Quarterly report pursuant to Section 13 or 15(d)

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

v3.3.0.814
REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Schedule of Loans (Details)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
USD ($)
Loan
Financing Receivable, Impaired [Line Items]  
Outstanding Face Amount $ 230,229
Carrying Value $ 142,802 [1]
Loan Count | Loan 7
Mezzanine Loans [Member]  
Financing Receivable, Impaired [Line Items]  
Outstanding Face Amount $ 37,200
Carrying Value $ 19,433 [2]
Loan Count | Loan 3
Weighted Average Yield 8.00%
Weighted Average Coupon 8.27%
Weighted Average Life (Years) 5 months 6 days [3]
Floating Rate Loans as a % of Face Amount 100.00%
Delinquent Face Amount $ 17,767 [4]
Corporate Bank Loans [Member]  
Financing Receivable, Impaired [Line Items]  
Outstanding Face Amount 193,029
Carrying Value $ 123,369 [2]
Loan Count | Loan 4
Weighted Average Yield 22.39%
Weighted Average Coupon 18.32%
Weighted Average Life (Years) 1 year 1 month 6 days [3]
Floating Rate Loans as a % of Face Amount 0.00%
Delinquent Face Amount $ 45,687 [4]
Total Real Estate Related and Other Loans Held-for-Sale, Net [Member]  
Financing Receivable, Impaired [Line Items]  
Outstanding Face Amount 230,229
Carrying Value $ 142,802 [2]
Loan Count | Loan 7
Weighted Average Yield 20.43%
Weighted Average Coupon 16.70%
Weighted Average Life (Years) 1 year 6 days [3]
Floating Rate Loans as a % of Face Amount 16.20%
Delinquent Face Amount $ 63,454 [4]
Total Residential Mortgage Loans Held-For-Sale [Member]  
Financing Receivable, Impaired [Line Items]  
Outstanding Face Amount 925
Carrying Value $ 569 [2]
Loan Count | Loan 4
Weighted Average Yield 69.30%
Weighted Average Coupon 2.83%
Weighted Average Life (Years) 1 year 8 months 6 days [3]
Floating Rate Loans as a % of Face Amount 100.00%
Delinquent Face Amount $ 766 [4],[5]
Subprime Mortgage Loans Subject to Call [Member]  
Financing Receivable, Impaired [Line Items]  
Outstanding Face Amount 392,342
Carrying Value $ 392,342 [2]
[1] Based on the final extended maturity date of each loan investment as of September 30, 2015.
[2] Carrying value includes negligible interest receivable for the residential housing loans.
[3] The weighted average life is based on the timing of expected principal reduction on the assets.
[4] 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, 2015, $63.5 million face amount of real estate related and other loans was on non-accrual status.
[5] Loans acquired at a discount for credit quality.