FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of estimated fair values of financial instruments not recorded at fair value on consolidated balance sheets

	March 31, 2015				December 31, 2014
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value		Level
	(in thousands)
Assets held for sale:
Loans receivable subject to credit risk	$	142,256	$	149,040	$	147,648	$	154,252		3
SBA 7(a) loans receivable, subject to secured borrowings		41,353		41,635		41,404		41,901		3
Commercial real estate loans		19,639		19,639		—		—		3
Liabilities:
Secured borrowings—government guaranteed loans, included in liabilities associated with assets held for sale		41,635		41,635		41,901		41,901		3
Junior subordinated notes		24,924		24,936		24,906		24,877		3
Mortgages payable		221,894		230,401		223,808		231,806		3
Unsecured credit facilities		395,000		395,000		360,000		360,000		3

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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