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DEBT OBLIGATIONS, NET - Additional Information (Details)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
May 24, 2019
Feb. 26, 2019
Extension
Feb. 06, 2019
USD ($)
Jul. 20, 2018
Apr. 03, 2018
USD ($)
Dec. 06, 2017
USD ($)
Sep. 25, 2017
USD ($)
Mar. 16, 2017
USD ($)
Aug. 01, 2014
USD ($)
Sep. 30, 2019
USD ($)
counterparty
Sep. 30, 2018
USD ($)
Mar. 31, 2017
USD ($)
Sep. 30, 2019
USD ($)
counterparty
agreement
Sep. 30, 2018
USD ($)
agreement
Dec. 31, 2018
USD ($)
Dec. 31, 2016
USD ($)
Jan. 01, 2021
USD ($)
Apr. 01, 2020
USD ($)
Dec. 27, 2018
USD ($)
May 07, 2018
USD ($)
Dec. 21, 2017
USD ($)
Oct. 17, 2017
USD ($)
Feb. 24, 2016
USD ($)
Feb. 19, 2016
Committed Loan and Securities Repurchase Facilities                                                
Gross amounts of recognized liabilities                   $ 1,786,048     $ 1,786,048   $ 663,685                  
Mortgage loan receivables held for investment, net, at amortized cost:                                                
Amortization of premiums                         1,300 $ 762                    
Mortgage loan and financing related to property sales     $ 6,600                                          
Gain (loss) on extinguishment/defeasance of debt     $ (1,100)             0 $ (4,323)   (1,070) (4,392)                    
Collateralized Debt Obligations [Abstract]                                                
Gross amounts offset in the balance sheet                   $ 0     0   0                  
Proceeds from borrowings under debt obligations                         $ 10,186,669 $ 4,401,648                    
Borrowings from Federal Home Loan Bank (FHLB) [Abstract]                                                
Percent of FHLB advances to total debt obligations outstanding                   22.10%     22.10%                      
Retained earnings, appropriated                   $ 829,300     $ 829,300                      
Tuebor                                                
Borrowings from Federal Home Loan Bank (FHLB) [Abstract]                                                
Amount restricted from transfer                   1,900,000     1,900,000                      
Credit Agreement and Revolving Credit Facility                                                
Borrowing Under Credit Facilties and Debt Issuance Costs [Abstract]                                                
Unamortized debt issuance costs                   $ 6,800     $ 6,800   6,300                  
LCFH                                                
Borrowings from Federal Home Loan Bank (FHLB) [Abstract]                                                
Ownership interest in LCFH                   89.80%     89.80%                      
LCFC | LCFH                                                
Borrowings from Federal Home Loan Bank (FHLB) [Abstract]                                                
Ownership interest in LCFH                   100.00%     100.00%                      
Mortgage loan financing                                                
Committed Loan and Securities Repurchase Facilities                                                
Number of agreements | agreement                         9 11                    
Mortgage loan receivables held for investment, net, at amortized cost:                                                
Mortgage loan financing                   $ 723,300     $ 723,300   743,900                  
Net unamortized premiums                   5,300     5,300   5,800                  
Amortization of premiums                   500 300   1,300 $ 800                    
Pledged assets, real estate and lease intangibles, net                   902,700     $ 902,700   $ 939,400                  
Borrowings from the Federal Home Loan Bank | Tuebor                                                
Committed Loan and Securities Repurchase Facilities                                                
Debt borrowings term                         5 years   5 years 9 months                  
Borrowings from Federal Home Loan Bank (FHLB) [Abstract]                                                
Maximum advance limit           $ 2,000,000                                    
Advance rates of total assets           40.00%                                    
Advance rates of total equity           150.00%                                    
FHLB borrowings outstanding                   1,100,000     $ 1,100,000   $ 1,300,000                  
Additional committed term financing available from FHLB                   $ 869,300     $ 869,300   $ 647,500                  
Weighted average term                         2 years 3 months 18 days   2 years 6 months                  
Weighted average interest rate                   2.50%     2.50%   2.55%                  
Maximum percent of FHLB advances to total assets                                               40.00%
Borrowings from the Federal Home Loan Bank | Tuebor | CMBS and U.S. Agency Securities                                                
Borrowings from Federal Home Loan Bank (FHLB) [Abstract]                                                
Collateral for debt instrument                   $ 721,500     $ 721,500   $ 1,000,000                  
Borrowings from the Federal Home Loan Bank | Tuebor | First mortgage commercial real estate loans                                                
Borrowings from Federal Home Loan Bank (FHLB) [Abstract]                                                
Collateral for debt instrument                   689,500     689,500   $ 637,200                  
Borrowings from the Federal Home Loan Bank | Scenario, Forecast | Tuebor                                                
Borrowings from Federal Home Loan Bank (FHLB) [Abstract]                                                
Maximum advance limit                                 $ 750,000 $ 1,500,000            
Senior Unsecured Notes | Senior Notes Due 2021                                                
Borrowing Under Credit Facilties and Debt Issuance Costs [Abstract]                                                
Unamortized debt issuance costs                               $ 400                
Mortgage loan receivables held for investment, net, at amortized cost:                                                
Stated interest rate on debt instrument                 5.875%                              
Gain (loss) on extinguishment/defeasance of debt                               5,100                
Borrowings from Federal Home Loan Bank (FHLB) [Abstract]                                                
Loan refinance                 $ 300,000 $ 266,200     $ 266,200                      
Debt instrument, minimum number of days to give notice for redemption without penalty                 30 days                              
Debt instrument, maximum number of days to give notice for redemption without penalty                 60 days                              
Debt instrument, authorized repurchase amount                                             $ 100,000  
