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
Jun. 30, 2013
Integer
Number of Investments 143 [1]
Weighted Average Yield 6.22% [1]
Weighted Average Coupon 3.73% [1]
Weighted Average Maturity (Years) 3 years 3 months 18 days [1],[2]
Mezzanine Loans
  
Outstanding Face Amount $ 430,584
Carrying Value 350,127 [3]
Number of Investments 15
Weighted Average Yield 9.07%
Weighted Average Coupon 8.74%
Weighted Average Maturity (Years) 1 year [4]
Floating Rate Loans as a % of Face Amount 75.70%
Delinquent Face Amount 12,000 [5]
Corporate Bank Loans
  
Outstanding Face Amount 783,448
Carrying Value 363,337 [3]
Number of Investments 7
Weighted Average Yield 14.03%
Weighted Average Coupon 5.72%
Weighted Average Maturity (Years) 1 year 6 months [4]
Floating Rate Loans as a % of Face Amount 72.30%
Delinquent Face Amount    [5]
B-Notes
  
Outstanding Face Amount 110,944
Carrying Value 94,040 [3]
Number of Investments 4
Weighted Average Yield 10.65%
Weighted Average Coupon 5.30%
Weighted Average Maturity (Years) 1 year 1 month 6 days [4]
Floating Rate Loans as a % of Face Amount 79.30%
Delinquent Face Amount    [5]
Whole Loans
  
Outstanding Face Amount 29,923
Carrying Value 29,923 [3]
Number of Investments 2
Weighted Average Yield 4.81%
Weighted Average Coupon 3.78%
Weighted Average Maturity (Years) 0 years 8 months 12 days [4]
Floating Rate Loans as a % of Face Amount 97.30%
Delinquent Face Amount    [5]
Total Real Estate Related Loans Held for Sale
  
Outstanding Face Amount 1,354,899 [6]
Carrying Value 837,427 [3],[6]
Number of Investments 28 [6]
Weighted Average Yield 11.25%
Weighted Average Coupon 6.60%
Weighted Average Maturity (Years) 1 year 3 months 18 days [4]
Floating Rate Loans as a % of Face Amount 74.50%
Delinquent Face Amount 12,000 [5]
Non-Securitized Manufacturing Housing Loan Portfolio I
  
Outstanding Face Amount 565
Carrying Value 146 [3]
Number of Investments 15
Weighted Average Yield 68.47%
Weighted Average Coupon 7.77%
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 2,780
Carrying Value 2,120 [3]
Number of Investments 105
Weighted Average Yield 15.46%
Weighted Average Coupon 10.04%
Weighted Average Maturity (Years) 5 years 3 months 18 days [4]
Floating Rate Loans as a % of Face Amount 9.50%
Delinquent Face Amount 35 [5]
Total Residential Mortgage Loans Held For Sale
  
Outstanding Face Amount 3,345 [7]
Carrying Value 2,266 [3],[7]
Number of Investments 120 [7]
Weighted Average Yield 18.89% [7]
Weighted Average Coupon 9.66% [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 91 [5],[7]
Securitized Manufacturing Housing Loan Portfolio I
  
Outstanding Face Amount 110,589 [7],[8]
Carrying Value 94,909 [3],[7],[8]
Number of Investments 2,984 [7],[8]
Weighted Average Yield 9.45% [7],[8]
Weighted Average Coupon 8.62% [7],[8]
Weighted Average Maturity (Years) 6 years 3 months 18 days [4],[7],[8]
Floating Rate Loans as a % of Face Amount 0.70% [7],[8]
Delinquent Face Amount 1,059 [5],[7],[8]
Securitized Manufacturing Housing Loan Portfolio II
  
Outstanding Face Amount 140,828 [7],[8]
Carrying Value 138,895 [3],[7],[8]
Number of Investments 5,027 [7],[8]
Weighted Average Yield 7.70% [7],[8]
Weighted Average Coupon 9.64% [7],[8]
Weighted Average Maturity (Years) 5 years 6 months [4],[7],[8]
Floating Rate Loans as a % of Face Amount 16.50% [7],[8]
Delinquent Face Amount 2,285 [5],[7],[8]
Residential Loans
  
Outstanding Face Amount 51,886 [7],[8]
Carrying Value 39,528 [3],[7],[8]
Number of Investments 185 [7],[8]
Weighted Average Yield 7.66% [7],[8]
Weighted Average Coupon 2.43% [7],[8]
Weighted Average Maturity (Years) 5 years 10 months 24 days [4],[7],[8]
Floating Rate Loans as a % of Face Amount 100.00% [7],[8]
Delinquent Face Amount 7,455 [5],[7],[8]
Total Residential Mortgage Loans Held For Investment
  
Outstanding Face Amount 303,303
Carrying Value 273,332 [3]
Number of Investments 8,196
Weighted Average Yield 8.30%
Weighted Average Coupon 8.04%
Weighted Average Maturity (Years) 5 years 9 months 18 days [4]
Floating Rate Loans as a % of Face Amount 25.00%
Delinquent Face Amount 10,799 [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 $4.8 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 June 30, 2013, $140.7 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 June 30, 2013.
[7] (D) Loans acquired at a discount for credit quality.
[8] (E) See Aging Schedule of Past Due Residential Loans Held For Investment.