XML 15 R36.htm IDEA: XBRL DOCUMENT v3.20.1
Mortgage Loans - Schedule of Loan Portfolio Basis by Asset Type (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Mortgage Loans on Real Estate    
Mortgage loans, net [1],[2] $ 1,098,629 $ 1,151,469
SBC loan pools    
Mortgage Loans on Real Estate    
Mortgage loans, net 5 11,652
SBC loans non-pooled    
Mortgage Loans on Real Estate    
Mortgage loans, net 4,212 23,434
Residential RPL loan pools    
Mortgage Loans on Real Estate    
Mortgage loans, net 1,066,555 1,085,514
Nonperforming loan pools    
Mortgage Loans on Real Estate    
Mortgage loans, net $ 27,857 $ 30,869
[1] As of March 31, 2020, balances for Mortgage loans, net includes $316.5 million and Secured borrowings, net of deferred costs includes $271.6 million from the 50% and 63% owned joint ventures, respectively. As of December 31, 2019, balances for Mortgage loans, net include $341.8 million and Secured borrowings, net of deferred costs includes $284.8 million from a 50% and 63% owned joint ventures, all of which the Company consolidates under U.S. Generally Accepted Accounting Principles ("U.S. GAAP").
[2] Mortgage loans net include $888.2 million and $908.6 million of loans at March 31, 2020 and December 31, 2019, respectively, transferred to securitization trusts that are variable interest entities (“VIEs”); these loans can only be used to settle obligations of the VIEs. Secured borrowings consist of notes issued by VIEs that can only be settled with the assets and cash flows of the VIEs. The creditors do not have recourse to the primary beneficiary (Great Ajax Corp.). See Note 9 — Debt. Mortgage loans, net include $16.1 million and $2.0 million of allowance for loan credit losses at March 31, 2020 and December 31, 2019, respectively.