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Residential Mortgage Loans Held in Securitization Trusts, Net and Real Estate Owned (Tables)

6 Months Ended

Jun. 30, 2018

SEC Schedule, 12-29, Real Estate Companies, Investment in 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 June 30, 2018 and December 31, 2017, respectively (dollar amounts in thousands):

	June 30, 2018				December 31, 2017
Unpaid principal balance	$	69,451			$	77,519
Deferred origination costs – net	440				492
Reserve for loan losses	(3,844		)		(4,191		)
Total	$	66,047			$	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 six months ended June 30, 2018 and 2017, respectively (dollar amounts in thousands):

	Six Months Ended June 30,
	2018				2017
Balance at beginning of period	$	4,191			$	3,782
(Recovery of) provision for loan losses	(110		)		207
Transfer to real estate owned	—				(6		)
Charge-offs	(237		)		—
Balance at the end of period	$	3,844			$	3,983

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 June 30, 2018 (dollar amounts in thousands):

June 30, 2018

Days Late	Number of Delinquent Loans		Total Unpaid Principal				% of Loan Portfolio
30 - 60	1		$	311			0.45	%
61 - 90	1		$	170			0.24	%
90 +	22		$	14,481			20.82	%
Real estate owned through foreclosure	1		$	118			0.17	%

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 June 30, 2018 and December 31, 2017 are as follows:

	June 30, 2018			December 31, 2017
New York	31.9	%		31.8	%
Massachusetts	19.5	%		20.7	%
New Jersey	13.0	%		11.9	%
Florida	9.4	%		8.8	%
Connecticut	7.7	%		7.3	%
Maryland	4.9	%		5.2	%

The geographic concentrations of credit risk exceeding 5% of the unpaid principal balance of residential mortgage loans at fair value as of June 30, 2018 and December 31, 2017, respectively, are as follows:

	June 30, 2018			December 31, 2017
California	28.4	%		35.9	%
Florida	8.5	%		6.6	%
New Jersey	6.4	%		7.7	%

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