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Residential Mortgage Loans, At Fair Value (Tables)
 3 Months Ended
Mar. 31, 2018
Mortgage Loans on Real Estate [Abstract]  
Residential Mortgage Loans At Fair Value
The Company’s residential mortgage loans at fair value consist of the following as of March 31, 2018 and December 31, 2017, respectively (dollar amounts in thousands):
 
 
Principal
 
Premium/(Discount)
 
Unrealized Gains/(Losses)
 
Carrying Value
March 31, 2018
 
$
104,394

 
$
(4,667
)
 
$
(247
)
 
$
99,480

December 31, 2017
 
$
92,105

 
$
(4,911
)
 
$
(41
)
 
$
87,153
Components of Net Gain on Residential Mortgage Loans at Fair Value
The following table presents the components of net loss on residential mortgage loans at fair value for the three months ended March 31, 2018 and 2017, respectively (dollar amounts in thousands):

 
March 31, 2018
 
March 31, 2017
Net realized gain on payoff and sale of loans
$
40

 
$
—

Net unrealized losses
(206
)
 
—
Schedule of Geographic Concentration of Credit Risk
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
%
Residential Mortgage Loans, Fair Value Compared to Unpaid Principal
The following table presents the difference between the fair value and the aggregate unpaid principal balance of the Company's residential mortgage loans at fair value greater than 90 days past due and in nonaccrual status at March 31, 2018 and December 31, 2017, respectively (dollar amounts in thousands):
 
Fair Value
 
Unpaid Principal Balance
 
Difference
March 31, 2018
$
1,336

 
$
1,543

 
$
(207
)
December 31, 2017
1,048

 
1,214

 
(166
)