Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT IN RESIDENTIAL MORTGAGE LOANS (Tables)

v2.4.0.8
INVESTMENT IN RESIDENTIAL MORTGAGE LOANS (Tables)
6 Months Ended
Jun. 30, 2013
Investment In Residential Mortgage Loans Tables  
Schedule of Residential Mortgage Loans
The following is a summary of residential mortgage loans at June 30, 2013, all of which are classified as held for investment:
 
Loan Type
 
Outstanding Face Amount
   
Carrying Value
   
Loan Count
   
Wtd. Avg. Yield
   
Wtd. Avg. Coupon (A)
   
Wtd. Avg. Life (Years) (B)
   
Floating Rate Loans as a % of Face Amount
   
Delinquent Face Amount
 
Reverse Mortgage Loans
  $ 56,730     $ 33,636       328       10.6 %     5.1 %     4.1       20.7 %     N/A  

(A)
Represents the stated interest rate on the loans.  Accrued interest on reverse mortgage loans is generally added to the principal balance and paid when the loan is resolved.
   
(B)
The weighted average life is based on the expected timing of the receipt of cash flows.
Schedule of Activity in Carrying Value of Residential Mortgage Loans
Activities related to the carrying value of residential mortgage loans are as follows:
 
   
For the six months ended June 30, 2013
 
Balance at December 31, 2012
  $  
Purchases/additional fundings
    35,138  
Proceeds from repayments
    (2,686 )
Accretion of loan discount and other amortization
    1,184  
Balance at June 30, 2013
  $ 33,636