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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
OPERATING ACTIVITIES    
Net Loss $ (3,237) $ (27,099)
Adjustments to reconcile net loss to net cash used in operating activities:    
Debt Termination Charge 0 21,658
Impairment of Real Estate Owned 140 0
Non-cash Recovery of Investment in Unconsolidated Entities (3,064) 0
Non-cash Recovery of Real Estate Owned (6,824) 0
Other Non-cash Recovery of Credit Losses (501) 0
Stock-Based Compensation and Option Amortization 597 578
Gain on Disposal of Assets (23) (17,630)
Amortization of Deferred Financing Costs 1,383 881
Depreciation and Amortization Expense 1,927 2,798
Accretion of Mortgage Income 0 (1,689)
Accretion of Discount on Notes Payable 456 1,425
Increase (decrease) in cash resulting from changes in:    
Accrued Interest Receivable (607) 110
Other Receivables 1,244 (1,997)
Other Assets 1,249 595
Accrued Property Taxes (437) 4
Accounts Payable and Accrued Expenses (2,133) 510
Customer Deposits and Funds Held For Others 842 (662)
Accrued Interest Payable (812) 2,274
Total adjustments, net (6,563) 8,855
Net cash used in operating activities (9,800) (18,244)
INVESTING ACTIVITIES    
Proceeds from Sales of Mortgage Loans 27,371 0
Proceeds from Sale/Recovery of Real Estate Owned 17,229 51,001
Purchases of Property and Equipment (34) (23)
Issuance of Other Notes Receivables 0 (2,100)
Mortgage Loan Fundings and Protective Advances (289) (27)
Mortgage Loan Repayments 320 5,681
Collection of Other Notes Receivables 0 2,100
Investment in Real Estate Owned (19,897) (4,678)
Net cash provided by investing activities 24,700 51,954
FINANCING ACTIVITIES    
Proceeds from Issuance of Preferred Equity 0 18,580
Proceeds from Notes Payable 88,333 0
Proceeds from Convertible Notes Payable 0 71
Repayment of Convertible Debt 0 (28,295)
Debt Termination Costs 0 (1,802)
Debt Issuance Costs Paid (3,090) 0
Increase in Restricted Cash (29,852) (4,243)
Repayments of Notes Payable (61,810) (19,001)
Purchase of Notes Payable 0 (1,289)
Repayments of Capital Leases (18) (41)
Dividends Paid (1,061) 0
Purchase of Treasury Stock 0 (2,565)
Net cash used in financing activities (7,498) (38,585)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 7,402 (4,875)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 1,915 7,875
CASH AND CASH EQUIVALENTS, END OF PERIOD 9,317 3,000
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 5,550 5,543
Real Estate Acquired Through Guarantor Settlement 6,824 0
Capital Expenditures in Accounts Payable and Accrued Expenses 6,063 0
Investment in Unconsolidated Entities Acquired Through Guarantor Settlement $ 3,064 $ 0