ACRES Commercial Realty (ACR) 10-Q 9 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 06, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	RESOURCE CAPITAL CORP.
Entity Central Index Key	1,332,551
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding (in shares)		31,383,890

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
ASSETS:
Cash and cash equivalents	[1]	$ 282,984	$ 116,026
Restricted cash	[1]	14,539	3,399
Interest receivable	[1]	6,679	6,404
CRE loans, pledged as collateral and net of allowances of $4,077 and $3,829	[1]	1,264,264	1,286,278
Investment securities available-for-sale, including securities pledged as collateral of $165,953 and $97,458	[1]	189,173	124,968
Investment securities, trading	[1]	162	4,492
Loans held for sale	[1]	38	1,007
Principal paydowns receivable	[1]	10,873	19,280
Investments in unconsolidated entities	[1]	13,916	87,919
Derivatives, at fair value	[1]	235	647
Direct financing leases, net of allowances of $735 and $465	[1]	167	527
Intangible assets	[1]	0	213
Other assets	[1]	8,436	14,673
Deferred tax asset, net	[1]	0	4,255
Assets held for sale (amount includes $78,459 and $158,178 of Legacy CRE loans held for sale in continuing operations, see Note 21)	[1]	138,193	383,455
Total assets	[1]	1,929,659	2,053,543
LIABILITIES:
Accounts payable and other liabilities	[2]	4,660	4,480
Management fee payable - related party	[2]	3,062	1,318
Accrued interest expense	[2]	3,710	4,979
Borrowings	[2]	1,172,094	1,191,456
Distributions payable	[2]	5,576	5,560
Accrued tax liability	[2]	300	0
Derivatives, at fair value	[2]	229	97
Liabilities held for sale (see Note 21)	[2]	9,371	142,563
Total liabilities	[2]	1,199,002	1,350,453
EQUITY
Common stock, par value $0.001: 125,000,000 shares authorized; 31,383,890 and 31,050,020 shares issued and outstanding (including 502,539 and 400,050 unvested restricted shares)		31	31
Additional paid-in capital		1,233,200	1,218,352
Accumulated other comprehensive income		1,484	3,081
Distributions in excess of earnings		(504,070)	(517,177)
Total Resource Capital Corp. stockholders’ equity		730,657	704,299
Non-controlling interests		0	(1,209)
Total equity		730,657	703,090
TOTAL LIABILITIES AND EQUITY		1,929,659	2,053,543
8.50% Series A Preferred Stock
EQUITY
Preferred stock, par value $0.001		1	1
8.25% Series B Preferred Stock
EQUITY
Preferred stock, par value $0.001		6	6
Preferred Shares - Series C
EQUITY
Preferred stock, par value $0.001		$ 5	$ 5
[1]	September 30, 2017December 31, 2016Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Restricted cash12,859 3,308Interest receivable3,126 3,153CRE loans, pledged as collateral and net of allowances of $838 and $763733,746 747,726Loans held for sale38 1,007Principal paydowns receivable— 5,820Investment securities available-for-sale, including securities pledged as collateral— 369Other assets9 58Total assets of consolidated VIEs$749,778 $761,441
[2]	September 30, 2017 December 31, 2016Liabilities of consolidated VIEs included in the total liabilities above: Accounts payable and other liabilities$45 $133Accrued interest expense566 519Borrowings465,531 480,103Total liabilities of consolidated VIEs$466,142 $480,755

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Financing receivable, allowance for credit losses	$ 4,077	$ 3,829
Investment securities available-for-sale, amount pledged as collateral	165,953	97,458
Direct financing leases, allowances	4,812	4,294
Investment securities available-for-sale	$ 189,173	$ 124,968
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	125,000,000	125,000,000
Common stock, shares issued (in shares)	31,383,890	31,050,020
Common stock, shares outstanding (in shares)	31,383,890	31,050,020
Common stock, shares issued, non-vested restricted shares (in shares)	502,539	400,050
Assets of consolidated Variable Interest Entities (VIEs) included in the total assets above:
Restricted cash	$ 12,859	$ 3,308
Interest receivable	3,126	3,153
CRE loans, pledged as collateral and net of allowances of $838 and $763	733,746	747,726
Investment securities available-for-sale, including securities pledged as collateral	0	369
Loans held for sale	38	1,007
Principal paydowns receivable	0	5,820
Other assets	9	58
Total assets of consolidated VIEs	749,778	761,441
Liabilities of consolidated VIEs included in the total liabilities above:
Accounts payable and other liabilities	45	133
Accrued interest expense	566	519
Borrowings	465,531	480,103
Total liabilities of consolidated VIEs	466,142	480,755
Loan allowances, VIEs	$ 838	$ 763
8.50% Series A Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
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	8.50%	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
8.25% Series B Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
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	8.25%	8.25%
Preferred stock, shares issued (in shares)	5,544,579	5,740,479
Preferred stock, shares outstanding (in shares)	5,544,579	5,740,479
Preferred Shares - Series C
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
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	8.625%	8.625%
Preferred stock, shares issued (in shares)	4,800,000	4,800,000
Preferred stock, shares outstanding (in shares)	4,800,000	4,800,000
Discontinued Operations, Held-for-sale
Investment securities available-for-sale	$ 110,669	$ 346,761
Discontinued Operations, Held-for-sale | Legacy CRE Whole Loans
Investment securities available-for-sale	78,459	158,178
Direct Financing Leases
Direct financing leases, allowances	$ 735	$ 465

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Interest income:
CRE loans	$ 21,953	$ 21,763	$ 65,327	$ 64,565
Securities	1,661	4,602	5,298	13,691
Other	369	742	2,464	4,275
Total interest income	23,983	27,107	73,089	82,531
Interest expense	13,853	13,653	42,454	40,401
Net interest income	10,130	13,454	30,635	42,130
Dividend income	21	(188)	60	(153)
Fee income	109	1,035	1,962	2,369
Total revenues	10,260	14,301	32,657	44,346
OPERATING EXPENSES
Management fees - related party	4,924	3,053	10,242	10,189
Equity compensation - related party	895	1,702	2,417	3,543
General and administrative	4,336	3,507	11,780	10,960
Depreciation and amortization	26	364	126	1,234
Impairment losses	0	25,297	177	25,297
(Recovery of) provision for loan and lease losses, net	(612)	7,562	518	7,639
Total operating expenses	9,569	41,485	25,260	58,862
Net interest and other revenues less operating expenses	691	(27,184)	7,397	(14,516)
OTHER INCOME (EXPENSE)
Equity in earnings of unconsolidated entities	41,047	1,032	41,290	5,950
Net realized and unrealized (loss) gain on investment securities available-for-sale and loans and derivatives	(1,465)	(475)	15,619	2,012
Net realized and unrealized (loss) gain on investment securities, trading	(9)	(242)	(970)	86
Fair value adjustments on financial assets held for sale	0	0	58	0
Loss on extinguishment of debt	(10,365)	0	(10,365)	0
Other (expense) income	(690)	1,508	(604)	1,486
Total other income	28,518	1,823	45,028	9,534
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES	29,209	(25,361)	52,425	(4,982)
Income tax expense	(4,464)	(8,939)	(5,938)	(9,558)
NET INCOME FROM CONTINUING OPERATIONS	24,745	(34,300)	46,487	(14,540)
NET LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX	(6,087)	(11,321)	(10,832)	(12,532)
NET INCOME	18,658	(45,621)	35,655	(27,072)
Net income allocated to preferred shares	(6,014)	(6,015)	(18,043)	(18,077)
Carrying value in excess of consideration paid for preferred shares	0	0	0	1,500
Net loss allocable to non-controlling interests, net of taxes	0	63	196	213
NET INCOME (LOSS) ALLOCABLE TO COMMON SHARES	$ 12,644	$ (51,573)	$ 17,808	$ (43,436)
NET INCOME (LOSS) PER COMMON SHARE - BASIC
CONTINUING OPERATIONS (in dollars per share)	$ 0.61	$ (1.32)	$ 0.93	$ (1.01)
DISCONTINUED OPERATIONS (in dollars per share)	(0.20)	(0.37)	(0.35)	(0.41)
NET INCOME (LOSS) PER COMMON SHARE – BASIC (in dollars per share)	0.41	(1.69)	0.58	(1.42)
NET INCOME (LOSS) PER COMMON SHARE - DILUTED
CONTINUING OPERATIONS (in dollars per share)	0.61	(1.32)	0.92	(1.01)
DISCONTINUED OPERATIONS (in dollars per share)	(0.20)	(0.37)	(0.35)	(0.41)
NET INCOME (LOSS) PER COMMON SHARE – DILUTED (in dollars per share)	$ 0.41	$ (1.69)	$ 0.57	$ (1.42)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - BASIC (in shares)	30,857,232	30,528,368	30,810,259	30,513,131
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - DILUTED (in shares)	31,115,152	30,528,368	31,017,108	30,513,131

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 18,658	$ (45,621)	$ 35,655	$ (27,072)
Other comprehensive income (loss):
Reclassification adjustment for realized losses (gains) on available-for-sale securities included in net income	2,521	0	1,342	(596)
Unrealized (losses) gains on investment securities, available-for-sale, net	(1,673)	6,182	(3,167)	8,382
Reclassification adjustments associated with unrealized losses (gains) from interest rate hedges included in net income	0	26	17	(29)
Unrealized gains on derivatives, net	136	1	211	118
Total other comprehensive income (loss)	984	6,209	(1,597)	7,875
Comprehensive income (loss) before allocation to non-controlling interests and preferred shares	19,642	(39,412)	34,058	(19,197)
Net loss allocable to non-controlling interests, net of taxes	0	63	196	213
Net income allocated to preferred shares	(6,014)	(6,015)	(18,043)	(18,077)
Carrying value in excess of consideration paid for preferred shares	0	0	0	1,500
Comprehensive income (loss) allocable to common shares	$ 13,628	$ (45,364)	$ 16,211	$ (35,561)

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - 9 months ended Sep. 30, 2017 - USD ($) $ in Thousands	Total	Total Stockholders' Equity	Common Stock	Preferred StockPreferred Shares - Series A	Preferred StockPreferred Shares - Series B	Preferred StockPreferred Shares - Series C	Additional Paid-In Capital	Accumulated Other Comprehensive (Loss) Income	Retained Earnings	Distributions in Excess of Earnings	Non-Controlling Interests
Beginning balance (in shares) at Dec. 31, 2016	31,050,020		31,050,020
Beginning balance at Dec. 31, 2016	$ 703,090	$ 704,299	$ 31	$ 1	$ 6	$ 5	$ 1,218,352	$ 3,081	$ 0	$ (517,177)	$ (1,209)
Increase (Decrease) in Stockholders' Equity
Offering costs	(385)	(385)					(385)
Equity component of 4.5% convertible senior notes	14,231	14,231					14,231
Stock based compensation (in shares)			371,300
Stock based compensation	0	0					0
Amortization of stock based compensation	2,704	2,704					2,704
Purchase and retirement of common shares (in shares)			(10,817)
Retirement of common shares	(98)	(98)	$ 0				(98)
Forfeiture of unvested stock (in shares)			(26,613)
Net income (loss)	35,655	35,851							35,851		(196)
Preferred dividends	(18,043)	(18,043)							(18,043)
Securities available-for-sale, fair value adjustment, net	(1,825)	(1,825)						(1,825)
Designated derivatives, fair value adjustment	228	228						228
Distributions on common stock	(4,701)	(4,701)							(17,808)	13,107
Repurchase of conversion option	(194)	(194)					(194)
Purchase of non-controlling interest	$ (5)	(1,410)					(1,410)				1,405
Ending balance (in shares) at Sep. 30, 2017	31,383,890		31,383,890
Ending balance at Sep. 30, 2017	$ 730,657	$ 730,657	$ 31	$ 1	$ 6	$ 5	$ 1,233,200	$ 1,484	$ 0	$ (504,070)	$ 0

CONSOLIDATED STATEMENT OF CHAN7

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Parenthetical)	Sep. 30, 2017
4.50% Convertible Senior Notes
Interest rate, stated percentage	4.50%

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands		9 Months Ended
		Sep. 30, 2017USD ($)Entity		Sep. 30, 2016USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) from continuing operations		$ 46,487		$ (14,540)
Net loss from discontinued operations, net of tax		(10,832)		(12,532)
NET INCOME		35,655		(27,072)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Provision for loan and lease losses		518		7,639
Depreciation, amortization and accretion		1,763		(7,270)
Amortization of stock-based compensation		2,417		3,543
Provision for deferred taxes		0		16,335
Sale of and principal payments on syndicated corporate loans held for sale		1,433		0
Sale of and principal payments on investment securities, trading, net		4,493		229
Net realized and unrealized loss (gain) on investment securities, trading		970		(86)
Net realized and unrealized gain on investment securities available-for-sale and loans and derivatives		(15,619)		(2,012)
Fair value adjustments on financial assets held for sale		(58)		0
Loss on extinguishment of debt		10,365		0
Gain on sale of real estate		0		(28)
Settlement of derivative instruments		0		(72)
Impairment losses		177		25,297
Equity in net earnings of unconsolidated entities		(41,290)		(5,950)
Return on investments in unconsolidated entities		49,713		0
Changes in operating assets and liabilities		2,613		(3,068)
Net cash provided by continuing operating activities		53,150		7,485
Net cash provided by (used in) discontinued operating activities		150,262		(78,790)
Net cash provided by (used in) operating activities		203,412		(71,305)
CASH FLOWS FROM INVESTING ACTIVITIES:
(Increase) decrease in restricted cash		(9,836)		16,816
Deconsolidation of VIEs	[1]	0		(472)
Origination and purchase of loans		(348,764)		(178,779)
Principal payments received on loans and leases		474,729		243,238
Proceeds from sale of loans		0		511
Purchase of securities available-for-sale		(121,887)		(6,656)
Principal payments on securities available-for-sale		33,779		36,855
Proceeds from sale of securities available-for-sale		33,347		0
Acquisition of legacy collateralized debt obligation assets		0		(7,511)
Acquisition of the remaining interest in Life Care Funding, LLC		(5)		0
Proceeds from sale of Northport TRS, LLC		0		2,361
Return of capital from investments in unconsolidated entities		48,792		(490)
Proceeds from the sale of an investment in unconsolidated entity		16,159		0
Settlement of derivative instruments		(1,416)		(147)
Purchase of furniture and fixtures		0		(28)
Net cash provided by continuing investing activities		124,898		105,698
Net cash provided by discontinued investing activities		18,720		150,385
Net cash provided by investing activities		143,618		256,083
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuances of common stock and dividend reinvestment and stock purchase plan (net of offering costs of $385 and $0)		0		108
Repurchase of common stock		0		(9,236)
Retirement of common stock		(98)		(162)
Repurchase of preferred shares		0		(3,114)
Net (payments on) proceeds from repurchase agreements		(13,824)		107,473
Proceeds from borrowings:
Securitizations		251,449		0
Convertible senior notes		121,589		0
Payments on borrowings:
Securitizations		(266,378)		(226,570)
Convertible senior notes		(108,690)		0
Payment of debt issuance costs		(8,253)		(1,980)
Distributions paid on preferred stock		(18,043)		(18,144)
Distributions paid on common stock		(4,685)		(39,398)
Net cash used in continuing financing activities		(46,933)		(191,023)
Net cash (used in) provided by discontinued financing activities		(133,139)		42,041
Net cash used in financing activities		(180,072)		(148,982)
NET INCREASE IN CASH AND CASH EQUIVALENTS		166,958		35,796
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD		116,026	[2]	78,756
CASH AND CASH EQUIVALENTS AT END OF PERIOD		282,984	[2]	114,552
SUPPLEMENTAL DISCLOSURE:
Interest expense paid in cash		38,062		37,497
Income taxes paid in cash		$ 517		$ 4,032
VIE, Primary Beneficiary
Number of consolidated VIEs | Entity		7
[1]	Cash and cash equivalents at January 1, 2016 decreased by $472,000 due to the adoption of the amendments to the consolidation accounting guidance resulting in the deconsolidation of five variable interest entities.
[2]	September 30, 2017December 31, 2016Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Restricted cash12,859 3,308Interest receivable3,126 3,153CRE loans, pledged as collateral and net of allowances of $838 and $763733,746 747,726Loans held for sale38 1,007Principal paydowns receivable— 5,820Investment securities available-for-sale, including securities pledged as collateral— 369Other assets9 58Total assets of consolidated VIEs$749,778 $761,441

CONSOLIDATED STATEMENTS OF CAS9

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from dividend reinvestment and stock purchase plan, offering costs	$ 385	$ 0

