ACRES Commercial Realty (ACR) 10-Q 11 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	6-May-15
Document and Entity Information [Abstract]
Entity Registrant Name	RESOURCE CAPITAL CORP.
Entity Central Index Key	1332551
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE
Entity Common Stock, Shares Outstanding		134,169,500

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Thousands, unless otherwise specified
ASSETS
Cash and cash equivalents	$217,361	[1]	$79,905	[1]
Restricted cash	26,768	[1]	122,138	[1]
Investment securities, trading	29,770	[1]	20,786	[1]
Investment securities available-for-sale, pledged as collateral, at fair value	161,971	[1]	197,800	[1]
Investment securities available-for-sale, at fair value	122,099	[1]	77,920	[1]
Linked transactions, net at fair value	0	[1]	15,367	[1]
Loans held for sale	248,254	[1]	111,736	[1]
Property held for sale	180	[1]	180	[1]
Loans, pledged as collateral and net of allowances of $7.4 million and $4.6 million	1,960,250	[1]	1,925,980	[1]
Loans receivable–related party	1,229	[1]	1,277	[1]
Investments in unconsolidated entities	55,488	[1]	59,827	[1]
Derivatives, at fair value	14,036	[1]	5,304	[1]
Interest receivable	18,111	[1]	16,260	[1]
Deferred tax asset, net	12,579	[1]	12,634	[1]
Principal paydown receivable	26,906	[1]	40,920	[1]
Direct financing leases	1,951	[1]	2,109	[1]
Intangible assets	9,229	[1]	9,736	[1]
Prepaid expenses	4,263	[1]	4,196	[1]
Other assets	22,761	[1]	24,604	[1]
Total assets	2,933,206	[1]	2,728,679	[1]
LIABILITIES
Borrowings	1,924,598	[2]	1,716,871	[2]
Distribution payable	25,521	[2]	30,592	[2]
Accrued interest expense	5,437	[2]	2,123	[2]
Derivatives, at fair value	8,860	[2]	8,476	[2]
Accrued tax liability	6,982	[2]	9,219	[2]
Accounts payable and other liabilities	13,091	[2]	9,287	[2]
Total liabilities	1,984,489	[2]	1,776,568	[2]
EQUITY
Common stock, par value $0.001: 500,000,000 shares authorized; 134,158,805 and 132,975,177 shares issued and outstanding (including 2,800,324 and 2,023,639 unvested restricted shares)	134		133
Additional paid-in capital	1,253,556		1,245,245
Accumulated other comprehensive income (loss)	5,376		6,043
Distributions in excess of earnings	-327,952		-315,910
Total stockholders’ equity	931,126		935,523
Non-controlling interests	17,591		16,588
Total equity	948,717		952,111
TOTAL LIABILITIES AND EQUITY	2,933,206		2,728,679
Redeemable Preferred Stock Series A [Member]
EQUITY
Preferred stock, par value $0.001	1		1
Redeemable Preferred Stock Series B [Member]
EQUITY
Preferred stock, par value $0.001	6		6
Redeemable Preferred Stock Series C [Member]
EQUITY
Preferred stock, par value $0.001	$5		$5
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811
[2]	March 31, 2015 December 31, 2014Liabilities of consolidated VIEs included in the total liabilities above: Borrowings $1,170,687 $1,046,494 Accrued interest expense1,329 1,000 Derivatives, at fair value7,305 8,439Unsettled loan purchases— (529) Accounts payable and other liabilities56 (386) Total liabilities of consolidated VIEs$1,179,377 $1,055,018

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
ASSETS
Loans receivable, allowance	$7,400,000	$4,600,000
Loans, pledged as collateral, amount at fair value	83,000,000	0
STOCKHOLDERS’ EQUITY
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	134,158,805	132,975,177
Common stock, shares outstanding (in shares)	134,158,805	132,975,177
Common stock, shares issued, non-vested restricted shares (in shares)	2,800,324	2,023,639
Assets of consolidated VIEs included in total assets:
Cash and cash equivalents	133,000	25,000
Restricted cash	25,262,000	121,247,000
Investment securities available-for-sale, pledged as collateral, at fair value	94,658,000	119,203,000
Loans held for sale	73,892,000	282,000
Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million	1,445,136,000	1,261,137,000
Interest receivable	9,895,000	8,941,000
Prepaid expenses	193,000	221,000
Principal paydown receivable	26,700,000	25,767,000
Other assets	-742,000	-12,000
Total assets of consolidated VIEs	1,675,127,000	1,536,811,000
Liabilities of consolidated VIEs included in total liabilities:
Borrowings	1,170,687,000	1,046,494,000
Accrued interest expense	1,329,000	1,000,000
Derivatives, at fair value	7,305,000	8,439,000
Unsettled loan purchases	0	-529,000
Accounts payable and other liabilities	56,000	-386,000
Total liabilities of consolidated VIEs	1,179,377,000	1,055,018,000
Variable interest entity, loans, pledged as collateral, allowance	$4,200,000	$3,300,000
Redeemable Preferred Stock Series A [Member]
STOCKHOLDERS’ EQUITY
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, liquidation preference (in dollars per share)	$25	$25
Preferred stock, coupon authorized (in hundredths)	8.50%
Preferred stock, shares issued (in shares)	1,069,016	1,069,016
Preferred stock, shares outstanding (in shares)	1,069,016	1,069,016
Redeemable Preferred Stock Series B [Member]
STOCKHOLDERS’ EQUITY
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, liquidation preference (in dollars per share)	$25	$25
Preferred stock, coupon authorized (in hundredths)	8.25%
Preferred stock, shares issued (in shares)	5,740,479	5,601,146
Preferred stock, shares outstanding (in shares)	5,740,479	5,601,146
Redeemable Preferred Stock Series C [Member]
STOCKHOLDERS’ EQUITY
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, liquidation preference (in dollars per share)	$25	$25
Preferred stock, coupon authorized (in hundredths)	8.63%
Preferred stock, shares issued (in shares)	4,800,000	4,800,000
Preferred stock, shares outstanding (in shares)	4,800,000	4,800,000

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Interest income:
Loans	$32,663	$20,229
Securities	4,052	4,004
Leases	95	0
Interest income − other	832	2,852
Total interest income	37,642	27,085
Interest expense	14,902	9,628
Net interest income	22,740	17,457
Rental income	0	5,152
Dividend income	16	136
Fee income	1,605	2,500
Total revenues	24,361	25,245
OPERATING EXPENSES
Management fees − related party	3,560	3,080
Equity compensation − related party	995	1,667
Rental operating expense	6	3,396
Lease operating	23	0
General and administrative - Corporate	4,783	2,840
General and administrative - PCM	7,079	3,426
Depreciation and amortization	565	836
Impairment losses	59	0
Provision (recovery) for loan losses	3,990	-3,960
Total operating expenses	21,060	11,285
Net interest and other revenues less operating expenses	3,301	13,960
OTHER INCOME (EXPENSE)
Equity in earnings of unconsolidated subsidiaries	706	2,014
Net realized gain (loss) on sales of investment securities available-for-sale and loans and derivatives	14,423	2,088
Net realized and unrealized gain (loss) on investment securities, trading	2,074	-1,560
Unrealized gain (loss) and net interest income on linked transactions, net	235	2,305
(Loss) on reissuance/gain on extinguishment of debt	-900	-69
(Loss) gain on sale of real estate	-22	0
Other income (expense)	0	-1,262
Total other income (expense)	16,516	3,516
INCOME (LOSS) BEFORE TAXES	19,817	17,476
Income tax (expense) benefit	-1,847	-16
Net income	17,970	17,460
Net (income) loss allocated to preferred shares	-6,091	-2,400
Net (income) loss allocable to non-controlling interest, net of taxes	-2,477	56
NET INCOME (LOSS) ALLOCABLE TO COMMON SHARES	$9,402	$15,116
NET INCOME (LOSS) PER COMMON SHARE – BASIC (in dollars per share)	$0.07	$0.12
NET INCOME (LOSS) PER COMMON SHARE – DILUTED (in dollars per share)	$0.07	$0.12
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - BASIC (in shares)	131,256,909	125,616,537
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - DILUTED (in shares)	132,304,417	126,667,614

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$17,970	$17,460
Other comprehensive income (loss):
Reclassification adjustment for (gains) losses on available-for-sale securities included in net income	-6,258	1,465
Unrealized gains (losses) on available-for-sale securities, net	3,123	-1,754
Reclassification adjustments associated with unrealized gains (losses) from interest rate hedges included in net income	90	70
Unrealized gains on derivatives, net	1,142	387
Foreign currency translation adjustments	429	-196
Total other comprehensive income (loss)	-1,474	-28
Comprehensive income (loss) before allocation to non-controlling interests and preferred shares	16,496	17,432
Unrealized (gains) losses on available-for-sale securities allocable to non-controlling interests	807	0
Net (income) loss allocable to non-controlling interests	-2,477	56
Net (income) loss allocated to preferred shares	-6,091	2,400
Comprehensive income allocable to common shares	$8,735	$19,888

CONSOLIDATED_STATEMENT_OF_CHAN

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (USD $)	Total	Parent [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Retained Earnings [Member]	Distributions in Excess of Earnings [Member]	Non-controlling Interest [Member]	Redeemable Preferred Stock Series A [Member]	Redeemable Preferred Stock Series B [Member]	Redeemable Preferred Stock Series C [Member]	Preferred Stock [Member]	Preferred Stock [Member]	Preferred Stock [Member]
In Thousands, except Share data, unless otherwise specified									Preferred Stock [Member]	Preferred Stock [Member]	Preferred Stock [Member]		Parent [Member]	Additional Paid-In Capital [Member]
Balance at Dec. 31, 2014	$952,111	$952,111	$133	$1,245,245	$6,043	$0	($315,910)	$16,588	$1	$6	$5
Balance (in shares) at Dec. 31, 2014	132,975,177		132,975,177
Stockholders' Equity Attributable to Parent	931,126
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from dividend reinvestment and stock purchase plan (in shares)	22,000		22,085
Proceeds from dividend reinvestment and stock purchase plan	106	106	0	106
Proceeds from issuance of preferred stock									0	0	0	3,113	3,113	3,113
Offering costs	-111	-111		-111
Discount on 8% convertible senior notes	4,213	4,213		4,213
Stock based compensation (in shares)			1,163,817
Stock based compensation	1	1	1	0
Amortization of stock based compensation	995	995		995
Purchase and retirement of shares (in shares)			-1,003
Purchase and retirement of shares	-5	-5	0	-5
Forfeiture of unvested stock			-1,271
Contributions, net of distributions from non-controlling interests	-667							-667
Net income	15,493	17,970				15,493		2,477
Preferred dividends	-6,091	-6,091				-6,091
Securities available-for-sale, fair value adjustment, net	-2,328	-3,135			-2,328			-807
Designated derivatives, fair value adjustment	-1,232	-1,232			-1,232
Foreign currency translation adjustment	429	429			429
Distributions on common stock	-21,444	-21,444				-9,402	-12,042
Balance at Mar. 31, 2015	$948,717	$948,717	$134	$1,253,556	$5,376	$0	($327,952)	$17,591	$1	$6	$5
Balance (in shares) at Mar. 31, 2015	134,158,805		134,158,805

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$17,970		$17,460
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Provision for (recovery of) loan losses	3,990		-3,960
Depreciation	139		392
Amortization of intangible assets	507		444
Amortization of term facilities	115		534
Accretion (amortization) of net discounts (premiums) on loans held for investment	-338		-574
Accretion (amortization) of net discounts (premiums) on securities available-for-sale	837		-769
Amortization (accretion) of discount (premium) on notes of securitization	463		434
Amortization of debt issuance costs on notes of securitizations	1,066		796
Amortization of stock-based compensation	995		1,667
Amortization (accretion) of terminated derivative instruments	67		70
Accretion (amortization) of interest-only available-for-sales securities	873		-137
Deferred income tax (benefit) expense	-48		-89
Purchase of residential mortgage loans held for sale, net	-58,136		-877
Purchase of securities, trading	-16,268		0
Principal payments on securities, trading	0		42
Proceeds from sales of securities, trading	8,095		0
Net realized and unrealized loss (gain) on investment securities, trading	-2,074		1,560
Net realized (gain) loss on sales of investment securities available-for-sale and loans	-14,423		-3,680
Loss (gain) on the reissuance (extinguishment) of debt	900		69
Loss (gain) on sale of real estate	22		0
Settlement of derivative instruments	-82		0
Net impairment losses recognized in earnings	59		0
Unrealized gain (loss) and net interest income on linked transactions, net	-235		-1,763
Equity in net (earnings) losses of unconsolidated subsidiaries	-706		-2,014
Changes in operating assets and liabilities, net of acquisitions	65,786		9,563
Net cash provided by (used in) operating activities	9,738		19,168
CASH FLOWS FROM INVESTING ACTIVITIES:
(Increase) decrease in restricted cash	33,230		-12,849
Acquisition of controlling interest in Moselle CLO S.A.	0		-30,433
Purchase of securities available-for-sale	-4,000		-48,321
Principal payments on securities available-for-sale	37,860		17,325
Proceeds from sale of securities available-for-sale	7,113		12,314
Return of capital from (investment in) unconsolidated entity	4,391		5,650
Purchase of loans	-207,983		-169,380
Principal payments received on loans	91,294		90,948
Proceeds from sale of loans	16,922		15,974
Purchase of furniture and fixtures	0		-38
Acquisition of property and equipment	-171		-269
Investment in loans - related parties	-903		-285
Principal payments received on loans – related parties	0		753
Net cash (used in) provided by investing activities	-22,247		-118,611
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuances of common stock (net of offering costs of $0 and $0)	0		245
Net proceeds from dividend reinvestment and stock purchase plan (net of offering costs of $0 and $0)	106		0
Repurchase of common stock	-5		0
Proceeds from borrowings:
Repurchase agreements, net of repayments	0		75,877
CRE Securitization	282,127		0
Convertible Senior Notes	99,000		0
Senior Secured Revolving Credit Facility, net of repayments	21,500		0
Reissuance of debt	8,100		0
Payments on borrowings:
CRE Securitization	-161,713		-59,668
Repurchase agreements, net of borrowings	-64,812		0
Payment of debt issuance costs	-6,639		-8
Settlement of derivative instruments	3,091		0
Distributions to subordinated note holders	0		-307
Proceeds received from non-controlling interests	1,802		0
Distributions paid to non-controlling interests	-2,987		0
Distributions paid on preferred stock	-6,044		-2,159
Distributions paid on common stock	-26,563		-25,536
Net cash provided by (used in) financing activities	149,965		3,859
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	137,456		-95,584
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	79,905	[1]	262,270
CASH AND CASH EQUIVALENTS AT END OF PERIOD	217,361	[1]	166,686
SUPPLEMENTAL DISCLOSURE:
Interest expense paid in cash	9,378		8,576
Income taxes paid in cash	1,739		1,774
Redeemable Preferred Stock Series A [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of redeemable preferred shares, net of offering costs	0		4,440
Redeemable Preferred Stock Series B [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of redeemable preferred shares, net of offering costs	$3,002		$10,975
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

CONSOLIDATED_STATEMENTS_OF_CAS1

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from dividend reinvestment and stock purchase plan, offering costs	$0	$0
Common Stock [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Offering costs on stock issuance	0	0
Redeemable Preferred Stock Series A [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Offering costs on stock issuance	0	0
Preferred stock, coupon authorized (in hundredths)	8.50%
Redeemable Preferred Stock Series B [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Offering costs on stock issuance	111	565
Preferred stock, coupon authorized (in hundredths)	8.25%
Redeemable Preferred Stock Series C [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Offering costs on stock issuance	$4,005	$0
Preferred stock, coupon authorized (in hundredths)	8.63%

ORGANIZATION_AND_BASIS_OF_PRES

ORGANIZATION AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION
	Resource Capital Corp. and subsidiaries’ (collectively the ‘‘Company’’) principal business activity is to purchase and manage a diversified portfolio of commercial real estate-related assets and commercial finance assets.  The Company’s investment activities are managed by Resource Capital Manager, Inc. (‘‘Manager’’) pursuant to a management agreement (the ‘‘Management Agreement’’).  The Manager is a wholly-owned indirect subsidiary of Resource America, Inc. (“Resource America”) (NASDAQ: REXI).  In September 2013, it was determined that the Company is a variable interest entity ("VIE") and that Resource America is the primary beneficiary of the Company. Therefore, the Company's financial statements are consolidated into Resource America's financial statements. The following subsidiaries are consolidated in the Company’s financial statements:
	•	RCC Real Estate, Inc. (“RCC Real Estate”) holds real estate investments, including commercial real estate loans, commercial real estate-related securities and investments in real estate.  RCC Real Estate owns 100% of the equity of the following VIEs:
	◦	Resource Real Estate Funding CDO 2006-1, Ltd. (“RREF CDO 2006-1”), a Cayman Islands limited liability company and qualified real estate investment trust (“REIT”) subsidiary (“QRS”).  RREF CDO 2006-1 was established to complete a collateralized debt obligation (“CDO”) issuance secured by a portfolio of commercial real estate ("CRE") loans and commercial mortgage-backed securities (“CMBS”).
	◦	Resource Real Estate Funding CDO 2007-1, Ltd. (“RREF CDO 2007-1”), a Cayman Islands limited liability company and QRS.  RREF CDO 2007-1 was established to complete a CDO issuance secured by a portfolio of CRE loans and CMBS.
	◦	Resource Capital Corp. CRE Notes 2013, Ltd. (“RCC CRE Notes 2013”), a Cayman Islands limited liability company and QRS.  RCC CRE Notes 2013 was established to complete a CRE securitization issuance secured by a portfolio of CRE loans.
	◦	Resource Capital Corp. 2014-CRE2, Ltd. (“RCC 2014-CRE2”), a Cayman Islands limited liability company and QRS. RCC 2014-CRE2 was established to complete a CRE securitization issuance secured by a portfolio of CRE loans.
	◦	Resource Capital Corp. 2015-CRE3, Ltd. (“RCC 2015-CRE3”), a Cayman Islands limited liability company and QRS. RCC 2015-CRE3 was established to complete a CRE securitization issuance secured by a portfolio of CRE loans.
	•	RCC Commercial, Inc. (“RCC Commercial”) holds a 32.8% investment in Northport TRS, LLC (“Northport LLC”) and owns 100% of the equity of the following VIE:
	◦	Apidos CDO III, Ltd. (“Apidos CDO III”), a Cayman Islands limited liability company and taxable REIT subsidiary (“TRS”).  Apidos CDO III was established to complete a CDO issuance secured by a portfolio of bank loans and asset-backed securities (“ABS”). On March 31, 2015, the Company issued a notice of redemption to Apidos CDO III's trustee to call the deal. As a result, all assets of Apidos CDO III have been classified as held for sale as of March 31, 2015.
	•	RCC Commercial II, Inc. (“Commercial II”) holds structured notes, available-for-sale and investments in the subordinated notes of foreign, syndicated bank loan collateralized loan obligation ("CLO") vehicles.  Commercial II owns 100%, 68.3%, and 88.6% respectively, of the equity of the following VIEs:
	◦	Apidos Cinco CDO, Ltd. (“Apidos Cinco CDO”), a Cayman Islands limited liability company and TRS.  Apidos Cinco CDO was established to complete a CDO issuance secured by a portfolio of bank loans, ABS and corporate bonds.
	◦	Whitney CLO I, Ltd. ("Whitney CLO I"), a Cayman Islands limited liability company and TRS. In September 2013, the Company liquidated Whitney CLO I and, as a result, all of the assets were sold.
	◦	Moselle CLO S.A. ("Moselle CLO"), incorporated in Luxembourg, is a CLO issuer whose assets consist of European senior secured loans, U.S. senior secured loans, U.S. senior unsecured loans, U.S. second lien loans, European mezzanine loans, and a limited amount of synthetic securities and other eligible debt obligations. In December 2014, the Company liquidated Moselle CLO and, as a result, all of the assets were sold.
	•	RCC Commercial III, Inc. (“Commercial III”) holds bank loan investments.  Commercial III owns 90% of the equity of the following VIE:
	◦	Apidos CDO I, Ltd. (“Apidos CDO I”), a Cayman Islands limited liability company and TRS.  Apidos CDO I was established to complete a CDO issuance secured by a portfolio of bank loans and ABS. In October 2014, the Company liquidated Apidos CLO I, and as a result, all of the assets were sold.
	•	Resource TRS, Inc. (“Resource TRS”), a TRS directly owned by the Company, holds the Company’s equity investment in a leasing company and holds all of its investment securities, trading (through both direct and indirect investments in such securities). Resource TRS also owns equity in the following:
	◦	Resource TRS, LLC, a Delaware limited liability company, which holds an 17.8% investment in Northport LLC.
	◦	Northport LLC, a Delaware limited liability company, which holds bank loan investments and the Company's self-originated middle market loans. Resource TRS owns 49.4% of the equity in Northport LLC as of March 31, 2015. The remaining 32.8% of the equity is owned by RCC Commercial.
	◦	Pelium Capital Partners, L.P., ("Pelium Capital") a Delaware limited partnership, which holds investment securities, trading. Resource TRS owns 71.8% of the equity in Pelium Capital as of March 31, 2015.
	•	Resource TRS II, Inc. (“Resource TRS II”), a TRS directly owned by the Company, holds the Company’s management rights in bank loan CLOs not originated by the Company.  Resource TRS II owns 100% of the equity of the following VIE:
	◦	Resource Capital Asset Management (“RCAM”), a domestic limited liability company, which is entitled to collect senior, subordinated, and incentive fees related to three CLO issuers to which it provides management services through CVC Credit Partners, LLC, formerly Apidos Capital Management ("ACM"), a subsidiary of CVC Capital Partners SICAV-FIS, S.A., a private equity firm (“CVC”).  Resource America, Inc. owns a 33% interest in CVC Credit Partners, LLC, ("CVC Credit Partners").
	•	Resource TRS III, Inc. (“Resource TRS III”), a TRS directly owned by the Company, held the Company’s interests in a bank loan CDO originated by the Company.  Resource TRS III owned 33% of the equity of the following VIE:
	◦	Apidos CLO VIII, Ltd (“Apidos CLO VIII”), a Cayman Islands limited liability company and TRS.  In October 2013, the Company substantially liquidated Apidos CLO VIII, and as a result, all of the assets were sold.
	•	Resource TRS IV, Inc. (“Resource TRS IV”), a TRS directly owned by the Company, held the Company's equity investment in hotel condominium units acquired in conjunction with a loan foreclosure. The hotel condominium units were sold in April 2014.
	•	Resource TRS V, Inc. (“Resource TRS V”), a TRS directly owned by the Company, held the Company's equity investment in a held for sale condominium complex. All of the condominiums were sold as of December 31, 2013.
	•	RSO EquityCo, LLC owns 10% of the equity of Apidos CDO I and 10% of the equity of Apidos CLO VIII.
	•	Long Term Care Conversion, Inc. ("LTCC"), a TRS directly owned by the Company, is a Delaware corporation that owns 100% of the following entities:
	◦	Long Term Care Conversion Funding ("LTCC Funding"), a New York limited liability company, which owns a 50.2% equity interest in Life Care Funding, LLC ("LCF") and provides funding through a financing facility to fund the acquisition of life settlement contracts. LCF, a New York limited liability company, is a joint venture between LTCC and Life Care Funding Group Partners and was established for the purpose of originating and acquiring life settlement contracts.
	◦	ZWH4, LLC ("ZAIS"), a Delaware limited liability company, owns an equity investment in the warehouse of ZAIS CLO 4, Limited, a Cayman Islands exempted limited liability company, that will be used to finance the purchase of syndicated bank loans.
	•	RCC Residential, Inc. ("RCC Residential"), a TRS directly owned by the Company, is a Delaware corporation which owns 100% of the following entities:
	◦	Primary Capital Mortgage, LLC ("PCM"), (formerly known as Primary Capital Advisors, LLC), a limited liability company that originates and services residential mortgage loans.
	◦	RCM Global Manager, LLC ("RCM Global Manager"), a Delaware limited liability company, owns 53.2% of the following entity:
	▪	RCM Global, LLC ("RCM Global"), a Delaware limited liability company, holds a portfolio of investment securities, available-for-sale.
	▪	RCC Residential Portfolio, Inc. ("RCC Resi Portfolio"), a Delaware corporation directly owned by the Company, invests in residential mortgage-backed securities (“RMBS”).
	▪	RCC Residential Portfolio TRS, Inc. ("RCC Resi TRS"), a TRS directly owned by the Company, is a Delaware corporation which intends to hold strategic residential positions which cannot be held by RCC Resi Portfolio.
	◦	RCC Residential Depositor, LLC ("RCC Resi Depositor"), a Delaware limited liability company, owns 100% of the following entity:
	▪	RCC Opportunities Trust ("RCC Opp Trust"), a Delaware Statutory Trust, holds a portfolio of residential mortgage loans, available-for-sale.
	◦	RCC Residential Acquisition, LLC ("RCC Resi Acquisition"), a Delaware limited liability company, purchases residential mortgage loans from PCM and transfers the assets to RCC Opp Trust.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Principles of Consolidation
	The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The consolidated financial statements include the accounts of the Company.
	All inter-company transactions and balances have been eliminated.
	Recent Accounting Standards
	In April 2015, the Financial Accounting Standards Board ("FASB") issued guidance that simplifies the presentation of debt issuance costs by requiring that debt issuance costs be presented in the balance sheet as a deduction from the carrying amount of the related debt liability, consistent with debt discounts or premiums. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. It is effective for annual reporting periods beginning after December 15, 2015, but early adoption is permitted. The Company has early adopted the provisions of this guidance. Note 12, Borrowings, reflects the presentation of debt issuance costs as prescribed by this accounting standards update. Adoption did not have a material impact on the Company's consolidated financial statements.
	In February 2015, the FASB issued guidance that requires an entity to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments: (1) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities; (2) eliminate the presumption that a general partner should consolidate a limited partnership; (3) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related-party relationships; and (4) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. This guidance is effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early application is permitted. The Company is currently evaluating the effect of adoption.
	In November 2014, the FASB issued guidance to eliminate the use of different methods in practice and thereby reduce existing diversity under GAAP in the accounting for hybrid financial instruments issued in the form of a share. An entity that issues or invests in a hybrid financial instrument is required to separate an embedded derivative feature from the host contract (for example, an underlying share) and account for the feature as a derivative according to ASC Subtopic 815-10 on derivatives and hedging if certain criteria are met. This guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. The Company is currently evaluating the effect of adoption.
	In August 2014, the FASB issued guidance that clarifies the disclosures management must make in its interim and annual financial statement footnotes when management has determined that conditions exist that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued (or within one year after the date the financial statements are available to be issued when applicable). In accordance with this guidance, management’s assessment is required to be made each reporting period and should be based on relevant conditions and events that are known and reasonably knowable at the date the financial statements are issued. In all cases, to the extent that substantial doubt about the entity’s ability to continue as a going concern is determined to be probable, management must disclose the principal conditions or events that gave rise to the substantial doubt about the entity’s ability to continue as a going concern, management’s evaluation of the significance of those conditions or events in relation to the entity’s ability to meet its obligations, and management’s plans that either alleviated or are intended to mitigate the conditions or events that gave rise to the substantial doubt about the entity’s ability to continue as a going concern. Additionally, to the extent substantial doubt about the entity’s ability to continue as a going concern is not alleviated by management’s plans, management must indicate in the footnotes that there is substantial doubt about the entity’s ability to continue as a going concern. This guidance is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early adoption is permitted. The Company does not expect adoption will have a material impact on its consolidated financial statements.
	In August 2014, the FASB issued guidance that provides for the election of a measurement alternative when a reporting entity determines that it is the primary beneficiary of a collateralized financing entity and, hence, is required to consolidate that collateralized financing entity. The measurement alternative allows a qualifying, consolidated collateralized financing entity to use the more observable of the fair value of the financial assets or the fair value of the financial liabilities adjusted by the carrying amount of non-financial assets, the fair value of any beneficial interests retained by the reporting entity (including those beneficial interest that represent compensation for services). Alternatively, if the measurement alternative is not elected for a qualifying, consolidated collateralized financing entity, this guidance requires that the financial assets and financial liabilities be measured in accordance with ASC Topic 820, and any difference in the fair value of the financial assets and the fair value of the financial liabilities would be reflected in earnings and attributed to the reporting entity in the consolidated statement of income (loss). This guidance is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted as of the beginning of an annual period. The Company is currently evaluating the effect of adoption.
	In June 2014, the FASB issued guidance that changes the accounting for repurchase-to-maturity transactions to secured borrowing accounting and requires separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement for repurchase arrangements. This amendment also requires additional disclosure for certain transactions comprising a transfer of a financial asset accounted for as a sale and an agreement with the same transferee entered into in contemplation of the initial transfer that results in the transferor retaining substantially all of the exposure to the economic return on the transferred financial asset throughout the term of the transaction. The Company adopted this accounting standards update on January 1, 2015. Upon adoption, the Company unlinked its previously linked transactions and disclosed affected asset, liability, income and expense balances at their gross values in its consolidated financial statements.
	In April 2014, the FASB issued guidance that changes the requirements for reporting discontinued operations. The amendments in this update require an entity to present, for each comparative period, the assets and liabilities of a disposal group that includes a discontinued operation separately in the asset and liability sections of the statement of financial position. The amendments in this update also require additional disclosures about discontinued operations and new disclosures for disposal transactions of individually significant components of an entity that do not meet the definition of a discontinued operation. Additionally, this guidance both permits and expands the disclosures about an entity’s significant continuing involvement with a discontinued operation. This guidance is effective for all disposals or classifications as held for sale of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted for disposals that have not been reported in financial statements previously issued or available for issuance. The Company early adopted the provisions of this guidance. Adoption did not have a material impact on the Company's consolidated financial statements.
	In January 2014, the FASB issued guidance that clarifies when a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan. Furthermore, the guidance requires interim and annual disclosure of the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. This guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Adoption did not have a material impact on the Company's consolidated financial statements.
	Reclassifications
	Certain reclassifications have been made to the 2014 consolidated financial statements to conform to the 2015 presentation.

VARIABLE_INTEREST_ENTITIES

VARIABLE INTEREST ENTITIES	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	NOTE 3 - VARIABLE INTEREST ENTITIES
	The Company has evaluated its securities, loans, investments in unconsolidated entities, liabilities to subsidiary trusts issuing preferred securities (consisting of unsecured junior subordinated notes) and its securitizations in order to determine if they are variable interests in VIEs. The Company monitors these legal interests and, to the extent it has determined that it has a variable interest, analyzes the entity for potential consolidation. A VIE is required to be consolidated by its primary beneficiary. The Company will continually analyze entities in which it holds variable interests, including when there is a reconsideration event, to determine whether such entities are VIEs and whether such potential VIEs should be consolidated or deconsolidated. This analysis requires considerable judgment in determining the primary beneficiary of a VIE and could result in the consolidation of an entity that would otherwise not have been consolidated or the non-consolidation of an entity that otherwise would have been consolidated.
	Consolidated VIEs (the Company is the primary beneficiary)
	Based on management’s analysis, the Company is the primary beneficiary of twelve VIEs at March 31, 2015: Apidos CDO I, Apidos CDO III, Apidos Cinco CDO, Apidos CLO VIII, RREF CDO 2006-1, RREF CDO 2007-1, Whitney CLO I, RCC CRE Notes 2013, RCC 2014-CRE2, RCC 2015-CRE3, Moselle CLO and RCM Global, LLC. In performing the primary beneficiary analysis for Apidos CDO I, Apidos CDO III, Apidos Cinco CDO, Apidos CLO VIII, RREF CDO 2006-1, RREF CDO 2007-1, RCC CRE Notes 2013, RCC 2014-CRE2, RCC 2015-CRE3 and RCM Global, LLC, it was determined that the parties that have the power to direct the activities that are most significant to each of these VIEs and who have the right to receive benefits and the obligation to absorb losses that could potentially be significant to these VIEs, are a related-party group. It was then determined that the Company was the party within that group that is more closely associated with each such VIE considering the design of the VIE, the principal-agency relationship between the Company and other members of the related-party group, and the relationship and significance of the activities of the VIE to the Company compared to the other members of the related-party group.
	Apidos CDO I, Apidos CDO III, Apidos Cinco CDO, Apidos CLO VIII, RREF CDO 2006-1, RREF CDO 2007-1, RCC CRE Notes 2013, RCC 2014-CRE2 and RCC 2015-CRE3 were formed on behalf of the Company to invest in real estate-related securities, CMBS, property available-for-sale, bank loans, corporate bonds and asset-backed securities and were financed by the issuance of debt securities. The Manager and CVC Credit Partners manage these entities on behalf of the Company. By financing these assets with long-term borrowings through the issuance of bonds, the Company seeks to generate attractive risk-adjusted equity returns and to match the term of its assets and liabilities. The primary beneficiary determination for each of these VIEs was made at each VIE’s inception and is continually assessed.
	Moselle CLO was a European securitization in which the Company purchased a $30.4 million interest in the form of subordinate notes representing 100% of the Class 1 Subordinated Notes and 67.9% of the Class 2 subordinated Notes in February 2014. The CLO was managed by an independent third-party, and such collateral management activities were determined to be the activities that most significantly impacted the economic performance of the CLO. Though neither the Company nor one of its related parties managed the CLO, due to certain unilateral kick-out rights within the collateral management agreement it was determined that the Company had the power to direct the activities that most significantly impacted the economic performance of Moselle CLO. Having both the power to direct the activities that most significantly impact Moselle CLO and a financial interest that was expected to absorb both positive and negative variability in the CLO that could potentially be significant, the Company was determined to be the primary beneficiary of Moselle CLO and, therefore, consolidated the CLO. During the fourth quarter of 2014, the CLO began the liquidation process and all assets were sold as of March 31, 2015.
	Whitney CLO I was a securitization in which the Company acquired rights to manage the collateral assets held by the entity in February 2011. For a discussion on the primary beneficiary analysis for Whitney, see “— Unconsolidated VIEs – Resource Capital Asset Management,” below.
	On July 9, 2014, RCC Residential, together with Resource America and certain Resource America employees, acquired through RCM Global a portfolio of securities from JP Morgan for $23.5 million.  The portfolio is managed by Resource America. RCC Residential contributed $15.0 million for a 63.8% membership interest. Each of the members of RCM Global will be allocated the revenue/expenses of RCM Global in accordance with its or his membership interest. RCM Global was determined to be a VIE based on the equity holders' inability to direct the activities that are most significant to the entity. The Company was determined to be the primary beneficiary of RCM Global and, therefore, consolidated the entity. The Company's ownership interest was 53.2% as of March 31, 2015.
	In September 2014, the Company contributed $17.5 million of capital to Pelium Capital for an 80.4% interest. Pelium Capital is a specialized credit opportunity fund managed by Resource America. The Company will receive 10% of the carried interest in the partnership for the first five years, which can increase to 20% if the Company's capital contributions aggregate $40.0 million. Pelium Capital was determined not to be a VIE as there was sufficient equity at risk, the Company does not have disproportionate voting rights and Pelium Capital's partners have all of the following characteristics (1) the power to direct the activities (2) the obligation to absorb losses and (3) the right to receive residual returns. However, Pelium Capital was consolidated as a result of the Company's majority ownership and the Company's unilateral kick-out rights. The non-controlling interest in Pelium Capital is owned by Resource America and outside investors. In February 2015, the Company made an additional capital contribution of $2.5 million. The Company's ownership interest in Pelium decreased to 71.8% as of March 31, 2015 as a result of additional outside investors investing in the fund.
	For a discussion of the Company’s securitizations, see Note 1, and for a discussion of the debt issued through the securitizations, see Note 12.
	For consolidated CLOs in which the Company does not own 100% of the subordinated notes, the Company imputes an interest rate using expected cash flows over the life of the CLO and records the third party's share of the cash flows as interest expense on the consolidated statements of income.
	The Company has exposure to losses on its securitizations to the extent of its subordinated debt and preferred equity interests in them. The Company is entitled to receive payments of principal and interest on the debt securities it holds and, to the extent revenues exceed debt service requirements and other expenses of the securitizations, distributions with respect to its preferred equity interests. As a result of consolidation, debt and equity interests the Company holds in these securitizations have been eliminated, and the Company’s consolidated balance sheets reflects both the assets held and debt issued by the securitizations to third parties and any accrued expense to third parties. The Company's operating results and cash flows include the gross amounts related to the securitizations' assets and liabilities as opposed to the Company's net economic interests in the securitizations. Assets and liabilities related to the securitizations are disclosed, in the aggregate, on the Company's consolidated balance sheets.
	The creditors of the Company’s twelve consolidated VIEs have no recourse to the general credit of the Company. However, in its capacity as manager, the Company has voluntarily supported two credits in one of its commercial real estate CDOs as the credits went through a restructuring in order to maximize future cash flows from the CDO. For the three months ended March 31, 2015 and 2014, the Company has provided financial support of $0 and $539,000, respectively. The Company has provided no other financial support to any other of its VIEs nor does it have any requirement to do so, although it may choose to do so in the future to maximize future cash flows on such investments by the Company. There are no explicit arrangements that obligate the Company to provide financial support to any of its consolidated VIEs.
	The following table shows the classification and carrying value of assets and liabilities of the Company's consolidated VIEs as of March 31, 2015 (in thousands):
		Apidos I		Apidos			Apidos		Whitney CLO I			RREF		RREF		RCC CRE Notes 2013		RCC 2014-CRE2		RCC 2015-CRE3		Moselle		RCM Global, LLC			Total
				III			Cinco					2006-1		2007-1
	ASSETS
	Cash and cash equivalents	$	—	$	—		$	—	$	—		$	—	$	—	$	—	$	—	$	—	$	—	$	133		$	133
	Restricted cash (1)	76		4,519			17,227		116			18		250		2,514		—		5		537		$	—		25,262
	Investment securities available-for-sale, pledged as collateral, at fair value	—		2,856			10,891		—			5,777		57,930		—		—		—		—		17,204			94,658
	Loans, pledged as collateral	153		(79		)	223,524		—			125,373		199,987		204,181		350,362		341,635		—		—			1,445,136
	Loans held for sale	—		71,611			2,281		—			—		—		—		—		—		—		—			73,892
	Interest receivable	—		433			744		—			2,485		2,081		1,081		1,377		1,285		—		409			9,895
	Prepaid assets	—		15			40		—			47		48		43		—		—		—		—			193
	Principal paydown receivable	—		—			—		—			—		5,775		20,925		—		—		—		—			26,700
	Other Assets	—		—			—		—			—		—		—		9		—		—		(751		)	(742		)
	Total assets (2)	$	229	$	79,355		$	254,707	$	116		$	133,700	$	266,071	$	228,744	$	351,748	$	342,925	$	537	$	16,995		$	1,675,127
	LIABILITIES
	Borrowings	$	—	$	67,028		$	229,644	$	—		$	52,958	$	131,717	$	179,547	$	231,662	$	278,011	$	120	$	—		$	1,170,687
	Accrued interest expense	—		45			234		—			42		148		289		195		376		—		—			1,329
	Derivatives, at fair value	—		—			—		—			608		6,697		—		—		—		—		—			7,305
	Unsettled loan purchases	—		—			—		—			—		—		—		—		—		—		—			—
	Accounts payable and other liabilities	—		33			13		—			4		1		—		—		3		—		2			56
	Total liabilities	$	—	$	67,106		$	229,891	$	—		$	53,612	$	138,563	$	179,836	$	231,857	$	278,390	$	120	$	2		$	1,179,377
	(1)    Includes $2.8 million available for reinvestment in certain of the securitizations.
	(2)    Assets of each of the consolidated VIEs may only be used to settle the obligations of each respective VIE.
	(3)    In October 2013, the Company liquidated Apidos CLO VIII and all of the assets were sold. However, the Company still owns its share of beneficial interests that caused it to consolidate it.
	Unconsolidated VIEs (the Company is not the primary beneficiary, but has a variable interest)
	Based on management’s analysis, the Company is not the primary beneficiary of the VIEs discussed below since it does not have both (i) the power to direct the activities that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb the losses of the VIE or the right to receive the benefits from the VIE, which could be significant to the VIE. Accordingly, the following VIEs are not consolidated in the Company’s financial statements as of March 31, 2015. The Company’s maximum exposure to risk for each of these unconsolidated VIEs is set forth in the “Maximum Exposure to Loss” column in the table below.
	LEAF Commercial Capital, Inc.
	On November 16, 2011, the Company together with LEAF Financial, Inc. ("LEAF Financial"), a subsidiary of Resource America, and LEAF Commercial Capital, Inc. (“LCC”), another subsidiary of Resource America, entered into a stock purchase agreement and related agreements (collectively the “SPA”) with Eos Partners, L.P., a private investment firm, and its affiliates (“Eos”). In exchange for its prior interests in its lease related investments, the Company received 31,341 shares of Series A Preferred Stock (the "Series A Preferred Stock"), 4,872 shares of newly issued 8% Series B Redeemable Preferred Stock (the "Series B Preferred Stock") and 2,364 shares of newly issued Series D Redeemable Preferred Stock (the "Series D Preferred Stock"), collectively representing, on a fully-diluted basis assuming conversion, a 26.7% interest in LCC. At the time of investment, the Company’s investment in LCC was valued at $36.3 million based on a third-party valuation at that time.  During 2013, the Company entered into a third stock purchase agreement with LCC to purchase 3,682 shares of newly issued Series A-1 Preferred Stock (the "Series A-1 Preferred Stock") for $3.7 million and 4,445 shares of newly issued Series E Preferred Stock (the "Series E Preferred Stock") for $4.4 million. The Series E Preferred Stock has priority over all other classes of preferred stock. The Company's fully-diluted interest in LCC assuming conversion was 28.4% at March 31, 2015. The Company’s investment in LCC was recorded at $39.5 million and $39.4 million as of March 31, 2015 and December 31, 2014, respectively. The Company determined that it is not the primary beneficiary of LCC because it does not participate in any management or portfolio decisions, holds only two of six board positions, and only controls 28.4% of the voting rights in the entity. Furthermore, Eos holds consent rights with respect to significant LCC actions, including incurrence of indebtedness, consummation of a sale of the entity, liquidation or initiating a public offering.
	Unsecured Junior Subordinated Debentures
	The Company has a 100% interest in the common shares of Resource Capital Trust I (“RCT I”) and RCC Trust II (“RCT II”), valued at $1.5 million in the aggregate (or 3% of each trust). RCT I and RCT II were formed for the purposes of providing debt financing to the Company, as described below. The Company completed a qualitative analysis to determine whether or not it is the primary beneficiary of each of the trusts and determined that it was not the primary beneficiary of either trust because it does not have the power to direct the activities most significant to the trusts, which include the collection of principal and interest and protection of collateral through servicing rights. Accordingly, neither trust is consolidated into the Company’s consolidated financial statements.
	The Company records its investments in RCT I and RCT II’s common shares as investments in unconsolidated trusts using the cost method and records dividend income when declared by RCT I and RCT II. The trusts each hold subordinated debentures for which the Company is the obligor in the amount of $25.8 million for RCT I and $25.8 million for RCT II. The debentures were funded by the issuance of trust preferred securities of RCT I and RCT II. The Company will continuously reassess whether it should be deemed to be the primary beneficiary of the trusts.
	Resource Capital Asset Management CLOs
	In February 2011, the Company purchased a company that managed bank loan assets through five CLOs. As a result, the Company became entitled to collect senior, subordinated and incentive management fees from these CLOs. The purchase price of $22.5 million resulted in an intangible asset that was allocated to each of the five CLOs and is amortized over the expected life of each CLO. The unamortized balance of the intangible asset was $9.0 million and $9.4 million at March 31, 2015 and December 31, 2014, respectively. The Company recognized fee income of $965,000 and $1.7 million for the three months ended March 31, 2015 and 2014, respectively. With respect to four of these CLOs, the Company determined that it does not hold a controlling financial interest and, therefore, is not the primary beneficiary. One of the CLOs was liquidated in February 2013. With respect to the fifth CLO, Whitney CLO I, in October 2012, the Company purchased 66.6% of its preferred equity, which resulted in consolidation. Based upon that purchase, the Company determined that it had an obligation to absorb losses and/or the right to receive benefits that could potentially be significant to Whitney CLO I and that a related party had the power to direct the activities that are most significant to the VIE. As a result, together with the related party, the Company had both the power to direct and the right to receive benefits and the obligation to absorb losses. It was then determined that, between the Company and the related party, the Company was the party within that group that was more closely associated with Whitney CLO I because of its preferred equity interest in Whitney CLO I. The Company, therefore, consolidated Whitney CLO I. In May 2013, the Company purchased additional equity in this CLO which increased its equity ownership to 68.3% of the outstanding preferred equity of Whitney CLO I. In September 2013, the Company liquidated Whitney CLO I, and, as a result, all of the assets were sold.
	The following table shows the classification, carrying value and maximum exposure to loss with respect to the Company’s unconsolidated VIEs as of March 31, 2015 (in thousands):
		Unconsolidated Variable Interest Entities
		LCC		Unsecured			Resource		Total			Maximum
				Junior			Capital Asset					Exposure
				Subordinated			Management					to Loss
				Debentures			CDOs
	Investment in unconsolidated entities	$	39,469	$	1,548		$	—	$	41,017		$	41,017
	Intangible assets	—		—			8,990		8,990			$	8,990
	Total assets	39,469		1,548			8,990		50,007
	Borrowings	—		51,256			—		51,256			N/A
	Total liabilities	—		51,256			—		51,256			N/A
	Net asset (liability)	$	39,469	$	(49,708	)	$	8,990	$	(1,249	)	N/A
	As of March 31, 2015, there were no explicit arrangements or implicit variable interests that could require the Company to provide financial support to any of its unconsolidated VIEs.

