Residential Mortgage Loans Held in Securitization Trusts (Net) and Real Estate Owned (Tables)

12 Months Ended

Dec. 31, 2015

Mortgage Loans on Real Estate [Abstract]

Schedule of Residential Mortgage Loans Held in Securitization Trusts (Net)

Residential mortgage loans held in securitization trusts (net) consist of the following at December 31, 2015 and December 31, 2014, respectively (dollar amounts in thousands):

	December 31, 2015			December 31, 2014
Unpaid principal balance	$	122,545		$	152,277
Deferred origination costs – net	775			968
Reserve for loan losses	(3,399		)	(3,631		)
Total	$	119,921		$	149,614

Reconciliation of Allowance for Loan Losses

The following table presents the activity in the Company's allowance for loan losses on residential mortgage loans held in securitization trusts for the years ended December 31, 2015, 2014 and 2013, respectively (dollar amounts in thousands):

	Years Ended December 31,
	2015			2014			2013
Balance at beginning of period	$	3,631		$	2,989		$	2,978
Provisions for loan losses	1,161			998			701
Transfer to real estate owned	—			(356		)	(407		)
Charge-offs	(1,393		)	—			(283		)
Balance at the end of period	$	3,399		$	3,631		$	2,989

Reconciliation of Real Estate Owned Held in Residential Securitization Trusts

The following table presents the activity in the Company’s real estate owned held in residential securitization trusts for the years ended December 31, 2015, 2014 and 2013, respectively (dollar amounts in thousands):

	December 31, 2015			December 31, 2014			December 31, 2013
Balance at beginning of period	$	965		$	1,108		$	732
Write downs	—			(103		)	(433		)
Transfer from mortgage loans held in securitization trusts	—			537			1,184
Disposal	(554		)	(577		)	(375		)
Balance at the end of period	$	411		$	965		$	1,108

Delinquencies in Portfolio of Residential Mortgage Loans Held in Securitization Trusts

The table below shows delinquencies in our portfolio of residential mortgage loans held in securitization trusts, including real estate owned (REO) through foreclosure, as of December 31, 2015 (dollar amounts in thousands):

December 31, 2015

Days Late	Number of Delinquent Loans	Total Unpaid Principal		% of Loan Portfolio
30 - 60	3	$	825	0.67	%
61 - 90	2	$	1,763	1.43	%
90+	26	$	15,365	12.48	%
Real estate owned through foreclosure	3	$	574	0.47	%

The table below shows delinquencies in our portfolio of residential mortgage loans held in securitization trusts, including REO through foreclosure, as of December 31, 2014 (dollar amounts in thousands):

December 31, 2014

Days Late	Number of Delinquent Loans	Total Unpaid Principal		% of Loan Portfolio
30 - 60	4	$	1,522	0.99	%
61 - 90	—	$	—	—	%
90+	29	$	16,997	11.01	%
Real estate owned through foreclosure	6	$	2,100	1.36	%

Schedule of Geographic Concentration Risk Exceeding 5%

The geographic concentrations of credit risk exceeding 5% of the total loan balances in our residential mortgage loans held in securitization trusts and REO held in residential securitization trusts at December 31, 2015 and 2014 are as follows:

	December 31, 2015		December 31, 2014
New York	35.6	%	36.1	%
Massachusetts	20.7	%	24.0	%
New Jersey	11.1	%	10.9	%
Florida	7.7	%	6.2	%
Connecticut	6.5	%	5.9	%