SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Schedule of interest expense

For the three and six months ended June 30, 2022 and 2021, interest expense is comprised of the following ($ in thousands):

	For the three months ended June 30,				For the six months ended June 30,
	2022		2021		2022		2021
Secured funding agreements	$	6,342	$	3,196	$	11,469	$	7,019
Notes payable (1)	531		279		984		1,473
Securitization debt	5,591		5,136		9,942		9,444
Secured term loan	1,752		797		3,484		2,138
Secured borrowings	296		1,450		588		2,881
Other (2)	(1,037)		234		(979)		276
Interest expense	$	13,475	$	11,092	$	25,488	$	23,231

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(1)    Excludes interest expense on the $28.3 million note payable, which was secured by a hotel property that was recognized as real estate owned in the Company’s consolidated balance sheets (see Note 6 included in these consolidated financial statements for additional information on the note payable). Interest expense on the $28.3 million note payable is included within expenses from real estate owned in the Company’s consolidated statements of operations.

(2)    Represents the net interest expense recognized from the Company’s derivative financial instruments upon periodic settlement.