SUPPLEMENTAL_CASH_FLOW_INFORMA

SUPPLEMENTAL CASH FLOW INFORMATION	3 Months Ended
	Mar. 31, 2015
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	NOTE 4 - SUPPLEMENTAL CASH FLOW INFORMATION
	Supplemental disclosure of cash flow information is summarized for the periods indicated (in thousands):
		Three Months Ended
		March 31,
		2015		2014
	Non-cash investing activities include the following:
	Conversion of linked transaction assets to CMBS (1)	$	48,605	$	—
	Non-cash financing activities include the following:
	Distributions on common stock declared but not paid	$	21,423	$	25,663
	Distributions on preferred stock declared but not paid	$	6,116	$	2,520
	Issuance of restricted stock	$	1,163	$	640
	Conversion of linked transaction liabilities to repurchase agreement borrowings (1)	$	33,377	$	—
	-1	As a result of an accounting standards update adopted on January 1, 2015 (see Note 2), the Company unlinked its previously linked transactions, resulting in non-cash increases in both its CMBS and related purchase borrowings balances.

INVESTMENT_SECURITIES_TRADING

INVESTMENT SECURITIES TRADING	3 Months Ended
	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES TRADING	NOTE 5 - INVESTMENT SECURITIES, TRADING
	The following table summarizes the Company's structured notes and RMBS that are classified as investment securities, trading and carried at fair value (in thousands). Structured notes are CLO debt securities collateralized by syndicated bank loans, and RMBS is a type of mortgage-backed debt obligation whose cash flows come from residential debt.
		Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
	As of March 31, 2015:
	Structured notes	$	30,308	$	2,063	$	(2,601	)	$	29,770
	RMBS	1,896		—		(1,896		)	—
	Total	$	32,204	$	2,063	$	(4,497	)	$	29,770
	As of December 31, 2014:
	Structured notes	$	22,876	$	1,098	$	(3,188	)	$	20,786
	RMBS	1,896		—		(1,896		)	—
	Total	$	24,772	$	1,098	$	(5,084	)	$	20,786
	The Company sold twelve securities during the three months ended March 31, 2015, for a net realized gain of approximately $432,000. The Company held 45 and 37 investment securities, trading as of March 31, 2015 and December 31, 2014, respectively.

INVESTMENT_SECURITIES_AVAILABL

INVESTMENT SECURITIES AVAILABLE-FOR-SALE	3 Months Ended
	Mar. 31, 2015
Available-for-sale Securities [Abstract]
INVESTMENT SECURITIES AVAILABLE-FOR-SALE	NOTE 6 - INVESTMENT SECURITIES AVAILABLE-FOR-SALE
	The following table summarizes the Company's investment securities, including those pledged as collateral and classified as available-for-sale, which are carried at fair value (in thousands):
		Amortized Cost (1)				Unrealized Gains				Unrealized Losses				Fair Value
	As of March 31, 2015:
	CMBS	$	188,052			$	6,450			$	(734	)		$	193,768
	RMBS	28,964				1,192				—				30,156
	ABS	45,889				12,233				(387		)		57,735
	Corporate bonds	2,417				14				(20		)		2,411
	Total	$	265,322			$	19,889			$	(1,141	)		$	284,070
	As of December 31, 2014:
	CMBS	$	168,669			$	4,938			$	(3,202	)		$	170,405
	RMBS	29,814				937				—				30,751
	ABS	55,617				16,876				(336		)		72,157
	Corporate bonds	2,415				10				(18		)		2,407
	Total	$	256,515			$	22,761			$	(3,556	)		$	275,720
	-1	As of March 31, 2015 and December 31, 2014, $162.0 million and $197.8 million, respectively, of investment securities available-for-sale were pledged as collateral under related financings.
	The following table summarizes the estimated maturities of the Company’s CMBS, RMBS, ABS and corporate bonds according to their estimated weighted average life classifications (in thousands, except percentages):
	Weighted Average Life	Fair Value				Amortized Cost				Weighted Average Coupon
	As of March 31, 2015:
	Less than one year	$	84,119		(1)	$	82,983			4.97%
	Greater than one year and less than five years	125,176				113,882				8.34%
	Greater than five years and less than ten years	16,808				14,358				10.86%
	Greater than ten years	57,967				54,099				6.50%
	Total	$	284,070			$	265,322			7.12%
	As of December 31, 2014:
	Less than one year	$	78,095		(1)	$	79,649			4.13%
	Greater than one year and less than five years	115,302				100,909				4.64%
	Greater than five years and less than ten years	20,177				17,516				16.45%
	Greater than ten years	62,146				58,441				7.86%
	Total	$	275,720			$	256,515			6.08%
	-1	The Company expects that the maturity dates of these CMBS and ABS will either be extended or that they will be paid in full.
	At March 31, 2015, the contractual maturities of the CMBS investment securities available-for-sale range from May 2015 to December 2022.  The contractual maturity date of RMBS investment securities available-for-sale is June 2029. The contractual maturities of the ABS investment securities available-for-sale range from May 2015 to October 2050. The contractual maturities of the corporate bond investment securities available-for-sale range from May 2016 to December 2019.
	The following table shows the fair value, gross unrealized losses and number of securities aggregated by investment category and length of time, that individual investment securities available-for-sale have been in a continuous unrealized loss position during the periods specified (in thousands, except number of securities):
		Less than 12 Months											More than 12 Months							Total
		Fair				Unrealized Losses				Number			Fair			Unrealized Losses			Number	Fair		Unrealized Losses			Number
		Value								of			Value						of	Value					of
										Securities									Securities						Securities
	As of March 31, 2015:
	CMBS	$	25,380			$	(220	)		19			$	16,396		$	(514	)	12	$	41,776	$	(734	)	31
	ABS	197				(1		)		1			1,388			(386		)	9	1,585		(387		)	10
	Corporate bonds	1,447				(20		)		1			—			—			—	1,447		(20		)	1
	Total temporarily	$	27,024			$	(241	)		21			$	17,784		$	(900	)	21	$	44,808	$	(1,141	)	42
	impaired securities
	As of December 31, 2014:
	CMBS	$	35,860			$	(555	)		22			$	25,583		$	(2,647	)	13	$	61,443	$	(3,202	)	35
	ABS	1,000				(278		)		8			958			(58		)	3	1,958		(336		)	11
	Corporate bonds	1,447				(18		)		1			—			—			—	1,447		(18		)	1
	Total temporarily	$	38,307			$	(851	)		31			$	26,541		$	(2,705	)	16	$	64,848	$	(3,556	)	47
	impaired securities
	The unrealized losses in the above table are considered to be temporary impairments due to market factors and are not reflective of credit deterioration.
	During the three months ended March 31, 2015 and 2014, the Company did not recognize any other-than-temporary impairment on its investment securities available-for-sale.
	The following table summarizes the Company's sales of investment securities available-for-sale (in thousands, except number of securities):
		For the Three Months Ended
		Positions Sold		Par Amount Sold				Realized Gain (Loss)
	31-Mar-15
	ABS	4		$	9,411			$	2,669
	31-Mar-14
	CMBS	3		$	12,500			$	(298	)
	The amounts above do not include redemptions. During the three months ended March 31, 2015, the Company did not redeem any corporate bond positions. During the three months ended March 31, 2014, the Company had one corporate bond position redeemed with a total par of $630,000, and recognized a loss of approximately $1,000. In addition, during the three months ended March 31, 2015, the Company redeemed two ABS positions with a total par value of $2.5 million, and recognized a gain of $3.6 million. During the three months ended March 31, 2014, the Company had one ABS position redeemed with a total par of $2.5 million, and recognized a gain of $26,000.

LOANS

LOANS	3 Months Ended
	Mar. 31, 2015
LOANS HELD FOR INVESTMENT [Abstract]
LOANS	NOTE 7 - LOANS
	The following is a summary of the Company’s loans (in thousands):
	Loan Description		Principal				Unamortized (Discount)			Carrying
							Premium, net (1)			Value (2)
	As of March 31, 2015:
	Commercial real estate loans:
	Whole loans		$	1,370,303			$	(7,921	)	$	1,362,382
	B notes		16,070				(39		)	16,031
	Mezzanine loans		67,535				(64		)	67,471
	Total commercial real estate loans		1,453,908				(8,024		)	1,445,884
	Bank loans		225,216				(899		)	224,317
	Middle market loans		295,478				(685		)	294,793
	Residential mortgage loans, held for investment		2,641				—			2,641
	Subtotal loans before allowances		1,977,243				(9,608		)	1,967,635
	Allowance for loan loss		(7,385		)		—			(7,385		)
	Total loans held for investment, net of allowances		1,969,858				(9,608		)	1,960,250
	Bank loans held for sale		73,892				—			73,892
	Residential mortgage loans held for sale, at fair value (3)		174,559				(197		)	174,362
	Total loans held for sale		248,451				(197		)	248,254
	Total loans, net		$	2,218,309			$	(9,805	)	$	2,208,504
	As of December 31, 2014:
	Commercial real estate loans:
	Whole loans		$	1,271,121			$	(7,529	)	$	1,263,592
	B notes		16,120				(48		)	16,072
	Mezzanine loans		67,446				(80		)	67,366
	Total commercial real estate loans		1,354,687				(7,657		)	1,347,030
	Bank loans		332,058				(1,410		)	330,648
	Middle market loans		250,859				(746		)	250,113
	Residential mortgage loans, held for investment		2,802				—			2,802
	Subtotal loans before allowances		1,940,406				(9,813		)	1,930,593
	Allowance for loan loss		(4,613		)		—			(4,613		)
	Total loans held for investment, net of allowances		1,935,793				(9,813		)	1,925,980
	Bank loans held for sale		282				—			282
	Residential mortgage loans held for sale, at fair value (3)		111,454				—			111,454
	Total loans held for sale		111,736				—			111,736
	Total loans, net		$	2,047,529			$	(9,813	)	$	2,037,716
	-1	Amounts include deferred amendment fees of $110,000 and $88,000 and deferred upfront fees of $68,000 and $82,000 being amortized over the life of the bank loans as of March 31, 2015 and December 31, 2014, respectively.  Amounts also include loan origination fees of $8.0 million and $7.6 million as of March 31, 2015 and December 31, 2014, respectively.
	-2	Substantially all loans are pledged as collateral under various borrowings at March 31, 2015 and December 31, 2014, respectively.
	-3	Residential mortgage loans held for sale, at fair value, consisted of $58.3 million and $116.1 million of agency-conforming and jumbo mortgage loans, respectively, as of March 31, 2015. Residential mortgage loans held for sale, at fair value, consisted of $28.9 million and $82.6 million of agency-conforming and jumbo mortgage loans, respectively, as of December 31, 2014. Unamortized discount includes an unrealized mark to market loss of $197,000 as of March 31, 2015.
	The following is a summary of the Company’s commercial real estate loans held for investment (in thousands):
	Description		Quantity		Amortized Cost				Contracted	Maturity Dates(3)
									Interest Rates
	As of March 31, 2015:
	Whole loans, floating rate (1) (4) (5)		74		$	1,362,382			LIBOR plus 1.75% to	May 2015 to
									LIBOR plus 15.00%	Feb-19
	B notes, fixed rate		1		16,031				8.68%	Apr-16
	Mezzanine loans, floating rate		1		12,659				LIBOR plus 15.32%	Apr-16
	Mezzanine loans, fixed rate (6)		3		54,812				0.50% to 18.71%	January 2016 to
										Sep-19
	Total (2)		79		$	1,445,884
	As of December 31, 2014:
	Whole loans, floating rate(1) (4) (5)		73		$	1,263,592			LIBOR plus 1.75% to	May 2015 to
									LIBOR plus 15.00%	Feb-19
	B notes, fixed rate		1		16,072				8.68%	Apr-16
	Mezzanine loans, floating rate		1		12,558				LIBOR plus 15.32%	Apr-16
	Mezzanine loans, fixed rate (6)		3		54,808				0.50% to 18.71%	January 2016 to
										Sep-19
	Total (2)		78		$	1,347,030
	-1	Whole loans had $96.8 million and $105.1 million in unfunded loan commitments as of March 31, 2015 and December 31, 2014, respectively.  These unfunded commitments are advanced as the borrowers formally request additional funding as permitted under the loan agreement and any necessary approvals have been obtained.
	-2	The total does not include an allowance for loan loss of $4.0 million and $4.0 million as of March 31, 2015 and December 31, 2014, respectively.
	-3	Maturity dates do not include possible extension options that may be available to the borrowers.
	-4	Floating rate loans include two whole loans with a combined $12.0 million mezzanine component that have fixed rates of 12.0%, and two whole loans with a combined $4.2 million mezzanine component that have fixed rates of 15.0%, as of March 31, 2015 and December 31, 2014.
	-5	Floating rate whole loans include a $799,000 junior mezzanine tranche of a whole loan that has a fixed rate of 10.0% as of March 31, 2015 and December 31, 2014.
	-6	Fixed rate mezzanine loans include a mezzanine loan that was modified into two tranches, which both currently pay interest at 0.50%. In addition, the subordinate tranche accrues interest at LIBOR plus 18.50% which is deferred until maturity.
The following is a summary of the weighted average maturity of the Company’s commercial real estate loans, at amortized cost (in thousands):
Description		2015				2016			2017 and Thereafter			Total
As of March 31, 2015
B notes		$	—			$	16,031		$	—		$	16,031
Mezzanine loans		—				16,739			50,732			67,471
Whole loans		—				27,678			1,334,704			1,362,382
Total (1)		$	—			$	60,448		$	1,385,436		$	1,445,884
As of December 31, 2014:		2015				2016			2017 and Thereafter			Total
B notes		$	—			$	16,072		$	—		$	16,072
Mezzanine loans		—				16,736			50,630			67,366
Whole loans		—				27,665			1,235,927			1,263,592
Total (1)		$	—			$	60,473		$	1,286,557		$	1,347,030
-1	Weighted average maturity of commercial real estate loans assumes full exercise of extension options available to borrowers.
At March 31, 2015, the Company’s bank loan portfolio consisted of $298.2 million (net of allowance of $720,000) of floating rate loans, which bear interest ranging between the three month London Interbank Offered Rate (“LIBOR”) plus 1.50% and the three month LIBOR plus 8.75% with maturity dates ranging from April 2015 to February 2024.
At December 31, 2014, the Company’s bank loan portfolio consisted of $330.4 million (net of allowance of $570,000) of floating rate loans, which bear interest ranging between the three month LIBOR plus 1.25% and the three month LIBOR plus 8.75% with maturity dates ranging from January 2015 to February 2024.
The following is a summary of the weighted average maturity of the Company’s bank loans, at amortized cost and loans held-for-sale, at the lower of cost or market (in thousands):
	March 31,				December 31,
	2015				2014
Less than one year	$	1,625			$	7,829
Greater than one year and less than five years	282,658				274,332
Five years or greater	13,926				48,769
	$	298,209			$	330,930
At March 31, 2015, the Company’s middle market loan portfolio consisted of $292.3 million (net of allowance of $2.5 million) of floating rate loans, which bear interest ranging between the one or three month LIBOR plus 5.50% and one or three month LIBOR plus 11.75% with maturity dates ranging from December 2016 to November 2022.
At December 31, 2014, the Company’s middle market loan portfolio consisted of $250.1 million of floating rate loans, which bore interest ranging between the three month LIBOR plus 5.50% and the three month LIBOR plus 9.25% with maturity dates ranging from December 2016 to November 2022.
The following is a summary of the weighted average maturity of the Company’s middle market loans, at amortized cost (in thousands):
	March 31,				December 31,
	2015				2014
Less than one year	$	—			$	—
Greater than one year and less than five years	158,183				132,353
Five years or greater	136,610				117,760
	$	294,793			$	250,113
The following is a summary of the allocation of the allowance for loan loss with respect to the Company's loans (in thousands, except percentages) by asset class:
Description		Allowance for				Percentage of Total Allowance
		Loan Loss
As of March 31, 2015:
B notes		$	22			0.30%
Mezzanine loans		98				1.33%
Whole loans		3,923				53.12%
Bank loans		720				9.75%
Middle market loans		2,512				34.01%
Residential mortgage loans		110				1.49%
Total		$	7,385
As of December 31, 2014:
B notes		$	55			1.19%
Mezzanine loans		230				4.99%
Whole loans		3,758				81.47%
Bank loans		570				12.36%
Total		$	4,613
Principal paydown receivables represent the portion of the Company's loan portfolio for which indication has been provided through its various servicers, trustees, or its asset management group that a payoff or paydown of a loan has been received but which, as of period end, the Company has not received and applied such cash to the outstanding loan balance. At March 31, 2015, principal paydown receivables relating to the Company's commercial real estate loan portfolio totaled $26.9 million, the entirety of which the Company received in cash during April 2015.
At March 31, 2015 and December 31, 2014, approximately 26.9% and 27.4%, respectively, of the Company’s commercial real estate loan portfolio was concentrated in California; approximately 6.8% and 7.3%, respectively, in Arizona, and approximately 26.5% and 27.3%, respectively, in Texas. At March 31, 2015 and December 31, 2014, approximately 16.7% and 17.5%, respectively, of the Company’s bank loan portfolio was concentrated in the collective industry grouping of healthcare, education and childcare. At March 31, 2015 and December 31, 2014, approximately 11.5% and 13.1%, respectively, of the Company's middle market loan portfolio was concentrated in the collective industry grouping of hotels, motels, inns, and gaming and 10.3% and 13.7%, respectively, of the Company's middle market loan portfolio was concentrated in the collective industry grouping of personal, food and miscellaneous service. During the quarter ended March 31, 2015, approximately 44.0% of the Company's residential mortgage loans were originated in Georgia, 12.0% in Utah, 9.0% in Virgina, 5.0% in Maryland, and 5.0% in North Carolina. At December 31, 2014 approximately 56.0% of the Company's residential mortgage loans were originated in Georgia, 8.0% in Utah, 7.0% in Virginia, 5.0% in Alabama, and 4.0% in Tennessee.

INVESTMENTS_IN_UNCONSOLIDATED_

INVESTMENTS IN UNCONSOLIDATED ENTITIES	3 Months Ended
	Mar. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS IN UNCONSOLIDATED ENTITIES	NOTE 8 - INVESTMENTS IN UNCONSOLIDATED ENTITIES
	The following table shows the Company's investments in unconsolidated entities as of March 31, 2015 and December 31, 2014 and equity in net earnings (losses) of unconsolidated subsidiaries for the three months ended March 31, 2015 and 2014 (in thousands):
							Equity in Net Earnings (Losses) of Unconsolidated subsidiaries
			Balance as of		Balance as of		For the		For the
							three months ended		three months
									ended
		Ownership %	March 31,		December 31,		March 31,		March 31,
			2015		2014		2015		2014
	Varde Investment Partners, L.P	7.50%	$	654	$	654	$	—	$	(1	)
	RRE VIP Borrower, LLC (1)	3% to 5%	—		—		46		866
	Investment in LCC Preferred Stock	28.40%	39,469		39,416		52		(594		)
	Investment in CVC Global Credit Opportunities Fund	20.60%	13,817		18,209		608		834
	Investment in	50.20%	—		—		—		(75		)
	Life Care Funding (2)
	Investment in School Lane House (1)		—		—		—		984
	Subtotal		53,940		58,279		706		2,014
	Investment in RCT I and II (3)	3%	1,548		1,548		593		589
	Investment in Preferred Equity (1) (4)		—		—		—		1,228
	Total		$	55,488	$	59,827	$	1,299	$	3,831
	-1	Investment in School Lane House, Investment in RRE VIP Borrower and the Investment in Preferred Equity were sold or repaid as of December 31, 2014.
	-2	In January 2013, LTCC invested $2.0 million into LCF for the purpose of originating and acquiring life settlement contracts. In February 2014, the Company invested an additional $1.4 million which resulted in the consolidation of LCF during the first quarter of 2014. Ownership percentage represents ownership after consolidation.
	-3	For the three months ended March 31, 2015 and 2014, these amounts are recorded in interest expense on the Company's consolidated statements of income.
	-4	For the three months ended March 31, 2014, these amounts are recorded in interest income on loans on the Company's consolidated statements of income.

FINANCING_RECEIVABLES

FINANCING RECEIVABLES	3 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
FINANCING RECEIVABLES	NOTE 9 - FINANCING RECEIVABLES
	The following tables show the allowance for loan losses and recorded investments in loans for the years indicated (in thousands):
		Commercial Real Estate Loans				Bank Loans				Middle Market Loans			Residential Mortgage Loans			Loans Receivable-Related Party			Total
	As of March 31, 2015:
	Allowance for Loan Losses:
	Allowance for losses at January 1, 2015	$	4,043			$	570			$	—		$	—		$	—		$	4,613
	Provision (recovery) for loan losses	—				1,415				2,566			197			(188		)	3,990
	Loans charged-off	—				(1,265		)		(54		)	(197		)	188			(1,328		)
	Recoveries	—				—				—			110			—			110
	Allowance for losses at March 31, 2015	$	4,043			$	720			$	2,512		$	110		$	—		$	7,385
	Ending balance:
	Individually evaluated for impairment	$	2,202			$	86			$	2,512		$	—		$	—		$	4,800
	Collectively evaluated for impairment	$	1,841			$	634			$	—		$	110		$	—		$	2,585
	Loans acquired with deteriorated credit quality	$	—			$	—			$	—		$	—		$	—		$	—
	Loans:
	Ending balance: (1)
	Individually evaluated for impairment	$	166,180			$	215			$	294,793		$	—		$	1,229		$	462,417
	Collectively evaluated for impairment	$	1,279,704			$	297,994			$	—		$	2,641		$	—		$	1,580,339
	Loans acquired with deteriorated credit quality	$	—			$	—			$	—		$	—		$	—		$	—
	As of December 31, 2014:
	Allowance for Loan Losses:
	Allowance for losses at January 1, 2014	$	10,416			$	3,391			$	—		$	—		$	—		$	13,807
	Provision for loan losses	(3,758		)		4,173				92			—			1,297			1,804
	Loans charged-off	(2,615		)		(6,994		)		(92		)	—			(1,297		)	(10,998		)
	Allowance for losses at December 31, 2014	$	4,043			$	570			$	—		$	—		$	—		$	4,613
	Ending balance:
	Individually evaluated for impairment	$	—			$	570			$	—		$	—		$	—		$	570
	Collectively evaluated for impairment	$	4,043			$	—			$	—		$	—		$	—		$	4,043
	Loans acquired with deteriorated credit quality	$	—			$	—			$	—		$	—		$	—		$	—
	Loans:
	Ending balance: (1)
	Individually evaluated for impairment	$	166,180			$	1,350			$	250,113		$	—		$	1,277		$	418,920
	Collectively evaluated for impairment	$	1,180,850			$	329,580			$	—		$	2,802		$	—		$	1,513,232
	Loans acquired with deteriorated credit quality	$	—			$	—			$	—		$	—		$	—		$	—
	-1	Loan balances as of March 31, 2015 and December 31, 2014 include loans held for sale.
	Credit quality indicators
	Bank Loans
	The Company uses a risk grading matrix to assign grades to bank loans.  Loans are graded at inception and updates to assigned grades are made continually as new information is received.  Loans are graded on a scale of 1-5 with 1 representing the Company’s highest rating and 5 representing its lowest rating.  The Company also designates loans that are sold after the period end as held for sale at the lower of their fair market value or cost, net of any allowances and costs associated with the loan sales.  The Company considers metrics such as performance of the underlying company, liquidity, collectability of interest, enterprise valuation, default probability, ratings from rating agencies and industry dynamics in grading its bank loans.
	Credit risk profiles of bank loans were as follows (in thousands):
		Rating 1				Rating 2				Rating 3			Rating 4			Rating 5			Held for Sale			Total
	As of March 31, 2015:
	Bank loans	$	200,966			$	16,081			$	5,257		$	1,798		$	215		$	73,892		$	298,209
	As of December 31, 2014:
	Bank loans	$	291,214			$	32,660			$	5,424		$	—		$	1,350		$	282		$	330,930
	All of the Company’s bank loans were performing with the exception of one loan with an amortized cost of $215,000 as of March 31, 2015. As of December 31, 2014, all of the Company's bank loans were performing with the exception of two loans with an amortized cost of $1.4 million, one of which defaulted as of March 31, 2014 and the other of which defaulted as of September 30, 2014.
	Middle Market Loans
	The Company uses a risk grading matrix to assign grades to middle market loans.  At inception, all middle market loans are graded at a 2 and updates to assigned grades are made continually as new information is received. Loans are graded on a scale of 1-5 with 1 representing the Company’s highest rating and 5 representing its lowest rating.  A loan with a rating of a 2 is considered performing within expectations. The Company considers metrics such as performance of the underlying company, liquidity, collectability of interest and principal payments, enterprise valuation, default probability, and industry dynamics in grading its middle market loans.
	Credit risk profiles of middle market loans were as follows (in thousands):
		Rating 1				Rating 2				Rating 3			Rating 4			Rating 5			Held for Sale			Total
	As of March 31, 2015:
	Middle market loans	$	—			$	284,937			$	4,900		$	—		$	4,956		$	—		$	294,793
	As of December 31, 2014:
	Middle market loans	$	—			$	240,245			$	9,868		$	—		$	—		$	—		$	250,113
	All of the Company’s middle market loans were performing as of March 31, 2015 and December 31, 2014.
	Commercial Real Estate Loans
	The Company uses a risk grading matrix to assign grades to commercial real estate loans.  Loans are graded at inception and updates to assigned grades are made continually as new information is received.  Loans are graded on a scale of 1-4 with 1 representing the Company’s highest rating and 4 representing its lowest rating.  The Company also designates loans that are sold after the period end at the lower of their fair market value or cost, net of any allowances and costs associated with the loan sales.  In addition to the underlying performance of the loan collateral, the Company considers metrics such as the strength of underlying sponsorship, payment history, collectability of interest, structural credit enhancements, market trends and loan terms in grading its commercial real estate loans.
	Credit risk profiles of commercial real estate loans were as follows (in thousands):
		Rating 1				Rating 2				Rating 3			Rating 4			Held for Sale			Total
	As of March 31, 2015
	Whole loans	$	1,329,882			$	32,500			$	—		$	—		$	—		$	1,362,382
	B notes	16,031				—				—			—			—			16,031
	Mezzanine loans	45,417				22,054				—			—			—			67,471
		$	1,391,330			$	54,554			$	—		$	—		$	—		$	1,445,884
	As of December 31, 2014:
Whole loans	$	1,231,092			$	32,500			$	—		$	—		$	—		$	1,263,592
B notes	16,072				—				—			—			—			16,072
Mezzanine loans	45,432				21,934				—			—			—			67,366
	$	1,292,596			$	54,434			$	—		$	—		$	—		$	1,347,030
All of the Company’s commercial real estate loans were current as of March 31, 2015 and December 31, 2014.
Residential Mortgage Loans
Residential mortgage loans are reviewed periodically for collectability in light of historical experience, the nature and amount of the loan portfolio, adverse situations that may affect the borrower's ability to repay, estimated value of any underlying collateral, and prevailing underlying conditions. The Company also designates loans that are sold after the period end as held for sale at the lower of their fair market value or cost.
During the first quarter of 2015, The Company recorded a recovery of loan losses in the amount of $110,000 related to two loans at par for which it had previously recognized a provision for loan losses.
Loans Receivable - Related Party
The Company did not record an allowance for loan loss on any related-party loans during the three months ended March 31, 2015. During the year ended December 31, 2014, the Company recorded a provision for loan losses on one related-party loan of $1.3 million before extinguishing the loan and bringing direct financing leases in the amount of $2.1 million on the Company's books in lieu of cash settlement of the loan receivable.
Loan Portfolios Aging Analysis
The following table shows the loan portfolio aging analysis as of the dates indicated at amortized cost (in thousands):
	30-59 Days				60-89 Days				Greater than 90 Days			Total Past Due			Current			Total Loans Receivable			Total Loans > 90 Days and Accruing
As of March 31, 2015:
Whole loans	$	—			$	—			$	—		$	—		$	1,362,382		$	1,362,382		$	—
B notes	—				—				—			—			16,031			16,031			—
Mezzanine loans	—				—				—			—			67,471			67,471			—
Bank loans (1)	—				—				215			215			297,994			298,209			—
Middle market loans	—				—				—			—			294,793			294,793			—
Residential mortgage loans (2)	420				—				88			508			176,692			177,200			—
Loans receivable- related party	—				—				—			—			1,229			1,229			—
Total loans	$	420			$	—			$	303		$	723		$	2,216,592		$	2,217,315		$	—
As of December 31, 2014:
Whole loans	$	—			$	—			$	—		$	—		$	1,263,592		$	1,263,592		$	—
B notes	—				—				—			—			16,072			16,072			—
Mezzanine loans	—				—				—			—			67,366			67,366			—
Bank loans (1)	—				—				1,350			1,350			329,580			330,930			—
Middle market loans	—				—				—			—			250,113			250,113			—
Residential mortgage loans (2)	443				82				119			644			113,612			114,256			—
Loans receivable- related party	—				—				—			—			1,277			1,277			—
Total loans	$	443			$	82			$	1,469		$	1,994		$	2,041,612		$	2,043,606		$	—
-1	Contains $73.9 million and $282,000 of bank loans held for sale at March 31, 2015 and December 31, 2014, respectively.
-2	Contains $174.6 million and $111.5 million of residential mortgage loans held for sale at March 31, 2015 and December 31, 2014, respectively.
Impaired Loans
The following tables show impaired loans as of the dates indicated (in thousands):
	Recorded Balance				Unpaid Principal Balance				Specific Allowance			Average Investment in Impaired Loans			Interest Income Recognized
As of March 31, 2015:
Loans without a specific valuation allowance:
Whole loans	$	128,108			$	128,108			$	—		$	130,445		$	13,617
B notes	$	—			$	—			$	—		$	—		$	—
Mezzanine loans	$	38,072			$	38,072			$	—		$	38,072		$	3,186
Bank loans	$	—			$	—			$	—		$	—		$	—
Middle market loans	$	—			$	—			$	—		$	—		$	—
Residential mortgage loans	$	2,641			$	2,641			$	—		$	2,641		$	21
Loans receivable - related party	$	—			$	—			$	—		$	—		$	—
Loans with a specific valuation allowance:
Whole loans	$	—			$	—			$	—		$	—		$	—
B notes	$	—			$	—			$	—		$	—		$	—
Mezzanine loans	$	—			$	—			$	—		$	—		$	—
Bank loans	$	215			$	215			$	(86	)	$	—		$	—
Middle market loans	$	4,956			$	4,956			$	(2,512	)	$	—		$	—
Residential mortgage loans	$	—			$	—			$	—		$	—		$	—
Loans receivable - related party	$	—			$	—			$	—		$	—		$	—
Total:
Whole loans	$	128,108			$	128,108			$	—		$	130,445		$	13,617
B notes	—				—				—			—			—
Mezzanine loans	38,072				38,072				—			38,072			3,186
Bank loans	215				215				(86		)	—			—
Middle market loans	4,956				4,956				(2,512		)	—			—
Residential mortgage loans	2,641				2,641				—			2,641			21
Loans receivable - related party	—				—				—			—			—
	$	173,992			$	173,992			$	(2,598	)	$	171,158		$	16,824
As of December 31, 2014:
Loans without a specific valuation allowance:
Whole loans	$	128,108			$	128,108			$	—		$	130,445		$	12,679
B notes	$	—			$	—			$	—		$	—		$	—
Mezzanine loans	$	38,072			$	38,072			$	—		$	38,072		$	2,859
Bank loans	$	—			$	—			$	—		$	—		$	—
Middle market loans	$	—			$	—			$	—		$	—		$	—
Residential mortgage loans	$	2,082			$	2,082			$	—		$	2,082		$	148
Loans receivable - related party	$	—			$	—			$	—		$	—		$	—
Loans with a specific valuation allowance:
Whole loans	$	—			$	—			$	—		$	—		$	—
B notes	$	—			$	—			$	—		$	—		$	—
Mezzanine loans	$	—			$	—			$	—		$	—		$	—
Bank loans	$	1,350			$	1,350			$	(570	)	$	—		$	—
Middle market loans	$	—			$	—			$	—		$	—		$	—
Residential mortgage loans	$	—			$	—			$	—		$	—		$	—
Loans receivable - related party	$	—			$	—			$	—		$	—		$	—
Total:
Whole loans	$	128,108			$	128,108			$	—		$	130,445		$	12,679
B notes	—				—				—			—			—
Mezzanine loans	38,072				38,072				—			38,072			2,859
Bank loans	1,350				1,350				(570		)	—			—
Middle market loans	—				—				—			—			—
Residential mortgage loans	2,082				2,082				—			2,082			148
Loans receivable - related party	—				—				—			—			—
	$	169,612			$	169,612			$	(570	)	$	170,599		$	15,686
Troubled-Debt Restructurings
The following tables show troubled-debt restructurings in the Company's loan portfolio (in thousands):
	Number of Loans		Pre-Modification Outstanding Recorded Balance				Post-Modification Outstanding Recorded Balance
Three Months Ended March 31, 2015:
Whole loans	2		$	67,459			$	67,459
B notes	—		—				—
Mezzanine loans	—		—				—
Bank loans	—		—				—
Middle market loans	—		—				—
Residential mortgage loans	—		—				—
Loans receivable - related party	—		—				—
Total loans	2		$	67,459			$	67,459
The Company had no troubled-debt restructurings during the three months ended March 31, 2014. As of March 31, 2015 and 2014, there were no commercial real estate loan troubled-debt restructurings that subsequently defaulted.

BUSINESS_COMBINATIONS

BUSINESS COMBINATIONS	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Business Combinations	NOTE 10 - BUSINESS COMBINATIONS
	On February 27, 2014, the Company made an additional capital contribution to LCF which gave the Company majority ownership at 50.2%. As a result, the Company began consolidating the LCF joint venture. The joint venture was established for the purpose of originating and acquiring life settlement contracts through a financing facility.
	The Company engaged a third party expert to assist in determining the fair values of the assets and liabilities assumed on this investment. Based on the final valuation, which determined an enterprise value of LCF of approximately $4.1 million, and in accordance with FASB ASC Topic 805, the Company confirmed that no further adjustments are necessary.

INTANGIBLE_ASSETS

INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 11 - INTANGIBLE ASSETS
	For the three months ended March 31, 2015, the Company recorded amortization expense of $507,000. The Company expects to record amortization expense on intangible assets of approximately $2.0 million for the year ending December 31, 2015, $1.8 million for the year ending December 31, 2016, $1.8 million for the year ending December 31, 2017, $1.6 million for the year ending 2018, and $1.0 million for the year ending December 31, 2019.  The weighted average amortization period was 6.4 years and 6.6 years at March 31, 2015 and December 31, 2014, respectively.
	The following table summarizes intangible assets (in thousands):
		Asset Balance			Accumulated Amortization			Net Asset
	As of March 31, 2015:
	Investment in RCAM	$	21,213		$	(12,223	)	$	8,990
	Investments in PCM:
	Wholesale or correspondent relationships	600			(361		)	239
	Total intangible assets	$	21,813		$	(12,584	)	$	9,229
	As of December 31, 2014:
	Investment in RCAM	$	21,213		$	(11,779	)	$	9,434
	Investments in PCM:
	Wholesale or correspondent relationships	600			(298		)	302
	Total intangible assets	$	21,813		$	(12,077	)	$	9,736
	For the three months ended March 31, 2015 and 2014, the Company recognized $965,000 and $1.7 million, respectively, of fee income related to the investment in RCAM.
	Mortgage Servicing Rights
	Through the Company's wholly-owned residential mortgage originator PCM, residential mortgage loans are sold through one of the following methods: (i) sales to or pursuant to programs sponsored by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation and Government National Mortgage Association, or (ii) sales to private investors. The Company may have continuing involvement in mortgage loans sold by retaining servicing rights and servicing obligations.
	The total servicing portfolio consists of loans associated with capitalized mortgage servicing rights (“MSRs”) and loans held for sale.  The total servicing portfolio was $1.2 billion and $894.8 million as of March 31, 2015 and December 31, 2014.  MSRs recorded in the Company's consolidated balance sheets are related to the capitalized servicing portfolio and are created through the sale of originated loans.
	The activity in the loan servicing portfolio associated with capitalized servicing rights consisted of (in thousands):
		March 31,			December 31,
		2015			2014
	Balance, beginning of period	$	894,767		$	433,153
	Additions	212,390			519,915
	Payoffs, sales and curtailments	53,151			(58,301		)
	Balance, end of period	$	1,160,308		$	894,767
	The activity in capitalized MSRs is recorded in other assets and consists of the followings (in thousands):
		March 31,			December 31,
		2015			2014
	Balance, beginning of period	$	9,374		$	4,885
	Amortization	(825		)	(1,957		)
	Additions	2,936			6,446
	Sales	—			—
	Balance, end of period	11,485			9,374
	Temporary fair value adjustment	(1,050		)	—
	Balance, end of period	$	10,435		$	9,374
	The Company expects to recognize amortization related to its mortgage servicing rights portfolio in the amount of $2.0 million for the year ending December 31, 2015, $2.0 million for the year ending December 31, 2016, $1.8 million for the year ending December 31, 2017, $1.7 million for the year ending December 31, 2018, and $1.1 million for the year ending December 31, 2019. The weighted average amortization period was 1.3 years and 1.4 years at March 31, 2015 and December 31, 2014, respectively.
	The value of MSRs is driven by the net positive, or in some cases net negative, cash flows associated with servicing activities.  These cash flows include contractually specified servicing fees, late fees and other ancillary servicing revenue and were recorded within fee income as follows (in thousands):
		For the Three Months Ended
		March 31,
		2015			2014
	Servicing fees from capitalized portfolio	$	551		$	308
	Late fees	$	23		$	22
	Other ancillary servicing revenue	$	3		$	4