ORGANIZATION

ORGANIZATION	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	NOTE 1 - ORGANIZATION Resource Capital Corp., a Maryland corporation, and its subsidiaries (collectively, the "Company") is a real estate investment trust ("REIT") that is primarily focused on originating, holding and managing commercial mortgage loans and commercial real estate ("CRE") related debt investments. The Company is externally managed by Resource Capital Manager, Inc. (the "Manager"), an indirect wholly-owned subsidiary of C-III Capital Partners LLC ("C-III"), a leading CRE investment management and services company engaged in a broad range of activities. C-III is the beneficial owner of approximately 2.3% of the Company’s outstanding common shares at September 30, 2017 . The Company has qualified, and expects to qualify in the current fiscal year, as a REIT. In November 2016, the Company received approval from its board of directors to execute a strategic plan (the "Plan") to focus its strategy on CRE debt investments. The Plan contemplates disposing of certain Legacy CRE loans (loans underwritten prior to 2010), exiting underperforming non-core asset classes (residential real estate-related assets and commercial finance assets) and establishing a dividend policy based on sustainable earnings. As a result, the Company evaluated its residential mortgage and middle market lending segments' assets and liabilities and determined both met all of the criteria to be classified as held for sale in the fourth quarter of 2016. As a result of the reclassification, these segments are reported as discontinued operations and have been excluded from continuing operations. On July 1, 2016, the Company underwent an internal tax restructuring in order to reduce the costs and increase efficiencies by consolidating operations into one centralized entity or group of entities. As a result of this tax restructuring, several of the Company’s directly owned subsidiaries converted from corporations to single member limited liability companies ("LLCs"). In addition, several directly owned subsidiaries of the Company merged into a wholly-owned taxable real estate investment trust subsidiary ("TRS") and were dissolved upon the restructuring. The following subsidiaries are consolidated in the Company’s financial statements: • RCC Real Estate, Inc. ("RCC Real Estate"), a wholly-owned subsidiary, holds CRE loans, CRE related securities and historically has held direct investments in real estate. RCC Real Estate owns 100% of the equity of the following variable interest entities ("VIEs"): ◦ RREF CDO 2006-1 and RREF CDO 2007-1 were established to complete a collateralized debt obligation ("CDO") issuance secured by a portfolio of CRE loans and commercial mortgage-backed securities ("CMBS"). These entities were deconsolidated at January 1, 2016, and the retained investment was accounted for as an investment security, available-for-sale in the Company's consolidated financial statements. In April 2016 and November 2016, RREF CDO 2006-1 and RREF CDO 2007-1 were liquidated in exchange for the Company's interests. The remaining assets of the CDOs were distributed to the Company, comprised of investment securities available-for-sale and CRE loans held for investment that were recorded at fair value. ◦ Resource Capital Corp. CRE Notes 2013, Ltd. ("RCC CRE Notes 2013") and Resource Capital Corp. 2014-CRE2, Ltd. ("RCC 2014-CRE2") were established to complete CRE securitization issuances secured by a portfolio of CRE loans. In December 2016 and August 2017, RCC CRE Notes 2013 and RCC 2014-CRE2, respectively, were liquidated and, as a result, the remaining assets were returned to the Company in exchange for the Company's preference shares and equity notes in the securitizations. ◦ Resource Capital Corp. 2015-CRE3, Ltd. ("RCC 2015-CRE3"), Resource Capital Corp. 2015-CRE4, Ltd. ("RCC 2015-CRE4") and Resource Capital Corp. 2017-CRE5, Ltd. ("RCC 2017-CRE5") were each established to complete CRE securitization issuances secured by a separate portfolio of loans. • RCC Commercial, Inc. ("RCC Commercial"), a wholly-owned subsidiary, holds a 29.6% investment in NEW NP, LLC ("NEW NP, LLC"), which holds syndicated corporate loan investments and one directly originated middle market loan. • RCC Commercial II, Inc. ("Commercial II"), a wholly-owned subsidiary, invests in structured notes and subordinated notes of foreign, syndicated corporate loan collateralized loan obligation ("CLO") vehicles. Commercial II owns 100% of the equity of Apidos Cinco CDO, a TRS, that was established to complete a CDO issuance secured by a portfolio of syndicated corporate loans, ABS and corporate bonds. This entity was deconsolidated at January 1, 2016, and the retained investment was accounted for as an investment security, available-for-sale. In November 2016, the Company liquidated and sold substantially all of Apidos Cinco CDO assets. The remaining assets were consolidated by the Company upon liquidation and are marked at fair value. • RCC Commercial III, Inc. ("Commercial III"), a wholly-owned subsidiary, holds investments in syndicated corporate loan investments. Commercial III owns 90% of the equity of a VIE, Apidos CDO I, LTD. ("Apidos CDO I"). Apidos CDO I, a TRS, was established to complete a CDO issuance secured by a portfolio of syndicated corporate loans and ABS. In October 2014, the Company liquidated Apidos CDO I and, as a result, substantially all of the assets were sold. • RSO EquityCo, LLC, a wholly-owned subsidiary, owned 10% of the equity of Apidos CDO I and 10% of the equity of Apidos CLO VIII, Ltd. ("Apidos CLO VIII"), a TRS. • RCC Residential Portfolio, Inc. ("RCC Resi Portfolio"), a wholly-owned subsidiary, historically invested in residential mortgage-backed securities ("RMBS"). This entity's investment securities were liquidated as of September 30, 2017. • RCC Residential Portfolio TRS, Inc. ("RCC Resi TRS"), a wholly-owned TRS, was formed to hold strategic residential mortgage positions which could not be held by RCC Resi Portfolio. RCC Resi TRS also owns 100% of the equity, unless otherwise stated, in the following: ◦ Primary Capital Mortgage, LLC ("PCM"), (formerly known as Primary Capital Advisors, LLC), originates and services residential mortgage loans. In November 2016, PCM's operations were reclassified to discontinued operations. In June 2017, PCM disposed of certain assets and liabilities related to originating, acquiring, processing, underwriting, funding and closing of residential mortgage loans pursuant to an asset purchase agreement. See Note 21 for further discussion. ◦ RCM Global Manager LLC ("RCM Global Manager") owns 9.5% of RCM Global LLC ("RCM Global"). RCM Global holds a portfolio of investment securities, available-for-sale. RCM Global was deconsolidated at January 1, 2016, and the retained investment is now accounted for as an equity method investment. ◦ RCC Residential Depositor, LLC ("RCC Resi Depositor") owns 100% of RCC Residential Acquisition, LLC ("RCC Resi Acquisition"). RCC Resi Acquisitions purchased residential mortgage loans from PCM and transfered the assets to RCC Residential Opportunities Trust ("RCC Opp Trust"). RCC Opp Trust, a wholly-owned statutory trust held a portfolio of residential mortgage loans, available-for-sale. ◦ Long Term Care Conversion Funding, LLC ("LTCC Funding") provides a financing facility to fund the acquisition of life settlement contracts. ◦ Life Care Funding, LLC ("LCF") was established for the purpose of acquiring life settlement contracts. In July 2017, the Company purchased the balance of the outstanding membership interests of LCF, therefore, becoming a single member LLC. ◦ RCC TRS, LLC ("RCC TRS") holds an equity investment in a leasing company and investment securities, trading (through both direct and indirect investments in such securities). RCC TRS also owns equity in the following: ▪ Resource TRS, LLC, a wholly owned subsidiary, which in turn holds a 25.8% investment in NEW NP, LLC. ▪ RCC TRS owns 44.6% of the equity in NEW NP, LLC at September 30, 2017 . In addition, RCC Commercial owns 29.6% of the equity in NEW NP, LLC. NEW NP, LLC holds syndicated corporate loan investments and the self-originated middle market loans. NEW NP, LLC owned 100% of Northport TRS, LLC which held middle market loans. NEW NP, LLC sold its interest in Northport TRS, LLC on August 4, 2016. In November 2016, NEW NP, LLC's operations were reclassified to discontinued operations. See Note 21 for further discussion. ▪ RCC TRS owns 80.2% of the equity in Pelium Capital, L.P. ("Pelium Capital") at September 30, 2017 . Pelium Capital, L.P. held investment securities, trading and was deconsolidated at January 1, 2016. The retained investment is now accounted for as an equity method investment. ◦ Resource Capital Asset Management, LLC ("RCAM") was entitled to collect senior, subordinated, and incentive fees related to CLO issuers to which it provided management services through CVC Credit Partners, L.P. ("CVC Credit Partners"), formerly Apidos Capital Management ("ACM"), a subsidiary of CVC Capital Partners SICAV-FIS, S.A. ("CVC"). C-III sold its 24.0% interest in CVC Credit Partners in August 2017.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2017
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") and the accounting policies set forth in Note 2 included in the Company's annual report on Form 10-K for the year ended December 31, 2016 . The consolidated financial statements include the accounts of the Company, majority owned or controlled subsidiaries and VIEs for which the Company is considered the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation. Basis of Presentation All adjustments necessary to present fairly the Company’s financial position, results of operations and cash flows have been made. Cash and Cash Equivalents Cash and cash equivalents include cash on hand and all highly liquid investments with original maturities of three months or less at the time of purchase. At September 30, 2017 and December 31, 2016 , approximately $278.4 million and $111.6 million , respectively, of the reported cash balances exceeded the Federal Deposit Insurance Corporation deposit insurance limit of $250,000 per institution. However, all of the Company's cash deposits are held at multiple, established financial institutions to minimize credit risk exposure. Allowance for Loan Losses During the three months ended September 30, 2017, the Company refined its process for the computation of its general reserve for loan losses to more fully align with the results of its risk ratings process. This change in estimate did not yield an estimate for the Company's general reserve that was materially different than estimates as determined under the Company's previous method for estimating the general reserve. Loans that are held for investment are carried at cost, net of unamortized acquisition premiums or discounts, loan fees, and origination costs as applicable, unless the loans are deemed impaired. The Company evaluates each loan classified as held-for-investment for impairment at least quarterly. In connection with this evaluation, the Company assesses the performance of each loan and assigns a risk rating based on the collective evaluation of several factors, including but not limited to: collateral performance relative to underwritten plan, time since origination, current implied and/or reunderwritten loan-to-collateral value ratios ("LTV"), risk inherent in the loan structure, and the loan's exit plan. Loans are rated "1" through "5," from less risk to greater risk, in connection with this review. Loan with a risk rating of 5 are individually measured for impairment on a quarterly basis. The general reserve, established for loans not determined to be impaired individually, is based on the Company's loan risk ratings. The Company records a general reserve equal to 1.5% of the aggregate carrying amount of loans with a risk rating of "3," plus 5.0% of the aggregate carrying amount of loans with a risk rating of "4." Discontinued Operations The results of operations of a component or a group of components of the Company that either has been disposed of or is classified as held for sale is reported in discontinued operations if the disposal represents a strategic shift that has or will have a major effect on the Company’s operations and financial results. Income Taxes The Company established a full valuation allowance against its net deferred tax asset of approximately $17.0 million (tax effected $4.5 million ) at September 30, 2017 as the Company believed it was more likely than not that some or all of the deferred tax assets would not be realized. This assessment was based on the Company’s cumulative historical losses and uncertainties as to the amount of taxable income that would be generated in future years. Recent Accounting Standards Accounting Standards Adopted in 2017 In October 2016, the Financial Accounting Standard Board, or "FASB" issued guidance to amend how a reporting entity that is the single decision maker of a VIE should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. The guidance requires that if, under the first characteristic of a primary beneficiary, the reporting entity determines that it is the single decision maker of a VIE, then the reporting entity is required to include all of its direct variable interests in a VIE and, on a proportionate basis, its indirect variable interests in a VIE held through related parties, including related parties that are under common control with the reporting entity, in determining whether it satisfies the second characteristic of a primary beneficiary, the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. If the reporting entity does not satisfy the second characteristic of a primary beneficiary after performing the assessment, the reporting entity is required to evaluate whether it and one or more of its related parties under common control, as a group, have the characteristics of a primary beneficiary. If the characteristics of a primary beneficiary are met as a group, then the party within the related party group that is most closely associated with the VIE is the primary beneficiary. The guidance became effective for annual reporting periods beginning after December 15, 2016, and interim periods within that reporting period. Adoption did not have a material impact on the Company's consolidated financial statements. In March 2016, the FASB issued guidance intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements. The new guidance allows for entities to make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. In addition, the guidance allows employers to withhold shares to satisfy minimum statutory tax withholding requirements up to the employees’ maximum individual tax rate without causing the award to be classified as a liability. The guidance also stipulates that cash paid by an employer to a taxing authority when directly withholding shares for tax-withholding purposes should be classified as a financing activity on the statement of cash flows. This guidance became effective for annual reporting periods beginning after December 15, 2016, and interim periods within that reporting period. Adoption did not have a material impact on the Company's consolidated financial statements. Accounting Standards to be Adopted in Future Periods In July 2017, the FASB issued guidance to improve the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities. Additionally, the guidance simplifies the application of the hedge accounting guidance via certain targeted improvements. The guidance is effective for annual reporting periods beginning after December 15, 2018, and interim periods within that reporting period. Early adoption is permitted. The Company is in the process of evaluating the impact of this guidance. In May 2017, the FASB issued guidance to clarify which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Modification accounting should be applied unless all of the following three criteria are met: (i) the fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified; (ii) the vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified; (iii) the classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The guidance is effective for annual reporting periods beginning after December 15, 2017, and interim periods within that reporting period. Early adoption is permitted. The Company is in the process of evaluating the impact of this guidance. In January 2017, the FASB issued guidance to add the SEC Staff Announcement "Disclosure of the Impact that Recently Issued Accounting Standards will have on the Financial Statements of a Registrant when such Standards are Adopted in a Future Period (in accordance with Staff Accounting Bulletin Topic 11.M)." The announcement applies to the May 2014 guidance on revenue recognition from contracts with customers, the February 2016 guidance on leases and the June 2016 guidance on how credit losses for most financial assets and certain other instruments that are measured at fair value through net income are determined. The announcement provides the SEC staff view that a registrant should evaluate certain recent accounting standards that have not yet been adopted to determine appropriate financial statement disclosures about the potential material effects of those recent accounting standards. If a registrant does not know or cannot reasonably estimate the impact that adoption of the recent accounting standards referenced in this announcement is expected to have on the financial statements, then the registrant should make a statement to that effect and consider the additional qualitative financial statement disclosures to assist the reader in assessing the significance of the impact that the recent accounting standards will have on the financial statements of the registrant when adopted. The Company has not completed its assessment under the new guidance on revenue recognition from contracts with customers, however, it expects to identify similar performance obligations as currently identified; therefore, the Company does not expect a material impact upon the application of this guidance. The Company is currently evaluating the impact of this guidance on leases and the measurement of credit losses on financial instruments and its impact on its consolidated financial statements. In January 2017, the FASB issued guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions, or disposals, of assets or businesses. The guidance provides a screen to determine when an integrated set of assets and activities (a "set") is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired, or disposed of, is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. If the screen is not met, the guidance requires that: (i) to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create an output and (ii) remove the evaluation of whether a market participant could replace missing elements. The guidance also narrows the definition of an output to: the result of inputs and processes applied to those inputs that provide goods or services to customers, investment income (such as dividends or interest), or other revenues. The guidance is effective for annual reporting periods beginning after December 15, 2017, and interim periods within that reporting period. Early adoption is permitted only for certain transactions. The Company is in the process of evaluating the impact of this guidance. In November 2016, the FASB issued guidance to reduce the diversity in practice of the classification and presentation of changes in restricted cash on the statement of cash flows. The guidance requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. The guidance is effective for annual reporting periods beginning after December 15, 2017, and interim periods within that reporting period. Early adoption is permitted. The Company is in the process of evaluating the impact of this guidance. In August 2016, the FASB issued guidance to reduce the diversity in practice around the presentation and classification of certain cash receipts and cash payments in the statement of cash flows. The guidance addresses the following eight specific cash flow issues: (i) debt prepayments or extinguishment costs; (ii) contingent consideration payments made after a business combination; (iii) proceeds from the settlement of insurance claims; (iv) proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies); (v) settlement of zero-coupon debt instruments or other debt instruments with insignificant coupon rates; (vi) distributions received from equity method investees; (vii) beneficial interests in securitization transactions and (viii) separately identifiable cash flows and application of the predominance principle. The guidance is effective for annual reporting periods beginning after December 15, 2017, and interim periods within that reporting period. Early adoption is permitted. The Company is in the process of evaluating the impact of this guidance. In June 2016, the FASB issued guidance which will change how credit losses for most financial assets and certain other instruments that are measured at fair value through net income are determined. The new guidance will replace the current incurred loss approach with an expected loss model for instruments measured at amortized cost. For available-for-sale debt securities, the guidance requires recording allowances rather than reducing the carrying amount, as it is currently under the other-than-temporary impairment model. It also simplifies the accounting model for credit-impaired debt securities and loans. This guidance is effective for annual reporting periods beginning after December 15, 2019, and interim periods within that reporting period. Early adoption is permitted for annual periods beginning after December 15, 2018, and interim periods within that reporting period, with any adjustments reflected as of the beginning of the fiscal year of adoption. The Company is in the process of evaluating the impact of this guidance. In February 2016, the FASB issued guidance requiring lessees to recognize a lease liability and a right-of-use asset for all leases. Lessor accounting will remain largely unchanged. The guidance will also require new qualitative and quantitative disclosures to help financial statement users better understand the timing, amount and uncertainty of cash flows arising from leases. This guidance will be effective for reporting periods beginning on or after December 15, 2018, with early adoption permitted. The Company is in the process of evaluating the impact of this guidance. In January 2016, the FASB issued guidance to address certain aspects of the recognition, measurement, presentation and disclosure of financial instruments in order to provide users of financial statements with more decision-useful information. The guidance requires equity investments to be measured at fair value with changes in fair value recognized in net income; simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment; eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; requires separate presentation of financial assets and financial liabilities by measurement category and form of financial assets on the balance sheet or the accompanying notes to the financial statements, and clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. It is effective for annual reporting periods, and the interim periods within those periods, beginning after December 15, 2017 and early adoption is permitted for certain provisions. The Company is in the process of evaluating the impact of this guidance. In May 2014, the FASB issued guidance that establishes key principles by which an entity determines the amount and timing of revenue recognized from customer contracts. At issuance, the guidance was effective for the first interim or annual period beginning after December 15, 2016. In August 2015, the FASB issued additional guidance that delayed the previous effective date by one year, resulting in the original guidance becoming effective for the first interim or annual period beginning after December 15, 2017. Early application, which was not permissible under the initial effectiveness timeline, is now permissible though no earlier than as of the first interim or annual period beginning after December 15, 2016. In 2016, the FASB issued multiple amendments to the accounting standard to provide further clarification. The Company has not completed its assessment under the new guidance, however, we do not expect that their adoption will have a material impact on our consolidated financial statements, as financial instruments are explicitly scoped out of the standards and nearly all of our income is generated from financial instruments. Reclassifications Certain reclassifications have been made to the 2016 consolidated financial statements to conform to the 2017 presentation, including the impact of discontinued operations and assets and liabilities held for sale.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2017
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), securitizations, guarantees and other financial contracts in order to determine if they are variable interests in VIEs. The Company regularly monitors these legal interests and contracts and, to the extent it has determined that it has a variable interest, analyzes the related entity for potential consolidation. Consolidated VIEs (the Company is the primary beneficiary) Based on management’s analysis, the Company is the primary beneficiary of Apidos CDO I, Apidos CDO III, Apidos Cinco CDO, Whitney CLO I, RCC 2015-CRE3, RCC 2015-CRE4 and RCC 2017-CRE5 at September 30, 2017 ; and at December 31, 2016 , the Company was the primary beneficiary of the Apidos CDO I, Apidos CDO III, Apidos Cinco CDO, Whitney CLO I, RCC 2014-CRE2, RCC 2015-CRE3 and RCC 2015-CRE4 (for each period, collectively the "Consolidated VIEs"). The Consolidated VIEs were formed on behalf of the Company to invest in real estate-related securities, CMBS, syndicated corporate loans, corporate bonds and asset-backed securities and were financed by the issuance of debt securities. The Manager manages the CRE related entities, and CVC Credit Partners manages the commercial finance-related entities on behalf of the Company, respectively. By financing these assets with long-term borrowings through the issuance of debt securities, 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. All of the Company's VIEs were reevaluated under the revised consolidation model effective for the Company on January 1, 2016. In August 2017, RCC 2014-CRE2 was liquidated and, as a result, the remaining assets were returned to the Company in exchange for the Company's preference shares and equity notes in the securitization. On November 14, 2016, the Company substantially liquidated Apidos Cinco CDO, a syndicated corporate loan CLO determined to be a VIE that is managed by CVC Credit Partners. As a result of the liquidation, all senior and mezzanine notes of the securitization were repaid, leaving only the Company's equity interest in the securitization outstanding as of December 31, 2016. Because substantially all of the VIE's activities are being conducted on behalf of a single variable interest holder that is a related party of the decision maker, it was determined that the Company is the primary beneficiary of the transaction and, as such, should consolidate Apidos Cinco CDO. The Company consolidated the remaining restricted cash, one structured security and three syndicated corporate loans for an aggregate combined fair value of $2.3 million . The Company received cash distributions of $22.4 million as a result of the liquidation through September 30, 2017 . The Company elected the fair value option for the structured security and syndicated corporate loans upon acquisition. The Company believes fair value is the most useful indication of value for these assets given the short hold period 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. For a discussion of the Company’s consolidated securitizations, see Note 1 , and for a discussion of the debt issued through the securitizations, see Note 10 . 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 operations. The Company has exposure to losses on its securitizations to the extent of its subordinated debt and preferred equity investments 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 seven consolidated VIEs have no recourse to the general credit of the Company nor to each other. During the three and nine months ended September 30, 2017 , the Company provided no financial support to any 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 at September 30, 2017 (in thousands): CRE Securitizations Other Total ASSETS Restricted cash $ 12,302 $ 557 $ 12,859 Loans, pledged as collateral 733,746 — 733,746 Loans held for sale — 38 38 Interest receivable 3,126 — 3,126 Other assets 9 — 9 Total assets (1) $ 749,183 $ 595 $ 749,778 LIABILITIES Borrowings $ 465,531 $ — $ 465,531 Accrued interest expense 566 — 566 Accounts payable and other liabilities 45 — 45 Total liabilities $ 466,142 $ — $ 466,142 (1) Assets of each of the consolidated VIEs may only be used to settle the obligations of each respective VIE. 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 at September 30, 2017 . 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. RREF CDO 2006-1 and RREF CDO 2007-1 RREF CDO 2006-1 and RREF CDO 2007-1 were formed on behalf of the Company to invest in real estate-related securities and CMBS and were financed by the issuance of debt securities. The Manager manages the CRE related entities on behalf of the Company. The primary beneficiary determination for each of these VIEs was made at each VIE’s inception and is continually assessed. On January 1, 2016, the Company adopted the amendments to the consolidation guidance. As a result of its evaluation, the Company determined that it was no longer the primary beneficiary of these VIEs as its investments in these vehicles do not provide the Company with a controlling financial interest and were deconsolidated. At deconsolidation, the Company recorded its investments in these VIEs at fair value and accounted for these investments as investment securities available-for-sale in its consolidated financial statements. In April 2016, the Company liquidated its investment in RREF CDO 2006-1 and, as a result, exchanged its interest in RREF CDO 2006-1 for the CDO's remaining assets with a fair value of $65.7 million after paying off the CDO's third-party debt of $7.5 million and recognized a gain of approximately $846,000 as a result of this transaction, which was recorded in net realized and unrealized gain (loss) on investment securities available-for-sale and loans and derivatives on the consolidated statements of operations. In November 2016, the Company liquidated its investment in RREF CDO 2007-1 and, as a result, exchanged its interest in RREF CDO 2007-1 for the CDO's remaining assets with a fair value of $130.9 million after paying off the CDO's third-party debt of $33.7 million and recognized a gain of approximately $2.1 million as a result of this transaction, which was recorded in net realized and unrealized gain (loss) on investment securities available-for-sale and loans and derivatives on the consolidated statements of operations. RCM Global, LLC In July 2014, the Company, together with Resource America, Inc. ("Resource America") and certain Resource America employees, acquired through RCM Global a portfolio of available-for-sale securities for $23.5 million . The portfolio is managed by Resource America. The Company c ontributed $15.0 million for a 63.8% membership interest. Revenues and expenses of RCM Global are allocated to each member in accordance with their membership interest. In March and June 2015, the Company requested and received an in-kind distribution in certain securities held by RCM Global resulting in a reduction of its ownership interest. RCM Global was determined to be a VIE based on the majority equity interest holders' inability to direct the activities that are most significant to the entity. On January 1, 2016, the Company adopted the amendments to the consolidation guidance. Upon adoption, the Company reevaluated its variable interest in RCM Global and determined it would no longer be the primary beneficiary of RCM Global, as its investment in the limited liability company did not provide the Company with a controlling financial interest. As a result of its evaluation, the Company deconsolidated its investment in RCM Global. As of January 1, 2016, the Company accounted for its investment in RCM Global as an equity method investment in investments in unconsolidated entities in its consolidated financial statements. At September 30, 2017 , the Company held a 9.5% interest in RCM Global with a fair value of $32,000 , and the remainder was owned by subsidiaries of Resource America and certain of its employees and their spouses. Pelium Capital, L.P. In September 2014, the Company contributed $17.5 million to Pelium Capital for an initial ownership interest of 80.4% , and subsequently funded its final commitment of $ 2.5 million in February 2015. Pelium Capital is a specialized credit opportunity fund managed by an indirect wholly-owned subsidiary of C-III. The Company will receive 10% of the carried interest in the partnership. Resource America contributed cash of $2.8 million to the formation of Pelium Capital. At December 31, 2015, Pelium Capital was accounted for as a consolidated voting interest subsidiary. On January 1, 2016, the Company adopted the amendments to the consolidation guidance. Upon adoption, the Company reevaluated its interest in Pelium Capital and determined that although it now possessed a variable interest in Pelium Capital, it would not be the primary beneficiary of Pelium Capital, as its investment in the limited liability company does not provide the Company with a controlling financial interest. As a result of its reevaluation, the Company deconsolidated its investment in Pelium Capital on January 1, 2016, and accounted for its investment as an equity method investment in investments in unconsolidated entities in its consolidated financial statements. At September 30, 2017 , the Company had an investment balance of $12.3 million and held an 80.2% interest in Pelium Capital. Pearlmark Mezzanine Realty Partners IV, L.P. In June 2015, the Company committed up to $50.0 million in Pearlmark Mezzanine Realty Partners IV, L.P. ("Pearlmark Mezz"), a Delaware limited partnership created to acquire and manage financial interests in CRE property. The investment advisor is Pearlmark Real Estate LLC ("Pearlmark Manager"), which was 50% owned by Resource America. The Company determined it possessed a variable interest in Pearlmark Mezz; however, it would not be the primary beneficiary of Pearlmark Mezz, as its investment in the limited liability company does not provide the Company with a controlling financial interest. The Company accounted for its investment in Pearlmark Mezz as an equity method investment in investments in unconsolidated entities in its consolidated financial statements. The Company paid Pearlmark Manager management fees of 1.0% on the unfunded committed capital and 1.5% on the invested capital. The Company was entitled to a management fee rebate of 25% for the first year of the fund, which ended in June 2016. Resource America agreed to credit any such fees paid by the Company to Pearlmark Manager against the base management fee that the Company paid the Manager. In May 2017, the Company sold its equity interest in Pearlmark Mezz for proceeds of $16.2 million and recognized a net loss of $345,000 , which was recorded in equity in earnings of unconsolidated entities on the Company's consolidated statements of operations. LEAF Commercial Capital, Inc. In November 2011, the Company entered into an agreement to exchange its lease-related investments for shares of LEAF Commercial Capital, Inc.'s ("LCC") Series A, Series B and Series D Preferred Stock. During 2013, the Company entered into an additional agreement with LCC to purchase shares of Series A-1 and Series E Preferred Stock. The Series E Preferred Stock expired and as a result was exchanged for additional Series A-1 Preferred Stock. The Company determined that it is not the primary beneficiary of LCC because it did not participate in any management or portfolio decisions, held only two of six board positions, and did not have controlling voting rights in the entity and as a result accounted for its investment in LCC as an equity method investment in investments in unconsolidated entities in its consolidated financial statements. In July 2017, the Company received cash proceeds of $84.3 million and realized a gain of $41.1 million in connection with the sale of its investment in LCC. 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"), respectively, with a value of $1.5 million in the aggregate (or 3% of each trust) at September 30, 2017 . 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 of $774,000 each as investments in unconsolidated entities 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 each of RCT I and 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 syndicated corporate loan assets through five CLOs. As a result, the Company became entitled to collect senior, subordinated and incentive management fees from the CLOs. This intangible asset was allocated to each of the five CLOs and was amortized over the expected life of each CLO. As of March 2017, the last of the five CLOs was liquidated; and, as a result, any remaining balance of the Company's associated intangible asset was written off. The following table shows the classification, carrying value and maximum exposure to loss with respect to the Company’s unconsolidated VIEs at September 30, 2017 (in thousands): Unconsolidated Variable Interest Entities Unsecured Junior Subordinated Debentures RCM Global LLC Pelium Capital Total Maximum Exposure to Loss Investments in unconsolidated entities $ 1,548 $ 32 $ 12,336 $ 13,916 $ 13,916 Total assets 1,548 32 12,336 13,916 Borrowings 51,548 — — 51,548 N/A Total liabilities 51,548 — — 51,548 N/A Net asset (liability) $ (50,000 ) $ 32 $ 12,336 $ (37,632 ) N/A At September 30, 2017 , 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 INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Sep. 30, 2017
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	NOTE 4 - SUPPLEMENTAL CASH FLOW INFORMATION The following table summarizes the Company's supplemental disclosure of cash flow information (in thousands): For the Nine Months Ended September 30, 2017 2016 Non-cash discontinued operating activities include the following: Interest expense paid by third party (1) $ — $ (107 ) Operating liabilities assumed by third party (1) $ — $ (192 ) Non-cash continuing investing activities include the following: Retained beneficial interest in unconsolidated securitization entities $ — $ (22,476 ) Loans acquired through collateralized debt obligation liquidation $ — $ (44,893 ) Securities acquired through collateralized debt obligation liquidation $ — $ (20,837 ) Non-cash continuing financing activities include the following: Proceeds from the private exchange of convertible senior notes $ 22,161 $ — Payments on the private exchange of convertible senior notes $ (22,161 ) $ — Distributions on common stock accrued but not paid $ 1,566 $ 13,012 Distribution on preferred stock accrued but not paid $ 4,010 $ 4,010 Non-cash discontinued financing activities include the following: Senior secured revolving credit facility assumed by third party (1) $ — $ (122,000 ) Senior secured revolving credit facility paid down by third party (1) $ — $ (22,000 ) (1) In August 2016, the Company completed the sale of Northport TRS, LLC. The Purchaser assumed $122.0 million and paid down $22.0 million of principal and $107,000 of interest expense on the Company’s behalf of the senior secured revolving credit agreement. The Purchaser assumed $192,000 of accounts payable and accrued legal fees recorded to complete the sale.

