XML 123 R55.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Loans and Investments, Investment Portfolio and Concentration of Credit Risk (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
item
loan
Dec. 31, 2018
USD ($)
item
loan
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Loans and Investments        
Loans and investments, gross $ 4,279,611 $ 3,283,342    
Allowance for loan losses (71,069) (71,069) $ (62,783) $ (83,712)
Unearned revenue (18,582) (12,128)    
Loans and investments, net $ 4,189,960 $ 3,200,145    
Percent of Total 100.00% 100.00%    
Loan Count | loan 272 190    
Wtd. Avg. Pay Rate (as a percent) 5.98% 7.02%    
Wtd. Avg. Remaining Months to Maturity 22 months 3 days 22 months    
Wtd. Avg. First Dollar LTV Ratio (as percent) 4.00% 5.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 76.00% 75.00%    
Number of loans and investments | loan 8 8    
Carrying value of loans $ 4,279,611      
Higher-risk        
Loans and Investments        
Wtd. Avg. Last Dollar LTV Ratio (as percent) 98.00% 99.00%    
Carrying value of loans $ 127,600 $ 128,700    
Total assets | Credit risk concentration        
Loans and Investments        
Loan Count | loan 24 45    
Number of different borrowers | item 5 5    
Concentration risk, percentage 13.00% 22.00%    
Bridge loans        
Loans and Investments        
Loans and investments, gross $ 3,836,832 $ 2,992,814    
Percent of Total 90.00% 91.00%    
Loan Count | loan 217 167    
Wtd. Avg. Pay Rate (as a percent) 5.77% 6.84%    
Wtd. Avg. Remaining Months to Maturity 18 months 18 months 15 days    
Wtd. Avg. First Dollar LTV Ratio (as percent) 0.00% 0.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 75.00% 74.00%    
Carrying value of loans $ 3,836,832      
Bridge loans | Single-Family Rental        
Loans and Investments        
Number of loans under the loan portfolio | loan 11      
Total loan commitment $ 66,700      
Unpaid principal balance, funded $ 30,000      
Bridge loans | Purchased Loans [Member]        
Loans and Investments        
Number of loans under the loan portfolio | loan 9      
Mezzanine loans        
Loans and Investments        
Loans and investments, gross $ 191,575 $ 108,867    
Percent of Total 4.00% 3.00%    
Loan Count | loan 24 13    
Wtd. Avg. Pay Rate (as a percent) 9.70% 10.57%    
Wtd. Avg. Remaining Months to Maturity 36 months 21 days 22 months 3 days    
Wtd. Avg. First Dollar LTV Ratio (as percent) 22.00% 28.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 73.00% 72.00%    
Preferred equity investments        
Loans and Investments        
Loans and investments, gross $ 181,058 $ 181,661    
Percent of Total 4.00% 6.00%    
Loan Count | loan 10 10    
Wtd. Avg. Pay Rate (as a percent) 7.62% 7.97%    
Wtd. Avg. Remaining Months to Maturity 68 months 24 days 78 months    
Wtd. Avg. First Dollar LTV Ratio (as percent) 69.00% 66.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 89.00% 89.00%    
Carrying value of loans     $ 34,800  
Other        
Loans and Investments        
Loans and investments, gross $ 70,146      
Percent of Total 2.00%      
Loan Count | loan 21      
Wtd. Avg. Pay Rate (as a percent) 2.88%      
Wtd. Avg. Remaining Months to Maturity 84 months 24 days      
Wtd. Avg. First Dollar LTV Ratio (as percent) 0.00%      
Wtd. Avg. Last Dollar LTV Ratio (as percent) 70.00%      
Other | Single-Family Rental        
Loans and Investments        
Number of loans under the loan portfolio | loan 12      
Total loan commitment $ 41,600      
Other | Purchased Loans [Member]        
Loans and Investments        
Total loan commitment $ 28,600