount (C) 12,000
Non-Securitized Manufacturing Housing Loan Portfolio I
  
Outstanding Face Amount 591
Carrying Value (A) 151
Loan Count 16
Wtd. Average Yield 38.88%
Weighted Average Coupon 7.83%
Weighted Average Maturity (Years) 0.7
Floating Rate Loans as a % of Face Amount 0.00%
Delinquent Face Amount (C) 56
Non-Securitized Manufacturing Housing Loan Portfolio II
  
Outstanding Face Amount 3,144
Carrying Value (A) 2,415
Loan Count 117
Wtd. Average Yield 15.47%
Weighted Average Coupon 10.03%
Weighted Average Maturity (Years) 5.5
Floating Rate Loans as a % of Face Amount 9.20%
Delinquent Face Amount (C) 370
Total Residential Mortgage Loans Held For Sale
  
Outstanding Face Amount 3,735
Carrying Value (A) 2,566
Loan Count 133
Wtd. Average Yield 16.85%
Weighted Average Coupon 9.68%
Weighted Average Maturity (Years) 4.7
Floating Rate Loans as a % of Face Amount 7.70%
Delinquent Face Amount (C) 426
Securitized Manufacturing Housing Loan Portfolio I
  
Outstanding Face Amount 122,453
Carrying Value (A) 102,745
Loan Count 3,268
Wtd. Average Yield 9.48%
Weighted Average Coupon 8.66%
Weighted Average Maturity (Years) 6.9
Floating Rate Loans as a % of Face Amount 0.80%
Delinquent Face Amount (C) 990
Securitized Manufacturing Housing Loan Portfolio II
  
Outstanding Face Amount 158,542
Carrying Value (A) 155,933
Loan Count 5,534
Wtd. Average Yield 7.51%
Weighted Average Coupon 9.64%
Weighted Average Maturity (Years) 5.7
Floating Rate Loans as a % of Face Amount 16.90%
Delinquent Face Amount (C) 2,676
Residential Mortgage Loans
  
Outstanding Face Amount 57,163
Carrying Value (A) 42,692
Loan Count 202
Wtd. Average Yield 7.56%
Weighted Average Coupon 2.57%
Weighted Average Maturity (Years) 6.4
Floating Rate Loans as a % of Face Amount 100.00%
Delinquent Face Amount (C) 10,380
Total Residential Mortgage Loans Held For Investment
  
Outstanding Face Amount 338,158
Carrying Value (A) 301,370
Loan Count 9,004
Wtd. Average Yield 8.19%
Weighted Average Coupon 8.09%
Weighted Average Maturity (Years) 6.2
Floating Rate Loans as a % of Face Amount 25.10%
Delinquent Face Amount (C) 14,046
Subprime Mortgage Loans Subject to Call
  
Outstanding Face Amount 406,217
Carrying Value (A) $ 405,525