LOANS

LOANS	9 Months Ended
	Sep. 30, 2017
LOANS HELD FOR INVESTMENT [Abstract]
LOANS	NOTE 5 - LOANS The following is a summary of the Company’s loans (dollars in thousands): Loan Description Quantity Principal Unamortized (Discount) (1) Amortized Cost Allowance for Loan Losses Carrying (2) Contracted Interest Rates (3) Maturity Dates (4) At September 30, 2017: CRE whole loans, floating rate (5) 65 $ 1,274,453 $ (6,112 ) $ 1,268,341 $ (4,077 ) $ 1,264,264 LIBOR plus 3.75% to LIBOR plus 6.25% February 2017 to October 2020 Total CRE loans held for investment 1,274,453 (6,112 ) 1,268,341 (4,077 ) 1,264,264 Syndicated corporate loans (6) 2 38 — 38 — 38 n/a n/a Total loans held for sale 38 — 38 — 38 Total loans $ 1,274,491 $ (6,112 ) $ 1,268,379 $ (4,077 ) $ 1,264,302 At December 31, 2016: CRE whole loans, floating rate (5) 67 $ 1,295,926 $ (5,819 ) $ 1,290,107 $ (3,829 ) $ 1,286,278 LIBOR plus 3.75% to LIBOR plus 6.45% April 2017 to January 2020 Total CRE loans held for investment 1,295,926 (5,819 ) 1,290,107 (3,829 ) 1,286,278 Syndicated corporate loans (6) 3 1,007 — 1,007 — 1,007 n/a n/a Total loans held for sale 1,007 — 1,007 — 1,007 Total loans $ 1,296,933 $ (5,819 ) $ 1,291,114 $ (3,829 ) $ 1,287,285 (1) Amounts include unamortized loan origination fees of $5.8 million and $5.8 million and deferred amendment fees of $310,000 and $4,000 being amortized over the life of the loans at September 30, 2017 and December 31, 2016 , respectively. (2) Substantially all loans are pledged as collateral under various borrowings at September 30, 2017 and December 31, 2016 . (3) LIBOR refers to London Interbank Offered Rate. (4) Maturity dates do not include possible extension options that may be available to the borrowers. (5) CRE whole loans had $65.1 million and $55.5 million in unfunded loan commitments at September 30, 2017 and December 31, 2016 , 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. (6) All syndicated corporate loans are second lien loans. The following is a summary of the contractual maturities, assuming full exercise of the extension options available to the borrower, of the Company’s CRE loans held for investment, at amortized cost (in thousands): Description 2017 2018 2019 and Thereafter Total At September 30, 2017: CRE whole loans $ 58,986 $ 9,188 $ 1,200,167 $ 1,268,341 Total $ 58,986 $ 9,188 $ 1,200,167 $ 1,268,341 At December 31, 2016: 2017 2018 2019 and Thereafter Total CRE whole loans $ 7,000 $ 24,476 $ 1,258,631 $ 1,290,107 Total $ 7,000 $ 24,476 $ 1,258,631 $ 1,290,107 At September 30, 2017 , approximately 25.1% , 24.2% and 16.9% of the Company's CRE loan portfolio was concentrated in the Southwest, Pacific and Southeast, respectively, based on carrying value, as defined by the National Council of Real Estate Investment Fiduciaries ("NCREIF"). At December 31, 2016 , approximately 30.7% , 20.4% , and 15.5% of the Company's CRE loan portfolio was concentrated in the Southwest, Pacific and Southeast, respectively, based on carrying value. Principal Paydowns Receivable Principal paydowns receivable represent loan principal payments that have been received by the Company's servicers and trustees. At September 30, 2017 , the Company had $10.9 million of principal paydowns receivable, all of which was received in cash by the Company during October 2017. Of this amount, $175,000 relates to a Legacy CRE loan classified as an asset held for sale on the Company's consolidated balance sheets. At December 31, 2016 , the Company had $19.3 million of principal paydowns receivable, all of which was received by the Company in cash during January 2017.

FINANCING RECEIVABLES

FINANCING RECEIVABLES	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
FINANCING RECEIVABLES	NOTE 6 - FINANCING RECEIVABLES The following tables show the allowance for loan and lease losses and recorded investments in loans and leases for the periods indicated (in thousands): Nine Months Ended September 30, 2017 Year Ended December 31, 2016 Commercial Real Estate Loans Syndicated Corporate Loans Direct Financing Leases Total Commercial Real Estate Loans Syndicated Corporate Loans Direct Financing Leases Total Allowance for loan and lease losses: Allowance for loan and lease losses at beginning of period $ 3,829 $ — $ 465 $ 4,294 $ 41,839 $ 1,282 $ 465 $ 43,586 Provision for (recovery of) loan and lease losses 248 — 270 518 18,167 (402 ) — 17,765 Loans charged-off — — — — — 402 — 402 Transfer to loans held for sale — — — — (15,763 ) — — (15,763 ) Deconsolidation of VIEs — — — — (40,414 ) (1,282 ) — (41,696 ) Allowance for loan and lease losses at end of period $ 4,077 $ — $ 735 $ 4,812 $ 3,829 $ — $ 465 $ 4,294 Allowance for loan and lease losses ending balance: Individually evaluated for impairment $ 2,500 $ — $ 735 $ 3,235 $ 2,500 $ — $ 465 $ 2,965 Collectively evaluated for impairment $ 1,577 $ — $ — $ 1,577 $ 1,329 $ — $ — $ 1,329 Loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — $ — $ — Loans and Leases: Amortized cost ending balance: Individually evaluated for impairment $ 7,000 $ — $ 902 $ 7,902 $ 7,000 $ — $ 992 $ 7,992 Collectively evaluated for impairment $ 1,261,341 $ — $ — $ 1,261,341 $ 1,283,107 $ — $ — $ 1,283,107 Loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — $ — $ — Credit quality indicators Commercial Real Estate Loans The Company's CRE loans are collateralized by a diversified mix of real estate properties and are assessed for credit quality based on the collective evaluation of several factors, including but not limited to: collateral performance relative to underwritten plan, time since origination, current implied and/or reunderwritten LTV, loan structure, and the loan's exit plan. Depending on the loan's performance against these various factors, loans are rated on a scale from 1 to 5, with loans rated 1 representing loans with the highest credit quality and loans rated 5 representing loans with lowest credit quality. The factors evaluated provide general criteria to monitor credit migration in the Company's loan portfolio, as such, a loan's rating may improve or worsen, depending on new information received. The criteria set forth below should be used as general guidelines, and, therefore, not every loan will have all of the characteristics described in each category below. Loans that are performing according to their underwritten plans generally will not require an allowance for loan loss. Risk Rating Risk Characteristics 1 • Property performance has surpassed underwritten expectations. • Occupancy is stabilized, the property has had a history of consistently high occupancy, and the property has a diverse and high quality tenant mix. 2 • Property performance is consistent with underwritten expectations and covenants and performance criteria are being met or exceeded. • Occupancy is stabilized, near stabilized or is on track with underwriting. 3 • Property performance lags behind underwritten expectations. • Occupancy is not stabilized and the property has some rollover. 4 • Property performance significantly lags behind underwritten expectations. Performance criteria and loan covenants have required occasional waivers. • Occupancy is not stabilized and the property has a large amount of rollover. 5 • Property performance is significantly worse than underwritten expectations. The loan is not in compliance with loan covenants and performance criteria and is in default. Sale proceeds would not be sufficient to pay off the loan at maturity. • The property has material vacancy and significant rollover of remaining tenants. • An updated appraisal is required. CRE whole loans are evaluated for any credit deterioration by debt asset management and certain finance personnel on at least a quarterly basis. Loans are first individually evaluated for impairment; and to the extent not deemed impaired, a general reserve is established. The allowance for loan loss is computed as (i) 1.5% of the aggregate carrying amount of loans rated as a 3, plus (ii) 5% of the aggregate carrying amount of loans rated as a 4, plus (iii) specific allowances measured and determined on loans individually evaluated, which are loans rated 5. While the overall risk rating is generally not the sole factor used in determining whether a loan is impaired, a loan with a higher overall risk rating would tend to have more adverse indicators of impairment, and therefore would be more likely to experience a credit loss. Credit risk profiles of CRE whole loans at amortized cost are as follows (in thousands): Rating 1 Rating 2 Rating 3 Rating 4 Rating 5 Held for Sale Total At September 30, 2017: CRE whole loans (1)(3) $ 64,976 $ 1,102,594 $ 88,938 $ 4,833 $ 7,000 $ — $ 1,268,341 Legacy CRE whole loans (1)(2) — — — — — 78,459 78,459 $ 64,976 $ 1,102,594 $ 88,938 $ 4,833 $ 7,000 $ 78,459 $ 1,346,800 At December 31, 2016: CRE whole loans (1) $ 1,186,292 $ 96,815 $ — $ 7,000 $ — $ — $ 1,290,107 Legacy CRE whole loans (1) — — — — — 158,178 158,178 $ 1,186,292 $ 96,815 $ — $ 7,000 $ — $ 158,178 $ 1,448,285 (1) Pursuant to the Company's strategic plan described in Note 1 , certain Legacy CRE whole loans were moved to loans held for sale and included in assets held for sale carried at the lower of cost or fair value on the Company's consolidated balance sheets at September 30, 2017 and December 31, 2016 , respectively ( see Note 21 ). (2) Includes one loan with a maturity date of May 2017 that is currently in default. (3) Includes one loan with a maturity date of November 2017 that entered into technical default in November 2017. At September 30, 2017 and December 31, 2016 , the Company had one CRE whole loan with a credit quality rating of 5 under the Company's current rating methodology and 4 under the Company's previous rating methodology, respectively, due to short term vacancy/tenant concerns and a past due maturity of February 2017. The CRE whole loan is collateralized by a retail shopping center in Roswell, GA and had an amortized cost of $7.0 million at September 30, 2017 and December 31, 2016 . For the period ended December 31, 2016 , the Company obtained an appraisal and used the value indicated in the appraisal as a practical expedient in determining the fair value of the loan. The appraisal indicated a fair value of $4.5 million , and the Company recorded a specific provision of $2.5 million on the loan during the fourth quarter of 2016. No additional provision was recorded on the loan for the three or nine months ended September 30, 2017 . This loan is in default at September 30, 2017 . At December 31, 2016 , the Company had eight Legacy CRE whole loans and one mezzanine loan included in assets held for sale with a total carrying value of $158.2 million . Appraisals, as a practical expedient for fair value, were obtained for all eight Legacy CRE whole loans classified as assets held for sale. The mezzanine loan had a fair value of $0 . The Company recorded, and subsequently charged off upon transfer of the loans to assets held for sale, specific reserves on four of the five loans transferred to assets held for sale totaling $15.8 million , where the carrying values of the loans exceeded their fair values. These five loans had a collective carrying value of $110.7 million at December 31, 2016 and were comprised of the following: • Two CRE whole loans cross-collateralized by a hotel in Studio City, CA, with an initial par value of $67.5 million . These loans were written down to their collective appraised value of $61.4 million . The loans had a maturity date of February 2017. On June 30, 2017, the borrower sold the collateral underlying these loans. Proceeds of $67.0 million were received by the Company in July 2017. As a result of this transaction, the Company realized a gain of $5.6 million included in the Company's consolidated statements of operations as net realized and unrealized gain on investment securities available-for-sale and loans and derivatives during the nine months ended September 30, 2017; • One CRE whole loan collateralized by a hotel in Tucson, AZ with an initial par value of $32.5 million . This loan was written down to its appraised value of $14.3 million . On February 28, 2017, the Company entered into a discounted payoff agreement with its borrower and received proceeds of $21.3 million in satisfaction of this loan. This transaction resulted in the recognition of a realized gain of $7.0 million in the Company's consolidated statements of operations as net realized and unrealized gain on investment securities available-for-sale and loans and derivatives: • One CRE whole loan collateralized by an office property in Phoenix, AZ with an initial par value of $17.7 million . This loan was written down to its appraised value of $11.0 million . The loan had a maturity date of May 2017 and is currently in default; • One CRE whole loan collateralized by a hotel in Palm Springs, CA with an initial par value of $29.5 million . This loan was written down to its appraised value of $24.0 million . As a result of the aforementioned transactions related to each of the Studio City, CA properties and the Tucson, AZ property, two of the five aforementioned Legacy CRE whole loans remain at September 30, 2017 and have a collective carrying value of $35.0 million . At September 30, 2017 , 50% , 36% and 14% of the Company's Legacy CRE whole loans were concentrated in hotel, retail and office, respectively. Of these loans, 86% are within the Pacific region and 14% are within the Mountain region, as defined by NCREIF. At December 31, 2016 , 54% , 39% and 7% of the Company's Legacy CRE whole loans were concentrated in hotel, retail and office, respectively. Of these loans, 84% are within the Pacific region and 16% are within the Mountain region. Three CRE whole loans held for sale with a collective carrying value of $44.6 million at September 30, 2017 and December 31, 2016 had fair values in excess of their carrying values. Before being transferred to assets held for sale in the fourth quarter of 2016, these loans were risked-rated in category 1 or category 2 (under the Company's previous rating methodology). All of the Company's CRE whole loans were current with respect to contractual principal and interest except one defaulted CRE whole loan collateralized by a retail shopping center in Roswell, GA that had a carrying value of $4.5 million at September 30, 2017 and one defaulted Legacy CRE loan, classified as an asset held for sale, collateralized by an office property in Phoenix, AZ that had a carrying value of $11.0 million at September 30, 2017 . Two of the Company's Legacy CRE whole loans cross-collateralized by a property in Studio City, CA with a collective carrying value, which was the lower of its cost or fair market value, of $61.4 million were in default at December 31, 2016 . Subsequent to the quarter ended September 30, 2017 , the Company had one CRE whole loan with a maturity date of November 5, 2017, collateralized by a hotel property in Miami Beach, FL, that fell into technical default. The loan had an amortized cost of $52.0 million and was risk rated a 4 at September 30, 2017 . Direct Financing Leases During the three and nine months ended September 30, 2017 , the Company recorded a provision for lease losses against the value of its direct financing leases in the amount of $0 and $270,000 , respectively. The Company held $167,000 and $527,000 of direct financing leases, net of reserves, at September 30, 2017 and December 31, 2016 , respectively. Loan Portfolios Aging Analysis The following table presents the loan and lease 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 At September 30, 2017: CRE whole loans (1) $ — $ — $ 7,000 $ 7,000 $ 1,261,341 $ 1,268,341 $ — Legacy CRE loans (2) — — 11,000 11,000 67,459 78,459 — Syndicated corporate loans — — — — — — — Direct Financing Leases — — 269 269 633 902 — Total loans $ — $ — $ 18,269 $ 18,269 $ 1,329,433 $ 1,347,702 $ — At December 31, 2016: CRE whole loans $ — $ — $ — $ — $ 1,290,107 $ 1,290,107 $ — Legacy CRE loans (3) 61,400 — — 61,400 96,792 158,192 — Syndicated corporate loans — — — — — — — Direct Financing Leases 137 — 128 265 727 992 — Total loans $ 61,537 $ — $ 128 $ 61,665 $ 1,387,626 $ 1,449,291 $ — (1) Includes one whole loan with an amortized cost of $7.0 million that was in default at September 30, 2017 , on which the Company recorded a $2.5 million provision for loan loss. (2) Includes one loan with an appraised value of $11.0 million that was in default at September 30, 2017 . (3) Includes two loans with an appraised value of $61.4 million that were in default at December 31, 2016 . 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 At September 30, 2017: Loans without a specific valuation allowance: CRE whole loans $ — $ — $ — $ — $ — Syndicated corporate loans $ — $ — $ — $ — $ — Loans with a specific valuation allowance: CRE whole loans $ 7,000 $ 7,000 $ (2,500 ) $ 7,000 $ — Syndicated corporate loans $ — $ — $ — $ — $ — Total: CRE whole loans $ 7,000 $ 7,000 $ (2,500 ) $ 7,000 $ — Syndicated corporate loans — — — — — $ 7,000 $ 7,000 $ (2,500 ) $ 7,000 $ — At December 31, 2016: Loans without a specific valuation allowance: CRE whole loans $ — $ — $ — $ — $ — Syndicated corporate loans $ — $ — $ — $ — $ — Loans with a specific valuation allowance: CRE whole loans $ 7,000 $ 7,000 $ (2,500 ) $ 7,000 $ 480 Syndicated corporate loans $ — $ — $ — $ — $ — Total: CRE whole loans $ 7,000 $ 7,000 $ (2,500 ) $ 7,000 $ 480 Syndicated corporate loans — — — — — $ 7,000 $ 7,000 $ (2,500 ) $ 7,000 $ 480 Troubled-Debt Restructurings ("TDR") The following tables show TDRs in the Company's loan portfolio (dollars in thousands): Nine Months Ended September 30, 2017 Nine Months Ended September 30, 2016 Number of Loans Pre-Modification Outstanding Recorded Balance Post-Modification Outstanding Recorded Balance Number of Loans Pre-Modification Outstanding Recorded Balance Post-Modification Outstanding Recorded Balance CRE whole loans — $ — $ — 3 $ 29,459 $ 21,400 Total loans — $ — $ — 3 $ 29,459 $ 21,400

INVESTMENT SECURITIES, TRADING

INVESTMENT SECURITIES, TRADING	9 Months Ended
	Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES, TRADING	NOTE 7 - INVESTMENT SECURITIES, TRADING Structured notes are CLO debt securities collateralized by syndicated corporate loans. The following table summarizes the Company's structured notes classified as investment securities, trading and carried at fair value (in thousands, except number of securities): Number of Securities Amortized Cost Unrealized Gains Unrealized Losses Fair Value At September 30, 2017: Structured notes 5 $ 2,891 $ — $ (2,729 ) $ 162 Total 5 $ 2,891 $ — $ (2,729 ) $ 162 At December 31, 2016: Structured notes 6 $ 6,242 $ 920 $ (2,670 ) $ 4,492 Total 6 $ 6,242 $ 920 $ (2,670 ) $ 4,492 The Company sold zero and one investment security for a realized gain of $0 and $9,000 during the three and nine months ended September 30, 2017 . The Company sold no investment securities during the three and nine months ended September 30, 2016 .

INVESTMENT SECURITIES AVAILABLE

INVESTMENT SECURITIES AVAILABLE-FOR-SALE	9 Months Ended
	Sep. 30, 2017
Available-for-sale Securities [Abstract]
INVESTMENT SECURITIES AVAILABLE-FOR-SALE	NOTE 8 - INVESTMENT SECURITIES AVAILABLE-FOR-SALE The following table summarizes the Company's investment securities available-for-sale, including those pledged as collateral. ABS may include, but are not limited to the Company's investments in the Harvest CLOs, which are euro-denominated CLO investments backed by syndicated bank loans, and other securities backed by syndicated corporate loans and other loan obligations. These securities are carried at fair value (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value (1) At September 30, 2017: ABS $ 1,753 $ 1,580 $ — $ 3,333 CMBS 185,508 901 (569 ) 185,840 Total $ 187,261 $ 2,481 $ (569 ) $ 189,173 At December 31, 2016: ABS $ 21,365 $ 3,988 $ (73 ) $ 25,280 CMBS 98,525 425 (863 ) 98,087 RMBS 1,526 77 (2 ) 1,601 Total $ 121,416 $ 4,490 $ (938 ) $ 124,968 (1) At September 30, 2017 and December 31, 2016 , $166.0 million and $97.5 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 investment securities available-for-sale according to their estimated weighted average life classifications (in thousands, except percentages): September 30, 2017 December 31, 2016 Amortized Cost Fair Value Weighted Average Coupon Amortized Cost Fair Value Weighted Average Coupon Less than one year (1) $ 46,355 $ 46,192 4.90% $ 80,801 $ 80,325 5.60% Greater than one year and less than five years 100,132 100,850 4.47% 17,197 17,408 4.52% Greater than five years and less than ten years 40,774 42,131 5.45% 9,622 12,936 10.68% Greater than ten years — — —% 13,796 14,299 10.39% Total $ 187,261 $ 189,173 4.79% $ 121,416 $ 124,968 6.39% (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 September 30, 2017 , the contractual maturities of the CMBS investment securities available-for-sale range from June 2022 to November 2059 . The contractual maturities of the ABS investment securities available-for-sale range from May 2018 to April 2023 . The following table summarizes the fair value, gross unrealized losses and number of securities aggregated by investment category and the 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 Value Unrealized Losses Number of Securities Fair Value Unrealized Losses Number of Securities Fair Value Unrealized Losses Number of Securities At September 30, 2017: CMBS $ 37,519 $ (412 ) 13 $ 15,331 $ (157 ) 7 $ 52,850 $ (569 ) 20 Total temporarily impaired securities $ 37,519 $ (412 ) 13 $ 15,331 $ (157 ) 7 $ 52,850 $ (569 ) 20 At December 31, 2016: ABS $ — $ — — $ 828 $ (73 ) 1 $ 828 $ (73 ) 1 CMBS 30,869 (436 ) 10 26,616 (427 ) 15 57,485 (863 ) 25 RMBS 662 (2 ) 1 — — — 662 (2 ) 1 Total temporarily impaired securities $ 31,531 $ (438 ) 11 $ 27,444 $ (500 ) 16 $ 58,975 $ (938 ) 27 The unrealized losses in the above table are considered to be temporary impairments due to market factors and are not reflective of credit deterioration. The Company recognized no other-than-temporary impairment on its investment securities available-for-sale for the three and nine months ended September 30, 2017 . During the three and nine months ended September 30, 2016 , the Company recognized a $21.6 million other-than-temporary impairment on its investment securities available-for-sale. Of this amount, $20.7 million related to the Company’s previously consolidated CRE CDO, RREF 2007-1, which was classified as an investment security available-for-sale. The impairment charge on the security reflected the credit impact to the fair value of the security given the results of updated appraisals on the underlying collateral, which reduced the Company's cost basis in the security permanently. The Company recorded an other-than-temporary impairment of $241,000 on three positions classified as securities available-for-sale, RMBS during the three and nine months ended September 30, 2016 after it was determined the Company would not be able to recover the full cost basis of these positions due to declines in the future projected cash flows of the securities. One CMBS position classified as a security available for sale with a face value of $4.0 million was identified as a position the Company would be required to sell before it could recover its cost basis in the security. As such, the Company recorded the difference between its amortized cost basis and the estimated fair value. Other-than-temporary impairment of $732,000 was recognized during the three and nine months ended September 30, 2016 , as a result of the anticipated sale of this security.ar 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 For the Nine Months Ended Positions Sold Par Amount Sold/Redeemed Realized Gain (Loss) Proceeds Positions Sold Par Amount Sold/Redeemed Realized Gain (Loss) Proceeds September 30, 2017 ABS 5 $ 18,301 $ (2,110 ) $ 12,647 7 $ 27,906 $ (325 ) $ 19,881 CMBS 1 5,000 (254 ) 4,046 1 5,000 (254 ) 4,046 RMBS 3 153,519 (158 ) 1,116 3 153,519 (158 ) 1,116 Total 9 $ 176,820 $ (2,522 ) $ 17,809 11 $ 186,425 $ (737 ) $ 25,043 Of the five ABS sales, the Company recorded a receivable for one of the sales in the amount of $959,000 , which was received in full in October 2017. This amount is included as part of other assets on the Company's consolidated balance sheets. There were no other sales or redemptions during the three and nine months ended September 30, 2017 .

INVESTMENTS IN UNCONSOLIDATED E

INVESTMENTS IN UNCONSOLIDATED ENTITIES	9 Months Ended
	Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS IN UNCONSOLIDATED ENTITIES	NOTE 9 - INVESTMENTS IN UNCONSOLIDATED ENTITIES The following table summarizes the Company's investments in unconsolidated entities at September 30, 2017 and December 31, 2016 and equity in (losses) earnings of unconsolidated entities for the three and nine months ended September 30, 2017 and 2016 (in thousands): Equity in (Losses) Earnings of Unconsolidated Entities Balance at For the For the nine months ended For the For the nine months ended Ownership % at September 30, 2017 September 30, December 31, September 30, September 30, September 30, September 30, RRE VIP Borrower, LLC (1) —% $ — $ — $ 6 $ 44 $ — $ 35 Investment in LCC Preferred Stock (2) —% — 42,960 41,048 41,334 415 2,759 Pearlmark Mezz (3) —% — 16,953 — 165 132 552 RCM Global, LLC 9.5% 32 465 (61 ) (231 ) (560 ) (160 ) Pelium Capital Partners, L.P. (4) 80.2% 12,336 25,993 54 (22 ) 1,045 2,765 Investment in School Lane House (5) —% — — — — — (1 ) Subtotal 12,368 86,371 41,047 41,290 1,032 5,950 Investment in RCT I and II (6) 3.0% 1,548 1,548 (689 ) (1,989 ) (636 ) (1,928 ) Total $ 13,916 $ 87,919 $ 40,358 $ 39,301 $ 396 $ 4,022 (1) The investment in RRE VIP Borrower was sold at December 31, 2014. Earnings for the three and nine months ended September 30, 2017 and September 30, 2016 are related to insurance premium refunds with respect to the underlying sold properties in the portfolio. (2) The Company's investment in LCC was sold in July 2017. The gain recognized on the sale is included in equity in earnings of unconsolidated entities on the Company's consolidated state of operations. (3) The Company had committed to invest up to $50.0 million in Pearlmark Mezz. The commitment termination date was set to end the earlier of when the original commitment was fully funded, or the fifth anniversary following the final closing date of June 24, 2015. The Company sold its investment in Pearlmark Mezz in May 2017. (4) For the nine months ended September 30, 2017 , the Company received proceeds of $13.6 million related to the partial liquidation of its investment. (5) Investment in School Lane House was sold as of December 31, 2014. (6) For the three and nine months ended September 30, 2017 and September 30, 2016 , these amounts are recorded in interest expense on the Company's consolidated statements of operations as the investment is accounted for under the cost method.

