XML 52 R41.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Use of Special Purpose Entities and Variable Interest Entities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2017
Variable Interest Entity [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the estimated fair values of the assets and liabilities of Riverchase Landing and The Clusters at the Changeover Date (dollar amounts in thousands). The estimated fair values shown below are provisional measurements that are based upon preliminary financial information provided by Riverchase Landing and The Clusters and are subject to change.
Cash | $ | 112 |
Operating real estate (1) | 62,322 |
Lease intangibles (1) | 5,340 |
Receivables and other assets | 2,260 |
Total assets | 70,034 |
Mortgages payable | 51,570 |
Accrued expenses and other liabilities | 1,519 |
Total liabilities | 53,089 |
Non-controlling interest (2) | 4,462 |
Net assets consolidated | $ | 12,483 |
(1) | Reclassified to real estate held for sale in consolidated variable interest entities on the condensed consolidated balance sheets (see Note 11).
(2) | Represents third party ownership of membership interests in Riverchase Landing and The Clusters. The fair value of the non-controlling interests in Riverchase Landing and The Clusters, both private companies, was estimated using assumptions for the timing and amount of expected future cash flows from the underlying multi-family apartment communities and a discount rate.
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed by the Company at the Acquisition Date (dollar amounts in thousands). The membership interest purchase agreement for the acquisition of RiverBanc included a post-closing working capital adjustment that was calculated at $20 thousand and settled with the sellers of RiverBanc on July 15, 2016. Additionally, the excess severance holdback amount described above was settled with the sellers of RiverBanc on July 15, 2016. The Company engaged a third party for valuations of certain intangible assets.
Cash | $ | 4,325 |
Investment in unconsolidated entities | 52,176 |
Mezzanine loan and preferred equity investments | 23,638 |
Real estate under development (1) | 14,922 |
Receivables and other assets | 911 |
Intangible assets (1) | 3,490 |
Total identifiable assets acquired | 99,462 |
Construction loan payable (2) | 8,499 |
Accrued expenses and other liabilities | 2,864 |
Total liabilities assumed | 11,363 |
Preferred equity (3) | 56,697 |
Net identifiable assets acquired | 31,402 |
Goodwill (4) | 25,222 |
Gain on bargain purchase (5) | (65 | )
Non-controlling interest (6) | (3,078 | )
Net assets acquired | $ | 53,481 |
(1) | Included in receivables and other assets on the condensed consolidated balance sheets.
(2) | Construction loan payable to the Company is eliminated on the condensed consolidated balance sheets.
(3) | Includes $40.4 million of preferred equity owned by the Company that is eliminated on the condensed consolidated balance sheets. Remaining $16.3 million of preferred equity owned by third parties was redeemed on June 10, 2016 and June 24, 2016.
(4) | Goodwill recognized in the acquisition of RiverBanc.
(5) | Gain on bargain purchase recognized in the acquisitions of RBMI and RBDHC in the year ended December 31, 2016.
(6) | Represents third-party ownership of KRVI membership interests (see Note 10). The Company consolidates its investment in KRVI. The third-party ownership in KRVI is represented in the condensed consolidated financial statements and the pro forma net income attributable to the Company's common stockholders as non-controlling interests. The fair value of the non-controlling interests in KRVI was estimated to be $3.1 million. The fair value of the non-controlling interests in KRVI, a private company, was estimated using assumptions for the timing and amount of expected future cash flow for income and realization events for the underlying real estate.
