Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE - Loan Valuation (Details 7)

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FAIR VALUE - Loan Valuation (Details 7) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Dec. 31, 2013
Outstanding Face Amount $ 532,730 [1],[2]    
Real estate related loans and other loans, held-for-sale, net 313,250   437,530
Residential mortgage loans, held-for-sale, net 248,299   2,185
Valuation allowance (reversal) on loans 1,246 2,234  
Mezzanine Loans [Member]
      
Outstanding Face Amount 157,519    
Real estate related loans and other loans, held-for-sale, net 125,071    
Fair Value 128,324    
Discount Rate Input Range 5.0%-9.0%    
Loss Severity Input Range 0.0%-100.0%    
Discount Rate Weighted Average 7.00%    
Loss Severity Weighted Average 18.90%    
Corporate Bank Loans [Member]
      
Outstanding Face Amount 174,806    
Real estate related loans and other loans, held-for-sale, net 97,244    
Fair Value 106,086    
Valuation allowance (reversal) on loans 1,607    
Discount Rate Input Range 16.6%-42.1%    
Loss Severity Input Range 0.0%-100.0%    
Discount Rate Weighted Average 22.00%    
Loss Severity Weighted Average 34.10%    
B-Notes [Member]
      
Outstanding Face Amount 96,033    
Real estate related loans and other loans, held-for-sale, net 90,445    
Fair Value 90,444    
Valuation allowance (reversal) on loans (1,175)    
Discount Rate Input Range 8.2%-12.0%    
Loss Severity Input Range 0.0%    
Discount Rate Weighted Average 11.10%    
Whole Loans [Member]
      
Outstanding Face Amount 490    
Real estate related loans and other loans, held-for-sale, net 490    
Fair Value 499    
Discount Rate Input Range 4.0%    
Loss Severity Input Range 0.0%    
Discount Rate Weighted Average 4.10%    
Total Real Estate Related and Other Loans Held for Sale [Member]
      
Outstanding Face Amount 428,848    
Real estate related loans and other loans, held-for-sale, net 313,250    
Fair Value 325,353    
Valuation allowance (reversal) on loans 432    
Non-Securitized Manufacturing Housing Loan Portfolio I [Member]
      
Outstanding Face Amount 496    
Residential mortgage loans, held-for-sale, net 130 [3]    
Fair Value 521 [3]    
Valuation allowance (reversal) on loans (3)    
Discount Rate Weighted Average 82.00%    
Prepayment Speed Weighted Average 5.00%    
Cumulative Default Rate Weighted Average 11.60%    
Loss Severity Weighted Average 65.00%    
Non-Securitized Manufacturing Housing Loan Portfolio II [Member]
      
Outstanding Face Amount 2,511    
Residential mortgage loans, held-for-sale, net 2,048 [3]    
Fair Value 2,726 [3]    
Valuation allowance (reversal) on loans (16)    
Discount Rate Weighted Average 15.40%    
Prepayment Speed Weighted Average 5.00%    
Cumulative Default Rate Weighted Average 3.50%    
Loss Severity Weighted Average 60.00%    
Securitized Manufacturing Housing Loan Portfolio I [Member]
      
Outstanding Face Amount 98,925    
Residential mortgage loans, held-for-sale, net 89,113 [3]    
Fair Value 104,991 [3]    
Valuation allowance (reversal) on loans (3)    
Discount Rate Weighted Average 9.50%    
Prepayment Speed Weighted Average 6.00%    
Cumulative Default Rate Weighted Average 3.00%    
Loss Severity Weighted Average 65.00%    
Securitized Manufacturing Housing Loan Portfolio II [Member]
      
Outstanding Face Amount 123,611    
Residential mortgage loans, held-for-sale, net 123,277 [3]    
Fair Value 131,529 [3]    
Valuation allowance (reversal) on loans 437    
Discount Rate Weighted Average 8.30%    
Prepayment Speed Weighted Average 7.00%    
Cumulative Default Rate Weighted Average 3.50%    
Loss Severity Weighted Average 60.00%    
Residential Mortgage Loans [Member]
      
Outstanding Face Amount 44,941    
Residential mortgage loans, held-for-sale, net 33,731 [3]    
Fair Value 38,550 [3]    
Valuation allowance (reversal) on loans 399    
Discount Rate Weighted Average 7.00%    
Prepayment Speed Weighted Average 4.60%    
Cumulative Default Rate Weighted Average 2.70%    
Loss Severity Weighted Average 45.80%    
Total Residential Mortgage Loans Held For Sale [Member]
      
Outstanding Face Amount 270,484    
Residential mortgage loans, held-for-sale, net 248,299 [3]    
Fair Value 278,317 [3]    
Valuation allowance (reversal) on loans $ 814    
[1] The total outstanding face amount was $340.6 million for fixed rate securities and $192.1 million for floating rate securities.
[2] Net of incurred losses.
[3] Carrying value and fair value include interest receivable of $0.1 million for the residential housing loans and principal and interest receivable of $5.2 million for the manufactured housing loans.