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Schedule IV - Mortgage Loans on Real Estate | 12 Months Ended
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Dec. 31, 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract] |
Schedule IV - Mortgage Loans on Real Estate | Schedule IV - Mortgage Loans on Real Estate (dollar amounts in thousands) December 31, 2021
Asset Type |  | Number of Loans |  | Interest Rate |  | Maturity Date |  | Carrying Value |  | Principal Amount of Loans Subject to Delinquent Principal or Interest
Residential loans |  |  |  |  |  |  |  |  |  |
First lien loans |  |  |  |  |  |  |  |  |  |
Original loan amount $0 - $99,999 |  | 1,120 |  | 0.00% - 14.99% |  | 09/23/2013 - 08/01/2061 |  | $ | 57,475 |  |  | $ | 1,030 |
Original loan amount $100,000 - $199,999 |  | 1,341 |  | 2.00% - 11.84% |  | 05/14/2022 - 11/01/2061 |  | 173,951 |  |  | 2,001 |
Original loan amount $200,000 - $299,999 |  | 763 |  | 0.00% - 10.86% |  | 07/01/2027 - 10/01/2061 |  | 170,794 |  |  | 3,378 |
Original loan amount over $299,999 |  | 968 |  | 1.88% - 9.13% |  | 08/01/2025 - 05/01/2061 |  | 417,639 |  |  | 9,205 |
Second lien loans |  |  |  |  |  |  |  |  |  |
Original loan amount $0 - $99,999 |  | 245 |  | 5.75% - 8.88% |  | 09/01/2031 - 05/01/2050 |  | 10,126 |  |  | 576 |
Original loan amount $100,000 - $199,999 |  | 19 |  | 6.25% - 8.63% |  | 11/01/2032 - 04/01/2050 |  | 2,291 |  |  | — |
Original loan amount $200,000 - $299,999 |  | 6 |  | 6.75% - 8.13% |  | 03/01/2046 - 01/01/2050 |  | 1,333 |  |  | — |
Business purpose loans |  |  |  |  |  |  |  |  |  |
Original loan amount $0 - $99,999 |  | 452 |  | 4.25% - 13.99% |  | 01/07/2020 - 01/01/2052 |  | 56,598 |  |  | 1,818 |
Original loan amount $100,000 - $199,999 |  | 453 |  | 3.75% - 13.49% |  | 01/09/2020 - 01/01/2052 |  | 80,298 |  |  | 1,437 |
Original loan amount $200,000 - $299,999 |  | 309 |  | 3.50% - 12.50% |  | 04/19/2020 - 01/01/2052 |  | 87,576 |  |  | 1,755 |
Original loan amount over $299,999 |  | 688 |  | 3.50% - 12.00% |  | 05/29/2020 - 01/01/2052 |  | 645,209 |  |  | 5,874 |
Residential loans held in securitization trusts |  |  |  |  |  |  |  |  |  |
First lien loans |  |  |  |  |  |  |  |  |  |
Original loan amount $0 - $99,999 |  | 1,178 |  | 1.38% - 12.13% |  | 04/01/2012 - 10/01/2061 |  | 64,755 |  |  | 8,968 |
Original loan amount $100,000 - $199,999 |  | 1,390 |  | 0.00% - 11.85% |  | 12/01/2021 - 10/01/2061 |  | 162,907 |  |  | 19,276 |
Original loan amount $200,000 - $299,999 |  | 619 |  | 1.75% - 11.90% |  | 11/01/2023 - 09/01/2061 |  | 123,285 |  |  | 16,348 |
Original loan amount over $299,999 |  | 673 |  | 1.38% - 9.75% |  | 12/01/2025 - 09/01/2061 |  | 241,055 |  |  | 30,946 |
Business purpose loans |  |  |  |  |  |  |  |  |  |
Original loan amount $0 - $99,999 |  | 60 |  | 7.25% - 13.50% |  | 09/01/2021 - 12/01/2022 |  | 6,797 |  |  | — |
Original loan amount $100,000 - $199,999 |  | 81 |  | 7.50% - 12.99% |  | 09/01/2021 - 07/01/2023 |  | 13,680 |  |  | 169 |
Original loan amount $200,000 - $299,999 |  | 73 |  | 6.50% - 12.00% |  | 10/01/2021 - 06/01/2023 |  | 19,006 |  |  | 200 |
Original loan amount over $299,999 |  | 178 |  | 6.50% - 11.00% |  | 09/01/2021 - 10/29/2023 |  | 169,944 |  |  | — |
Consolidated SLST |  |  |  |  |  |  |  |  |  |
First lien loans |  | 6,802 |  | 1.38% - 10.50% |  | 01/01/2022 - 09/01/2061 |  | 1,070,882 |  |  | 135,906 |
|  |  |  |  |  |  |  | $ | 3,575,601 |  |  | $ | 238,887 |
Reconciliation of Balance Sheet Reported Amounts of Mortgage Loans on Real Estate
|  | For the year ended December 31,
(in thousands) |  | 2021 |  | 2020 |  | 2019
Beginning balance |  | $ | 3,049,166 |  |  | $ | 20,780,548 |  |  | $ | 12,707,625 |
Cumulative-effect adjustment for implementation of fair value option (1) |  | — |  |  | 5,812 |  |  | — |
Additions during period: |  |  |  |  |  |
Purchases |  | 1,581,979 |  |  | 569,557 |  |  | 8,762,553 |
Accretion of purchase discount |  | 4,154 |  |  | 5,265 |  |  | 11,234 |
Change in realized and unrealized gains |  | 44,564 |  |  | 101,957 |  |  | 638,557 |
Deductions during period: |  |  |  |  |  |
Repayments of principal |  | (1,018,176) |  |  | (674,337) |  |  | (1,052,812) |
Collection of interest |  | — |  |  | — |  |  | (11,429) |
Transfer to investment securities available for sale (2) |  | — |  |  | (237,297) |  |  | — |
Transfer to REO |  | (4,133) |  |  | (8,509) |  |  | (6,105) |
Cost of loans sold (2) |  | (77,127) |  |  | (17,478,478) |  |  | (213,871) |
Provision for loan loss |  | — |  |  | — |  |  | 2,780 |
Amortization of premium |  | (4,826) |  |  | (15,352) |  |  | (57,984) |
Balance at end of period |  | $ | 3,575,601 |  |  | $ | 3,049,166 |  |  | $ | 20,780,548 |
(1)As of January 1, 2020, the Company has elected to account for all residential loans using the fair value option (see Note 2). (2)During the year ended December 31, 2020, the Company sold first loss PO securities included in the Consolidated K-Series and, as a result, de-consolidated the multi-family loans held in the Consolidated K-Series and transferred its remaining securities owned in the Consolidated K-Series to investment securities available for sale (see Notes 2 and 7).

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- Definition The entire disclosure for investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate. Includes, but is not limited to, information for each mortgage loan receivable equaling or exceeding three percent of carrying amount of mortgage. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 29 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 948 -SubTopic 310 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-29) -URI http://asc.fasb.org/extlink&oid=120402547&loc=d3e617274-123014 + Details
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