BORROWINGS

BORROWINGS	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
BORROWINGS	NOTE 12 - BORROWINGS
	The Company historically has financed the acquisition of its investments, including investment securities and loans , through the use of secured and unsecured borrowings in the form of securitized notes, repurchase agreements, secured term facilities, warehouse facilities, convertible senior notes, senior secured revolving credit agreements and trust preferred securities issuances.  Certain information with respect to the Company’s borrowings is summarized in the following table (in thousands, except percentages):
		Principal				Unamortized Issuance Costs and Discounts				Outstanding Borrowings				Weighted Average		Weighted Average	Value of
		Outstanding												Borrowing Rate		Remaining	Collateral
																Maturity
	As of March 31, 2015:
	RREF CDO 2006-1 Senior Notes	$	52,957			$	—			$	52,957			2.31%		31.4 years	$	130,727
	RREF CDO 2007-1 Senior Notes	131,780				63				131,717				1.14%		31.5 years	258,175
	RCC CRE Notes 2013 Senior Notes	182,040				2,493				179,547				2.28%		13.7 years	205,386
	RCC 2014-CRE2 Senior Notes	235,344				3,682				231,662				1.47%		17.1 years	349,063
	RCC 2015-CRE3 Senior Notes	282,127				4,116				278,011				2.07%		17.0 years	339,654
	Apidos CDO III Senior Notes	67,028				—				67,028				1.28%		5.5 years	78,957
	Apidos Cinco CDO Senior Notes	229,716				72				229,644				0.87%		5.1 years	252,826
	Moselle CLO S.A. Securitized Borrowings, at fair value (1)	120				—				120				N/A		N/A	537
	Unsecured Junior Subordinated Debentures (2)	51,548				292				51,256				4.21%		21.6 years	—
	6.0% Convertible Senior Notes	115,000				6,182				108,818				6.00%		3.7 years	—
	8.0% Convertible Senior Notes	100,000				7,052				92,948				8.00%		4.8 years	—
	CRE - Term Repurchase Facilities (3)	93,734				1,583				92,151				2.21%		18 days	135,951
	CMBS - Term Repurchase Facility (4)	29,391				—				29,391				1.37%		18 days	35,977
	Residential Investments - Term Repurchase Facility	104,547				125				104,422				2.43%		25 days	121,472
	Residential Mortgage Financing Agreements	74,648				—				74,648				2.78%		130 days	95,479
	CMBS - Short Term Repurchase Agreements (5)	67,785				—				67,785				1.63%		18 days	94,857
	Senior Secured Revolving Credit Agreement	135,000				2,507				132,493				2.68%		2.5 years	292,453
	Total	$	1,952,765			$	28,167			$	1,924,598			2.46%		10.8 years	$	2,391,514
		Principal				Unamortized Issuance Costs and Discounts				Outstanding Borrowings				Weighted Average		Weighted Average	Value of
		Outstanding												Borrowing Rate		Remaining	Collateral
																Maturity
	As of December 31, 2014:
	RREF CDO 2006-1 Senior Notes	$	61,423			$	—			$	61,423			2.12%		31.6 years	$	139,242
	RREF CDO 2007-1 Senior Notes	130,340				133				130,207				1.19%		31.8 years	271,423
	RCC CRE Notes 2013 Senior Notes	226,840				2,683				224,157				2.11%		14.0 years	249,983
	RCC 2014-CRE2 Senior Notes	235,344				3,687				231,657				1.45%		17.3 years	346,585
	Apidos CDO III Senior Notes	74,646				—				74,646				1.18%		5.7 years	85,553
	Apidos Cinco CDO Senior Notes	255,664				201				255,463				0.81%		5.4 years	272,512
	Moselle CLO S.A. Senior Notes, at fair value (6)	63,321				—				63,321				1.49%		5.0 years	93,576
	Moselle CLO S.A. Securitized Borrowings, at fair value (1)	5,619				—				5,619				1.49%		5.0 years	—
	Unsecured Junior	51,548				343				51,205				4.19%		21.8 years	—
	Subordinated Debentures (2)
	6.0% Convertible Senior Notes	115,000				6,626				108,374				6.00%		3.9 years	—
	CRE - Term Repurchase Facilities (3)	207,640				1,958				205,682				2.43%		20 days	297,571
	CMBS - Term Repurchase Facility (4)	24,967				—				24,967				1.35%		20 days	30,180
	Residential Investments - Term Repurchase Facility (6)	22,248				36				22,212				1.16%		1 day	27,885
	Residential Mortgage Financing Agreements (7)	102,576				—				102,576				2.78%		207 days	147,472
	CMBS - Short Term Repurchase Agreements (5)	44,225				—				44,225				1.63%		17 days	62,446
	Senior Secured Revolving Credit Agreement	113,500				2,363				111,137				2.66%		2.7 years	262,687
	Total	$	1,734,901			$	18,030			$	1,716,871			2.09%		10.0 years	$	2,287,115
	-1	The securitized borrowings were collateralized by the same assets as the Moselle CLO Senior Notes.
	-2	Amount represents junior subordinated debentures issued to RCT I and RCT II in May 2006 and September 2006, respectively.
	-3	Amounts also include accrued interest expense of $75,000 and $198,000 related to CRE repurchase facilities as of March 31, 2015 and December 31, 2014, respectively.
	-4	Amounts also include accrued interest expense of $13,000 and $12,000 related to CMBS repurchase facilities as of March 31, 2015 and December 31, 2014, respectively. Amounts do not reflect CMBS repurchase agreement borrowings that are components of linked transactions as of December 31, 2014.
	-5	Amounts also includes accrued interest expense of $39,000 and $31,000 related to CMBS short term repurchase facilities as of March 31, 2015 and December 31, 2014.
	-6	The fair value option was elected for the borrowings associated with Moselle CLO. As such, the outstanding borrowings and principal outstanding amounts are stated at fair value. The unpaid principal amounts of these borrowings were $63.3 million at December 31, 2014.
	-7	Amount also includes interest expenses of $20,000 related to residential investment repurchase facilities as of December 31, 2014,
	Securitizations
	The following table sets forth certain information with respect to the Company's securitizations:
	Securitization		Closing Date		Maturity Dates		Reinvestment Period End		Total Note Paydowns as of March 31, 2015
									(in millions)
	RREF CDO 2006-1 Senior Notes		Aug-06		Aug-46		Sep-11		$	194.2
	RREF CDO 2007-1 Senior Notes		Jun-07		Sep-46		Jun-12		$	209.2
	RCC CRE Notes 2013 Senior Notes		Dec-13		Dec-28		N/A		$	78.8
	RCC 2014-CRE2 Senior Notes		Jul-14		Apr-32		N/A		$	—
	RCC 2015-CRE3 Senior Notes		Feb-15		Mar-32		N/A		$	—
	Apidos CDO III Senior Notes		May-06		Sep-20		Jun-12		$	195.5
	Apidos Cinco CDO Senior Notes		May-07		May-20		May-14		$	92.3
Moselle CLO S.A. Securitized Borrowings		Oct-05		Jan-20		Jan-12		$	5
In November 2014, the Company called Moselle CLO S.A, substantially liquidating the securitization's assets. Proceeds from the sale of these assets, plus proceeds from previous sales and paydowns in the CLO, were used to pay down $167.2 million of Senior Notes in full, and $5.0 million of the Securitized Borrowings as of March 31, 2015.
The investments held by the Company's securitizations collateralized the securitization's borrowings and, as a result, are not available to the Company, its creditors, or stockholders. All senior notes retained at closing or subsequently repurchased by the Company as of March 31, 2015, eliminate in consolidation.
RCC 2015-CRE3
In February 2015, the Company closed RCC 2015-CRE3, a $346.2 million CRE securitization transaction that provided financing for transitional commercial real estate loans. RCC 2015-CRE3 issued a total of $282.1 million of senior notes at par to unrelated investors.  RCC Real Estate purchased 100% of the Class E and Class F senior notes for $20.8 million and $15.6 million, respectively.  In addition, Resource Real Estate Funding 2015-CRE3 Investor, LLC, a subsidiary of RCC Real Estate, purchased a $27.7 million equity interest representing 100% of the outstanding preference shares.  The senior notes purchased by RCC Real Estate are subordinated in right of payment to all other senior notes issued by RCC 2015-CRE3, but are senior in right of payment to the preference shares.  The equity interest is subordinated in right of payment to all other securities issued by RCC 2015-CRE3.
At closing, the senior notes issued to investors by RCC 2015-CRE3 consisted of the following classes: (i) $193.9 million of Class A notes bearing interest at one-month LIBOR plus 1.40%; (ii) $17.3 million of Class A-S notes bearing interest at one-month LIBOR plus 1.65%; (iii) $19.5 million of Class B notes bearing interest at one-month LIBOR plus 2.40%; (iv) $20.8 million of Class C notes bearing interest at one-month LIBOR plus 3.15%; (v) $30.7 million of Class D notes bearing interest at one-month LIBOR plus 4.00%; (vi) $20.8 million of Class E notes bearing interest at one-month LIBOR plus 4.75%; (vii) and $15.6 million of Class F notes bearing interest at one-month LIBOR plus 5.50%.  All of the notes issued mature in March 2032, although the Company has the right to call the notes anytime after March 2017 until maturity. There is no reinvestment period in RCC 2015-CRE3; however, principal repayments, for a period ending in February 2017, may be used to purchase funding participations with respect to existing collateral held outside of the securitization.
Moselle CLO S.A.
The Company exercised its right in to call the notes of Moselle CLO S.A. in November 2014, substantially liquidating the securitization's assets. Proceeds from the sale of these assets, plus proceeds from previous sales and paydowns in the CLO, were used to pay down the Senior Notes in full, and $5.0 million of the Securitized Borrowings as of March 31, 2015.
8.0% Convertible Senior Notes
In January 2015, the Company issued and sold in a public offering $100.0 million aggregate principal amount of its 8.0% Convertible Senior Notes due 2020, ("8.0% Convertible Senior Notes"). After deducting a $1.0 million underwriting discount and deferred debt issuance costs totaling $2.1 million, the Company received approximately $97.0 million of net proceeds. The discount and deferred issuance costs will be amortized on a straight-line basis as additional interest expense through maturity on January 15, 2020. Interest on the 8.0% Convertible Senior Notes is paid semi-annually.
The 8.0% Convertible Senior Notes are convertible at the option of the holder at a current conversion rate of 187.4414 common shares per $1,000 principal amount of 8.0% Convertible Senior Notes (equivalent to an initial conversion price of $5.34 per common share). Upon conversion of 8.0% Convertible Senior Notes by a holder, the holder will receive cash, the Company's common shares or a combination of cash and the Company's common shares, at the Company's election.
Repurchase and Credit Facilities
Borrowings under the repurchase agreements were guaranteed by the Company or one of its subsidiaries. The following table sets forth certain information with respect to the Company's borrowings (dollars in thousands):
	As of March 31, 2015												As of December 31, 2014
	Outstanding				Value of				Number of		Weighted Average		Outstanding			Value of		Number of	Weighted Average
	Borrowings				Collateral				Positions		Interest Rate		Borrowings			Collateral		Positions	Interest Rate
									as Collateral									as Collateral
CMBS Term
Repurchase Facility
Wells Fargo Bank	$	29,391			$	35,977			34		1.37%		$	24,967		$	30,180	33	1.35%
CRE Term
Repurchase Facilities
Wells Fargo Bank (1)	92,296				135,951				5		2.21%		179,762			258,223		15	2.38%
Deutsche Bank AG (2)	(145		)		—				—		—%		25,920			39,348		2	2.78%
Short-Term Repurchase
Agreements - CMBS
Deutsche Bank Securities, LLC	53,249				70,928				8		1.62%		33,783			44,751		8	1.62%
Wells Fargo Securities, LLC	14,536				23,929				1		1.59%		10,442			17,695		1	1.66%
Residential Investments Term
Repurchase Facility
Wells Fargo Bank (3)	104,422				121,472				146		2.43%		22,212			27,885		6	1.16%
Residential Mortgage
Financing Agreements
New Century Bank	46,419				53,689				231		2.80%		41,387			51,961		158	2.82%
Wells Fargo Bank	28,229				41,790				78		2.75%		61,189			95,511		104	2.75%
Totals	$	368,397			$	483,736							$	399,662		$	565,554
-1	The Wells Fargo CRE term repurchase facility borrowing includes $1.4 million and $1.7 million of deferred debt issuance costs as of March 31, 2015 and December 31, 2014, respectively.
-2	The Deutsche Bank term repurchase facility includes $145,000 and $268,000 of deferred debt issuance costs as of March 31, 2015 and December 31, 2014, respectively.
-3	The Wells Fargo residential investments term repurchase facility includes $125,000 and $36,000 of deferred debt issuance costs as of March 31, 2015 and December 31, 2014, respectively.
As the result of an accounting standards update adopted on January 1, 2015 (see Note 2), the Company unlinked its previously linked transactions and disclosed affected asset, liability, income and expense balances at their gross values in its consolidated financial statements. Accordingly, the Company had no repurchase agreements being accounted for as linked transactions as of March 31, 2015.
The assets in the following table were accounted for as linked transactions as of December 31, 2014. These linked repurchase agreements are not included in borrowings on the Company's consolidated balance sheets (see Note 20).
		As of December 31, 2014
		Borrowings				Value of Collateral				Number		Weighted Average
		Under Linked				Under Linked				of Positions		Interest Rate
		Transactions (1)				Transactions				as Collateral		of Linked
										Under Linked		Transactions
										Transactions
CMBS Term
Repurchase Facility
Wells Fargo Bank		$	4,941			$	6,371			7		1.67%
Short-Term Repurchase
Agreements - CMBS
JP Morgan Securities, LLC		—				—				—		—%
Wells Fargo Securities, LLC		4,108				6,233				2		1.37%
Deutsche Bank Securities, LLC		24,348				36,001				10		1.57%
Totals		$	33,397			$	48,605
The following table shows information about the amount at risk under the repurchase facilities (dollars in thousands):
	Amount at				Weighted Average		Weighted Average
	Risk (1)				Maturity in Days		Interest Rate
As of March 31, 2015:
CMBS Term Repurchase Facility
Wells Fargo Bank, National Association	$	6,176			18		1.37%
Residential Investments Term Repurchase Facility
Wells Fargo Bank, National Association	$	16,804			25		2.43%
CRE Term Repurchase Facilities
Wells Fargo Bank, National Association	$	42,763			18		2.21%
Short-Term Repurchase Agreements - CMBS
Wells Fargo Securities, LLC	$	8,964			6		1.59%
Deutsche Bank Securities, LLC	$	17,452			21		1.62%
Residential Mortgage Financing Agreements
Wells Fargo Bank	$	13,561			93		2.75%
New Century Bank	$	7,270			152		2.80%
As of December 31, 2014:
CMBS Term Repurchase Facility
Wells Fargo Bank, National Association	$	6,486			20		1.35%
Residential Investments Term Repurchase Facility
Wells Fargo Bank, National Association	$	5,017			1		1.16%
CRE Term Repurchase Facilities
Wells Fargo Bank, National Association	$	76,148			20		2.38%
Deutsche Bank Securities, LLC	$	13,017			19		2.78%
Short-Term Repurchase Agreements - CMBS
Wells Fargo Securities, LLC	$	2,127			9		1.66%
Deutsche Bank Securities, LLC	$	11,810			20		1.62%
Residential Mortgage Financing Agreements	$	853			242		2.82%
New Century Bank	$	6,902			183		2.75%
Wells Fargo Bank
-1	Equal to the estimated fair value of securities or loans sold, plus accrued interest income, minus the sum of repurchase agreement liabilities plus accrued interest expense.
The Company is in compliance with all financial covenants as defined in the respective agreements as of March 31, 2015
Residential Investments – Term Repurchase Facility
In June 2014, the Company's wholly-owned subsidiaries, RCC Resi Portfolio and RCC Resi TRS (the “Sellers”) entered into a master repurchase and securities contract (the “2014 Facility”) with Wells Fargo.  Under the 2014 Facility, from time to time, the parties may enter into transactions in which the Sellers and Wells Fargo agree to transfer from the Sellers to Wells Fargo all of their right, title and interest to certain residential mortgage backed securities and other assets against the transfer of funds by Wells Fargo to the Sellers, with a simultaneous agreement by Wells Fargo to transfer back to the Sellers such assets at a date certain or on demand, against the transfer of funds from the Sellers to Wells Fargo.
In January 2015, the Sellers amended the agreement with Wells Fargo to classify trust certificates as assets eligible for sale and repurchase under the Facility. The maximum borrowing amounts of the 2014 Facility under the amended agreement are $110.0 million with respect to purchased residential mortgage backed securities, and $165.0 million with respect to trust certificates collateralized by jumbo mortgage loans. The 2014 Facility's maximum pricing margins are 1.45% and 3.00% on residential mortgage backed securities and jumbo mortgage loans, respectively. The 2014 Facility has a current scheduled termination date of June 22, 2015, and the Company has a one year option to extend at its discretion.
Residential Mortgage Financing Agreements
PCM has master repurchase agreements with New Century Bank d/b/a Customer's Bank ("New Century") and Wells Fargo Bank, NA ("Wells Fargo") to finance the acquisition of residential mortgage loans. At March 31, 2015, PCM received waivers from both New Century and Wells Fargo on a covenant that requires PCM to maintain a minimum liquidity of $7.5 million. The waivers removed the minimum liquidity requirement and all existing defaults for the period March 1, 2015 through April 30, 2015. PCM was in compliance with all other financial covenant requirements under the agreements as of March 31, 2015.
Senior Secured Revolving Credit Agreement
Effective September 18, 2014, the Company, through Northport LLC, closed a $110.0 million syndicated senior secured revolving credit agreement with JP Morgan as the agent bank. The accordion feature of the facility was exercised in September 2014 to bring the facility capacity to $225.0 million and $15.0 million was secured through the addition of Customer's Bank to the syndicate, bringing the effective commitment to $125.0 million. In March 2015, ING Capital LLC agreed to a commitment increase of $15.0 million, bringing the effective commitment to $140.0 million as of March 31, 2015.

SHARE_ISSUANCE_AND_REPURCHASE

SHARE ISSUANCE AND REPURCHASE	3 Months Ended
	Mar. 31, 2015
Stockholders' Equity Note [Abstract]
SHARE ISSUANCE AND REPURCHASE	NOTE 13 - SHARE ISSUANCE AND REPURCHASE
		Three Months Ended March 31, 2015			Total Outstanding
		Number of Shares	Weighted Average Offering Price		Number of Shares	Weighted Average Offering Price
	8.50% Series A Preferred Stock	—	$	—	1,069,016	$	24.05
	8.25% Series B Preferred Stock	139,333	$	22.34	5,740,479	$	23.81
	8.625% Series C Preferred Stock	—	$	—	4,800,000	$	25
	On or after June 14, 2017 the Company may, at its option, redeem the Series A preferred stock, in whole or part, at any time and from time to time, for cash at $25.00 per share, plus accrued and unpaid dividends, if any, to the redemption date.
	On or after October 2, 2017 the Company may, at its option, redeem the Series B preferred stock, in whole or part, at any time and from time to time, for cash at $25.00 per share, plus accrued and unpaid dividends, if any, to the redemption date.
	On or after July 30, 2024, the Company may, at its option, redeem the Series C preferred stock, in whole or part, at any time and from time to time, for cash at $25.00 per share, plus accrued and unpaid dividends, if any, to the redemption date.
	Under a dividend reinvestment plan authorized by the board of directors on March 21, 2013, the Company is authorized to issue up to 20,000,000 shares of common stock. During the three months ended March 31, 2015, the Company sold approximately 22,000 shares of common stock through this program, resulting in proceeds of approximately $106,000.

SHAREBASED_COMPENSATION

SHARE-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	NOTE 14 - SHARE-BASED COMPENSATION
	The following table summarizes restricted common stock transactions:
		Non-Employee Directors		Non-Employees			Employees		Total
	Unvested shares as of January 1, 2015	49,203		1,812,853			161,583		2,023,639
	Issued	47,087		1,001,459			115,271		1,163,817
	Vested	(37,786	)	(340,636	)		(7,439	)	(385,861	)
	Forfeited	—		—			(1,271	)	(1,271	)
	Unvested shares as of March 31, 2015	58,504		2,473,676			268,144		2,800,324
	The Company is required to value any unvested shares of restricted common stock granted to non-employees at the current market price.  The estimated fair value of the unvested shares of restricted stock granted during the three months ended March 31, 2015 and 2014, including the grant date fair value of shares issued to the Company’s seven non-employee directors, was $5.6 million, and $3.7 million, respectively.
	The following table summarizes the restricted common stock grants during the three months ended March 31, 2015:
	Date		Shares (2)	Vesting/Year		Date(s)
	February 3, 2015		7,276	100%		2/3/16
	February 5, 2015		966,095	33.30%		2/5/16, 2/5/17, 2/5/18
	February 5, 2015		115,271	33.30%		2/5/16, 2/5/17, 2/5/18
	March 9, 2015		32,186	100%		3/9/16
	March 12, 2015		7,625	100%		3/12/16
	March 31, 2015		35,364	100%		5/15/16 (1)
	-1	In connection with a grant of restricted common stock made on September 24, 2014, the Company agreed to issue up to 70,728 additional shares of common stock if certain loan origination performance thresholds were achieved by personnel from the Company’s loan origination team.  The performance criteria are measured at the end of two annual measurement periods beginning April 1, 2014.  The agreement also provided dividend equivalent rights pursuant to which the dividends that would have been paid on the shares had they been issued on the date of grant were paid at the end of each annual measurement period if the performance criteria were met.  If the performance criteria are not met, the accrued dividends will be forfeited.  As a consequence, the Company will not record the dividend equivalent rights until earned.  On March 31, 2015, the first annual measurement period ended and 35,364 shares were earned. These shares will vest over the subsequent 12 months at a rate of one-fourth per quarter. In addition, approximately $21,000 of accrued dividend equivalent rights were earned.
	-2	All shares were issued from the 2007 Plan with the exception of these shares which were issued from unregistered shares as part of the consideration for the purchase of PCM.
	The following table summarizes the status of the Company’s vested stock options as of March 31, 2015:
	Vested Options	Number of Options		Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
	Vested as of January 1, 2015	640,666		$	14.45
	Vested	—		—
	Exercised	—		—
	Forfeited	—		—
	Vested as of March 31, 2015	640,666		$	14.45			0.8	$	—
	There were no options granted during the three months ended March 31, 2015 or 2014. The outstanding stock options have a weighted average remaining contractual term of three years.
	The components of equity compensation expense for the periods presented as follows (in thousands):
		For the Three Months Ended
		March 31,
		2015			2014
	Options granted to Manager and non-employees	$	—		$	(2	)
	Restricted shares granted to non-employees (1)	764			1,429
	Restricted shares granted to employees	167			175
	Restricted shares granted to non-employee directors	64			65
	Total equity compensation expense	$	995		$	1,667
	(1) Non-employees are employees of REXI.
	There were no incentive fees paid to the Manager for the three months ended March 31, 2015 and 2014.
	Apart from incentive compensation payable under the Management Agreement, the Company has established no formal criteria for the issuance of equity awards as of March 31, 2015.  All awards are discretionary in nature and subject to approval by the Compensation Committee of the Company's board of directors.
	On October 31, 2013, the Company, through its TRS, RCC Residential, completed a business combination whereby it acquired the assets of PCM, an Atlanta based company that originates and services residential mortgage loans, for approximately $7.6 million in cash. As part of this transaction, a key employee of PCM was granted approximately $800,000 of the Company’s restricted stock. Any grants for employees of PCM are accounted for as compensation and amortized to equity compensation expense over the vesting period. Dividends declared on the stock while unvested are recorded as a general and administrative expense. Dividends declared after the stock vests are recorded as a distribution. For the three months ended March 31, 2015 and 2014, $166,000 and $160,000 of amortization of the stock grants were recorded to equity compensation expense and $43,000 and $52,000 of expense related to dividends on unvested shares was recorded to general and administrative expense on the Company’s consolidated statements of income, respectively.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 15 - EARNINGS PER SHARE
	The following table presents a reconciliation of basic and diluted earnings per share for the periods presented as follows (in thousands, except share and per share amounts):
		For the Three Months Ended
		March 31,
		2015		2014
	Basic:
	Net income allocable to common shares	$	9,402	$	15,116
	Weighted average number of shares outstanding	131,256,909		125,616,537
	Basic net income per share	$	0.07	$	0.12
	Diluted:
	Net income allocable to common shares	$	9,402	$	15,116
	Weighted average number of shares outstanding	131,256,909		125,616,537
	Additional shares due to assumed conversion of dilutive instruments	1,047,508		1,051,077
	Adjusted weighted-average number of common shares outstanding	132,304,417		126,667,614
	Diluted net income per share	$	0.07	$	0.12
	Potentially dilutive shares consisting of 36,011,413 shares issuable in connection with the Company's 6% and 8% Convertible Senior Notes (see Note 12) for the three months ended March 31, 2015 and 17,907,939 shares for the three months ended March 31, 2014, respectively, were not included in the calculation of diluted net income per share because the effect was anti-dilutive.

ACCUMULATED_OTHER_COMPREHENSIV

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Accumulated Other Comprehensive (Loss) Income	NOTE 16 - ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
	The following table, which is presented gross of tax, presents the changes in each component of accumulated other comprehensive income for the three months ended March 31, 2015 (dollars in thousands):
		Net unrealized (loss) gain on derivatives			Net unrealized (loss) gain on securities,			Foreign Currency Translation			Accumulated other comprehensive loss
					available-for-sale
	January 1, 2015	$	(8,967	)	$	15,422		$	(412	)	$	6,043
	Other comprehensive gain (loss) before reclassifications	1,142			3,123			429			4,694
	Amounts reclassified from accumulated other	90			(6,258		)	—			(6,168		)
	comprehensive income
	Net current-period other comprehensive income	1,232			(3,135		)	429			(1,474		)
	Unrealized gains (losses) on available-for-sale securities allocable to non-controlling interests	—			807			—			807
	March 31, 2015	$	(7,735	)	$	13,094		$	17		$	5,376

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 17 - RELATED PARTY TRANSACTIONS
	Relationship with Resource America and Certain of its Subsidiaries
	Relationship with Resource America.  On September 19, 2013, the Audit Committee of the Board of Directors of Resource America concluded that Resource America should consolidate the financial statements of the Company, which was previously treated as an unconsolidated variable interest entity. The Audit Committee reached this conclusion after consultations with the Office of the Chief Accountant of the Securities and Exchange Commission (the “Commission”) following comments received from the staff of the Division of Corporation Finance of the Commission and the Audit Committee's discussion with the Company's management and its independent registered public accounting firm. Resource America's Audit Committee noted that consolidation of the Company was not expected to materially affect Resource America's previously reported net income attributable to common shareholders. At March 31, 2015, Resource America owned 2,861,592 shares, or 2.1%, of the Company’s outstanding common stock.  In addition, Resource America held 2,166 options to purchase restricted stock which options expired on March 8, 2015.
	The Company is managed by the Manager, which is a wholly-owned subsidiary of Resource America, pursuant to a Management Agreement that provides for both base and incentive management fees.  For the three months ended March 31, 2015 and 2014, the Manager earned base management fees of approximately $3.4 million and $2.9 million, respectively. No incentive management fees were earned for the three months ended March 31, 2015 or 2014.  The Company also reimburses the Manager and Resource America for expenses, including the expenses of employees of Resource America who perform legal, accounting, due diligence and other services that outside professionals or consultants would otherwise perform, and for the wages, salaries and benefits of several Resource America personnel dedicated to the Company’s operations.  For the three months ended March 31, 2015 and 2014, the Company paid the Manager $1.1 million and $990,000, respectively, as expense reimbursements.
	On November 24, 2010, the Company entered into an Investment Management Agreement with Resource Capital Markets, Inc. (“RCM”), a wholly-owned subsidiary of Resource America.  The initial agreement provided that: (a) RCM may invest up to $5.0 million of the Company’s funds, with the investable amount being adjusted by portfolio gains (losses) and collections, and offset by expenses, taxes and realized management fees, and (b) RCM can earn a management fee in any year that the net profits earned exceed a preferred return. On June 17, 2011, the Company entered into a revised Investment Management Agreement with RCM which provided an additional $8.0 million of the Company’s funds.  The management fee is 20% of the amount by which the net profits exceed the preferred return.  During the three months ended March 31, 2015 and 2014, RCM earned no management fees. The portfolio began a partial liquidation during the year ended December 31, 2013 that has resulted in the outstanding portfolio balance being significantly decreased. The Company has reinvested gains from its activity and holds $3.9 million in fair market value of trading securities as of March 31, 2015, an increase of $500,000 from $3.4 million at fair market value as of December 31, 2014.  The Company and RCM also established an escrow account that allocates the net profit or net losses of the portfolio on a yearly basis based on the net asset value of the account.  RCM did not earn profits from this account during the three months ended March 31, 2015 and 2014. The Company also reimburses RCM for expenses paid on the Company's behalf. For the three months ended March 31, 2015 and 2014, the Company paid RCM $32,000 and $75,000, respectively, as expense reimbursements.
	At March 31, 2015, the Company was indebted to the Manager for $1.9 million, comprised of base management fees of $1.1 million and expense reimbursements of $750,000.  At December 31, 2014, the Company was indebted to the Manager for $1.6 million, comprised of base management fees of $1.2 million and expense reimbursements of $480,000. At March 31, 2015, the Company was indebted to RCM under the Company’s Investment Management Agreement for $179,000, comprised entirely of expense reimbursements.  At December 31, 2014, the Company was indebted to RCM under the Company’s Investment Management Agreement for $121,000, comprised entirely of expense reimbursements.
	During the year ended December 31, 2013, the Company, through one of its subsidiaries, began originating middle-market loans. Resource America is paid origination fees in connection with the Company’s middle-market lending operations, which fees may not exceed 2% of the loan balance for any loan originated.
	On November 7, 2013, the Company, through a wholly-owned subsidiary, purchased all of the membership interests in Elevation Home Loans, LLC, a start-up residential mortgage company, from an employee of Resource America for $830,000, paid in the form of 136,659 shares of restricted Company common stock.  The restricted stock vests in full on November 7, 2016, and includes dividend equivalent rights.
	The Company had executed ten and nine securitizations as of March 31, 2015 and December 31, 2014, which were structured for the Company by the Manager.  Under the Management Agreement, the Manager was not separately compensated by the Company for executing these transactions and is not separately compensated for managing the securitization's entities and their assets. The Company liquidated one of these securitizations in October 2013 and another in October 2014.
	Relationship with LEAF Commercial Capital. LCC originated and managed equipment leases and notes on behalf of the Company. On March 5, 2010, the Company entered into agreements with Lease Equity Appreciation Fund II, L.P. (“LEAF II”) (an equipment leasing partnership sponsored by LEAF Financial and of which a LEAF Financial subsidiary is the general partner), pursuant to which the Company provided and funded an $8.0 million credit facility to LEAF II.  The credit facility initially had a one year term with interest at 12% per year, payable quarterly, and was secured by all the assets of LEAF II, including its entire ownership interest in LEAF II Receivables Funding.  The Company received a 1% origination fee in connection with establishing the facility.  The facility originally matured on March 3, 2011 and was extended until September 3, 2011 with a 1% extension fee paid on the outstanding loan balance.  On June 3, 2011, the Company entered into an amendment to extend the maturity to February 15, 2012 and to decrease the interest rate from 12% to 10% per annum resulting in a troubled-debt restructuring under current accounting guidance.  On February 15, 2012, the credit facility was further amended to extend the maturity to February 15, 2013 with a 1% extension fee accrued and added to the amount outstanding.  On January 11, 2013, the Company entered into another amendment to extend the maturity to February 15, 2014 with an additional 1% extension fee accrued and added to the amount outstanding. On December 17, 2013, the Company entered into another amendment to extend the maturity to February 15, 2015. At the end of 2014, the Company recorded a provision for loan loss on this loan of $1.3 million before extinguishing the loan and bringing direct financing leases in the amount of $2.1 million on the Company's books in lieu of the loan receivable. During the three months ended March 31, 2015, the Company recorded a partial recovery of this provision in the amount of $188,000. As of March 31, 2015, the Company held $2.0 million of direct financing leases.
	On November 16, 2011, the Company, together with LEAF Financial and LCC, entered into the SPA with Eos (see Note 3). The Company’s resulting interest is accounted for under the equity method.  For the three months ended March 31, 2015 and 2014 the Company recorded a gain of $52,000 and loss of $594,000, respectively, which was recorded in equity in net earnings (losses) of unconsolidated subsidiaries on the consolidated statement of income.  The Company’s investment in LCC was $39.5 million and $39.4 million as of March 31, 2015 and December 31, 2014, respectively.
	Relationship with CVC Credit Partners. On April 17, 2012, Apidos Capital Management (“ACM”), a former subsidiary of Resource America, was sold to CVC Credit Partners, LLC ("CVC Credit Partners"), a joint venture entity in which Resource America owns a 33% interest. CVC Credit Partners manages internally and externally originated bank loan assets on the Company’s behalf.  On February 24, 2011, a subsidiary of the Company purchased 100% of the ownership interests in Churchill Pacific Asset Management LLC ("CPAM") from Churchill Financial Holdings LLC for $22.5 million.  CPAM subsequently changed its name to RCAM. Through RCAM, the Company was initially entitled to collect senior, subordinated and incentive fees related to five CLOs holding approximately $1.9 billion in assets managed by RCAM.  RCAM is assisted by CVC Credit Partners in managing these CLOs.  CVC Credit Partners is entitled to 10% of all subordinated fees and 50% of the incentive fees received by RCAM.  For the three months ended March 31, 2015 and 2014, CVC Credit Partners earned subordinated fees of $237,000 and $370,000, respectively. In October 2012, the Company purchased 66.6% of the preferred equity in one of the RCAM CLOs. In May 2013, the Company purchased additional equity in this CLO, increasing its ownership percentage to 68.3%. In September 2013, this CLO was called and the notes were paid down in full. Another RCAM-managed CLO also elected to redeem its outstanding notes in whole in February 2013.
	In May, June and July 2013, the Company invested a total of $15.0 million in CVC Global Credit Opportunities Fund, L.P. which generally invests in assets through the Master Fund (see Note 3). The fund will pay the investment manager a quarterly management fee in advance calculated at the rate of 1.5% annually based on the balance of each limited partner's capital account. The Company's management fee was waived upon entering the agreement given that the Company is a related party of CVC Credit Partners. For the three months ended March 31, 2015 and 2014, the Company recorded earnings of $608,000 and $834,000, respectively, which was recorded in equity in net earnings (losses) of unconsolidated subsidiaries on the consolidated statement of income. In March 2015, the Company elected to withdraw $5.0 million from the fund bringing the Company's investment balance to $13.8 million as of March 31, 2015 as compared to $18.2 million as of December 31, 2014. The investment is recorded as an investment in unconsolidated entities on the Company's consolidated balance sheets using the equity method.
	Relationship with Resource Real Estate. Resource Real Estate, a subsidiary of Resource America, originates, finances and manages the Company’s commercial real estate loan portfolio, including whole loans, B notes, mezzanine loans, and investments in real estate.  The Company reimburses Resource Real Estate for loan origination costs associated with all loans originated.  The Company had a receivable in the amount of $7,500 and $100,000 due from Resource Real Estate for loan origination costs in connection with the Company’s commercial real estate loan portfolio as of March 31, 2015 and December 31, 2014, respectively.
	On August 9, 2006, the Company, through its subsidiary, RCC Real Estate, originated a loan to Lynnfield Place, a multi-family apartment property, in the amount of $22.4 million. The loan was then purchased by RREF CDO 2006-1. The loan, which was set to mature on May 9, 2018, carried an interest rate of LIBOR plus a spread of 3.50% with a LIBOR floor of 2.50%. On June 14, 2011, RCC Real Estate converted this loan, collateralized by a multi-family building, to equity. The loan was kept outstanding and was used as collateral in RREF CDO 2006-1. RREM was appointed as the asset manager as of August 1, 2011. RREM performed lease review and approval, debt service collection, loan workout, foreclosure, disposition and/or entitlements and permitting, as applicable. RREM was also responsible for engaging third parties to perform day-to-day property management, property leasing, rent collection, maintenance, and capital improvements. RREM was entitled to a monthly asset management fee equal to 4.0% of the gross receipts generated from the property. The Company incurred fees payable to RREM for the three months ended March 31, 2014 in the amount of $34,000. There were no fees incurred for the three months ended March 31, 2015, as the property was sold during the last quarter of 2014 for a gain of $1.9 million.
	On December 1, 2009, the Company purchased a membership interest in RRE VIP Borrower, LLC (an unconsolidated VIE that held an interest in a real estate joint venture) from Resource America for $2.1 million, its book value.  RREM was asset manager of the venture and received a monthly asset management fee equal to 1.0% of the combined investment calculated as of the last calendar day of the month. For the three months ended March 31, 2014, the Company paid RREM management fees of $5,000. There were no fees incurred for the three months ended March 31, 2015, as the last property associated with the joint venture was sold in July 2014. For the three months ended March 31, 2015 and 2014, the Company recorded income of $46,000 and $866,000, respectively, which was recorded in equity in net earnings (losses) of unconsolidated subsidiaries on the consolidated statement of income. The income recorded in 2015 was due to a liquidation of an existing bank account with respect to one the properties.
	On January 15, 2010, the Company loaned $2.0 million to Resource Capital Partners, Inc. (“RCP”), a wholly-owned subsidiary of Resource America, so that it could acquire a 5.0% limited partnership interest in Resource Real Estate Opportunity Fund, L.P. (“RRE Opportunity Fund”).  RCP is the general partner of the RRE Opportunity Fund.  The loan is secured by RCP’s partnership interest in the RRE Opportunity Fund.  The promissory note bears interest at a fixed rate of 8.0% per annum on the unpaid principal balance.  In the event of default, interest will accrue and be payable at a rate of 5.0% in excess of the fixed rate.  Interest is payable quarterly.  Mandatory principal payments must also be made to the extent distributable cash or other proceeds from the partnership represent a return of RCP’s capital.  The loan had an original maturity date of January 14, 2015, with two one-year extensions. RCP exercised the first option, extending the maturity to January 14, 2016. Principal payments of $391,000 were made during the year ended December 31, 2014.  There have been no additional principal payments made. The loan balance was $558,000 at March 31, 2015 and December 31, 2014.
	On June 21, 2011, the Company entered into a joint venture with an unaffiliated third party to form CR SLH Partners, L.P. (“SLH Partners”) to purchase a defaulted promissory note secured by a mortgage on a multi-family apartment building.  The Company purchased a 10% equity interest in the venture and also loaned SLH Partners $7.0 million to finance the project secured by a first mortgage lien on the property. The loan had a maturity date of September 21, 2012 and bore interest at a fixed rate of 10.0% per annum on the unpaid principal balance, payable monthly. The Company received a commitment fee equal to 1.0% of the loan amount at the origination of the loan and received a $70,000 exit fee upon repayment.  On May 23, 2012, SLH Partners repaid the $7.0 million loan in its entirety. RREM was appointed as the asset manager of the venture.  RREM performed lease review and approval, debt service collection, loan workout, foreclosure, disposition and permitting, as applicable.  RREM was also responsible for engaging third parties to perform day-to-day property management, property leasing, rent collection, maintenance, and capital improvements.  RREM received an annual asset management fee equal to 2.0% of the gross receipts generated from the property.  The Company held a $975,000 preferred equity investment in SLH Partners as of December 31, 2013. The investment was sold in 2014 for a $912,000 gain, which was recorded on the Company's consolidated statements of income in equity of earnings of unconsolidated subsidiaries.
	In December 2013, the Company closed RCC CRE Notes 2013, a $307.8 million real estate securitization that provides financing for commercial real estate loans. Resource Real Estate serves as special servicer. With respect to each Specialty Service Mortgage Loan, Resource Real Estate receives an amount equal to the product of (a) the Special Servicing Fee Rate, 0.25% per annum, and (b) the outstanding principal balance of such Specialty Service Mortgage Loan. The servicing fee is payable monthly, on an asset-by-asset basis. The Company utilizes the brokerage services of Resource Securities Inc. ("Resource Securities"), a wholly-owned broker-dealer subsidiary of Resource America, on a limited basis to conduct some of its asset trades. The Company paid Resource Securities a $205,000 placement agent fee in connection with this transaction.
	On July 30, 2014, the Company closed RCC 2014-CRE2, a $353.9 million real estate securitization that provides financing for commercial real estate loans. Resource Real Estate serves as special servicer. With respect to each Specialty Service Mortgage Loan, Resource Real Estate receives an amount equal to the product of (a) the Special Servicing Fee Rate, 0.25% per annum, and (b) the outstanding principal balance of such Specialty Service Mortgage Loan. The servicing fee is payable monthly, on an asset-by-asset basis. The Company paid Resource Securities a $175,000 placement agent fee in connection with this transaction.
	On February 24, 2015, the Company closed RCC 2015-CRE3, a $346.2 million real estate securitization that provides financing for transitional commercial real estate loans. Resource Real Estate serves as special servicer. With respect to each Specialty Service Mortgage Loan, Resource Real Estate receives an amount equal to the product of (a) the Special Servicing Fee Rate, 0.25% per annum, and (b) the outstanding principal balance of such Specialty Service Mortgage Loan. The servicing fee is payable monthly, on an asset-by-asset basis. The Company paid Resource Securities a $100,000 placement agent fee in connection with this transaction.
	In July 2014, the Company formed RCM Global Manager to invest in RCM Global, an entity formed to hold a portfolio of structured product securities. The Company contributed $15.0 million for a 63.8% membership interest in RCM Global. A five member board manages RCM Global, and all actions including purchases and sales must be approved by no less than three of the five members of the board. The portion of RCM Global that the Company does not own is presented as non-controlling interests as of the dates and for the periods presented in the Company's consolidated financial statements. All intercompany accounts and transactions have been eliminated in consolidation. In March, the Company requested and received a proportional, in-kind distribution in certain securities held by RCM Global. The distribution of and subsequent sale of those securities by the Company through its subsidiary, RCC Residential, resulted in the realization of $2.7 million of gains. The Company's ownership interest decreased to 53.2% as of March 31, 2015 as a result of this distribution.
	In September 2014, the Company contributed $17.5 million to Pelium Capital for an initial ownership interest of 80.4%. Pelium Capital is a specialized credit opportunity fund managed by Resource America. The Company funded its final commitment of $2.5 million, as of February 1, 2015. The Company will receive 10% of the carried interest in the partnership for the first five years, and can increase its interest to 20% if the Company's capital contributions aggregate $40.0 million. Resource America contributed securities valued at $2.8 million to the formation of Pelium Capital. The portion of the fund that the Company does not own is presented as non-controlling interests as of the dates and for the periods presented in the Company's consolidated financial statements. All intercompany accounts and transactions have been eliminated in consolidation. The Company's ownership interest in Pelium Capital was 71.8% as of March 31, 2015.
	Relationship with Law Firm.  Until 1996, Edward E. Cohen, a director who was the Company’s Chairman from its inception until November 2009, was of counsel to Ledgewood, P.C., a law firm.  In addition, one of the Company’s executive officers, Jeffrey F. Brotman, was employed by Ledgewood until 2007.  Mr. E. Cohen receives certain debt service payments from Ledgewood related to the termination of his affiliation with Ledgewood and its redemption of his interest in the firm.  Mr. Brotman also receives certain debt service payments from Ledgewood related to the termination of his affiliation with the firm.   For the three months ended March 31, 2015 and 2014, the Company paid Ledgewood $274,000 and $38,000, respectively, in connection with legal services rendered to the Company.

DISTRIBUTIONS

DISTRIBUTIONS	3 Months Ended
	Mar. 31, 2015
DISTRIBUTIONS [Abstract]
DISTRIBUTIONS	NOTE 18 - DISTRIBUTIONS
	For the three months ended March 31, 2015, the Company declared and subsequently paid a dividend of $0.16 per common share.
	In order to qualify as a REIT, the Company must currently distribute at least 90% of its taxable income.  In addition, the Company must distribute 100% of its taxable income in order not to be subject to corporate federal income taxes on retained income.  The Company anticipates it will distribute substantially all of its taxable income to its stockholders.  Because taxable income differs from cash flow from operations due to non-cash revenues or expenses (such as provisions for loan and lease losses and depreciation), in certain circumstances, the Company may generate operating cash flow in excess of its distributions or, alternatively, may be required to borrow to make sufficient distribution payments.
	The Company’s 2015 dividends will be determined by the Company’s board of directors which will also consider the composition of any dividends declared, including the option of paying a portion in cash and the balance in additional common shares.
	The following tables presents dividends declared (on a per share basis) for the three months ended March 31, 2015 and year ended December 31, 2014:
	Common Stock
		Date Paid	Total		Dividend
			Dividend Paid		Per Share
			(in thousands)
	2015
	31-Mar	28-Apr	$	21,423	$	0.16
	2014
	31-Mar	28-Apr	$	25,663	$	0.2
	30-Jun	28-Jul	$	26,179	$	0.2
	30-Sep	28-Oct	$	26,629	$	0.2
	31-Dec	January 28, 2015	$	26,563	$	0.2
	Preferred Stock
	Series A						Series B					Series C
		Date Paid	Total		Dividend		Date Paid	Total		Dividend		Date Paid	Total		Dividend
			Dividend Paid		Per Share			Dividend Paid		Per Share			Dividend Paid		Per Share
			(in thousands)					(in thousands)					(in thousands)
	2015
	31-Mar	30-Apr	$	568	$	0.53125	30-Apr	$	2,960	$	0.515625	30-Apr	$	2,588	$	0.5390625
	2014
	31-Mar	30-Apr	$	463	$	0.53125	30-Apr	$	2,057	$	0.515625	—	—		—
	30-Jun	30-Jul	$	537	$	0.53125	30-Jul	$	2,378	$	0.515625	30-Jul	$	1,437	$	0.0299479
	30-Sep	30-Oct	$	537	$	0.53125	30-Oct	$	2,430	$	0.515625	30-Oct	$	2,588	$	0.5390625
	31-Dec	30-Jan-15	$	568	$	0.53125	30-Jan-15	$	2,888	$	0.515625	January 30, 2015	$	2,588	$	0.5390625

FAIR_VALUE_OF_FINANCIAL_INSTRU

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 19 - FAIR VALUE OF FINANCIAL INSTRUMENTS
	The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value as follows (in thousands):
		Level 1				Level 2				Level 3				Total
	As of March 31, 2015:
	Assets:
	Investment securities, trading	$	—			$	—			$	29,770			$	29,770
	Investment securities available-for-sale	—				32,567				251,503				284,070
	Derivatives (net)	7,015				384				6,636				14,035
	Total assets at fair value	$	7,015			$	32,951			$	287,909			$	327,875
	Liabilities:
	Derivatives (net)	$	—			$	1,319			$	7,541			$	8,860
	Total liabilities at fair value	$	—			$	1,319			$	7,541			$	8,860
	As of December 31, 2014:
	Assets:
	Investment securities, trading	$	—			$	—			$	20,786			$	20,786
	Investment securities available-for-sale	—				33,158				242,562				275,720
	CMBS - linked transactions	—				—				15,367				15,367
	Derivatives (net)	3,429				7				1,868				5,304
	Total assets at fair value	$	3,429			$	33,165			$	280,583			$	317,177
	Liabilities:
	Moselle CLO Notes	$	—			$	—			$	68,940			$	68,940
	Derivatives (net)	—				—				8,476				8,476
	Total liabilities at fair value	$	—			$	—			$	77,416			$	77,416
	Additionally, as of March 31, 2015, the Company had $174.4 million in residential mortgage loans, held for sale for which it has elected the fair value option. The Company's residential mortgage loan portfolio was comprised of both agency loans and non-agency jumbo loans. The fair values of the Company's agency loan portfolio are generally classified as Level 2 in the fair value hierarchy as those values are determined based on quoted market prices or upon other observable inputs. The fair values of the Company's jumbo loan portfolio are generally classified as Level 3 in the fair value hierarchy as those values are generally based upon valuation techniques that utilize unobservable inputs that reflect the assumptions that a market participant would use in pricing those assets. As of March 31, 2015, $61.4 million of residential mortgage loans, held for sale was classified as Level 2 and $113.0 million was classified as Level 3 in the fair value hierarchy.
	As of March 31, 2015, except for a note balance of $120,000, Moselle CLO paid off all of its outstanding CLO notes.
	The following table presents additional information about assets that are measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs (in thousands):
			CMBS including Linked Transactions				ABS				Structured				Warrant				Interest Rate Lock Commitments			Total
											Finance
											Securities
	Balance, January 1, 2015		$	185,772			$	72,157			$	20,786			$	898			$	970		$	280,583
	Included in earnings		—				1,255				1,331				(39		)		11,823			14,370
	Unlinked transactions		33,239				—				—				—				—			33,239
	Purchases		4,000				—				13,337				—				—			17,337
	Sales		—				—				(5,230		)		—				—			(5,230		)
	Paydowns		(30,983		)		(720		)		(454		)		—				—			(32,157		)
	Issuances		—				—				—				—				—			—
	Settlements		—				(11,216		)		—				—				(10,032		)	(21,248		)
	Included in OCI		1,740				(4,597		)		—				—				—			(2,857		)
	Transfers into Level 3		—				856				—				—				—			856
	Balance, March 31, 2015		$	193,768			$	57,735			$	29,770			$	859			$	2,761		$	284,893
	The following table presents additional information about liabilities that are measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs (in thousands):
		Interest rate swaps
	Beginning balance, January 1, 2015	$	8,680
	Unrealized gains - included in accumulated other comprehensive income	(1,142		)
	Included in earnings	—
	Ending balance, March 31, 2015	$	7,538
	The following table summarizes the financial assets and liabilities measured at fair value on a nonrecurring basis and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value as follows (in thousands):
		Level 1				Level 2				Level 3				Total
	As of March 31, 2015:
	Assets:
	Loans held for sale	$	—			$	73,892			$	—			$	73,892
	Impaired loans	—				2,445				—				2,445
	Total assets at fair value	$	—			$	76,337			$	—			$	76,337
	As of December 31, 2014:
	Assets:
	Loans held for sale	$	—			$	36,956			$	—			$	36,956
	Impaired loans	—				1,678				137,811				139,489
	Total assets at fair value	$	—			$	38,634			$	137,811			$	176,445
	Loans held for sale consist of bank loans and CRE loans identified for sale due to credit concerns.  Interest on loans held for sale is recognized according to the contractual terms of the loan and included in interest income on loans.  The fair value of bank loans held for sale and impaired bank loans is based on what secondary markets are currently offering for these loans.  As such, the Company classifies these loans as nonrecurring Level 2.  For the Company’s CRE loans where there is no primary market, fair value is measured using discounted cash flow analysis and other valuation techniques and these loans are classified as nonrecurring Level 3. The amounts of nonrecurring fair value losses for specifically impaired loans for the three months ended March 31, 2015 and 2014 were $2.5 million and $440,000, respectively. The amounts of nonrecurring fair value losses for loans held for sale for the three months ended March 31, 2015 and 2014 were $721,000 and $0, respectively.
	In accordance with FASB ASC Topic 820-10-50-2-bbb, the Company is not required to disclose quantitative information with respect to unobservable inputs contained in fair value measurements that are not developed by the Company. As a consequence, the Company has not disclosed such information associated with fair values obtained from third-party pricing sources.
	For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of March 31, 2015, the significant unobservable inputs used in the fair value measurements were as follows (in thousands):
		Fair Value at March 31, 2015				Valuation Technique		Significant Unobservable Inputs		Significant Unobservable Input Value
	Interest rate swap agreements	$	7,538			Discounted cash flow		Weighted average credit spreads		4.78	%
	Additionally, as of March 31, 2015, the Company also classified the valuation of its warrant derivative in Level 3 of the fair value hierarchy. The value of the warrant was determined using a Black-Scholes model using the following significant unobservable inputs: market capitalization of $112.5 million and volatility of 50.0%.
The Company is required to disclose the fair value of financial instruments for which it is practicable to estimate that value.  The fair values of the Company's short-term financial instruments such as cash and cash equivalents, restricted cash, principal paydown receivable, interest receivable, distribution payable, accrued interest expense, repurchase agreements and the secured revolving credit agreement approximate their carrying value on the consolidated balance sheets.  The fair values of the Company’s investment securities, trading are reported in Note 5, Investment Securities, Trading (see Note 5).  The fair values of the Company’s investment securities available-for-sale are reported in Note 6, Investment Securities Available-for-Sale (see Note 6).  The fair values of the Company’s derivative instruments and linked transactions are reported in Note 20, Market Risk and Derivative Instruments (see Note 20).
Loans held-for-investment:  The fair value of the Company’s Level 2 Loans held-for-investment are primarily measured using a third-party pricing service.  The fair value of the Company’s Level 3 Loans held-for-investment are measured by discounting the expected future cash flows using the current interest rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.
Loans receivable-related party are estimated by discounting the expected future cash flows using the current interest rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.
CDO notes are valued using the dealer quotes, typically the dealer who underwrote the CDO in which the notes are held. Moselle CLO was valued using a third party pricing specialist.
Junior subordinated notes are estimated by obtaining quoted prices for similar assets in active markets.
The fair values of the Company’s remaining financial instruments that are not reported at fair value on the consolidated balance sheets are reported in the following table (in thousands):
					Fair Value Measurements
	Carrying Amount				Fair Value				Quoted Prices in Active Markets for Identical Assets of Liabilities (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
As of March 31, 2015:
Loans held-for-investment	$	1,960,250			$	1,951,974			$	—			$	515,227			$	1,436,747
Loans receivable-related party	$	1,229			$	1,229			$	—			$	—			$	1,229
CDO notes	$	1,170,686			$	1,098,171			$	—			$	—			$	1,098,171
Junior subordinated notes	$	51,256			$	17,750			$	—			$	—			$	17,750
Repurchase agreements	$	368,397			$	368,397			$	—			$	—			$	368,397
Senior secured revolving credit agreement	$	132,493			$	132,493			$	—			$	—			$	132,493
As of December 31, 2014:
Loans held-for-investment	$	1,925,980			$	1,909,019			$	—			$	570,071			$	1,338,948
Loans receivable-related party	$	1,277			$	1,277			$	—			$	—			$	1,277
CDO notes	$	1,046,493			$	975,762			$	—			$	—			$	975,762
Junior subordinated notes	$	51,205			$	17,699			$	—			$	—			$	17,699
Repurchase agreements	$	399,662			$	399,662			$	—			$	—			$	399,662
Senior secured revolving credit agreement	$	111,137			$	111,137			$	—			$	—			$	111,137

