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Related party Transactions - Narrative (Details)
$ in Thousands
3 Months Ended
Jul. 08, 2014
Mar. 31, 2020
USD ($)
calender
loan
Dec. 31, 2019
USD ($)
Mar. 31, 2019
USD ($)
loan
Related Party Transaction [Line Items]        
Management fee payable   $ 1,795 $ 1,634  
Period of termination of license agreement   30 days    
Investment In Securities   $ 61,300 187,800  
Number of sold loans | loan   26   0
Carrying value of mortgages [1],[2]   $ 1,098,629 1,151,469  
Loss on sale of mortgage loans   (705)   $ 0
Mortgage Loans On Real Estate Commitments To Purchase Or Sell Unpaid Principal Balance   26,200 176,900  
Investment in debt securities [3]   $ 247,372 231,685  
Percentage of ownership interests in joint venture   34.00%    
Investments in beneficial interests [4]   $ 64,703 57,954  
Prepaid expenses and ather assets        
Related Party Transaction [Line Items]        
Amount of transaction   377 241  
Residential RPL loan pools        
Related Party Transaction [Line Items]        
Carrying value of mortgages   1,066,555 1,085,514  
Mortgage Loans On Real Estate Commitments To Purchase Or Sell Unpaid Principal Balance   2,000   8,500
Nonperforming loan pools        
Related Party Transaction [Line Items]        
Carrying value of mortgages   27,857 30,869  
Mortgage Loans On Real Estate Commitments To Purchase Or Sell Unpaid Principal Balance   $ 200    
Thetis | Management Agreement        
Related Party Transaction [Line Items]        
Base management fee percentage   1.50%    
Thetis | Amended And Restated Management Agreement        
Related Party Transaction [Line Items]        
Percentage of Independent Directors   66.67%    
Management fee payable   $ 1,000    
Percentage of base management fees payable in cash   75.00%    
Percentage of base management fee payable in shares of common stock   25.00%    
Percentage in excess of base management fees payable in cash   50.00%    
Percentage in excess of base management fees payable in shares   50.00%    
Period of common shares held as base management fee (at least)   3 years    
Percentage of remaining incentive fee payable in common stock   20.00%    
Percentage of remaining incentive fee in excess of book value   8.00%    
Number of calender quarters | calender   8    
Incentive Fee Expense   $ 0   200
Thetis | Prepaid expenses and ather assets        
Related Party Transaction [Line Items]        
Amount of transaction   87 87  
Gregory        
Related Party Transaction [Line Items]        
Line of Credit Facility, Maximum Borrowing Capacity   $ 12,000    
Fixed interest rate   7.20%    
Gregory | Servicing Agreement        
Related Party Transaction [Line Items]        
Servicing fees percentage   0.42%    
Percentage of Purchase Price of REO 1.00%      
Gregory | Servicing Agreement | Minimum [Member]        
Related Party Transaction [Line Items]        
Servicing fees percentage   0.65%    
Gregory | Servicing Agreement | Maximum [Member]        
Related Party Transaction [Line Items]        
Servicing fees percentage   1.25%    
Gregory | Prepaid expenses and ather assets        
Related Party Transaction [Line Items]        
Amount of transaction   $ 865 687  
Gregory | Prepaid expenses and ather assets | Receivable from Servicer for REO acquisitions        
Related Party Transaction [Line Items]        
Amount of transaction   757 585  
2019-C        
Related Party Transaction [Line Items]        
Investment In Securities   12,100    
Loss on sale of mortgage loans   7,000    
Beneficial interests        
Related Party Transaction [Line Items]        
Investments in beneficial interests   7,100 $ 9,500  
Beneficial interests | 2019-C        
Related Party Transaction [Line Items]        
Investments in beneficial interests   8,000    
Senior Notes        
Related Party Transaction [Line Items]        
Investment in debt securities   49,600   50,000
Subordinated Debt        
Related Party Transaction [Line Items]        
Investment in debt securities   $ 4,600   $ 4,600
[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.
[3] As of March 31, 2020 and December 31, 2019 Investments at fair value include amortized cost basis of $274.5 million and $230.4 million, respectively, and unrealized losses of $27.2 million and unrealized gains of $1.3 million, respectively.
[4] Investments in beneficial interests includes allowance for credit losses of $7.2 million at March 31, 2020. No allowance for credit losses were recorded as of December 31, 2019.