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Debt - Schedule of Status of Notes and Securitizations (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019
--- | --- | ---
Debt Instrument [Line Items] |  |  |
Carrying value of mortgages | [1],[2] | $ 1,080,617 | $ 1,151,469
Mortgage loans |  |  |
Debt Instrument [Line Items] |  |  |
Carrying value of mortgages |  | 871,695 | 908,562
Bond principal balance |  | $ 615,237 | $ 659,715
Percentage of collateral coverage |  | 142.00% | 138.00%
Original balances at securitization cutoff date Mortgage UPB |  | $ 1,142,020 |
Original balances at securitization cutoff date Bond principal balance |  | 787,161 |
Debt issuance costs, net |  | 5,400 | $ 7,000
Mortgage loans | 2017-B |  |  |
Debt Instrument [Line Items] |  |  |
Carrying value of mortgages |  | 117,259 | 121,909
Bond principal balance |  | $ 77,929 | $ 84,624
Percentage of collateral coverage |  | 150.00% | 144.00%
Original balances at securitization cutoff date Mortgage UPB |  | $ 165,850 |
Original balances at securitization cutoff date Bond principal balance |  | 115,846 |
Mortgage loans | 2017-C |  |  |
Debt Instrument [Line Items] |  |  |
Carrying value of mortgages |  | 133,863 | $ 137,369
Bond principal balance |  | $ 87,459 | $ 94,126
Percentage of collateral coverage |  | 153.00% | 146.00%
Original balances at securitization cutoff date Mortgage UPB |  | $ 185,942 |
Original balances at securitization cutoff date Bond principal balance |  | 130,159 |
Mortgage loans | 2017-D |  |  |
Debt Instrument [Line Items] |  |  |
Carrying value of mortgages |  | 137,122 | $ 148,119
Bond principal balance |  | $ 55,016 | $ 60,934
Percentage of collateral coverage |  | 249.00% | 243.00%
Original balances at securitization cutoff date Mortgage UPB |  | $ 203,870 |
Original balances at securitization cutoff date Bond principal balance |  | 88,903 |
Cash collateral for borrowed securities |  | 26,700 |
Mortgage loans | 2018-C |  |  |
Debt Instrument [Line Items] |  |  |
Carrying value of mortgages |  | 174,855 | $ 179,303
Bond principal balance |  | $ 137,551 | $ 146,925
Percentage of collateral coverage |  | 127.00% | 122.00%
Original balances at securitization cutoff date Mortgage UPB |  | $ 222,181 |
Original balances at securitization cutoff date Bond principal balance |  | 167,910 |
Cash collateral for borrowed securities |  | 45,500 |
Mortgage loans | 2019-D |  |  |
Debt Instrument [Line Items] |  |  |
Carrying value of mortgages |  | 158,121 | $ 165,963
Bond principal balance |  | $ 137,258 | $ 146,383
Percentage of collateral coverage |  | 115.00% | 113.00%
Original balances at securitization cutoff date Mortgage UPB |  | $ 193,301 |
Original balances at securitization cutoff date Bond principal balance |  | 156,670 |
Mortgage loans | 2019-F |  |  |
Debt Instrument [Line Items] |  |  |
Carrying value of mortgages |  | 150,475 | $ 155,899
Bond principal balance |  | $ 120,024 | $ 126,723
Percentage of collateral coverage |  | 125.00% | 123.00%
Original balances at securitization cutoff date Mortgage UPB |  | $ 170,876 |
Original balances at securitization cutoff date Bond principal balance |  | 127,673 |
Class A Notes | Mortgage loans | 2017-D |  |  |
Debt Instrument [Line Items] |  |  |
Original Principal |  | 110,000 | $ 121,900
Secured borrowings |  | 55,000 | 60,900
Class A Notes | Mortgage loans | 2018-C |  |  |
Debt Instrument [Line Items] |  |  |
Original Principal |  | 138,600 | 148,500
Secured borrowings |  | 131,600 | 141,000
Class B Notes | Mortgage loans | 2018-C |  |  |
Debt Instrument [Line Items] |  |  |
Original Principal |  | 15,900 | 15,900
Secured borrowings |  | $ 5,900 | $ 5,900
[1] | As of June 30, 2020, balances for Mortgage loans, net includes $312.0 million and Secured borrowings, net of deferred costs includes $263.6 million from 50% and 63% owned joint ventures, respectively. As of December 31, 2019, balances for Mortgage loans, net include $341.8 million and Secured borrowings, net of deferred costs includes $284.8 million from 50% and 63% owned joint ventures, all of which the Company consolidates under U.S. Generally Accepted Accounting Principles ("U.S. GAAP").
[2] | Mortgage loans net include $871.7 million and $908.6 million of loans at June 30, 2020 and December 31, 2019, respectively, transferred to securitization trusts that are variable interest entities (“VIEs”); these loans can only be used to settle obligations of the VIEs. Secured borrowings consist of notes issued by VIEs that can only be settled with the assets and cash flows of the VIEs. The creditors do not have recourse to the primary beneficiary (Great Ajax Corp.). See Note 9 — Debt. Mortgage loans, net include $14.5 million and $2.0 million of allowance for loan credit losses at June 30, 2020 and December 31, 2019, respectively.

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