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Mortgage Loans - Schedule of Loan Portfolio Basis by Asset Type (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019
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Mortgage Loans on Real Estate |  |  |
Mortgage loans, net | [1],[2] | $ 1,080,617 | $ 1,151,469
SBC/commercial loans |  |  |
Mortgage Loans on Real Estate |  |  |
Mortgage loans, net |  | 4,240 | 35,086
Residential RPLs loans |  |  |
Mortgage Loans on Real Estate |  |  |
Mortgage loans, net |  | 1,048,146 | 1,085,514
Residential NPL loans |  |  |
Mortgage Loans on Real Estate |  |  |
Mortgage loans, net |  | $ 28,231 | $ 30,869
[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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