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Mortgage Loans (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of loan portfolio basis by asset type

The following table presents information regarding the carrying value for the Company's RPL loans, NPL loans and SBC loans as of June 30, 2020 and December 31, 2019 ($ in thousands):


Loan portfolio basis by asset type	June 30, 2020		December 31, 2019
Residential RPLs loans	$	1,048,146	$	1,085,514
SBC/commercial loans	4,240		35,086
Residential NPL loans	28,231		30,869
Total	$	1,080,617	$	1,151,469

Schedule of loan basis by year of origination

The following table presents information regarding the year of origination of the Company's mortgage loan portfolio by basis ($ in thousands):


	June 30, 2020
	2020		2019		2018		2017		2016		2009-2015		2006-2008		2005 and prior		Total
Great Ajax II REIT	$	—	$	—	$	—	$	225	$	1,097	$	32,025	$	208,799	$	66,450	$	308,596
7f7 and better	—		—		152		265		2,044		23,419		144,510		62,431		232,821
4f4-6f6 and below	—		—		—		—		—		13,934		120,362		40,559		174,855
2018-C	—		—		—		123		—		7,100		95,544		34,356		137,123
California	—		—		—		349		215		5,862		89,475		22,847		118,748
2017-D	—		—		106		136		707		15,624		60,952		25,555		103,080
Non-PCD	—		783		1,244		2,506		101		696		54		10		5,394
Total	$	—	$	783	$	1,502	$	3,604	$	4,164	$	98,660	$	719,696	$	252,208	$	1,080,617

Schedule of loan acquisition reconciliation between purchase price and par value

The following table presents a reconciliation between the purchase price and par value for the Company's loan acquisitions and originations for the three and six months ended June 30, 2020 ($ in thousands):


	Three months ended June 30, 2020						Six months ended June 30, 2020
	PCD Loans		Non PCD Loans		PCD Loans		Non PCD Loans
Par	$	—	$	—	$	227	$	1,952
Discount	—		—		(37)		(747)
Allowance	—		—		(4)		—
Purchase Price	$	—	$	—	$	186	$	1,205

Allowance for credit losses on mortgage loans

An analysis of the balance in the allowance for loan losses account follows ($ in thousands):


	Three months ended June 30,						Six months ended June 30,
	2020		2019		2020		2019
Allowance for loan credit losses, beginning of period	$	(16,136)	$	(1,318)	$	(1,960)	$	(1,164)
Beginning period adjustment for CECL	—		—		(10,156)		—
Reversal of / (Increase in) provision for credit losses on mortgage loans	1,525		(85)		(597)		(239)
Reversal of / (Increase in) allowance for loan credit losses	161		—		(1,737)		—
Allowance for loan credit losses, end of period	$	(14,450)	$	(1,403)	$	(14,450)	$	(1,403)

Schedule of carrying value of mortgage loans and related UPB by delinquency status

The following table sets forth the carrying value of the Company’s mortgage loans by delinquency status as of June 30, 2020 and December 31, 2019 ($ in thousands):


	June 30, 2020
	Current		30		60		90		Foreclosure		Total
Great Ajax II REIT	$	254,360	$	21,214	$	19,437	$	13,484	$	101	$	308,596
7f7 and better	163,097		22,875		21,155		25,181		512		232,820
2018-C	96,276		18,616		17,081		35,369		7,512		174,854
2017-D	83,239		15,549		12,160		23,899		2,274		137,121
California	80,421		9,721		8,926		17,918		1,761		118,747
4f4- 6f6 and below	12,493		6,706		7,617		49,172		27,092		103,080
Non-PCD	1,427		251		1,936		1,785		—		5,399
Total	$	691,313	$	94,932	$	88,312	$	166,808	$	39,252	$	1,080,617


	December 31, 2019
	Current		30		60		90		Foreclosure		Total
Great Ajax II REIT	$	265,677	$	37,553	$	14,034	$	4,597	$	—	$	321,861
7f7 and better	147,722		29,371		22,645		28,864		1,829		230,431
2018-C	75,253		33,904		19,756		42,315		8,074		179,302
2017-D	68,996		28,318		14,452		33,166		3,188		148,120
California	90,658		12,733		9,123		20,737		1,173		134,424
4f4- 6f6 and below	6,412		4,329		12,946		66,177		24,033		113,897
Non-PCD	21,425		—		850		1,159		—		23,434
Total	$	676,143	$	146,208	$	93,806	$	197,015	$	38,297	$	1,151,469