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Residential Mortgage Loans Held in Securitization Trusts, Net and Real Estate Owned (Tables)
 3 Months Ended
Mar. 31, 2018
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 as of March 31, 2018 and December 31, 2017, respectively (dollar amounts in thousands):
 
March 31, 2018
 
December 31, 2017
Unpaid principal balance
$
74,472

 
$
77,519

Deferred origination costs – net
473

 
492

Reserve for loan losses
(4,081
)
 
(4,191
)
Total
$
70,864

 
$
73,820
Allowance for Loan Losses on Residential Mortgage Loans Held in Securitization Trusts
The following table presents the activity in the Company's allowance for loan losses on residential mortgage loans held in securitization trusts for the three months ended March 31, 2018 and 2017, respectively (dollar amounts in thousands):
 
Three Months Ended March 31,
 
2018
 
2017
Balance at beginning of period
$
4,191

 
$
3,782

(Recovery of) provision for loan losses
(110
)
 
15

Transfer to real estate owned
—

 
—

Charge-offs
—

 
—

Balance at the end of period
$
4,081

 
$
3,797
Activity in Real Estate Owned Held in Residential Securitization Trust
The following table presents the activity in the Company’s real estate owned held in residential securitization trusts for the three months ended March 31, 2018 and 2017, respectively (dollar amounts in thousands):
 
Three Months Ended March 31,
 
2018
 
2017
Balance at beginning of period
$
111

 
$
150

Write downs
—

 
—

Transfer from/(to) mortgage loans held in securitization trusts
—

 
—

Disposal
—

 
(150
)
Balance at the end of period
$
111

 
$
—
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 real estate owned (REO) through foreclosure, as of March 31, 2018 (dollar amounts in thousands):

March 31, 2018
Days Late
Number of
Delinquent
Loans 
 
Total
Unpaid
Principal 
 
% of Loan
Portfolio 
30 - 60
1
 
$
315

 
0.42
%
61 - 90
1
 
$
255

 
0.34
%
90 +
25
 
$
16,295

 
21.85
%
Real estate owned through foreclosure
1
 
$
118

 
0.16
%
The table below shows delinquencies in our portfolio of residential mortgage loans held in securitization trusts, including 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 of Credit Risk Exceeding 5% of Total Loan Balances
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 as of March 31, 2018 and December 31, 2017 are as follows:
 
March 31, 2018
 
December 31, 2017
New York
32.4
%
 
31.8
%
Massachusetts
20.1
%
 
20.7
%
New Jersey
12.3
%
 
11.9
%
Florida
9.1
%
 
8.8
%
Connecticut
7.5
%
 
7.3
%
Maryland
5.4
%
 
5.2
%
The geographic concentrations of credit risk exceeding 5% of the unpaid principal balance of residential mortgage loans at fair value as of March 31, 2018 and December 31, 2017, respectively, are as follows:
 
March 31, 2018
 
December 31, 2017
California
36.4
%
 
35.9
%
New Jersey
7.9
%
 
7.7
%
Florida
6.6
%
 
6.6
%