MARKET_RISK_AND_DERIVATIVE_INS

MARKET RISK AND DERIVATIVE INSTRUMENTS	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
MARKET RISK AND DERIVATIVE INSTRUMENTS	NOTE 20 - MARKET RISK AND DERIVATIVE INSTRUMENTS
	The Company is directly and indirectly affected by changes in certain market conditions. These changes in market conditions may adversely impact the Company's financial performance and are referred to as "market risks." When deemed appropriate, the Company uses derivatives as a risk management tool to mitigate the potential impact of certain market risks. The primary market risks managed by the Company through the use of derivative instruments are interest rate risk and foreign currency exchange rate risk.
	The Company may hold various derivatives in the ordinary course of business, including warrants, interest rate swaps, forward contracts, options and interest rate lock commitments. Warrants are securities that give the holder the right, but not the obligation, to purchase securities from an issuer at a specific price within a specified time period. Options are contracts sold by one party to another that give the buyer the right, but not the obligation, to buy or sell a financial asset at an agreed-upon price during a certain period of time or on a specific date. Interest rate swap agreements are contracts between two parties to exchange cash flows based on specified underlying notional amounts, assets and/or indices. Forward contracts represent future commitments to either purchase or to deliver loans, securities or a quantity of a currency at a predetermined future date, at a predetermined rate or price and are used to manage interest rate risk on loan commitments and mortgage loans held for sale as well as currency risk with respect to the Company's long positions in foreign currency-denominated investment securities. Rate lock commitments represent commitments to fund loans at a specific rate and by a specified time and are used to mitigate risk of changes in interest rate in the Company's residential mortgage loan portfolio.
	A significant market risk to the Company is interest rate risk.  Interest rates are highly sensitive to many factors, including governmental monetary and tax policies, domestic and international economic and political considerations and other factors beyond the Company’s control.  Changes in the general level of interest rates can affect net interest income, which is the difference between the interest income earned on interest-earning assets and the interest expense incurred in connection with the interest-bearing liabilities, by affecting the spread between the interest-earning assets and interest-bearing liabilities.  Changes in the level of interest rates also can affect the value of the Company’s interest-earning assets and the Company’s ability to realize gains from the sale of these assets.  A decline in the value of the Company’s interest-earning assets pledged as collateral for borrowings could result in the counterparties demanding additional collateral pledges or liquidation of some of the existing collateral to reduce borrowing levels.
	The Company seeks to manage the extent to which net income changes as a function of changes in interest rates by matching adjustable-rate assets with variable-rate borrowings.  During periods of changing interest rates, interest rate mismatches could negatively impact the Company’s consolidated financial condition, consolidated results of operations and consolidated cash flows.  In addition, the Company mitigates the potential impact on net income of periodic and lifetime coupon adjustment restrictions in its investment portfolio by entering into interest rate hedging agreements such as interest rate caps and interest rate swaps.
	At March 31, 2015, the Company had 11 interest rate swap contracts outstanding whereby the Company paid an average fixed rate of 4.78% and received a variable rate equal to either one-month LIBOR or three-month LIBOR.  The aggregate notional amount of these contracts was $136.1 million at March 31, 2015.  The counterparties for the Company’s designated interest rate hedge contracts at such date were Credit Suisse International and Wells Fargo. The Company had master netting agreements with Credit Suisse International and Wells Fargo at March 31, 2015. Regulations promulgated under the Dodd-Frank Act mandate that the Company clear certain new interest rate swap transactions through a central counterparty. Transactions that are centrally cleared result in the Company facing a clearing house, rather than a swap dealer, as counterparty.  Central clearing requires the Company to post collateral in the form of initial and variation margin to our Futures Commission Merchant.  As of March 31, 2015, the Company had centrally cleared derivatives with a fair value of a liability of $24,000.
	At December 31, 2014, the Company had 10 interest rate swap contracts outstanding whereby the Company paid an average fixed rate of 5.12% and received a variable rate equal to one-month LIBOR.  The aggregate notional amount of these contracts was $124.0 million at December 31, 2014.  The counterparties for the Company’s designated interest rate hedge contracts are Credit Suisse International and Wells Fargo with which the Company has master netting agreements.
	The estimated fair value of the Company’s liability related to interest rate swaps was $7.5 million and $8.7 million as of March 31, 2015 and December 31, 2014, respectively.  The Company had aggregate unrealized losses of $7.8 million and $9.0 million on the interest rate swap agreements as of March 31, 2015 and December 31, 2014, respectively, which is recorded in accumulated other comprehensive income.  The amortization is reflected in interest expense in the Company’s consolidated statements of income.  In connection with the June 2007 close of RREF CDO 2007-1, the Company realized a swap termination gain of $2.6 million, which is being amortized over the term of RREF CDO 2007-1.  The accretion is reflected in interest expense in the Company’s consolidated statements of income.  In connection with the termination of a $53.6 million swap related to RREF CDO 2006-1 during the nine months ended September 30, 2008, the Company realized a swap termination loss of $4.2 million, which is being amortized over the term of a new $45.0 million swap.  The amortization is reflected in interest expense in the Company’s consolidated statements of income.  In connection with the payoff of a fixed-rate commercial real estate loan during the three months ended September 30, 2008, the Company terminated a $12.7 million swap and realized a $574,000 swap termination loss, which is being amortized over the original term of the terminated swap.  The amortization is reflected in interest expense in the Company’s consolidated statements of income.
	The Company is also exposed to currency exchange risk, a form of risk that arises from the change in price of one currency against another. Substantially all of the Company's revenues are transacted in U.S. dollars; however, a significant amount of the Company's capital is exposed to other currencies, primarily the euro and the pound sterling. To address this market risk, the Company generally hedges foreign currency-denominated exposures (typically investments in debt instruments, including forecasted principal and interest payments) with currency forward contracts. The Company classifies these hedges as fair value hedges, which are hedges that eliminate the risk of changes in the fair values of assets, liabilities, and certain types of firm commitments. The Company records changes in fair value of derivatives designated and effective as fair value hedges in earnings, offset by corresponding changes in the fair values of the hedges items.
	Forward contracts also contain an element of risk in that the counterparties may be unable to meet the terms of such agreements. In the event the parties to deliver commitments are unable to fulfill their obligations, the Company could potentially incur significant additional costs by replacing the positions at then current market rates. The Company manages its risk of exposure by limiting counterparties to those banks and institutions deemed appropriate by management. The Company does not expect any counterparty to default on its obligations and, therefore, the Company does not expect to incur any cost related to counterparty default.
	The Company is exposed to interest rate risk on loans held for sale and interest rate lock commitments. As market interest rates increase or decrease, the fair value of mortgage loans held for sale and rate lock commitments will decline or increase accordingly. To offset this interest rate risk, the Company may enter into derivatives such as forward contracts to sell loans. The fair value of these forward sales contracts will change as market interest rates change, and the change in the value of these instruments is expected to largely, though not entirely, offset the change in fair value of loans held for sale and rate lock commitments. The objective of this activity is to minimize the exposure to losses on rate lock commitments and loans held for sale due to market interest rate fluctuations. The net effect of derivatives on earnings will depend on risk management activities and a variety of other factors, including market interest rate volatility, the amount of interest rate lock commitments that close, the ability to fill the forward contracts before expiration, and the time period required to close and sell loans.
	During the warehousing phase of the Company’s investments in structured vehicles, the Company may enter into total return swaps to finance the Company’s exposure to assets that will ultimately be securitized. A total return swap is a swap agreement in which one party makes payments based on a set rate, while the other party makes payments based on the return of an underlying asset. Traditionally, the Company pays either an indexed or fixed interest payment to the warehousing lender and receives the net interest income and realized capital gains of the referenced portfolio of assets, generally loans, to be securitized that are owned and held by the warehousing lender. Upon the close of the warehousing period, the Company’s invested equity plus net interest and any capital gains realized during the warehousing period are returned to the Company. Additionally, upon the close of the securitization, the Company may purchase beneficial interests in the securitization at fair value.
	The following tables present the fair value of the Company’s derivative financial instruments as well as their classification on the Company's consolidated balance sheets and on the consolidated statements of income for the years presented:
	Fair Value of Derivative Instruments as of March 31, 2015
	(in thousands)
		Asset Derivatives
		Notional Amount			Balance Sheet Location		Fair Value
	Interest rate lock agreements	$	137,983		Derivatives, at fair value		$	2,761
	Forward contracts - residential mortgage lending	$	78,968		Derivatives, at fair value		$	384
	Forward contracts - foreign currency, hedging (1)(2)	$	40,005		Derivatives, at fair value		$	7,016
	Warrants	$	492		Derivatives, at fair value		$	859
	Total return swap	$	3,000		Derivatives, at fair value		$	3,016
		Liability Derivatives
		Notional Amount			Balance Sheet Location		Fair Value
	Interest rate swap contracts, hedging (3)	$	136,129		Derivatives, at fair value		$	7,539
	Interest rate lock agreements	$	511		Derivatives, at fair value		$	2
	Forward contracts - residential mortgage lending	$	155,000		Derivatives, at fair value		$	1,204
	Forward contracts - TBA securities	$	23,500		Derivatives, at fair value		$	115
	Interest rate swap contracts	$	136,129		Accumulated other comprehensive income		$	7,539
	-1	Notional amount presented on currency converted basis. The notional amount of the Company's foreign currency hedging forward contracts was €37.3 million as of March 31, 2015.
	-2	Foreign currency forward contracts are accounted for as fair value hedges.
	-3	Interest rate swap contracts are accounted for as cash flow hedges.
	Fair Value of Derivative Instruments as of December 31, 2014
	(in thousands)
		Asset Derivatives
		Notional Amount			Balance Sheet Location		Fair Value
	Interest rate lock agreements	$	59,467		Derivatives, at fair value		$	970
	Forward contracts - residential mortgage lending	$	5,000		Derivatives, at fair value		$	7
	Forward contracts - RMBS securities	$	42,614		Derivatives, at fair value		$	1,297
	Forward contracts - foreign currency, hedging (1)(2)	$	54,948		Derivatives, at fair value		$	3,377
	Options - U.S. Treasury futures	$	90		Derivatives, at fair value		$	52
	Warrants	$	492		Derivatives, at fair value		$	898
		Liability Derivatives
		Notional Amount			Balance Sheet Location		Fair Value
	Interest rate swap contracts, hedging (3)	$	124,017		Derivatives, at fair value		$	8,680
	Interest rate lock agreements	$	798		Derivatives, at fair value		$	10
	Forward contracts - residential mortgage lending	$	154,692		Derivatives, at fair value		$	1,036
	Forward contracts - TBA securities	$	15,000		Derivatives, at fair value		$	47
	Interest rate swap contracts	$	124,017		Accumulated other comprehensive income		$	8,680
	-1	Notional amount presented on currency converted basis. The notional amount of the Company's foreign currency hedging forward contracts was €45.4 million as of December 31, 2014.
	-2	Foreign currency forward contracts are accounted for as fair value hedges.
	-3	Interest rate swap contracts are accounted for as cash flow hedges.
	The Effect of Derivative Instruments on the Statements of Income for the
	Three Months Ended March 31, 2015
	(in thousands)
		Derivatives
		Notional Amount			Statement of Income Location		Realized and Unrealized Gain (Loss) (1)
	Interest rate swap contracts, hedging	$	136,129		Interest expense		$	1,634
	Interest rate swap contracts, hedging	$	15,000		Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	112
	Interest rate lock agreements	$	138,494		Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	2,759
	Forward contracts - RMBS securities	$	38,865		Net realized gain on sales of investment securities available-for-sale and loans		$	46
	Forward contracts - residential mortgage lending	$	233,968		Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	283
	Forward contracts - foreign currency, hedging	$	40,004		Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	3,638
	Options - U.S. Treasury futures	$	190		Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	199
Forward contracts - TBA securities	$	23,500		Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	(115	)
(1)Negative values indicate a decrease to the associated balance sheets or consolidated statements of income line items.
The Effect of Derivative Instruments on the Statements of Income for the
Three Months Ended March 31, 2014
(in thousands)
	Derivatives
	Notional Amount			Statement of Income Location		Realized and Unrealized Gain (Loss) (1)
Interest rate swap contracts	$	126,111		Interest expense		$	1,626
Interest rate lock agreements	$	33,912		Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	433
Forward contracts - residential mortgage lending	$	48,890		Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	60
(1)Negative values indicate a decrease to the associated balance sheets or consolidated statements of income line items.
Linked Transactions
As the result of an accounting standards update adopted on January 1, 2015 (see Note 2), the Company unlinked its previously linked transactions and disclosed affected asset, liability, income and expense balances at their gross values in its consolidated financial statements. Accordingly, the Company had no financing arrangements being accounted for as linked transactions as of March 31, 2015.
The Company's linked transactions were evaluated on a combined basis, reported as forward (derivative) instruments and presented as assets on the Company's consolidated balance sheets in the line item linked transactions, net at fair value. The fair value of linked transactions reflected the value of the underlying CMBS, linked repurchase agreement borrowings and accrued interest payable on such instruments. The Company's linked transactions were not designated as hedging instruments and, as a result, the change in the fair value and net interest income from linked transactions was reported in unrealized gain (loss) and net interest income on linked transactions, net on the Company's consolidated statements of income.
As of December 31, 2014, the Company held non-hedging linked transactions, net at fair value of $15.4 million. During the three months ended March 31, 2014, the Company recorded unrealized gain and net interest income on linked transactions of$2.3 million.
The following table presents certain information about the components of the unrealized gain (loss) and net interest income from linked transactions, net, included in the Company's consolidated statements of income for the periods presented as follows ( in thousands):
	Three Months Ended
	March 31,
	2015			2014
Components of Unrealized Net (Losses) Gains and Net Interest Income
Income from linked transactions
Interest income attributable to CMBS underlying linked transactions	$	—		$	739
Interest expense attributable to linked repurchase	—			(197		)
agreement borrowings underlying linked transactions
Change in fair value of linked transactions included in earnings	—			1,763
Unrealized gain (loss) and net interest income from linked transactions, net	$	—		$	2,305
The following table summarizes the Company's investment securities, underlying linked transactions,which are carried at fair value (in thousands):
	Amortized Cost			Unrealized Gains				Unrealized Losses			Fair Value
As of December 31, 2014:
CMBS linked transactions	$	48,138		$	539			$	(72	)	$	48,605
The following table summarizes the estimated maturities of the Company’s CMBS linked transactions according to their estimated weighted average life classifications (in thousands, except percentages):
Weighted Average Life	Fair Value			Amortized Cost				Weighted Average Coupon
As of December 31, 2014:
Less than one year	$	7,834		$	7,775			5.36%
Greater than one year and less than five years	36,587			36,274				4.65%
Greater than five years and less than ten years	4,184			4,089				4.52%
Greater than ten years	—			—				—%
Total	$	48,605		$	48,138			4.66%
The following table shows the fair value, gross unrealized losses and the length of time the investment securities available-for-sale have been in a continuous unrealized loss position during the periods specified (in thousands):
	Less than 12 Months							More than 12 Months						Total
	Fair Value			Gross Unrealized Losses				Fair Value			Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
As of December 31, 2014:
CMBS linked transactions	$	7,609		$	(57	)		$	777		$	(15	)	$	8,386	$	(72	)
The following table summarizes the Company's CMBS linked repurchase agreements (in thousands, except percentages):
		As of December 31, 2014
Maturity or Repricing		Balance			Weighted Average Interest Rate
Within 30 days		$	33,397		1.56	%
>30 days to 90 days		—			—	%
Total		$	33,397		1.56	%

OFFSETTING_OF_FINANCIAL_ASSETS

OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES	3 Months Ended
	Mar. 31, 2015
Offsetting [Abstract]
OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES	NOTE 21 - OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES
	As the result of an accounting standards update adopted on January 1, 2015 (see Note 2), the Company unlinked its previously linked transactions and disclosed affected asset, liability, income and expense balances at their gross values in its consolidated financial statements. Accordingly, the Company had no financing arrangements being accounted for as linked transactions as of March 31, 2015.
	The following table presents a summary of the Company's offsetting of derivative assets for the periods presented (in thousands):
									(iv)
									Gross Amounts Not Offset in
									the Consolidated Balance Sheets
			(i)		(ii)		(iii) =i) - (ii)		Financial		Cash		(v) =iii) - (iv)
			Gross Amounts of		Gross Amounts Offset in the		Net Amounts of Assets Included in		Instruments (1)		Collateral		Net Amount
			Recognized		Consolidated		the Consolidated				Pledged
			Assets		Balance Sheets		Balance Sheets
	As of March 31, 2015:
	Derivative hedging instruments,		$	11,275	$	—	$	11,275	$	—	$	—	$	11,275
	at fair value
	Total		$	11,275	$	—	$	11,275	$	—	$	—	$	11,275
	As of December 31, 2014:
	Derivative hedging instruments,		$	4,334	$	—	$	4,334	$	—	$	—	$	4,334
	at fair value
	Linked transactions		$	48,764	$	33,397	15,367		—		—		15,367
	Total		$	53,098	$	33,397	$	19,701	$	—	$	—	$	19,701
	The following table presents a summary of the Company's offsetting of financial liabilities and derivative liabilities for the periods presented as follows (in thousands):
									(iv)
									Gross Amounts Not Offset in
									the Consolidated Balance Sheets
			(i)		(ii)		(iii) =i) - (ii)		Financial		Cash		(v) =iii) - (iv)
			Gross Amounts of		Gross Amounts Offset in the		Net Amounts of Liabilities Included in		Instruments (1)		Collateral		Net Amount
			Recognized		Consolidated		the Consolidated				Pledged (2)
			Liabilities		Balance Sheets		Balance Sheets
	As of March 31, 2015:
	Derivative hedging instruments,		$	8,858	$	—	$	8,858	$	—	$	1,151	$	7,707
	at fair value (3)
	Repurchase agreements and term facilities (4)		368,397		—		368,397		368,397		—		—
	Total		$	377,255	$	—	$	377,255	$	368,397	$	1,151	$	7,707
	As of December 31, 2014:
	Derivative hedging instruments,		$	8,466	$	—	$	8,466	$	—	$	500	$	7,966
	at fair value (3)
	Repurchase agreements and term facilities (4)		399,662		—		399,662		399,662		—		—
	Linked transactions		33,397		33,397		—		—		—
	Total		$	441,525	$	33,397	$	408,128	$	399,662	$	500	$	7,966
	-1	Amounts represent collateral pledged that is available to be offset against liability balances associated with term facilities, repurchase agreements and derivative transactions.
	-2	Amounts represent amounts pledged as collateral against derivative transactions.
	-3	The fair value of securities pledged against the Company's swaps was $1.3 million and $2.6 million at March 31, 2015 and December 31, 2014, respectively.
	-4	The combined fair value of securities and loans pledged against the Company's various term facilities and repurchase agreements was $483.7 million and $565.6 million at March 31, 2015 and December 31, 2014, respectively.
	In the Company's consolidated balance sheets, all balances associated with repurchase agreement and derivatives transactions are presented on a gross basis.
	Certain of the Company's repurchase agreement and derivative transactions are governed by underlying agreements that generally provide for a right of offset in the event of default or in the event of a bankruptcy of either party to the transaction.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 22 - COMMITMENTS AND CONTINGENCIES
	From time to time, the Company may become involved in litigation on various matters, including disputes arising out of loans in the Company's portfolio and agreements to purchase or sell assets. Given the nature of the Company's business activities, the Company considers these matters to be routine and in the ordinary conduct of its business. The resolution of these matters may result in adverse judgments, fines, penalties, injunctions and other relief against the Company as well as monetary payments or other agreements and obligations.  Alternately, the Company may engage in settlement discussions on certain matters in order to avoid the additional costs of engaging in litigation.
	The Company is unaware of any contingencies arising from such routine litigation that would require accrual or disclosure in the consolidated financial statements as of March 31, 2015.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 23 - SUBSEQUENT EVENTS
	The Company has evaluated subsequent events through the filing of this report and determined that there have not been any events that have occurred that would require adjustments to or disclosures in the consolidated financial statements, except the following:
	On April 1, 2015, Northport TRS LLC entered into an amendment to its Senior Secured Revolving Credit Agreement with JP Morgan Chase Bank. Under the amendment the maximum amount of the commitments outstanding has increased from $225.0 million to $300.0 million. The commitment termination date and maturity date have been extended from September 18, 2017 to March 31, 2018 and September 18, 2018 to March 31, 2019 respectively. In addition, the applicable margin has increased for both LIBOR and Alternate Base Rate ("ABR") borrowings. The LIBOR margin has increased from 2.50% to2.75% and the ABR margin has increased from 1.50% to 1.75%.
	On April 10, 2015, the Company entered into two first mortgage bridge loans in the amount of $2.5 million and $3.3 million with two funds sponsored by Resource America, Resource Real Estate Investors LP and Resource Real Estate Investors II, LP. Each loan carries a rate of LIBOR plus 5.75% with a LIBOR floor of 0.25%. The loans mature on May 5, 2016, with two consecutive one-year options to extend upon the first maturity date. The loan in the amount of $2.5 million was repaid on April 29, 2015.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation
	The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The consolidated financial statements include the accounts of the Company.
	All inter-company transactions and balances have been eliminated.
Recent Accounting Standards	Recent Accounting Standards
	In April 2015, the Financial Accounting Standards Board ("FASB") issued guidance that simplifies the presentation of debt issuance costs by requiring that debt issuance costs be presented in the balance sheet as a deduction from the carrying amount of the related debt liability, consistent with debt discounts or premiums. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. It is effective for annual reporting periods beginning after December 15, 2015, but early adoption is permitted. The Company has early adopted the provisions of this guidance. Note 12, Borrowings, reflects the presentation of debt issuance costs as prescribed by this accounting standards update. Adoption did not have a material impact on the Company's consolidated financial statements.
	In February 2015, the FASB issued guidance that requires an entity to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments: (1) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities; (2) eliminate the presumption that a general partner should consolidate a limited partnership; (3) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related-party relationships; and (4) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. This guidance is effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early application is permitted. The Company is currently evaluating the effect of adoption.
	In November 2014, the FASB issued guidance to eliminate the use of different methods in practice and thereby reduce existing diversity under GAAP in the accounting for hybrid financial instruments issued in the form of a share. An entity that issues or invests in a hybrid financial instrument is required to separate an embedded derivative feature from the host contract (for example, an underlying share) and account for the feature as a derivative according to ASC Subtopic 815-10 on derivatives and hedging if certain criteria are met. This guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. The Company is currently evaluating the effect of adoption.
	In August 2014, the FASB issued guidance that clarifies the disclosures management must make in its interim and annual financial statement footnotes when management has determined that conditions exist that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued (or within one year after the date the financial statements are available to be issued when applicable). In accordance with this guidance, management’s assessment is required to be made each reporting period and should be based on relevant conditions and events that are known and reasonably knowable at the date the financial statements are issued. In all cases, to the extent that substantial doubt about the entity’s ability to continue as a going concern is determined to be probable, management must disclose the principal conditions or events that gave rise to the substantial doubt about the entity’s ability to continue as a going concern, management’s evaluation of the significance of those conditions or events in relation to the entity’s ability to meet its obligations, and management’s plans that either alleviated or are intended to mitigate the conditions or events that gave rise to the substantial doubt about the entity’s ability to continue as a going concern. Additionally, to the extent substantial doubt about the entity’s ability to continue as a going concern is not alleviated by management’s plans, management must indicate in the footnotes that there is substantial doubt about the entity’s ability to continue as a going concern. This guidance is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early adoption is permitted. The Company does not expect adoption will have a material impact on its consolidated financial statements.
	In August 2014, the FASB issued guidance that provides for the election of a measurement alternative when a reporting entity determines that it is the primary beneficiary of a collateralized financing entity and, hence, is required to consolidate that collateralized financing entity. The measurement alternative allows a qualifying, consolidated collateralized financing entity to use the more observable of the fair value of the financial assets or the fair value of the financial liabilities adjusted by the carrying amount of non-financial assets, the fair value of any beneficial interests retained by the reporting entity (including those beneficial interest that represent compensation for services). Alternatively, if the measurement alternative is not elected for a qualifying, consolidated collateralized financing entity, this guidance requires that the financial assets and financial liabilities be measured in accordance with ASC Topic 820, and any difference in the fair value of the financial assets and the fair value of the financial liabilities would be reflected in earnings and attributed to the reporting entity in the consolidated statement of income (loss). This guidance is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted as of the beginning of an annual period. The Company is currently evaluating the effect of adoption.
	In June 2014, the FASB issued guidance that changes the accounting for repurchase-to-maturity transactions to secured borrowing accounting and requires separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement for repurchase arrangements. This amendment also requires additional disclosure for certain transactions comprising a transfer of a financial asset accounted for as a sale and an agreement with the same transferee entered into in contemplation of the initial transfer that results in the transferor retaining substantially all of the exposure to the economic return on the transferred financial asset throughout the term of the transaction. The Company adopted this accounting standards update on January 1, 2015. Upon adoption, the Company unlinked its previously linked transactions and disclosed affected asset, liability, income and expense balances at their gross values in its consolidated financial statements.
	In April 2014, the FASB issued guidance that changes the requirements for reporting discontinued operations. The amendments in this update require an entity to present, for each comparative period, the assets and liabilities of a disposal group that includes a discontinued operation separately in the asset and liability sections of the statement of financial position. The amendments in this update also require additional disclosures about discontinued operations and new disclosures for disposal transactions of individually significant components of an entity that do not meet the definition of a discontinued operation. Additionally, this guidance both permits and expands the disclosures about an entity’s significant continuing involvement with a discontinued operation. This guidance is effective for all disposals or classifications as held for sale of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted for disposals that have not been reported in financial statements previously issued or available for issuance. The Company early adopted the provisions of this guidance. Adoption did not have a material impact on the Company's consolidated financial statements.
	In January 2014, the FASB issued guidance that clarifies when a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan. Furthermore, the guidance requires interim and annual disclosure of the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. This guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Adoption did not have a material impact on the Company's consolidated financial statements.
Reclassifications	Reclassifications
	Certain reclassifications have been made to the 2014 consolidated financial statements to conform to the 2015 presentation.

VARIABLE_INTEREST_ENTITIES_Tab

VARIABLE INTEREST ENTITIES (Tables)	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following table shows the classification, carrying value and maximum exposure to loss with respect to the Company’s unconsolidated VIEs as of March 31, 2015 (in thousands):
		Unconsolidated Variable Interest Entities
		LCC		Unsecured			Resource		Total			Maximum
				Junior			Capital Asset					Exposure
				Subordinated			Management					to Loss
				Debentures			CDOs
	Investment in unconsolidated entities	$	39,469	$	1,548		$	—	$	41,017		$	41,017
	Intangible assets	—		—			8,990		8,990			$	8,990
	Total assets	39,469		1,548			8,990		50,007
	Borrowings	—		51,256			—		51,256			N/A
	Total liabilities	—		51,256			—		51,256			N/A
	Net asset (liability)	$	39,469	$	(49,708	)	$	8,990	$	(1,249	)	N/A
	The following table shows the classification and carrying value of assets and liabilities of the Company's consolidated VIEs as of March 31, 2015 (in thousands):
		Apidos I		Apidos			Apidos		Whitney CLO I			RREF		RREF		RCC CRE Notes 2013		RCC 2014-CRE2		RCC 2015-CRE3		Moselle		RCM Global, LLC			Total
				III			Cinco					2006-1		2007-1
	ASSETS
	Cash and cash equivalents	$	—	$	—		$	—	$	—		$	—	$	—	$	—	$	—	$	—	$	—	$	133		$	133
	Restricted cash (1)	76		4,519			17,227		116			18		250		2,514		—		5		537		$	—		25,262
	Investment securities available-for-sale, pledged as collateral, at fair value	—		2,856			10,891		—			5,777		57,930		—		—		—		—		17,204			94,658
	Loans, pledged as collateral	153		(79		)	223,524		—			125,373		199,987		204,181		350,362		341,635		—		—			1,445,136
	Loans held for sale	—		71,611			2,281		—			—		—		—		—		—		—		—			73,892
	Interest receivable	—		433			744		—			2,485		2,081		1,081		1,377		1,285		—		409			9,895
	Prepaid assets	—		15			40		—			47		48		43		—		—		—		—			193
	Principal paydown receivable	—		—			—		—			—		5,775		20,925		—		—		—		—			26,700
	Other Assets	—		—			—		—			—		—		—		9		—		—		(751		)	(742		)
	Total assets (2)	$	229	$	79,355		$	254,707	$	116		$	133,700	$	266,071	$	228,744	$	351,748	$	342,925	$	537	$	16,995		$	1,675,127
	LIABILITIES
	Borrowings	$	—	$	67,028		$	229,644	$	—		$	52,958	$	131,717	$	179,547	$	231,662	$	278,011	$	120	$	—		$	1,170,687
	Accrued interest expense	—		45			234		—			42		148		289		195		376		—		—			1,329
	Derivatives, at fair value	—		—			—		—			608		6,697		—		—		—		—		—			7,305
	Unsettled loan purchases	—		—			—		—			—		—		—		—		—		—		—			—
	Accounts payable and other liabilities	—		33			13		—			4		1		—		—		3		—		2			56
	Total liabilities	$	—	$	67,106		$	229,891	$	—		$	53,612	$	138,563	$	179,836	$	231,857	$	278,390	$	120	$	2		$	1,179,377
	(1)    Includes $2.8 million available for reinvestment in certain of the securitizations.
	(2)    Assets of each of the consolidated VIEs may only be used to settle the obligations of each respective VIE.
	(3)    In October 2013, the Company liquidated Apidos CLO VIII and all of the assets were sold. However, the Company still owns its share of beneficial interests that caused it to consolidate it.

SUPPLEMENTAL_CASH_FLOW_INFORMA1

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Schedule of Other Significant Noncash Transactions	Supplemental disclosure of cash flow information is summarized for the periods indicated (in thousands):
		Three Months Ended
		March 31,
		2015		2014
	Non-cash investing activities include the following:
	Conversion of linked transaction assets to CMBS (1)	$	48,605	$	—
	Non-cash financing activities include the following:
	Distributions on common stock declared but not paid	$	21,423	$	25,663
	Distributions on preferred stock declared but not paid	$	6,116	$	2,520
	Issuance of restricted stock	$	1,163	$	640
	Conversion of linked transaction liabilities to repurchase agreement borrowings (1)	$	33,377	$	—
	-1	As a result of an accounting standards update adopted on January 1, 2015 (see Note 2), the Company unlinked its previously linked transactions, resulting in non-cash increases in both its CMBS and related purchase borrowings balances.

INVESTMENT_SECURITIES_TRADING_

INVESTMENT SECURITIES TRADING (Tables)	3 Months Ended
	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Investment trading securities at fair value	The following table summarizes the Company's structured notes and RMBS that are classified as investment securities, trading and carried at fair value (in thousands). Structured notes are CLO debt securities collateralized by syndicated bank loans, and RMBS is a type of mortgage-backed debt obligation whose cash flows come from residential debt.
		Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
	As of March 31, 2015:
	Structured notes	$	30,308	$	2,063	$	(2,601	)	$	29,770
	RMBS	1,896		—		(1,896		)	—
	Total	$	32,204	$	2,063	$	(4,497	)	$	29,770
	As of December 31, 2014:
	Structured notes	$	22,876	$	1,098	$	(3,188	)	$	20,786
	RMBS	1,896		—		(1,896		)	—
	Total	$	24,772	$	1,098	$	(5,084	)	$	20,786

INVESTMENT_SECURITIES_AVAILABL1

INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Tables)	3 Months Ended
	Mar. 31, 2015
Available-for-sale Securities [Abstract]
Available-for-sale Securities	The following table summarizes the Company's sales of investment securities available-for-sale (in thousands, except number of securities):
		For the Three Months Ended
		Positions Sold		Par Amount Sold				Realized Gain (Loss)
	31-Mar-15
	ABS	4		$	9,411			$	2,669
	31-Mar-14
	CMBS	3		$	12,500			$	(298	)
	The following table summarizes the Company's investment securities, including those pledged as collateral and classified as available-for-sale, which are carried at fair value (in thousands):
		Amortized Cost (1)				Unrealized Gains				Unrealized Losses				Fair Value
	As of March 31, 2015:
	CMBS	$	188,052			$	6,450			$	(734	)		$	193,768
	RMBS	28,964				1,192				—				30,156
	ABS	45,889				12,233				(387		)		57,735
	Corporate bonds	2,417				14				(20		)		2,411
	Total	$	265,322			$	19,889			$	(1,141	)		$	284,070
	As of December 31, 2014:
	CMBS	$	168,669			$	4,938			$	(3,202	)		$	170,405
	RMBS	29,814				937				—				30,751
	ABS	55,617				16,876				(336		)		72,157
	Corporate bonds	2,415				10				(18		)		2,407
	Total	$	256,515			$	22,761			$	(3,556	)		$	275,720
	-1	As of March 31, 2015 and December 31, 2014, $162.0 million and $197.8 million, respectively, of investment securities available-for-sale were pledged as collateral under related financings.
Estimated maturities of available-for-sale securities	The following table summarizes the estimated maturities of the Company’s CMBS, RMBS, ABS and corporate bonds according to their estimated weighted average life classifications (in thousands, except percentages):
	Weighted Average Life	Fair Value				Amortized Cost				Weighted Average Coupon
	As of March 31, 2015:
	Less than one year	$	84,119		(1)	$	82,983			4.97%
	Greater than one year and less than five years	125,176				113,882				8.34%
	Greater than five years and less than ten years	16,808				14,358				10.86%
	Greater than ten years	57,967				54,099				6.50%
	Total	$	284,070			$	265,322			7.12%
	As of December 31, 2014:
	Less than one year	$	78,095		(1)	$	79,649			4.13%
	Greater than one year and less than five years	115,302				100,909				4.64%
	Greater than five years and less than ten years	20,177				17,516				16.45%
	Greater than ten years	62,146				58,441				7.86%
	Total	$	275,720			$	256,515			6.08%
	-1	The Company expects that the maturity dates of these CMBS and ABS will either be extended or that they will be paid in full.
Gross unrealized loss and fair value of securities	The following table shows the fair value, gross unrealized losses and number of securities aggregated by investment category and length of time, that individual investment securities available-for-sale have been in a continuous unrealized loss position during the periods specified (in thousands, except number of securities):
		Less than 12 Months											More than 12 Months							Total
		Fair				Unrealized Losses				Number			Fair			Unrealized Losses			Number	Fair		Unrealized Losses			Number
		Value								of			Value						of	Value					of
										Securities									Securities						Securities
	As of March 31, 2015:
	CMBS	$	25,380			$	(220	)		19			$	16,396		$	(514	)	12	$	41,776	$	(734	)	31
	ABS	197				(1		)		1			1,388			(386		)	9	1,585		(387		)	10
	Corporate bonds	1,447				(20		)		1			—			—			—	1,447		(20		)	1
	Total temporarily	$	27,024			$	(241	)		21			$	17,784		$	(900	)	21	$	44,808	$	(1,141	)	42
	impaired securities
	As of December 31, 2014:
	CMBS	$	35,860			$	(555	)		22			$	25,583		$	(2,647	)	13	$	61,443	$	(3,202	)	35
	ABS	1,000				(278		)		8			958			(58		)	3	1,958		(336		)	11
	Corporate bonds	1,447				(18		)		1			—			—			—	1,447		(18		)	1
	Total temporarily	$	38,307			$	(851	)		31			$	26,541		$	(2,705	)	16	$	64,848	$	(3,556	)	47
	impaired securities

LOANS_Tables

LOANS (Tables)	3 Months Ended
	Mar. 31, 2015
LOANS HELD FOR INVESTMENT [Abstract]
Summary of loans held for Investments	The following is a summary of the Company’s loans (in thousands):
	Loan Description		Principal				Unamortized (Discount)			Carrying
							Premium, net (1)			Value (2)
	As of March 31, 2015:
	Commercial real estate loans:
	Whole loans		$	1,370,303			$	(7,921	)	$	1,362,382
	B notes		16,070				(39		)	16,031
	Mezzanine loans		67,535				(64		)	67,471
	Total commercial real estate loans		1,453,908				(8,024		)	1,445,884
	Bank loans		225,216				(899		)	224,317
	Middle market loans		295,478				(685		)	294,793
	Residential mortgage loans, held for investment		2,641				—			2,641
	Subtotal loans before allowances		1,977,243				(9,608		)	1,967,635
	Allowance for loan loss		(7,385		)		—			(7,385		)
	Total loans held for investment, net of allowances		1,969,858				(9,608		)	1,960,250
	Bank loans held for sale		73,892				—			73,892
	Residential mortgage loans held for sale, at fair value (3)		174,559				(197		)	174,362
	Total loans held for sale		248,451				(197		)	248,254
	Total loans, net		$	2,218,309			$	(9,805	)	$	2,208,504
	As of December 31, 2014:
	Commercial real estate loans:
	Whole loans		$	1,271,121			$	(7,529	)	$	1,263,592
	B notes		16,120				(48		)	16,072
	Mezzanine loans		67,446				(80		)	67,366
	Total commercial real estate loans		1,354,687				(7,657		)	1,347,030
	Bank loans		332,058				(1,410		)	330,648
	Middle market loans		250,859				(746		)	250,113
	Residential mortgage loans, held for investment		2,802				—			2,802
	Subtotal loans before allowances		1,940,406				(9,813		)	1,930,593
	Allowance for loan loss		(4,613		)		—			(4,613		)
	Total loans held for investment, net of allowances		1,935,793				(9,813		)	1,925,980
	Bank loans held for sale		282				—			282
	Residential mortgage loans held for sale, at fair value (3)		111,454				—			111,454
	Total loans held for sale		111,736				—			111,736
	Total loans, net		$	2,047,529			$	(9,813	)	$	2,037,716
	-1	Amounts include deferred amendment fees of $110,000 and $88,000 and deferred upfront fees of $68,000 and $82,000 being amortized over the life of the bank loans as of March 31, 2015 and December 31, 2014, respectively.  Amounts also include loan origination fees of $8.0 million and $7.6 million as of March 31, 2015 and December 31, 2014, respectively.
	-2	Substantially all loans are pledged as collateral under various borrowings at March 31, 2015 and December 31, 2014, respectively.
	-3	Residential mortgage loans held for sale, at fair value, consisted of $58.3 million and $116.1 million of agency-conforming and jumbo mortgage loans, respectively, as of March 31, 2015. Residential mortgage loans held for sale, at fair value, consisted of $28.9 million and $82.6 million of agency-conforming and jumbo mortgage loans, respectively, as of December 31, 2014. Unamortized discount includes an unrealized mark to market loss of $197,000 as of March 31, 2015.
	The following is a summary of the Company’s commercial real estate loans held for investment (in thousands):
	Description		Quantity		Amortized Cost				Contracted	Maturity Dates(3)
									Interest Rates
	As of March 31, 2015:
	Whole loans, floating rate (1) (4) (5)		74		$	1,362,382			LIBOR plus 1.75% to	May 2015 to
									LIBOR plus 15.00%	Feb-19
	B notes, fixed rate		1		16,031				8.68%	Apr-16
	Mezzanine loans, floating rate		1		12,659				LIBOR plus 15.32%	Apr-16
	Mezzanine loans, fixed rate (6)		3		54,812				0.50% to 18.71%	January 2016 to
										Sep-19
	Total (2)		79		$	1,445,884
	As of December 31, 2014:
	Whole loans, floating rate(1) (4) (5)		73		$	1,263,592			LIBOR plus 1.75% to	May 2015 to
									LIBOR plus 15.00%	Feb-19
	B notes, fixed rate		1		16,072				8.68%	Apr-16
	Mezzanine loans, floating rate		1		12,558				LIBOR plus 15.32%	Apr-16
	Mezzanine loans, fixed rate (6)		3		54,808				0.50% to 18.71%	January 2016 to
										Sep-19
	Total (2)		78		$	1,347,030
	-1	Whole loans had $96.8 million and $105.1 million in unfunded loan commitments as of March 31, 2015 and December 31, 2014, respectively.  These unfunded commitments are advanced as the borrowers formally request additional funding as permitted under the loan agreement and any necessary approvals have been obtained.
	-2	The total does not include an allowance for loan loss of $4.0 million and $4.0 million as of March 31, 2015 and December 31, 2014, respectively.
	-3	Maturity dates do not include possible extension options that may be available to the borrowers.
	-4	Floating rate loans include two whole loans with a combined $12.0 million mezzanine component that have fixed rates of 12.0%, and two whole loans with a combined $4.2 million mezzanine component that have fixed rates of 15.0%, as of March 31, 2015 and December 31, 2014.
	-5	Floating rate whole loans include a $799,000 junior mezzanine tranche of a whole loan that has a fixed rate of 10.0% as of March 31, 2015 and December 31, 2014.
	-6	Fixed rate mezzanine loans include a mezzanine loan that was modified into two tranches, which both currently pay interest at 0.50%. In addition, the subordinate tranche accrues interest at LIBOR plus 18.50% which is deferred until maturity.
Summary of the weighted average life of bank loans at amortized cost	The following is a summary of the weighted average maturity of the Company’s bank loans, at amortized cost and loans held-for-sale, at the lower of cost or market (in thousands):
		March 31,				December 31,
		2015				2014
	Less than one year	$	1,625			$	7,829
	Greater than one year and less than five years	282,658				274,332
	Five years or greater	13,926				48,769
		$	298,209			$	330,930
	The following is a summary of the weighted average maturity of the Company’s middle market loans, at amortized cost (in thousands):
		March 31,				December 31,
		2015				2014
	Less than one year	$	—			$	—
	Greater than one year and less than five years	158,183				132,353
	Five years or greater	136,610				117,760
		$	294,793			$	250,113
Summary of the weighted average life of the commercial real estate loans at amortized cost	The following is a summary of the weighted average maturity of the Company’s commercial real estate loans, at amortized cost (in thousands):
	Description		2015				2016			2017 and Thereafter			Total
	As of March 31, 2015
	B notes		$	—			$	16,031		$	—		$	16,031
	Mezzanine loans		—				16,739			50,732			67,471
	Whole loans		—				27,678			1,334,704			1,362,382
	Total (1)		$	—			$	60,448		$	1,385,436		$	1,445,884
	As of December 31, 2014:		2015				2016			2017 and Thereafter			Total
	B notes		$	—			$	16,072		$	—		$	16,072
	Mezzanine loans		—				16,736			50,630			67,366
	Whole loans		—				27,665			1,235,927			1,263,592
	Total (1)		$	—			$	60,473		$	1,286,557		$	1,347,030
	-1	Weighted average maturity of commercial real estate loans assumes full exercise of extension options available to borrowers.
Allocation of allowance for loan loss	The following is a summary of the allocation of the allowance for loan loss with respect to the Company's loans (in thousands, except percentages) by asset class:
	Description		Allowance for				Percentage of Total Allowance
			Loan Loss
	As of March 31, 2015:
	B notes		$	22			0.30%
	Mezzanine loans		98				1.33%
	Whole loans		3,923				53.12%
	Bank loans		720				9.75%
	Middle market loans		2,512				34.01%
	Residential mortgage loans		110				1.49%
	Total		$	7,385
	As of December 31, 2014:
	B notes		$	55			1.19%
	Mezzanine loans		230				4.99%
	Whole loans		3,758				81.47%
	Bank loans		570				12.36%
	Total		$	4,613

INVESTMENTS_IN_UNCONSOLIDATED_1

INVESTMENTS IN UNCONSOLIDATED ENTITIES (Tables)	3 Months Ended
	Mar. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Unconsolidated Entities	The following table shows the Company's investments in unconsolidated entities as of March 31, 2015 and December 31, 2014 and equity in net earnings (losses) of unconsolidated subsidiaries for the three months ended March 31, 2015 and 2014 (in thousands):
							Equity in Net Earnings (Losses) of Unconsolidated subsidiaries
			Balance as of		Balance as of		For the		For the
							three months ended		three months
									ended
		Ownership %	March 31,		December 31,		March 31,		March 31,
			2015		2014		2015		2014
	Varde Investment Partners, L.P	7.50%	$	654	$	654	$	—	$	(1	)
	RRE VIP Borrower, LLC (1)	3% to 5%	—		—		46		866
	Investment in LCC Preferred Stock	28.40%	39,469		39,416		52		(594		)
	Investment in CVC Global Credit Opportunities Fund	20.60%	13,817		18,209		608		834
	Investment in	50.20%	—		—		—		(75		)
	Life Care Funding (2)
	Investment in School Lane House (1)		—		—		—		984
	Subtotal		53,940		58,279		706		2,014
	Investment in RCT I and II (3)	3%	1,548		1,548		593		589
	Investment in Preferred Equity (1) (4)		—		—		—		1,228
	Total		$	55,488	$	59,827	$	1,299	$	3,831
	-1	Investment in School Lane House, Investment in RRE VIP Borrower and the Investment in Preferred Equity were sold or repaid as of December 31, 2014.
	-2	In January 2013, LTCC invested $2.0 million into LCF for the purpose of originating and acquiring life settlement contracts. In February 2014, the Company invested an additional $1.4 million which resulted in the consolidation of LCF during the first quarter of 2014. Ownership percentage represents ownership after consolidation.
	-3	For the three months ended March 31, 2015 and 2014, these amounts are recorded in interest expense on the Company's consolidated statements of income.
	-4	For the three months ended March 31, 2014, these amounts are recorded in interest income on loans on the Company's consolidated statements of income.

