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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
OPERATING ACTIVITIES    
Net Income (Loss) $ (9,292) $ 2,769
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Non-cash Investment in Unconsolidated Entities 0 (3,064)
Equity in Net Loss of Unconsolidated Ventures 190 0
Non-cash Recovery of Real Estate Owned 0 (6,824)
Other Non-cash Recovery of Credit Losses 0 (501)
Impairment of Real Estate Owned 0 140
Stock-Based Compensation and Option Amortization 425 357
Loss (Gain) on Disposal of Assets (22) 282
Amortization of Deferred Financing Costs 749 923
Depreciation and Amortization Expense 2,239 1,282
Accretion of Mortgage Income 0 (138)
Accretion of Discount on Notes Payable 345 297
Increase (decrease) in cash resulting from changes in:    
Accrued Interest Receivable 5 (344)
Other Receivables (164) (458)
Other Assets (116) 416
Accrued Property Taxes (88) (262)
Accounts Payable and Accrued Expenses 489 4,561
Customer Deposits and Funds Held For Others 678 900
Accrued Interest Payable 131 (911)
Decrease in Restricted Cash 918 0
Total adjustments, net 5,779 (3,344)
Net cash used in operating activities (3,513) (575)
INVESTING ACTIVITIES    
Proceeds from Sales of Mortgage Loans 3,044 13,674
Proceeds from Sale/Recovery of Real Estate Owned 3,292 11,592
Proceeds from Mortgage Payoffs 7,632 0
Purchases of Property and Equipment (18) (34)
Mortgage Loan Fundings and Protective Advances 0 (289)
Mortgage Loan Repayments 0 183
Investment in Unconsolidated Entities (135) 0
Investment in Real Estate Owned (8,250) (16,196)
Decrease in Restricted Cash 516 0
Net cash provided by investing activities 6,081 8,930
FINANCING ACTIVITIES    
Proceeds from Notes Payable 6,574 82,373
Debt Issuance Costs Paid (504) (2,960)
Increase in Restricted Cash 0 (17,082)
Repayments of Notes Payable (5,616) (61,721)
Repayments of Capital Leases (11) (13)
Dividends Paid (1,073) (1,061)
Net cash used in financing activities (630) (464)
NET INCREASE IN CASH AND CASH EQUIVALENTS 1,938 7,891
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 7,603 1,915
CASH AND CASH EQUIVALENTS, END OF PERIOD 9,541 9,806
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 1,891 4,196
Real Estate Acquired Through Guarantor Settlement 0 6,824
Capital Expenditures in Accounts Payable and Accrued Expenses $ 2,916 $ 3,153