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

12 Months Ended

Dec. 31, 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 at December 31, 2018 and December 31, 2017, respectively (dollar amounts in thousands):

	December 31, 2018				December 31, 2017
Unpaid principal balance	$	60,171			$	77,519
Deferred origination costs – net	383				492
Reserve for loan losses	(3,759		)		(4,191		)
Total	$	56,795			$	73,820

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, 2018, 2017 and 2016, respectively (dollar amounts in thousands):

	Years Ended December 31,
	2018				2017				2016
Balance at beginning of period	$	4,191			$	3,782			$	3,399
Provisions for loan losses	166				475				612
Transfer to real estate owned	—				(6		)		(117		)
Charge-offs	(598		)		(60		)		(112		)
Balance at the end of period	$	3,759			$	4,191			$	3,782

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 as of December 31, 2018 (dollar amounts in thousands):

December 31, 2018

Days Late	Number of Delinquent Loans		Total Unpaid Principal				% of Loan Portfolio
90+	19		$	10,926			18.16	%

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 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, 2018 and December 31, 2017 are as follows:

	December 31, 2018			December 31, 2017
New York	33.9	%		31.8	%
Massachusetts	20.0	%		20.7	%
New Jersey	14.5	%		11.9	%
Florida	9.9	%		8.8	%
Maryland	5.3	%		5.2	%

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

	December 31, 2018			December 31, 2017
California	27.9	%		35.9	%
Florida	9.0	%		6.6	%
Maryland	5.2	%		1.9	%
New York	5.1	%		3.8	%

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