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Fair value of financial instruments (Tables)
 6 Months Ended
Jun. 30, 2015
Fair Value Disclosures [Abstract]  
Schedule of fair value of financial assets and liabilities
         

Level 1

    

Level 2

    

Level 3

  

June 30, 2015

  

Carrying
Value

    

Quoted prices
in active
markers

    

Observable
inputs other than
Level 1 prices

    

Unobservable
inputs

  
Not recognized on consolidated balance sheet at fair value (assets)                                
Mortgage loans   $ 444,408       —       —     $ 501,369  
Not recognized on consolidated balance sheet at fair value (liabilities)                                
Borrowings under repurchase agreement     153,804       —     $ 153,804       —  
Secured borrowings     116,349       —       116,349       —  

 

         

Level 1

    

Level 2

    

Level 3

  

December 31, 2014

  

Carrying
Value

    

Quoted prices
in active
markers

    

Observable
inputs other than
Level 1 prices

    

Unobservable
inputs

  
Not recognized on consolidated balance sheet at fair value (assets)                                
Mortgage loans   $ 211,159       —       —     $ 235,623  
Not recognized on consolidated balance sheet at fair value (liabilities)                                
Borrowings under repurchase agreement     15,249       —     $ 15,249       —  
Secured borrowings     84,679       —       84,679       —  
 
Schedule of quantitative information about significant unobservable inputs
 The following table sets forth quantitative information about the significant unobservable inputs used to measure the fair value of the Company’s mortgage loans as of June 30, 2015:

 

Input

  

Range of Values
Equity discount rate – Re-performing loans   8% - 14%
Equity discount rate – Non-performing loans   10% - 18%
Cost of debt   4.25%
Loan resolution timelines – Re-performing loans (in years)   4 - 7
Loan resolution timelines – Non-performing loans (in years)   1.4 - 4