Debt instrument, repurchase price amount                               28,200                
Debt instrument, repurchased face amount                               $ 33,800                
Senior Unsecured Notes | Senior Notes Due 2022                                                
Mortgage loan receivables held for investment, net, at amortized cost:                                                
Stated interest rate on debt instrument               5.25%                                
Borrowings from Federal Home Loan Bank (FHLB) [Abstract]                                                
Loan refinance               $ 500,000                                
Debt instrument, minimum number of days to give notice for redemption without penalty               15 days                                
Debt instrument, maximum number of days to give notice for redemption without penalty               60 days                                
Senior Unsecured Notes | Senior Notes Due 2025                                                
Mortgage loan receivables held for investment, net, at amortized cost:                                                
Stated interest rate on debt instrument             5.25%                                  
Borrowings from Federal Home Loan Bank (FHLB) [Abstract]                                                
Loan refinance             $ 400,000                                  
Debt instrument, minimum number of days to give notice for redemption without penalty             15 days                                  
Debt instrument, maximum number of days to give notice for redemption without penalty             60 days                                  
Maximum | Mortgage loan financing                                                
Mortgage loan receivables held for investment, net, at amortized cost:                                                
Stated interest rate on debt instrument                   6.75%     6.75%                      
Maximum | Borrowings from the Federal Home Loan Bank | Tuebor                                                
Borrowing Under Credit Facilties and Debt Issuance Costs [Abstract]                                                
Advance rates                         95.70%   95.20%                  
Mortgage loan receivables held for investment, net, at amortized cost:                                                
Stated interest rate on debt instrument                   2.95%     2.95%   3.01%                  
Minimum | Mortgage loan financing                                                
Mortgage loan receivables held for investment, net, at amortized cost:                                                
Stated interest rate on debt instrument                   4.25%     4.25%                      
Minimum | Borrowings from the Federal Home Loan Bank | Tuebor                                                
Borrowing Under Credit Facilties and Debt Issuance Costs [Abstract]                                                
Advance rates                         61.00%   56.40%                  
Mortgage loan receivables held for investment, net, at amortized cost:                                                
Stated interest rate on debt instrument                   1.47%     1.47%   1.18%                  
Revolving credit facility                                                
Committed Loan and Securities Repurchase Facilities                                                
Committed amount on credit agreement                                       $ 300,000        
Debt borrowings term         1 year                                      
Revolving credit facility | One-Month LIBOR                                                
Committed Loan and Securities Repurchase Facilities                                                
Committed amount on credit agreement                   $ 266,400     $ 266,400                      
Basis spread on variable rate       25.00%                                        
Number of extension maturity periods | Extension   2                                            
Length of extension options   12 months                                            
Mortgage loan receivables held for investment, net, at amortized cost:                                                
Stated interest rate on debt instrument                   3.25%     3.25%                      
Revolving credit facility | Maximum                                                
Committed Loan and Securities Repurchase Facilities                                                
Committed amount on credit agreement         $ 450,000                                      
Revolving credit facility | Minimum                                                
Committed Loan and Securities Repurchase Facilities                                                
Committed amount on credit agreement         $ 350,000                                      
Letters of credit                                                
Committed Loan and Securities Repurchase Facilities                                                
Committed amount on credit agreement                   $ 25,000     $ 25,000                      
Committed Loan Repurchase Facility                                                
Committed Loan and Securities Repurchase Facilities                                                
Number of agreements | agreement                         6                      
Committed amount on credit agreement                   1,800,000     $ 1,800,000                      
Committed financing                   1,750,000     1,750,000   $ 1,750,000       $ 100,000          
Length of additional extension maturity periods 1 year                                              
Gross amounts of recognized liabilities                   760,521     760,521   497,531                  
Collateralized Debt Obligations [Abstract]                                                
Gross amounts offset in the balance sheet                   1,158,592     1,158,592   744,310                  
Term master repurchase agreement                                                
Committed Loan and Securities Repurchase Facilities                                                
Committed financing                   400,000     400,000                      
Total Repurchase Facilities                                                
Committed Loan and Securities Repurchase Facilities                                                
Committed financing                   $ 2,150,000     $ 2,150,000   2,150,000                  
Repurchase agreements, number of counterparties | counterparty                   10     10                      
Gross amounts of recognized liabilities                   $ 1,786,048     $ 1,786,048   663,685                  
Collateralized Debt Obligations [Abstract]                                                
Gross amounts offset in the balance sheet                   $ 2,309,802     $ 2,309,802   932,113                  
