v3.19.1

Investment in Loans (Tables) | 3 Months Ended
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Mar. 31, 2019
Receivables [Abstract] |
Summary of Investments in Loans | The following table is a summary of the Company's investments in loans as of March 31, 2019:
Loan Type |  | Unpaid Principal Balance |  | Fair Value
|  | (In thousands)
Residential mortgage loans |  | $ | 577,880 |  |  | $ | 583,252 |
Commercial mortgage loans |  | 264,932 |  |  | 239,623 |
Consumer loans |  | 184,171 |  |  | 192,115 |
Total |  | $ | 1,026,983 |  |  | $ | 1,014,990 |
Commercial Mortgage Loans The table below details certain information regarding the Company's commercial mortgage loans as of March 31, 2019:
|  |  |  |  |  |  |  | Gross Unrealized |  |  |  | Weighted Average
($ in thousands) |  | Unpaid Principal Balance |  | Premium (Discount) |  | Amortized Cost |  | Gains |  | Losses |  | Fair Value |  | Coupon |  | Yield |  | Life (Years)(1)
Commercial mortgage loans |  | $ | 264,932 |  |  | $ | (27,249 | ) |  | $ | 237,683 |  |  | $ | 2,131 |  |  | $ | (191 | ) |  | $ | 239,623 |  |  | 8.92 | % |  | 9.44 | % |  | 0.95
(1) | Average lives of loans are generally shorter than stated contractual maturities. Average lives are affected by scheduled periodic payments of principal and unscheduled prepayments of principal.
The table below summarizes the geographic distribution of the real estate collateral underlying the Company's commercial mortgage loans as of March 31, 2019:
Property Location by State |  | Percentage of Total Outstanding Unpaid Principal Balance
Florida |  | 20.1 | %
Connecticut |  | 18.7 | %
New York |  | 12.7 | %
New Jersey |  | 10.4 | %
North Carolina |  | 7.3 | %
Virginia |  | 7.1 | %
Massachusetts |  | 4.9 | %
Pennsylvania |  | 4.3 | %
Arizona |  | 4.0 | %
Indiana |  | 3.8 | %
Kentucky |  | 3.8 | %
Tennessee |  | 1.5 | %
Louisiana |  | 1.4 | %
|  | 100.0 | %
The following table presents information on the Company's residential mortgage loans by re-performing or non-performing status, as of March 31, 2019.
(In thousands) |  | Unpaid Principal Balance |  | Fair Value
Re-performing |  | $ | 35,616 |  |  | $ | 31,816 |
Non-performing |  | 15,795 |  |  | 13,678 |
The table below details certain information regarding the Company's consumer loans as of March 31, 2019:
|  |  |  |  |  |  |  | Gross Unrealized |  |  |  | Weighted Average
($ in thousands) |  | Unpaid Principal Balance |  | Premium (Discount) |  | Amortized Cost |  | Gains |  | Losses |  | Fair Value |  | Life (Years)(1) |  | Delinquency (Days)
Consumer loans |  | $ | 184,171 |  |  | $ | 6,912 |  |  | $ | 191,083 |  |  | $ | 2,623 |  |  | $ | (1,591 | ) |  | $ | 192,115 |  |  | 0.78 |  | 3
(1) | Average lives of loans are generally shorter than stated contractual maturities. Average lives are affected by scheduled periodic payments of principal and unscheduled prepayments of principal.
The table below details certain information regarding the Company's residential mortgage loans as of March 31, 2019:
|  |  |  |  |  |  |  | Gross Unrealized |  |  |  | Weighted Average
($ in thousands) |  | Unpaid Principal Balance |  | Premium (Discount) |  | Amortized Cost |  | Gains |  | Losses |  | Fair Value |  | Coupon |  | Yield |  | Life (Years)(1)
Residential mortgage loans, held-for-investment(2) |  | $ | 555,386 |  |  | $ | 4,470 |  |  | $ | 559,856 |  |  | $ | 4,368 |  |  | $ | (1,461 | ) |  | $ | 562,763 |  |  | 6.49 | % |  | 5.68 | % |  | 1.95
Residential mortgage loans, held-for-sale |  | 22,494 |  |  | (3,344 | ) |  | 19,150 |  |  | 1,520 |  |  | (181 | ) |  | 20,489 |  |  | 4.66 | % |  | 6.37 | % |  | 5.48
Total |  | $ | 577,880 |  |  | $ | 1,126 |  |  | $ | 579,006 |  |  | $ | 5,888 |  |  | $ | (1,642 | ) |  | $ | 583,252 |  |  | 6.42 | % |  | 5.70 | % |  | 2.07
(1) | Average lives of loans are generally shorter than stated contractual maturities. Average lives are affected by scheduled periodic payments of principal and unscheduled prepayments of principal.
(2) | Includes $296.4 million of non-QM loans that have been securitized and are held in consolidated securitization trusts; see Note 10.
The table below summarizes the geographic distribution of the real estate collateral underlying the Company's residential mortgage loans as of March 31, 2019:
Property Location by State |  | Percentage of Total Outstanding Unpaid Principal Balance
California |  | 48.3 | %
Florida |  | 12.9 | %
Texas |  | 12.7 | %
Colorado |  | 4.4 | %
Arizona |  | 2.8 | %
Oregon |  | 2.4 | %
New York |  | 2.2 | %
Washington |  | 2.2 | %
Nevada |  | 2.1 | %
Utah |  | 1.5 | %
New Jersey |  | 1.3 | %
Maryland |  | 1.1 | %
Other |  | 6.1 | %
|  | 100.0 | %
Summary of Loans Past Due | The table below provides details on the delinquency status of the Company's consumer loans, which the Company uses as an indicator of credit quality, as of March 31, 2019:
Days Past Due |  | Delinquency Status(1)
Current |  | 95.9 | %
30-59 Days |  | 1.7 | %
60-89 Days |  | 1.3 | %
90-119 Days |  | 1.1 | %
|  | 100.0 | %
The following table provides details, by accrual status, for loans that are 90 days or more past due as of March 31, 2019:
|  | Unpaid Principal Balance |  | Fair Value
90 days or more past due—accrual status |  | (In thousands)
Commercial mortgage loans(1) |  | $ | 6,491 |  |  | $ | 6,491 |
90 days or more past due—non-accrual status |  |  |  |
Residential mortgage loans |  | 18,582 |  |  | 16,110 |
Commercial mortgage loans |  | 16,050 |  |  | 16,050 |
Consumer loans |  | 2,046 |  |  | 2,025 |
(1) | Represents a loan where the borrower is currently making payments and is expected to continue to make payments

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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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