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Residential Mortgage Loans Held in Securitization Trusts (Net) and Real Estate Owned (Tables)
 6 Months Ended
Jun. 30, 2017
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 as of June 30, 2017 and December 31, 2016, respectively (dollar amounts in thousands):
 
June 30, 2017
 
December 31, 2016
Unpaid principal balance
$
89,329

 
$
98,303

Deferred origination costs – net
565

 
623

Reserve for loan losses
(3,983
)
 
(3,782
)
Total
$
85,911

 
$
95,144
Allowance for Loan Losses on Residential Mortgage Loans Held in Securitization Trusts
The following table presents the activity in the Company's allowance for loan losses on residential mortgage loans held in securitization trusts for the six months ended June 30, 2017 and 2016, respectively (dollar amounts in thousands):
 
Six Months Ended June 30,
 
2017
 
2016
Balance at beginning of period
$
3,782

 
$
3,399

Provisions for loan losses
207

 
409

Transfer to real estate owned
(6
)
 
—

Charge-offs
—

 
(76
)
Balance at the end of period
$
3,983

 
$
3,732
Activity in Real Estate Owned Held in Residential Securitization Trust
The following table presents the activity in the Company’s real estate owned held in residential securitization trusts for the six months ended June 30, 2017 and 2016, respectively (dollar amounts in thousands):
 
Six Months Ended June 30,
 
2017
 
2016
Balance at beginning of period
$
150

 
$
411

Write downs
—

 
—

Transfer from/(to) mortgage loans held in securitization trusts
111

 
—

Disposal
(150
)
 
(339
)
Balance at the end of period
$
111

 
$
72
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 through foreclosure (REO), as of December 31, 2016 (dollar amounts in thousands):

December 31, 2016
Days Late
Number of Delinquent
Loans
 
Total
Unpaid Principal
 
% of Loan
Portfolio
30 - 60
1
 
$
247

 
0.25
%
61 - 90
—
 
$
—

 
—

90 +
30
 
$
18,416

 
18.68
%
Real estate owned through foreclosure
1
 
$
268

 
0.27
%

The table below shows delinquencies in our portfolio of residential mortgage loans held in securitization trusts, including REO through foreclosure, as of June 30, 2017 (dollar amounts in thousands):

June 30, 2017
Days Late
Number of
Delinquent
Loans 
 
Total
Unpaid
Principal 
 
% of Loan
Portfolio 
30 - 60
2
 
$
430

 
0.48
%
61 - 90
1
 
$
154

 
0.17
%
90 +
26
 
$
17,118

 
19.14
%
Real estate owned through foreclosure
1
 
$
118

 
0.13
%
Schedule of Geographic Concentration of Credit Risk
The geographic concentrations of credit risk exceeding 5% of the total loan balances in our residential mortgage loans held in securitization trusts and real estate owned held in residential securitization trusts as of June 30, 2017 and December 31, 2016 are as follows:
 
June 30, 2017
 
December 31, 2016
New York
32.9
%
 
33.8
%
Massachusetts
19.8
%
 
19.9
%
New Jersey
10.9
%
 
10.8
%
Florida
9.6
%
 
8.9
%
Connecticut
8.0
%
 
7.4
%
Maryland
5.1
%
 
5.1
%