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Other Assets (Tables) | 3 Months Ended
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Mar. 31, 2021
Other Assets [Abstract] |
Schedule of other assets | The following table presents the components of the Company’s Other assets at March 31, 2021 and December 31, 2020:
(In Thousands) |  | March 31, 2021 |  | December 31, 2020
REO (1) |  | $ | 220,393 |  |  | $ | 249,699 |
Capital contributions made to loan origination partners |  | 81,374 |  |  | 47,148 |
Interest receivable |  | 35,989 |  |  | 38,850 |
Other MBS and loan related receivables |  | 23,403 |  |  | 16,682 |
Other |  | 31,567 |  |  | 33,002 |
Total Other Assets |  | $ | 392,726 |  |  | $ | 385,381 |
(1) Includes $61.1 million and $61.8 million of REO that is held-for-investment at March 31, 2021 and December 31, 2020, respectively.
Schedule of activity for real estate owned | The following table presents the activity in the Company’s REO for the three months ended March 31, 2021 and 2020:
|  | Three Months Ended March 31, |  |
(In Thousands) |  | 2021 |  | 2020 |  |  |  |
Balance at beginning of period |  | $ | 249,699 |  |  | $ | 411,659 |  |  |  |  |
Adjustments to record at lower of cost or fair value |  | (874) |  |  | (4,750) |  |  |  |  |
Transfer from residential whole loans (1) |  | 20,068 |  |  | 50,693 |  |  |  |  |
Purchases and capital improvements, net |  | 217 |  |  | 5,809 |  |  |  |  |
Disposals (2) |  | (48,386) |  |  | (51,735) |  |  |  |  |
Depreciation |  | (331) |  |  | (203) |  |  |  |  |
Balance at end of period |  | $ | 220,393 |  |  | $ | 411,473 |  |  |  |  |
Number of properties |  | 835 |  |  | 1,622 |  |  |  |  |
(1)Includes net gain recorded on transfer of approximately $1.1 million and $3.0 million for the three months ended March 31, 2021 and 2020, respectively. (2)During the three months ended March 31, 2021 and 2020, the Company sold 177 and 249 REO properties for consideration of $50.6 million and $54.8 million, realizing net gains of approximately $2.2 million and $3.1 million, respectively. These amounts are included in Other Income, net on the Company’s consolidated statements of operations.
Schedule of interest expense and the weighted average interest rate paid and received on swaps | The following table presents the net impact of the Company’s derivative hedging instruments on its net interest expense and the weighted average interest rate paid and received for such Swaps for the three months ended March 31, 2021 and 2020:
|  | Three Months Ended March 31, |  |
(Dollars in Thousands) |  | 2021 |  | 2020 |  |  |  |
Interest (expense)/income attributable to Swaps |  | $ | — |  |  | $ | (3,359) |  |  |  |  |
Weighted average Swap rate paid |  | — | % |  | 2.09 | % |  |  |  |
Weighted average Swap rate received |  | — | % |  | 1.65 | % |  |  |  |
Schedule of impact of hedging instruments on AOCI | The following table presents the impact of the Company’s derivative hedging instruments on its AOCI for the three months ended March 31, 2021 and 2020:
|  | Three Months Ended March 31, |  |
(In Thousands) |  | 2021 |  | 2020 |  |  |  |
AOCI from derivative hedging instruments: |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | — |  |  | $ | (22,675) |  |  |  |  |
Net loss on Swaps |  | — |  |  | (50,127) |  |  |  |  |
Reclassification adjustment for losses/gains related to hedging instruments included in net income |  | — |  |  | 1,594 |  |  |  |  |
Balance at end of period |  | $ | — |  |  | $ | (71,208) |  |  |  |  |

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- Definition Tabular disclosure of the net impact of derivative hedging instruments on the entity's interest expense and the weighted average rates paid and received during the current period. + References No definition available. + Details
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- Definition Tabular disclosure of the change in other real estate on properties owned. Excludes real estate assets taken in settlement of troubled loans through surrender or foreclosure by banks. + References No definition available. + Details
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- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
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