BORROWINGS

BORROWINGS	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
BORROWINGS	NOTE 10 - 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 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 At September 30, 2017: RCC 2015-CRE3 Senior Notes $ 129,263 $ 1,219 $ 128,044 3.72% 14.5 years $ 192,466 RCC 2015-CRE4 Senior Notes 90,883 1,079 89,804 3.41% 14.9 years 180,064 RCC 2017-CRE5 Senior Notes 251,449 3,768 247,681 2.26% 16.8 years 376,703 Unsecured Junior Subordinated Debentures 51,548 — 51,548 5.25% 19.1 years — 4.50% Convertible Senior Notes 143,750 17,377 126,373 4.50% 4.9 years — 6.00% Convertible Senior Notes 70,453 1,181 69,272 6.00% 1.2 years — 8.00% Convertible Senior Notes 21,182 523 20,659 8.00% 2.3 years — CRE - Term Repurchase Facilities (1) 241,424 1,433 239,991 2.70% 307 days 366,095 CMBS - Term Repurchase Facilities (2) 45,480 — 45,480 2.98% 214 days 63,060 Trust Certificates - Term Repurchase Facilities (3) 76,693 648 76,045 5.72% 2.3 years 214,375 CMBS - Short Term Repurchase Agreements (4) 77,197 — 77,197 2.70% 78 days 102,849 Total $ 1,199,322 $ 27,228 $ 1,172,094 3.76% 8.1 years $ 1,495,612 Principal Unamortized Issuance Costs and Discounts Outstanding Borrowings Weighted Average Weighted Average Value of At December 31, 2016: RCC 2014-CRE2 Senior Notes $ 131,936 $ 1,871 $ 130,065 2.19% 15.3 years $ 250,255 RCC 2015-CRE3 Senior Notes 196,112 2,358 193,754 2.82% 15.2 years 259,889 RCC 2015-CRE4 Senior Notes 158,475 2,193 156,282 2.55% 15.6 years 247,414 Unsecured Junior Subordinated Debentures 51,548 — 51,548 4.89% 19.8 years — 6.00% Convertible Senior Notes 115,000 3,231 111,769 6.00% 1.9 years — 8.00% Convertible Senior Notes 100,000 3,472 96,528 8.00% 3.0 years — CRE - Term Repurchase Facilities (1) 349,318 2,680 346,638 3.04% 1.6 years 520,503 CMBS - Term Repurchase Facilities (2) 78,503 16 78,487 2.73% 129 days 115,157 Trust Certificates - Term Repurchase Facility (3) 26,667 282 26,385 6.21% 1.9 years 89,181 Total $ 1,207,559 $ 16,103 $ 1,191,456 3.67% 8.0 years $ 1,482,399 (1) Principal amounts include accrued interest expense of $300,000 and $468,000 related to CRE term repurchase facilities at September 30, 2017 and December 31, 2016 , respectively. (2) Principal amounts include accrued interest expense of $35,000 and $157,000 related to CMBS term repurchase facilities at September 30, 2017 and December 31, 2016 , respectively. (3) Principal amounts include accrued interest expense of $182,000 and $69,000 related to trust certificates term repurchase facilities at September 30, 2017 and December 31, 2016 , respectively. (4) Principal amounts include accrued interest expense of $67,000 and $0 related to CMBS short term repurchase agreements at September 30, 2017 and December 31, 2016 , respectively. The Company is in compliance with all covenants in each of the respective agreements at September 30, 2017 . Securitizations The following table sets forth certain information with respect to the Company's consolidated securitizations at September 30, 2017 (in thousands): Securitization Closing Date Maturity Date End of Designated Principal Reinvestment Period (1) Total Note Paydowns received from Closing Date through September 30, 2017 RCC 2015-CRE3 February 2015 March 2032 February 2017 $ 152,864 RCC 2015-CRE4 August 2015 August 2032 August 2017 $ 132,852 RCC 2017-CRE5 July 2017 July 2034 July 2020 $ — (1) The designated principal reinvestment period is the period where principal payments received by each respective securitization may be utilized by the Company to purchase funding participations of existing collateral originally underwritten at the close of each securitization, which was funded outside of the deal structure. The investments held by the Company's securitizations collateralize the securitizations' borrowings and, as a result, are not available to the Company, its creditors, or stockholders. All senior notes held by the Company at September 30, 2017 are eliminated in consolidation. RCC 2014-CRE2 In August 2017, the Company initiated the liquidation of RCC 2014-CRE2, and all of the outstanding senior notes were paid off from the payoff proceeds of certain of the securitization's assets. RCC 2017-CRE5 In July 2017, the Company closed RCC 2017-CRE5, a $376.7 million CRE securitization transaction that provided financing for transitional commercial real estate loans. RCC 2017-CRE5 issued a total of $251.4 million of senior notes at par to unrelated investors. RCC Real Estate purchased 100% of the Class C notes for $49.9 million . In addition, Resource Real Estate Funding 2017-CRE5 Investor, LLC, a subsidiary of RCC Real Estate, purchased a $75.3 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 2017-CRE5, 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 2017-CRE5. At closing, the senior notes issued to investors by RCC 2017-CRE5 consisted of the following classes: (i) $203.4 million of Class A notes bearing interest at one-month LIBOR plus 0.80% ; (ii) $48.0 million of Class B notes bearing interest at one-month LIBOR plus 2.00% ; and (iii) $49.9 million of Class C notes bearing interest at one-month LIBOR plus 3.50% . All of the notes issued mature in July 2034, although the Company has the right to call the notes anytime after July 2019. There is no reinvestment period in RCC 2017-CRE5; however, principal repayments, for a period ending in July 2020, may be used to purchase funding participations with respect to existing collateral held outside of the securitization. The weighted average interest rate on the Class A and Class B notes was 2.26% at September 30, 2017. Corporate Debt 4.50% Convertible Senior Notes In August 2017, the Company issued $143.8 million aggregate principal of its 4.50% convertible senior notes due 2022 (the " 4.50% Convertible Senior Notes"). The gross proceeds were utilized to pay $3.9 million in debt issuance costs and to extinguish a portion of the Company's 6.00% convertible senior notes due 2018 (the " 6.00% Convertible Senior Notes") and 8.00% convertible senior notes due 2020 (the " 8.00% % Convertible Senior Notes"), resulting in the receipt of net proceeds of $13.5 million . In addition, the Company recorded a discount of $14.2 million (the offset of which was recorded in additional paid-in capital) on the 4.50% Convertible Senior Notes that reflects the difference between the proceeds received less the fair value of the notes as if they were issued without a conversion feature. The market discounts and the deferred debt issuance costs are amortized into interest expense in the consolidated statements of operations on an effective interest basis over the period ended on February 15, 2022. Interest on the 4.50% Convertible Senior Notes is paid semi-annually. The 4.50% Convertible Senior Notes are convertible at the option of the holder at a current conversion rate of 78.2473 common shares per $1,000 principal amount of 4.50% Convertible Senior Notes (equivalent to an initial conversion price of $12.78 per common share). Upon conversion of the 4.50% Convertible Senior Notes, a 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. 6.00% Convertible Senior Notes The Company extinguished $44.5 million aggregate principal of its 6.00% Convertible Senior Notes in conjunction with the issuance of the 4.50% Convertible Senior Notes. As a result of the extinguishment, approximately $381,000 of amortization of the remaining deferred debt issuance costs was accelerated and recorded in the loss on extinguishment of debt in the statement of operations during the three and nine months ended September 30, 2017 . At September 30, 2017 and December 31, 2016 , $70.5 million and $115.0 million aggregate principal of 6.00% Convertible Senior Notes were outstanding. 8.00% Convertible Senior Notes The Company extinguished $78.8 million aggregate principal of its 8.00% Convertible Senior Notes in conjunction with the issuance of the 4.50% Convertible Senior Notes. As a result of the extinguishment, approximately $836,000 of amortization of the remaining deferred debt issuance costs was accelerated and recorded in the loss on extinguishment of debt in the statement of operations during the three and nine months ended September 30, 2017 . At September 30, 2017 and December 31, 2016 , $21.2 million and $100.0 million aggregate principal of 8.00% Convertible Senior Notes were outstanding. Repurchase and Credit Facilities Borrowings under the Company's repurchase agreements are guaranteed by the Company or one of its subsidiaries. The following table sets forth certain information with respect to the Company's repurchase agreement borrowings (dollars in thousands): At September 30, 2017 At December 31, 2016 Outstanding (1) Value of Number of Weighted Average Outstanding (1) Value of Number of Weighted Average CMBS - Term Wells Fargo Bank $ 19,272 $ 24,361 12 2.46% $ 22,506 $ 28,514 13 1.96% Deutsche Bank (2) 26,208 38,699 18 3.37% 55,981 86,643 23 3.04% CRE - Term Wells Fargo Bank (3) 177,832 274,693 16 3.48% 215,283 313,126 16 2.86% Morgan Stanley Bank (4) 62,159 91,402 5 3.85% 131,355 207,377 11 3.34% Trust Certificates Term Repurchase Facilities RSO Repo SPE Trust 2015 (5) 26,502 89,121 2 6.73% 26,385 89,181 2 6.21% RSO Repo SPE Trust 2017 (6) 49,543 125,254 2 5.18% — — — —% Short-Term Repurchase RBC Capital Markets, LLC 71,311 94,682 4 2.70% — — — —% JP Morgan Securities, LLC 5,886 8,167 2 2.63% — — — —% Total $ 438,713 $ 746,379 $ 451,510 $ 724,841 (1) Outstanding Borrowings amount includes accrued interest payable. (2) The Deutsche Bank CMBS term repurchase facility includes $0 and $16,000 of deferred debt issuance costs at September 30, 2017 and December 31, 2016 , respectively. (3) The Wells Fargo Bank CRE term repurchase facility includes $822,000 and $1.6 million of deferred debt issuance costs at September 30, 2017 and December 31, 2016 , respectively. (4) The Morgan Stanley Bank CRE term repurchase facility includes $611,000 and $1.1 million of deferred debt issuance costs at September 30, 2017 and December 31, 2016 , respectively. (5) The RSO Repo SPE Trust 2015 term repurchase facility includes $170,000 and $282,000 of deferred debt issuance costs at September 30, 2017 and December 31, 2016 , respectively. (6) The RSO Repo SPE Trust 2017 term repurchase facility includes $350,000 and $0 of deferred debt issuance costs at September 30, 2017 and December 31, 2016 , respectively. The following table shows information about the amount at risk under the repurchase facilities (dollars in thousands): Amount at (1) Weighted Average Weighted Average At September 30, 2017: CMBS - Term Repurchase Facilities Wells Fargo Bank, National Association $ 5,130 182 days 2.46% Deutsche Bank AG $ 12,636 237 days 3.37% CRE - Term Repurchase Facilities Wells Fargo Bank, National Association $ 97,116 294 days 3.48% Morgan Stanley Bank, National Association $ 29,224 345 days 3.85% Trust Certificates Term Repurchase Facilities RSO Repo SPE Trust 2015 $ 62,515 1.1 years 6.73% RSO Repo SPE Trust 2017 $ 75,331 3.0 years 5.18% CMBS - Short-Term Repurchase Agreements JP Morgan Securities, LLC $ 2,295 15 days 2.63% RBC Capital Markets, LLC $ 23,520 83 days 2.70% (1) Equal to the total of the estimated fair value of securities or loans sold and accrued interest income, minus the total of repurchase agreement liabilities and accrued interest expense. Short-Term Repurchase Agreements - CMBS In August 2017, RCC Real Estate entered into a master repurchase and securities agreement with RBC Capital Markets, LLC (the "RBC Securities Agreement") to finance the purchase of CMBS. The Company had $71.3 million and $0 outstanding under the RBC Securities Agreement at September 30, 2017 and December 31, 2016 . Trust Certificates - Term Repurchase Facilities In September 2017, RCC Real Estate entered into a repurchase and securities agreement (the "Term Repurchase Trust Facility 2017") with RSO Repo SPE Trust 2017, a structure that provides financing under a structured sale of trust certificates to qualified institutional buyers through an offering led by Wells Fargo Securities, LLC. The Term Repurchase Trust Facility 2017 sold trust certificates of $49.9 million with an initial three year term that expires in September 2020, and an interest rate of one-month LIBOR plus an applicable spread of 3.95% . The Company has the ability to call the Term Repurchase Trust Facility 2017 at any time and in so doing would be subject to an early repurchase fee until the payment date in March 2019, after which it is freely prepayable. Contractual maturity dates of the Company's borrowings by category and year are presented in the table below (in thousands): Total 2017 2018 2019 2020 2021 and Thereafter CRE securitizations $ 465,529 $ — $ — $ — $ — $ 465,529 Repurchase and credit facilities 438,713 43,750 345,420 — 49,543 — Unsecured junior subordinated debentures 51,548 — — — — 51,548 4.50% Convertible Senior Notes 126,373 — — — — 126,373 6.00% Convertible Senior Notes 69,272 — 69,272 — — — 8.00% Convertible Senior Notes 20,659 — — — 20,659 — Total $ 1,172,094 $ 43,750 $ 414,692 $ — $ 70,202 $ 643,450

SHARE ISSUANCE AND REPURCHASE

SHARE ISSUANCE AND REPURCHASE	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
SHARE ISSUANCE AND REPURCHASE	NOTE 11 - SHARE ISSUANCE AND REPURCHASE On or after June 14, 2017 , the Company may, at its option, redeem its 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 its 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 its 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 share repurchase plan authorized by the board of directors on August 3, 2015, the Company was authorized to repurchase up to $50.0 million of its outstanding equity and debt securities. In March 2016, the Company's board of directors approved a new securities repurchase program for up to $50.0 million of its outstanding securities, which replaced the August 2015 repurchase plan. Since the inception of the program through December 31, 2016, the Company has repurchased $35.2 million of its common stock, representing approximately 2.8 million shares, or 8.3% of the outstanding balance and $3.1 million of its outstanding Series B preferred stock, representing approximately 196,000 shares, or 3.4% of the initial outstanding balance. During the nine months ended September 30, 2017 , the Company did not repurchase any shares of its common or preferred stock through this program. At September 30, 2017 , $44.9 million remains available in this repurchase plan. Under a dividend reinvestment plan authorized by the board of directors on March 21, 2013, the Company was authorized to issue up to 5,000,000 shares of common stock. During the three and nine months ended September 30, 2017 , the Company did not sell any shares of common stock through this program.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	NOTE 12 - SHARE-BASED COMPENSATION The following table summarizes the Company's restricted common stock transactions: Non-Employee Directors Non-Employees (1) Employees Total Unvested shares at January 1, 2017 27,320 301,486 71,244 400,050 Issued 37,492 321,789 12,019 371,300 Vested (25,948 ) (179,087 ) (37,163 ) (242,198 ) Forfeited (4,299 ) (20,902 ) (1,412 ) (26,613 ) Unvested shares at September 30, 2017 34,565 423,286 44,688 502,539 (1) Non-employees are employees of Resource America and C-III. 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 at grant date of the shares of restricted common stock granted to non-employees during the nine months ended September 30, 2017 was $2.7 million . The estimated fair value at grant date of the shares of restricted common stock granted to non-employees during the nine months ended September 30, 2016 was $2.3 million . The estimated fair value at grant date of shares of restricted common stock issued to the Company’s eight non-employee directors during the nine months ended September 30, 2017 was $325,000 . The estimated fair value at grant date of shares of restricted common stock issued to the Company’s eight non-employee directors during the nine months ended September 30, 2016 was $290,000 . At September 30, 2017 , the total unrecognized restricted common stock expense for non-employees was $2.2 million , with a weighted average amortization period remaining of 2.2 years . At December 31, 2016 , the total unrecognized restricted common stock expense for non-employees was $891,000 , with a weighted average amortization period remaining of 2.6 years . The following table summarizes restricted common stock grants during the nine months ended September 30, 2017 : Date Shares Vesting per Year Vesting Date(s) January 25, 2017 333,808 33.3% 1/25/18, 1/25/19, 1/25/20 February 1, 2017 4,242 100% 2/1/18 March 8, 2017 18,450 100% 3/8/18 March 13, 2017 4,299 100% 3/13/18 June 1, 2017 3,575 100% 6/1/18 June 6, 2017 3,680 100% 6/6/18 September 29, 2017 3,246 100% 9/29/18 The following table summarizes the status of the Company’s vested stock options at September 30, 2017 : Vested Options Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Vested at January 1, 2017 26,250 $ 46.60 Vested — — Exercised — — Forfeited — — Expired (16,250 ) 59.52 Vested at September 30, 2017 10,000 $ 25.60 3.63 $ — There were no options granted during the nine months ended September 30, 2017 or 2016 . The outstanding stock options have a contractual term of ten years and will expire in 2021. The components of equity compensation expense for the periods presented are as follows (in thousands): For the Three Months Ended For the Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Restricted shares granted to non-employees (1) $ 817 $ 1,639 $ 2,207 $ 3,352 Restricted shares granted to non-employee directors 78 64 210 192 Total equity compensation expense (2) $ 895 $ 1,703 $ 2,417 $ 3,544 (1) Non-employees are employees of Resource America and C-III. (2) Amounts do not include equity compensation expense for employees of our subsidiary PCM, which is included in net income (loss) for discontinued operations, net of tax. Under the Company's Management Agreement, incentive compensation is paid quarterly. Up to 75% of the incentive compensation is paid in cash and at least 25% is paid in the form of an award of common stock. During the three and nine months ended September 30, 2017 , the Manager earned approximately 51,300 shares as incentive compensation valued at $539,000 pursuant to the Management Agreement. The Manager received no incentive management fee for the three and nine months ended September 30, 2016 . All equity awards, apart from incentive compensation under the Management Agreement are discretionary in nature and subject to approval by the compensation committee of the Company's board of directors.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 13 - 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 For the Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Net income from continuing operations $ 24,745 $ (34,300 ) $ 46,487 $ (14,540 ) Net income allocated to preferred shares (6,014 ) (6,015 ) (18,043 ) (18,077 ) Carrying value in excess of consideration paid for preferred shares — — — 1,500 Net loss allocable to non-controlling interest, net of taxes — 63 196 213 Net income from continuing operations allocable to common shares 18,731 (40,252 ) 28,640 (30,904 ) Net loss from discontinued operations, net of tax (6,087 ) (11,321 ) (10,832 ) (12,532 ) Net income (loss) allocable to common shares $ 12,644 $ (51,573 ) $ 17,808 $ (43,436 ) Basic: Weighted average number of shares outstanding 30,857,232 30,528,368 30,810,259 30,513,131 Continuing operations $ 0.61 $ (1.32 ) $ 0.93 $ (1.01 ) Discontinued operations (0.20 ) (0.37 ) (0.35 ) (0.41 ) Basic net income (loss) per share $ 0.41 $ (1.69 ) $ 0.58 $ (1.42 ) Diluted: Weighted average number of shares outstanding 30,857,232 30,528,368 30,810,259 30,513,131 Additional shares due to assumed conversion of dilutive instruments 257,920 — 206,849 — Adjusted weighted-average number of common shares outstanding 31,115,152 30,528,368 31,017,108 30,513,131 Continuing operations $ 0.61 $ (1.32 ) $ 0.92 $ (1.01 ) Discontinued operations (0.20 ) (0.37 ) (0.35 ) (0.41 ) Diluted net income (loss) per share $ 0.41 $ (1.69 ) $ 0.57 $ (1.42 ) Potentially dilutive shares excluded from calculation due to anti-dilutive effect (1) 12,215,259 9,002,864 10,085,439 9,002,864 (1) Potentially dilutive shares issuable in connection with the potential conversion of the Company's 6.00% Convertible Senior Notes, 8.00% Convertible Senior Notes and 4.50% Convertible Senior Notes ( see Note 10 ) were not included in the calculation of diluted net income (loss) per share because the effect would be anti-dilutive.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME	NOTE 14 - ACCUMULATED OTHER COMPREHENSIVE INCOME The following table presents the changes in each component of accumulated other comprehensive income for the nine months ended September 30, 2017 (dollars in thousands): Net unrealized (loss) gain on derivatives Net unrealized (loss) gain on securities, Accumulated other comprehensive income (loss) Balance, January 1, 2017 $ (18 ) $ 3,099 $ 3,081 Other comprehensive income (loss) before reclassifications 211 (3,167 ) (2,956 ) Amounts reclassified from accumulated other 17 1,342 1,359 Balance, September 30, 2017 $ 210 $ 1,274 $ 1,484

