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Real Estate Owned
 12 Months Ended
Dec. 31, 2019
Real Estate Owned, Disclosure of Detailed Components [Abstract]  
Real Estate Owned Real Estate Owned
As discussed in Note 2, the Company obtains possession of REO as a result of foreclosures on the associated mortgage loans. The following table details activity in the Company's carrying value of REO for the year ended December 31, 2019.
 
 
Year Ended
December 31, 2019
 
 
Number of Properties
 
Carrying Value
 
 
 
 
(In thousands)
Beginning Balance (January 1, 2019)
 
20

 
$
30,778

Transfers from mortgage loans
 
8

 
22,577

Capital expenditures and other adjustments to cost
 
 
 
240

Adjustments to record at the lower of cost or fair value
 
 
 
(1,002
)
Disposals
 
(13
)
 
(22,009
)
Ending Balance (December 31, 2019)
 
15

 
$
30,584


During the year ended December 31, 2019, the Company sold 13 REO properties, realizing a net gain (loss) of approximately $2.3 million. Such realized gains (losses) are included in Realized gains (losses) on real estate owned, net, on the Company's Consolidated Statement of Operations. As of December 31, 2019 all of the Company's REO had been obtained as a result of obtaining physical possession through foreclosure. As of December 31, 2019, the Company had REO measured at fair value on a non-recurring basis of $19.4 million.