Schedule of Assets and Liabilities of Consolidated VIE's | The following table presents the carrying value and estimated fair value of the Company’s financial instruments at September 30, 2017 and December 31, 2016, respectively (dollar amounts in thousands):
|  |  | September 30, 2017 |  | December 31, 2016
| Fair Value Hierarchy Level |  | Carrying Value |  | Estimated Fair Value |  | Carrying Value |  | Estimated Fair Value
Financial Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | Level 1 |  | $ | 101,904 |  |  | $ | 101,904 |  |  | $ | 83,554 |  |  | $ | 83,554 |
Investment securities available for sale (1) | Level 1, 2 or 3 |  | 674,161 |  |  | 674,161 |  |  | 818,976 |  |  | 818,976 |
Residential mortgage loans held in securitization trusts (net) | Level 3 |  | 79,875 |  |  | 77,412 |  |  | 95,144 |  |  | 88,718 |
Distressed residential mortgage loans, at carrying value (2) | Level 3 |  | 369,651 |  |  | 374,169 |  |  | 503,094 |  |  | 504,915 |
Residential mortgage loans, at fair value | Level 3 |  | 69,512 |  |  | 69,512 |  |  | 17,769 |  |  | 17,769 |
Multi-family loans held in securitization trusts | Level 3 |  | 8,399,334 |  |  | 8,399,334 |  |  | 6,939,844 |  |  | 6,939,844 |
Derivative assets | Level 1 or 2 |  | 182,115 |  |  | 182,115 |  |  | 150,296 |  |  | 150,296 |
Mortgage loans held for sale (net) (3) | Level 3 |  | 6,797 |  |  | 6,899 |  |  | 7,847 |  |  | 7,959 |
Mortgage loans held for investment (3) | Level 3 |  | 1,760 |  |  | 1,900 |  |  | 19,529 |  |  | 19,641 |
Mezzanine loan and preferred equity investments (4) | Level 3 |  | 122,578 |  |  | 124,436 |  |  | 100,150 |  |  | 101,408 |
Investment in unconsolidated entities (5) | Level 3 |  | 51,268 |  |  | 51,342 |  |  | 79,259 |  |  | 79,390 |
Receivable for securities sold | Level 1 |  | 1,261 |  |  | 1,261 |  |  | — |  |  | — |
Financial Liabilities: |  |  |  |  |  |  |  |  |
Financing arrangements, portfolio investments | Level 2 |  | 608,304 |  |  | 608,304 |  |  | 773,142 |  |  | 773,142 |
Financing arrangements, residential mortgage loans | Level 2 |  | 160,562 |  |  | 160,562 |  |  | 192,419 |  |  | 192,419 |
Residential collateralized debt obligations | Level 3 |  | 76,867 |  |  | 72,428 |  |  | 91,663 |  |  | 85,568 |
Multi-family collateralized debt obligations | Level 3 |  | 7,990,619 |  |  | 7,990,619 |  |  | 6,624,896 |  |  | 6,624,896 |
Securitized debt | Level 3 |  | 98,371 |  |  | 105,768 |  |  | 158,867 |  |  | 163,884 |
Derivative liabilities | Level 1 or 2 |  | 467 |  |  | 467 |  |  | 498 |  |  | 498 |
Payable for securities purchased | Level 1 |  | 181,718 |  |  | 181,718 |  |  | 148,015 |  |  | 148,015 |
Subordinated debentures | Level 3 |  | 45,000 |  |  | 44,989 |  |  | 45,000 |  |  | 43,132 |
Convertible notes | Level 2 |  | 128,273 |  |  | 138,697 |  |  | — |  |  | — |
(1) | Includes $46.6 million and $43.9 million of investment securities for sale held in securitization trusts as of September 30, 2017 and December 31, 2016, respectively.
(2) | Includes distressed residential mortgage loans held in securitization trusts with a carrying value amounting to approximately $134.0 million and $195.3 million at September 30, 2017 and December 31, 2016, respectively, and distressed residential mortgage loans with a carrying value amounting to approximately $235.7 million and $307.7 million at September 30, 2017 and December 31, 2016, respectively.
(3) | Included in receivables and other assets in the accompanying condensed consolidated balance sheets.
(4) | Includes mezzanine loan and preferred equity investments accounted for as loans (see Note 9).
(5) | Includes investments in unconsolidated entities accounted for under the fair value option with a carrying value of $41.0 million and $60.3 million at September 30, 2017 and December 31, 2016, respectively (see Note 8).
