Residential Mortgage Loans Held-For-Securitization (Tables)

3 Months Ended

Mar. 31, 2020


	March 31,		December 31,
	2020		2019
		(in thousands)
Principal balance	$	137,911	$	148,908
Unamortized premium and deferred transaction costs		3,790		4,014
Allowance for credit losses		(56)		—
Carrying value	$	141,645	$	152,922


	March 31,		December 31,
	2020		2019

Balance at beginning of period	$	152,922	$	11,660
Loan acquisitions		—		168,850
Premium and deferred transaction costs on new loans		—		3,702
Deductions during period:
Collections of principal		(10,049)		(30,992)
Amortization of premium and costs		(417)		(298)
Allowance for credit losses		(56)		—
Other		(755)		—
Balance at end of period	$	141,645	$	152,922


	March 31,			December 31,
	2020			2019
	(dollar amounts in thousands)
Portfolio Characteristics:
12-months bank statements		15			17
24-months bank statements		51			56
Alt documentation		87			97
Full documentation		13			15
Written Verification of Employment		113			115
Number of loans outstanding		279			300
Current principal balance	$	137,911		$	148,908
Simple Average loan balance	$	494		$	496
Net weighted average coupon rate		5.41	%		5.40	%
Weighted average FICO score		742			744
Weighted average LTV (loan-to-value)		70			70
Weighted average DTI (debt-to-income)		39			38
Performance:
Current	$	135,385		$	146,999
30-days delinquent		2,115			1,909
60-days delinquent		411			—
90-day delinquent		—			—
Bankruptcy/foreclosure		—			—
Total	$	137,911		$	148,908


	March 31,		December 31,
State	2020		2019
California	73	%	74	%
Florida	7		7
New York	6		6
Other states (none greater than 5%)	14		13
Total	100	%	100	%


	Three Months
	Ended
	March 31,
	2020
	(in thousands)
Balance at beginning of period	$	—
Impact of adopting ASC-326		30
Provision for loan losses		26
Charge-offs, net		—
Balance at end of period	$	56