Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2021

Related Party Transactions [Abstract]

Schedule of related party transactions

The Company’s consolidated statements of income included the following significant related party transactions ($ in thousands):

			Three months ended September 30,
Transaction	Consolidated Statement of Income location	Counterparty	2021		2020
Interest income on securities and beneficial interest and net decrease in the net present value of expected credit losses on beneficial interests	Net interest income after the impact of changes in the net present value of expected credit losses	Various non-consolidated joint ventures	$	9,896	$	6,536
Management fee	Related party expense – management fee	Manager	$	2,289	$	2,264
Loan servicing fees	Related party expense – loan servicing fees	Servicer	$	1,743	$	1,848
Gain on sale of securities	Other income	Various non-consolidated joint ventures	$	201	$	145

			Three months ended September 30,
Transaction	Consolidated Statement of Income location	Counterparty	2021		2020
Income from equity investment	Income/(loss) from investments in affiliates	Manager	$	132	$	75
Affiliate loan interest income	Interest income	Gaea	$	74	$	—
Income from equity investment	Income/(loss) from investments in affiliates	AS Ajax E LLC	$	11	$	9
Loss from equity investment	Income/(loss) from investments in affiliates	Loan pool LLCs	$	(16)	$	(46)
(Loss)/income from equity investment	Income/(loss) from investments in affiliates	Gaea	$	(28)	$	14
Loss from equity investment	Income/(loss) from investments in affiliates	Servicer	$	(37)	$	(116)

			Nine months ended September 30,
Transaction	Consolidated Statement of Income location	Counterparty	2021		2020
Interest income on securities and beneficial interest and net decrease in the net present value of expected credit losses on beneficial interests	Net interest income after the impact of changes in the net present value of expected credit losses	Various non-consolidated joint ventures	$	24,835	$	16,386
Management fee	Related party expense – management fee	Manager	$	6,826	$	6,206
Loan servicing fees	Related party expense – loan servicing fees	Servicer	$	5,275	$	5,798
Income/(loss) from equity investment	Income/(loss) from investments in affiliates	Manager	$	583	$	(364)
Affiliate loan interest income	Interest income	Gaea	$	203	$	—
Gain on sale of securities	Other income	Various non-consolidated joint ventures	$	201	$	145
Gain on refinancing of securitization trust	Other income	2021-C	$	122	$	—
Income from equity investment	Income/(loss) from investments in affiliates	Gaea	$	32	$	74
Income from equity investment	Income/(loss) from investments in affiliates	AS Ajax E LLC	$	27	$	25
Loss on sale of mortgage loans	Other income	Gaea	$	—	$	(705)
(Loss)/income from equity investment	Income/(loss) from investments in affiliates	Loan pool LLCs	$	(37)	$	10
Loss from equity investment	Income/(loss) from investments in affiliates	Servicer	$	(92)	$	(320)

The Company’s consolidated balance sheets included the following significant related party balances ($ in thousands):

			As of September 30, 2021
Transaction	Consolidated Balance Sheet location	Counterparty	Amount
Investment in beneficial interests	Investment in beneficial interests	Various non-consolidated joint ventures	$	139,494
Receivables from Servicer	Receivable from servicer	Servicer	$	18,128
Affiliate loan receivable	Mortgage loans held-for-investment, net	Gaea	$	10,025
Management fee payable	Management fee payable	Manager	$	2,289

			As of September 30, 2021
Transaction	Consolidated Balance Sheet location	Counterparty	Amount
Expense reimbursement receivable	Prepaid expenses and other assets	Various non-consolidated joint ventures	$	1,354
Servicing fee payable	Accrued expenses and other liabilities	Servicer	$	(92)

			As of December 31, 2020
Transaction	Consolidated Balance Sheet location	Counterparty	Amount
Investment in beneficial interests	Investment in beneficial interests	Various non-consolidated joint ventures	$	91,418
Receivables from Servicer	Receivable from servicer	Servicer	$	15,755
Affiliate loan receivable	Mortgage loans held-for-investment, net	Gaea	$	11,000
Management fee payable	Management fee payable	Manager	$	2,247
Affiliate loan purchase	Mortgage loans held-for-investment, net	Servicer	$	1,838
Expense reimbursement receivable	Prepaid expenses and other assets	Various non-consolidated joint ventures	$	876
Expense reimbursement receivable	Prepaid expenses and other assets	Manager	$	18
Expense reimbursements	Accrued expenses and other liabilities	Servicer	$	(44)