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Residential Mortgage Loans Held in Securitization Trusts, Net and Real Estate Owned (Tables)
 12 Months Ended
Dec. 31, 2017
Mortgage Loans on Real Estate [Abstract]  
Schedule of Residential Mortgage Loans Held in Securitization Trusts (Net)
Residential mortgage loans held in securitization trusts, net consist of the following at December 31, 2017 and December 31, 2016, respectively (dollar amounts in thousands):
 
December 31, 2017
 
December 31, 2016
Unpaid principal balance
$
77,519

 
$
98,303

Deferred origination costs – net
492

 
623

Reserve for loan losses
(4,191
)
 
(3,782
)
Total
$
73,820

 
$
95,144
Reconciliation of Allowance for Loan Losses
The following table presents the activity in the Company's allowance for loan losses on residential mortgage loans held in securitization trusts for the years ended December 31, 2017, 2016 and 2015, respectively (dollar amounts in thousands):
 
Years Ended December 31,
 
2017
 
2016
 
2015
Balance at beginning of period
$
3,782

 
$
3,399

 
$
3,631

Provisions for loan losses
475

 
612

 
1,161

Transfer to real estate owned
(6
)
 
(117
)
 
—

Charge-offs
(60
)
 
(112
)
 
(1,393
)
Balance at the end of period
$
4,191

 
$
3,782

 
$
3,399
Reconciliation of Real Estate Owned Held in Residential Securitization Trusts
The following table presents the activity in the Company’s real estate owned held in residential securitization trusts for the years ended December 31, 2017, 2016 and 2015, respectively (dollar amounts in thousands):
 
December 31, 2017
 
December 31, 2016
 
December 31, 2015
Balance at beginning of period
$
150

 
$
411

 
$
965

Write downs
—

 
(9
)
 
—

Transfer from mortgage loans held in securitization trusts
111

 
352

 
—

Disposal
(150
)
 
(604
)
 
(554
)
Balance at the end of period
$
111

 
$
150

 
$
411
Delinquencies in Portfolio of Residential Mortgage Loans Held in Securitization Trusts
The table below shows delinquencies in our portfolio of residential mortgage loans held in securitization trusts, including REO through foreclosure, as of December 31, 2016 (dollar amounts in thousands):

December 31, 2016

Days Late
Number of
Delinquent
Loans
 
Total
Unpaid
Principal
 
% of Loan
Portfolio
30 - 60
1
 
$
247

 
0.25
%
61 - 90
—
 
$
—

 
—

90+
30
 
$
18,416

 
18.68
%
Real estate owned through foreclosure
1
 
$
268

 
0.27
%
The table below shows delinquencies in our portfolio of residential mortgage loans held in securitization trusts, including real estate owned (REO) through foreclosure, as of December 31, 2017 (dollar amounts in thousands):

December 31, 2017

Days Late
Number of
Delinquent
Loans
 
Total
Unpaid
Principal
 
% of Loan
Portfolio
30 - 60
1
 
$
203

 
0.26
%
61 - 90
1
 
$
173

 
0.22
%
90+
24
 
$
16,147

 
20.80
%
Real estate owned through foreclosure
1
 
$
118

 
0.15
%
Schedule of Geographic Concentration Risk Exceeding 5%
The geographic concentrations of credit risk exceeding 5% of the total loan balances in our residential mortgage loans held in securitization trusts and REO held in residential securitization trusts at December 31, 2017 and December 31, 2016 are as follows:
 
December 31, 2017
 
December 31, 2016
New York
31.8
%
 
33.8
%
Massachusetts
20.7
%
 
19.9
%
New Jersey
11.9
%
 
10.8
%
Florida
8.8
%
 
8.9
%
Connecticut
7.3
%
 
7.4
%
Maryland
5.2
%
 
5.1
%


The geographic concentrations of credit risk exceeding 5% of the unpaid principal balance of residential mortgage loans at fair value as of December 31, 2017 and December 31, 2016, respectively, are as follows:
 
December 31, 2017
 
December 31, 2016
California
35.9
%
 
63.3
%
New Jersey
7.7
%
 
2.5
%
Florida
6.6
%
 
5.6
%