Summary of Classification and Carrying Value of Unconsolidated VIE's | Mezzanine loan and preferred equity investments consist of the following as of September 30, 2017 and December 31, 2016 (dollar amounts in thousands):
| September 30, 2017 |  | December 31, 2016
Investment amount | $ | 124,172 |  |  | $ | 101,154 |
Deferred loan fees, net | (1,594 | ) |  | (1,004 | )
Total | $ | 122,578 |  |  | $ | 100,150 |
The geographic concentrations of credit risk exceeding 5% of the total mezzanine loan and preferred equity investment amounts as of September 30, 2017 and December 31, 2016 are as follows:
| September 30, 2017 |  | December 31, 2016
Texas | 27.5 | % |  | 43.3 | %
New York | 21.6 | % |  | — |
Virginia | 12.3 | % |  | 14.9 | %
South Carolina | 7.9 | % |  | 9.4 | %
Kentucky | 5.9 | % |  | 7.2 | %
The following tables present the classification and carrying value of unconsolidated VIEs as of September 30, 2017 and December 31, 2016 (dollar amounts in thousands):
| September 30, 2017
| Investment securities, available for sale, at fair value |  | Receivables and other assets |  | Mezzanine loan and preferred equity investments |  | Investment in unconsolidated entities |  | Total
Multi-family CMBS | $ | 46,623 |  |  | $ | 73 |  |  | $ | — |  |  | $ | — |  |  | $ | 46,696 |
Mezzanine loan on multi-family properties | — |  |  | — |  |  | 6,875 |  |  | — |  |  | 6,875 |
Preferred equity investment on multi-family properties | — |  |  | — |  |  | 115,703 |  |  | 10,242 |  |  | 125,945 |
Equity investment in entities that invest in multi-family properties | — |  |  | — |  |  | — |  |  | 24,056 |  |  | 24,056 |
Total assets | $ | 46,623 |  |  | $ | 73 |  |  | $ | 122,578 |  |  | $ | 34,298 |  |  | $ | 203,572 |
| December 31, 2016
| Investment securities, available for sale, at fair value |  | Receivables and other assets |  | Mezzanine loan and preferred equity investments |  | Investment in unconsolidated entities |  | Total
Multi-family CMBS | $ | 43,897 |  |  | $ | 74 |  |  | $ | — |  |  | $ | — |  |  | $ | 43,971 |
Mezzanine loan on multi-family properties | — |  |  | — |  |  | 18,881 |  |  | — |  |  | 18,881 |
Preferred equity investment on multi-family properties | — |  |  | — |  |  | 81,269 |  |  | 18,928 |  |  | 100,197 |
Equity investment in entities that invest in multi-family properties | — |  |  | — |  |  | — |  |  | 22,252 |  |  | 22,252 |
Total assets | $ | 43,897 |  |  | $ | 74 |  |  | $ | 100,150 |  |  | $ | 41,180 |  |  | $ | 185,301 |
The following table summarizes the Company’s securitized debt collateralized by multi-family CMBS and distressed residential mortgage loans (dollar amounts in thousands):
| Multi-family CMBS Re-securitization (1) |  | Distressed Residential Mortgage Loan Securitizations
Principal Amount at September 30, 2017 | $ | 33,399 |  |  | $ | 70,374 |
Principal Amount at December 31, 2016 | $ | 33,553 |  |  | $ | 132,319 |
Carrying Value at September 30, 2017 (2) | $ | 28,946 |  |  | $ | 69,425 |
Carrying Value at December 31, 2016 (2) | $ | 28,332 |  |  | $ | 130,535 |
Pass-through rate of Notes issued | 5.35% |  | 4.00%
(1) | The Company engaged in the re-securitization transaction primarily for the purpose of obtaining non-recourse financing on a portion of its multi-family CMBS portfolio. As a result of engaging in this transaction, the Company remains economically exposed to the first loss position on the underlying multi-family CMBS transferred to the Consolidated VIE. The holders of the Note issued in this re-securitization transaction have no recourse to the general credit of the Company, but the Company does have the obligation, under certain circumstances, to repurchase assets upon the breach of certain representations and warranties. The Company will receive all remaining cash flow, if any, through its retained ownership.
(2) | Classified as securitized debt in the liability section of the Company’s accompanying condensed consolidated balance sheets, net of debt issuance costs.
