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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

The following table presents the Company’s financial instruments carried at fair value in the consolidated balance sheets by its level in the fair value hierarchy:

	December 31, 2018								December 31, 2017
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Mortgage-backed securities	$	1,987		—	$	1,987		—		—		—		—		—

Summary of Carrying Amount, Face Amount, and Fair Value of Financial Instruments

The following table details the carrying amount, face amount, and fair value of the financial instruments described in Note 2:

	December 31, 2018						December 31, 2017
	Book Value		Face Amount		Fair Value		Book Value		Face Amount		Fair Value
Financial Assets
Cash, cash equivalents and restricted cash	$	2,608	$	2,608	$	2,608	$	2,442	$	2,442	$	2,442
Loans receivable (1)	$	239,207	$	238,979	$	239,342	$	49,929	$	49,850	$	49,945
Financial Liabilities
Repurchase obligations	$	158,248	$	159,126	$	159,126	$	22,798	$	23,250	$	23,250

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details