Total Repurchase Facilities | Deutshe Bank, J.P. Morgan and Wells Fargo                                                
Committed Loan and Securities Repurchase Facilities                                                
Repurchase agreements, number of counterparties | counterparty                   2     2                      
Excess collateral over amounts borrowed under repurchase agreements                   $ 82,000     $ 82,000                      
Ratio indebtedness over total equity                         5.00%                      
Haircut on repurchase agreements                   22.80%     22.80%                      
Uncommitted securities Repurchase Facilities | Various Date                                                
Committed Loan and Securities Repurchase Facilities                                                
Gross amounts of recognized liabilities                   $ 940,070     $ 940,070   166,154                  
Collateralized Debt Obligations [Abstract]                                                
Gross amounts offset in the balance sheet                   $ 1,047,663     $ 1,047,663   $ 187,803                  
Uncommitted securities Repurchase Facilities | Maximum                                                
Borrowing Under Credit Facilties and Debt Issuance Costs [Abstract]                                                
Advance rates                         95.00%                      
Uncommitted securities Repurchase Facilities | Maximum | Various Date                                                
Collateralized Debt Obligations [Abstract]                                                
Interest rate                   3.78%     3.78%   4.55%                  
Uncommitted securities Repurchase Facilities | Minimum                                                
Borrowing Under Credit Facilties and Debt Issuance Costs [Abstract]                                                
Advance rates                         75.00%                      
Uncommitted securities Repurchase Facilities | Minimum | Various Date                                                
Collateralized Debt Obligations [Abstract]                                                
Interest rate                   2.45%     2.45%   2.99%                  
Mortgage loan financing | Various Date                                                
Committed Loan and Securities Repurchase Facilities                                                
Committed financing                   $ 723,313     $ 723,313   $ 743,902                  
Gross amounts of recognized liabilities                   723,313     723,313   743,902                  
Collateralized Debt Obligations [Abstract]                                                
Gross amounts offset in the balance sheet                   $ 902,656     $ 902,656   $ 939,362                  
Mortgage loan financing | Maximum | Various Date                                                
Collateralized Debt Obligations [Abstract]                                                
Interest rate                   6.75%     6.75%   7.00%                  
Mortgage loan financing | Minimum | Various Date                                                
Collateralized Debt Obligations [Abstract]                                                
Interest rate                   4.25%     4.25%   4.25%                  
CLO Debt | Various Date                                                
Committed Loan and Securities Repurchase Facilities                                                
Committed financing                   $ 117,760     $ 117,760   $ 601,543                  
Gross amounts of recognized liabilities                   117,760     117,760   601,543                  
Collateralized Debt Obligations [Abstract]                                                
Unamortized debt issuance costs                   400     400   2,600                  
Gross amounts offset in the balance sheet                   $ 274,149     $ 274,149   $ 710,502           $ 431,500 $ 456,900    
CLO Debt | Affiliated Entity | Various Date                                                
Collateralized Debt Obligations [Abstract]                                                
Ownership percentage                                         25.00% 18.50%    
CLO Debt | Maximum | Various Date                                                
Collateralized Debt Obligations [Abstract]                                                
Interest rate                   5.62%     5.62%   6.06%                  
CLO Debt | Minimum | Various Date                                                
Collateralized Debt Obligations [Abstract]                                                
Interest rate                   3.40%     3.40%   3.34%                  
CLO Debt | Weighted Average | Various Date                                                
Collateralized Debt Obligations [Abstract]                                                
Interest rate                   4.97%     4.97%                      
Participation Financing - Mortgage Loan Receivable                                                
Committed Loan and Securities Repurchase Facilities                                                
Gross amounts of recognized liabilities                   $ 0     $ 0   $ 2,500                  
Collateralized Debt Obligations [Abstract]                                                
Proceeds from borrowings under debt obligations                       $ 4,000                        
Participation Financing - Mortgage Loan Receivable | Related Reserve IV LLC | Affiliated Entity | B Participation Interest                                                
Collateralized Debt Obligations [Abstract]                                                
Interest expense, debt                     $ 100   200 $ 400                    
Senior Unsecured Notes                                                
Collateralized Debt Obligations [Abstract]                                                
Unamortized debt issuance costs                   9,084     9,084                      
Senior Unsecured Notes | Various Date                                                
Collateralized Debt Obligations [Abstract]                                                
Unamortized debt issuance costs                   9,100     9,100   11,200                  
Borrowings from Federal Home Loan Bank (FHLB) [Abstract]                                                
Loan refinance                   $ 1,166,201     $ 1,166,201   $ 1,166,201                  
Senior Unsecured Notes | Maximum | Various Date                                                
Collateralized Debt Obligations [Abstract]                                                
Interest rate                   5.875%     5.875%   5.875%                  
Senior Unsecured Notes | Minimum | Various Date                                                
Collateralized Debt Obligations [Abstract]                                                
Interest rate                   5.25%     5.25%   5.25%