Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2023

Related Party Transactions [Abstract]

Schedule of related party transactions

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

			Three months ended June 30,
Transaction	Consolidated Statement of Operations location	Counterparty	2023		2022
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	$	4,480	$	4,855
Management fee	Related party expense – management fee	Manager	$	2,001	$	2,363
Loan servicing fees	Related party expense – loan servicing fees	Servicer	$	1,827	$	2,006
Affiliate loan interest income	Interest income	Servicer	$	137	$	67
Income from equity investment	Loss from investments in affiliates	AS Ajax E LLC	$	9	$	4
Loss from equity investment	Loss from investments in affiliates	Loan pool LLCs	$	(6)	$	(5)
Loss from equity investment	Loss from investments in affiliates	Servicer	$	(20)	$	(170)
Loss from equity investment	Loss from investments in affiliates	Manager	$	(29)	$	(71)
Loss from equity investment	Loss from investments in affiliates	Gaea	$	(270)	$	(143)
Loss from joint venture re-securitization on beneficial interests	Loss on joint venture refinancing on beneficial interests	Various non-consolidated joint ventures	$	(8,814)	$	(2,142)

			Six months ended June 30,
Transaction	Consolidated Statement of Operations location	Counterparty	2023		2022
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	$	9,050	$	12,075
Management fee	Related party expense – management fee	Manager	$	3,829	$	4,656
Loan servicing fees	Related party expense – loan servicing fees	Servicer	$	3,687	$	4,097
Affiliate loan interest income	Interest income	Servicer	$	202	$	134
Income from equity investment	Loss from investments in affiliates	AS Ajax E LLC	$	20	$	7
Loss from equity investment	Loss from investments in affiliates	Loan pool LLCs	$	(16)	$	(13)
Loss from equity investment	Loss from investments in affiliates	Manager	$	(27)	$	(112)
Loss from equity investment	Loss from investments in affiliates	Servicer	$	(87)	$	(263)
Loss from equity investment	Loss from investments in affiliates	Gaea	$	(513)	$	(101)
Loss from joint venture re-securitization on beneficial interests	Loss on joint venture refinancing on beneficial interests	Various non-consolidated joint ventures	$	(9,809)	$	(6,115)

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

Transaction	Consolidated Balance Sheet location	Counterparty	As of June 30, 2023
Investment in beneficial interests	Investments in beneficial interests	Various non-consolidated joint ventures	$	127,474
Affiliate loan receivable and interest	Prepaid expenses and other assets	Servicer	$	10,035
Receivables from Servicer	Receivable from servicer	Servicer	$	7,514
Management fee payable	Management fee payable	Manager	$	1,999
Servicing fee payable	Accrued expenses and other liabilities	Servicer	$	90

Transaction	Consolidated Balance Sheet location	Counterparty	As of December 31, 2022
Investment in beneficial interests	Investment in beneficial interests	Various non-consolidated joint ventures	$	134,552
Receivables from Servicer	Receivable from servicer	Servicer	$	7,450
Affiliate loan receivable and interest	Prepaid expenses and other assets	Servicer	$	1,869
Management fee payable	Management fee payable	Manager	$	1,720
Servicing fee payable	Accrued expenses and other liabilities	Servicer	$	101