Other Assets

12 Months Ended

Dec. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

The following table summarizes our other assets as of December 31, 2019 and 2018:



$ in thousands	December 31, 2019	December 31, 2018
FHLBI stock	74,250	74,250
Loan participation interest	44,654	54,981
Commercial loans, held-for-investment	24,055	31,582
Investments in unconsolidated ventures	21,998	24,012
Prepaid expenses and other assets	1,223	1,234
Total	166,180	186,059

IAS Services LLC, our wholly-owned captive insurance subsidiary, is required to purchase and hold FHLBI stock as a condition of membership in the FHLBI. The stock is recorded at cost.

In August 2018, we acquired a participation interest in a secured loan collateralized by mortgage servicing rights. The secured loan is due in August 2020 and is subject to a one year extension at the borrower's option. The participation interest bears interest at a floating rate based on LIBOR plus a spread. The weighted average asset yield for the participation interest was 5.82% as of December 31, 2019 and 6.06% as of December 31, 2018. We elected to account for the investment using the fair value option. Refer to Note 15 - “Commitments and Contingencies” for additional details regarding our unfunded commitment on this loan participation interest.

As of December 31, 2019, our commercial loan portfolio consisted of one commercial loan that matures in February 2021. (2018: two commercial loans with a weighted average maturity of 1.7 years). The loans had a weighted average coupon rate of 10.19% as of December 31, 2019 and 10.69% as of December 31, 2018. The loans were not impaired, and we have not recorded an allowance for loan losses as of December 31, 2019 and December 31, 2018 based on our analysis of credit quality factors as described in Note 2 - “Summary of Significant Accounting Policies”.

We have invested in unconsolidated ventures that are managed by an affiliate of our Manager. The unconsolidated ventures invest in our target assets. Refer to Note 15 - “Commitments and Contingencies” for additional details regarding our commitments to these unconsolidated ventures.