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Debt - Schedule of Status of Notes and Securitizations (Details) - USD ($)
$ in Thousands

Jun. 30, 2021

Dec. 31, 2020

Debt Instrument [Line Items]

Carrying value of mortgages

^[1],[2]

$ 955,628

$ 1,119,372

Mortgage loans

Debt Instrument [Line Items]

Carrying value of mortgages

821,583

842,177

Bond principal balance

$ 663,406

$ 590,761

Percentage of collateral coverage

124.00%

143.00%

Original balances at securitization cutoff date Mortgage UPB

$ 1,606,969

Original balances at securitization cutoff date Bond principal balance

1,162,564

Mortgage loans | 2017-B

Debt Instrument [Line Items]

Carrying value of mortgages

0

$ 110,062

Bond principal balance

$ 0

$ 68,729

Percentage of collateral coverage

0.00%

160.00%

Original balances at securitization cutoff date Mortgage UPB

$ 165,850

Original balances at securitization cutoff date Bond principal balance

115,846

Mortgage loans | 2017-D

Debt Instrument [Line Items]

Carrying value of mortgages

0

$ 133,897

Bond principal balance

$ 0

$ 51,256

Percentage of collateral coverage

0.00%

261.00%

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 | 2017-D | Class A Notes

Debt Instrument [Line Items]

Original Principal

$ 102,600

Secured borrowings

51,300

Mortgage loans | 2018-C

Debt Instrument [Line Items]

Carrying value of mortgages

0

173,221

Bond principal balance

$ 0

$ 131,983

Percentage of collateral coverage

0.00%

131.00%

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 | 2018-C | Class A Notes

Debt Instrument [Line Items]

Original Principal

$ 132,700

Secured borrowings

126,100

Mortgage loans | 2018-C | Class B Notes

Debt Instrument [Line Items]

Original Principal

15,900

Secured borrowings

5,900

Mortgage loans | 2019-D

Debt Instrument [Line Items]

Carrying value of mortgages

133,598

148,641

Bond principal balance

$ 109,891

$ 125,008

Percentage of collateral coverage

122.00%

119.00%

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

127,059

$ 139,996

Bond principal balance

$ 94,250

$ 108,184

Percentage of collateral coverage

135.00%

129.00%

Original balances at securitization cutoff date Mortgage UPB

$ 170,876

Original balances at securitization cutoff date Bond principal balance

127,673

Mortgage loans | 2020-B

Debt Instrument [Line Items]

Carrying value of mortgages

127,515

$ 136,360

Bond principal balance

$ 97,540

$ 105,601

Percentage of collateral coverage

131.00%

129.00%

Original balances at securitization cutoff date Mortgage UPB

$ 156,468

Original balances at securitization cutoff date Bond principal balance

114,534

Mortgage loans | 2021-A

Debt Instrument [Line Items]

Carrying value of mortgages

178,494

$ 0

Bond principal balance

$ 160,924

$ 0

Percentage of collateral coverage

111.00%

0.00%

Original balances at securitization cutoff date Mortgage UPB

$ 206,528

Original balances at securitization cutoff date Bond principal balance

175,116

Mortgage loans | 2021-B

Debt Instrument [Line Items]

Carrying value of mortgages

254,917

$ 0

Bond principal balance

$ 200,801

$ 0

Percentage of collateral coverage

127.00%

0.00%

Original balances at securitization cutoff date Mortgage UPB

$ 287,895

Original balances at securitization cutoff date Bond principal balance

$ 215,912

[1]

As of June 30, 2021, balances for Mortgage loans, net include $1.9 million from a 50.0% owned joint venture. As of December 31, 2020, balances for Mortgage loans, net include $307.1 million and Secured borrowings, net of deferred costs includes $250.6 million from 50.0% and 63.0% owned joint ventures, all of which the Company consolidates under U.S. Generally Accepted Accounting Principles ("U.S. GAAP"). The creditors do not have recourse to the primary beneficiary (Great Ajax Corp.). See Note 9 — Debt.

[2]

Mortgage loans, net include $821.6 million and $842.2 million of loans at June 30, 2021 and December 31, 2020, 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 $9.8 million and $13.7 million of allowance for loan credit losses at June 30, 2021 and December 31, 2020, respectively.

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