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 15 - RELATED PARTY TRANSACTIONS Relationship with C-III and Certain of its Subsidiaries Relationship with C-III and Certain of their Subsidiaries. On September 8, 2016, Resource America was acquired by C-III, a leading CRE investment management and services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, zoning due diligence, investment sales and multifamily property management. As part of the transaction, C-III took over control of the Company's Manager and became the beneficial owner of 715,396 shares of the Company's common stock ( 2.3% of the Company's outstanding common shares) through its indirect ownership of the Company's Manager and Resource Capital Investor, Inc. C-III is indirectly controlled and partially owned by Island Capital Group ("Island Capital"), of which Andrew L. Farkas, Chairman of the Company, is the managing member. Mr. Farkas is also chairman and chief executive officer of C-III. In addition, Robert C. Lieber, the Company's Chief Executive Officer, is an executive managing director of both C-III and Island Capital. Matthew J. Stern, the Company's President, is a senior managing director of both C-III and Island Capital. Jeffrey P. Cohen, who is a member of the Company’s Board, is an executive managing director of C-III and president of Island Capital. These officers and the Company’s other executive officers are also officers of the Company’s Manager, Resource America, C-III or affiliates of those companies. The Company has entered into a management agreement under which the Company's Manager receives substantial fees. On May 22, 2016, the Company entered into a letter agreement with Resource America pursuant to which the Company irrevocably waived its right to terminate the management agreement as a result of a "Change of Control" (as defined in the management agreement) resulting from the acquisition of Resource America by C-III. Upon consummation of that acquisition, Resource America paid a $1.5 million fee to the Company for the waiver. For the three and nine months ended September 30, 2017 , the Manager earned base management fees of approximately $2.7 million and $8.0 million , respectively. For the three and nine months ended September 30, 2016 , the Manager earned base management fees of approximately $2.9 million and $9.8 million , respectively. For the three and nine months ended September 30, 2017 , the Manager earned incentive management fees of $2.2 million , of which 75% , or $1.6 million will be paid in cash and 25% , or approximately $539,000 will be paid in common stock. No incentive management fees were earned for the three and nine months ended September 30, 2016 . The Company reimburses the Manager for expenses and the costs of employees of Resource America who perform legal, accounting, due diligence and other services that outside professionals or consultants would otherwise perform. The management agreement, as amended, also provides that the Manager must furnish the Company with a director of investor relations. The Company bears the expense of the compensation and benefits of the Company's Chief Financial Officer, Chief Accounting Officer and several accounting and tax professionals and 50% of the salary and benefits of the investor relations officer. Until September 8, 2016, the Company also reimbursed Resource America for the compensation and benefits of the former Chairman. For the three and nine months ended September 30, 2017 , the Company reimbursed the Manager $1.2 million and $4.2 million for all such compensation and costs, respectively. For the three and nine months ended September 30, 2016 , the Company reimbursed the Manager $1.4 million and $4.0 million for all such compensation and costs, respectively. On November 7, 2013, the Company entered into an amendment to the management agreement to include the definition of an "Ancillary Operating Subsidiary," which means one or more subsidiaries, including a TRS and its subsidiaries, that are operating entities principally engaged in the evaluation, underwriting, origination, servicing, holding, trading and financing of loans, securities, investments and credit products other than CRE loans. An Ancillary Operating Subsidiary may, with the approval of a majority of the independent directors, directly incur and pay all of its own operating costs and expenses, including without limitation, compensation of employees of such Ancillary Operating Subsidiary and reimbursement of any compensation costs incurred by the Manager for personnel principally devoted to such Ancillary Operating Subsidiary. On November 24, 2010, the Company entered into an Investment Management Agreement with Resource Capital Markets, Inc. ("RCM"), which is an indirect wholly-owned subsidiary of C-III. The initial and amended agreements provided that: (a) RCM may invest up to $13.0 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. RCM can earn a management fee of 20% of the amount by which the net profits exceed the preferred return. During the three and nine months ended September 30, 2017 and 2016 , RCM earned no management fees. The Company also reimburses RCM for expenses paid on the Company's behalf. For the three and nine months ended September 30, 2017 , the Company paid RCM no expense reimbursements. For the three and nine months ended September 30, 2016 , the Company paid RCM $1,000 and $9,000 as expense reimbursements, respectively. At September 30, 2017 , the Company was indebted to the Manager for $3.1 million , comprised of base management fees of $908,000 , incentive management fees of $2.2 million and expense reimbursements of $47,000 . At December 31, 2016 , the Company was indebted to the Manager for $1.4 million , comprised of base management fees of $1.3 million and expense reimbursements of $35,000 . At September 30, 2017 and December 31, 2016 , the Company was also indebted to the Manager for an oversight fee of $63,000 and $138,000 , respectively, which was recorded in liabilities held for sale. The Company's base management fee payable and expense reimbursements payable are recorded in management fee - related party and accounts payable and other liabilities on the consolidated balance sheets, respectively. At September 30, 2017 , RCM was indebted to the Company under the Company’s Investment Management Agreement for $17,000 , which was comprised of a vendor refund offset by expense reimbursements. At December 31, 2016 , the Company was indebted to RCM under the Company’s Investment Management Agreement for $216,000 , comprised entirely of expense reimbursements. 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 a person who subsequently became an employee of Resource America for $830,000 , paid in the form of 34,165 shares of restricted Company common stock. The restricted stock vested in full on November 7, 2016, and included dividend equivalent rights. Elevation Home Loans, LLC was liquidated in 2016. At September 30, 2017 , the Company retained equity in six securitizations, which were structured for the Company by the Manager, although three of the securitizations were substantially liquidated as of September 30, 2017 . 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 entities and their assets. Relationship with LEAF Commercial Capital. Leaf Commercial Capital ("LCC"), a former subsidiary of Resource America in which the Company owned a noncontrolling interest, originated and managed equipment leases and notes on behalf of the Company. On November 16, 2011, the Company, together with LEAF Financial and LCC, entered into a securities purchase agreement with Eos Partners, L.P., a private investment firm, and its affiliates ( see Note 3 ). The Company’s resulting interest in LCC was accounted for under the equity method and recorded in equity in earnings of unconsolidated entities on the consolidated statements of operations. For the three and nine months ended September 30, 2017 , the Company recorded income of $41.0 million and $41.3 million , respectively, in respect of the Company's equity interests in LCC. For the three and nine months ended September 30, 2016 , the Company recorded income of $415,000 and $2.8 million , respectively, in respect of the Company's equity interests in LCC. On July 31, 2017, the Company sold it's investment in LCC and received cash proceeds of $84.3 million . The Company had no investment in LCC at September 30, 2017 and a total investment of $43.0 million at December 31, 2016. 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 C-III owned a 24% interest through August 10, 2017. CVC Credit Partners manages internally and externally originated syndicated corporate loans on the Company’s behalf. On February 24, 2011, one of the Company's subsidiaries 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 Resource Capital Asset Management ("RCAM"). Through RCAM, the Company was 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 and nine months ended September 30, 2017 , CVC Credit Partners earned subordinated and incentive fees totaling $53,000 and $1.4 million , respectively. For the three and nine months ended September 30, 2016 , CVC Credit Partners earned subordinated and incentive fees totaling $254,000 and $561,000 , respectively. In October 2012, the Company purchased 66.6% of the preferred equity in one of the RCAM-managed CLOs. In May 2013, the Company purchased additional equity in this CLO, increasing its ownership percentage to 68.3% . The CLOs were liquidated in February 2013, January 2016, September 2016 and February 2017, respectively. The unamortized balance of the intangible asset was $0 and $213,000 at September 30, 2017 and December 31, 2016 , respectively. During the nine months ended September 30, 2017 and 2016 , the Company recorded impairment of $177,000 and $3.7 million on the related intangible asset of these CLOs. At September 30, 2017 , the Company had no remaining investment in RCAM. C-III sold its interest in CVC Credit Partners in August 2017, and, as a result, CVC Credit Partners is no longer considered a related party of the Company. Relationship with Long Term Care Conversion Funding. The Company also reimburses Resource America for additional costs incurred related to the Company's life care business, Long Term Care Conversion Funding, established for the purpose of investing in life settlement contracts. The initial agreement, authorized in December 2012, provided for an annual reimbursement of $550,000 , with a two -year term. In March 2015, the agreement was amended to extend the term for an additional two years terminating in December 2016. The agreement was amended again in December 2016 to extend the term for one additional year through December 2017 for a reduced annual reimbursement of $250,000 . This fee is paid quarterly. Relationship with Resource Real Estate. Resource Real Estate, an indirect wholly-owned subsidiary of C-III, originates, finances and manages the Company’s CRE loan portfolio. The Company reimburses Resource Real Estate for loan origination costs associated with all loans originated. The Company also reimburses Resource Real Estate 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 compensation and benefits of several Resource America personnel dedicated to the Company's operations. At September 30, 2017 and December 31, 2016 , the Company was indebted to Resource Real Estate for $703,000 and $899,000 for expense reimbursements and Resource Real Estate was indebted to the Company for $0 and $50,000 for loan deposits, respectively. 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. Resource Real Estate Management, LLC was the 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. There were no fees incurred for the three and nine months ended September 30, 2017 and 2016 , as the last property associated with the joint venture was sold in July 2014. For the three and nine months ended September 30, 2017 , the Company recorded income of $6,000 and $44,000 , respectively, which was recorded in equity in earnings of unconsolidated entities on the consolidated statements of operations. For the three and nine months ended September 30, 2016 , the Company recorded income of $0 and $35,000 , respectively, which was recorded in equity in earnings of unconsolidated entities on the consolidated statements of operations. The income recorded in 2017 and 2016 was related to insurance premium refunds and the liquidation of bank accounts with respect to the underlying sold properties of the portfolio. The Company has executed the following five real estate securitization transactions, which provide financing for CRE loans: (i) RCC CRE Notes 2013, a $307.8 million securitization that closed in December 2013; (ii) RCC 2014-CRE2, a $353.9 million securitization that closed in July 2014; (iii) RCC 2015-CRE3, a $346.2 million securitization that closed in February 2015; (iv) RCC 2015-CRE4, a $312.9 million securitization that closed in August 2015 and (v) RCC 2017-CRE5, a $376.7 million securitization that closed in July 2017. Resource Real Estate serves as special servicer for each securitization. With respect to each specially serviced mortgage loan, Resource Real Estate receives an amount equal to the product of (a) the special servicing fee rate, 0.25% per annum multiplied by (b) the outstanding principal balance of such specially serviced mortgage loan. The servicing fee is payable monthly, on an asset-by-asset basis. C-III Asset Management LLC serves as the servicer for RCC 2017-CRE5 and receives an amount equal to the product of (a) the servicing fee rate, 0.05% per annum multiplied by (b) the outstanding principal balance of each mortgage loan. The servicing fee is payable monthly, on an asset-by-asset basis. During the three and nine month ended September 30, 2017 , C-III Asset Management LLC earned approximately $40,000 . The Company was indebted to C-III Asset Management LLC for approximately $13,000 at September 30, 2017 . The Company utilizes the brokerage services of Resource Securities, Inc. ("Resource Securities"), an indirect wholly-owned broker-dealer subsidiary of C-III, on a limited basis to sell some of the securities of our securitizations. The Company paid Resource Securities placement agent fees in connection with each transaction as follows: $205,000 , $175,000 , $100,000 , and $85,000 , respectively. No placement agency fees were paid to Resource Securities in connection with the RCC 2017-CRE5 transaction. In December 2016, RCC CRE Notes 2013 was liquidated, and, as a result, the remaining assets were returned to RCC Real Estate in exchange for the Company's preference shares and equity notes in the securitization. In August 2017, all third-party notes relating to RCC 2014-CRE2 were paid off and the remaining $93.0 million loan balance was transferred to RCC Real Estate as part of the securitization's liquidation in exchange for the Company's preference shares and equity notes in the securitization. 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. The portion of RCM Global that the Company did not own was presented as non-controlling interest at December 31, 2015 and for the years ended December 31, 2015 and 2014 in the Company's consolidated financial statements. All intercompany accounts and transactions were eliminated in consolidation. In March and June 2015, the Company requested and received an in-kind distribution of certain securities held by RCM Global resulting in a reduction in its ownership interest. The distribution of and subsequent sale of those securities by the Company through its subsidiary, RCC Residential, resulted in the realization of $5.0 million of net gain for the year ended December 31, 2015. During the nine months ended September 30, 2017 , RCC Residential received net cash distributions in the amount of $145,000 . At September 30, 2017 , the Company's ownership interest in RCM Global was 9.5% , and the remainder was owned by subsidiaries of Resource America and certain of its employees and their spouses. On January 1, 2016, the Company adopted new consolidation guidance on variable interest entities and, as a result, the Company deconsolidated RCM Global and now accounts for this investment as an investment in unconsolidated entity on the consolidated balance sheets. For the three and nine months ended September 30, 2017 , the Company recorded losses of $61,000 and $231,000 which was recorded in equity in (losses) earnings of unconsolidated subsidiaries on the consolidated statements of operations, respectively. For the three and nine months ended September 30, 2016 , the Company recorded losses of $560,000 and $160,000 which was recorded in equity in (losses) earnings of unconsolidated subsidiaries on the consolidated statements of operations, respectively. 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 an indirect wholly-owned subsidiary of C-III. The Company funded its final commitment of $2.5 million as of February 2015. The Company received 10% of the carried interest in the partnership. Resource America contributed securities valued at $2.8 million upon the formation of Pelium Capital. For the three and nine months ended September 30, 2017 , the Company recorded earnings of $54,000 and losses of $22,000 which was recorded in equity in (losses) earnings of unconsolidated entities on the consolidated statements of operations, respectively. For the three and nine months ended September 30, 2016 , the Company recorded earnings of $1.0 million and $2.8 million which was recorded in equity in (losses) earnings of unconsolidated entities on the consolidated statements of operations, respectively. During 2017, the Company received proceeds of $13.6 million related to the partial liquidation of its investment. The Company's investment balance in Pelium Capital was $12.3 million and $26.0 million at September 30, 2017 and December 31, 2016 , respectively. The Company held an 80.2% interest in Pelium Capital at September 30, 2017 . On June 2015, the Company committed to invest up to $50.0 million in Pearlmark Mezz, a Delaware limited partnership. The investment advisor of Pearlmark Mezz is Pearlmark Real Estate LLC ("Pearlmark Manager"), which is 50% owned by Resource America. The Company pays Pearlmark Manager management fees of 1.0% on the unfunded committed capital and 1.5% on the invested capital. The Company was entitled to a management fee rebate of 25% for the first year of the fund, which ended on June 24, 2016. Resource America had agreed that it will credit any such fees paid by the Company to Pearlmark Manager against the base management fee that the Company pays to the Manager. In May 2017, the Company sold its equity interest in Pearlmark Mezz for proceeds of $16.2 million and recognized a net loss of $345,000 , which was recorded in equity in (losses) earnings of unconsolidated entities on the consolidated statements of operations.

DISTRIBUTIONS

DISTRIBUTIONS	9 Months Ended
	Sep. 30, 2017
DISTRIBUTIONS [Abstract]
DISTRIBUTIONS	NOTE 16 - DISTRIBUTIONS For the quarter ended September 30, 2017 , the Company declared and subsequently paid a dividend of $0.05 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 funds to make sufficient distribution payments. The Company’s 2017 dividends are determined by the Company’s board of directors, which 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 present dividends declared (on a per share basis) for the first, second and third quarters of 2017 and each of the quarters in 2016: Common Stock Date Paid Total Dividend (in thousands) 2017 March 31 April 27 $ 1,568 $ 0.05 June 30 July 28 $ 1,567 $ 0.05 September 30 October 27 $ 1,566 $ 0.05 2016 March 31 April 28 $ 13,073 $ 0.42 June 30 July 28 $ 13,051 $ 0.42 September 30 October 28 $ 13,012 $ 0.42 December 31 January 27, 2017 $ 1,550 $ 0.05 Preferred Stock Series A Series B Series C Date Paid Total Dividend Date Paid Total Dividend Date Paid Total Dividend (in thousands) (in thousands) (in thousands) 2017 March 31 May 1 $ 568 $ 0.531250 May 1 $ 2,859 $ 0.515625 May 1 $ 2,588 $ 0.539063 June 30 July 31 $ 568 $ 0.531250 July 31 $ 2,859 $ 0.515625 July 31 $ 2,588 $ 0.539063 September 30 October 30 $ 568 $ 0.531250 October 30 $ 2,859 $ 0.515625 October 30 $ 2,588 $ 0.539063 2016 March 31 May 2 $ 568 $ 0.531250 May 2 $ 2,859 $ 0.515625 May 2 $ 2,588 $ 0.539063 June 30 August 1 $ 568 $ 0.531250 August 1 $ 2,859 $ 0.515625 August 1 $ 2,588 $ 0.539063 September 30 October 31 $ 568 $ 0.531250 October 31 $ 2,859 $ 0.515625 October 31 $ 2,588 $ 0.539063 December 31 January 30, 2017 $ 568 $ 0.531250 January 30, 2017 $ 2,859 $ 0.515625 January 30, 2017 $ 2,588 $ 0.539063

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 17 - FAIR VALUE OF FINANCIAL INSTRUMENTS The following table presents the Company’s financial instruments at fair value on a recurring basis based upon the fair value hierarchy (in thousands): Level 1 Level 2 Level 3 Total At September 30, 2017: Assets: Investment securities, trading $ — $ — $ 162 $ 162 Investment securities available-for-sale — — 189,173 189,173 Loans held for sale — 1 37 38 Derivatives — 235 — 235 Total assets at fair value $ — $ 236 $ 189,372 $ 189,608 Liabilities: Derivatives $ — $ 229 $ — $ 229 Total liabilities at fair value $ — $ 229 $ — $ 229 At December 31, 2016: Assets: Investment securities, trading $ — $ 369 $ 4,123 $ 4,492 Investment securities available-for-sale — — 124,968 124,968 Loans held for sale — 787 220 1,007 Derivatives — 647 — 647 Total assets at fair value $ — $ 1,803 $ 129,311 $ 131,114 Liabilities: Derivatives $ — $ 97 $ — $ 97 Total liabilities at fair value $ — $ 97 $ — $ 97 In accordance with guidance on fair value measurements and disclosures, 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 for investment securities, trading, investment securities available for sale and loans held for sale from third-party pricing sources. The following table presents additional information about the Company's assets that are measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs (in thousands): CMBS ABS Structured Loans Held for Sale RMBS Total Balance, January 1, 2017 $ 98,087 $ 25,280 $ 4,123 $ 220 $ 1,601 $ 129,311 Included in earnings — 1,665 154 58 (158 ) 1,719 Purchases 121,757 — — — — 121,757 Sales (4,025 ) (19,767 ) — — (1,111 ) (24,903 ) Paydowns (30,748 ) (2,773 ) (4,115 ) (241 ) (256 ) (38,133 ) Capitalized interest — 1,263 — — — 1,263 Included in OCI 769 (2,335 ) — — (76 ) (1,642 ) Balance, September 30, 2017 $ 185,840 $ 3,333 $ 162 $ 37 $ — $ 189,372 The Company's Pearlmark Mezz indemnification liability, recognized in earnings during the nine months ended September 30, 2017 , had a fair value of $703,000 at September 30, 2017 . The fair value, determined on a non-recurring basis, was valued by a third-party valuation service. 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, interest receivable, principal paydowns receivable, accrued interest expense and distributions payable approximate their carrying value on the consolidated balance sheets. The fair values of the Company’s investment securities, trading are reported in Note 7 . The fair values of the Company’s investment securities available-for-sale are reported in Note 8 . The fair values of the Company's loans held for sale are reported in Note 5 . The fair values of the Company’s derivative instruments are reported in Note 18 . 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. Fair values of loans with variable interest rates are expected to approximate fair value. Senior notes in CRE securitizations are valued using dealer quotes, typically the dealer who underwrote the CRE securitization in which the notes are held. Junior subordinated notes are estimated by discounted cash flows with discount rates of 11.34% and 11.34% and used in the evaluation of RCT I and RCT II, respectively. The fair value of the convertible notes is determined using a discounted cash flow model that discounts the expected future cash flows using current interest rates on similar debts that do not have a conversion option. The 6.00% Convertible Senior Notes are discounted at a rate of 7.92% , the 8.00% Convertible Senior Notes are discounted at a rate of 9.65% and the 4.50% Convertible Senior Notes are discounted at a rate of 7.17% . Repurchase agreements are variable rate debt instruments indexed to LIBOR that reset periodically and, as a result, their carrying value approximates their 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) At September 30, 2017: Loans held for investment $ 1,264,264 $ 1,270,375 $ — $ — $ 1,270,375 Senior notes in CRE securitizations $ 465,529 $ 470,715 $ — $ — $ 470,715 Junior subordinated notes $ 51,548 $ 26,442 $ — $ — $ 26,442 Convertible senior notes $ 216,304 $ 235,385 $ — $ — $ 235,385 Repurchase agreements $ 438,713 $ 440,081 $ — $ — $ 440,081 Indemnification agreement $ 703 $ 703 $ — $ — $ 703 At December 31, 2016: Loans held for investment $ 1,286,278 $ 1,292,099 $ — $ — $ 1,292,099 Senior notes in CRE securitizations $ 480,101 $ 486,524 $ — $ — $ 486,524 Junior subordinated notes $ 51,548 $ 27,246 $ — $ — $ 27,246 Convertible senior notes $ 208,297 $ 215,000 $ — $ — $ 215,000 Repurchase agreements $ 451,510 $ 453,794 $ — $ — $ 453,794

MARKET RISK AND DERIVATIVE INST

MARKET RISK AND DERIVATIVE INSTRUMENTS	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
MARKET RISK AND DERIVATIVE INSTRUMENTS	NOTE 18 - MARKET RISK AND DERIVATIVE INSTRUMENTS The Company is 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: interest rate swaps and forward contracts. 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 a quantity of a currency (foreign currency hedging) at a predetermined future date, at a predetermined rate or price and are used to manage currency risk with respect to the Company's long positions in foreign currency-denominated investment securities. 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. 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. The Company seeks to mitigate 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 September 30, 2017 , the Company had six interest rate swap contracts outstanding whereby the Company paid a weighted average fixed rate of 2.06% and received a variable rate equal to one-month LIBOR. The aggregate notional amount of these contracts was $34.3 million at September 30, 2017 . The counterparty for the Company’s designated interest rate hedge contracts at September 30, 2017 was Wells Fargo. At December 31, 2016 , the Company had no interest rate swap contracts outstanding. The estimated fair value of the Company’s asset related to interest rate swaps was $211,000 at September 30, 2017 . The Company had aggregate unrealized gains of $211,000 on the interest rate swap agreements at September 30, 2017 , which is recorded in accumulated other comprehensive income (loss) on the consolidated balance sheets. The Company had aggregate unrealized losses on an interest rate swap agreement that was canceled, at the Company's request in April 2016, of $18,000 at December 31, 2016 , which is recorded in accumulated other comprehensive income (loss) on the consolidated balance sheets. The aggregate unrealized loss is amortized through earnings over the remaining life of the canceled agreement. The amortization is reported in interest expense in the Company’s consolidated statements of operations. The Company incurred interest expense of $0 and $18,000 during the three and nine months ended September 30, 2017 , respectively, to fully amortize the remaining accumulated other comprehensive income (loss). The Company had master netting agreements with Credit Suisse International and Wells Fargo at September 30, 2017 . 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 satisfy potential future obligations. At September 30, 2017 , the Company had centrally cleared interest rate swap contracts with a fair value in an asset position of $211,000 . At December 31, 2016 , there were no centrally cleared interest rate swap contracts. The Company classifies its interest rate risk hedges as cash flow hedges, which are hedges that eliminate the risk of changes in the cash flows of a financial asset or liability. The Company records changes in fair value of derivatives designated and effective as cash flow hedges in accumulated other comprehensive income (loss), and records changes in fair value of derivatives designated and ineffective as cash flow hedges in earnings. The Company is also exposed to foreign currency exchange rate risk, a form of risk that arises from the change in price of one currency against another. However, substantially all of the Company's revenues are transacted in U.S. dollars. 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 foreign currency forward contracts. The Company classifies these hedges as fair value hedges, which are hedges that mitigate 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 hedged 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 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 operations for the periods presented: Fair Value of Derivative Instruments at September 30, 2017 (in thousands) Asset Derivatives Notional Amount Consolidated Balance Sheet Location Fair Value Interest rate swap contracts, hedging (1) $ 34,250 Derivatives, at fair value $ 211 Forward contracts - foreign currency, hedging (2) (3) $ 3,869 Derivatives, at fair value $ 24 Liability Derivatives Notional Amount Consolidated Balance Sheet Location Fair Value Forward contracts - foreign currency, hedging (2) (3) $ 13,143 Derivatives, at fair value $ 229 Interest rate swap contracts, hedging $ 34,250 Accumulated other comprehensive (income) loss $ (210 ) (1) Interest rate swap contracts are accounted for as cash flow hedges. (2) Foreign currency forward contracts are accounted for as fair value hedges. (3) Notional amount presented is translated to US Dollars. The base currency notional amount of the Company's foreign currency hedging forward contracts in an asset position was €3.3 million at September 30, 2017 . The base currency notional amount of the Company's foreign currency hedging forward contracts in a liability position was €11.1 million at September 30, 2017 . Fair Value of Derivative Instruments at December 31, 2016 (in thousands) Asset Derivatives Notional Amount Consolidated Balance Sheet Location Fair Value Forward contracts - foreign currency, hedging (1) (2) $ 12,489 Derivatives, at fair value $ 647 Liability Derivatives Notional Amount Consolidated Balance Sheet Location Fair Value Forward contracts - foreign currency, hedging (1) (2) $ 11,700 Derivatives, at fair value $ 97 Interest rate swap contracts, hedging $ — Accumulated other comprehensive (income) loss $ (18 ) (1) Foreign currency forward contracts are accounted for as fair value hedges. (2) Notional amount presented on currency converted basis. The base currency notional amount of the Company's foreign currency hedging forward contracts in an asset position was €11.9 million at December 31, 2016 . The base currency notional amount of the Company's foreign currency hedging forward contracts in a liability position was €11.1 million at December 31, 2016 . The Effect of Derivative Instruments on the Consolidated Statements of Operations for the Nine Months Ended September 30, 2017 (in thousands) Derivatives Consolidated Statements of Operations Location Realized and Unrealized Gain (Loss) (1) Interest rate swap contracts, hedging Interest expense $ (53 ) Forward contracts - foreign currency, hedging Net realized and unrealized (loss) gain on investment securities available-for-sale and loans and derivatives $ (1,998 ) (1) Negative values indicate a decrease to the associated consolidated statements of operations line items. The Effect of Derivative Instruments on the Consolidated Statements of Operations for the Nine Months Ended September 30, 2016 (in thousands) Derivatives Consolidated Statements of Operations Location Realized and Unrealized Gain (Loss) (1) Interest rate swap contracts, hedging Interest expense $ (95 ) Forward contracts - foreign currency, hedging Net realized and unrealized (loss) gain on investment securities available-for-sale and loans and derivatives $ (733 ) (1) Negative values indicate a decrease to the associated consolidated statements of operations line items.

