XML 41 R30.htm IDEA: XBRL DOCUMENT

Residential Mortgage Loans Held-For-Securitization (Tables)

6 Months Ended

Jun. 30, 2020

Residential Mortgage Loans Held-For-Securitization

Summary of Residential Mortgage Loans Held-for-Investment


		June 30,			December 31,
		2020			2019

			(in thousands)
Principal balance		$	127,782		$	148,908
Unamortized premium and deferred transaction costs			3,384			4,014
Allowance for credit losses			(56)			—
Carrying value		$	131,110		$	152,922

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


		Three Months			Six Months			Year
		Ended			Ended			Ended
		June 30,			June 30,			December 31,
		2020			2020			2019

		(in thousands)
Balance at beginning of period		$	141,645		$	152,922		$	11,660
Loan acquisitions			—			—			168,850
Premium and deferred transaction costs on new loans			—			—			3,702
Deductions during period:
Collections of principal			(10,129)			(20,178)			(30,992)
Amortization of premium and costs			(406)			(823)			(298)
Allowance for credit losses			—			(56)			—
Other			—			(755)			—
Balance at end of period		$	131,110		$	131,110		$	152,922

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


		June 30,				December 31,
		2020				2019

		(dollar amounts in thousands)
Portfolio Characteristics:
12-months bank statements			12				17
24-months bank statements			49				56
Alt documentation			79				97
Full documentation			12				15
Written Verification of Employment			109				115
Number of loans outstanding			261				300
Current principal balance		$	127,782			$	148,908
Simple Average loan balance		$	490			$	496
Net weighted average coupon rate			5.39	%			5.40	%
Weighted average FICO score			742				744
Weighted average LTV (loan-to-value)			70				70
Weighted average DTI (debt-to-income)			38				38
Performance:
Current		$	99,974			$	146,999
30-days delinquent⁽¹⁾			1,547				1,909
60-days delinquent⁽¹⁾			13,252				—
90-days+ delinquent⁽¹⁾			13,009				—
Bankruptcy/foreclosure			—				—
Total		$	127,782			$	148,908

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


		June 30,			December 31,
State		2020			2019
California		72	%		74	%
Florida		8			7
New York		6			6
Other states (none greater than 5%)		14			13
Total		100	%		100	%

Summary of Activity in Allowance for Loan Losses


		Three Months			Six Months
		Ended			Ended
		June 30,			June 30
		2020			2020

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