FINANCING_RECEIVABLES_Tables

FINANCING RECEIVABLES (Tables)	3 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
Allowance for loan losses and recorded investments in loans	The following tables show the allowance for loan losses and recorded investments in loans for the years indicated (in thousands):
		Commercial Real Estate Loans				Bank Loans				Middle Market Loans			Residential Mortgage Loans			Loans Receivable-Related Party			Total
	As of March 31, 2015:
	Allowance for Loan Losses:
	Allowance for losses at January 1, 2015	$	4,043			$	570			$	—		$	—		$	—		$	4,613
	Provision (recovery) for loan losses	—				1,415				2,566			197			(188		)	3,990
	Loans charged-off	—				(1,265		)		(54		)	(197		)	188			(1,328		)
	Recoveries	—				—				—			110			—			110
	Allowance for losses at March 31, 2015	$	4,043			$	720			$	2,512		$	110		$	—		$	7,385
	Ending balance:
	Individually evaluated for impairment	$	2,202			$	86			$	2,512		$	—		$	—		$	4,800
	Collectively evaluated for impairment	$	1,841			$	634			$	—		$	110		$	—		$	2,585
	Loans acquired with deteriorated credit quality	$	—			$	—			$	—		$	—		$	—		$	—
	Loans:
	Ending balance: (1)
	Individually evaluated for impairment	$	166,180			$	215			$	294,793		$	—		$	1,229		$	462,417
	Collectively evaluated for impairment	$	1,279,704			$	297,994			$	—		$	2,641		$	—		$	1,580,339
	Loans acquired with deteriorated credit quality	$	—			$	—			$	—		$	—		$	—		$	—
	As of December 31, 2014:
	Allowance for Loan Losses:
	Allowance for losses at January 1, 2014	$	10,416			$	3,391			$	—		$	—		$	—		$	13,807
	Provision for loan losses	(3,758		)		4,173				92			—			1,297			1,804
	Loans charged-off	(2,615		)		(6,994		)		(92		)	—			(1,297		)	(10,998		)
	Allowance for losses at December 31, 2014	$	4,043			$	570			$	—		$	—		$	—		$	4,613
	Ending balance:
	Individually evaluated for impairment	$	—			$	570			$	—		$	—		$	—		$	570
	Collectively evaluated for impairment	$	4,043			$	—			$	—		$	—		$	—		$	4,043
	Loans acquired with deteriorated credit quality	$	—			$	—			$	—		$	—		$	—		$	—
	Loans:
	Ending balance: (1)
	Individually evaluated for impairment	$	166,180			$	1,350			$	250,113		$	—		$	1,277		$	418,920
	Collectively evaluated for impairment	$	1,180,850			$	329,580			$	—		$	2,802		$	—		$	1,513,232
	Loans acquired with deteriorated credit quality	$	—			$	—			$	—		$	—		$	—		$	—
	-1	Loan balances as of March 31, 2015 and December 31, 2014 include loans held for sale.
Credit quality indicators for Bank loans and Commercial real estate loans	Credit risk profiles of commercial real estate loans were as follows (in thousands):
		Rating 1				Rating 2				Rating 3			Rating 4			Held for Sale			Total
	As of March 31, 2015
	Whole loans	$	1,329,882			$	32,500			$	—		$	—		$	—		$	1,362,382
	B notes	16,031				—				—			—			—			16,031
	Mezzanine loans	45,417				22,054				—			—			—			67,471
		$	1,391,330			$	54,554			$	—		$	—		$	—		$	1,445,884
	As of December 31, 2014:
	Whole loans	$	1,231,092			$	32,500			$	—		$	—		$	—		$	1,263,592
	B notes	16,072				—				—			—			—			16,072
	Mezzanine loans	45,432				21,934				—			—			—			67,366
		$	1,292,596			$	54,434			$	—		$	—		$	—		$	1,347,030
	Credit risk profiles of middle market loans were as follows (in thousands):
		Rating 1				Rating 2				Rating 3			Rating 4			Rating 5			Held for Sale			Total
	As of March 31, 2015:
	Middle market loans	$	—			$	284,937			$	4,900		$	—		$	4,956		$	—		$	294,793
	As of December 31, 2014:
	Middle market loans	$	—			$	240,245			$	9,868		$	—		$	—		$	—		$	250,113
	Credit risk profiles of bank loans were as follows (in thousands):
		Rating 1				Rating 2				Rating 3			Rating 4			Rating 5			Held for Sale			Total
	As of March 31, 2015:
	Bank loans	$	200,966			$	16,081			$	5,257		$	1,798		$	215		$	73,892		$	298,209
	As of December 31, 2014:
	Bank loans	$	291,214			$	32,660			$	5,424		$	—		$	1,350		$	282		$	330,930
Loan portfolios aging analysis	The following table shows the loan portfolio aging analysis as of the dates indicated at amortized cost (in thousands):
		30-59 Days				60-89 Days				Greater than 90 Days			Total Past Due			Current			Total Loans Receivable			Total Loans > 90 Days and Accruing
	As of March 31, 2015:
	Whole loans	$	—			$	—			$	—		$	—		$	1,362,382		$	1,362,382		$	—
	B notes	—				—				—			—			16,031			16,031			—
	Mezzanine loans	—				—				—			—			67,471			67,471			—
	Bank loans (1)	—				—				215			215			297,994			298,209			—
	Middle market loans	—				—				—			—			294,793			294,793			—
	Residential mortgage loans (2)	420				—				88			508			176,692			177,200			—
	Loans receivable- related party	—				—				—			—			1,229			1,229			—
	Total loans	$	420			$	—			$	303		$	723		$	2,216,592		$	2,217,315		$	—
	As of December 31, 2014:
	Whole loans	$	—			$	—			$	—		$	—		$	1,263,592		$	1,263,592		$	—
	B notes	—				—				—			—			16,072			16,072			—
	Mezzanine loans	—				—				—			—			67,366			67,366			—
	Bank loans (1)	—				—				1,350			1,350			329,580			330,930			—
	Middle market loans	—				—				—			—			250,113			250,113			—
	Residential mortgage loans (2)	443				82				119			644			113,612			114,256			—
	Loans receivable- related party	—				—				—			—			1,277			1,277			—
	Total loans	$	443			$	82			$	1,469		$	1,994		$	2,041,612		$	2,043,606		$	—
	-1	Contains $73.9 million and $282,000 of bank loans held for sale at March 31, 2015 and December 31, 2014, respectively.
	-2	Contains $174.6 million and $111.5 million of residential mortgage loans held for sale at March 31, 2015 and December 31, 2014, respectively.
Impaired loans	The following tables show impaired loans as of the dates indicated (in thousands):
		Recorded Balance				Unpaid Principal Balance				Specific Allowance			Average Investment in Impaired Loans			Interest Income Recognized
	As of March 31, 2015:
	Loans without a specific valuation allowance:
	Whole loans	$	128,108			$	128,108			$	—		$	130,445		$	13,617
	B notes	$	—			$	—			$	—		$	—		$	—
	Mezzanine loans	$	38,072			$	38,072			$	—		$	38,072		$	3,186
	Bank loans	$	—			$	—			$	—		$	—		$	—
	Middle market loans	$	—			$	—			$	—		$	—		$	—
	Residential mortgage loans	$	2,641			$	2,641			$	—		$	2,641		$	21
	Loans receivable - related party	$	—			$	—			$	—		$	—		$	—
	Loans with a specific valuation allowance:
	Whole loans	$	—			$	—			$	—		$	—		$	—
	B notes	$	—			$	—			$	—		$	—		$	—
	Mezzanine loans	$	—			$	—			$	—		$	—		$	—
	Bank loans	$	215			$	215			$	(86	)	$	—		$	—
	Middle market loans	$	4,956			$	4,956			$	(2,512	)	$	—		$	—
	Residential mortgage loans	$	—			$	—			$	—		$	—		$	—
	Loans receivable - related party	$	—			$	—			$	—		$	—		$	—
	Total:
	Whole loans	$	128,108			$	128,108			$	—		$	130,445		$	13,617
	B notes	—				—				—			—			—
	Mezzanine loans	38,072				38,072				—			38,072			3,186
	Bank loans	215				215				(86		)	—			—
	Middle market loans	4,956				4,956				(2,512		)	—			—
	Residential mortgage loans	2,641				2,641				—			2,641			21
	Loans receivable - related party	—				—				—			—			—
		$	173,992			$	173,992			$	(2,598	)	$	171,158		$	16,824
	As of December 31, 2014:
	Loans without a specific valuation allowance:
	Whole loans	$	128,108			$	128,108			$	—		$	130,445		$	12,679
	B notes	$	—			$	—			$	—		$	—		$	—
	Mezzanine loans	$	38,072			$	38,072			$	—		$	38,072		$	2,859
	Bank loans	$	—			$	—			$	—		$	—		$	—
	Middle market loans	$	—			$	—			$	—		$	—		$	—
	Residential mortgage loans	$	2,082			$	2,082			$	—		$	2,082		$	148
	Loans receivable - related party	$	—			$	—			$	—		$	—		$	—
	Loans with a specific valuation allowance:
	Whole loans	$	—			$	—			$	—		$	—		$	—
	B notes	$	—			$	—			$	—		$	—		$	—
	Mezzanine loans	$	—			$	—			$	—		$	—		$	—
	Bank loans	$	1,350			$	1,350			$	(570	)	$	—		$	—
	Middle market loans	$	—			$	—			$	—		$	—		$	—
	Residential mortgage loans	$	—			$	—			$	—		$	—		$	—
	Loans receivable - related party	$	—			$	—			$	—		$	—		$	—
	Total:
	Whole loans	$	128,108			$	128,108			$	—		$	130,445		$	12,679
	B notes	—				—				—			—			—
	Mezzanine loans	38,072				38,072				—			38,072			2,859
	Bank loans	1,350				1,350				(570		)	—			—
	Middle market loans	—				—				—			—			—
	Residential mortgage loans	2,082				2,082				—			2,082			148
	Loans receivable - related party	—				—				—			—			—
		$	169,612			$	169,612			$	(570	)	$	170,599		$	15,686
Troubled debt restructurings on financing receivables	The following tables show troubled-debt restructurings in the Company's loan portfolio (in thousands):
		Number of Loans		Pre-Modification Outstanding Recorded Balance				Post-Modification Outstanding Recorded Balance
	Three Months Ended March 31, 2015:
	Whole loans	2		$	67,459			$	67,459
	B notes	—		—				—
	Mezzanine loans	—		—				—
	Bank loans	—		—				—
	Middle market loans	—		—				—
	Residential mortgage loans	—		—				—
	Loans receivable - related party	—		—				—
	Total loans	2		$	67,459			$	67,459

INTANGIBLE_ASSETS_Tables

INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of intangible assets	The following table summarizes intangible assets (in thousands):
		Asset Balance			Accumulated Amortization			Net Asset
	As of March 31, 2015:
	Investment in RCAM	$	21,213		$	(12,223	)	$	8,990
	Investments in PCM:
	Wholesale or correspondent relationships	600			(361		)	239
	Total intangible assets	$	21,813		$	(12,584	)	$	9,229
	As of December 31, 2014:
	Investment in RCAM	$	21,213		$	(11,779	)	$	9,434
	Investments in PCM:
	Wholesale or correspondent relationships	600			(298		)	302
	Total intangible assets	$	21,813		$	(12,077	)	$	9,736
Schedule loan servicing portfolio	The activity in the loan servicing portfolio associated with capitalized servicing rights consisted of (in thousands):
		March 31,			December 31,
		2015			2014
	Balance, beginning of period	$	894,767		$	433,153
	Additions	212,390			519,915
	Payoffs, sales and curtailments	53,151			(58,301		)
	Balance, end of period	$	1,160,308		$	894,767
	The activity in capitalized MSRs is recorded in other assets and consists of the followings (in thousands):
		March 31,			December 31,
		2015			2014
	Balance, beginning of period	$	9,374		$	4,885
	Amortization	(825		)	(1,957		)
	Additions	2,936			6,446
	Sales	—			—
	Balance, end of period	11,485			9,374
	Temporary fair value adjustment	(1,050		)	—
	Balance, end of period	$	10,435		$	9,374
Servicing fees	The value of MSRs is driven by the net positive, or in some cases net negative, cash flows associated with servicing activities.  These cash flows include contractually specified servicing fees, late fees and other ancillary servicing revenue and were recorded within fee income as follows (in thousands):
		For the Three Months Ended
		March 31,
		2015			2014
	Servicing fees from capitalized portfolio	$	551		$	308
	Late fees	$	23		$	22
	Other ancillary servicing revenue	$	3		$	4

BORROWINGS_Tables

BORROWINGS (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Instrument [Line Items]
Information with Respect to Borrowings	Certain information with respect to the Company’s borrowings is summarized in the following table (in thousands, except percentages):
		Principal				Unamortized Issuance Costs and Discounts				Outstanding Borrowings				Weighted Average		Weighted Average	Value of
		Outstanding												Borrowing Rate		Remaining	Collateral
																Maturity
	As of March 31, 2015:
	RREF CDO 2006-1 Senior Notes	$	52,957			$	—			$	52,957			2.31%		31.4 years	$	130,727
	RREF CDO 2007-1 Senior Notes	131,780				63				131,717				1.14%		31.5 years	258,175
	RCC CRE Notes 2013 Senior Notes	182,040				2,493				179,547				2.28%		13.7 years	205,386
	RCC 2014-CRE2 Senior Notes	235,344				3,682				231,662				1.47%		17.1 years	349,063
	RCC 2015-CRE3 Senior Notes	282,127				4,116				278,011				2.07%		17.0 years	339,654
	Apidos CDO III Senior Notes	67,028				—				67,028				1.28%		5.5 years	78,957
	Apidos Cinco CDO Senior Notes	229,716				72				229,644				0.87%		5.1 years	252,826
	Moselle CLO S.A. Securitized Borrowings, at fair value (1)	120				—				120				N/A		N/A	537
	Unsecured Junior Subordinated Debentures (2)	51,548				292				51,256				4.21%		21.6 years	—
	6.0% Convertible Senior Notes	115,000				6,182				108,818				6.00%		3.7 years	—
	8.0% Convertible Senior Notes	100,000				7,052				92,948				8.00%		4.8 years	—
	CRE - Term Repurchase Facilities (3)	93,734				1,583				92,151				2.21%		18 days	135,951
	CMBS - Term Repurchase Facility (4)	29,391				—				29,391				1.37%		18 days	35,977
	Residential Investments - Term Repurchase Facility	104,547				125				104,422				2.43%		25 days	121,472
	Residential Mortgage Financing Agreements	74,648				—				74,648				2.78%		130 days	95,479
	CMBS - Short Term Repurchase Agreements (5)	67,785				—				67,785				1.63%		18 days	94,857
	Senior Secured Revolving Credit Agreement	135,000				2,507				132,493				2.68%		2.5 years	292,453
	Total	$	1,952,765			$	28,167			$	1,924,598			2.46%		10.8 years	$	2,391,514
		Principal				Unamortized Issuance Costs and Discounts				Outstanding Borrowings				Weighted Average		Weighted Average	Value of
		Outstanding												Borrowing Rate		Remaining	Collateral
																Maturity
	As of December 31, 2014:
	RREF CDO 2006-1 Senior Notes	$	61,423			$	—			$	61,423			2.12%		31.6 years	$	139,242
	RREF CDO 2007-1 Senior Notes	130,340				133				130,207				1.19%		31.8 years	271,423
	RCC CRE Notes 2013 Senior Notes	226,840				2,683				224,157				2.11%		14.0 years	249,983
	RCC 2014-CRE2 Senior Notes	235,344				3,687				231,657				1.45%		17.3 years	346,585
	Apidos CDO III Senior Notes	74,646				—				74,646				1.18%		5.7 years	85,553
	Apidos Cinco CDO Senior Notes	255,664				201				255,463				0.81%		5.4 years	272,512
	Moselle CLO S.A. Senior Notes, at fair value (6)	63,321				—				63,321				1.49%		5.0 years	93,576
	Moselle CLO S.A. Securitized Borrowings, at fair value (1)	5,619				—				5,619				1.49%		5.0 years	—
	Unsecured Junior	51,548				343				51,205				4.19%		21.8 years	—
	Subordinated Debentures (2)
	6.0% Convertible Senior Notes	115,000				6,626				108,374				6.00%		3.9 years	—
	CRE - Term Repurchase Facilities (3)	207,640				1,958				205,682				2.43%		20 days	297,571
	CMBS - Term Repurchase Facility (4)	24,967				—				24,967				1.35%		20 days	30,180
	Residential Investments - Term Repurchase Facility (6)	22,248				36				22,212				1.16%		1 day	27,885
	Residential Mortgage Financing Agreements (7)	102,576				—				102,576				2.78%		207 days	147,472
	CMBS - Short Term Repurchase Agreements (5)	44,225				—				44,225				1.63%		17 days	62,446
	Senior Secured Revolving Credit Agreement	113,500				2,363				111,137				2.66%		2.7 years	262,687
	Total	$	1,734,901			$	18,030			$	1,716,871			2.09%		10.0 years	$	2,287,115
	-1	The securitized borrowings were collateralized by the same assets as the Moselle CLO Senior Notes.
	-2	Amount represents junior subordinated debentures issued to RCT I and RCT II in May 2006 and September 2006, respectively.
	-3	Amounts also include accrued interest expense of $75,000 and $198,000 related to CRE repurchase facilities as of March 31, 2015 and December 31, 2014, respectively.
	-4	Amounts also include accrued interest expense of $13,000 and $12,000 related to CMBS repurchase facilities as of March 31, 2015 and December 31, 2014, respectively. Amounts do not reflect CMBS repurchase agreement borrowings that are components of linked transactions as of December 31, 2014.
	-5	Amounts also includes accrued interest expense of $39,000 and $31,000 related to CMBS short term repurchase facilities as of March 31, 2015 and December 31, 2014.
	-6	The fair value option was elected for the borrowings associated with Moselle CLO. As such, the outstanding borrowings and principal outstanding amounts are stated at fair value. The unpaid principal amounts of these borrowings were $63.3 million at December 31, 2014.
	-7	Amount also includes interest expenses of $20,000 related to residential investment repurchase facilities as of December 31, 2014,
Schedule of Securitizations	The following table sets forth certain information with respect to the Company's securitizations:
	Securitization		Closing Date		Maturity Dates		Reinvestment Period End		Total Note Paydowns as of March 31, 2015
									(in millions)
	RREF CDO 2006-1 Senior Notes		Aug-06		Aug-46		Sep-11		$	194.2
	RREF CDO 2007-1 Senior Notes		Jun-07		Sep-46		Jun-12		$	209.2
	RCC CRE Notes 2013 Senior Notes		Dec-13		Dec-28		N/A		$	78.8
	RCC 2014-CRE2 Senior Notes		Jul-14		Apr-32		N/A		$	—
	RCC 2015-CRE3 Senior Notes		Feb-15		Mar-32		N/A		$	—
	Apidos CDO III Senior Notes		May-06		Sep-20		Jun-12		$	195.5
	Apidos Cinco CDO Senior Notes		May-07		May-20		May-14		$	92.3
	Moselle CLO S.A. Securitized Borrowings		Oct-05		Jan-20		Jan-12		$	5
Schedule of Linked Transactions	The assets in the following table were accounted for as linked transactions as of December 31, 2014. These linked repurchase agreements are not included in borrowings on the Company's consolidated balance sheets (see Note 20).
			As of December 31, 2014
			Borrowings				Value of Collateral				Number		Weighted Average
			Under Linked				Under Linked				of Positions		Interest Rate
			Transactions (1)				Transactions				as Collateral		of Linked
											Under Linked		Transactions
											Transactions
	CMBS Term
	Repurchase Facility
	Wells Fargo Bank		$	4,941			$	6,371			7		1.67%
	Short-Term Repurchase
	Agreements - CMBS
	JP Morgan Securities, LLC		—				—				—		—%
	Wells Fargo Securities, LLC		4,108				6,233				2		1.37%
	Deutsche Bank Securities, LLC		24,348				36,001				10		1.57%
	Totals		$	33,397			$	48,605
Schedule of Amount at Risk under Credit Facility	The following table shows information about the amount at risk under the repurchase facilities (dollars in thousands):
		Amount at				Weighted Average		Weighted Average
		Risk (1)				Maturity in Days		Interest Rate
	As of March 31, 2015:
	CMBS Term Repurchase Facility
	Wells Fargo Bank, National Association	$	6,176			18		1.37%
	Residential Investments Term Repurchase Facility
	Wells Fargo Bank, National Association	$	16,804			25		2.43%
	CRE Term Repurchase Facilities
	Wells Fargo Bank, National Association	$	42,763			18		2.21%
	Short-Term Repurchase Agreements - CMBS
	Wells Fargo Securities, LLC	$	8,964			6		1.59%
	Deutsche Bank Securities, LLC	$	17,452			21		1.62%
	Residential Mortgage Financing Agreements
	Wells Fargo Bank	$	13,561			93		2.75%
	New Century Bank	$	7,270			152		2.80%
	As of December 31, 2014:
	CMBS Term Repurchase Facility
	Wells Fargo Bank, National Association	$	6,486			20		1.35%
	Residential Investments Term Repurchase Facility
	Wells Fargo Bank, National Association	$	5,017			1		1.16%
	CRE Term Repurchase Facilities
	Wells Fargo Bank, National Association	$	76,148			20		2.38%
	Deutsche Bank Securities, LLC	$	13,017			19		2.78%
	Short-Term Repurchase Agreements - CMBS
	Wells Fargo Securities, LLC	$	2,127			9		1.66%
	Deutsche Bank Securities, LLC	$	11,810			20		1.62%
	Residential Mortgage Financing Agreements	$	853			242		2.82%
	New Century Bank	$	6,902			183		2.75%
	Wells Fargo Bank
	-1	Equal to the estimated fair value of securities or loans sold, plus accrued interest income, minus the sum of repurchase agreement liabilities plus accrued interest expense.
CRE - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Repurchase and Mortgage Finance Facilities	The following table sets forth certain information with respect to the Company's borrowings (dollars in thousands):
		As of March 31, 2015												As of December 31, 2014
		Outstanding				Value of				Number of		Weighted Average		Outstanding			Value of		Number of	Weighted Average
		Borrowings				Collateral				Positions		Interest Rate		Borrowings			Collateral		Positions	Interest Rate
										as Collateral									as Collateral
	CMBS Term
	Repurchase Facility
	Wells Fargo Bank	$	29,391			$	35,977			34		1.37%		$	24,967		$	30,180	33	1.35%
	CRE Term
	Repurchase Facilities
	Wells Fargo Bank (1)	92,296				135,951				5		2.21%		179,762			258,223		15	2.38%
	Deutsche Bank AG (2)	(145		)		—				—		—%		25,920			39,348		2	2.78%
	Short-Term Repurchase
	Agreements - CMBS
	Deutsche Bank Securities, LLC	53,249				70,928				8		1.62%		33,783			44,751		8	1.62%
	Wells Fargo Securities, LLC	14,536				23,929				1		1.59%		10,442			17,695		1	1.66%
	Residential Investments Term
	Repurchase Facility
	Wells Fargo Bank (3)	104,422				121,472				146		2.43%		22,212			27,885		6	1.16%
	Residential Mortgage
	Financing Agreements
	New Century Bank	46,419				53,689				231		2.80%		41,387			51,961		158	2.82%
	Wells Fargo Bank	28,229				41,790				78		2.75%		61,189			95,511		104	2.75%
	Totals	$	368,397			$	483,736							$	399,662		$	565,554
	-1	The Wells Fargo CRE term repurchase facility borrowing includes $1.4 million and $1.7 million of deferred debt issuance costs as of March 31, 2015 and December 31, 2014, respectively.
	-2	The Deutsche Bank term repurchase facility includes $145,000 and $268,000 of deferred debt issuance costs as of March 31, 2015 and December 31, 2014, respectively.
	-3	The Wells Fargo residential investments term repurchase facility includes $125,000 and $36,000 of deferred debt issuance costs as of March 31, 2015 and December 31, 2014, respectively.

SHARE_ISSUANCE_AND_REPURCHASE_

SHARE ISSUANCE AND REPURCHASE (Tables)	3 Months Ended
	Mar. 31, 2015
Stockholders' Equity Note [Abstract]
Schedule of Stock by Class, Issues
		Three Months Ended March 31, 2015			Total Outstanding
		Number of Shares	Weighted Average Offering Price		Number of Shares	Weighted Average Offering Price
	8.50% Series A Preferred Stock	—	$	—	1,069,016	$	24.05
	8.25% Series B Preferred Stock	139,333	$	22.34	5,740,479	$	23.81
	8.625% Series C Preferred Stock	—	$	—	4,800,000	$	25

SHAREBASED_COMPENSATION_Tables

SHARE-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of restricted common stock transactions	The following table summarizes restricted common stock transactions:
		Non-Employee Directors		Non-Employees			Employees		Total
	Unvested shares as of January 1, 2015	49,203		1,812,853			161,583		2,023,639
	Issued	47,087		1,001,459			115,271		1,163,817
	Vested	(37,786	)	(340,636	)		(7,439	)	(385,861	)
	Forfeited	—		—			(1,271	)	(1,271	)
	Unvested shares as of March 31, 2015	58,504		2,473,676			268,144		2,800,324
Schedule of restricted stock granted	The following table summarizes the restricted common stock grants during the three months ended March 31, 2015:
	Date		Shares (2)	Vesting/Year		Date(s)
	February 3, 2015		7,276	100%		2/3/16
	February 5, 2015		966,095	33.30%		2/5/16, 2/5/17, 2/5/18
	February 5, 2015		115,271	33.30%		2/5/16, 2/5/17, 2/5/18
	March 9, 2015		32,186	100%		3/9/16
	March 12, 2015		7,625	100%		3/12/16
	March 31, 2015		35,364	100%		5/15/16 (1)
	-1	In connection with a grant of restricted common stock made on September 24, 2014, the Company agreed to issue up to 70,728 additional shares of common stock if certain loan origination performance thresholds were achieved by personnel from the Company’s loan origination team.  The performance criteria are measured at the end of two annual measurement periods beginning April 1, 2014.  The agreement also provided dividend equivalent rights pursuant to which the dividends that would have been paid on the shares had they been issued on the date of grant were paid at the end of each annual measurement period if the performance criteria were met.  If the performance criteria are not met, the accrued dividends will be forfeited.  As a consequence, the Company will not record the dividend equivalent rights until earned.  On March 31, 2015, the first annual measurement period ended and 35,364 shares were earned. These shares will vest over the subsequent 12 months at a rate of one-fourth per quarter. In addition, approximately $21,000 of accrued dividend equivalent rights were earned.
	-2	All shares were issued from the 2007 Plan with the exception of these shares which were issued from unregistered shares as part of the consideration for the purchase of PCM.
Summary of stock option transactions	The following table summarizes the status of the Company’s vested stock options as of March 31, 2015:
	Vested Options	Number of Options		Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
	Vested as of January 1, 2015	640,666		$	14.45
	Vested	—		—
	Exercised	—		—
	Forfeited	—		—
	Vested as of March 31, 2015	640,666		$	14.45			0.8	$	—
Summary of share based compensation expense	The components of equity compensation expense for the periods presented as follows (in thousands):
		For the Three Months Ended
		March 31,
		2015			2014
	Options granted to Manager and non-employees	$	—		$	(2	)
	Restricted shares granted to non-employees (1)	764			1,429
	Restricted shares granted to employees	167			175
	Restricted shares granted to non-employee directors	64			65
	Total equity compensation expense	$	995		$	1,667
	(1) Non-employees are employees of REXI.

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Reconciliation of basic and diluted earnings per share	The following table presents a reconciliation of basic and diluted earnings per share for the periods presented as follows (in thousands, except share and per share amounts):
		For the Three Months Ended
		March 31,
		2015		2014
	Basic:
	Net income allocable to common shares	$	9,402	$	15,116
	Weighted average number of shares outstanding	131,256,909		125,616,537
	Basic net income per share	$	0.07	$	0.12
	Diluted:
	Net income allocable to common shares	$	9,402	$	15,116
	Weighted average number of shares outstanding	131,256,909		125,616,537
	Additional shares due to assumed conversion of dilutive instruments	1,047,508		1,051,077
	Adjusted weighted-average number of common shares outstanding	132,304,417		126,667,614
	Diluted net income per share	$	0.07	$	0.12

ACCUMULATED_OTHER_COMPREHENSIV1

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Schedule of accumulated other comprehensive loss	The following table, which is presented gross of tax, presents the changes in each component of accumulated other comprehensive income for the three months ended March 31, 2015 (dollars in thousands):
		Net unrealized (loss) gain on derivatives			Net unrealized (loss) gain on securities,			Foreign Currency Translation			Accumulated other comprehensive loss
					available-for-sale
	January 1, 2015	$	(8,967	)	$	15,422		$	(412	)	$	6,043
	Other comprehensive gain (loss) before reclassifications	1,142			3,123			429			4,694
	Amounts reclassified from accumulated other	90			(6,258		)	—			(6,168		)
	comprehensive income
	Net current-period other comprehensive income	1,232			(3,135		)	429			(1,474		)
	Unrealized gains (losses) on available-for-sale securities allocable to non-controlling interests	—			807			—			807
	March 31, 2015	$	(7,735	)	$	13,094		$	17		$	5,376

DISTRIBUTIONS_Tables

DISTRIBUTIONS (Tables)	3 Months Ended
	Mar. 31, 2015
DISTRIBUTIONS [Abstract]
Dividends Declared	The following tables presents dividends declared (on a per share basis) for the three months ended March 31, 2015 and year ended December 31, 2014:
	Common Stock
		Date Paid	Total		Dividend
			Dividend Paid		Per Share
			(in thousands)
	2015
	31-Mar	28-Apr	$	21,423	$	0.16
	2014
	31-Mar	28-Apr	$	25,663	$	0.2
	30-Jun	28-Jul	$	26,179	$	0.2
	30-Sep	28-Oct	$	26,629	$	0.2
	31-Dec	January 28, 2015	$	26,563	$	0.2
	Preferred Stock
	Series A						Series B					Series C
		Date Paid	Total		Dividend		Date Paid	Total		Dividend		Date Paid	Total		Dividend
			Dividend Paid		Per Share			Dividend Paid		Per Share			Dividend Paid		Per Share
			(in thousands)					(in thousands)					(in thousands)
	2015
	31-Mar	30-Apr	$	568	$	0.53125	30-Apr	$	2,960	$	0.515625	30-Apr	$	2,588	$	0.5390625
	2014
	31-Mar	30-Apr	$	463	$	0.53125	30-Apr	$	2,057	$	0.515625	—	—		—
	30-Jun	30-Jul	$	537	$	0.53125	30-Jul	$	2,378	$	0.515625	30-Jul	$	1,437	$	0.0299479
	30-Sep	30-Oct	$	537	$	0.53125	30-Oct	$	2,430	$	0.515625	30-Oct	$	2,588	$	0.5390625
	31-Dec	30-Jan-15	$	568	$	0.53125	30-Jan-15	$	2,888	$	0.515625	January 30, 2015	$	2,588	$	0.5390625

FAIR_VALUE_OF_FINANCIAL_INSTRU1

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair value assets and liabilities measured on recurring basis	The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value as follows (in thousands):
		Level 1				Level 2				Level 3				Total
	As of March 31, 2015:
	Assets:
	Investment securities, trading	$	—			$	—			$	29,770			$	29,770
	Investment securities available-for-sale	—				32,567				251,503				284,070
	Derivatives (net)	7,015				384				6,636				14,035
	Total assets at fair value	$	7,015			$	32,951			$	287,909			$	327,875
	Liabilities:
	Derivatives (net)	$	—			$	1,319			$	7,541			$	8,860
	Total liabilities at fair value	$	—			$	1,319			$	7,541			$	8,860
	As of December 31, 2014:
	Assets:
	Investment securities, trading	$	—			$	—			$	20,786			$	20,786
	Investment securities available-for-sale	—				33,158				242,562				275,720
	CMBS - linked transactions	—				—				15,367				15,367
	Derivatives (net)	3,429				7				1,868				5,304
	Total assets at fair value	$	3,429			$	33,165			$	280,583			$	317,177
	Liabilities:
	Moselle CLO Notes	$	—			$	—			$	68,940			$	68,940
	Derivatives (net)	—				—				8,476				8,476
	Total liabilities at fair value	$	—			$	—			$	77,416			$	77,416
Fair value assets unobservable input reconciliation	The following table presents additional information about assets that are measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs (in thousands):
			CMBS including Linked Transactions				ABS				Structured				Warrant				Interest Rate Lock Commitments			Total
											Finance
											Securities
	Balance, January 1, 2015		$	185,772			$	72,157			$	20,786			$	898			$	970		$	280,583
	Included in earnings		—				1,255				1,331				(39		)		11,823			14,370
	Unlinked transactions		33,239				—				—				—				—			33,239
	Purchases		4,000				—				13,337				—				—			17,337
	Sales		—				—				(5,230		)		—				—			(5,230		)
	Paydowns		(30,983		)		(720		)		(454		)		—				—			(32,157		)
	Issuances		—				—				—				—				—			—
	Settlements		—				(11,216		)		—				—				(10,032		)	(21,248		)
	Included in OCI		1,740				(4,597		)		—				—				—			(2,857		)
	Transfers into Level 3		—				856				—				—				—			856
	Balance, March 31, 2015		$	193,768			$	57,735			$	29,770			$	859			$	2,761		$	284,893
	The following table presents additional information about liabilities that are measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs (in thousands):
		Interest rate swaps
	Beginning balance, January 1, 2015	$	8,680
	Unrealized gains - included in accumulated other comprehensive income	(1,142		)
	Included in earnings	—
	Ending balance, March 31, 2015	$	7,538
Fair value assets and liabilities measured on nonrecurring basis	The following table summarizes the financial assets and liabilities measured at fair value on a nonrecurring basis and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value as follows (in thousands):
		Level 1				Level 2				Level 3				Total
	As of March 31, 2015:
	Assets:
	Loans held for sale	$	—			$	73,892			$	—			$	73,892
	Impaired loans	—				2,445				—				2,445
	Total assets at fair value	$	—			$	76,337			$	—			$	76,337
	As of December 31, 2014:
	Assets:
	Loans held for sale	$	—			$	36,956			$	—			$	36,956
	Impaired loans	—				1,678				137,811				139,489
	Total assets at fair value	$	—			$	38,634			$	137,811			$	176,445
Significant unobservable inputs used in fair value measurements	For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of March 31, 2015, the significant unobservable inputs used in the fair value measurements were as follows (in thousands):
		Fair Value at March 31, 2015				Valuation Technique		Significant Unobservable Inputs		Significant Unobservable Input Value
	Interest rate swap agreements	$	7,538			Discounted cash flow		Weighted average credit spreads		4.78	%
Fair value financial instruments not reported at fair value	The fair values of the Company’s remaining financial instruments that are not reported at fair value on the consolidated balance sheets are reported in the following table (in thousands):
						Fair Value Measurements
		Carrying Amount				Fair Value				Quoted Prices in Active Markets for Identical Assets of Liabilities (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
	As of March 31, 2015:
	Loans held-for-investment	$	1,960,250			$	1,951,974			$	—			$	515,227			$	1,436,747
	Loans receivable-related party	$	1,229			$	1,229			$	—			$	—			$	1,229
	CDO notes	$	1,170,686			$	1,098,171			$	—			$	—			$	1,098,171
	Junior subordinated notes	$	51,256			$	17,750			$	—			$	—			$	17,750
	Repurchase agreements	$	368,397			$	368,397			$	—			$	—			$	368,397
	Senior secured revolving credit agreement	$	132,493			$	132,493			$	—			$	—			$	132,493
	As of December 31, 2014:
	Loans held-for-investment	$	1,925,980			$	1,909,019			$	—			$	570,071			$	1,338,948
	Loans receivable-related party	$	1,277			$	1,277			$	—			$	—			$	1,277
	CDO notes	$	1,046,493			$	975,762			$	—			$	—			$	975,762
	Junior subordinated notes	$	51,205			$	17,699			$	—			$	—			$	17,699
	Repurchase agreements	$	399,662			$	399,662			$	—			$	—			$	399,662
	Senior secured revolving credit agreement	$	111,137			$	111,137			$	—			$	—			$	111,137

MARKET_RISK_AND_DERIVATIVE_INS1

MARKET RISK AND DERIVATIVE INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
Derivatives, Fair Value [Line Items]
Schedule of Linked Transactions	The assets in the following table were accounted for as linked transactions as of December 31, 2014. These linked repurchase agreements are not included in borrowings on the Company's consolidated balance sheets (see Note 20).
			As of December 31, 2014
			Borrowings				Value of Collateral				Number		Weighted Average
			Under Linked				Under Linked				of Positions		Interest Rate
			Transactions (1)				Transactions				as Collateral		of Linked
											Under Linked		Transactions
											Transactions
	CMBS Term
	Repurchase Facility
	Wells Fargo Bank		$	4,941			$	6,371			7		1.67%
	Short-Term Repurchase
	Agreements - CMBS
	JP Morgan Securities, LLC		—				—				—		—%
	Wells Fargo Securities, LLC		4,108				6,233				2		1.37%
	Deutsche Bank Securities, LLC		24,348				36,001				10		1.57%
	Totals		$	33,397			$	48,605
Components of Unrealized Net Gains and Net Income from Linked Transactions	The following table presents certain information about the components of the unrealized gain (loss) and net interest income from linked transactions, net, included in the Company's consolidated statements of income for the periods presented as follows ( in thousands):
		Three Months Ended
		March 31,
		2015				2014
	Components of Unrealized Net (Losses) Gains and Net Interest Income
	Income from linked transactions
	Interest income attributable to CMBS underlying linked transactions	$	—			$	739
	Interest expense attributable to linked repurchase	—				(197		)
	agreement borrowings underlying linked transactions
	Change in fair value of linked transactions included in earnings	—				1,763
	Unrealized gain (loss) and net interest income from linked transactions, net	$	—			$	2,305
Available-for-sale Securities	The following table summarizes the Company's sales of investment securities available-for-sale (in thousands, except number of securities):
		For the Three Months Ended
		Positions Sold		Par Amount Sold				Realized Gain (Loss)
	31-Mar-15
	ABS	4		$	9,411			$	2,669
	31-Mar-14
	CMBS	3		$	12,500			$	(298	)
	The following table summarizes the Company's investment securities, including those pledged as collateral and classified as available-for-sale, which are carried at fair value (in thousands):
		Amortized Cost (1)				Unrealized Gains				Unrealized Losses				Fair Value
	As of March 31, 2015:
	CMBS	$	188,052			$	6,450			$	(734	)		$	193,768
	RMBS	28,964				1,192				—				30,156
	ABS	45,889				12,233				(387		)		57,735
	Corporate bonds	2,417				14				(20		)		2,411
	Total	$	265,322			$	19,889			$	(1,141	)		$	284,070
	As of December 31, 2014:
	CMBS	$	168,669			$	4,938			$	(3,202	)		$	170,405
	RMBS	29,814				937				—				30,751
	ABS	55,617				16,876				(336		)		72,157
	Corporate bonds	2,415				10				(18		)		2,407
	Total	$	256,515			$	22,761			$	(3,556	)		$	275,720
	-1	As of March 31, 2015 and December 31, 2014, $162.0 million and $197.8 million, respectively, of investment securities available-for-sale were pledged as collateral under related financings.
Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Instruments	The following tables present the fair value of the Company’s derivative financial instruments as well as their classification on the Company's consolidated balance sheets and on the consolidated statements of income for the years presented:
	Fair Value of Derivative Instruments as of March 31, 2015
	(in thousands)
		Asset Derivatives
		Notional Amount				Balance Sheet Location		Fair Value
	Interest rate lock agreements	$	137,983			Derivatives, at fair value		$	2,761
	Forward contracts - residential mortgage lending	$	78,968			Derivatives, at fair value		$	384
	Forward contracts - foreign currency, hedging (1)(2)	$	40,005			Derivatives, at fair value		$	7,016
	Warrants	$	492			Derivatives, at fair value		$	859
	Total return swap	$	3,000			Derivatives, at fair value		$	3,016
		Liability Derivatives
		Notional Amount				Balance Sheet Location		Fair Value
	Interest rate swap contracts, hedging (3)	$	136,129			Derivatives, at fair value		$	7,539
	Interest rate lock agreements	$	511			Derivatives, at fair value		$	2
	Forward contracts - residential mortgage lending	$	155,000			Derivatives, at fair value		$	1,204
	Forward contracts - TBA securities	$	23,500			Derivatives, at fair value		$	115
	Interest rate swap contracts	$	136,129			Accumulated other comprehensive income		$	7,539
	-1	Notional amount presented on currency converted basis. The notional amount of the Company's foreign currency hedging forward contracts was €37.3 million as of March 31, 2015.
	-2	Foreign currency forward contracts are accounted for as fair value hedges.
	-3	Interest rate swap contracts are accounted for as cash flow hedges.
	Fair Value of Derivative Instruments as of December 31, 2014
	(in thousands)
		Asset Derivatives
		Notional Amount				Balance Sheet Location		Fair Value
	Interest rate lock agreements	$	59,467			Derivatives, at fair value		$	970
	Forward contracts - residential mortgage lending	$	5,000			Derivatives, at fair value		$	7
	Forward contracts - RMBS securities	$	42,614			Derivatives, at fair value		$	1,297
	Forward contracts - foreign currency, hedging (1)(2)	$	54,948			Derivatives, at fair value		$	3,377
	Options - U.S. Treasury futures	$	90			Derivatives, at fair value		$	52
	Warrants	$	492			Derivatives, at fair value		$	898
		Liability Derivatives
		Notional Amount				Balance Sheet Location		Fair Value
	Interest rate swap contracts, hedging (3)	$	124,017			Derivatives, at fair value		$	8,680
	Interest rate lock agreements	$	798			Derivatives, at fair value		$	10
	Forward contracts - residential mortgage lending	$	154,692			Derivatives, at fair value		$	1,036
	Forward contracts - TBA securities	$	15,000			Derivatives, at fair value		$	47
	Interest rate swap contracts	$	124,017			Accumulated other comprehensive income		$	8,680
	-1	Notional amount presented on currency converted basis. The notional amount of the Company's foreign currency hedging forward contracts was €45.4 million as of December 31, 2014.
	-2	Foreign currency forward contracts are accounted for as fair value hedges.
	-3	Interest rate swap contracts are accounted for as cash flow hedges.
The Effect of Derivative Instruments on the Statement of Income	he Effect of Derivative Instruments on the Statements of Income for the
	Three Months Ended March 31, 2015
	(in thousands)
		Derivatives
		Notional Amount				Statement of Income Location		Realized and Unrealized Gain (Loss) (1)
	Interest rate swap contracts, hedging	$	136,129			Interest expense		$	1,634
	Interest rate swap contracts, hedging	$	15,000			Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	112
	Interest rate lock agreements	$	138,494			Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	2,759
	Forward contracts - RMBS securities	$	38,865			Net realized gain on sales of investment securities available-for-sale and loans		$	46
	Forward contracts - residential mortgage lending	$	233,968			Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	283
	Forward contracts - foreign currency, hedging	$	40,004			Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	3,638
	Options - U.S. Treasury futures	$	190			Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	199
	Forward contracts - TBA securities	$	23,500			Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	(115	)
	(1)Negative values indicate a decrease to the associated balance sheets or consolidated statements of income line items.
	The Effect of Derivative Instruments on the Statements of Income for the
	Three Months Ended March 31, 2014
	(in thousands)
		Derivatives
		Notional Amount				Statement of Income Location		Realized and Unrealized Gain (Loss) (1)
	Interest rate swap contracts	$	126,111			Interest expense		$	1,626
	Interest rate lock agreements	$	33,912			Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	433
	Forward contracts - residential mortgage lending	$	48,890			Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives		$	60
	(1)Negative values indicate a decrease to the associated balance sheets or consolidated statements of income line items.
Linked Transactions [Member]
Derivatives, Fair Value [Line Items]
Available-for-sale Securities	The following table summarizes the Company's investment securities, underlying linked transactions,which are carried at fair value (in thousands):
		Amortized Cost				Unrealized Gains				Unrealized Losses				Fair Value
	As of December 31, 2014:
	CMBS linked transactions	$	48,138			$	539			$	(72	)		$	48,605
	The following table summarizes the estimated maturities of the Company’s CMBS linked transactions according to their estimated weighted average life classifications (in thousands, except percentages):
	Weighted Average Life	Fair Value				Amortized Cost				Weighted Average Coupon
	As of December 31, 2014:
	Less than one year	$	7,834			$	7,775			5.36%
	Greater than one year and less than five years	36,587				36,274				4.65%
	Greater than five years and less than ten years	4,184				4,089				4.52%
	Greater than ten years	—				—				—%
	Total	$	48,605			$	48,138			4.66%
Available-for-sale Securities in a Continuous Loss Position	The following table shows the fair value, gross unrealized losses and the length of time the investment securities available-for-sale have been in a continuous unrealized loss position during the periods specified (in thousands):
		Less than 12 Months								More than 12 Months							Total
		Fair Value				Gross Unrealized Losses				Fair Value				Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
	As of December 31, 2014:
	CMBS linked transactions	$	7,609			$	(57	)		$	777			$	(15	)	$	8,386	$	(72	)
CMBS Linked Repurchase Agreements	The following table summarizes the Company's CMBS linked repurchase agreements (in thousands, except percentages):
			As of December 31, 2014
	Maturity or Repricing		Balance				Weighted Average Interest Rate
	Within 30 days		$	33,397			1.56	%
	>30 days to 90 days		—				—	%
	Total		$	33,397			1.56	%

OFFSETTING_OF_FINANCIAL_ASSETS1

OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2015
Offsetting [Abstract]
Offsetting Financial Assets and Derivative Assets	The following table presents a summary of the Company's offsetting of derivative assets for the periods presented (in thousands):
									(iv)
									Gross Amounts Not Offset in
									the Consolidated Balance Sheets
			(i)		(ii)		(iii) =i) - (ii)		Financial		Cash		(v) =iii) - (iv)
			Gross Amounts of		Gross Amounts Offset in the		Net Amounts of Assets Included in		Instruments (1)		Collateral		Net Amount
			Recognized		Consolidated		the Consolidated				Pledged
			Assets		Balance Sheets		Balance Sheets
	As of March 31, 2015:
	Derivative hedging instruments,		$	11,275	$	—	$	11,275	$	—	$	—	$	11,275
	at fair value
	Total		$	11,275	$	—	$	11,275	$	—	$	—	$	11,275
	As of December 31, 2014:
	Derivative hedging instruments,		$	4,334	$	—	$	4,334	$	—	$	—	$	4,334
	at fair value
	Linked transactions		$	48,764	$	33,397	15,367		—		—		15,367
	Total		$	53,098	$	33,397	$	19,701	$	—	$	—	$	19,701
Offsetting Financial Liabilities and Derivative Liabilities	The following table presents a summary of the Company's offsetting of financial liabilities and derivative liabilities for the periods presented as follows (in thousands):
									(iv)
									Gross Amounts Not Offset in
									the Consolidated Balance Sheets
			(i)		(ii)		(iii) =i) - (ii)		Financial		Cash		(v) =iii) - (iv)
			Gross Amounts of		Gross Amounts Offset in the		Net Amounts of Liabilities Included in		Instruments (1)		Collateral		Net Amount
			Recognized		Consolidated		the Consolidated				Pledged (2)
			Liabilities		Balance Sheets		Balance Sheets
	As of March 31, 2015:
	Derivative hedging instruments,		$	8,858	$	—	$	8,858	$	—	$	1,151	$	7,707
	at fair value (3)
	Repurchase agreements and term facilities (4)		368,397		—		368,397		368,397		—		—
	Total		$	377,255	$	—	$	377,255	$	368,397	$	1,151	$	7,707
	As of December 31, 2014:
	Derivative hedging instruments,		$	8,466	$	—	$	8,466	$	—	$	500	$	7,966
	at fair value (3)
	Repurchase agreements and term facilities (4)		399,662		—		399,662		399,662		—		—
	Linked transactions		33,397		33,397		—		—		—
	Total		$	441,525	$	33,397	$	408,128	$	399,662	$	500	$	7,966
	-1	Amounts represent collateral pledged that is available to be offset against liability balances associated with term facilities, repurchase agreements and derivative transactions.
	-2	Amounts represent amounts pledged as collateral against derivative transactions.
	-3	The fair value of securities pledged against the Company's swaps was $1.3 million and $2.6 million at March 31, 2015 and December 31, 2014, respectively.
	-4	The combined fair value of securities and loans pledged against the Company's various term facilities and repurchase agreements was $483.7 million and $565.6 million at March 31, 2015 and December 31, 2014, respectively.

