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Commitments and Contingencies | 9 Months Ended
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Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and Contingencies Commitment to Purchase Securities The Company has committed to purchase a first loss PO and IOs to be issued by a Freddie Mac-sponsored multi-family loan K-series securitization in the amount of approximately $56.0 million. In the third quarter of 2019, the Company entered into an agreement to purchase mortgage-backed securities to be issued in a securitization transaction sponsored by Freddie Mac. Pursuant to the terms of this agreement, the Company plans to acquire subordinate securities backed by a pool of seasoned re-performing residential first lien mortgage loans. The Company deposited $66.0 million with Freddie Mac towards the purchase price of these securities which is included in receivables and other assets in the accompanying condensed consolidated balance sheets. The Company expects to fund the remainder of the purchase price of these securities, approximately $166.0 million, upon the closing of this transaction in the fourth quarter of 2019. Outstanding Litigation The Company is at times subject to various legal proceedings arising in the ordinary course of business. As of September 30, 2019, the Company does not believe that any of its current legal proceedings, individually or in the aggregate, will have a material adverse effect on the Company’s operations, financial condition or cash flows.

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- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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