OFFSETTING OF FINANCIAL ASSETS

OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES	9 Months Ended
	Sep. 30, 2017
Offsetting [Abstract]
OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES	NOTE 19 - OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES The following table presents a summary of the Company's offsetting of derivative assets (in thousands): (iv) (i) (ii) (iii) = (i) - (ii) Financial Cash (v) = (iii) - (iv) At September 30, 2017: Derivative hedging instruments, at fair value (1) $ 235 $ — $ 235 $ — $ — $ 235 Total $ 235 $ — $ 235 $ — $ — $ 235 At December 31, 2016: Derivative hedging instruments, at fair value $ 647 $ — $ 647 $ — $ — $ 647 Total $ 647 $ — $ 647 $ — $ — $ 647 (1) The Company posted cash margin of $1.7 million related to interest rate swap contracts entered into as of September 30, 2017 . The following table presents a summary of the Company's offsetting of financial liabilities and derivative liabilities (in thousands): (iv) (i) (ii) (iii) = (i) - (ii) Financial (1) Cash (v) = (iii) - (iv) At September 30, 2017: Derivative hedging instruments, $ 229 $ — $ 229 $ — $ — $ 229 Repurchase agreements and term facilities (2) 438,713 — 438,713 438,713 — — Total $ 438,942 $ — $ 438,942 $ 438,713 $ — $ 229 At December 31, 2016: Derivative hedging instruments, $ 97 $ — $ 97 $ — $ — $ 97 Repurchase agreements and term facilities (2) 451,510 — 451,510 451,510 — — Total $ 451,607 $ — $ 451,607 $ 451,510 $ — $ 97 (1) Amounts represent collateral pledged that is available to be offset against liability balances associated with term facilities, repurchase agreements and derivative transactions. (2) The combined fair value of securities and loans pledged against the Company's various term facilities and repurchase agreements was $746.4 million and $724.8 million at September 30, 2017 and December 31, 2016 , respectively. All balances associated with repurchase agreements and derivatives are presented on a gross basis on the Company's consolidated balance sheets. Certain of the Company's repurchase agreements 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	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 20 - COMMITMENTS AND CONTINGENCIES The Company may become involved in litigation on various matters due to the nature of the Company's business activities, which it considers 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. In addition, the Company may enter into settlements on certain matters in order to avoid the additional costs of engaging in litigation. For the three and nine months ended September 30, 2017 , the Company recorded $1.5 million as a general litigation reserve. In September 2015, Daren Levin filed a putative class action in the United States District Court for the Southern District of New York on behalf of all persons who purchased the Company's common stock between March 2, 2015 and August 4, 2015 (the "Levin Complaint"). In November 2015, the Court appointed Douglas Drees as the lead plaintiff in the action, and ordered the lead plaintiff to file an amended complaint. In February 2016, the lead plaintiff filed an amended complaint, alleging that the Company and certain of its officers and directors materially misrepresented certain risks of its commercial loan portfolio and processes and controls for assessing the quality of its portfolio. Based on these allegations, the amended complaint asserted claims for violation of the securities laws and seeks a variety of relief, including unspecified monetary damages as well as costs and attorneys’ fees. On June 1, 2017, a second amended complaint was filed that added a new class of Series B and Series C preferred shareholders, but was otherwise substantially similar to the amended complaint. The parties are currently engaged in discovery and the plaintiff has filed a motion for class certification, which the Company has opposed. The Company believes the plaintiff's claims are without merit and intends to defend itself vigorously. Six separate shareholder derivative suits (the "New York State Actions") purporting to assert claims on behalf of the Company were filed in the Supreme Court of New York on the following dates: December 2015 (the "Reaves Complaint"), February 2017 (the "Caito Complaint"), March 2017 (the "Simpson Complaint"), March 2017 (the "Heckel Complaint"), May 2017 (the "Schwartz Complaint") and August 2017 (the "Greff Complaint"). Plaintiffs in the Schwartz and Greff actions made demands on the board of directors before filing suit, but plaintiffs in the Reaves, Caito, Simpson, and Heckel actions did not. All of the shareholder derivative suits are substantially similar and allege that certain of the Company's current and former officers and directors breached their fiduciary duties, wasted corporate assets, and/or were unjustly enriched. Certain complaints assert additional claims against the Manager and Resource America for unjust enrichment based on allegations that the Manager received excessive management fees from the Company. In June 2017, the Court ordered the consolidation of the Reaves, Caito, Simpson and Heckel Complaints (collectively, the "New York State Demand Futile Actions") and stayed the New York State Demand Futile Actions in favor of the federal shareholder derivative litigation described below. The Company’s time to respond to the Schwartz and Greff complaints is presently stayed by stipulation of the parties. The Company believes that the plaintiffs in each of the New York State Actions lack standing to assert claims derivatively on the Company's behalf and intends to seek the dismissal of any New York State Action as to which the stay is lifted. Four separate shareholder derivative suits purporting to assert claims on behalf of the Company were filed in the United States District Court for the Southern District of New York on the following dates by shareholders who declined to make a demand on the board prior to filing suit: January 2017 (the "Greenberg Complaint"), January 2017 (the "Canoles Complaint"), January 2017 (the "DeCaro Complaint") and April 2017, (the "Gehan Complaint"). In May 2017, the Court consolidated the Greenberg, Canoles, DeCaro and Gehan Complaints as the "Federal Demand Futile Actions," and in July 2017, appointed lead counsel and directed that a consolidated complaint be filed. Following consolidation, the Canoles and Gehan plaintiffs voluntarily dismissed their suits. The consolidated complaint in the Federal Demand Futile Actions, filed on August 21, 2017, alleges claims for breach of fiduciary duty, corporate waste, unjust enrichment, and violations of Section 14(a) of the Securities Exchange Act. The Company believes that the plaintiffs in the Federal Demand Futile Actions lack standing to assert claims derivatively on its behalf and moved to dismiss the consolidated complaint on that basis on October 20, 2017. Three additional shareholder derivative suits purporting to assert claims on behalf of the Company were filed in the United States District Court for the Southern District of New York on the following dates by shareholders who served demands on the board to bring litigation and allege that their demands were wrongfully refused: February 2017 (the "McKinney Complaint"), March 2017 (the "Sherek/Speigel Complaint") and April 2017 (the "Sebenoler Complaint"). In May 2017, the Court consolidated the McKinney, Sherek and Sebenoler Complaints as the "Federal Demand Refused Actions." A consolidated complaint was filed on June 30, 2017, alleging claims for breach of fiduciary duty, unjust enrichment, and violations of Section 14(a) of the Securities Exchange Act. The Company believes the plaintiffs’ claims that their demands to bring litigation were wrongfully refused are without merit and that the plaintiffs lack standing to assert claims derivatively on the Company’s behalf. The Company moved to dismiss the consolidated complaint in the Federal Demand Refused Actions on that basis on September 15, 2017. In August 2017, Robert Canoles filed a shareholder derivative suit in Maryland Circuit Court against certain of the Company’s current and former officers and directors, as well as the Manager and Resource America (the "Canoles Complaint"). Mr. Canoles had previously filed his suit in the United States District Court for the Southern District of New York, but voluntarily dismissed that action after the Court declined to appoint his counsel as lead counsel in the Federal Demand Futile Actions. The Canoles complaint, as amended in October 2017, asserts a variety of claims, including claims for breach of fiduciary duty, unjust enrichment, and corporate waste, that are based on allegations substantially similar to those at issue in the Federal Demand Futile Actions. The Company believes that Canoles lacks standing to assert claims derivatively on its behalf and intends to seek the dismissal of the Canoles action on that basis unless it is first stayed in favor of the duplicative Federal Demand Futile Actions. In September 2017, Michael Hafkey filed a shareholder derivative suit in the United States District Court for the District of Maryland against certain of the Company’s former officers and directors and the Manager (the "Hafkey Complaint"). The complaint asserts a breach of fiduciary duty claim that is substantially similar to the claims at issue in the Federal Demand Refused Actions. Mr. Hafkey previously made a demand on the board of directors to investigate this claim, which was ultimately denied. The Company believes that Hafkey’s claim that his demand to bring litigation was wrongfully refused is without merit and that Hafkey consequently lacks standing to assert claims derivatively on the Company’s behalf. The Company expects to file a motion to dismiss the Hafkey action on that basis unless it is first stayed in favor of, or transferred and consolidated with, the duplicative Federal Demand Futile Actions. A subsidiary of the Company is the subject of a lawsuit brought in 2014 by the purchaser of a hotel from such subsidiary. The complaint asserts breach of contract claims for non-payment of certain fees and expenses. The Company believes the complaint is without merit and intends to defend itself vigorously. PCM is a party to various claims and legal proceedings at various times. If PCM believes that a loss arising from any of these matters is probable and can be reasonably estimated, the loss is recorded. Currently, the only litigation involving PCM is related to claims for repurchases or indemnifications on loans that PCM has sold to investors. Such claims are included in the reserve for mortgage repurchases and indemnifications. The reserve for mortgage repurchases and indemnifications was $4.7 million and $4.8 million at September 30, 2017 and December 31, 2016, respectively. Loans on one-to-four family residential mortgages originated by PCM are sold to various financial institutions and governmental entities with representations and warranties that are usual and customary for the industry. In the event of a breach of any of the representations and warranties related to a loan sold, PCM may be required to indemnify the investor against future losses, repurchase the mortgage loan or reimburse the investor for actual losses incurred (referred to as "make whole payments"). The maximum exposure to credit loss in the event of an indemnification or loan repurchase would be the unpaid principal balance of the loan along with any premium paid by the investor when the loan was purchased, accrued but unpaid interest and other minor cost reimbursements. This maximum exposure is at least partially mitigated by the value of the collateral underlying the mortgage loan. At September 30, 2017 , outstanding demands for indemnification, repurchase or make whole payments totaled approximately $11.7 million . The most significant remaining demands against PCM are from Lehman Brothers Holding, Inc. ("LBHI"), which filed suit against PCM and approximately 150 sellers on February 3, 2016 alleging breaches of representations and warranties made on loans sold to LBHI. The repurchase claims asserted by LBHI relate to loans sold to LBHI that were subsequently sold by LBHI to either FNMA or FHLMC. PCM has established a reserve for these asserted claims at September 30, 2017 . PCM sold additional loans to LBHI that were subsequently securitized and sold as RMBS by LBHI. Claims have been asserted by the RMBS investors against LBHI, but no amounts have been paid by LBHI, and no claims have been asserted by LBHI against PCM. No reserve has been established by PCM at September 30, 2017 for potential future claims related to loans sold to and securitized by LBHI. PCM intends to defend the actions vigorously. Unfunded commitments on the Company’s originated CRE loans generally fall into two categories: (1) pre-approved capital improvement projects; and (2) new or additional construction costs subject, in each case, to the borrower meeting specified criteria. Upon completion of the improvements or construction, the Company would receive additional interest income on the advanced amount. In May 2017, the Company received proceeds of $16.2 million from the sale of its equity interest in Pearlmark Mezz, an unconsolidated entity. As part of the sale of Pearlmark Mezz, the Company entered into an indemnification agreement whereby the Company indemnified the purchaser against realized losses of up to $4.3 million on the Kingsway mezzanine loan until the final maturity date in 2020. A reserve of $703,000 for probable losses was recorded during the three and nine months ended September 30, 2017. Except as previously discussed, the Company is unaware of any contingencies arising from such routine litigation that would require accrual or disclosure in the consolidated financial statements at September 30, 2017 .

DISCONTINUED OPERATIONS AND ASS

DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE	9 Months Ended
	Sep. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE	NOTE 21 - DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE In November 2016, the Company received approval from its board of directors to execute a strategic plan to focus its strategy on CRE debt investments. The Plan contemplates disposing of certain Legacy CRE loans and exiting underperforming non-core asset classes. Non-real estate businesses identified for sale were the residential mortgage and middle market lending segments as well as the Company's life settlement policy portfolio, or LCF. The Company reclassified the operating results of the residential mortgage and middle market lending segments as discontinued operations and excluded from continuing operations for all periods presented. In addition, the Company transferred the assets and liabilities of LCF and non-performing Legacy CRE loans to held for sale in the fourth quarter of 2016. In June 2017, the Company sold its residential mortgage lending pipeline and certain other assets and liabilities, including trademarks, domain names, intellectual property and certain fixed assets. Additional consideration may be earned subject to a contractual earn out provision based on future loan production, which will be payable over an eighteen to twenty-two month period. The sale generated cash proceeds of $2.6 million , which included a nonrefundable earn out advance of $650,000 . During the three months ended September 30, 2017 , an additional nonrefundable earn out advance of $350,000 was recognized. The collective book value of the assets sold was $1.6 million . The Company retained residential mortgage loans held for sale, mortgage servicing rights and cash balances. The following table summarizes the operating results of the residential mortgage and middle market lending segments discontinued operations as reported separately as income (loss) from discontinued operations, net of tax for the three and nine months ended September 30, 2017 and 2016 (in thousands): For the Three Months Ended For the Nine Months Ended September 30, September 30, 2017 2016 2017 2016 REVENUES Interest income: Loans $ 892 $ 4,236 $ 2,682 $ 24,727 Interest income - other 44 27 76 43 Total interest income 936 4,263 2,758 24,770 Interest expense — 467 — 6,181 Net interest income 936 3,796 2,758 18,589 Gain on sale of residential mortgage loans (1,186 ) 6,029 5,688 15,542 Fee income (loss) (197 ) 989 3,480 (944 ) Total revenues (447 ) 10,814 11,926 33,187 OPERATING EXPENSES Equity compensation expense - related party 65 63 286 900 General and administrative 5,590 8,834 21,985 22,392 Depreciation and amortization — 142 — 418 Provision for loan and lease losses, net — 121 — 12,180 Total operating expenses 5,655 9,160 22,271 35,890 (6,102 ) 1,654 (10,345 ) (2,703 ) OTHER INCOME (EXPENSE) Net realized gain (loss) on investment securities available-for-sale and loans 97 (9,631 ) 13 (9,829 ) Fair value adjustments on financial assets held for sale (82 ) — (500 ) — Total other income (expense) 15 (9,631 ) (487 ) (9,829 ) LOSS FROM DISCONTINUED OPERATIONS BEFORE TAXES (6,087 ) (7,977 ) (10,832 ) (12,532 ) Income tax benefit — (3,344 ) — — NET LOSS FROM DISCONTINUED OPERATIONS $ (6,087 ) $ (11,321 ) $ (10,832 ) $ (12,532 ) The assets and liabilities of business segments classified as discontinued operations and other assets and liabilities classified as held for sale are reported separately in the accompanying consolidated financial statements and are summarized as follows at September 30, 2017 and December 31, 2016 (in thousands): September 30, December 31, ASSETS Restricted cash $ 139 $ 145 Interest receivable 80 305 Loans held for sale, at fair value 110,669 346,761 Property available for sale — 125 Derivatives, at fair value — 3,773 Intangible assets (1) 18,149 14,466 Other assets (2) 9,156 17,880 Total assets held for sale $ 138,193 $ 383,455 LIABILITIES Accounts payable and other liabilities $ 9,293 $ 8,404 Management fee payable - related party 56 132 Accrued interest expense 22 203 Borrowings (3) — 133,139 Derivatives, at fair value — 685 Total liabilities held for sale $ 9,371 $ 142,563 (1) Includes mortgage services rights ("MSRs") with a fair value of $18.1 million and $14.4 million at September 30, 2017 and December 31, 2016 , respectively. MSRs are recorded at fair value using a discounted cash flow approach to estimate the fair value utilizing the valuation services of an independent third party. The key assumptions used in the estimation of fair value include prepayment speeds, discount rates, default rates, cost to service, contractual servicing fees and escrow earnings. (2) Includes the Company's investment in life settlement contracts of $6.4 million and $5.8 million at September 30, 2017 and December 31, 2016 , respectively, which were transferred to held for sale in the fourth quarter of 2016. (3) Borrowings at December 31, 2016 are entirely related to PCM. There were no borrowings at September 30, 2017 . The following table summarizes the loans held for sale in the residential mortgage and middle market lending segments as well as the non-performing Legacy CRE loans transferred to held for sale in the fourth quarter of 2016. The loans held for sale are carried at the lower of cost or fair value (in thousands, except quantities): Quantity Amortized Cost Fair Value At September 30, 2017: Legacy CRE whole loans 5 $ 78,459 $ 78,459 Mezzanine loans (2) 1 — — Middle market loans (3) 5 41,199 29,177 Residential mortgage loans (5)(6) 27 3,033 3,033 Total loans 38 $ 122,691 $ 110,669 At December 31, 2016: Legacy CRE whole loans (1) 8 $ 158,192 $ 158,178 Mezzanine loans (2) 1 — — Middle market loans (3)(4) 7 52,382 40,443 Residential mortgage loans (5)(6)(7) 529 148,140 148,140 Total loans 545 $ 358,714 $ 346,761 (1) Third party appraisals were obtained on six of the Legacy CRE whole loans and, as a result, specific provisions of $8.1 million were recorded prior to the loans being reclassified to held for sale status. Additional provisions in the amount of $7.7 million were recognized after the transfer of loans to held for sale to write down the loans to the lower of cost or fair value during the Company's fourth quarter ended December 31, 2016 . (2) Includes a mezzanine loan with a par value of $38.1 million that was acquired at a fair value of zero as a result of the liquidation of RREF CDO 2006-1 in April 2016 and RREF 2007-1 in November 2016. The mezzanine loan is comprised of two tranches, with maturity dates of November 2018 and September 2021. (3) Includes a directly originated middle market loan with fair values of $1.8 million and $1.9 million at September 30, 2017 and December 31, 2016 , respectively. In May 2017 the loan experienced payment default. The loan's fair market value was supported by a third party valuation mark prepared as of September 30, 2017 . (4) At December 31, 2016, the Company's middle market loans are in several industry categories including: healthcare, education and childcare - 24.4% , diversified/conglomerate service - 17.2% , insurance - 17.1% , cargo transport - 14.2% , beverage, food and tobacco - 12.5% , buildings and real estate - 9.8% and hotels, motels, inns and gaming - 4.8% , based on amortized cost. (5) The fair value option was elected for residential mortgage loans, held for sale. (6) The Company's residential mortgage loan portfolio is comprised of both agency loans and non-agency jumbo loans. The fair values of the agency loan portfolio are generally classified as Level 2 in the fair value hierarchy, as those values are determined based on quoted market prices for similar assets or upon other observable inputs. The fair values of the 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. (7) At December 31, 2016, approximately 39.2% of the Company's residential mortgage loans were originated in Georgia, 16.2% in California, 14.6% in Utah, 5.9% in Virginia and 5.9% in Florida, based on amortized cost. Debt Facilities Associated with Discontinued Operations Residential Investments – Term Repurchase Facility In June 2014, the Company's wholly-owned subsidiaries, RCC Resi Portfolio, RCC Resi TRS, and RCC Resi Depositor (the "Sellers") entered into a master repurchase and securities contract (the "2014 Facility") with Wells Fargo Bank. Over the course of five amendments to modify the terms, the most recent of which was entered into in September 2015, the maximum borrowing amount was reduced from the original $285.0 million to $30.0 million . In July 2016, the Company elected to terminate the 2014 Facility. Residential Mortgage Financing Agreements In February 2011, PCM entered into a master repurchase agreement (the "New Century Facility") with New Century Bank d/b/a Customer's Bank ("New Century") to finance the acquisition of residential mortgage loans. Over the course of ten amendments to modify the terms, the most recent of which was executed in August 2016, the maximum borrowing amount declined to $0 . In December 2016, the Company elected to terminate the New Century Facility. In July 2014, PCM entered into a master repurchase agreement (the "Wells Fargo Facility") with Wells Fargo to finance the acquisition of residential mortgage loans. The Wells Fargo Facility was executed with an original maximum amount of $100.0 million , an interest rate of one-month LIBOR plus applicable margins of 3.00% for jumbo loans outstanding over 90 days, 2.50% for other jumbo loans and 2.38% for agency loans and a maturity date in July 2015. Over the course of nine amendments, the most recent of which was executed in October 2016, the maximum amount was modified to $150.0 million and the maturity date was modified to November 2017. The Wells Fargo Facility contains certain financial covenants and certain customary events of default and remedies for default. PCM paid off the remaining outstanding balance as of August 30, 2017 and terminated the facility at that time. In November 2016, PCM entered into a repurchase agreement (the "First Tennessee Facility") with First Tennessee Bank to finance the origination and acquisition of residential mortgage loans. The First Tennessee Facility was executed with a maximum amount of $25.0 million , an interest rate of one-month LIBOR plus a 2.75% margin. The First Tennessee Facility contains certain financial covenants and certain customary events of default and remedies for default. PCM paid off the remaining outstanding balance as of August 30, 2017 and terminated the facility at that time.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 22 - 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.

