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Real Estate Owned
 6 Months Ended
Jun. 30, 2022
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 tables detail activity in the Company's carrying value of REO for the three- and six-month periods ended June 30, 2022 and 2021:
Three-Month Period Ended
June 30, 2022June 30, 2021
Number of PropertiesCarrying ValueNumber of PropertiesCarrying Value
(In thousands)(In thousands)
Beginning Balance (March 31, 2022 and 2021, respectively)8 $24,533 15 $35,557 
Transfers from mortgage loans1 70 — — 
Capital expenditures and other adjustments to cost75 1,420 
Adjustments to record at the lower of cost or fair value152 (1,315)
Dispositions(3)(3,964)(1)(367)
Ending Balance (June 30, 2022 and 2021, respectively)6 $20,866 14 $35,295 
Six-Month Period Ended
June 30, 2022June 30, 2021
Number of PropertiesCarrying ValueNumber of PropertiesCarrying Value
(In thousands)(In thousands)
Beginning Balance (December 31, 2021 and 2020, respectively)7 $24,681 13 $23,598 
Transfers from mortgage loans3 1,018 3 12,554 
Capital expenditures and other adjustments to cost75 1,893 
Adjustments to record at the lower of cost or fair value(418)(2,105)
Dispositions(4)(4,490)(2)(645)
Ending Balance (June 30, 2022 and 2021, respectively)6 $20,866 14 $35,295 
During the three-month period ended June 30, 2022, the Company sold three REO properties, realizing a net gain (loss) of approximately $0.5 million. During the three-month period ended June 30, 2021, the Company sold one REO property, realizing a net gain (loss) of approximately $(0.1) million. During the six-month period ended June 30, 2022, the Company sold four REO properties, realizing a net gain (loss) of approximately $0.5 million. During the six-month period ended June 30, 2021, the Company sold two REO properties, realizing a net gain (loss) of approximately $(13) thousand. 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 June 30, 2022 and December 31, 2021 all of the Company's REO had been obtained as a result of obtaining physical possession through foreclosure. Of the Company's total REO holdings, $20.3 million and $23.9 million were measured at fair value on a non-recurring basis as of June 30, 2022 and December 31, 2021, respectively.