XML 38 R27.htm IDEA: XBRL DOCUMENT v3.10.0.1
Loans Held for Investment (Tables)
 6 Months Ended
Jun. 30, 2018
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]  
Summary of changes in carrying value of securitized loans held for investment carried at fair value
The following table provides a summary of the changes in the carrying value of Loans held for investment at fair value at June 30, 2018 and December 31, 2017:

 
For the Six Months Ended
For the Year Ended
 
June 30, 2018
December 31, 2017
 
(dollars in thousands)
Balance, beginning of period
$
13,678,263

$
8,753,653

Purchases
924,283

6,539,765

Principal paydowns
(944,146
)
(1,788,409
)
Sales and settlements
(389,798
)
2,876

Net periodic accretion (amortization)
(43,594
)
(35,803
)
Change in fair value
21,513

206,181

Balance, end of period
$
13,246,521

$
13,678,263
Schedule of percentage of securitized loans held for investment carried at fair value by year originated
The loan portfolio for all residential mortgages were originated during the following years:
Origination Year
June 30, 2018
December 31, 2017

2002 and prior
7.5
%
7.5
%
2003
6.7
%
6.7
%
2004
14.4
%
14.6
%
2005
20.1
%
20.4
%
2006
23.3
%
23.1
%
2007
19.1
%
19.0
%
2008
6.0
%
6.0
%
2009
0.8
%
0.7
%
2010 and later
2.1
%
2.0
%
Total
100.0
%
100.0
%
Schedule of securitized loans held for investment types and characteristics of underlying collateral
The following table summarizes the outstanding principal balance of the residential loan portfolio which are 30 days delinquent and greater as reported by the servicer at June 30, 2018 and December 31, 2017.




 
30 Days Delinquent
60 Days Delinquent
90+ Days Delinquent
Bankruptcy
Foreclosure
REO
Total
Unpaid Principal/Notional
 
(dollars in thousands)
 
June 30, 2018
$797,730
$288,255
$396,269
$244,955
$262,100
$34,519
$2,023,828
$13,083,186
% of Unpaid Principal Balance
6.1%
2.2%
3.0%
1.9%
2.0%
0.3%
15.5%

 
 
 
 
 
 
 
 
 
December 31, 2017
$888,535
$353,810
$435,876
$272,778
$200,376
$31,008
$2,182,383
$13,525,820
% of Unpaid Principal Balance
6.6%
2.6%
3.2%
2.0%
1.5%
0.2%
16.1%
Seasoned Subprime Residential Mortgage Loans  
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]  
Schedule of securitized loans held for investment carried at fair value key characteristics of underlying collateral
The following table presents a summary of key characteristics of the residential loan portfolio at June 30, 2018 and December 31, 2017:
 
June 30, 2018
December 31, 2017
Number of loans
 
144,451

 
149,172

Weighted average maturity (years)
 
18.8

 
18.8

Weighted average loan to value (1)
 
87.5
%
 
88.0
%
Weighted average FICO (1)
 
630

 
631

Weighted average loan balance (in thousands)
 
$
91

 
$
91

Weighted average percentage owner occupied
 
92.8
%
 
95.0
%
Weighted average percentage single family residence
 
86.2
%
 
86.0
%
Weighted average geographic concentration of top five states
CA
9.1
%
CA
9.0
%
 
FL
7.2
%
FL
7.2
%
 
OH
6.0
%
OH
6.1
%
 
NY
5.6
%
PA
5.6
%
 
PA
5.6
%
VA
5.5
%
(1) As provided by the Trustee.