| 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 |
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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 |
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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 | % |
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| 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 |
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| | (1) | Represents a loan where the borrower is currently making payments and is expected to continue to make payments |
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