SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents and restricted cash in the consolidated balance sheets to the total amount shown in the consolidated statements of cash flows ($ in thousands):

	As of December 31,
	2021		2020		2019
Cash and cash equivalents	$	50,615	$	74,776	$	5,256
Restricted cash	—		—		379
Total cash, cash equivalents and restricted cash shown in the Company's consolidated statements of cash flows	$	50,615	$	74,776	$	5,635

Schedule of Interest Expense

For the years ended December 31, 2021, 2020 and 2019, interest expense is comprised of the following ($ in thousands):

	For the years ended December 31,
	2021		2020		2019
Secured funding agreements	$	16,403	$	28,003	$	32,859
Notes payable (1)	2,275		1,317		867
Securitization debt	20,104		12,384		19,950
Secured term loan	4,353		7,114		8,907
Secured borrowings	6,145		3,131		—
Other (2)	800		—		—
Interest expense	$	50,080	$	51,949	$	62,583

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(1)    Excludes interest expense on the $28.3 million note payable, which is secured by a hotel property that is recognized as real estate owned in the Company’s consolidated balance sheets (see Note 6 included in these consolidated financial statements for additional information on the note payable). Interest expense on the $28.3 million note payable is included within expenses from real estate owned in the Company’s consolidated statements of operations.

(2)    Represents the net interest expense recognized from the Company’s derivative financial instruments upon periodic settlement.