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Debt (Tables)
 6 Months Ended
Jun. 30, 2015
Debt Disclosure [Abstract]  
Schedule of details of repurchase agreement
          June 30, 2015     December 31, 2014  
Maturity Date   Maximum
borrowing
capacity		     Amount
outstanding		     Carrying
value of
collateral		     Interest
rate		     Amount
outstanding		     Carrying
value of
collateral		     Interest
rate		  
November 24, 2015   $ 200,000     $ 153,804     $ 241,689       4.00 %   $ 15,249     $ 23,460       4.00 %
Schedule of securitization of notes

The following table sets forth the original terms of all securitization notes at their respective cutoff dates as of June 30, 2015:

 

Issuing Trust/Issue Date   Security   Original
Principal		     Interest
Rate		  
Ajax Mortgage Loan Trust 2014-A/ October 2014   Class A notes due 2057(1)   $ 45 million       4.00 %
    Class B-1 notes due 2057(2)   $ 8 million       5.19 %
    Class B-2 notes due 2057(2)   $ 8 million       5.19 %
    Trust certificates(3)   $ 20.4 million       –  
                     
Ajax Mortgage Loan Trust 2014-B / November 2014   Class A notes due 2054(1)   $ 41.2 million       3.85 %
    Class B-1 notes due 2054(2)   $ 13.7 million       5.25 %
    Class B-2 notes due 2054(2)   $ 13.7 million       5.25 %
    Trust certificates(3)   $ 22.9 million       –  
                     
Ajax Mortgage Loan Trust 2015-A / May 2015   Class A notes due 2054(1)   $ 35.6 million       3.88 %
    Class B-1 notes due 2054(2)   $ 8.7 million       5.25 %
    Class B-2 notes due 2054(2)   $ 8.7 million       5.25 %
    Trust certificates(3)   $ 22.8 million       –  

 

 

(1) The Class A notes are senior, sequential pay, fixed rate notes.

 

(2) The Class B notes are subordinate, sequential pay, fixed rate notes with Class B-2 notes subordinate to the Class B-1 notes. We have retained the Class B notes.

 

(3) The trust certificate issued by the trust and the beneficial ownership of the trust are retained by Great Ajax Funding LLC as the depositor. As the holder of the trust certificate, we are entitled to receive any remaining amounts in the trust after the Class A notes and Class B notes have been paid in full.
Schedule of status of mortgage loans
    Balances at June 30, 2015     Balances at December 31, 2014     Original balances at securitization
cutoff date		  
Class of
Notes		   Carrying
value of
mortgages		     Bond
principal
balance		     Carrying
value of
mortgages		     Bond
principal
balance		     Mortgage
UPB		     Bond
principal
balance		  
2014-A   $ 58,313     $ 41,681     $ 58,905     $ 44,016     $ 81,405     $ 45,000  
2014-B     68,379       39,344       68,654       40,663       91,535       41,191  
2015-A     53,116       35,324       —       —       75,835       35,643  
    $ 179,808     $ 116,349     $ 127,559     $ 84,679     $ 248,775     $ 121,834