Schedule of Contractual Maturities of Financing VIE's | The following table presents contractual maturity information about the Financing VIEs’ securitized debt as of September 30, 2017 and December 31, 2016, respectively (dollar amounts in thousands):
Scheduled Maturity (principal amount) | September 30, 2017 |  | December 31, 2016
Within 24 months | $ | 70,374 |  |  | $ | — |
Over 24 months to 36 months | — |  |  | 132,319 |
Over 36 months | 33,399 |  |  | 33,553 |
Total outstanding principal | 103,773 |  |  | 165,872 |
Discount | (4,567 | ) |  | (5,589 | )
Debt Issuance Cost | (835 | ) |  | (1,416 | )
Carrying value | $ | 98,371 |  |  | $ | 158,867 |
As of September 30, 2017, maturities for debt on the Company's condensed consolidated balance sheet are as follows (dollar amounts in thousands):
Fiscal Year | Total
2017 | $ | — |
2018 | — |
2019 | 6,013 |
2020 | — |
2021 | — |
2022 | 161,674 |
Thereafter | 72,917 |
| $ | 240,604 |
Financing VIE |
Variable Interest Entity [Line Items] |
Schedule of Assets and Liabilities of Consolidated VIE's | Assets and Liabilities of Consolidated VIEs as of September 30, 2017 (dollar amounts in thousands):
| Financing VIEs |  | Other VIEs |  |
| Multi-family CMBS Re- securitization (1) |  | Distressed Residential Mortgage Loan Securitization (2) |  | Residential Mortgage Loan Securitization |  | Multi- family CMBS (3) |  | Other |  | Total
Cash and cash equivalents | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,194 |  |  | $ | 1,194 |
Investment securities available for sale, at fair value held in securitization trusts | 46,623 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 46,623 |
Residential mortgage loans held in securitization trusts (net) | — |  |  | — |  |  | 79,875 |  |  | — |  |  | — |  |  | 79,875 |
Distressed residential mortgage loans held in securitization trust (net) | — |  |  | 133,972 |  |  | — |  |  | — |  |  | — |  |  | 133,972 |
Multi-family loans held in securitization trusts, at fair value | 1,174,341 |  |  | — |  |  | — |  |  | 7,224,993 |  |  | — |  |  | 8,399,334 |
Real estate held for sale in consolidated variable interest entities | — |  |  | — |  |  | — |  |  | — |  |  | 64,097 |  |  | 64,097 |
Receivables and other assets | 4,217 |  |  | 19,795 |  |  | 1,585 |  |  | 23,959 |  |  | 24,701 |  |  | 74,257 |
Total assets | $ | 1,225,181 |  |  | $ | 153,767 |  |  | $ | 81,460 |  |  | $ | 7,248,952 |  |  | $ | 89,992 |  |  | $ | 8,799,352 |
Residential collateralized debt obligations | $ | — |  |  | $ | — |  |  | $ | 76,867 |  |  | $ | — |  |  | $ | — |  |  | $ | 76,867 |
Multi-family collateralized debt obligations, at fair value | 1,112,651 |  |  | — |  |  | — |  |  | 6,877,968 |  |  | — |  |  | 7,990,619 |
Securitized debt | 28,946 |  |  | 69,425 |  |  | — |  |  | — |  |  | — |  |  | 98,371 |
Mortgages and notes payable in consolidated variable interest entities | — |  |  | — |  |  | — |  |  | — |  |  | 57,342 |  |  | 57,342 |
Accrued expenses and other liabilities | 4,200 |  |  | 1,766 |  |  | 22 |  |  | 23,733 |  |  | 2,621 |  |  | 32,342 |
Total liabilities | $ | 1,145,797 |  |  | $ | 71,191 |  |  | $ | 76,889 |  |  | $ | 6,901,701 |  |  | $ | 59,963 |  |  | $ | 8,255,541 |
(1) | The Company classified the multi-family CMBS issued by two K-Series securitizations and held by this Financing VIE as available for sale securities as the purpose is not to trade these securities. The Financing VIE consolidated one K-Series securitization that issued certain of the multi-family CMBS owned by the Company, including its assets, liabilities, income and expenses, in its financial statements, as based on a number of factors, the Company determined that it was the primary beneficiary and has a controlling financial interest in this particular K-Series securitization (see Note 7).
(2) | The Company engaged in this transaction for the purpose of financing distressed residential mortgage loans acquired by the Company. The distressed residential mortgage loans serving as collateral for the financing are comprised of performing, re-performing and, to a lesser extent, non-performing, fixed and adjustable-rate, fully-amortizing, interest only and balloon, seasoned mortgage loans secured by first liens on one to four family properties. Balances as of September 30, 2017 are related to a securitization transaction that closed in April 2016 that involved the issuance of $177.5 million of Class A Notes representing the beneficial ownership in a pool of performing and re-performing seasoned mortgage loans. The Company holds 5% of the Class A Notes issued as part of the securitization transaction, which were eliminated in consolidation.
(3) | Five of the Company’s Freddie Mac-sponsored multi-family K-Series securitizations included in the Consolidated K-Series were not held in a Financing VIE as of September 30, 2017.
