Residential Mortgage Loans Held-For-Securitization (Tables)

12 Months Ended

Dec. 31, 2019

Residential Mortgage Loans Held-For-Securitization

Summary of Residential Mortgage Loans Held-for-Investment

	December 31,		December 31,
	2019		2018
	(in thousands)
Principal balance	$	148,908	$	11,281
Unamortized premium and deferred transaction costs		4,014		379
Carrying value	$	152,922	$	11,660

Summary of Reconciliation of Carrying Value of Residential Mortgage Loans Held-for-Investment

	Year Ended
	December 31,
	2019		2018
	(in thousands)
Balance at beginning of period	$	11,660	$	—
Loan acquisitions		168,850		11,660
Premium and deferred transaction costs on new loans		3,702		—
Deductions during period:
Collections of principal		(30,992)		—
Amortization of premium and costs		(298)		—
Balance at end of period	$	152,922	$	11,660

Summary of Portfolio Characteristics of Residential Mortgage Loans Held-for-Investment

	December 31,			December 31,
	2019			2018
	(dollar amounts in thousands)
Portfolio Characteristics:
12-months bank statements		17			2
24-months bank statements		56			18
Alt documentation		97			—
Full documentation		15			2
Written Verification of Employment		115			—
Number of loans outstanding		300			22
Current principal balance	$	148,908		$	11,281
Simple Average loan balance	$	496		$	513
Net weighted average coupon rate		5.40	%		5.95	%
Weighted average FICO score		744			722
Weighted average LTV (loan-to-value)		70			77
Weighted average DTI (debt-to-income)		38			40
Performance:
Current	$	146,999		$	11,281
30-days delinquent		1,909			—
Total	$	148,908		$	11,281

Summary of Geographic Concentrations of Residential Mortgage Loans Held-for-Investment

	December 31,		December 31,
State	2019		2018
California	74	%	49
Florida	7		43
New York	6		5
Other states (none greater than 5%)	13		3
Total	100	%	100	%