Exhibit 21.1

Subsidiaries of the Registrant

Subsidiaries	State of Incorporation
RCC Real Estate, Inc.	Delaware
Resource Real Estate Funding 2007-1 CDO Investor, LLC	Delaware
Resource Real Estate Funding CDO 2007-1 Ltd.	Cayman Island
RREF 2007 REO, LLC	Delaware
415 South Higley Road Arizona, LLC	Delaware
Resource Real Estate Funding CDO 2007-1, LLC	Delaware
Resource Real Estate Funding 2006-1 CDO Investor, LLC	Delaware
Resource Real Estate Funding CDO 2006-1 Ltd.	Cayman Island
RREF 2006 REO, LLC	Delaware
Resource Real Estate Funding CDO 2006-1, LLC	Delaware
RCC Real Estate SPE, LLC	Delaware
RCC Real Estate SPE 2, LLC	Delaware
RCC Real Estate SPE 3, LLC	Delaware
RCC Real Estate SPE 4, LLC	Delaware
RCC Real Estate Acquisition SPE, LLC	Delaware
Ischus II, LLC	Delaware
Lynnfield Member LLC	Delaware
Lynnfield Holdings, LLC	Delaware
860 VDP Preferred SPE, LLC	Delaware
RCC SLH, LLC	Delaware
RCC Whispertree, LLC	Delaware
RRE VIP Borrower, LLC	Delaware
Resource TRS, Inc.	Delaware
Resource TRS, LLC	Delaware
Resource TRS II, Inc.	Delaware
Resource TRS III, Inc.	Delaware
Apidos CLO VIII	Cayman Islands
Resource Capital Asset Management, LLC	Delaware
Resource TRS IV, Inc.	Delaware
Resource TRS IV, LLC	Delaware
RCC Commercial, Inc.	Delaware
RCC Commercial II, Inc.	Delaware
Apidos CDO I, Ltd. (“TRS”)	Cayman Islands
Apidos CDO III, Ltd., (“TRS”)	Cayman Islands
Apidos Cinco CDO, Ltd (“TRS”)	Cayman Islands
Resource Capital Trust I	Delaware
RCC Trust II	Delaware