FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2015

Investments, All Other Investments [Abstract]

Fair Value, by Balance Sheet Grouping

	At
	September 30, 2015
	Carrying		Fair Value
(in thousands)	Amount		Level 1		Level 2		Level 3
Assets:
Investments in preferred stock	$	31,371	$	─	$	─	$	36,613
Loans held for investment		8,482		─		─		7,438
Liabilities:
Notes payable and other debt, bond related		89,405		─		─		89,554
Notes payable and other debt, non-bond related		46,119		─		─		41,774
Notes payable and other debt related to CFVs		6,712		─		─		─
Subordinate debt issued by MFH		105,345		─		─		29,439
Subordinate debt issued by MFI		27,941		─		─		16,391

	At
	December 31, 2014
	Carrying		Fair Value
(in thousands)	Amount		Level 1		Level 2		Level 3
Assets:
Investments in preferred stock	$	31,371	$	─	$	─	$	36,613
Loans held for investment		22,564		─		─		21,689
Liabilities:
Notes payable and other debt, bond related		87,275		─		─		87,325
Notes payable and other debt, non-bond related		48,575		─		─		44,085
Notes payable and other debt related to CFVs		6,712		─		─		−
Subordinate debt issued by MFH		119,441		─		─		44,718
Subordinate debt issued by MFI		28,540		─		─		28,714