SUMMARY OF SIGNIFICANT ACCOUN32

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2017
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") and the accounting policies set forth in Note 2 included in the Company's annual report on Form 10-K for the year ended December 31, 2016 . The consolidated financial statements include the accounts of the Company, majority owned or controlled subsidiaries and VIEs for which the Company is considered the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation.
Basis of Presentation	Basis of Presentation All adjustments necessary to present fairly the Company’s financial position, results of operations and cash flows have been made.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand and all highly liquid investments with original maturities of three months or less at the time of purchase. At September 30, 2017 and December 31, 2016 , approximately $278.4 million and $111.6 million , respectively, of the reported cash balances exceeded the Federal Deposit Insurance Corporation deposit insurance limit of $250,000 per institution. However, all of the Company's cash deposits are held at multiple, established financial institutions to minimize credit risk exposure.
Allowance for Loan Losses	Allowance for Loan Losses During the three months ended September 30, 2017, the Company refined its process for the computation of its general reserve for loan losses to more fully align with the results of its risk ratings process. This change in estimate did not yield an estimate for the Company's general reserve that was materially different than estimates as determined under the Company's previous method for estimating the general reserve. Loans that are held for investment are carried at cost, net of unamortized acquisition premiums or discounts, loan fees, and origination costs as applicable, unless the loans are deemed impaired. The Company evaluates each loan classified as held-for-investment for impairment at least quarterly. In connection with this evaluation, the Company assesses the performance of each loan and assigns a risk rating based on the collective evaluation of several factors, including but not limited to: collateral performance relative to underwritten plan, time since origination, current implied and/or reunderwritten loan-to-collateral value ratios ("LTV"), risk inherent in the loan structure, and the loan's exit plan. Loans are rated "1" through "5," from less risk to greater risk, in connection with this review. Loan with a risk rating of 5 are individually measured for impairment on a quarterly basis. The general reserve, established for loans not determined to be impaired individually, is based on the Company's loan risk ratings. The Company records a general reserve equal to 1.5% of the aggregate carrying amount of loans with a risk rating of "3," plus 5.0% of the aggregate carrying amount of loans with a risk rating of "4."
Discontinued Operations	Discontinued Operations The results of operations of a component or a group of components of the Company that either has been disposed of or is classified as held for sale is reported in discontinued operations if the disposal represents a strategic shift that has or will have a major effect on the Company’s operations and financial results.
Income Taxes	Income Taxes The Company established a full valuation allowance against its net deferred tax asset of approximately $17.0 million (tax effected $4.5 million ) at September 30, 2017 as the Company believed it was more likely than not that some or all of the deferred tax assets would not be realized. This assessment was based on the Company’s cumulative historical losses and uncertainties as to the amount of taxable income that would be generated in future years.
Recent Accounting Standards	Recent Accounting Standards Accounting Standards Adopted in 2017 In October 2016, the Financial Accounting Standard Board, or "FASB" issued guidance to amend how a reporting entity that is the single decision maker of a VIE should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. The guidance requires that if, under the first characteristic of a primary beneficiary, the reporting entity determines that it is the single decision maker of a VIE, then the reporting entity is required to include all of its direct variable interests in a VIE and, on a proportionate basis, its indirect variable interests in a VIE held through related parties, including related parties that are under common control with the reporting entity, in determining whether it satisfies the second characteristic of a primary beneficiary, the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. If the reporting entity does not satisfy the second characteristic of a primary beneficiary after performing the assessment, the reporting entity is required to evaluate whether it and one or more of its related parties under common control, as a group, have the characteristics of a primary beneficiary. If the characteristics of a primary beneficiary are met as a group, then the party within the related party group that is most closely associated with the VIE is the primary beneficiary. The guidance became effective for annual reporting periods beginning after December 15, 2016, and interim periods within that reporting period. Adoption did not have a material impact on the Company's consolidated financial statements. In March 2016, the FASB issued guidance intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements. The new guidance allows for entities to make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. In addition, the guidance allows employers to withhold shares to satisfy minimum statutory tax withholding requirements up to the employees’ maximum individual tax rate without causing the award to be classified as a liability. The guidance also stipulates that cash paid by an employer to a taxing authority when directly withholding shares for tax-withholding purposes should be classified as a financing activity on the statement of cash flows. This guidance became effective for annual reporting periods beginning after December 15, 2016, and interim periods within that reporting period. Adoption did not have a material impact on the Company's consolidated financial statements. Accounting Standards to be Adopted in Future Periods In July 2017, the FASB issued guidance to improve the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities. Additionally, the guidance simplifies the application of the hedge accounting guidance via certain targeted improvements. The guidance is effective for annual reporting periods beginning after December 15, 2018, and interim periods within that reporting period. Early adoption is permitted. The Company is in the process of evaluating the impact of this guidance. In May 2017, the FASB issued guidance to clarify which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Modification accounting should be applied unless all of the following three criteria are met: (i) the fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified; (ii) the vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified; (iii) the classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The guidance is effective for annual reporting periods beginning after December 15, 2017, and interim periods within that reporting period. Early adoption is permitted. The Company is in the process of evaluating the impact of this guidance. In January 2017, the FASB issued guidance to add the SEC Staff Announcement "Disclosure of the Impact that Recently Issued Accounting Standards will have on the Financial Statements of a Registrant when such Standards are Adopted in a Future Period (in accordance with Staff Accounting Bulletin Topic 11.M)." The announcement applies to the May 2014 guidance on revenue recognition from contracts with customers, the February 2016 guidance on leases and the June 2016 guidance on how credit losses for most financial assets and certain other instruments that are measured at fair value through net income are determined. The announcement provides the SEC staff view that a registrant should evaluate certain recent accounting standards that have not yet been adopted to determine appropriate financial statement disclosures about the potential material effects of those recent accounting standards. If a registrant does not know or cannot reasonably estimate the impact that adoption of the recent accounting standards referenced in this announcement is expected to have on the financial statements, then the registrant should make a statement to that effect and consider the additional qualitative financial statement disclosures to assist the reader in assessing the significance of the impact that the recent accounting standards will have on the financial statements of the registrant when adopted. The Company has not completed its assessment under the new guidance on revenue recognition from contracts with customers, however, it expects to identify similar performance obligations as currently identified; therefore, the Company does not expect a material impact upon the application of this guidance. The Company is currently evaluating the impact of this guidance on leases and the measurement of credit losses on financial instruments and its impact on its consolidated financial statements. In January 2017, the FASB issued guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions, or disposals, of assets or businesses. The guidance provides a screen to determine when an integrated set of assets and activities (a "set") is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired, or disposed of, is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. If the screen is not met, the guidance requires that: (i) to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create an output and (ii) remove the evaluation of whether a market participant could replace missing elements. The guidance also narrows the definition of an output to: the result of inputs and processes applied to those inputs that provide goods or services to customers, investment income (such as dividends or interest), or other revenues. The guidance is effective for annual reporting periods beginning after December 15, 2017, and interim periods within that reporting period. Early adoption is permitted only for certain transactions. The Company is in the process of evaluating the impact of this guidance. In November 2016, the FASB issued guidance to reduce the diversity in practice of the classification and presentation of changes in restricted cash on the statement of cash flows. The guidance requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. The guidance is effective for annual reporting periods beginning after December 15, 2017, and interim periods within that reporting period. Early adoption is permitted. The Company is in the process of evaluating the impact of this guidance. In August 2016, the FASB issued guidance to reduce the diversity in practice around the presentation and classification of certain cash receipts and cash payments in the statement of cash flows. The guidance addresses the following eight specific cash flow issues: (i) debt prepayments or extinguishment costs; (ii) contingent consideration payments made after a business combination; (iii) proceeds from the settlement of insurance claims; (iv) proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies); (v) settlement of zero-coupon debt instruments or other debt instruments with insignificant coupon rates; (vi) distributions received from equity method investees; (vii) beneficial interests in securitization transactions and (viii) separately identifiable cash flows and application of the predominance principle. The guidance is effective for annual reporting periods beginning after December 15, 2017, and interim periods within that reporting period. Early adoption is permitted. The Company is in the process of evaluating the impact of this guidance. In June 2016, the FASB issued guidance which will change how credit losses for most financial assets and certain other instruments that are measured at fair value through net income are determined. The new guidance will replace the current incurred loss approach with an expected loss model for instruments measured at amortized cost. For available-for-sale debt securities, the guidance requires recording allowances rather than reducing the carrying amount, as it is currently under the other-than-temporary impairment model. It also simplifies the accounting model for credit-impaired debt securities and loans. This guidance is effective for annual reporting periods beginning after December 15, 2019, and interim periods within that reporting period. Early adoption is permitted for annual periods beginning after December 15, 2018, and interim periods within that reporting period, with any adjustments reflected as of the beginning of the fiscal year of adoption. The Company is in the process of evaluating the impact of this guidance. In February 2016, the FASB issued guidance requiring lessees to recognize a lease liability and a right-of-use asset for all leases. Lessor accounting will remain largely unchanged. The guidance will also require new qualitative and quantitative disclosures to help financial statement users better understand the timing, amount and uncertainty of cash flows arising from leases. This guidance will be effective for reporting periods beginning on or after December 15, 2018, with early adoption permitted. The Company is in the process of evaluating the impact of this guidance. In January 2016, the FASB issued guidance to address certain aspects of the recognition, measurement, presentation and disclosure of financial instruments in order to provide users of financial statements with more decision-useful information. The guidance requires equity investments to be measured at fair value with changes in fair value recognized in net income; simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment; eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; requires separate presentation of financial assets and financial liabilities by measurement category and form of financial assets on the balance sheet or the accompanying notes to the financial statements, and clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. It is effective for annual reporting periods, and the interim periods within those periods, beginning after December 15, 2017 and early adoption is permitted for certain provisions. The Company is in the process of evaluating the impact of this guidance. In May 2014, the FASB issued guidance that establishes key principles by which an entity determines the amount and timing of revenue recognized from customer contracts. At issuance, the guidance was effective for the first interim or annual period beginning after December 15, 2016. In August 2015, the FASB issued additional guidance that delayed the previous effective date by one year, resulting in the original guidance becoming effective for the first interim or annual period beginning after December 15, 2017. Early application, which was not permissible under the initial effectiveness timeline, is now permissible though no earlier than as of the first interim or annual period beginning after December 15, 2016. In 2016, the FASB issued multiple amendments to the accounting standard to provide further clarification. The Company has not completed its assessment under the new guidance, however, we do not expect that their adoption will have a material impact on our consolidated financial statements, as financial instruments are explicitly scoped out of the standards and nearly all of our income is generated from financial instruments.
Reclassifications	Reclassifications Certain reclassifications have been made to the 2016 consolidated financial statements to conform to the 2017 presentation, including the impact of discontinued operations and assets and liabilities held for sale.
Allowance for Loan Losses Computation	CRE whole loans are evaluated for any credit deterioration by debt asset management and certain finance personnel on at least a quarterly basis. Loans are first individually evaluated for impairment; and to the extent not deemed impaired, a general reserve is established. The allowance for loan loss is computed as (i) 1.5% of the aggregate carrying amount of loans rated as a 3, plus (ii) 5% of the aggregate carrying amount of loans rated as a 4, plus (iii) specific allowances measured and determined on loans individually evaluated, which are loans rated 5. While the overall risk rating is generally not the sole factor used in determining whether a loan is impaired, a loan with a higher overall risk rating would tend to have more adverse indicators of impairment, and therefore would be more likely to experience a credit loss.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable interest entity	The following table shows the classification, carrying value and maximum exposure to loss with respect to the Company’s unconsolidated VIEs at September 30, 2017 (in thousands): Unconsolidated Variable Interest Entities Unsecured Junior Subordinated Debentures RCM Global LLC Pelium Capital Total Maximum Exposure to Loss Investments in unconsolidated entities $ 1,548 $ 32 $ 12,336 $ 13,916 $ 13,916 Total assets 1,548 32 12,336 13,916 Borrowings 51,548 — — 51,548 N/A Total liabilities 51,548 — — 51,548 N/A Net asset (liability) $ (50,000 ) $ 32 $ 12,336 $ (37,632 ) N/A The following table shows the classification and carrying value of assets and liabilities of the Company's consolidated VIEs at September 30, 2017 (in thousands): CRE Securitizations Other Total ASSETS Restricted cash $ 12,302 $ 557 $ 12,859 Loans, pledged as collateral 733,746 — 733,746 Loans held for sale — 38 38 Interest receivable 3,126 — 3,126 Other assets 9 — 9 Total assets (1) $ 749,183 $ 595 $ 749,778 LIABILITIES Borrowings $ 465,531 $ — $ 465,531 Accrued interest expense 566 — 566 Accounts payable and other liabilities 45 — 45 Total liabilities $ 466,142 $ — $ 466,142 (1) Assets of each of the consolidated VIEs may only be used to settle the obligations of each respective VIE.

SUPPLEMENTAL CASH FLOW INFORM34

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2017
Supplemental Cash Flow Elements [Abstract]
Schedule of other significant noncash transactions	The following table summarizes the Company's supplemental disclosure of cash flow information (in thousands): For the Nine Months Ended September 30, 2017 2016 Non-cash discontinued operating activities include the following: Interest expense paid by third party (1) $ — $ (107 ) Operating liabilities assumed by third party (1) $ — $ (192 ) Non-cash continuing investing activities include the following: Retained beneficial interest in unconsolidated securitization entities $ — $ (22,476 ) Loans acquired through collateralized debt obligation liquidation $ — $ (44,893 ) Securities acquired through collateralized debt obligation liquidation $ — $ (20,837 ) Non-cash continuing financing activities include the following: Proceeds from the private exchange of convertible senior notes $ 22,161 $ — Payments on the private exchange of convertible senior notes $ (22,161 ) $ — Distributions on common stock accrued but not paid $ 1,566 $ 13,012 Distribution on preferred stock accrued but not paid $ 4,010 $ 4,010 Non-cash discontinued financing activities include the following: Senior secured revolving credit facility assumed by third party (1) $ — $ (122,000 ) Senior secured revolving credit facility paid down by third party (1) $ — $ (22,000 ) (1) In August 2016, the Company completed the sale of Northport TRS, LLC. The Purchaser assumed $122.0 million and paid down $22.0 million of principal and $107,000 of interest expense on the Company’s behalf of the senior secured revolving credit agreement. The Purchaser assumed $192,000 of accounts payable and accrued legal fees recorded to complete the sale.

LOANS (Tables)

LOANS (Tables)	9 Months Ended
	Sep. 30, 2017
LOANS HELD FOR INVESTMENT [Abstract]
Summary of loans held for Investments	The following is a summary of the Company’s loans (dollars in thousands): Loan Description Quantity Principal Unamortized (Discount) (1) Amortized Cost Allowance for Loan Losses Carrying (2) Contracted Interest Rates (3) Maturity Dates (4) At September 30, 2017: CRE whole loans, floating rate (5) 65 $ 1,274,453 $ (6,112 ) $ 1,268,341 $ (4,077 ) $ 1,264,264 LIBOR plus 3.75% to LIBOR plus 6.25% February 2017 to October 2020 Total CRE loans held for investment 1,274,453 (6,112 ) 1,268,341 (4,077 ) 1,264,264 Syndicated corporate loans (6) 2 38 — 38 — 38 n/a n/a Total loans held for sale 38 — 38 — 38 Total loans $ 1,274,491 $ (6,112 ) $ 1,268,379 $ (4,077 ) $ 1,264,302 At December 31, 2016: CRE whole loans, floating rate (5) 67 $ 1,295,926 $ (5,819 ) $ 1,290,107 $ (3,829 ) $ 1,286,278 LIBOR plus 3.75% to LIBOR plus 6.45% April 2017 to January 2020 Total CRE loans held for investment 1,295,926 (5,819 ) 1,290,107 (3,829 ) 1,286,278 Syndicated corporate loans (6) 3 1,007 — 1,007 — 1,007 n/a n/a Total loans held for sale 1,007 — 1,007 — 1,007 Total loans $ 1,296,933 $ (5,819 ) $ 1,291,114 $ (3,829 ) $ 1,287,285 (1) Amounts include unamortized loan origination fees of $5.8 million and $5.8 million and deferred amendment fees of $310,000 and $4,000 being amortized over the life of the loans at September 30, 2017 and December 31, 2016 , respectively. (2) Substantially all loans are pledged as collateral under various borrowings at September 30, 2017 and December 31, 2016 . (3) LIBOR refers to London Interbank Offered Rate. (4) Maturity dates do not include possible extension options that may be available to the borrowers. (5) CRE whole loans had $65.1 million and $55.5 million in unfunded loan commitments at September 30, 2017 and December 31, 2016 , 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. (6) All syndicated corporate loans are second lien loans.
Summary of the weighted average life of the commercial real estate loans at amortized cost	The following is a summary of the contractual maturities, assuming full exercise of the extension options available to the borrower, of the Company’s CRE loans held for investment, at amortized cost (in thousands): Description 2017 2018 2019 and Thereafter Total At September 30, 2017: CRE whole loans $ 58,986 $ 9,188 $ 1,200,167 $ 1,268,341 Total $ 58,986 $ 9,188 $ 1,200,167 $ 1,268,341 At December 31, 2016: 2017 2018 2019 and Thereafter Total CRE whole loans $ 7,000 $ 24,476 $ 1,258,631 $ 1,290,107 Total $ 7,000 $ 24,476 $ 1,258,631 $ 1,290,107

FINANCING RECEIVABLES (Tables)

FINANCING RECEIVABLES (Tables)	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
Allowance for loan losses and recorded investments in loans	The following tables show the allowance for loan and lease losses and recorded investments in loans and leases for the periods indicated (in thousands): Nine Months Ended September 30, 2017 Year Ended December 31, 2016 Commercial Real Estate Loans Syndicated Corporate Loans Direct Financing Leases Total Commercial Real Estate Loans Syndicated Corporate Loans Direct Financing Leases Total Allowance for loan and lease losses: Allowance for loan and lease losses at beginning of period $ 3,829 $ — $ 465 $ 4,294 $ 41,839 $ 1,282 $ 465 $ 43,586 Provision for (recovery of) loan and lease losses 248 — 270 518 18,167 (402 ) — 17,765 Loans charged-off — — — — — 402 — 402 Transfer to loans held for sale — — — — (15,763 ) — — (15,763 ) Deconsolidation of VIEs — — — — (40,414 ) (1,282 ) — (41,696 ) Allowance for loan and lease losses at end of period $ 4,077 $ — $ 735 $ 4,812 $ 3,829 $ — $ 465 $ 4,294 Allowance for loan and lease losses ending balance: Individually evaluated for impairment $ 2,500 $ — $ 735 $ 3,235 $ 2,500 $ — $ 465 $ 2,965 Collectively evaluated for impairment $ 1,577 $ — $ — $ 1,577 $ 1,329 $ — $ — $ 1,329 Loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — $ — $ — Loans and Leases: Amortized cost ending balance: Individually evaluated for impairment $ 7,000 $ — $ 902 $ 7,902 $ 7,000 $ — $ 992 $ 7,992 Collectively evaluated for impairment $ 1,261,341 $ — $ — $ 1,261,341 $ 1,283,107 $ — $ — $ 1,283,107 Loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — $ — $ —
Credit quality indicators for bank loans and commercial real estate loans	Credit risk profiles of CRE whole loans at amortized cost are as follows (in thousands): Rating 1 Rating 2 Rating 3 Rating 4 Rating 5 Held for Sale Total At September 30, 2017: CRE whole loans (1)(3) $ 64,976 $ 1,102,594 $ 88,938 $ 4,833 $ 7,000 $ — $ 1,268,341 Legacy CRE whole loans (1)(2) — — — — — 78,459 78,459 $ 64,976 $ 1,102,594 $ 88,938 $ 4,833 $ 7,000 $ 78,459 $ 1,346,800 At December 31, 2016: CRE whole loans (1) $ 1,186,292 $ 96,815 $ — $ 7,000 $ — $ — $ 1,290,107 Legacy CRE whole loans (1) — — — — — 158,178 158,178 $ 1,186,292 $ 96,815 $ — $ 7,000 $ — $ 158,178 $ 1,448,285 (1) Pursuant to the Company's strategic plan described in Note 1 , certain Legacy CRE whole loans were moved to loans held for sale and included in assets held for sale carried at the lower of cost or fair value on the Company's consolidated balance sheets at September 30, 2017 and December 31, 2016 , respectively ( see Note 21 ). (2) Includes one loan with a maturity date of May 2017 that is currently in default. (3) Includes one loan with a maturity date of November 2017 that entered into technical default in November 2017. The criteria set forth below should be used as general guidelines, and, therefore, not every loan will have all of the characteristics described in each category below. Loans that are performing according to their underwritten plans generally will not require an allowance for loan loss. Risk Rating Risk Characteristics 1 • Property performance has surpassed underwritten expectations. • Occupancy is stabilized, the property has had a history of consistently high occupancy, and the property has a diverse and high quality tenant mix. 2 • Property performance is consistent with underwritten expectations and covenants and performance criteria are being met or exceeded. • Occupancy is stabilized, near stabilized or is on track with underwriting. 3 • Property performance lags behind underwritten expectations. • Occupancy is not stabilized and the property has some rollover. 4 • Property performance significantly lags behind underwritten expectations. Performance criteria and loan covenants have required occasional waivers. • Occupancy is not stabilized and the property has a large amount of rollover. 5 • Property performance is significantly worse than underwritten expectations. The loan is not in compliance with loan covenants and performance criteria and is in default. Sale proceeds would not be sufficient to pay off the loan at maturity. • The property has material vacancy and significant rollover of remaining tenants. • An updated appraisal is required.
Loan portfolios aging analysis	The following table presents the loan and lease 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 At September 30, 2017: CRE whole loans (1) $ — $ — $ 7,000 $ 7,000 $ 1,261,341 $ 1,268,341 $ — Legacy CRE loans (2) — — 11,000 11,000 67,459 78,459 — Syndicated corporate loans — — — — — — — Direct Financing Leases — — 269 269 633 902 — Total loans $ — $ — $ 18,269 $ 18,269 $ 1,329,433 $ 1,347,702 $ — At December 31, 2016: CRE whole loans $ — $ — $ — $ — $ 1,290,107 $ 1,290,107 $ — Legacy CRE loans (3) 61,400 — — 61,400 96,792 158,192 — Syndicated corporate loans — — — — — — — Direct Financing Leases 137 — 128 265 727 992 — Total loans $ 61,537 $ — $ 128 $ 61,665 $ 1,387,626 $ 1,449,291 $ — (1) Includes one whole loan with an amortized cost of $7.0 million that was in default at September 30, 2017 , on which the Company recorded a $2.5 million provision for loan loss. (2) Includes one loan with an appraised value of $11.0 million that was in default at September 30, 2017 . (3) Includes two loans with an appraised value of $61.4 million that were in default at December 31, 2016 .
Impaired loans	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 At September 30, 2017: Loans without a specific valuation allowance: CRE whole loans $ — $ — $ — $ — $ — Syndicated corporate loans $ — $ — $ — $ — $ — Loans with a specific valuation allowance: CRE whole loans $ 7,000 $ 7,000 $ (2,500 ) $ 7,000 $ — Syndicated corporate loans $ — $ — $ — $ — $ — Total: CRE whole loans $ 7,000 $ 7,000 $ (2,500 ) $ 7,000 $ — Syndicated corporate loans — — — — — $ 7,000 $ 7,000 $ (2,500 ) $ 7,000 $ — At December 31, 2016: Loans without a specific valuation allowance: CRE whole loans $ — $ — $ — $ — $ — Syndicated corporate loans $ — $ — $ — $ — $ — Loans with a specific valuation allowance: CRE whole loans $ 7,000 $ 7,000 $ (2,500 ) $ 7,000 $ 480 Syndicated corporate loans $ — $ — $ — $ — $ — Total: CRE whole loans $ 7,000 $ 7,000 $ (2,500 ) $ 7,000 $ 480 Syndicated corporate loans — — — — — $ 7,000 $ 7,000 $ (2,500 ) $ 7,000 $ 480
Troubled debt restructurings on financing receivables	Troubled-Debt Restructurings ("TDR") The following tables show TDRs in the Company's loan portfolio (dollars in thousands): Nine Months Ended September 30, 2017 Nine Months Ended September 30, 2016 Number of Loans Pre-Modification Outstanding Recorded Balance Post-Modification Outstanding Recorded Balance Number of Loans Pre-Modification Outstanding Recorded Balance Post-Modification Outstanding Recorded Balance CRE whole loans — $ — $ — 3 $ 29,459 $ 21,400 Total loans — $ — $ — 3 $ 29,459 $ 21,400

INVESTMENT SECURITIES, TRADING

INVESTMENT SECURITIES, TRADING (Tables)	9 Months Ended
	Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract]
Investment trading securities at fair value	The following table summarizes the Company's structured notes classified as investment securities, trading and carried at fair value (in thousands, except number of securities): Number of Securities Amortized Cost Unrealized Gains Unrealized Losses Fair Value At September 30, 2017: Structured notes 5 $ 2,891 $ — $ (2,729 ) $ 162 Total 5 $ 2,891 $ — $ (2,729 ) $ 162 At December 31, 2016: Structured notes 6 $ 6,242 $ 920 $ (2,670 ) $ 4,492 Total 6 $ 6,242 $ 920 $ (2,670 ) $ 4,492

INVESTMENT SECURITIES AVAILAB38

INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Tables)	9 Months Ended
	Sep. 30, 2017
Available-for-sale Securities [Abstract]
Available-for-sale securities	The following table summarizes the Company's investment securities available-for-sale, including those pledged as collateral. ABS may include, but are not limited to the Company's investments in the Harvest CLOs, which are euro-denominated CLO investments backed by syndicated bank loans, and other securities backed by syndicated corporate loans and other loan obligations. These securities are carried at fair value (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value (1) At September 30, 2017: ABS $ 1,753 $ 1,580 $ — $ 3,333 CMBS 185,508 901 (569 ) 185,840 Total $ 187,261 $ 2,481 $ (569 ) $ 189,173 At December 31, 2016: ABS $ 21,365 $ 3,988 $ (73 ) $ 25,280 CMBS 98,525 425 (863 ) 98,087 RMBS 1,526 77 (2 ) 1,601 Total $ 121,416 $ 4,490 $ (938 ) $ 124,968 (1) At September 30, 2017 and December 31, 2016 , $166.0 million and $97.5 million , respectively, of investment securities available-for-sale were pledged as collateral under related financings. 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 For the Nine Months Ended Positions Sold Par Amount Sold/Redeemed Realized Gain (Loss) Proceeds Positions Sold Par Amount Sold/Redeemed Realized Gain (Loss) Proceeds September 30, 2017 ABS 5 $ 18,301 $ (2,110 ) $ 12,647 7 $ 27,906 $ (325 ) $ 19,881 CMBS 1 5,000 (254 ) 4,046 1 5,000 (254 ) 4,046 RMBS 3 153,519 (158 ) 1,116 3 153,519 (158 ) 1,116 Total 9 $ 176,820 $ (2,522 ) $ 17,809 11 $ 186,425 $ (737 ) $ 25,043
Estimated maturities of available-for-sale securities	The following table summarizes the estimated maturities of the Company’s investment securities available-for-sale according to their estimated weighted average life classifications (in thousands, except percentages): September 30, 2017 December 31, 2016 Amortized Cost Fair Value Weighted Average Coupon Amortized Cost Fair Value Weighted Average Coupon Less than one year (1) $ 46,355 $ 46,192 4.90% $ 80,801 $ 80,325 5.60% Greater than one year and less than five years 100,132 100,850 4.47% 17,197 17,408 4.52% Greater than five years and less than ten years 40,774 42,131 5.45% 9,622 12,936 10.68% Greater than ten years — — —% 13,796 14,299 10.39% Total $ 187,261 $ 189,173 4.79% $ 121,416 $ 124,968 6.39% (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 summarizes the fair value, gross unrealized losses and number of securities aggregated by investment category and the 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 Value Unrealized Losses Number of Securities Fair Value Unrealized Losses Number of Securities Fair Value Unrealized Losses Number of Securities At September 30, 2017: CMBS $ 37,519 $ (412 ) 13 $ 15,331 $ (157 ) 7 $ 52,850 $ (569 ) 20 Total temporarily impaired securities $ 37,519 $ (412 ) 13 $ 15,331 $ (157 ) 7 $ 52,850 $ (569 ) 20 At December 31, 2016: ABS $ — $ — — $ 828 $ (73 ) 1 $ 828 $ (73 ) 1 CMBS 30,869 (436 ) 10 26,616 (427 ) 15 57,485 (863 ) 25 RMBS 662 (2 ) 1 — — — 662 (2 ) 1 Total temporarily impaired securities $ 31,531 $ (438 ) 11 $ 27,444 $ (500 ) 16 $ 58,975 $ (938 ) 27

