XML 74 R59.htm IDEA: XBRL DOCUMENT v3.6.0.2
Loans - Held for Investment (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Investments in loans        
Total gross loans $ 5,956,062 $ 6,269,546    
Loan loss allowance (loans held-for-investment) (9,788) (6,029) $ (6,031) $ (3,984)
Carrying Value 5,946,274 6,263,517    
Face Amount 5,988,254 6,335,023    
Loans with variable rates of interest $ 5,330,218 5,052,055    
Loans with variable rates of interest (as a percent) 91.00%      
Weighted average spread of loans (as a percent) 5.50%      
1-month LIBOR        
Investments in loans        
Loans with variable rates of interest $ 880,357 $ 438,641    
Effective variable rate basis (as a percent) 0.7717% 0.4295%    
3-month LIBOR GBP        
Investments in loans        
Loans with variable rates of interest   $ 375,467    
Effective variable rate basis (as a percent)   0.5904%    
LIBOR floor        
Investments in loans        
Loans with variable rates of interest $ 4,449,861 $ 4,237,947    
LIBOR floor | Weighted-average        
Investments in loans        
Effective variable rate basis (as a percent) 0.36% 0.31%    
LIBOR floor | Minimum        
Investments in loans        
Effective variable rate basis (as a percent) 0.15% 0.15%    
LIBOR floor | Maximum        
Investments in loans        
Effective variable rate basis (as a percent) 3.00% 3.00%    
Total loans held-for-investment        
Investments in loans        
Total gross loans $ 5,857,783 $ 5,979,108    
Face Amount 5,890,189 6,043,313    
Loans held-for-sale        
Investments in loans        
Total gross loans 63,279 203,865    
Face Amount $ 63,065 $ 203,710    
Weighted Average Coupon (as a percent) 5.30% 4.90%    
Weighted Average Life 10 years 9 years 9 months 18 days    
Loans transferred as secured borrowings        
Investments in loans        
Total gross loans $ 35,000 $ 86,573    
Face Amount $ 35,000 $ 88,000    
Weighted Average Coupon (as a percent) 6.20% 6.10%    
Weighted Average Life 4 months 24 days 2 years 4 months 24 days    
First Mortgages: | Total loans held-for-investment        
Investments in loans        
Total gross loans $ 4,865,994 $ 4,723,852    
Face Amount $ 4,881,656 $ 4,776,576    
Weighted Average Coupon (as a percent) 5.70% 6.00%    
Weighted Average Life 2 years 2 months 12 days 2 years 8 months 12 days    
Subordinated mortgages | Total loans held-for-investment        
Investments in loans        
Total gross loans $ 278,032 $ 392,563    
Face Amount $ 293,925 $ 416,713    
Weighted Average Coupon (as a percent) 8.90% 8.50%    
Weighted Average Life 3 years 3 months 18 days 3 years 4 months 24 days    
Mezzanine Loans        
Investments in loans        
Carrying Value $ 964,100 $ 930,000    
Mezzanine Loans | Total loans held-for-investment        
Investments in loans        
Total gross loans 713,757 862,693    
Face Amount $ 714,608 $ 850,024    
Weighted Average Coupon (as a percent) 9.60% 9.90%    
Weighted Average Life 1 year 9 months 18 days 2 years 6 months