SECURITIES (Tables)

3 Months Ended

Mar. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Summary of the company's securities which are carried at estimated fair value

The following table summarizes the Company’s securities as of March 31, 2016 and December 31, 2015 (amounts in thousands):

	March 31, 2016						December 31, 2015
	Par		Amortized Cost		Estimated Fair Value		Par		Amortized Cost		Estimated Fair Value
Securities, at estimated fair value	$	495,548	$	442,325	$	336,764	$	520,135	$	474,201	$	417,519
Total	$	495,548	$	442,325	$	336,764	$	520,135	$	474,201	$	417,519

Schedule of realized and unrealized gains from securities

The following table presents the Company’s realized and unrealized gains (losses) from securities (amounts in thousands):

	Three months ended March 31, 2016			Three months ended March 31, 2015
Net realized gains (losses)	$	(1,593	)	$	(526	)
Net (increase) decrease in unrealized losses	(50,126		)	1,834
Net (increase) decrease in unrealized losses	$	(51,719	)	$	1,308

The following tables present the Company’s realized and unrealized gains (losses), which are accounted for similarly to securities and loans, from equity investments and interests in joint ventures and partnerships (amounts in thousands):

	Three months ended March 31, 2016						Three months ended March 31, 2015
	Equity Investments			Interests in Joint Ventures and Partnerships (1)			Equity Investments			Interests in Joint Ventures and Partnerships (1)
Net realized gains (losses)	$	725		$	(2,162	)	$	1,424		$	—
Net (increase) decrease in unrealized losses	(15,992		)	(83,093		)	(22,426		)	(26,499		)
Net realized and unrealized gains (losses)	$	(15,267	)	$	(85,255	)	$	(21,002	)	$	(26,499	)

(1) Includes net loss attributable to noncontrolling interests of $15.5 million and $6.1 million for the three months ended March 31, 2016 and March 31, 2015, respectively.

Schedule of estimated fair value of securities pledged as collateral

The following table summarizes the estimated fair value of securities pledged as collateral as of March 31, 2016 and December 31, 2015 (amounts in thousands):

	March 31, 2016		December 31, 2015
Pledged as collateral for collateralized loan obligation secured debt	$	136,318	$	170,365
Total	$	136,318	$	170,365