Quarterly report pursuant to Section 13 or 15(d)

REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Schedule of Loans (Details)

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REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Schedule of Loans (Details) (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Loans
Mezzanine Loans [Member]
  
Outstanding face amount $ 132,053
Carrying value 99,666
Loan Count 7
Weighted Average Yield 7.25%
Weighted Average Coupon 7.20%
Weighted Average Life (Years) 1 year 2 months 12 days [1]
Floating Rate Loans as a % of Face Amount 71.60%
Delinquent face amount 12,000 [2]
Corporate Bank Loans [Member]
  
Outstanding face amount 169,659
Carrying value 106,296
Loan Count 5
Weighted Average Yield 21.84%
Weighted Average Coupon 13.19%
Weighted Average Life (Years) 1 year 9 months 18 days [1]
Floating Rate Loans as a % of Face Amount 0.06%
B-Notes [Member]
  
Outstanding face amount 22,067
Carrying value 18,761
Loan Count 1
Weighted Average Yield 12.00%
Weighted Average Coupon 7.32%
Weighted Average Life (Years) 4 years 3 months 18 days [1]
Floating Rate Loans as a % of Face Amount 0.00%
Whole Loans [Member]
  
Outstanding face amount 269
Carrying value 269
Loan Count 1
Weighted Average Yield 4.00%
Weighted Average Coupon 7.48%
Weighted Average Life (Years) 0 years 4 months 24 days [1]
Floating Rate Loans as a % of Face Amount 0.00%
Total Real Estate Related and Other Loans Held-for-Sale, Net [Member]
  
Outstanding face amount 324,048
Carrying value 224,992
Loan Count 14
Weighted Average Yield 14.53%
Weighted Average Coupon 10.34%
Weighted Average Life (Years) 1 year 8 months 12 days [1]
Floating Rate Loans as a % of Face Amount 29.50%
Delinquent face amount 12,000 [2],[3]
Residential Loans [Member]
  
Outstanding face amount 4,686 [4]
Carrying value 4,036 [5]
Loan Count 8
Weighted Average Yield 7.74%
Weighted Average Coupon 1.84%
Weighted Average Life (Years) 1 year 8 months 12 days [1]
Floating Rate Loans as a % of Face Amount 100.00%
Delinquent face amount 1,105 [2]
Total Residential Mortgage Loans Held-for-Sale, Net [Member]
  
Outstanding face amount 4,686
Carrying value 4,036
Loan Count 8
Weighted Average Yield 7.74%
Weighted Average Coupon 1.84%
Weighted Average Life (Years) 1 year 8 months 12 days [1]
Floating Rate Loans as a % of Face Amount 100.00%
Delinquent face amount 1,105 [2]
Subprime Mortgage Loans Subject to Call [Member]
  
Outstanding face amount 406,217
Carrying value $ 406,217
[1] The weighted average life is based on the timing of expected principal reduction on the assets.
[2] 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, 2014, $76.5 million face amount of real estate related and other loans was on non-accrual status.
[3] Includes loans that are non-performing, in foreclosure, or under bankruptcy.
[4] Loans acquired at a discount for credit quality.
[5] Carrying value includes negligible interest receivable for the residential housing loans.