Mortgage Loans on Real Estate

December 31, 2017



Asset Type	Number	Interest Rate	Maturity Date Range	Balance Sheet Reported Amount		Principal Amount of Loans Subject to Delinquent Principal or Interest
(Dollars in Thousands)
Residential Whole Loans, at Carrying Value
Original loan balance $0 - $149,999	1,779	0.00% - 13.08%	9/15/2015-11/1/2057	$	124,818	$	17,107
Original loan balance $150,000 - $299,999	1,669	1.00% - 11.00%	5/1/2016-11/1/2064	269,846		33,693
Original loan balance $300,000 - $449,999	876	2.00% - 10.00%	3/1/2018-5/1/2062	255,520		26,974
Original loan balance greater than $449,999	468	1.88% - 9.50%	9/1/2018-12/1/2057	258,332		20,300
	4,792			$	908,516	$	98,074

Residential Whole Loans, at Fair Value
Original loan balance $0 - $149,999	2,349	0.00% - 14.99%	7/2/2007-11/1/2057	$	169,575	$	118,572
Original loan balance $150,000 - $299,999	2,154	0.00% - 12.38%	7/1/2008-10/25/2057	346,425		262,686
Original loan balance $300,000 - $449,999	1,273	1.50% - 11.00%	7/1/2013-12/1/2057	373,112		271,908
Original loan balance greater than $449,999	738	1.00% - 10.88%	9/1/2013-11/1/2057	436,003		374,652
	6,514			$	1,325,115	$	1,027,818

	11,306			$	2,233,631	$	1,125,892

Reconciliation of Balance Sheet Reported Amounts of Mortgage Loans on Real Estate

The following table summarizes the changes in the carrying amounts of residential whole loans during the year ended December 31, 2017:



	For the Year Ended December 31, 2017
(In Thousands)	Residential Whole Loans, at Carrying Value			Residential Whole Loans, at Fair Value
Beginning Balance	$	590,540		$	814,682
Additions during period:
Purchases and capitalized advances	385,093			683,735
Discount accretion	5,477			N/A
Deductions during period:
Cash collections for principal and liquidations	(63,521		)	(87,072		)
Changes in fair value recorded in Net gain on residential whole loans held at fair value	N/A			33,617
Provision for loan loss	660			N/A
Repurchases	—			(2,716		)
Transfer to REO	(9,733		)	(117,131		)
Ending Balance	$	908,516		$	1,325,115