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Schedule IV - Mortgage Loans on Real Estate
 12 Months Ended
Dec. 31, 2019
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]  
Schedule IV - Mortgage Loans on Real Estate Mortgage Loans on Real Estate

December 31, 2019

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
 
4,783

 
0.00% - 13.08%
 
9/1/2016-1/1/2060
 
$
426,999

 
$
19,807

  Original loan balance $150,000 - $299,999
 
5,472

 
0.00% - 13.49%
 
11/1/2018-11/1/2064
 
1,059,013

 
49,221

  Original loan balance $300,000 - $449,999
 
3,380

 
1.90% - 10.50%
 
12/1/2018-5/1/2062
 
1,168,588

 
49,674

  Original loan balance greater than $449,999
 
3,446

 
1.90% - 11.25%
 
10/1/2018-1/1/2060
 
3,414,526

 
81,617

 
 
17,081

 
 
 
 
 
$
6,069,126

(1)
$
200,319

 
 
 
 
 
 
 
 
 
 
 
Residential Whole Loans, at Fair Value
 
 
 
 
 
 
 
 
 
 
  Original loan balance $0 - $149,999
 
2,329

 
0.00% - 14.99%
 
3/15/2010-11/1/2059
 
$
188,123

 
$
94,392

  Original loan balance $150,000 - $299,999
 
2,170

 
1.92% - 11.53%
 
3/10/2013-11/1/2059
 
393,282

 
210,176

  Original loan balance $300,000 - $449,999
 
1,364

 
0.00% - 10.75%
 
5/1/2020-11/1/2059
 
434,319

 
241,382

  Original loan balance greater than $449,999
 
592

 
2.00% - 10.20%
 
7/1/2017-7/1/2059
 
365,859

 
221,371

 
 
6,455

 
 
 
 
 
$
1,381,583

 
$
767,321

 
 
 
 
 
 
 
 
 
 
 
 
 
23,536

 
 
 
 
 
$
7,450,709

(2)
$
967,640


(1)
Carrying value of Non-QM, Rehabilitation and Single-family rental loans excludes an allowance for loan losses of $388,000, $2.3 million and $62,000, respectively, at December 31, 2019.
(2)
The federal income tax basis is approximately $7.3 billion.

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, 2019:

 
 
For the Year Ended December 31, 2019
(In Thousands)
 
Residential Whole Loans, at Carrying Value
 
Residential Whole Loans, at Fair Value
Beginning Balance
 
$
3,016,715

 
$
1,665,978

Additions during period:
 
 
 
 
Purchases and capitalized advances
 
4,208,603

 
40,264

Premium amortization/discount accretion, net
 
29,204

 
N/A

Deductions during period:
 
 
 
 
Cash collections for principal and liquidations
 
(1,161,375
)
 
(152,012
)
Changes in fair value recorded in Net gain on residential whole loans measured at fair value through earnings
 
N/A

 
47,849

Provision for loan loss
 
(2,057
)
 
N/A

Repurchases
 
(5,447
)
 
(1,337
)
Transfer to REO
 
(19,298
)
 
(219,159
)
Ending Balance
 
$
6,066,345

 
$
1,381,583