Assets and Liabilities of Consolidated VIEs as of December 31, 2016 (dollar amounts in thousands):
| Financing VIEs |  | Other VIEs |  |
| Multi-family CMBS Re- securitization (1) |  | Distressed Residential Mortgage Loan Securitization (2) |  | Residential Mortgage Loan Securitization |  | Multi- family CMBS (3) |  | Other |  | Total
Cash and cash equivalents | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 186 |  |  | $ | 186 |
Investment securities available for sale, at fair value held in securitization trusts | 43,897 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 43,897 |
Residential mortgage loans held in securitization trusts (net) | — |  |  | — |  |  | 95,144 |  |  | — |  |  | — |  |  | 95,144 |
Distressed residential mortgage loans held in securitization trust (net) | — |  |  | 195,347 |  |  | — |  |  | — |  |  | — |  |  | 195,347 |
Multi-family loans held in securitization trusts, at fair value | 1,196,835 |  |  | — |  |  | — |  |  | 5,743,009 |  |  | — |  |  | 6,939,844 |
Receivables and other assets | 4,420 |  |  | 13,610 |  |  | 912 |  |  | 19,753 |  |  | 17,759 |  |  | 56,454 |
Total assets | $ | 1,245,152 |  |  | $ | 208,957 |  |  | $ | 96,056 |  |  | $ | 5,762,762 |  |  | $ | 17,945 |  |  | $ | 7,330,872 |
Residential collateralized debt obligations | $ | — |  |  | $ | — |  |  | $ | 91,663 |  |  | $ | — |  |  | $ | — |  |  | $ | 91,663 |
Multi-family collateralized debt obligations, at fair value | 1,137,002 |  |  | — |  |  | — |  |  | 5,487,894 |  |  | — |  |  | 6,624,896 |
Securitized debt | 28,332 |  |  | 130,535 |  |  | — |  |  | — |  |  | — |  |  | 158,867 |
Mortgages and notes payable in consolidated variable interest entities | — |  |  | — |  |  | — |  |  | — |  |  | 1,588 |  |  | 1,588 |
Accrued expenses and other liabilities | 4,400 |  |  | 1,336 |  |  | 20 |  |  | 19,753 |  |  | 13 |  |  | 25,522 |
Total liabilities | $ | 1,169,734 |  |  | $ | 131,871 |  |  | $ | 91,683 |  |  | $ | 5,507,647 |  |  | $ | 1,601 |  |  | $ | 6,902,536 |
(1) | The Company classified the multi-family CMBS issued by two K-Series securitizations and held by this Financing VIE as available for sale securities as the purpose is not to trade these securities. The Financing VIE consolidated one K-Series securitization that issued certain of the multi-family CMBS owned by the Company, including its assets, liabilities, income and expenses, in its financial statements, as based on a number of factors, the Company determined that it was the primary beneficiary and has a controlling financial interest in this particular K-Series securitization (see Note 7).
(2) | The Company engaged in this transaction for the purpose of financing distressed residential mortgage loans acquired by the Company. The distressed residential mortgage loans serving as collateral for the financing are comprised of performing, re-performing and, to a lesser extent, non-performing, fixed and adjustable-rate, fully-amortizing, interest only and balloon, seasoned mortgage loans secured by first liens on one to four family properties. Balances as of December 31, 2016 are related to a securitization transaction that closed in April 2016 that involved the issuance of $177.5 million of Class A Notes representing the beneficial ownership in a pool of performing and re-performing seasoned mortgage loans. The Company holds 5% of the Class A Notes issued as part of the securitization transaction, which have been eliminated in consolidation.
(3) | Four of the Company’s Freddie Mac-sponsored multi-family K-Series securitizations included in the Consolidated K-Series were not held in a Financing VIE as of December 31, 2016. In October 2016, the Company repaid $55.9 million of outstanding notes from its November 2013 collateralized recourse financing, which was comprised of securities issued from three separate Freddie Mac-sponsored multi-family K-Series securitizations. In connection with the repayment of the notes, the Company terminated and de-consolidated the Financing VIE that facilitated this financing transaction and securities serving as collateral on the notes were transferred back to the Company.

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=75026489&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13433-108611 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77990344&loc=d3e5747-111685 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=77990344&loc=SL6228884-111685 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77990344&loc=d3e5728-111685 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=77990344&loc=SL6759159-111685 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=77990344&loc=d3e5710-111685 + Details
Name: | us-gaap_ScheduleOfVariableInterestEntitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_VariableInterestEntityLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis=nymt_FinancingVIEMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |