MORTGAGE LOANS HELD-FOR-SALE, at FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2017

Mortgage loans held-for-sale Disclosure [Abstract]

Carrying Value of Mortgage Loans Held-for-Sale

The following table presents the carrying value of the Company’s mortgage loans held-for-sale as of December 31, 2017 and December 31, 2016:

	December 31, 2017		December 31, 2016
Unpaid principal balance	$	—	$	2,867,263
Fair value adjustment	—		(17,727		)
Carrying value	$	—	$	2,849,536

Geographic Concentrations

The geographic concentrations of credit risk exceeding 5% of the total loan balances related to the mortgage loans held-for-sale as of December 31, 2017 and December 31, 2016 are as follows:

	December 31, 2017	December 31, 2016
Texas	—	56.0	%
Kentucky	—	24.4	%
North Carolina	—	19.6	%

The geographic concentrations of credit risk exceeding 5% of the total loan balances related to the FREMF trusts as of December 31, 2017 and December 31, 2016 are as follows:

December 31, 2017			December 31, 2016
New York	16.5	%	Texas	17.9	%
Texas	14.2	%	New York	15.7	%
Washington	8.7	%	Washington	8.4	%
Colorado	7.8	%	Colorado	7.5	%
Georgia	5.7	%	Georgia	5.5	%