v3.20.1

Investments in Unconsolidated Entities | 3 Months Ended
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Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract] |
Investments in Unconsolidated Entities | Investments in Unconsolidated Entities The Company has various equity investments in entities where it has the ability to exert significant influence over such entity, but does not control such entity. In these cases the criteria for consolidation have not been met and the Company is required to account for such investments under ASC 323-10; the Company has elected the FVO for its investments in unconsolidated entities. As of March 31, 2020 and December 31, 2019, the Company's investments in unconsolidated entities had an aggregate fair value of $65.4 million and $71.9 million, respectively, which is included on the Condensed Consolidated Balance Sheet in Investments in unconsolidated entities, at fair value. For the three-month periods ended March 31, 2020 and 2019, the Company recognized $(6.5) million and $1.8 million, respectively, in Earnings (losses) from investments in unconsolidated entities, on its Condensed Consolidated Statement of Operations. Certain of the entities that the Company accounts for under ASC 323-10 are deemed to be VIEs, and the maximum amount at risk is generally limited to the Company's investment in the VIE. As of March 31, 2020 and December 31, 2019, the fair value of the Company's investments in unconsolidated entities that have been deemed to be VIEs was $25.0 million and $28.5 million. The following table provides details about the Company's investments in unconsolidated entities as of March 31, 2020 and December 31, 2019:
|  |  |  | Percentage Ownership of Unconsolidated Entity
Investment in Unconsolidated Entity |  | Form of Investment |  | March 31, 2020 |  | December 31, 2019
Longbridge Financial, LLC(1) |  | Preferred shares |  | 49.7% |  | 49.7%
LendSure Mortgage Corp.(1) |  | Common shares |  | 49.9% |  | 49.9%
Jepson Holdings Limited(1) |  | Membership Interest |  | 30.1% |  | 30.1%
Elizon AFG 2018-1 LLC(1)(2) |  | Membership Interest |  | 10.9% |  | 13.4%
Elizon DB 2015-1 LLC(1)(2) |  | Membership Interest |  | 7.6% |  | 3.5%
Other |  | Various |  | 7.1%–51.0% |  | 7.7%–51.0%
(1) | See Note 13 for additional details on the Company's related party transactions.
(2) The Company has evaluated this entity and determined that it meets the definition of a VIE. The Company evaluated its interest in the VIE and determined that the Company does not have the power to direct the activities of the VIE and does not have control of the underlying assets, where applicable. As a result, the Company determined that it is not the primary beneficiary of this VIE and therefore has not consolidated the VIE.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SX 210.3A-04) -URI http://asc.fasb.org/extlink&oid=116822174&loc=d3e355119-122828 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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