ORGANIZATION_AND_BASIS_OF_PRES1

ORGANIZATION AND BASIS OF PRESENTATION (Details)	3 Months Ended	1 Months Ended	0 Months Ended
	Mar. 31, 2015	31-May-13	Feb. 27, 2014	Jul. 09, 2014
Resource Real Estate Funding CDO 2006-1 [Member] | RCC Real Estate [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	100.00%
Resource Real Estate Funding CDO 2007-1 [Member] | RCC Real Estate [Member]
Variable Interest Entity [Line Items]
Percentage of outstanding notes purchased	100.00%
RCC CRE Notes 2013 [Member] | RCC Real Estate [Member]
Variable Interest Entity [Line Items]
Percentage of outstanding notes purchased	100.00%
Resource Capital Corp. 2014-CRE2, Ltd. [Member] | RCC Real Estate [Member]
Variable Interest Entity [Line Items]
Percentage of outstanding notes purchased	100.00%
Apidos CDO III Ltd. [Member] | RCC Commercial [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	100.00%
Apidos Cinco CDO Ltd [Member] | RCC Commercial II [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	100.00%
Whitney CLO I, Ltd. [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE		68.30%
Whitney CLO I, Ltd. [Member] | RCC Commercial II [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	68.30%
Moselle CLO [Member] | RCC Commercial II [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	88.60%
Northport LLC [Member] | Resource TRS, Inc [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	49.40%
Northport LLC [Member] | RCC Commercial [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	32.80%
Northport LLC [Member] | Resource TRS, LLC [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	17.80%
Apidos CDO I Ltd. [Member] | RCC Commercial III [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	90.00%
Apidos CDO I Ltd. [Member] | RSO EquityCo, LLC [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	10.00%
Resource Capital Asset Management [Member] | Pelium [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	71.80%
Resource Capital Asset Management [Member] | Resource TRS II [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	100.00%
Number of CDO issuers	3
CVC Credit Partners, LLC [Member] | Resource America [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	33.00%
Apidos CLO VIII Ltd. [Member] | Resource TRS III [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	33.00%
Apidos CLO VIII Ltd. [Member] | RSO EquityCo, LLC [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	10.00%
Life Care Funding, LLC [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE			50.20%
Life Care Funding, LLC [Member] | Long Term Care Conversion Funding [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	50.20%
Long Term Care Conversion Funding [Member] | Long Term Care Conversion, Inc [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	100.00%
Primary Capital Advisors LLC [Member] | RCC Residential, Inc. [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	100.00%
RCM Global Manager, LLC [Member] | RCC Residential, Inc. [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	53.20%			63.80%
RCC Opportunities Trust [Member] | RCC Depositor, LLC [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE	100.00%
Resource Capital Corp. 2015-CRE3, Ltd. [Member] | RCC Real Estate [Member]
Variable Interest Entity [Line Items]
Percentage of outstanding notes purchased	100.00%

VARIABLE_INTEREST_ENTITIES_Det

VARIABLE INTEREST ENTITIES (Details) (USD $)

3 Months Ended

0 Months Ended

1 Months Ended

0 Months Ended

12 Months Ended

1 Months Ended

Mar. 31, 2015

Mar. 31, 2014

Jul. 09, 2014

Feb. 28, 2015

Sep. 30, 2014

Feb. 28, 2011

Oct. 31, 2012

31-May-13

Nov. 16, 2011

Dec. 31, 2014

Feb. 28, 2013

Feb. 28, 2014

credit

Entity

Entity

Variable Interest Entity [Line Items]

Number of credits supported in VIE

2

Investments in unconsolidated entities

$55,488,000

[1]

$59,827,000

[1]

Borrowings

1,924,598,000

[2]

1,716,871,000

[2]

Intangible assets

9,229,000

[1]

9,736,000

[1]

Fee income

1,605,000

2,500,000

Investment in LCC Preferred Stock

Variable Interest Entity [Line Items]

Investments in unconsolidated entities

39,469,000

36,300,000

39,416,000

RCC Residential, Inc. [Member]

Variable Interest Entity [Line Items]

Acquisition of membership interests

15,000,000

Payments to acquire businesses and interest in affiliates

23,500,000

Ownership percentage (percent)

63.80%

Pelium [Member]

Variable Interest Entity [Line Items]

Acquisition of membership interests

2,500,000

17,500,000

Ownership percentage (percent)

71.80%

80.40%

Ownership interest

10.00%

Ownership percentage, duration

5 years

Ownership interest increase

20.00%

20.00%

Contributions

40,000,000

Investment in RCAM [Member]

Variable Interest Entity [Line Items]

Number of CLOs held by purchased entity

5

Acquisition

22,500,000

Intangible assets

9,400,000

Fee income

965,000

1,700,000

VIE, Primary Beneficiary [Member]

Variable Interest Entity [Line Items]

Number of consolidated VIEs

12

Financial support provided to VIEs

0

539,000

VIE, Primary Beneficiary [Member] | Moselle CLO [Member]

Variable Interest Entity [Line Items]

Acquisition of membership interests

30,400,000

VIE, Primary Beneficiary [Member] | Investment in RCAM [Member]

Variable Interest Entity [Line Items]

Preferred equity interest acquired

66.60%

VIE, Primary Beneficiary [Member] | Whitney CLO I, Ltd. [Member]

Variable Interest Entity [Line Items]

Percentage of outstanding notes purchased

68.30%

Variable Interest Entity, Not Primary Beneficiary [Member] | LEAF Commercial Capital, Inc. [Member]

Variable Interest Entity [Line Items]

Preferred stock, coupon authorized (in hundredths)

8.00%

Ownership percentage in VIE

26.70%

Investments in unconsolidated entities

39,400,000

Variable interest entity, number of board positions held by the company

2

Variable interest entity, total number of board positions

6

Variable Interest Entity, Not Primary Beneficiary [Member] | LEAF Commercial Capital, Inc. [Member] | Preferred Shares - Series A [Member]

Variable Interest Entity [Line Items]

Acquisition of membership interests

3,700,000

Shares received in equity method transaction (in shares)

31,341

Variable Interest Entity, Not Primary Beneficiary [Member] | LEAF Commercial Capital, Inc. [Member] | Preferred Shares - Series B [Member]

Variable Interest Entity [Line Items]

Shares received in equity method transaction (in shares)

4,872

Variable Interest Entity, Not Primary Beneficiary [Member] | LEAF Commercial Capital, Inc. [Member] | Series D Preferred Stock [Member]

Variable Interest Entity [Line Items]

Shares received in equity method transaction (in shares)

2,364

Variable Interest Entity, Not Primary Beneficiary [Member] | LEAF Commercial Capital, Inc. [Member] | Series A1 Preferred Stock [Member]

Variable Interest Entity [Line Items]

Shares received in equity method transaction (in shares)

3,682

Variable Interest Entity, Not Primary Beneficiary [Member] | LEAF Commercial Capital, Inc. [Member] | Series E Preferred Stock [Member]

Variable Interest Entity [Line Items]

Acquisition of membership interests

4,400,000

Shares received in equity method transaction (in shares)

4,445

Variable Interest Entity, Not Primary Beneficiary [Member] | LEAF Commercial Capital, Inc. [Member] | Investment in LCC Preferred Stock

Variable Interest Entity [Line Items]

Ownership percentage (percent)

28.40%

Variable Interest Entity, Not Primary Beneficiary [Member] | Investment in RCT I and II

Variable Interest Entity [Line Items]

Ownership percentage in VIE

100.00%

Investments in unconsolidated entities

1,500,000

Variable Interest Entity, Not Primary Beneficiary [Member] | Interest in RCT I

Variable Interest Entity [Line Items]

Percentage of total value of trusts owned

3.00%

Borrowings

25,800,000

Variable Interest Entity, Not Primary Beneficiary [Member] | Interest in RCT II

Variable Interest Entity [Line Items]

Percentage of total value of trusts owned

3.00%

Borrowings

$25,800,000

Variable Interest Entity, Not Primary Beneficiary [Member] | Investment in RCAM [Member]

Variable Interest Entity [Line Items]

Number of CLOs held by purchased entity

4

Number of CLOs liquidated

1

Class 1 Subordinated Notes [Member] | Moselle CLO S.A. Senior Notes [Member]

Variable Interest Entity [Line Items]

Percentage of outstanding notes purchased

100.00%

Class 2 Subordinated Notes [Member] | Moselle CLO S.A. Senior Notes [Member]

Variable Interest Entity [Line Items]

Percentage of outstanding notes purchased

67.90%

RCC Residential, Inc. [Member] | RCM Global Manager, LLC [Member]

Variable Interest Entity [Line Items]

Ownership percentage in VIE

53.20%

63.80%

[1]

March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

[2]

March 31, 2015 December 31, 2014Liabilities of consolidated VIEs included in the total liabilities above: Borrowings $1,170,687 $1,046,494 Accrued interest expense1,329 1,000 Derivatives, at fair value7,305 8,439Unsettled loan purchases— (529) Accounts payable and other liabilities56 (386) Total liabilities of consolidated VIEs$1,179,377 $1,055,018

VARIABLE_INTEREST_ENTITIES_Sch

VARIABLE INTEREST ENTITIES (Schedule of Carrying Value of Assets and Liabilities of Consolidated VIEs) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$133,000	$25,000
Restricted cash	25,262,000	121,247,000
Investment securities available-for-sale, pledged as collateral, at fair value	94,658,000	119,203,000
Loans, pledged as collateral	1,445,136,000	1,261,137,000
Loans held for sale	73,892,000	282,000
Interest receivable	9,895,000	8,941,000
Prepaid assets	193,000	221,000
Principal paydown receivable	26,700,000	25,767,000
Other assets	-742,000	-12,000
Total assets of consolidated VIEs	1,675,127,000	1,536,811,000
LIABILITIES
Borrowings	1,170,687,000	1,046,494,000
Accrued interest expense	1,329,000	1,000,000
Derivatives, at fair value	7,305,000	8,439,000
Unsettled loan purchases	0	-529,000
Accounts payable and other liabilities	56,000	-386,000
Total liabilities of consolidated VIEs	1,179,377,000	1,055,018,000
VIE, Primary Beneficiary [Member]
ASSETS
Cash and cash equivalents	133,000
Restricted cash	25,262,000
Investment securities available-for-sale, pledged as collateral, at fair value	94,658,000
Loans, pledged as collateral	1,445,136,000
Loans held for sale	73,892,000
Interest receivable	9,895,000
Prepaid assets	193,000
Principal paydown receivable	26,700,000
Other assets	-742,000
Total assets of consolidated VIEs	1,675,127,000
LIABILITIES
Borrowings	1,170,687,000
Accrued interest expense	1,329,000
Derivatives, at fair value	7,305,000
Unsettled loan purchases	0
Accounts payable and other liabilities	56,000
Total liabilities of consolidated VIEs	1,179,377,000
Restricted cash available for reinvestment in certain of the CDOs	2,800,000
VIE, Primary Beneficiary [Member] | Apidos CDO I Ltd. [Member]
ASSETS
Cash and cash equivalents	0
Restricted cash	76,000
Investment securities available-for-sale, pledged as collateral, at fair value	0
Loans, pledged as collateral	153,000
Loans held for sale	0
Interest receivable	0
Prepaid assets	0
Principal paydown receivable	0
Other assets	0
Total assets of consolidated VIEs	229,000
LIABILITIES
Borrowings	0
Accrued interest expense	0
Derivatives, at fair value	0
Unsettled loan purchases	0
Accounts payable and other liabilities	0
Total liabilities of consolidated VIEs	0
VIE, Primary Beneficiary [Member] | Apidos CDO III Ltd. [Member]
ASSETS
Cash and cash equivalents	0
Restricted cash	4,519,000
Investment securities available-for-sale, pledged as collateral, at fair value	2,856,000
Loans, pledged as collateral	-79,000
Loans held for sale	71,611,000
Interest receivable	433,000
Prepaid assets	15,000
Principal paydown receivable	0
Other assets	0
Total assets of consolidated VIEs	79,355,000
LIABILITIES
Borrowings	67,028,000
Accrued interest expense	45,000
Derivatives, at fair value	0
Unsettled loan purchases	0
Accounts payable and other liabilities	33,000
Total liabilities of consolidated VIEs	67,106,000
VIE, Primary Beneficiary [Member] | Apidos Cinco CDO Ltd [Member]
ASSETS
Cash and cash equivalents	0
Restricted cash	17,227,000
Investment securities available-for-sale, pledged as collateral, at fair value	10,891,000
Loans, pledged as collateral	223,524,000
Loans held for sale	2,281,000
Interest receivable	744,000
Prepaid assets	40,000
Principal paydown receivable	0
Other assets	0
Total assets of consolidated VIEs	254,707,000
LIABILITIES
Borrowings	229,644,000
Accrued interest expense	234,000
Derivatives, at fair value	0
Unsettled loan purchases	0
Accounts payable and other liabilities	13,000
Total liabilities of consolidated VIEs	229,891,000
VIE, Primary Beneficiary [Member] | Whitney CLO I, Ltd. [Member]
ASSETS
Cash and cash equivalents	0
Restricted cash	116,000
Investment securities available-for-sale, pledged as collateral, at fair value	0
Loans, pledged as collateral	0
Loans held for sale	0
Interest receivable	0
Prepaid assets	0
Principal paydown receivable	0
Other assets	0
Total assets of consolidated VIEs	116,000
LIABILITIES
Borrowings	0
Accrued interest expense	0
Derivatives, at fair value	0
Unsettled loan purchases	0
Accounts payable and other liabilities	0
Total liabilities of consolidated VIEs	0
VIE, Primary Beneficiary [Member] | Resource Real Estate Funding CDO 2006-1 [Member]
ASSETS
Cash and cash equivalents	0
Restricted cash	18,000
Investment securities available-for-sale, pledged as collateral, at fair value	5,777,000
Loans, pledged as collateral	125,373,000
Loans held for sale	0
Interest receivable	2,485,000
Prepaid assets	47,000
Principal paydown receivable	0
Other assets	0
Total assets of consolidated VIEs	133,700,000
LIABILITIES
Borrowings	52,958,000
Accrued interest expense	42,000
Derivatives, at fair value	608,000
Unsettled loan purchases	0
Accounts payable and other liabilities	4,000
Total liabilities of consolidated VIEs	53,612,000
VIE, Primary Beneficiary [Member] | Resource Real Estate Funding CDO 2007-1 [Member]
ASSETS
Cash and cash equivalents	0
Restricted cash	250,000
Investment securities available-for-sale, pledged as collateral, at fair value	57,930,000
Loans, pledged as collateral	199,987,000
Loans held for sale	0
Interest receivable	2,081,000
Prepaid assets	48,000
Principal paydown receivable	5,775,000
Other assets	0
Total assets of consolidated VIEs	266,071,000
LIABILITIES
Borrowings	131,717,000
Accrued interest expense	148,000
Derivatives, at fair value	6,697,000
Unsettled loan purchases	0
Accounts payable and other liabilities	1,000
Total liabilities of consolidated VIEs	138,563,000
VIE, Primary Beneficiary [Member] | RCC CRE Notes 2013 [Member]
ASSETS
Cash and cash equivalents	0
Restricted cash	2,514,000
Investment securities available-for-sale, pledged as collateral, at fair value	0
Loans, pledged as collateral	204,181,000
Loans held for sale	0
Interest receivable	1,081,000
Prepaid assets	43,000
Principal paydown receivable	20,925,000
Other assets	0
Total assets of consolidated VIEs	228,744,000
LIABILITIES
Borrowings	179,547,000
Accrued interest expense	289,000
Derivatives, at fair value	0
Unsettled loan purchases	0
Accounts payable and other liabilities	0
Total liabilities of consolidated VIEs	179,836,000
VIE, Primary Beneficiary [Member] | RCC CRE Notes 2014 [Member]
ASSETS
Cash and cash equivalents	0
Restricted cash	0
Investment securities available-for-sale, pledged as collateral, at fair value	0
Loans, pledged as collateral	350,362,000
Loans held for sale	0
Interest receivable	1,377,000
Prepaid assets	0
Principal paydown receivable	0
Other assets	9,000
Total assets of consolidated VIEs	351,748,000
LIABILITIES
Borrowings	231,662,000
Accrued interest expense	195,000
Derivatives, at fair value	0
Unsettled loan purchases	0
Accounts payable and other liabilities	0
Total liabilities of consolidated VIEs	231,857,000
VIE, Primary Beneficiary [Member] | RCC CRE Notes 2015 [Member]
ASSETS
Cash and cash equivalents	0
Restricted cash	5,000
Investment securities available-for-sale, pledged as collateral, at fair value	0
Loans, pledged as collateral	341,635,000
Loans held for sale	0
Interest receivable	1,285,000
Prepaid assets	0
Principal paydown receivable	0
Other assets	0
Total assets of consolidated VIEs	342,925,000
LIABILITIES
Borrowings	278,011,000
Accrued interest expense	376,000
Derivatives, at fair value	0
Unsettled loan purchases	0
Accounts payable and other liabilities	3,000
Total liabilities of consolidated VIEs	278,390,000
VIE, Primary Beneficiary [Member] | Moselle CLO [Member]
ASSETS
Cash and cash equivalents	0
Restricted cash	537,000
Investment securities available-for-sale, pledged as collateral, at fair value	0
Loans, pledged as collateral	0
Loans held for sale	0
Interest receivable	0
Prepaid assets	0
Principal paydown receivable	0
Other assets	0
Total assets of consolidated VIEs	537,000
LIABILITIES
Borrowings	120,000
Accrued interest expense	0
Derivatives, at fair value	0
Unsettled loan purchases	0
Accounts payable and other liabilities	0
Total liabilities of consolidated VIEs	120,000
VIE, Primary Beneficiary [Member] | RCM Global Manager, LLC [Member]
ASSETS
Cash and cash equivalents	133,000
Restricted cash	0
Investment securities available-for-sale, pledged as collateral, at fair value	17,204,000
Loans, pledged as collateral	0
Loans held for sale	0
Interest receivable	409,000
Prepaid assets	0
Principal paydown receivable	0
Other assets	-751,000
Total assets of consolidated VIEs	16,995,000
LIABILITIES
Borrowings	0
Accrued interest expense	0
Derivatives, at fair value	0
Unsettled loan purchases	0
Accounts payable and other liabilities	2,000
Total liabilities of consolidated VIEs	$2,000

VARIABLE_INTEREST_ENTITIES_Sch1

VARIABLE INTEREST ENTITIES (Schedule of Classification, Carrying Value, and Maximum Exposure to Loss of Unconsolidated VIEs) (Details) (Variable Interest Entity, Not Primary Beneficiary [Member], USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Variable Interest Entity [Line Items]
Investment in unconsolidated entities	$41,017
Intangible assets	8,990
Total assets	50,007
Borrowings	51,256
Total liabilities	51,256
Net asset (liability)	-1,249
Investments in Unconsolidated Entities
Variable Interest Entity [Line Items]
Unconsolidated Variable Interest Entities, Maximum Exposure to Loss	41,017
Intangible Assets [Member]
Variable Interest Entity [Line Items]
Unconsolidated Variable Interest Entities, Maximum Exposure to Loss	8,990
LEAF Commercial Capital, Inc. [Member]
Variable Interest Entity [Line Items]
Investment in unconsolidated entities	39,469
Intangible assets	0
Total assets	39,469
Borrowings	0
Total liabilities	0
Net asset (liability)	39,469
Unsecured Junior Subordinated Debentures [Member]
Variable Interest Entity [Line Items]
Investment in unconsolidated entities	1,548
Intangible assets	0
Total assets	1,548
Borrowings	51,256
Total liabilities	51,256
Net asset (liability)	-49,708
Resource Capital Asset Management [Member]
Variable Interest Entity [Line Items]
Investment in unconsolidated entities	0
Intangible assets	8,990
Total assets	8,990
Borrowings	0
Total liabilities	0
Net asset (liability)	$8,990

SUPPLEMENTAL_CASH_FLOW_INFORMA2

SUPPLEMENTAL CASH FLOW INFORMATION (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Non-cash investing activities include the following: [Abstract]
Conversion of linked transaction assets to CMBS	$48,605	$0
Non-cash financing activities include the following:
Issuance of restricted stock	1,163	640
Conversion of linked transaction liabilities to repurchase agreement borrowings	33,377	0
Common Stock [Member]
Non-cash financing activities include the following:
Distributions on common and preferred stock declared but not paid	21,423	25,663
Preferred Stock [Member]
Non-cash financing activities include the following:
Distributions on common and preferred stock declared but not paid	$6,116	$2,520

INVESTMENT_SECURITIES_TRADING_1

INVESTMENT SECURITIES TRADING (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
	Security	Security
Investments, Debt and Equity Securities [Abstract]
Trading Securities, Number Sold	12
Trading Securities, Realized Gain	$0.40
Number of trading securities held	45	37

INVESTMENT_SECURITIES_TRADING_2

INVESTMENT SECURITIES TRADING (Schedule of Investment Trading Securities at Fair Value) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Thousands, unless otherwise specified
Schedule of Trading Securities and Other Trading Assets [Line Items]
Amortized Cost	$32,204		$24,772
Unrealized Gains	2,063		1,098
Unrealized Losses	-4,497		-5,084
Fair Value	29,770	[1]	20,786	[1]
Structured Notes [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Amortized Cost	30,308		22,876
Unrealized Gains	2,063		1,098
Unrealized Losses	-2,601		-3,188
Fair Value	29,770		20,786
RMBS [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Amortized Cost	1,896		1,896
Unrealized Gains	0		0
Unrealized Losses	-1,896		-1,896
Fair Value	$0		$0
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

INVESTMENT_SECURITIES_AVAILABL2

INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Details) (USD $)	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014	Dec. 31, 2014
			Security
Schedule of Available-for-sale Securities [Line Items]
Investment securities available-for-sale, pledged as collateral, at fair value	$161,971,000	[1]		$197,800,000	[1]
Corporate bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of securities redeemed			1
Par value of securities redeemed	630,000
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds	-1,000
ABS [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of securities redeemed	2		1
Par value of securities redeemed	2,500,000		2,500,000
Loss on available-for-sale securities redeemed			0
Gain on available-for-sale securities redeemed	$3,600,000
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

INVESTMENT_SECURITIES_AVAILABL3

INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Schedule of Available-for-Sale Securities, Fair Value) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$265,322	$256,515
Unrealized Gains	19,889	22,761
Unrealized Losses	-1,141	-3,556
Fair Value	284,070	275,720
CMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	188,052	168,669
Unrealized Gains	6,450	4,938
Unrealized Losses	-734	-3,202
Fair Value	193,768	170,405
RMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	28,964	29,814
Unrealized Gains	1,192	937
Unrealized Losses	0	0
Fair Value	30,156	30,751
ABS [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	45,889	55,617
Unrealized Gains	12,233	16,876
Unrealized Losses	-387	-336
Fair Value	57,735	72,157
Corporate bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,417	2,415
Unrealized Gains	14	10
Unrealized Losses	-20	-18
Fair Value	$2,411	$2,407

INVESTMENT_SECURITIES_AVAILABL4

INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Estimated Maturities of Available-For-Sale Securities) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value
Less than one year	$84,119	$78,095
Greater than one year and less than five years	125,176	115,302
Greater than five years and less than ten years	16,808	20,177
Greater than ten years	57,967	62,146
Total	284,070	275,720
Amortized Cost
Less than one year	82,983	79,649
Greater than one year and less than five years	113,882	100,909
Greater than five years and less than ten years	14,358	17,516
Greater than ten years	54,099	58,441
Total	$265,322	$256,515
Weighted Average Coupon
Less than one year	4.97%	4.13%
Greater than one year and less than five years	8.34%	4.64%
Greater than five years and less than ten years	10.86%	16.45%
Greater than ten years	6.50%	7.86%
Total	7.12%	6.08%

INVESTMENT_SECURITIES_AVAILABL5

INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Gross Unrealized Loss and Fair Value of Securities) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Security	Security
Schedule of Available-for-sale Securities [Line Items]
Fair Value, less than 12 months	$27,024	$38,307
Unrealized Losses, less than 12 months	-241	-851
Number of Securities, less than 12 months	21	31
Fair value, more than 12 months	17,784	26,541
Unrealized losses, more than 12 Months	-900	-2,705
Number of Securities, more than 12 Months	21	16
Fair value, total	44,808	64,848
Unrealized losses, total	-1,141	-3,556
Number of Securities, total	42	47
CMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, less than 12 months	25,380	35,860
Unrealized Losses, less than 12 months	-220	-555
Number of Securities, less than 12 months	19	22
Fair value, more than 12 months	16,396	25,583
Unrealized losses, more than 12 Months	-514	-2,647
Number of Securities, more than 12 Months	12	13
Fair value, total	41,776	61,443
Unrealized losses, total	-734	-3,202
Number of Securities, total	31	35
ABS [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, less than 12 months	197	1,000
Unrealized Losses, less than 12 months	-1	-278
Number of Securities, less than 12 months	1	8
Fair value, more than 12 months	1,388	958
Unrealized losses, more than 12 Months	-386	-58
Number of Securities, more than 12 Months	9	3
Fair value, total	1,585	1,958
Unrealized losses, total	-387	-336
Number of Securities, total	10	11
Corporate bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, less than 12 months	1,447	1,447
Unrealized Losses, less than 12 months	-20	-18
Number of Securities, less than 12 months	1	1
Fair value, more than 12 months	0	0
Unrealized losses, more than 12 Months	0	0
Number of Securities, more than 12 Months	0	0
Fair value, total	1,447	1,447
Unrealized losses, total	($20)	($18)
Number of Securities, total	1	1

INVESTMENT_SECURITIES_AVAILABL6

INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Summary of Sales of Investment Securities Available-for-Sale) (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
	Security	Security
ABS [Member]
Schedule of Available-for-sale Securities [Line Items]
Positions Sold	4
Par Amount Sold	$9,411
Realized Gain (Loss)	2,669
CMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Positions Sold		3
Par Amount Sold		12,500
Realized Gain (Loss)		($298)

LOANS_Summary_of_Loans_Details

LOANS (Summary of Loans) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
	Loan		Loan
Receivables with Imputed Interest [Line Items]
Financing Receivable, Allowance for Credit Losses, Included Related Party	$7,385,000		$4,613,000		$13,807,000
Principal, Gross	1,977,243,000		1,940,406,000
Unamortized (discount) premium, gross	-9,608,000		-9,813,000
Loans Receivable Held-for-sale, Amount, Carrying Value	248,254,000
Gross carrying value of loans held for investment	1,967,635,000		1,930,593,000
Allowance for loan loss	-7,385,000		-4,613,000
Unamortized (discount) premium, gross, allowance for loan loss	0		0
Carrying value, allowance for loan loss	-7,385,000		-4,613,000
Principal, Net	1,969,858,000		1,935,793,000
Unamortized (discount) premium, Loans Held for Investment, net	-9,608,000		-9,813,000
Net carrying value of loans held for investment	1,960,250,000		1,925,980,000
Loans held for sale	248,451,000		111,736,000
Unamortized (discount) premium, Loans Held for Sale	-197,000
Loans Receivable, Net			111,736,000
Loans held for investment and held for sale	2,218,309,000		2,047,529,000
Unamortized (discount) premium, net	-9,805,000		-9,813,000
Loans held for investment and held for sale, net carrying value	2,208,504,000		2,037,716,000
Deferred amendment fees	110,000		88,000
Loans held for sale, net	248,254,000	[1]	111,736,000	[1]
Number of defaulted loans	1		2
Loans Receivable Held-for-sale, Unrealized Loss	197,000
Bank Loans [Member]
Receivables with Imputed Interest [Line Items]
Principal, Gross	225,216,000		332,058,000
Unamortized (discount) premium, gross	-899,000		-1,410,000
Gross carrying value of loans held for investment	224,317,000		330,648,000
Loans held for sale	73,892,000		282,000
Deferred upfront fee	68,000		82,000
Loans held for sale, net	298,200,000		330,400,000
Middle-market Loans [Member]
Receivables with Imputed Interest [Line Items]
Principal, Gross	295,478,000		250,859,000
Unamortized (discount) premium, gross	-685,000		-746,000
Gross carrying value of loans held for investment	294,793,000		250,113,000
Loans held for sale, net	292,300,000		250,100,000
Residential mortgage loans [Member]
Receivables with Imputed Interest [Line Items]
Principal, Gross	2,641,000		2,802,000
Unamortized (discount) premium, gross	0		0
Loans Receivable Held-for-sale, Amount, Carrying Value	174,362,000
Gross carrying value of loans held for investment	2,641,000		2,802,000
Loans held for sale			111,454,000
Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Principal, Gross	1,453,908,000		1,354,687,000
Unamortized (discount) premium, gross	-8,024,000		-7,657,000
Gross carrying value of loans held for investment	1,445,884,000		1,347,030,000
Loan origination fees	8,000,000		7,600,000
Commercial Real Estate Loans [Member] | Whole Loans, Floating Rate [Member]
Receivables with Imputed Interest [Line Items]
Quantity of Loans, Fixed Contractual Interest in Floating Rate Whole Loan, Rate One	2		2
The amortized cost of loans held for investments, fixed rate whole loans included in floating rate whole loans.	12,000,000		12,000,000
Quantity of Loans, Fixed Contractual Interest in Floating Rate Whole Loan, Rate Two	2
Commercial Real Estate Loans [Member] | Whole Loans [Member]
Receivables with Imputed Interest [Line Items]
Principal, Gross	1,370,303,000		1,271,121,000
Unamortized (discount) premium, gross	-7,921,000		-7,529,000
Gross carrying value of loans held for investment	1,362,382,000		1,263,592,000
Fixed contractual interest in floating rate whole loan	12.00%		12.00%
Fixed contractual interest in floating rate whole loan, Rate Two			15.00%
Commercial Real Estate Loans [Member] | Mezzanine Loans, Floating Rate [Member]
Receivables with Imputed Interest [Line Items]
The amortized cost of loans held for investments, fixed rate whole loans included in floating rate whole loans.			4,200,000
Commercial Real Estate Loans [Member] | B Notes [Member]
Receivables with Imputed Interest [Line Items]
Principal, Gross	16,070,000		16,120,000
Unamortized (discount) premium, gross	-39,000		-48,000
Gross carrying value of loans held for investment	16,031,000		16,072,000
Commercial Real Estate Loans [Member] | Mezzanine Loans [Member]
Receivables with Imputed Interest [Line Items]
Principal, Gross	67,535,000		67,446,000
Unamortized (discount) premium, gross	-64,000		-80,000
Gross carrying value of loans held for investment	67,471,000		67,366,000
Residential Mortgage Loans [Member]
Receivables with Imputed Interest [Line Items]
Financing Receivable, Allowance for Credit Losses, Included Related Party	110,000		0		0
Unamortized (discount) premium, gross	-197,000
Loans held for sale	174,559,000		111,454,000
Number of defaulted loans	2
Agency-Conforming [Member]
Receivables with Imputed Interest [Line Items]
Loans held for sale	58,300,000		28,900,000
Jumbo Mortgage Loans [Member]
Receivables with Imputed Interest [Line Items]
Loans held for sale	$116,100,000		$82,600,000
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

LOANS_Commercial_Real_Estate_L

LOANS (Commercial Real Estate Loans Held for Investment) (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Receivables with Imputed Interest [Line Items]
Allowance for loan loss	7,385,000	4,613,000
Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Quantity	79	78
Amortized Cost	1,445,884,000	1,347,030,000
Allowance for loan loss	720,000	570,000
Whole Loans [Member]
Receivables with Imputed Interest [Line Items]
Allowance for loan loss	3,923,000	3,758,000
Whole Loans [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Amortized Cost	1,362,382,000	1,263,592,000
Fixed contractual interest in floating rate whole loan	12.00%	12.00%
Whole Loans, Floating Rate [Member]
Receivables with Imputed Interest [Line Items]
Loans held for investment, unfunded loan commitments	96,800,000	105,100,000
Whole Loans, Floating Rate [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Quantity	74	73
Amortized Cost	1,362,382,000	1,263,592,000
The amortized cost of loans held for investments, fixed rate whole loans included in floating rate whole loans.	12,000,000	12,000,000
Whole Loans, Floating Rate [Member] | Minimum [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Variable rate basis	LIBOR	LIBOR
Basis spread on variable rate	1.75%	2.68%
Maturity Dates	Jan-15	Mar-14
Whole Loans, Floating Rate [Member] | Maximum [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Variable rate basis	LIBOR	LIBOR
Basis spread on variable rate	15.00%	12.14%
Maturity Dates	Feb-19	Feb-19
Preferred equity tranche [Member]
Receivables with Imputed Interest [Line Items]
Amortized Cost	799,000
Preferred equity tranche [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Fixed preferred equity interest in floating rate whole loan	10.00%
B Notes [Member]
Receivables with Imputed Interest [Line Items]
Allowance for loan loss	22,000	55,000
B Notes [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Amortized Cost	16,031,000	16,072,000
B Notes, Fixed Rate [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Quantity	1	1
Amortized Cost	16,031,000	16,072,000
Stated interest rate	8.68%	8.68%
B Notes, Fixed Rate [Member] | Maximum [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Maturity Dates	Apr-16	Apr-16
Mezzanine Loans [Member]
Receivables with Imputed Interest [Line Items]
Allowance for loan loss	98,000	230,000
Mezzanine Loans [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Amortized Cost	67,471,000	67,366,000
Mezzanine Loans, Floating Rate [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Quantity	1	1
Amortized Cost	12,659,000	12,558,000
Variable rate basis		LIBOR
Basis spread on variable rate	15.32%	15.32%
Maturity Dates	Apr-16	Apr-16
The amortized cost of loans held for investments, fixed rate whole loans included in floating rate whole loans.		4,200,000
Mezzanine Loans, Floating Rate [Member] | Minimum [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Variable rate basis	LIBOR
Mezzanine Loans, Fixed Rate [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Quantity	3	3
Amortized Cost	54,812,000	54,808,000
Number of loan tranches	2
Mezzanine Loans, Fixed Rate [Member] | Minimum [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Stated interest rate	0.50%	0.50%
Maturity Dates	Sep-16	Sep-14
Mezzanine Loans, Fixed Rate [Member] | Maximum [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Stated interest rate	18.71%	18.72%
Maturity Dates	Sep-21	Sep-19
Mezzanine Loans, Fixed Rate, Tranche One [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Stated interest rate	0.50%
Mezzanine Loans, Fixed Rate, Tranche Two [Member] | Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Variable rate basis	LIBOR
Basis spread on variable rate	18.50%
Stated interest rate	0.50%
Not included in total [Member]
Receivables with Imputed Interest [Line Items]
Allowance for loan loss	4,000,000	4,000,000

LOANS_Details

LOANS (Details) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Receivables with Imputed Interest [Line Items]
Principal paydown receivable	26,906	[1]	40,920	[1]
Loans held for sale, net	248,254	[1]	111,736	[1]
Allowance for loan loss	7,385		4,613
Middle-market Loans [Member]
Receivables with Imputed Interest [Line Items]
Loans held for sale, net	292,300		250,100
Allowance for loan loss	2,512
Bank Loans [Member]
Receivables with Imputed Interest [Line Items]
Loans held for sale, net	298,200		330,400
Allowance for loan loss	720		570
Residential Mortgage Loans [Member]
Receivables with Imputed Interest [Line Items]
Allowance for loan loss	110
Whole Loans [Member]
Receivables with Imputed Interest [Line Items]
Allowance for loan loss	3,923		3,758
Middle-market Loans [Member] | Minimum [Member]
Receivables with Imputed Interest [Line Items]
Basis spread on variable rate	5.50%		5.50%
Middle-market Loans [Member] | Maximum [Member]
Receivables with Imputed Interest [Line Items]
Basis spread on variable rate	11.75%		9.25%
Commercial Real Estate Loans [Member]
Receivables with Imputed Interest [Line Items]
Allowance for loan loss	720		570
Bank Loans [Member] | Minimum [Member]
Receivables with Imputed Interest [Line Items]
Variable rate basis	three month London Interbank Offered Rate
Basis spread on variable rate	1.50%		1.25%
Bank Loans [Member] | Maximum [Member]
Receivables with Imputed Interest [Line Items]
Variable rate basis	three month LIBOR		three month LIBOR
Basis spread on variable rate	8.75%		8.75%
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

LOANS_Weighted_Average_Life_of

LOANS (Weighted Average Life of Commercial Real Estate Loans, at Amortized Cost) (Details) (Commercial Real Estate Loans [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Receivables with Imputed Interest [Line Items]
2015	$0	$0
2016	60,448	60,473
2017 and thereafter	1,385,436	1,286,557
Total	1,445,884	1,347,030
B Notes [Member]
Receivables with Imputed Interest [Line Items]
2015	0	0
2016	16,031	16,072
2017 and thereafter	0	0
Total	16,031	16,072
Mezzanine Loans [Member]
Receivables with Imputed Interest [Line Items]
2015	0	0
2016	16,739	16,736
2017 and thereafter	50,732	50,630
Total	67,471	67,366
Whole Loans [Member]
Receivables with Imputed Interest [Line Items]
2015	0	0
2016	27,678	27,665
2017 and thereafter	1,334,704	1,235,927
Total	$1,362,382	$1,263,592

LOANS_Weighted_Average_Life_of1

LOANS (Weighted Average Life of Middle-Market and Bank Loans, at Amortized Cost) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Middle-market Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less than one year	$0	$0
Greater than one year and less than five years	158,183	132,353
Five years or greater	136,610	117,760
Total	294,793	250,113
Bank Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less than one year	1,625	7,829
Greater than one year and less than five years	282,658	274,332
Five years or greater	13,926	48,769
Total	$298,209	$330,930

LOANS_Allocation_of_Allowance_

LOANS (Allocation of Allowance for Loan Loss for Commercial and Bank Loans) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Receivables with Imputed Interest [Line Items]
Allowance for Loan Loss	$7,385	$4,613
B Notes [Member]
Receivables with Imputed Interest [Line Items]
Allowance for Loan Loss	22	55
Percentage of Total Allowance	0.30%	1.19%
Mezzanine Loans [Member]
Receivables with Imputed Interest [Line Items]
Allowance for Loan Loss	98	230
Percentage of Total Allowance	1.33%	4.99%
Whole Loans [Member]
Receivables with Imputed Interest [Line Items]
Allowance for Loan Loss	3,923	3,758
Percentage of Total Allowance	53.12%	81.47%
Bank Loans [Member]
Receivables with Imputed Interest [Line Items]
Allowance for Loan Loss	720	570
Percentage of Total Allowance	9.75%	12.36%
Middle-market Loans [Member]
Receivables with Imputed Interest [Line Items]
Allowance for Loan Loss	2,512
Percentage of Total Allowance	34.01%
Residential Mortgage Loans [Member]
Receivables with Imputed Interest [Line Items]
Allowance for Loan Loss	$110
Percentage of Total Allowance	1.49%

LOANS_Loan_Held_for_Investment

LOANS Loan Held for Investment (Details)	Mar. 31, 2015	Dec. 31, 2014
Commercial Real Estate Loans [Member] | CALIFORNIA
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	26.90%	27.40%
Commercial Real Estate Loans [Member] | Industry Grouping of Healthcare, Education and Childcare [Member]
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	16.70%	17.50%
Commercial Real Estate Loans [Member] | ARIZONA
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	6.80%	7.30%
Commercial Real Estate Loans [Member] | TEXAS
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	26.50%	27.30%
Middle-market Loans [Member] | Hotels, Motels, Inns, and Gaming [Member]
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	11.50%	13.10%
Middle-market Loans [Member] | Hotels, Motels, Inns, and Gaming [Member]
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	10.30%	13.70%
Residential Mortgage Loans [Member] | GEORGIA
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	44.00%	56.00%
Residential Mortgage Loans [Member] | VIRGINIA
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	9.00%	7.00%
Residential Mortgage Loans [Member] | MARYLAND
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	5.00%
Residential Mortgage Loans [Member] | NORTH CAROLINA
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	5.00%
Residential Mortgage Loans [Member] | TENNESSEE
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)		4.00%
Residential Mortgage Loans [Member] | UTAH
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	12.00%	8.00%
Residential Mortgage Loans [Member] | ALABAMA
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)		5.00%

INVESTMENTS_IN_UNCONSOLIDATED_2

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Schedule of Unconsolidated Entities (Details) (USD $)	3 Months Ended			0 Months Ended	1 Months Ended
	Mar. 31, 2015		Mar. 31, 2014	Dec. 01, 2009	Feb. 28, 2014	Jan. 31, 2013	Dec. 31, 2014		Nov. 16, 2011
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Investments in Unconsolidated Entities	$55,488,000	[1]					$59,827,000	[1]
Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries	1,299,000		3,831,000
Varde Investment Partners, L.P
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Ownership %	7.50%
Investments in Unconsolidated Entities	654,000						654,000
Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries	0		-1,000
RRE VIP Borrower, LLC
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Investments in Unconsolidated Entities	0						0
Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries	46,000		866,000
Acquisition of membership interests				2,100,000
Investment in LCC Preferred Stock
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Investments in Unconsolidated Entities	39,469,000						39,416,000		36,300,000
Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries	52,000		-594,000
Investment in CVC Global Credit Opportunities Fund
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Ownership %	20.60%
Investments in Unconsolidated Entities	13,817,000						18,209,000
Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries	608,000		834,000
Investment in Life Care Funding
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Ownership %	50.20%
Investments in Unconsolidated Entities	0						0
Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries	0		-75,000
Acquisition of membership interests					1,400,000	2,000,000
Investment in School Lane House
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Investments in Unconsolidated Entities	0						0
Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries	0		984,000
Investments in Unconsolidated Entities
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Investments in Unconsolidated Entities	53,940,000						58,279,000
Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries	706,000		2,014,000
Investment in RCT I and II
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Ownership %	3.00%
Investments in Unconsolidated Entities	1,548,000						1,548,000
Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries	593,000		589,000
Investment in Preferred Equity
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Investments in Unconsolidated Entities	0						0
Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries	$0		$1,228,000
Minimum [Member] | RRE VIP Borrower, LLC
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Ownership %	3.00%
Maximum [Member] | RRE VIP Borrower, LLC
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Ownership %	5.00%
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

