Consolidated VIEs (Tables)

9 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The following table summarizes the assets and liabilities of the Company's consolidated VIEs that are included on the Company's Condensed Consolidated Balance Sheet as of September 30, 2020 and December 31, 2019.


(In thousands)	September 30, 2020 (1)		December 31, 2019 (1)
Assets
Cash and cash equivalents	$	1,152	$	6,016
Restricted cash	175		175
Securities, at fair value	46,857		47,923
Loans, at fair value	1,423,035		1,393,916
Investments in unconsolidated entities, at fair value	6,289		5,641
Real estate owned	24,794		30,584
Investment related receivables	43,542		28,668
Other assets	2,250		6,191
Total Assets	$	1,548,094	$	1,519,114
Liabilities
Repurchase agreements	$	260,310	$	302,791
Investment related payables	—		3,275
Other secured borrowings	142,674		150,334
Other secured borrowings, at fair value	695,516		594,396
Interest payable	402		1,247
Accrued expenses and other liabilities	1,301		2,279
Total Liabilities	1,100,203		1,054,322
Total Stockholders' Equity	422,217		440,394
Non-controlling interests	25,674		24,400
Total Equity	447,891		464,794
Total Liabilities and Equity	$	1,548,094	$	1,519,116

(1)See Note 10 and Note 13 for additional information on the Company's consolidated VIEs.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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