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Investment In Affiliates
 6 Months Ended
Jun. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]  
Investment In Affiliates
Investment in Affiliates

Origen Financial Services, LLC (“OFS LLC”)

At June 30, 2014 and 2013, we had a 22.9% ownership interest in OFS LLC, an entity formed to originate manufactured housing installment contracts.  We have suspended equity accounting as the carrying value of our investment is zero.

Origen Financial, Inc. (“Origen”)

Through Sun OFI, LLC, a taxable REIT subsidiary, we own 5,000,000 shares of common stock of Origen which approximates an ownership interest of 19%. Although it is no longer originating or servicing loans, Origen continues to manage an existing portfolio of manufactured home loans and asset backed securities. We have suspended equity accounting for this investment as the carrying value of our investment is zero. We do, however, receive income from distributions on our shares of Origen common stock.  Per Origen's amended earnings release dated June 3, 2014, the distribution payment represented a return of capital. Our investment in Origen had a market value of approximately $7.8 million based on a quoted market closing price of $1.56 per share from the OTC Pink Marketplace as of June 30, 2014.

The following table sets forth certain summarized unaudited financial information for Origen. The unaudited revenue and expense amounts represent actual results through May 2014 and budgeted June 2014 results (amounts in thousands):

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
(unaudited)
 
2014
 
2013
 
2014
 
2013
Revenues
$
11,045

 
$
13,207

 
$
22,252

 
$
25,880

Expenses
(11,143
)
 
(13,034
)
 
(22,447
)
 
(27,560
)
Net income (loss)
$
(98
)
 
$
173

 
$
(195
)
 
$
(1,680
)