FINANCING_RECEIVABLES_Allowanc

FINANCING RECEIVABLES (Allowance for Loan Losses and Recorded Investments in Loans) (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for losses at beginning of period	$4,613	$13,807
Provision (recovery) for loan losses	3,990	1,804
Loans charged-off	-1,328	-10,998
Recoveries	110
Allowance for losses at end of period	7,385	4,613
Allowance for losses, ending balance:
Individually evaluated for impairment	4,800	570
Collectively evaluated for impairment	2,585	4,043
Loans acquired with deteriorated credit quality	0	0
Loans, ending balance:
Individually evaluated for impairment	462,417	418,920
Individually evaluated for impairment	1,580,339	1,513,232
Loans acquired with deteriorated credit quality	0	0
Commercial Real Estate Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for losses at beginning of period	4,043	10,416
Provision (recovery) for loan losses	0	-3,758
Loans charged-off	0	-2,615
Recoveries	0
Allowance for losses at end of period	4,043	4,043
Allowance for losses, ending balance:
Individually evaluated for impairment	2,202	0
Collectively evaluated for impairment	1,841	4,043
Loans acquired with deteriorated credit quality	0	0
Loans, ending balance:
Individually evaluated for impairment	166,180	166,180
Individually evaluated for impairment	1,279,704	1,180,850
Loans acquired with deteriorated credit quality	0	0
Bank Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for losses at beginning of period	570	3,391
Provision (recovery) for loan losses	1,415	4,173
Loans charged-off	-1,265	-6,994
Recoveries	0
Allowance for losses at end of period	720	570
Allowance for losses, ending balance:
Individually evaluated for impairment	86	570
Collectively evaluated for impairment	634	0
Loans acquired with deteriorated credit quality	0	0
Loans, ending balance:
Individually evaluated for impairment	215	1,350
Individually evaluated for impairment	297,994	329,580
Loans acquired with deteriorated credit quality	0	0
Middle-market Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for losses at beginning of period	0	0
Provision (recovery) for loan losses	2,566	92
Loans charged-off	-54	-92
Recoveries	0
Allowance for losses at end of period	2,512	0
Allowance for losses, ending balance:
Individually evaluated for impairment	2,512	0
Collectively evaluated for impairment	0	0
Loans acquired with deteriorated credit quality	0	0
Loans, ending balance:
Individually evaluated for impairment	294,793	250,113
Individually evaluated for impairment	0	0
Loans acquired with deteriorated credit quality	0	0
Residential Mortgage Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for losses at beginning of period	0	0
Provision (recovery) for loan losses	197	0
Loans charged-off	-197	0
Recoveries	110
Allowance for losses at end of period	110	0
Allowance for losses, ending balance:
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	110	0
Loans acquired with deteriorated credit quality	0	0
Loans, ending balance:
Individually evaluated for impairment	0	0
Individually evaluated for impairment	2,641	2,802
Loans acquired with deteriorated credit quality	0	0
Loans Receivable - Related Party [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for losses at beginning of period	0	0
Provision (recovery) for loan losses	-188	1,297
Loans charged-off	188	-1,297
Recoveries	0
Allowance for losses at end of period	0	0
Allowance for losses, ending balance:
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	0	0
Loans acquired with deteriorated credit quality	0	0
Loans, ending balance:
Individually evaluated for impairment	1,229	1,277
Individually evaluated for impairment	0	0
Loans acquired with deteriorated credit quality	$0	$0

FINANCING_RECEIVABLES_Credit_R

FINANCING RECEIVABLES (Credit Risk Profiles of Bank Loans, Middle Market Loans and Commercial Real Estate Loans) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified			Loan
Schedule Of Financing Receivables [Line Items]
Loans and receivables	$1,969,858	$1,935,793
Loans held for sale	248,451	111,736
Number of defaulted loans	1	2
Middle-market Loans [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	294,793	250,113
Middle-market Loans [Member] | Rating 1 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	0	0
Middle-market Loans [Member] | Rating 2 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	284,937	240,245
Middle-market Loans [Member] | Rating 3 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	4,900	9,868
Middle-market Loans [Member] | Rating 4 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	0	0
Middle-market Loans [Member] | Rating 5 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	4,956	0
Middle-market Loans [Member] | Held for Sale [Member]
Schedule Of Financing Receivables [Line Items]
Loans held for sale	0	0
Bank Loans [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	298,209	330,930
Bank Loans [Member] | Nonperforming Financing Receivable [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	215	1,400
Number of defaulted loans			1
Bank Loans [Member] | Rating 1 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	200,966	291,214
Bank Loans [Member] | Rating 2 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	16,081	32,660
Bank Loans [Member] | Rating 3 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	5,257	5,424
Bank Loans [Member] | Rating 4 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	1,798	0
Bank Loans [Member] | Rating 5 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	215	1,350
Bank Loans [Member] | Held for Sale [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	73,900	282
Loans held for sale	73,892	282
Whole Loans [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	1,362,382	1,263,592
Whole Loans [Member] | Rating 1 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	1,329,882	1,231,092
Whole Loans [Member] | Rating 2 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	32,500	32,500
Whole Loans [Member] | Rating 3 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	0	0
Whole Loans [Member] | Rating 4 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	0	0
Whole Loans [Member] | Held for Sale [Member]
Schedule Of Financing Receivables [Line Items]
Loans held for sale	0	0
B Notes [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	16,031	16,072
B Notes [Member] | Rating 1 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	16,031	16,072
B Notes [Member] | Rating 2 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	0	0
B Notes [Member] | Rating 3 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	0	0
B Notes [Member] | Rating 4 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	0	0
B Notes [Member] | Held for Sale [Member]
Schedule Of Financing Receivables [Line Items]
Loans held for sale	0	0
Mezzanine Loans [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	67,471	67,366
Mezzanine Loans [Member] | Rating 1 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	45,417	45,432
Mezzanine Loans [Member] | Rating 2 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	22,054	21,934
Mezzanine Loans [Member] | Rating 3 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	0	0
Mezzanine Loans [Member] | Rating 4 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	0	0
Mezzanine Loans [Member] | Held for Sale [Member]
Schedule Of Financing Receivables [Line Items]
Loans held for sale	0	0
Commercial Portfolio Segment [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	1,445,884	1,347,030
Commercial Portfolio Segment [Member] | Rating 1 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	1,391,330	1,292,596
Commercial Portfolio Segment [Member] | Rating 2 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	54,554	54,434
Commercial Portfolio Segment [Member] | Rating 3 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	0	0
Commercial Portfolio Segment [Member] | Rating 4 [Member]
Schedule Of Financing Receivables [Line Items]
Loans and receivables	0	0
Commercial Portfolio Segment [Member] | Held for Sale [Member]
Schedule Of Financing Receivables [Line Items]
Loans held for sale	$0	$0

FINANCING_RECEIVABLES_Resident

FINANCING RECEIVABLES Residential Mortgage Loans (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Loan	Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Losses, Included Related Party	$7,385	$4,613	$13,807
Number of defaulted loans	1	2
Residential Mortgage Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Losses, Included Related Party	$110	$0	$0
Number of defaulted loans	2

FINANCING_RECEIVABLES_Loans_Re

FINANCING RECEIVABLES (Loans Receivable - Related Party) (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Provision (recovery) for loan losses	$3,990,000	$1,804,000
Capital Leases, Income Statement, Direct Financing Lease Revenue		2,100,000
30-59 Days	420,000	443,000
60-89 Days	0	82,000
Greater than 90 Days	303,000	1,469,000
Total Past Due	723,000	1,994,000
Current	2,216,592,000	2,041,612,000
Total Loans Receivable	2,217,315,000	2,043,606,000
Total Loans Greater Than 90 days and accruing	0	0
Loans, fair value method elected, unpaid principal balance	173,992,000	169,612,000
Loans and receivables	1,969,858,000	1,935,793,000
Loans held for sale	248,451,000	111,736,000
Whole Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days	0	0
60-89 Days	0	0
Greater than 90 Days	0	0
Total Past Due	0	0
Current	1,362,382,000	1,263,592,000
Total Loans Receivable	1,362,382,000	1,263,592,000
Total Loans Greater Than 90 days and accruing	0	0
Loans, fair value method elected, unpaid principal balance	128,108,000	128,108,000
Loans and receivables	1,362,382,000	1,263,592,000
B Notes [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days	0	0
60-89 Days	0	0
Greater than 90 Days	0	0
Total Past Due	0	0
Current	16,031,000	16,072,000
Total Loans Receivable	16,031,000	16,072,000
Total Loans Greater Than 90 days and accruing	0	0
Loans, fair value method elected, unpaid principal balance	0	0
Loans and receivables	16,031,000	16,072,000
Mezzanine Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days	0	0
60-89 Days	0	0
Greater than 90 Days	0	0
Total Past Due	0	0
Current	67,471,000	67,366,000
Total Loans Receivable	67,471,000	67,366,000
Total Loans Greater Than 90 days and accruing	0	0
Loans, fair value method elected, unpaid principal balance	38,072,000	38,072,000
Loans and receivables	67,471,000	67,366,000
Bank Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Provision (recovery) for loan losses	1,415,000	4,173,000
30-59 Days	0	0
60-89 Days	0	0
Greater than 90 Days	215,000	1,350,000
Total Past Due	215,000	1,350,000
Current	297,994,000	329,580,000
Total Loans Receivable	298,209,000	330,930,000
Total Loans Greater Than 90 days and accruing	0	0
Loans, fair value method elected, unpaid principal balance	215,000	1,350,000
Loans and receivables	298,209,000	330,930,000
Middle-market Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Provision (recovery) for loan losses	2,566,000	92,000
30-59 Days	0	0
60-89 Days	0	0
Greater than 90 Days	0	0
Total Past Due	0	0
Current	294,793,000	250,113,000
Total Loans Receivable	294,793,000	250,113,000
Total Loans Greater Than 90 days and accruing		0
Loans, fair value method elected, unpaid principal balance	4,956,000	0
Loans and receivables	294,793,000	250,113,000
Residential Mortgage Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Provision (recovery) for loan losses	197,000	0
30-59 Days	420,000	443,000
60-89 Days	0	82,000
Greater than 90 Days	88,000	119,000
Total Past Due	508,000	644,000
Current	176,692,000	113,612,000
Total Loans Receivable	177,200,000	114,256,000
Total Loans Greater Than 90 days and accruing	0	0
Loans, fair value method elected, unpaid principal balance	2,641,000	2,082,000
Loans held for sale	174,559,000	111,454,000
Loans Receivable - Related Party [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Provision (recovery) for loan losses	-188,000	1,297,000
30-59 Days	0	0
60-89 Days	0	0
Greater than 90 Days	0	0
Total Past Due	0	0
Current	1,229,000	1,277,000
Total Loans Receivable	1,229,000	1,277,000
Total Loans Greater Than 90 days and accruing	0	0
Loans, fair value method elected, unpaid principal balance	0	0
Held for Sale [Member] | Whole Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans held for sale	0	0
Held for Sale [Member] | B Notes [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans held for sale	0	0
Held for Sale [Member] | Mezzanine Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans held for sale	0	0
Held for Sale [Member] | Bank Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans and receivables	73,900,000	282,000
Loans held for sale	73,892,000	282,000
Held for Sale [Member] | Middle-market Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans held for sale	$0	$0

FINANCING_RECEIVABLES_Impaired

FINANCING RECEIVABLES (Impaired Loans) (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Recorded Balance	$173,992	$169,612
Unpaid Principal Balance	173,992	169,612
Specific Allowance	-2,598	-570
Average Investment in Impaired Loans	171,158	170,599
Interest Income Recognized	16,824	15,686
Whole Loans [Member]
Financing Receivable, Impaired [Line Items]
Loans without a specific valuation allowance, Recorded balance	128,108	128,108
Loans with a specific valuation allowance, Recorded balance	0	0
Recorded Balance	128,108	128,108
Loans without a specific valuation allowance, Unpaid Principal Balance	128,108	128,108
Loans with a specific valuation allowance, Unpaid Principal Balance	0	0
Unpaid Principal Balance	128,108	128,108
Specific Allowance	0	0
Loans without a specific valuation allowance, Average Investment in Impaired Loans	130,445	130,445
Loans with specific valuation allowance, Average Investment in Impaired Loans	0	0
Average Investment in Impaired Loans	130,445	130,445
Loans with a specific valuation allowance, Interest Income Recognized	0	0
Interest Income Recognized	13,617	12,679
Loans without a specific valuation allowance, Interest Income Recognized	13,617	12,679
B Notes [Member]
Financing Receivable, Impaired [Line Items]
Loans without a specific valuation allowance, Recorded balance	0	0
Loans with a specific valuation allowance, Recorded balance	0	0
Recorded Balance	0	0
Loans without a specific valuation allowance, Unpaid Principal Balance	0	0
Loans with a specific valuation allowance, Unpaid Principal Balance	0	0
Unpaid Principal Balance	0	0
Specific Allowance	0	0
Loans without a specific valuation allowance, Average Investment in Impaired Loans	0	0
Loans with specific valuation allowance, Average Investment in Impaired Loans	0	0
Average Investment in Impaired Loans	0	0
Loans with a specific valuation allowance, Interest Income Recognized	0	0
Interest Income Recognized	0	0
Loans without a specific valuation allowance, Interest Income Recognized	0	0
Mezzanine Loans [Member]
Financing Receivable, Impaired [Line Items]
Loans without a specific valuation allowance, Recorded balance	38,072	38,072
Loans with a specific valuation allowance, Recorded balance	0	0
Recorded Balance	38,072	38,072
Loans without a specific valuation allowance, Unpaid Principal Balance	38,072	38,072
Loans with a specific valuation allowance, Unpaid Principal Balance	0	0
Unpaid Principal Balance	38,072	38,072
Specific Allowance	0	0
Loans without a specific valuation allowance, Average Investment in Impaired Loans	38,072	38,072
Loans with specific valuation allowance, Average Investment in Impaired Loans	0	0
Average Investment in Impaired Loans	38,072	38,072
Loans with a specific valuation allowance, Interest Income Recognized	0	0
Interest Income Recognized	3,186	2,859
Loans without a specific valuation allowance, Interest Income Recognized	3,186	2,859
Bank Loans [Member]
Financing Receivable, Impaired [Line Items]
Loans without a specific valuation allowance, Recorded balance	0	0
Loans with a specific valuation allowance, Recorded balance	215	1,350
Recorded Balance	215	1,350
Loans without a specific valuation allowance, Unpaid Principal Balance	0	0
Loans with a specific valuation allowance, Unpaid Principal Balance	215	1,350
Unpaid Principal Balance	215	1,350
Specific Allowance	-86	-570
Loans without a specific valuation allowance, Average Investment in Impaired Loans	0	0
Loans with specific valuation allowance, Average Investment in Impaired Loans	0	0
Average Investment in Impaired Loans	0	0
Loans with a specific valuation allowance, Interest Income Recognized	0	0
Interest Income Recognized	0	0
Loans without a specific valuation allowance, Interest Income Recognized	0	0
Middle-market Loans [Member]
Financing Receivable, Impaired [Line Items]
Loans without a specific valuation allowance, Recorded balance	0	0
Loans with a specific valuation allowance, Recorded balance	4,956	0
Recorded Balance	4,956	0
Loans without a specific valuation allowance, Unpaid Principal Balance	0	0
Loans with a specific valuation allowance, Unpaid Principal Balance	4,956	0
Unpaid Principal Balance	4,956	0
Specific Allowance	-2,512	0
Loans without a specific valuation allowance, Average Investment in Impaired Loans	0	0
Loans with specific valuation allowance, Average Investment in Impaired Loans	0	0
Average Investment in Impaired Loans	0	0
Loans with a specific valuation allowance, Interest Income Recognized	0	0
Interest Income Recognized	0	0
Loans without a specific valuation allowance, Interest Income Recognized	0	0
Residential Mortgage Loans [Member]
Financing Receivable, Impaired [Line Items]
Loans without a specific valuation allowance, Recorded balance	2,641	2,082
Loans with a specific valuation allowance, Recorded balance	0	0
Recorded Balance	2,641	2,082
Loans without a specific valuation allowance, Unpaid Principal Balance	2,641	2,082
Loans with a specific valuation allowance, Unpaid Principal Balance	0	0
Unpaid Principal Balance	2,641	2,082
Specific Allowance	0	0
Loans without a specific valuation allowance, Average Investment in Impaired Loans	2,641	2,082
Loans with specific valuation allowance, Average Investment in Impaired Loans	0	0
Average Investment in Impaired Loans	2,641	2,082
Loans with a specific valuation allowance, Interest Income Recognized	0	0
Interest Income Recognized	21	148
Loans without a specific valuation allowance, Interest Income Recognized	21	148
Loans Receivable - Related Party [Member]
Financing Receivable, Impaired [Line Items]
Loans without a specific valuation allowance, Recorded balance	0	0
Loans with a specific valuation allowance, Recorded balance	0	0
Recorded Balance	0	0
Loans without a specific valuation allowance, Unpaid Principal Balance	0	0
Loans with a specific valuation allowance, Unpaid Principal Balance	0	0
Unpaid Principal Balance	0	0
Specific Allowance	0	0
Loans without a specific valuation allowance, Average Investment in Impaired Loans	0	0
Loans with specific valuation allowance, Average Investment in Impaired Loans	0	0
Average Investment in Impaired Loans	0	0
Loans with a specific valuation allowance, Interest Income Recognized	0	0
Interest Income Recognized	0	0
Loans without a specific valuation allowance, Interest Income Recognized	$0	$0

FINANCING_RECEIVABLES_Loan_Por

FINANCING RECEIVABLES (Loan Portfolio Troubled-debt Restructurings) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
	Loan
Troubled debt restructuring [Abstract]
Number of Loans	2
Pre-Modification Outstanding Recorded Balance	$67,459
Post-Modification Outstanding Recorded Balance	67,459
Whole Loans [Member]
Troubled debt restructuring [Abstract]
Number of Loans	2
Pre-Modification Outstanding Recorded Balance	67,459
Post-Modification Outstanding Recorded Balance	67,459
B Notes [Member]
Troubled debt restructuring [Abstract]
Number of Loans	0
Pre-Modification Outstanding Recorded Balance	0
Post-Modification Outstanding Recorded Balance	0
Mezzanine Loans [Member]
Troubled debt restructuring [Abstract]
Number of Loans	0
Pre-Modification Outstanding Recorded Balance	0
Post-Modification Outstanding Recorded Balance	0
Bank Loans [Member]
Troubled debt restructuring [Abstract]
Number of Loans	0
Pre-Modification Outstanding Recorded Balance	0
Post-Modification Outstanding Recorded Balance	0
Middle-market Loans [Member]
Troubled debt restructuring [Abstract]
Number of Loans	0
Pre-Modification Outstanding Recorded Balance	0
Post-Modification Outstanding Recorded Balance	0
Residential Mortgage Loans [Member]
Troubled debt restructuring [Abstract]
Number of Loans	0
Pre-Modification Outstanding Recorded Balance	0
Post-Modification Outstanding Recorded Balance	0
Loans Receivable - Related Party [Member]
Troubled debt restructuring [Abstract]
Number of Loans	0
Pre-Modification Outstanding Recorded Balance	0
Post-Modification Outstanding Recorded Balance	$0

BUSINESS_COMBINATIONS_Details

BUSINESS COMBINATIONS (Details) (Life Care Funding, LLC [Member], USD $)	0 Months Ended
In Millions, unless otherwise specified	Feb. 27, 2014	Feb. 27, 2015
Life Care Funding, LLC [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ownership percentage in VIE	50.20%
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net		$4.10

INTANGIBLE_ASSETS_Narrative_De

INTANGIBLE ASSETS (Narrative) (Details) (USD $)	3 Months Ended		12 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$507,000	$444,000
Expected amortization, 2015	2,000,000			2,000,000
Expected amortization, 2016	1,800,000			1,800,000
Expected amortization, 2017	1,800,000			1,800,000
Expected amortization, 2018	1,600,000			1,600,000
Expected amortization, 2019	1,000,000			1,000,000
Fee income	1,605,000	2,500,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	6 years 5 months		6 years 7 months
Servicing Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	2,000,000			2,000,000
Expected amortization, 2016	2,000,000			2,000,000
Expected amortization, 2017	1,800,000			1,800,000
Expected amortization, 2018	1,700,000			1,700,000
Expected amortization, 2019	1,100,000			1,100,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life				1 year 4 months	1 year 5 months
Principal Amount Outstanding of Loans Held-in-portfolio	1,160,308,000		894,767,000	1,160,308,000	894,767,000	433,153,000
Investment in RCAM [Member]
Finite-Lived Intangible Assets [Line Items]
Fee income	$965,000	$1,700,000

INTANGIBLE_ASSETS_Intangible_A

INTANGIBLE ASSETS (Intangible Assets) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Thousands, unless otherwise specified
Acquired Finite-Lived Intangible Assets [Line Items]
Asset Balance	$21,813		$21,813
Accumulated Amortization	-12,584		-12,077
Net Asset	9,229	[1]	9,736	[1]
Investment in RCAM [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Asset Balance	21,213		21,213
Accumulated Amortization	-12,223		-11,779
Net Asset	8,990		9,434
Wholesale or Correspondent Relationships [Member] | Investment in PCA [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Asset Balance	600		600
Accumulated Amortization	-361		-298
Net Asset	239		302
Investment in RCAM [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Net Asset			$9,400
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

INTANGIBLE_ASSETS_Mortgage_Ser

INTANGIBLE ASSETS (Mortgage Servicing Rights) (Details) (USD $)	3 Months Ended			12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014	Dec. 31, 2014
Finite-lived Intangible Assets [Roll Forward]
Balance, beginning of period	$21,813
Amortization	-507		-444
Balance, end of period	21,813
Balance, end of period	9,229	[1]		9,736	[1]
Servicing Contracts [Member]
Principal Amount Outstanding of Loans Held-in-portfolio [Roll Forward]
Balance, beginning of period	894,767		433,153	433,153
Additions	212,390			519,915
Payoffs, sales and curtailments	-53,151			58,301
Balance, end of period	1,160,308			894,767
Other Assets [Member] | Servicing Contracts [Member]
Finite-lived Intangible Assets [Roll Forward]
Balance, beginning of period	9,374		4,885	4,885
Amortization	-825			-1,957
Additions	2,936			6,446
Sales	0			0
Balance, end of period	11,485			9,374
Temporary fair value adjustment	-1,050			0
Balance, end of period	$10,435			$9,374
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

INTANGIBLE_ASSETS_Servicing_Ac

INTANGIBLE ASSETS (Servicing Activities) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Expected amortization, 2019	$1,000,000
Servicing Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Expected amortization, 2019	1,100,000
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	2,000,000
Other Income [Member] | Servicing Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Servicing fees from capitalized portfolio	551,000	308,000
Late fees	23,000	22,000
Other ancillary servicing revenue	$3,000	$4,000

BORROWINGS_Schedule_of_Debt_De

BORROWINGS (Schedule of Debt) (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015		Dec. 31, 2014
Debt Instrument [Line Items]
Principal Outstanding	$1,952,765,000		$1,734,901,000
Unamortized Issuance Costs and Discounts	28,167,000		18,030,000
Outstanding Borrowings	1,924,598,000		1,716,871,000
Weighted Average Borrowing Rate	2.46%		2.09%
Weighted Average Remaining Maturity	10 years 9 months		10 years
Value of Collateral	2,391,514,000		2,287,115,000
Accrued interest costs	5,437,000	[1]	2,123,000	[1]
RREF CDO 2006-1 Senior Notes [Member]
Debt Instrument [Line Items]
Principal Outstanding	52,957,000		61,423,000
Unamortized Issuance Costs and Discounts	0		0
Outstanding Borrowings	52,957,000		61,423,000
Weighted Average Borrowing Rate	2.31%		2.12%
Weighted Average Remaining Maturity	31 years 5 months		31 years 7 months
Value of Collateral	130,727,000		139,242,000
RREF CDO 2007-1 Senior Notes [Member]
Debt Instrument [Line Items]
Principal Outstanding	131,780,000		130,340,000
Unamortized Issuance Costs and Discounts	63,000		133,000
Outstanding Borrowings	131,717,000		130,207,000
Weighted Average Borrowing Rate	1.14%		1.19%
Weighted Average Remaining Maturity	31 years 6 months		31 years 9 months
Value of Collateral	258,175,000		271,423,000
RCC CRE Notes 2013 [Member]
Debt Instrument [Line Items]
Principal Outstanding	182,040,000		226,840,000
Unamortized Issuance Costs and Discounts	2,493,000		2,683,000
Outstanding Borrowings	179,547,000		224,157,000
Weighted Average Borrowing Rate	2.28%		2.11%
Weighted Average Remaining Maturity	13 years 8 months		14 years 0 months
Value of Collateral	205,386,000		249,983,000
RCC CRE Notes 2014 [Member]
Debt Instrument [Line Items]
Principal Outstanding	235,344,000		235,344,000
Unamortized Issuance Costs and Discounts	3,682,000		3,687,000
Outstanding Borrowings	231,662,000		231,657,000
Weighted Average Borrowing Rate	1.47%		1.45%
Weighted Average Remaining Maturity	17 years 1 month		17 years 4 months
Value of Collateral	349,063,000		346,585,000
RCC CRE Notes 2015 [Member]
Debt Instrument [Line Items]
Principal Outstanding	282,127,000
Unamortized Issuance Costs and Discounts	4,116,000
Outstanding Borrowings	278,011,000
Weighted Average Borrowing Rate	2.07%
Weighted Average Remaining Maturity	17 years 0 months
Value of Collateral	339,654,000
Apidos CDO III Senior Notes [Member]
Debt Instrument [Line Items]
Principal Outstanding	67,028,000		74,646,000
Unamortized Issuance Costs and Discounts	0		0
Outstanding Borrowings	67,028,000		74,646,000
Weighted Average Borrowing Rate	1.28%		1.18%
Weighted Average Remaining Maturity	5 years 6 months		5 years 8 months
Value of Collateral	78,957,000		85,553,000
Apidos Cinco CDO Senior Notes [Member]
Debt Instrument [Line Items]
Principal Outstanding	229,716,000		255,664,000
Unamortized Issuance Costs and Discounts	72,000		201,000
Outstanding Borrowings	229,644,000		255,463,000
Weighted Average Borrowing Rate	0.87%		0.81%
Weighted Average Remaining Maturity	5 years 1 month		5 years 5 months
Value of Collateral	252,826,000		272,512,000
Moselle CLO S.A. Senior Notes [Member]
Debt Instrument [Line Items]
Principal Outstanding			63,321,000
Unamortized Issuance Costs and Discounts			0
Outstanding Borrowings			63,321,000
Weighted Average Borrowing Rate			1.49%
Weighted Average Remaining Maturity			5 years 0 months
Value of Collateral			93,576,000
Accrued interest costs			20,000
Line of Credit Facility, Fair Value of Amount Outstanding			63,300,000
Moselle CLO S.A. Securitized Borrowings [Member]
Debt Instrument [Line Items]
Principal Outstanding	120,000		5,619,000
Unamortized Issuance Costs and Discounts	0		0
Outstanding Borrowings	120,000		5,619,000
Weighted Average Borrowing Rate			1.49%
Weighted Average Remaining Maturity			5 years 0 months
Value of Collateral	537,000		0
Unsecured Junior Subordinated Debentures [Member]
Debt Instrument [Line Items]
Principal Outstanding	51,548,000		51,548,000
Unamortized Issuance Costs and Discounts	292,000		343,000
Outstanding Borrowings	51,256,000		51,205,000
Weighted Average Borrowing Rate	4.21%		4.19%
Weighted Average Remaining Maturity	21 years 7 months		21 years 9 months
Value of Collateral	0		0
Six Percent Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Principal Outstanding	115,000,000		115,000,000
Unamortized Issuance Costs and Discounts	6,182,000		6,626,000
Outstanding Borrowings	108,818,000		108,374,000
Weighted Average Borrowing Rate	6.00%		6.00%
Weighted Average Remaining Maturity	3 years 8 months		3 years 11 months
Value of Collateral	0		0
Eight Percent Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Principal Outstanding	100,000,000
Unamortized Issuance Costs and Discounts	7,052,000
Outstanding Borrowings	92,948,000
Weighted Average Borrowing Rate	8.00%
Weighted Average Remaining Maturity	4 years 9 months
Value of Collateral	0
CRE - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Principal Outstanding	93,734,000		207,640,000
Unamortized Issuance Costs and Discounts	1,583,000		1,958,000
Outstanding Borrowings	92,151,000		205,682,000
Weighted Average Borrowing Rate	2.21%		2.43%
Weighted Average Remaining Maturity	18 days		20 days
Value of Collateral	135,951,000		297,571,000
Accrued interest costs	75,000		198,000
Repurchase Agreements Debt [Member]
Debt Instrument [Line Items]
Principal Outstanding			24,967,000
Unamortized Issuance Costs and Discounts			0
Outstanding Borrowings			24,967,000
Weighted Average Borrowing Rate			1.35%
Weighted Average Remaining Maturity			20 days
Value of Collateral			30,180,000
CMBS - Term Repurchase Facilities [Member]
Debt Instrument [Line Items]
Principal Outstanding	29,391,000
Unamortized Issuance Costs and Discounts	0
Outstanding Borrowings	29,391,000
Weighted Average Borrowing Rate	1.37%
Weighted Average Remaining Maturity	18 days
Value of Collateral	35,977,000
Accrued interest costs	13,000		12,000
RMBS - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Principal Outstanding	104,547,000		22,248,000
Unamortized Issuance Costs and Discounts	125,000		36,000
Outstanding Borrowings	104,422,000		22,212,000
Weighted Average Borrowing Rate	2.43%		1.16%
Weighted Average Remaining Maturity	25 days		1 day
Value of Collateral	121,472,000		27,885,000
Accrued interest costs	39,000		31,000
Mortgages [Member]
Debt Instrument [Line Items]
Principal Outstanding			102,576,000
Unamortized Issuance Costs and Discounts			0
Outstanding Borrowings			102,576,000
Weighted Average Borrowing Rate			2.78%
Weighted Average Remaining Maturity			207 days
Value of Collateral			147,472,000
CMBS - Short Term Repurchase Agreements [Member]
Debt Instrument [Line Items]
Principal Outstanding	67,785,000		44,225,000
Unamortized Issuance Costs and Discounts	0		0
Outstanding Borrowings	67,785,000		44,225,000
Weighted Average Borrowing Rate	1.63%		1.63%
Weighted Average Remaining Maturity	18 days		17 days
Value of Collateral	94,857,000		62,446,000
Residential Mortgage Financing Agreements [Member]
Debt Instrument [Line Items]
Principal Outstanding	74,648,000
Unamortized Issuance Costs and Discounts	0
Outstanding Borrowings	74,648,000
Weighted Average Borrowing Rate	2.78%
Weighted Average Remaining Maturity	130 days
Value of Collateral	95,479,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Principal Outstanding	135,000,000		113,500,000
Unamortized Issuance Costs and Discounts	2,507,000		2,363,000
Outstanding Borrowings	132,493,000		111,137,000
Weighted Average Borrowing Rate	2.68%		2.66%
Weighted Average Remaining Maturity	2 years 6 months		2 years 8 months
Value of Collateral	$292,453,000		$262,687,000
[1]	March 31, 2015 December 31, 2014Liabilities of consolidated VIEs included in the total liabilities above: Borrowings $1,170,687 $1,046,494 Accrued interest expense1,329 1,000 Derivatives, at fair value7,305 8,439Unsettled loan purchases— (529) Accounts payable and other liabilities56 (386) Total liabilities of consolidated VIEs$1,179,377 $1,055,018

BORROWINGS_Securitization_Deta

BORROWINGS (Securitization) (Details) (USD $)	Mar. 31, 2015
In Millions, unless otherwise specified
RREF CDO 2006-1 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	$194.20
RREF CDO 2007-1 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	209.2
RCC CRE Notes 2013 [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	78.8
RCC CRE Notes 2014 [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	0
RCC CRE Notes 2015 [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	0
Apidos CDO III Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	195.5
Apidos Cinco CDO Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	92.3
Moselle CLO S.A. Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	167.2
Moselle CLO S.A. Securitized Borrowings [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	$5

BORROWINGS_NarrativeRCC_2015CR

BORROWINGS Narrative-RCC 2015-CRE3 (Details) (USD $)	12 Months Ended	1 Months Ended
	Dec. 31, 2014	Feb. 28, 2015	Feb. 24, 2015	Dec. 31, 2013
Debt Instrument [Line Items]
Percentage of senior notes acquired by the parent		100.00%
Debt Instrument, Face Amount		$282,100,000
RCC CRE Notes 2015 [Member]
Debt Instrument [Line Items]
Closing transaction amount			346,200,000
Ownership interests in variable interest entity		100.00%
RCC CRE Notes 2013 [Member]
Debt Instrument [Line Items]
Closing transaction amount				307,800,000
RCC CRE Notes 2013 [Member] | Senior Notes Class E [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	20,800,000
Basis spread on variable rate	4.75%
RCC CRE Notes 2013 [Member] | Senior Notes Class F [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	15,600,000
Basis spread on variable rate	5.50%
RCC CRE Notes 2013 [Member] | Senior Notes Class A [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	193,900,000
Basis spread on variable rate	1.40%
RCC CRE Notes 2013 [Member] | Senior Notes Class A-S [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	17,300,000
Basis spread on variable rate	1.65%
RCC CRE Notes 2013 [Member] | Senior Notes Class B [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	19,500,000
Basis spread on variable rate	2.40%
RCC CRE Notes 2013 [Member] | Senior Notes Class C [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	20,800,000
Basis spread on variable rate	3.15%
RCC CRE Notes 2013 [Member] | Senior Notes Class D [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	30,700,000
Basis spread on variable rate	4.00%
RCC Commercial [Member] | RCC CRE Notes 2015 [Member]
Debt Instrument [Line Items]
Payments by parent to acquire notes issued by VIE		27,700,000
RCC Commercial [Member] | RCC CRE Notes 2015 [Member] | Senior Notes Class E [Member]
Debt Instrument [Line Items]
Payments by parent to acquire notes issued by VIE		20,800,000
RCC Commercial [Member] | RCC CRE Notes 2015 [Member] | Senior Notes Class F [Member]
Debt Instrument [Line Items]
Payments by parent to acquire notes issued by VIE		$15,600,000

BORROWINGS_NarrativeMoselle_CL

BORROWINGS (Narrative)-Moselle CLO S.A. (Details) (Moselle CLO S.A. Securitized Borrowings [Member], USD $)	Mar. 31, 2015
In Millions, unless otherwise specified
Moselle CLO S.A. Securitized Borrowings [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Cumulative Amount Repaid	$5

BORROWINGS_NarrativeConvertibl

BORROWINGS (Narrative)-Convertible Senior Notes (Details) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Jan. 13, 2015	Oct. 21, 2013	Feb. 28, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Debt Instrument, Face Amount					$282,100,000
Reissuance of debt	8,100,000	0
Outstanding Borrowings	1,924,598,000					1,716,871,000
Convertible Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			8.00%
Convertible Debt [Member] | Eight Percent Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			100,000,000
Reissuance of debt			97,000,000
Debt Instrument, Unamortized Discount				1,000,000
Outstanding Borrowings				$2,100,000
Debt Conversion, Converted Instrument, Shares Issuable Upon Conversion				187.4414
Debt Instrument, Convertible, Conversion Price						$5.34

BORROWINGS_Repurchase_and_Mort

BORROWINGS (Repurchase and Mortgage Finance Facilities) (Details) (USD $)	Mar. 31, 2015		Feb. 28, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Outstanding Borrowings			$282,100,000
Linked Transactions, Fair Value Disclosure	0	[1]		15,367,000	[1]
Weighted Average Interest Rate	2.46%			2.09%
Long-term debt, gross	1,952,765,000			1,734,901,000
Outstanding Borrowings	1,924,598,000			1,716,871,000
RCC Real Estate [Member] | Deutsche Bank Securities, Inc [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	145,000			268,000
Repurchase Agreements [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	368,397,000
Value of Collateral	483,736,000
Long-term debt, gross				399,662,000
CMBS bonds held as collateral, fair value				565,554,000
Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	28,229,000			61,189,000
Value of Collateral	41,790,000			95,511,000
Number of Positions as Collateral	78			104
Weighted Average Interest Rate	2.75%			2.75%
Repurchase Agreements [Member] | Wells Fargo Securities, LLC [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	14,536,000			10,442,000
Value of Collateral	23,929,000			17,695,000
Number of Positions as Collateral	1			1
Weighted Average Interest Rate	1.59%			1.66%
Repurchase Agreements [Member] | Deutsche Bank Securities, Inc [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	53,249,000			33,783,000
Value of Collateral	70,928,000			44,751,000
Number of Positions as Collateral	8			8
Weighted Average Interest Rate	1.62%			1.62%
Repurchase Agreements [Member] | New Century Bank [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	46,419,000			41,387,000
Value of Collateral	53,689,000			51,961,000
Number of Positions as Collateral	231			158
Weighted Average Interest Rate	2.80%			2.82%
CMBS - Term Repurchase Facilities [Member] | Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	29,391,000			24,967,000
Value of Collateral	35,977,000			30,180,000
Number of Positions as Collateral	34			33
Weighted Average Interest Rate	1.37%			1.35%
CRE - Term Repurchase Facility [Member] | Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	92,296,000			179,762,000
Value of Collateral	135,951,000			258,223,000
Number of Positions as Collateral	5			15
Weighted Average Interest Rate	2.21%			2.38%
CRE - Term Repurchase Facility [Member] | Repurchase Agreements [Member] | Deutsche Bank Securities, Inc [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	-145,000			25,920,000
Value of Collateral	0			39,348,000
Number of Positions as Collateral	0			2
Weighted Average Interest Rate	0.00%			2.78%
RMBS - Term Repurchase Facility [Member] | Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	104,422,000			22,212,000
Value of Collateral	121,472,000			27,885,000
Number of Positions as Collateral	146			6
Weighted Average Interest Rate	2.43%			1.16%
Outstanding Borrowings	125,000			36,000
CMBS - Term Repurchase Facilities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.37%
Long-term debt, gross	29,391,000
Outstanding Borrowings	29,391,000
CRE - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.21%			2.43%
Long-term debt, gross	93,734,000			207,640,000
Outstanding Borrowings	92,151,000			205,682,000
CRE - Term Repurchase Facility [Member] | RCC Real Estate [Member] | Wells Fargo Bank, National Association [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	1,400,000			1,700,000
Linked Transactions [Member]
Debt Instrument [Line Items]
Outstanding Borrowings				33,397,000
Linked Transactions, Fair Value Disclosure				48,605,000
Linked Transactions [Member] | Repurchase Agreements [Member] | JP Morgan Securities, LLC [Member]
Debt Instrument [Line Items]
Outstanding Borrowings				0
Linked Transactions, Fair Value Disclosure				0
Number of Positions as Collateral				0
Weighted Average Interest Rate				0.00%
Linked Transactions [Member] | Repurchase Agreements [Member] | Wells Fargo Securities, LLC [Member]
Debt Instrument [Line Items]
Outstanding Borrowings				4,108,000
Linked Transactions, Fair Value Disclosure				6,233,000
Number of Positions as Collateral				2
Weighted Average Interest Rate				1.37%
Linked Transactions [Member] | Repurchase Agreements [Member] | Deutsche Bank Securities, Inc [Member]
Debt Instrument [Line Items]
Outstanding Borrowings				24,348,000
Linked Transactions, Fair Value Disclosure				36,001,000
Number of Positions as Collateral				10
Weighted Average Interest Rate				1.57%
Linked Transactions [Member] | CMBS - Term Repurchase Facilities [Member] | Wells Fargo Bank, National Association [Member]
Debt Instrument [Line Items]
Outstanding Borrowings				4,941,000
Linked Transactions, Fair Value Disclosure				$6,371,000
Number of Positions as Collateral				7
Weighted Average Interest Rate				1.67%
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

BORROWINGS_Amount_at_Risk_Unde

BORROWINGS (Amount at Risk Under Repurchase Facilities) (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Weighted Average Remaining Maturity	10 years 9 months	10 years
Weighted Average Interest Rate	2.46%	2.09%
CMBS - Term Repurchase Facilities [Member]
Debt Instrument [Line Items]
Weighted Average Remaining Maturity	18 days
Weighted Average Interest Rate	1.37%
RMBS - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Weighted Average Remaining Maturity	25 days	1 day
Weighted Average Interest Rate	2.43%	1.16%
CRE - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Weighted Average Remaining Maturity	18 days	20 days
Weighted Average Interest Rate	2.21%	2.43%
Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.75%	2.75%
Repurchase Agreements [Member] | Wells Fargo Securities, LLC [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.59%	1.66%
Repurchase Agreements [Member] | Deutsche Bank Securities, Inc [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.62%	1.62%
Repurchase Agreements [Member] | New Century Bank [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.80%	2.82%
Linked and Non-linked Transactions [Member] | CMBS - Term Repurchase Facilities [Member] | Wells Fargo Bank, National Association [Member]
Debt Instrument [Line Items]
Amount at Risk	6,176	6,486
Weighted Average Remaining Maturity	18 days	20 days
Weighted Average Interest Rate	1.37%	1.35%
Linked and Non-linked Transactions [Member] | RMBS - Term Repurchase Facility [Member] | Wells Fargo Bank, National Association [Member]
Debt Instrument [Line Items]
Amount at Risk	16,804	5,017
Weighted Average Remaining Maturity	25 days	1 day
Weighted Average Interest Rate	2.43%	1.16%
Linked and Non-linked Transactions [Member] | CRE - Term Repurchase Facility [Member] | Wells Fargo Bank, National Association [Member]
Debt Instrument [Line Items]
Amount at Risk	42,763	76,148
Weighted Average Remaining Maturity	18 days	20 days
Weighted Average Interest Rate	2.21%	2.38%
Linked and Non-linked Transactions [Member] | CRE - Term Repurchase Facility [Member] | Deutsche Bank Securities, Inc [Member]
Debt Instrument [Line Items]
Amount at Risk		13,017
Weighted Average Remaining Maturity		19 days
Weighted Average Interest Rate		2.78%
Linked and Non-linked Transactions [Member] | Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member]
Debt Instrument [Line Items]
Amount at Risk	13,561	6,902
Weighted Average Remaining Maturity	93 days	183 days
Weighted Average Interest Rate	2.75%	2.75%
Linked and Non-linked Transactions [Member] | Repurchase Agreements [Member] | Wells Fargo Securities, LLC [Member]
Debt Instrument [Line Items]
Amount at Risk	8,964	2,127
Weighted Average Remaining Maturity	6 days	9 days
Weighted Average Interest Rate	1.59%	1.66%
Linked and Non-linked Transactions [Member] | Repurchase Agreements [Member] | Deutsche Bank Securities, Inc [Member]
Debt Instrument [Line Items]
Amount at Risk	17,452	11,810
Weighted Average Remaining Maturity	21 days	20 days
Weighted Average Interest Rate	1.62%	1.62%
Linked and Non-linked Transactions [Member] | Repurchase Agreements [Member] | New Century Bank [Member]
Debt Instrument [Line Items]
Amount at Risk	7,270	853
Weighted Average Remaining Maturity	152 days	242 days
Weighted Average Interest Rate	2.80%	2.82%

BORROWINGS_Narrative_Residenti

BORROWINGS (Narrative) Residential Investments and Mortgage Financing (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Jan. 31, 2015
Debt Instrument [Line Items]
Debt Instrument, Covenant Requirement, Minimum Liquidity	7,500,000
Wells Fargo Bank, National Association [Member] | RMBS - Term Repurchase Facility [Member] | Linked and Non-linked Transactions [Member]
Debt Instrument [Line Items]
Maximum amount of facility		110,000,000
Debt instrument, interest rate, stated percentage rate range, maximum	1.45%
Wells Fargo Bank, National Association [Member] | Jumbo Loans - Term Repurchase Facility [Member] | Linked and Non-linked Transactions [Member]
Debt Instrument [Line Items]
Maximum amount of facility		$165,000,000
Debt instrument, interest rate, stated percentage rate range, maximum	3.00%

BORROWINGS_NarrativeSenior_Sec

BORROWINGS (Narrative)-Senior Secured Revolving Credit Facility (Details) (Revolving Credit Facility [Member], USD $)	Mar. 31, 2015	Sep. 18, 2014
Debt Instrument [Line Items]
Line of credit facility, increase borrowing capacity	$15,000,000
Northport LLC [Member]
Debt Instrument [Line Items]
Maximum amount of facility	225,000,000	110,000,000
Line of credit facility, increase borrowing capacity	15,000,000
Line of credit facility, maximum borrowing capacity, effective commitment	125,000,000
Northport LLC [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity, effective commitment	$140,000,000

SHARE_ISSUANCE_AND_REPURCHASE_1

SHARE ISSUANCE AND REPURCHASE (Details) (USD $)	1 Months Ended	3 Months Ended
	Jun. 30, 2014	Mar. 31, 2015	Dec. 31, 2014
Redeemable Preferred Stock Series A [Member]
Class of Stock [Line Items]
Stock issued during period, shares, new issues		0
Stock issued during period, weighted average offering price per share, new issues	$24.05	$0
Preferred stock, shares outstanding (in shares)		1,069,016	1,069,016
Preferred stock, coupon authorized (in hundredths)		8.50%
Redeemable Preferred Stock Series B [Member]
Class of Stock [Line Items]
Stock issued during period, shares, new issues		139,333
Stock issued during period, weighted average offering price per share, new issues	$23.81	$22.34
Preferred stock, shares outstanding (in shares)		5,740,479	5,601,146
Preferred stock, coupon authorized (in hundredths)		8.25%
Redeemable Preferred Stock Series C [Member]
Class of Stock [Line Items]
Stock issued during period, shares, new issues		0
Stock issued during period, weighted average offering price per share, new issues	$25	$0
Preferred stock, shares outstanding (in shares)		4,800,000	4,800,000
Preferred stock, coupon authorized (in hundredths)		8.63%

