v3.19.3

Real Estate Owned | 9 Months Ended
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Sep. 30, 2019
Real Estate Owned, Disclosure of Detailed Components [Abstract] |
Real Estate Owned | Real Estate Owned As discussed in Note 2, the Company obtains possession of REO as a result of foreclosures on the associated mortgage loans. The following table details activity in the Company's carrying value of REO for the three- and nine-month periods ended September 30, 2019.
|  | Three-Month Period Ended September 30, 2019 |  | Nine-Month Period Ended September 30, 2019
|  | Number of Properties |  | Carrying Value |  | Number of Properties |  | Carrying Value
|  |  |  | (In thousands) |  |  |  | (In thousands)
Beginning Balance (6/30/2019 and 1/1/2019, respectively) |  | 20 |  |  | $ | 47,621 |  |  | 20 |  |  | $ | 30,778 |
Transfers from mortgage loans |  | 1 |  |  | 601 |  |  | 5 |  |  | 18,314 |
Capital expenditures and other adjustments to cost |  |  |  | — |  |  |  |  | 240 |
Adjustments to record at the lower of cost or fair value |  |  |  | 6 |  |  |  |  | (257 | )
Disposals |  | (7 | ) |  | (3,805 | ) |  | (11 | ) |  | (4,652 | )
Ending Balance (9/30/2019) |  | 14 |  |  | $ | 44,423 |  |  | 14 |  |  | $ | 44,423 |
During the three-month period ended September 30, 2019, the Company sold seven REO properties, realizing a net gain (loss) of approximately $1.2 million. During the nine-month period ended September 30, 2019, the Company sold eleven REO properties, realizing a net gain (loss) of approximately $1.2 million. Such realized gains (losses) are included in R ealized gains (losses) on real estate owned, net, on the Company's Condensed Consolidated Statement of Operations. As of September 30, 2019 all of the Company's REO had been obtained as a result of obtaining physical possession through foreclosure. As of September 30, 2019, the Company had REO measured at fair value on a non-recurring basis of $20.0 million.

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- Definition The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 43 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1739-110224 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114775070&loc=d3e18511-111553 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=82891408&loc=d3e4437-111522 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(8)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1424-110224 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(10)(4)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=114775070&loc=d3e18551-111553 + Details
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