v3.21.2

Real Estate Owned | 9 Months Ended
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Sep. 30, 2021
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 tables detail activity in the Company's carrying value of REO for the three- and nine-month periods ended September 30, 2021 and 2020:
|  | Three-Month Period Ended
|  | September 30, 2021 |  | September 30, 2020
|  | Number of Properties |  | Carrying Value |  | Number of Properties |  | Carrying Value
|  |  |  | (In thousands) |  |  |  | (In thousands)
Beginning Balance (June 30, 2021 and 2020, respectively) |  | 14 |  |  | $ | 35,295 |  |  | 13 |  |  | $ | 24,044 |
Transfers from mortgage loans |  | 4 |  |  | 1,479 |  |  | 4 |  |  | 676 |
Capital expenditures and other adjustments to cost |  |  |  | 312 |  |  |  |  | 27 |
Adjustments to record at the lower of cost or fair value |  |  |  | 699 |  |  |  |  | 147 |
Disposals |  | (3) |  |  | (783) |  |  | (1) |  |  | (100) |
Ending Balance (September 30, 2021 and 2020, respectively) |  | 15 |  |  | $ | 37,002 |  |  | 16 |  |  | $ | 24,794 |
|  | Nine-Month Period Ended
|  | September 30, 2021 |  | September 30, 2020
|  | Number of Properties |  | Carrying Value |  | Number of Properties |  | Carrying Value
|  |  |  | (In thousands) |  |  |  | (In thousands)
Beginning Balance (December 31, 2020 and 2019, respectively) |  | 13 |  |  | $ | 23,598 |  |  | 15 |  |  | $ | 30,584 |
Transfers from mortgage loans |  | 7 |  |  | 14,033 |  |  | 9 |  |  | 2,198 |
Capital expenditures and other adjustments to cost |  |  |  | 2,205 |  |  |  |  | 153 |
Adjustments to record at the lower of cost or fair value |  |  |  | (1,406) |  |  |  |  | (813) |
Disposals |  | (5) |  |  | (1,428) |  |  | (8) |  |  | (7,328) |
Ending Balance (September 30, 2021 and 2020, respectively) |  | 15 |  |  | $ | 37,002 |  |  | 16 |  |  | $ | 24,794 |
During the three-month period ended September 30, 2021, the Company sold three REO properties, realizing a net gain (loss) of approximately $(50) thousand. During the three-month period ended September 30, 2020, the Company sold one REO property, realizing a net gain (loss) of approximately $(18) thousand. During the nine-month period ended September 30, 2021, the Company sold five REO properties, realizing a net gain (loss) of approximately $(63) thousand. During the nine-month period ended September 30, 2020, the Company sold eight REO properties, realizing a net gain (loss) of approximately $0.1 million. Such realized gains (losses) are included in Realized gains (losses) on real estate owned, net, on the Company's Condensed Consolidated Statement of Operations. As of September 30, 2021 and December 31, 2020 all of the Company's REO had been obtained as a result of obtaining physical possession through foreclosure. Of the Company's total REO holdings, $25.6 million and $22.4 million were measured at fair value on a non-recurring basis as of September 30, 2021 and December 31, 2020, respectively.

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- References No definition available. + Details
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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://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=124259787&loc=d3e4437-111522 + Details
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