SHARE_ISSUANCE_AND_REPURCHASE_2

SHARE ISSUANCE AND REPURCHASE (Narrative) (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Mar. 21, 2013
Class of Stock [Line Items]
Shares issued from dividend reinvestment plan (in shares)	22,000
Proceeds from dividend reinvestment plan	$106
Redeemable Preferred Stock Series A [Member]
Class of Stock [Line Items]
Preferred stock, liquidation preference (in dollars per share)	$25	$25
Redeemable Preferred Stock Series B [Member]
Class of Stock [Line Items]
Preferred stock, liquidation preference (in dollars per share)	$25	$25
Redeemable Preferred Stock Series C [Member]
Class of Stock [Line Items]
Preferred stock, liquidation preference (in dollars per share)	$25	$25
Dividend Reinvestment Plan March 21 2013 [Member] | Common Stock [Member]
Class of Stock [Line Items]
Shares authorized for dividend reinvestment plan (in shares)			20,000,000

SHAREBASED_COMPENSATION_Detail

SHARE-BASED COMPENSATION (Details) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Sep. 24, 2014	Mar. 30, 2014	Oct. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Rate of Award Vesting Rights	25.00%
Shares issued pursuant to the Management agreement (in shares)	0
Issuance of restricted stock	$1,163,000	$640,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of non employee directors granted shares (directors)	7
Estimated fair value of shares granted	5,600,000	3,700,000
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual Term	3 years
Loan Origination Performance Plan [Member] | Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized			70,728
Share grants on achievement of performance threshold (in shares)				35,364
Dividends payable on performance shares granted and earned				21,000
Equity Compensation Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	166,000	160,000
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	43,000	52,000
Primary Capital Advisors LLC [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired					7,600,000
Issuance of restricted stock					$800,000

SHAREBASED_COMPENSATION_Restri

SHARE-BASED COMPENSATION (Restricted Stock Activity) (Details)	3 Months Ended
	Mar. 31, 2015
February 3, 2015 | 2007 Omnibus Equity Compensation Plan [Member] | Restricted Stock [Member]
Restricted common stock transactions [Roll Forward]
Shares	7,276
Vesting/Year	100.00%
February 5, 2015 | 2007 Omnibus Equity Compensation Plan [Member] | Restricted Stock [Member]
Restricted common stock transactions [Roll Forward]
Shares	966,095
Vesting/Year	33.30%
February 5, 2015 | 2007 Omnibus Equity Compensation Plan [Member] | Restricted Stock [Member]
Restricted common stock transactions [Roll Forward]
Shares	115,271
Vesting/Year	33.30%
March 9, 2015 | 2007 Omnibus Equity Compensation Plan [Member] | Restricted Stock [Member]
Restricted common stock transactions [Roll Forward]
Shares	32,186
Vesting/Year	100.00%
March 12, 2015 | 2007 Omnibus Equity Compensation Plan [Member] | Restricted Stock [Member]
Restricted common stock transactions [Roll Forward]
Shares	7,625
Vesting/Year	100.00%
March 31, 2015 | 2007 Omnibus Equity Compensation Plan [Member] | Restricted Stock [Member]
Restricted common stock transactions [Roll Forward]
Shares	35,364
Vesting/Year	100.00%
Non Employee Directors [Member]
Restricted common stock transactions [Roll Forward]
Unvested shares, beginning of period (in shares)	49,203
Issued (shares)	47,087
Vested (shares)	-37,786
Forfeited (shares)	0
Unvested shares, end of period (in shares)	58,504
Non-Employees [Member]
Restricted common stock transactions [Roll Forward]
Unvested shares, beginning of period (in shares)	1,812,853
Issued (shares)	1,001,459
Vested (shares)	-340,636
Forfeited (shares)	0
Unvested shares, end of period (in shares)	2,473,676
Employees [Member]
Restricted common stock transactions [Roll Forward]
Unvested shares, beginning of period (in shares)	161,583
Issued (shares)	115,271
Vested (shares)	-7,439
Forfeited (shares)	-1,271
Unvested shares, end of period (in shares)	268,144
Manager and Non Employees [Member]
Restricted common stock transactions [Roll Forward]
Unvested shares, beginning of period (in shares)	2,023,639
Issued (shares)	1,163,817
Vested (shares)	-385,861
Forfeited (shares)	-1,271
Unvested shares, end of period (in shares)	2,800,324

SHAREBASED_COMPENSATION_Status

SHARE-BASED COMPENSATION (Status of Vested Stock Options) (Details) (Vested [Member], USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015
Vested [Member]
Stock options outstanding [Roll Forward]
Outstanding beginning of period (in shares)	640,666
Vested (in shares)	0
Exercised (in shares)	0
Forfeited (in shares)	0
Outstanding end of period (in shares)	640,666
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding beginning of period (in dollars per share)	$14.45
Vested (in dollars per share)	$0
Exercised (in dollars per share)	$0
Forfeited (usd per share)	$0
Outstanding end of period (in dollars per share)	$14.45
Weighted Average Remaining Contractual Term (in years)	9 months 18 days
Aggregate Intrinsic Value (in thousands)	$0

SHAREBASED_COMPENSATION_Compon

SHARE-BASED COMPENSATION (Components of Equity Compensation Expense) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity compensation expense	$995	$1,667
Manager and Non Employees [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity compensation expense	0	-2
Manager and Non Employees [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity compensation expense	764	1,429
Employees [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity compensation expense	167	175
Non Employee Directors [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity compensation expense	$64	$65

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Basic: [Abstract]
Net income allocable to common shares	$9,402	$15,116
Weighted average number of shares outstanding	131,256,909	125,616,537
Basic net income per share (in dollars per share)	$0.07	$0.12
Diluted: [Abstract]
Net income allocable to common shares	$9,402	$15,116
Weighted average number of shares outstanding	131,256,909	125,616,537
Additional shares due to assumed conversion of dilutive instruments	1,047,508	1,051,077
Adjusted weighted-average number of common shares outstanding	132,304,417	126,667,614
Diluted net income per share (in dollars per share)	$0.07	$0.12
Dilutive shares excluded from calculation of diluted net income per share	36,011,413	17,907,939

ACCUMULATED_OTHER_COMPREHENSIV2

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
1-Jan-15	$6,043
Unrealized gains on derivatives, net	1,142	387
Unrealized gains (losses) on available-for-sale securities, net	3,123	-1,754
Foreign currency translation adjustment	429	-196
Other comprehensive gain (loss) before reclassifications	4,694
Reclassification adjustments associated with unrealized gains (losses) from interest rate hedges included in net income	90	70
Reclassification adjustment for (gains) losses on available-for-sale securities included in net income	-6,258	1,465
Amounts reclassified from accumulated other comprehensive income	-6,168
Net current-period other comprehensive income	-1,474
Unrealized (gains) losses on available-for-sale securities allocable to non-controlling interests	807	0
31-Mar-15	5,376
Net unrealized (loss) gain on derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
1-Jan-15	-8,967
Unrealized gains on derivatives, net	1,142
Reclassification adjustments associated with unrealized gains (losses) from interest rate hedges included in net income	90
Net current-period other comprehensive income	1,232
Unrealized (gains) losses on available-for-sale securities allocable to non-controlling interests	0
31-Mar-15	-7,735
Net unrealized (loss) gain on securities, available-for-sale [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
1-Jan-15	15,422
Unrealized gains (losses) on available-for-sale securities, net	3,123
Reclassification adjustment for (gains) losses on available-for-sale securities included in net income	-6,258
Net current-period other comprehensive income	-3,135
Unrealized (gains) losses on available-for-sale securities allocable to non-controlling interests	807
31-Mar-15	13,094
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
1-Jan-15	-412
Foreign currency translation adjustment	429
Net current-period other comprehensive income	429
Unrealized (gains) losses on available-for-sale securities allocable to non-controlling interests	0
31-Mar-15	$17

RELATED_PARTY_TRANSACTIONS_Rel

RELATED PARTY TRANSACTIONS (Relationship with Resource America) (Details) (USD $)	3 Months Ended			12 Months Ended		0 Months Ended	1 Months Ended		0 Months Ended
	Mar. 31, 2015		Mar. 31, 2014	Dec. 31, 2014		Nov. 07, 2013	Feb. 28, 2015	Sep. 30, 2014	Jul. 09, 2014	Jun. 17, 2011	Nov. 24, 2010
Related Party Transaction [Line Items]
Provision (recovery) for loan losses	$3,990,000			$1,804,000
Direct financing leases	1,951,000	[1]		2,109,000	[1]
Base management fees paid by the Company	3,560,000		3,080,000
General and administrative - Corporate	4,783,000		2,840,000
Purchase of securities, trading	-16,268,000		0
Investment securities, trading	29,770,000	[1]		20,786,000	[1]
Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries	1,299,000		3,831,000
Investments in unconsolidated entities	55,488,000	[1]		59,827,000	[1]
Resource America [Member]
Related Party Transaction [Line Items]
Loan origination fee	2.00%
Resource Capital Corp [Member] | Resource America [Member]
Related Party Transaction [Line Items]
Number of common shares of the Company owned by a related party (in shares)	2,861,592
Ownership percentage (percent)	2.10%
Restricted stock options to purchase restricted shares in Company owned by a related party (shares)	2,166
Resource Capital Corp [Member] | Manager pursuant to the Management Agreement [Member]
Related Party Transaction [Line Items]
Base management fees paid by the Company	3,400,000		2,900,000
Incentive management fees	0		1,900,000
General and administrative - Corporate	1,100,000		990,000
Maximum investment amount (up to $5 million)											5,000,000
Additional investment per Investment Management Agreement										8,000,000
Management fee as a percentage of net profits in excess of preferred return (percent)											20.00%
Total indebtedness	1,900,000			1,600,000
Accrued base management fees	1,100,000			1,200,000
Expense reimbursement payable	750,000			480,000
Number of executed CDO transactions (transactions)	10			9
Resource Capital Corp [Member] | Resource Capital Markets, Inc. [Member]
Related Party Transaction [Line Items]
Base management fees paid by the Company	0
Purchase of securities, trading	-500,000
Share of net profits as per the Investment Management Agreement	0
Investment securities, trading	3,900,000			3,400,000
Expense reimbursements	32,000		75,000
Total indebtedness	179,000			121,000
Elevation Home Loans, LLC [Member]
Related Party Transaction [Line Items]
Purchase of membership interests						830,000
Purchase of membership interests, number of shares of restricted Company common stock issued as consideration						136,659
Pelium [Member]
Related Party Transaction [Line Items]
Ownership percentage (percent)	71.80%							80.40%
Acquisition of membership interests							2,500,000	17,500,000
Contributions								40,000,000
Ownership interest								10.00%
Ownership interest increase	20.00%							20.00%
CVC Global Credit Opportunities Fund, LP [Member]
Related Party Transaction [Line Items]
Ownership percentage (percent)	20.60%
Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries	608,000		834,000
Investments in unconsolidated entities	13,817,000			18,209,000
RCM Global Manager, LLC [Member] | RCC Residential, Inc. [Member]
Related Party Transaction [Line Items]
Ownership percentage in VIE	53.20%								63.80%
Commercial Real Estate Loans [Member] | Resource Real Estate [Member]
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party	$7,500			$100,000
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

RELATED_PARTY_TRANSACTIONS_Rel1

RELATED PARTY TRANSACTIONS (Relationship with LEAF Financial) (Details) (USD $)	3 Months Ended			12 Months Ended		0 Months Ended				12 Months Ended
	Mar. 31, 2015		Mar. 31, 2014	Dec. 31, 2014		Mar. 05, 2010	Jan. 11, 2013	Feb. 15, 2012	Sep. 03, 2011	Mar. 05, 2011	Nov. 16, 2011
Related Party Transaction [Line Items]
Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries	$1,299,000		$3,831,000
Investments in unconsolidated entities	55,488,000	[1]		59,827,000	[1]
Provision (recovery) for loan losses	3,990,000			1,804,000
Direct financing leases	1,951,000	[1]		2,109,000	[1]
Lease Equity Appreciation Fund II [Member]
Related Party Transaction [Line Items]
Origination fee with establishment of line of credit facility (in hundredths)						1.00%
Resource Capital Corp [Member] | Lease Equity Appreciation Fund II [Member]
Related Party Transaction [Line Items]
Maximum amount of facility						8,000,000
Line of credit facility, term (in years)										1 year
Line of credit facility, interest rate during period (in hundredths)	10.00%							12.00%
Line of credit facility, extension fee percentage (in hundredths)							1.00%	1.00%	1.00%
Investment in LCC Preferred Stock
Related Party Transaction [Line Items]
Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries	52,000		-594,000
Investments in unconsolidated entities	39,469,000			39,416,000							36,300,000
Loans Receivable - Related Party [Member]
Related Party Transaction [Line Items]
Provision (recovery) for loan losses	($188,000)			$1,297,000
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

RELATED_PARTY_TRANSACTIONS_Rel2

RELATED PARTY TRANSACTIONS (Relationship with CVC Credit Partners, LLC) (Details) (USD $)	3 Months Ended			1 Months Ended	0 Months Ended	1 Months Ended	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014	Oct. 31, 2012	Feb. 24, 2011	31-May-13	Jul. 31, 2013	Dec. 31, 2014		Nov. 16, 2011
	Entity
Related Party Transaction [Line Items]
Number of CLO issuers	5
Income (Loss) and Interest Expense from Equity Method Investments	$1,299,000		$3,831,000
Investments in unconsolidated entities	55,488,000	[1]						59,827,000	[1]
Churchill Pacific Asset Management LLC [Member]
Related Party Transaction [Line Items]
Assets under management, carrying amount	1,900,000,000
CVC Credit Partners, LLC [Member]
Related Party Transaction [Line Items]
Asset management fees percentage (in hundredths)	1.50%
Resource America [Member] | CVC Capital Partners [Member]
Related Party Transaction [Line Items]
Ownership percentage (percent)	33.00%
Resource Capital Corp [Member]
Related Party Transaction [Line Items]
Preferred equity interest acquired				66.60%
Resource Capital Corp [Member] | Churchill Pacific Asset Management LLC [Member]
Related Party Transaction [Line Items]
Ownership percentage (percent)					100.00%
Purchase price of acquired entity paid by acquiring entity					22,500,000
Apidos Capital Management LLC [Member] | CVC Capital Partners [Member]
Related Party Transaction [Line Items]
Percentage of subordinated fees the company is entitled to collect (in hundredths)	10.00%
Percentage of incentive fees the company is entitled to collect (in hundredths)	50.00%
Subordinated fees received	237,000		370,000
Whitney CLO I, Ltd. [Member]
Related Party Transaction [Line Items]
Ownership percentage in VIE						68.30%
Investment in LCC Preferred Stock
Related Party Transaction [Line Items]
Income (Loss) and Interest Expense from Equity Method Investments	52,000		-594,000
Investments in unconsolidated entities	39,469,000							39,416,000		36,300,000
CVC Global Credit Opportunities Fund, LP [Member]
Related Party Transaction [Line Items]
Ownership percentage (percent)	20.60%
Income (Loss) and Interest Expense from Equity Method Investments	608,000		834,000
Proceeds from Divestiture of Businesses and Interests in Affiliates	5,000,000
Investments in unconsolidated entities	13,817,000							18,209,000
CVC Global Credit Opportunities Fund, LP [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Related Party Transaction [Line Items]
Acquisition of membership interests							$15,000,000
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

RELATED_PARTY_TRANSACTIONS_Rel3

RELATED PARTY TRANSACTIONS (Relationship with Resource Real Estate) (Details) (USD $)

0 Months Ended

1 Months Ended

3 Months Ended

1 Months Ended

0 Months Ended

1 Months Ended

0 Months Ended

11 Months Ended

0 Months Ended

12 Months Ended

0 Months Ended

Jul. 30, 2014

Dec. 31, 2013

Mar. 31, 2015

Mar. 31, 2014

Sep. 30, 2014

Aug. 09, 2006

Feb. 28, 2015

Dec. 01, 2009

23-May-12

Jun. 21, 2011

23-May-12

Jul. 09, 2014

Jan. 15, 2010

Dec. 31, 2014

Feb. 24, 2015

Related Party Transaction [Line Items]

Direct financing leases

$1,951,000

[1]

$2,109,000

[1]

Base management fees paid by the Company

3,560,000

3,080,000

Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries

1,299,000

3,831,000

Loans receivable–related party

1,229,000

[1]

1,277,000

[1]

Placement agent fee

175,000

205,000

Resource America [Member]

Related Party Transaction [Line Items]

Payments to acquire additional interest in subsidiaries

2,800,000

Resource Real Estate Funding CDO 2006-1 [Member]

Related Party Transaction [Line Items]

Description of variable rate basis

LIBOR

Basis spread on variable rate

3.50%

Variable rate basis, floor

2.50%

Pelium [Member]

Related Party Transaction [Line Items]

Ownership percentage (percent)

71.80%

80.40%

Payments to acquire additional interest in subsidiaries

2,500,000

Acquisition of membership interests

17,500,000

2,500,000

Ownership interest

10.00%

Contributions

40,000,000

RRE VIP Borrower, LLC

Related Party Transaction [Line Items]

Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries

46,000

866,000

Equity method investments

0

Acquisition of membership interests

2,100,000

SLH Partners [Member] | Resource Capital Corp [Member]

Related Party Transaction [Line Items]

Amount of loan to related party

7,000,000

Equity method investments

975,000

Gain on Sale of Investments

912,000

Ownership percentage (percent)

10.00%

Loans receivable - related party, principal payments

7,000,000

Line of credit facility, interest rate during period (in hundredths)

10.00%

Origination fee with establishment of line of credit facility (in hundredths)

1.00%

Exit fee

70,000

Varde Investment Partners, L.P

Related Party Transaction [Line Items]

Equity in net earnings (losses) and interest expense from unconsolidated subsidiaries

0

-1,000

Ownership percentage (percent)

7.50%

RCC Residential, Inc. [Member]

Related Party Transaction [Line Items]

Ownership percentage (percent)

63.80%

Acquisition of membership interests

15,000,000

Lynnfield Place [Member] | RCC Real Estate [Member]

Related Party Transaction [Line Items]

Amount of loan to related party

22,400,000

Resource Real Estate Management, LLC [Member] | RCC Real Estate [Member]

Related Party Transaction [Line Items]

Asset management fees percentage (in hundredths)

4.00%

Base management fees paid by the Company

0

34,000

Resource Real Estate Management, LLC [Member] | RRE VIP Borrower, LLC

Related Party Transaction [Line Items]

Asset management fees percentage (in hundredths)

1.00%

Base management fees paid by the Company

0

5,000

Resource Real Estate Management, LLC [Member] | SLH Partners [Member] | Resource Capital Corp [Member]

Related Party Transaction [Line Items]

Asset management fees percentage (in hundredths)

2.00%

Resource Real Estate Management, LLC [Member] | Varde Investment Partners, L.P

Related Party Transaction [Line Items]

Base management fees paid by the Company

0

Resource Capital Partners Inc [Member] | Resource Capital Corp [Member]

Related Party Transaction [Line Items]

Amount of loan to related party

2,000,000

Debt instrument, interest rate, stated percentage

8.00%

Related party loan, additional interest in addition to stated interest rate (in hundredths)

5.00%

Loans receivable - related party, principal payments

391,000

Loans receivable–related party

558,000

Resource Real Estate Opportunity Fund, L.P. [Member] | Resource America [Member]

Related Party Transaction [Line Items]

Ownership percentage (percent)

5.00%

RCC CRE Notes 2013 [Member]

Related Party Transaction [Line Items]

Closing transaction amount

307,800,000

Special servicing fee rate

0.25%

RCC CRE Notes 2014 [Member]

Related Party Transaction [Line Items]

Closing transaction amount

353,900,000

Special servicing fee rate

0.25%

RCC CRE Notes 2015 [Member]

Related Party Transaction [Line Items]

Closing transaction amount

346,200,000

Special servicing fee rate

0.25%

Placement agent fee

100,000

Commercial Real Estate Loans [Member] | Resource Real Estate [Member]

Related Party Transaction [Line Items]

Related party transaction, due from (to) related party

7,500

100,000

Whispertree Apartments [Member] | Resource Real Estate Management, LLC [Member] | RCC Real Estate [Member]

Related Party Transaction [Line Items]

Base management fees paid by the Company

0

RCM Global Manager, LLC [Member] | RCC Residential, Inc. [Member]

Related Party Transaction [Line Items]

Gain on Sale of Investments

$2,700,000

Ownership percentage in VIE

53.20%

63.80%

[1]

March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

RELATED_PARTY_TRANSACTIONS_Rel4

RELATED PARTY TRANSACTIONS (Relationship with Law Firm) (Details) (Resource Capital Corp [Member], Ledgewood [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Resource Capital Corp [Member] | Ledgewood [Member]
Related Party Transaction [Line Items]
Legal fees	$274	$38

DISTRIBUTIONS_Dividends_Declar

DISTRIBUTIONS Dividends Declared (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014
Class of Stock [Line Items]
Dividend Per Share	$0.16
Common Stock [Member]
Class of Stock [Line Items]
Total Dividend Paid	$21,423	$26,563	$26,629	$26,179	$25,663
Dividend Per Share		$0.20	$0.20	$0.20	$0.20
Redeemable Preferred Stock Series A [Member]
Class of Stock [Line Items]
Total Dividend Paid	568
Dividend Per Share	$0.53
Redeemable Preferred Stock Series B [Member]
Class of Stock [Line Items]
Total Dividend Paid	2,960
Dividend Per Share	$0.52
Preferred Shares - Series A [Member]
Class of Stock [Line Items]
Total Dividend Paid		568	537	537	463
Dividend Per Share		$0.53	$0.53	$0.53	$0.53
Preferred Shares - Series B [Member]
Class of Stock [Line Items]
Total Dividend Paid		2,888	2,430	2,378	2,057
Dividend Per Share		$0.52	$0.52	$0.52	$0.52
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Total Dividend Paid	$2,588	$2,588	$2,588	$1,437
Dividend Per Share	$0.54	$0.54	$0.54	$0.03

DISTRIBUTIONS_Narrative_Detail

DISTRIBUTIONS Narrative (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
DISTRIBUTIONS [Abstract]
Common Stock, Dividends, Per Share, Declared	$0.16
REIT required taxable income distribution, percentage	90.00%
REIT taxable income distribution for exempt federal income taxes, Percentage	100.00%

FAIR_VALUE_OF_FINANCIAL_INSTRU2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	$284,070		$275,720
Provision for (recovery of) loan losses	3,990	-3,960
Principal Outstanding	1,952,765		1,734,901
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers into Level 3	856
Recurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	284,070		275,720
Recurring Basis [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	32,567		33,158
Recurring Basis [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	251,503		242,562
Nonrecurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Provision for (recovery of) loan losses	2,500	440
CMBS Including Linked Transactions [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers into Level 3	0
Residential mortgage loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	174,400
Residential mortgage loans [Member] | Recurring Basis [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	61,400
Residential mortgage loans [Member] | Recurring Basis [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	113,000
Moselle CLO S.A. Securitized Borrowings [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Outstanding	120		5,619
Assets Held-for-sale [Member] | Nonrecurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Provision for (recovery of) loan losses	$721	$0

FAIR_VALUE_OF_FINANCIAL_INSTRU3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities Measured at Fair Value) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Thousands, unless otherwise specified
Assets:
Investment securities, trading	$29,770	[1]	$20,786	[1]
Investment securities available-for-sale	284,070		275,720
CMBS - linked transactions	0	[1]	15,367	[1]
Derivatives (net)	14,036	[1]	5,304	[1]
Recurring Basis [Member]
Assets:
Investment securities, trading	29,770		20,786
Investment securities available-for-sale	284,070		275,720
CMBS - linked transactions			15,367
Derivatives (net)	14,035		5,304
Total assets at fair value	327,875		317,177
Liabilities:
Moselle CLO Notes			68,940
Derivatives (net)	8,860		8,476
Total liabilities at fair value	8,860		77,416
Recurring Basis [Member] | Level 1 [Member]
Assets:
Investment securities, trading	0		0
Investment securities available-for-sale	0		0
CMBS - linked transactions			0
Derivatives (net)	7,015		3,429
Total assets at fair value	7,015		3,429
Liabilities:
Moselle CLO Notes			0
Derivatives (net)	0		0
Total liabilities at fair value	0		0
Recurring Basis [Member] | Level 2 [Member]
Assets:
Investment securities, trading	0		0
Investment securities available-for-sale	32,567		33,158
CMBS - linked transactions			0
Derivatives (net)	384		7
Total assets at fair value	32,951		33,165
Liabilities:
Moselle CLO Notes			0
Derivatives (net)	1,319		0
Total liabilities at fair value	1,319		0
Recurring Basis [Member] | Level 3 [Member]
Assets:
Investment securities, trading	29,770		20,786
Investment securities available-for-sale	251,503		242,562
CMBS - linked transactions			15,367
Derivatives (net)	6,636		1,868
Total assets at fair value	287,909		280,583
Liabilities:
Moselle CLO Notes			68,940
Derivatives (net)	7,541		8,476
Total liabilities at fair value	$7,541		$77,416
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

FAIR_VALUE_OF_FINANCIAL_INSTRU4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets Measured on Recurring Basis) (Details) (Level 3 [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$280,583
Total gains or losses (realized or unrealized):
Included in earnings	14,370
Unlinked transactions	33,239
Purchases	17,337
Sales	-5,230
Paydowns	-32,157
Issuances	0
Settlements	-21,248
Included in OCI	-2,857
Transfers into Level 3	856
Ending balance	284,893
CMBS Including Linked Transactions [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	185,772
Total gains or losses (realized or unrealized):
Included in earnings	0
Unlinked transactions	33,239
Purchases	4,000
Sales	0
Paydowns	-30,983
Issuances	0
Settlements	0
Included in OCI	1,740
Transfers into Level 3	0
Ending balance	193,768
ABS [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	72,157
Total gains or losses (realized or unrealized):
Included in earnings	1,255
Unlinked transactions	0
Purchases	0
Sales	0
Paydowns	-720
Issuances	0
Settlements	-11,216
Included in OCI	-4,597
Transfers into Level 3	856
Ending balance	57,735
RMBS [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	20,786
Total gains or losses (realized or unrealized):
Included in earnings	1,331
Unlinked transactions	0
Purchases	13,337
Sales	-5,230
Paydowns	-454
Issuances	0
Settlements	0
Included in OCI	0
Transfers into Level 3	0
Ending balance	29,770
Structured Finance [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	898
Total gains or losses (realized or unrealized):
Included in earnings	-39
Unlinked transactions	0
Purchases	0
Sales	0
Paydowns	0
Issuances	0
Settlements	0
Included in OCI	0
Transfers into Level 3	0
Ending balance	859
Interest rate lock agreements [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	970
Total gains or losses (realized or unrealized):
Included in earnings	11,823
Unlinked transactions	0
Purchases	0
Sales	0
Paydowns	0
Issuances	0
Settlements	-10,032
Included in OCI	0
Transfers into Level 3	0
Ending balance	$2,761

FAIR_VALUE_OF_FINANCIAL_INSTRU5

FAIR VALUE OF FINANCIAL INSTRUMENTS Liabilities Measured on Recurring Basis Level 3 Inputs (Details) (Interest Rate Swap [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Interest Rate Swap [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance, January 1, 2015	$8,680
Unrealized gains - included in accumulated other comprehensive income	-1,142
Included in earnings	0
Ending balance, March 31, 2015	$7,538

FAIR_VALUE_OF_FINANCIAL_INSTRU6

FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities, Quantitative Information) (Details) (Nonrecurring [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Loans held for sale, fair value	$73,892	$36,956
Impaired loans, fair value	2,445	139,489
Total assets at fair value	76,337	176,445
Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Loans held for sale, fair value	0	0
Impaired loans, fair value	0	0
Total assets at fair value	0	0
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Loans held for sale, fair value	73,892	36,956
Impaired loans, fair value	2,445	1,678
Total assets at fair value	76,337	38,634
Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Loans held for sale, fair value	0	0
Impaired loans, fair value	0	137,811
Total assets at fair value	$0	$137,811

FAIR_VALUE_OF_FINANCIAL_INSTRU7

FAIR VALUE OF FINANCIAL INSTRUMENTS (Significant Observable Outputs) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value Assumptions, Market Capitalization	$112,500,000
Fair Value Assumptions, Expected Volatility Rate	50.00%
Discounted Cash Flow Technique [Member] | Level 3 [Member] | Derivative Financial Instruments, Liabilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets at fair value	$7,538,000
Interest Rate Swap [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Average fixed interest rate (in hundredths)		5.12%
Interest Rate Swap [Member] | Discounted Cash Flow Technique [Member] | Level 3 [Member] | Derivative Financial Instruments, Liabilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Average fixed interest rate (in hundredths)	4.78%

FAIR_VALUE_OF_FINANCIAL_INSTRU8

FAIR VALUE OF FINANCIAL INSTRUMENTS (Fair Value, by Balance Sheet Grouping) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held-for-investment	$1,960,250	[1]	$1,925,980	[1]
Loans receivable-related party	1,229	[1]	1,277	[1]
Senior secured revolving credit agreement	28,167		18,030
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held-for-investment	1,960,250		1,925,980
Loans receivable-related party	1,229		1,277
CDO notes	1,170,686		1,046,493
Junior subordinated notes	51,256		51,205
Repurchase agreements	368,397		399,662
Senior secured revolving credit agreement	132,493		111,137
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held-for-investment	1,951,974		1,909,019
Loans receivable-related party	1,229		1,277
CDO notes	1,098,171		975,762
Junior subordinated notes	17,750		17,699
Repurchase agreements	368,397		399,662
Senior secured revolving credit agreement	132,493		111,137
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held-for-investment	0		0
Loans receivable-related party	0		0
CDO notes	0		0
Junior subordinated notes	0		0
Repurchase agreements	0		0
Senior secured revolving credit agreement	0		0
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held-for-investment	515,227		570,071
Loans receivable-related party	0		0
CDO notes	0		0
Junior subordinated notes	0		0
Repurchase agreements	0		0
Senior secured revolving credit agreement	0		0
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held-for-investment	1,436,747		1,338,948
Loans receivable-related party	1,229		1,277
CDO notes	1,098,171		975,762
Junior subordinated notes	17,750		17,699
Repurchase agreements	368,397		399,662
Senior secured revolving credit agreement	$132,493		$111,137
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

MARKET_RISK_AND_DERIVATIVE_INS2

MARKET RISK AND DERIVATIVE INSTRUMENTS (Details) (USD $)	1 Months Ended	3 Months Ended	9 Months Ended	3 Months Ended
	Jun. 30, 2007	Sep. 30, 2008	Sep. 30, 2008	Mar. 31, 2015		Mar. 31, 2014	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Linked Transactions, Fair Value Disclosure				$0	[1]		$15,367,000	[1]
Fair value				-8,858,000			-8,466,000
Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Number of derivative instruments held				11			10
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement				24,000
Average fixed interest rate (in hundredths)							5.12%
Notional amount		45,000,000	45,000,000	136,129,000		126,111,000	124,000,000
Fair value				-7,500,000			-8,700,000
Unrealized losses on non-designated derivative instruments				7,800,000			9,000,000
Gain (loss) on swap termination	2,600,000	-574,000	-4,200,000
Notional amount of derivative instrument terminated		12,700,000	53,600,000
Linked Transactions [Member]
Derivatives, Fair Value [Line Items]
Linked Transactions, Fair Value Disclosure							48,605,000
Fair value							0
Unrealized Gain (Loss) and Net Interest Income on Derivatives				0		2,305,000
Derivative Financial Instruments, Liabilities [Member] | Discounted Cash Flow Technique [Member] | Level 3 [Member] | Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Average fixed interest rate (in hundredths)				4.78%
Linked Transactions, Net at Fair Value [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Linked Transactions, Fair Value Disclosure							$15,367,000
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

MARKET_RISK_AND_DERIVATIVE_INS3

MARKET RISK AND DERIVATIVE INSTRUMENTS (Fair Value and Classification of Derivatives) (Details)

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2014

Mar. 31, 2015

Mar. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2014

Mar. 31, 2015

Mar. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Mar. 31, 2015

Dec. 31, 2014

Dec. 31, 2014

Mar. 31, 2015

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2014

Sep. 30, 2008

Mar. 31, 2015

Mar. 31, 2014

Mar. 31, 2015

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Mar. 31, 2015

Dec. 31, 2014

In Thousands, unless otherwise specified

USD ($)

USD ($)

Derivatives, at fair value [Member]

Interest rate lock agreements [Member]

Interest rate lock agreements [Member]

Interest rate lock agreements [Member]

Interest rate lock agreements [Member]

Interest rate lock agreements [Member]

Interest rate lock agreements [Member]

Interest rate lock agreements [Member]

RMBS [Member]

RMBS [Member]

RMBS [Member]

RMBS [Member]

Forward Contracts [Member]

Forward Contracts [Member]

Forward Contracts [Member]

Forward Contracts [Member]

Forward Contracts [Member]

Forward Contracts [Member]

Forward Contracts [Member]

Warrant [Member]

Warrant [Member]

Warrant [Member]

Warrant [Member]

Forward contracts-foreign currency [Member]

Forward contracts-foreign currency [Member]

Forward contracts-foreign currency [Member]

Forward contracts-foreign currency [Member]

Forward contracts-foreign currency [Member]

Forward contracts-foreign currency [Member]

Forward contracts-foreign currency [Member]

US Treasury Securities [Member]

US Treasury Securities [Member]

US Treasury Securities [Member]

US Treasury Securities [Member]

Interest rate swap contracts [Member]

Interest rate swap contracts [Member]

Interest rate swap contracts [Member]

Interest rate swap contracts [Member]

Interest rate swap contracts [Member]

Interest rate swap contracts [Member]

Interest rate swap contracts [Member]

Interest rate swap contracts [Member]

Interest rate swap contracts [Member]

Interest rate swap contracts [Member]

Interest rate swap contracts [Member]

Forward contracts-TBA securities [Member]

Forward contracts-TBA securities [Member]

Forward contracts-TBA securities [Member]

Forward contracts-TBA securities [Member]

Forward contracts-TBA securities [Member]

USD ($)

USD ($)

USD ($)

USD ($)

Net realized gain on sales of investment securities available-for-sale and loans

Net realized gain on sales of investment securities available-for-sale and loans

Derivatives, at fair value [Member]

Derivatives, at fair value [Member]

USD ($)

USD ($)

Net realized gain on sales of investment securities available-for-sale and loans

Derivatives, at fair value [Member]

USD ($)

USD ($)

USD ($)

Net realized gain on sales of investment securities available-for-sale and loans

Net realized gain on sales of investment securities available-for-sale and loans

Derivatives, at fair value [Member]

Derivatives, at fair value [Member]

USD ($)

USD ($)

Derivatives, at fair value [Member]

Derivatives, at fair value [Member]

USD ($)

EUR (€)

USD ($)

EUR (€)

Net realized gain on sales of investment securities available-for-sale and loans

Derivatives, at fair value [Member]

Derivatives, at fair value [Member]

USD ($)

USD ($)

Net realized gain on sales of investment securities available-for-sale and loans

Derivatives, at fair value [Member]

USD ($)

USD ($)

USD ($)

USD ($)

Interest expense [Member]

Interest expense [Member]

Net realized gain on sales of investment securities available-for-sale and loans

Derivatives, at fair value [Member]

Derivatives, at fair value [Member]

Accumulated other comprehensive loss [Member]

Accumulated other comprehensive loss [Member]

USD ($)

USD ($)

Net realized gain on sales of investment securities available-for-sale and loans

Derivatives, at fair value [Member]

Derivatives, at fair value [Member]

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Derivatives, Fair Value [Line Items]

Asset Derivatives, Notional Amount

$3,000

$137,983

$59,467

$42,614

$78,968

$5,000

$492

$492

$40,005

€ 37,300

$54,948

€ 45,400

$90

Asset Derivatives, Fair Value

11,275

4,334

3,016

2,761

970

1,297

384

7

859

898

7,016

3,377

52

Liability Derivatives, Notional Amount

511

798

155,000

154,692

136,129

124,017

23,500

15,000

Liability Derivatives, Fair Value

8,858

8,466

2

10

1,204

1,036

7,539

8,680

7,539

8,680

115

47

Derivative, Notional Amount

138,494

33,912

38,865

233,968

48,890

40,004

190

136,129

124,000

126,111

45,000

15,000

23,500

Derivative Instruments, Gain Reclassified from Accumulated OCI into Income (Loss), Effective Portion

2,759

46

283

3,638

199

1,634

112

-115

Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion

$433

$60

$1,626

MARKET_RISK_AND_DERIVATIVE_INS4

MARKET RISK AND DERIVATIVE INSTRUMENTS (Summary of Linked Transactions) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Linked transactions, net at fair value	$0	[1]		$15,367	[1]
CMBS Linked Transactions [Abstract]
Total	265,322			256,515
Fair Value
Less than one year	84,119			78,095
Greater than one year and less than five years	125,176			115,302
Greater than five years and less than ten years	16,808			20,177
Greater than ten years	57,967			62,146
Amortized Cost
Less than one year	82,983			79,649
Greater than one year and less than five years	113,882			100,909
Greater than five years and less than ten years	14,358			17,516
Greater than ten years	54,099			58,441
Total	265,322			256,515
Linked Transactions, Continuous Unrealized Loss Position [Abstract]
Fair Value, less than 12 months	27,024			38,307
Unrealized Losses, less than 12 months	-241			-851
Fair value, more than 12 months	17,784			26,541
Gross unrealized losses, more than 12 Months	-900			-2,705
Fair value, total	44,808			64,848
Unrealized losses, total	-1,141			-3,556
Linked Transactions [Member]
Derivatives, Fair Value [Line Items]
Linked transactions, net at fair value				48,605
Components of Unrealized Net Gains and Net Interest Income from Linked Transactions [Abstract]
Interest income attributable to CMBS underlying linked transactions	0		739
Interest expense attributable to linked repurchase agreement borrowings underlying linked transactions	0		-197
Change in fair value of linked transactions included in earnings	0		1,763
Unrealized gain (loss) and net interest income from linked transactions, net	0		2,305
Linked Transactions [Member] | CMBS [Member]
CMBS Linked Transactions [Abstract]
Total				48,138
CMBS linked transactions, Unrealized Gains				539
CMBS linked transactions, Unrealized Losses				-72
Total				48,605
Fair Value
Less than one year				7,834
Greater than one year and less than five years				36,587
Greater than five years and less than ten years				4,184
Greater than ten years				0
Total				48,605
Amortized Cost
Less than one year				7,775
Greater than one year and less than five years				36,274
Greater than five years and less than ten years				4,089
Greater than ten years				0
Total				48,138
Weighted Average Coupon
Less than one year				5.36%
Greater than one year and less than five years				4.65%
Greater than five years and less than ten years				4.52%
Greater than ten years				0.00%
Total				4.66%
Linked Transactions, Continuous Unrealized Loss Position [Abstract]
Fair Value, less than 12 months				7,609
Unrealized Losses, less than 12 months				-57
Fair value, more than 12 months				777
Gross unrealized losses, more than 12 Months				-15
Fair value, total				8,386
Unrealized losses, total				-72
CMBS Linked Repurchase Agreements [Abstract]
CMBS Linked repurchase agreement, Balance				33,397
CMBS Linked repurchase agreement, Weighted Average Interest Rate				1.56%
Linked Transactions [Member] | CMBS [Member] | Within 30 days [Member]
CMBS Linked Repurchase Agreements [Abstract]
CMBS Linked repurchase agreement, Balance				33,397
CMBS Linked repurchase agreement, Weighted Average Interest Rate				1.56%
Linked Transactions [Member] | CMBS [Member] | 30 days to 90 days [Member]
CMBS Linked Repurchase Agreements [Abstract]
CMBS Linked repurchase agreement, Balance				0
CMBS Linked repurchase agreement, Weighted Average Interest Rate				0.00%
Not Designated as Hedging Instrument [Member] | Linked Transactions, Net at Fair Value [Member]
Derivatives, Fair Value [Line Items]
Linked transactions, net at fair value				$15,367
[1]	March 31, 2015December 31, 2014Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Cash and cash equivalents$133 $25 Restricted cash25,262 121,247 Investment securities available-for-sale, pledged as collateral, at fair value94,658 119,203 Loans held for sale73,892 282Loans, pledged as collateral and net of allowances of $4.2 million and $3.3 million1,445,136 1,261,137 Interest receivable9,895 8,941 Prepaid expenses193 221 Principal paydown receivable26,700 25,767 Other assets(742) (12) Total assets of consolidated VIEs$1,675,127 $1,536,811

OFFSETTING_OF_FINANCIAL_ASSETS2

OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Offsetting Derivative Assets [Abstract]
Gross Amounts of Recognized Assets	$11,275,000	$4,334,000
Total-Assets
Gross Amounts of Recognized Assets	11,275,000	53,098,000
Gross Amounts Offset in the Consolidated Balance Sheets	0	33,397,000
Net Amounts of Assets Included in the Consolidated Balance Sheets-Total	11,275,000	19,701,000
Gross Amounts Not Offset in the Consolidated Balance Sheets- Financial Instruments	0	0
Gross Amounts Not Offset in the Consolidated Balance Sheets- Cash Collateral Pledged	0	0
Net Amount	11,275,000	19,701,000
Offsetting Derivative Liabilities [Abstract]
Gross Amounts of Recognized Liabilities	8,858,000	8,466,000
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts of Liabilities Included in the Consolidated Balance Sheets	8,858,000	8,466,000
Gross Amounts Not Offset in the Consolidated Balance Sheets- Financial Instruments	0	0
Gross Amounts Not Offset in the Consolidated Balance Sheets- Cash Collateral Pledged	1,151,000	500,000
Net Amount	7,707,000	7,966,000
Total-Liabilities
Gross Amounts Offset in the Consolidated Balance Sheets	377,255,000	441,525,000
Gross Amounts Offset in the Consolidated Balance Sheets	0	33,397,000
Net Amounts of Liabilities Included in the Consolidated Balance Sheets	377,255,000	408,128,000
Gross Amounts Not Offset in the Consolidated Balance Sheets- Financial Instruments	368,397,000	399,662,000
Gross Amounts Not Offset in the Consolidated Balance Sheets- Cash Collateral Pledged	1,151,000	500,000
Net Amount	7,707,000	7,966,000
Repurchase agreements and term facilties
Gross Amounts of Recognized Liabilities	368,397,000	399,662,000
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts of Liabilities Included in the Consolidated Balance Sheets	368,397,000	399,662,000
Gross Amounts Not Offset in the Consolidated Balance Sheets- Financial Instruments	368,397,000	399,662,000
Gross Amounts Not Offset in the Consolidated Balance Sheets- Cash Collateral Pledged	0	0
Net Amount	0	0
Derivative Asset, Fair Value, Gross Liability	0	0
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	11,275,000	4,334,000
Derivative, Collateral, Obligation to Return Securities	0	0
Derivative, Collateral, Obligation to Return Cash	0	0
Derivative Asset, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election	11,275,000	4,334,000
Fair value of securities pledged against swaps	1,300,000	2,600,000
Fair value of securities pledged against repurchase agreements	483,700,000	565,600,000
Linked Transactions [Member]
Offsetting Derivative Assets [Abstract]
Gross Amounts of Recognized Assets		48,764,000
Offsetting Derivative Liabilities [Abstract]
Gross Amounts of Recognized Liabilities		33,397,000
Gross Amounts Offset in the Consolidated Balance Sheets		33,397,000
Net Amounts of Liabilities Included in the Consolidated Balance Sheets		0
Gross Amounts Not Offset in the Consolidated Balance Sheets- Financial Instruments		0
Gross Amounts Not Offset in the Consolidated Balance Sheets- Cash Collateral Pledged		0
Repurchase agreements and term facilties
Derivative Asset, Fair Value, Gross Liability		33,397,000
Derivative Asset, Fair Value, Amount Not Offset Against Collateral		15,367,000
Derivative, Collateral, Obligation to Return Securities		0
Derivative, Collateral, Obligation to Return Cash		0
Derivative Asset, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election		$15,367,000

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)	12 Months Ended	0 Months Ended	3 Months Ended	0 Months Ended
	Dec. 31, 2014	Apr. 01, 2015	Dec. 31, 2014	Apr. 10, 2015	Mar. 31, 2015	Sep. 18, 2014
Revolving Credit Facility [Member] | Northport LLC [Member]
Subsequent Event [Line Items]
Maximum amount of facility					$225,000,000	$110,000,000
Revolving Credit Facility [Member] | Northport LLC [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Maximum amount of facility		300,000,000
London Interbank Offered Rate (LIBOR) [Member] | Northport LLC [Member] | Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Basis spread on variable rate	2.50%
London Interbank Offered Rate (LIBOR) [Member] | Northport LLC [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Basis spread on variable rate		2.75%
Base Rate [Member] | Northport LLC [Member] | Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Basis spread on variable rate			1.50%
Base Rate [Member] | Northport LLC [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Basis spread on variable rate		1.75%
Bridge Loan [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Number of extensions				2
Loan extension, period of time				1 year
Quantity of loans				2
Bridge Loan One [Member] | Bridge Loan [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Basis spread on variable rate				5.75%
Bridge loan				2,500,000
Bridge Loan Two [Member] | Bridge Loan [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Bridge loan				3,300,000
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Basis spread on variable rate				0.25%