INVESTMENTS IN UNCONSOLIDATED39

INVESTMENTS IN UNCONSOLIDATED ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Schedule of unconsolidated entities	The following table summarizes the Company's investments in unconsolidated entities at September 30, 2017 and December 31, 2016 and equity in (losses) earnings of unconsolidated entities for the three and nine months ended September 30, 2017 and 2016 (in thousands): Equity in (Losses) Earnings of Unconsolidated Entities Balance at For the For the nine months ended For the For the nine months ended Ownership % at September 30, 2017 September 30, December 31, September 30, September 30, September 30, September 30, RRE VIP Borrower, LLC (1) —% $ — $ — $ 6 $ 44 $ — $ 35 Investment in LCC Preferred Stock (2) —% — 42,960 41,048 41,334 415 2,759 Pearlmark Mezz (3) —% — 16,953 — 165 132 552 RCM Global, LLC 9.5% 32 465 (61 ) (231 ) (560 ) (160 ) Pelium Capital Partners, L.P. (4) 80.2% 12,336 25,993 54 (22 ) 1,045 2,765 Investment in School Lane House (5) —% — — — — — (1 ) Subtotal 12,368 86,371 41,047 41,290 1,032 5,950 Investment in RCT I and II (6) 3.0% 1,548 1,548 (689 ) (1,989 ) (636 ) (1,928 ) Total $ 13,916 $ 87,919 $ 40,358 $ 39,301 $ 396 $ 4,022 (1) The investment in RRE VIP Borrower was sold at December 31, 2014. Earnings for the three and nine months ended September 30, 2017 and September 30, 2016 are related to insurance premium refunds with respect to the underlying sold properties in the portfolio. (2) The Company's investment in LCC was sold in July 2017. The gain recognized on the sale is included in equity in earnings of unconsolidated entities on the Company's consolidated state of operations. (3) The Company had committed to invest up to $50.0 million in Pearlmark Mezz. The commitment termination date was set to end the earlier of when the original commitment was fully funded, or the fifth anniversary following the final closing date of June 24, 2015. The Company sold its investment in Pearlmark Mezz in May 2017. (4) For the nine months ended September 30, 2017 , the Company received proceeds of $13.6 million related to the partial liquidation of its investment. (5) Investment in School Lane House was sold as of December 31, 2014. (6) For the three and nine months ended September 30, 2017 and September 30, 2016 , these amounts are recorded in interest expense on the Company's consolidated statements of operations as the investment is accounted for under the cost method.

BORROWINGS (Tables)

BORROWINGS (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
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 At September 30, 2017: RCC 2015-CRE3 Senior Notes $ 129,263 $ 1,219 $ 128,044 3.72% 14.5 years $ 192,466 RCC 2015-CRE4 Senior Notes 90,883 1,079 89,804 3.41% 14.9 years 180,064 RCC 2017-CRE5 Senior Notes 251,449 3,768 247,681 2.26% 16.8 years 376,703 Unsecured Junior Subordinated Debentures 51,548 — 51,548 5.25% 19.1 years — 4.50% Convertible Senior Notes 143,750 17,377 126,373 4.50% 4.9 years — 6.00% Convertible Senior Notes 70,453 1,181 69,272 6.00% 1.2 years — 8.00% Convertible Senior Notes 21,182 523 20,659 8.00% 2.3 years — CRE - Term Repurchase Facilities (1) 241,424 1,433 239,991 2.70% 307 days 366,095 CMBS - Term Repurchase Facilities (2) 45,480 — 45,480 2.98% 214 days 63,060 Trust Certificates - Term Repurchase Facilities (3) 76,693 648 76,045 5.72% 2.3 years 214,375 CMBS - Short Term Repurchase Agreements (4) 77,197 — 77,197 2.70% 78 days 102,849 Total $ 1,199,322 $ 27,228 $ 1,172,094 3.76% 8.1 years $ 1,495,612 Principal Unamortized Issuance Costs and Discounts Outstanding Borrowings Weighted Average Weighted Average Value of At December 31, 2016: RCC 2014-CRE2 Senior Notes $ 131,936 $ 1,871 $ 130,065 2.19% 15.3 years $ 250,255 RCC 2015-CRE3 Senior Notes 196,112 2,358 193,754 2.82% 15.2 years 259,889 RCC 2015-CRE4 Senior Notes 158,475 2,193 156,282 2.55% 15.6 years 247,414 Unsecured Junior Subordinated Debentures 51,548 — 51,548 4.89% 19.8 years — 6.00% Convertible Senior Notes 115,000 3,231 111,769 6.00% 1.9 years — 8.00% Convertible Senior Notes 100,000 3,472 96,528 8.00% 3.0 years — CRE - Term Repurchase Facilities (1) 349,318 2,680 346,638 3.04% 1.6 years 520,503 CMBS - Term Repurchase Facilities (2) 78,503 16 78,487 2.73% 129 days 115,157 Trust Certificates - Term Repurchase Facility (3) 26,667 282 26,385 6.21% 1.9 years 89,181 Total $ 1,207,559 $ 16,103 $ 1,191,456 3.67% 8.0 years $ 1,482,399 (1) Principal amounts include accrued interest expense of $300,000 and $468,000 related to CRE term repurchase facilities at September 30, 2017 and December 31, 2016 , respectively. (2) Principal amounts include accrued interest expense of $35,000 and $157,000 related to CMBS term repurchase facilities at September 30, 2017 and December 31, 2016 , respectively. (3) Principal amounts include accrued interest expense of $182,000 and $69,000 related to trust certificates term repurchase facilities at September 30, 2017 and December 31, 2016 , respectively. (4) Principal amounts include accrued interest expense of $67,000 and $0 related to CMBS short term repurchase agreements at September 30, 2017 and December 31, 2016 , respectively.
Schedule of securitizations	The following table sets forth certain information with respect to the Company's consolidated securitizations at September 30, 2017 (in thousands): Securitization Closing Date Maturity Date End of Designated Principal Reinvestment Period (1) Total Note Paydowns received from Closing Date through September 30, 2017 RCC 2015-CRE3 February 2015 March 2032 February 2017 $ 152,864 RCC 2015-CRE4 August 2015 August 2032 August 2017 $ 132,852 RCC 2017-CRE5 July 2017 July 2034 July 2020 $ — (1) The designated principal reinvestment period is the period where principal payments received by each respective securitization may be utilized by the Company to purchase funding participations of existing collateral originally underwritten at the close of each securitization, which was funded outside of the deal structure.
Repurchase and mortgage finance facilities	The following table sets forth certain information with respect to the Company's repurchase agreement borrowings (dollars in thousands): At September 30, 2017 At December 31, 2016 Outstanding (1) Value of Number of Weighted Average Outstanding (1) Value of Number of Weighted Average CMBS - Term Wells Fargo Bank $ 19,272 $ 24,361 12 2.46% $ 22,506 $ 28,514 13 1.96% Deutsche Bank (2) 26,208 38,699 18 3.37% 55,981 86,643 23 3.04% CRE - Term Wells Fargo Bank (3) 177,832 274,693 16 3.48% 215,283 313,126 16 2.86% Morgan Stanley Bank (4) 62,159 91,402 5 3.85% 131,355 207,377 11 3.34% Trust Certificates Term Repurchase Facilities RSO Repo SPE Trust 2015 (5) 26,502 89,121 2 6.73% 26,385 89,181 2 6.21% RSO Repo SPE Trust 2017 (6) 49,543 125,254 2 5.18% — — — —% Short-Term Repurchase RBC Capital Markets, LLC 71,311 94,682 4 2.70% — — — —% JP Morgan Securities, LLC 5,886 8,167 2 2.63% — — — —% Total $ 438,713 $ 746,379 $ 451,510 $ 724,841 (1) Outstanding Borrowings amount includes accrued interest payable. (2) The Deutsche Bank CMBS term repurchase facility includes $0 and $16,000 of deferred debt issuance costs at September 30, 2017 and December 31, 2016 , respectively. (3) The Wells Fargo Bank CRE term repurchase facility includes $822,000 and $1.6 million of deferred debt issuance costs at September 30, 2017 and December 31, 2016 , respectively. (4) The Morgan Stanley Bank CRE term repurchase facility includes $611,000 and $1.1 million of deferred debt issuance costs at September 30, 2017 and December 31, 2016 , respectively. (5) The RSO Repo SPE Trust 2015 term repurchase facility includes $170,000 and $282,000 of deferred debt issuance costs at September 30, 2017 and December 31, 2016 , respectively. (6) The RSO Repo SPE Trust 2017 term repurchase facility includes $350,000 and $0 of deferred debt issuance costs at September 30, 2017 and December 31, 2016 , respectively.
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 (1) Weighted Average Weighted Average At September 30, 2017: CMBS - Term Repurchase Facilities Wells Fargo Bank, National Association $ 5,130 182 days 2.46% Deutsche Bank AG $ 12,636 237 days 3.37% CRE - Term Repurchase Facilities Wells Fargo Bank, National Association $ 97,116 294 days 3.48% Morgan Stanley Bank, National Association $ 29,224 345 days 3.85% Trust Certificates Term Repurchase Facilities RSO Repo SPE Trust 2015 $ 62,515 1.1 years 6.73% RSO Repo SPE Trust 2017 $ 75,331 3.0 years 5.18% CMBS - Short-Term Repurchase Agreements JP Morgan Securities, LLC $ 2,295 15 days 2.63% RBC Capital Markets, LLC $ 23,520 83 days 2.70% (1) Equal to the total of the estimated fair value of securities or loans sold and accrued interest income, minus the total of repurchase agreement liabilities and accrued interest expense.
Schedule of contractual obligations and commitments	Contractual maturity dates of the Company's borrowings by category and year are presented in the table below (in thousands): Total 2017 2018 2019 2020 2021 and Thereafter CRE securitizations $ 465,529 $ — $ — $ — $ — $ 465,529 Repurchase and credit facilities 438,713 43,750 345,420 — 49,543 — Unsecured junior subordinated debentures 51,548 — — — — 51,548 4.50% Convertible Senior Notes 126,373 — — — — 126,373 6.00% Convertible Senior Notes 69,272 — 69,272 — — — 8.00% Convertible Senior Notes 20,659 — — — 20,659 — Total $ 1,172,094 $ 43,750 $ 414,692 $ — $ 70,202 $ 643,450

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of restricted common stock transactions	The following table summarizes the Company's restricted common stock transactions: Non-Employee Directors Non-Employees (1) Employees Total Unvested shares at January 1, 2017 27,320 301,486 71,244 400,050 Issued 37,492 321,789 12,019 371,300 Vested (25,948 ) (179,087 ) (37,163 ) (242,198 ) Forfeited (4,299 ) (20,902 ) (1,412 ) (26,613 ) Unvested shares at September 30, 2017 34,565 423,286 44,688 502,539 (1) Non-employees are employees of Resource America and C-III.
Schedule of restricted stock granted	The following table summarizes restricted common stock grants during the nine months ended September 30, 2017 : Date Shares Vesting per Year Vesting Date(s) January 25, 2017 333,808 33.3% 1/25/18, 1/25/19, 1/25/20 February 1, 2017 4,242 100% 2/1/18 March 8, 2017 18,450 100% 3/8/18 March 13, 2017 4,299 100% 3/13/18 June 1, 2017 3,575 100% 6/1/18 June 6, 2017 3,680 100% 6/6/18 September 29, 2017 3,246 100% 9/29/18
Summary of stock option transactions	The following table summarizes the status of the Company’s vested stock options at September 30, 2017 : Vested Options Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Vested at January 1, 2017 26,250 $ 46.60 Vested — — Exercised — — Forfeited — — Expired (16,250 ) 59.52 Vested at September 30, 2017 10,000 $ 25.60 3.63 $ —
Summary of share based compensation expense	The components of equity compensation expense for the periods presented are as follows (in thousands): For the Three Months Ended For the Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Restricted shares granted to non-employees (1) $ 817 $ 1,639 $ 2,207 $ 3,352 Restricted shares granted to non-employee directors 78 64 210 192 Total equity compensation expense (2) $ 895 $ 1,703 $ 2,417 $ 3,544 (1) Non-employees are employees of Resource America and C-III. (2) Amounts do not include equity compensation expense for employees of our subsidiary PCM, which is included in net income (loss) for discontinued operations, net of tax.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2017
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 For the Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Net income from continuing operations $ 24,745 $ (34,300 ) $ 46,487 $ (14,540 ) Net income allocated to preferred shares (6,014 ) (6,015 ) (18,043 ) (18,077 ) Carrying value in excess of consideration paid for preferred shares — — — 1,500 Net loss allocable to non-controlling interest, net of taxes — 63 196 213 Net income from continuing operations allocable to common shares 18,731 (40,252 ) 28,640 (30,904 ) Net loss from discontinued operations, net of tax (6,087 ) (11,321 ) (10,832 ) (12,532 ) Net income (loss) allocable to common shares $ 12,644 $ (51,573 ) $ 17,808 $ (43,436 ) Basic: Weighted average number of shares outstanding 30,857,232 30,528,368 30,810,259 30,513,131 Continuing operations $ 0.61 $ (1.32 ) $ 0.93 $ (1.01 ) Discontinued operations (0.20 ) (0.37 ) (0.35 ) (0.41 ) Basic net income (loss) per share $ 0.41 $ (1.69 ) $ 0.58 $ (1.42 ) Diluted: Weighted average number of shares outstanding 30,857,232 30,528,368 30,810,259 30,513,131 Additional shares due to assumed conversion of dilutive instruments 257,920 — 206,849 — Adjusted weighted-average number of common shares outstanding 31,115,152 30,528,368 31,017,108 30,513,131 Continuing operations $ 0.61 $ (1.32 ) $ 0.92 $ (1.01 ) Discontinued operations (0.20 ) (0.37 ) (0.35 ) (0.41 ) Diluted net income (loss) per share $ 0.41 $ (1.69 ) $ 0.57 $ (1.42 ) Potentially dilutive shares excluded from calculation due to anti-dilutive effect (1) 12,215,259 9,002,864 10,085,439 9,002,864

ACCUMULATED OTHER COMPREHENSI43

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Schedule of accumulated other comprehensive income	The following table presents the changes in each component of accumulated other comprehensive income for the nine months ended September 30, 2017 (dollars in thousands): Net unrealized (loss) gain on derivatives Net unrealized (loss) gain on securities, Accumulated other comprehensive income (loss) Balance, January 1, 2017 $ (18 ) $ 3,099 $ 3,081 Other comprehensive income (loss) before reclassifications 211 (3,167 ) (2,956 ) Amounts reclassified from accumulated other 17 1,342 1,359 Balance, September 30, 2017 $ 210 $ 1,274 $ 1,484

DISTRIBUTIONS (Tables)

DISTRIBUTIONS (Tables)	9 Months Ended
	Sep. 30, 2017
DISTRIBUTIONS [Abstract]
Dividends declared	The following tables present dividends declared (on a per share basis) for the first, second and third quarters of 2017 and each of the quarters in 2016: Common Stock Date Paid Total Dividend (in thousands) 2017 March 31 April 27 $ 1,568 $ 0.05 June 30 July 28 $ 1,567 $ 0.05 September 30 October 27 $ 1,566 $ 0.05 2016 March 31 April 28 $ 13,073 $ 0.42 June 30 July 28 $ 13,051 $ 0.42 September 30 October 28 $ 13,012 $ 0.42 December 31 January 27, 2017 $ 1,550 $ 0.05 Preferred Stock Series A Series B Series C Date Paid Total Dividend Date Paid Total Dividend Date Paid Total Dividend (in thousands) (in thousands) (in thousands) 2017 March 31 May 1 $ 568 $ 0.531250 May 1 $ 2,859 $ 0.515625 May 1 $ 2,588 $ 0.539063 June 30 July 31 $ 568 $ 0.531250 July 31 $ 2,859 $ 0.515625 July 31 $ 2,588 $ 0.539063 September 30 October 30 $ 568 $ 0.531250 October 30 $ 2,859 $ 0.515625 October 30 $ 2,588 $ 0.539063 2016 March 31 May 2 $ 568 $ 0.531250 May 2 $ 2,859 $ 0.515625 May 2 $ 2,588 $ 0.539063 June 30 August 1 $ 568 $ 0.531250 August 1 $ 2,859 $ 0.515625 August 1 $ 2,588 $ 0.539063 September 30 October 31 $ 568 $ 0.531250 October 31 $ 2,859 $ 0.515625 October 31 $ 2,588 $ 0.539063 December 31 January 30, 2017 $ 568 $ 0.531250 January 30, 2017 $ 2,859 $ 0.515625 January 30, 2017 $ 2,588 $ 0.539063

FAIR VALUE OF FINANCIAL INSTR45

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair value of financial instruments measured on recurring basis	The following table presents the Company’s financial instruments at fair value on a recurring basis based upon the fair value hierarchy (in thousands): Level 1 Level 2 Level 3 Total At September 30, 2017: Assets: Investment securities, trading $ — $ — $ 162 $ 162 Investment securities available-for-sale — — 189,173 189,173 Loans held for sale — 1 37 38 Derivatives — 235 — 235 Total assets at fair value $ — $ 236 $ 189,372 $ 189,608 Liabilities: Derivatives $ — $ 229 $ — $ 229 Total liabilities at fair value $ — $ 229 $ — $ 229 At December 31, 2016: Assets: Investment securities, trading $ — $ 369 $ 4,123 $ 4,492 Investment securities available-for-sale — — 124,968 124,968 Loans held for sale — 787 220 1,007 Derivatives — 647 — 647 Total assets at fair value $ — $ 1,803 $ 129,311 $ 131,114 Liabilities: Derivatives $ — $ 97 $ — $ 97 Total liabilities at fair value $ — $ 97 $ — $ 97
Fair value assets unobservable input reconciliation	The following table presents additional information about the Company's assets that are measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs (in thousands): CMBS ABS Structured Loans Held for Sale RMBS Total Balance, January 1, 2017 $ 98,087 $ 25,280 $ 4,123 $ 220 $ 1,601 $ 129,311 Included in earnings — 1,665 154 58 (158 ) 1,719 Purchases 121,757 — — — — 121,757 Sales (4,025 ) (19,767 ) — — (1,111 ) (24,903 ) Paydowns (30,748 ) (2,773 ) (4,115 ) (241 ) (256 ) (38,133 ) Capitalized interest — 1,263 — — — 1,263 Included in OCI 769 (2,335 ) — — (76 ) (1,642 ) Balance, September 30, 2017 $ 185,840 $ 3,333 $ 162 $ 37 $ — $ 189,372
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) At September 30, 2017: Loans held for investment $ 1,264,264 $ 1,270,375 $ — $ — $ 1,270,375 Senior notes in CRE securitizations $ 465,529 $ 470,715 $ — $ — $ 470,715 Junior subordinated notes $ 51,548 $ 26,442 $ — $ — $ 26,442 Convertible senior notes $ 216,304 $ 235,385 $ — $ — $ 235,385 Repurchase agreements $ 438,713 $ 440,081 $ — $ — $ 440,081 Indemnification agreement $ 703 $ 703 $ — $ — $ 703 At December 31, 2016: Loans held for investment $ 1,286,278 $ 1,292,099 $ — $ — $ 1,292,099 Senior notes in CRE securitizations $ 480,101 $ 486,524 $ — $ — $ 486,524 Junior subordinated notes $ 51,548 $ 27,246 $ — $ — $ 27,246 Convertible senior notes $ 208,297 $ 215,000 $ — $ — $ 215,000 Repurchase agreements $ 451,510 $ 453,794 $ — $ — $ 453,794

MARKET RISK AND DERIVATIVE IN46

MARKET RISK AND DERIVATIVE INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
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 operations for the periods presented: Fair Value of Derivative Instruments at September 30, 2017 (in thousands) Asset Derivatives Notional Amount Consolidated Balance Sheet Location Fair Value Interest rate swap contracts, hedging (1) $ 34,250 Derivatives, at fair value $ 211 Forward contracts - foreign currency, hedging (2) (3) $ 3,869 Derivatives, at fair value $ 24 Liability Derivatives Notional Amount Consolidated Balance Sheet Location Fair Value Forward contracts - foreign currency, hedging (2) (3) $ 13,143 Derivatives, at fair value $ 229 Interest rate swap contracts, hedging $ 34,250 Accumulated other comprehensive (income) loss $ (210 ) (1) Interest rate swap contracts are accounted for as cash flow hedges. (2) Foreign currency forward contracts are accounted for as fair value hedges. (3) Notional amount presented is translated to US Dollars. The base currency notional amount of the Company's foreign currency hedging forward contracts in an asset position was €3.3 million at September 30, 2017 . The base currency notional amount of the Company's foreign currency hedging forward contracts in a liability position was €11.1 million at September 30, 2017 . Fair Value of Derivative Instruments at December 31, 2016 (in thousands) Asset Derivatives Notional Amount Consolidated Balance Sheet Location Fair Value Forward contracts - foreign currency, hedging (1) (2) $ 12,489 Derivatives, at fair value $ 647 Liability Derivatives Notional Amount Consolidated Balance Sheet Location Fair Value Forward contracts - foreign currency, hedging (1) (2) $ 11,700 Derivatives, at fair value $ 97 Interest rate swap contracts, hedging $ — Accumulated other comprehensive (income) loss $ (18 ) (1) Foreign currency forward contracts are accounted for as fair value hedges. (2) Notional amount presented on currency converted basis. The base currency notional amount of the Company's foreign currency hedging forward contracts in an asset position was €11.9 million at December 31, 2016 . The base currency notional amount of the Company's foreign currency hedging forward contracts in a liability position was €11.1 million at December 31, 2016 .
The effect of derivative instruments on the statement of income	The Effect of Derivative Instruments on the Consolidated Statements of Operations for the Nine Months Ended September 30, 2017 (in thousands) Derivatives Consolidated Statements of Operations Location Realized and Unrealized Gain (Loss) (1) Interest rate swap contracts, hedging Interest expense $ (53 ) Forward contracts - foreign currency, hedging Net realized and unrealized (loss) gain on investment securities available-for-sale and loans and derivatives $ (1,998 ) (1) Negative values indicate a decrease to the associated consolidated statements of operations line items. The Effect of Derivative Instruments on the Consolidated Statements of Operations for the Nine Months Ended September 30, 2016 (in thousands) Derivatives Consolidated Statements of Operations Location Realized and Unrealized Gain (Loss) (1) Interest rate swap contracts, hedging Interest expense $ (95 ) Forward contracts - foreign currency, hedging Net realized and unrealized (loss) gain on investment securities available-for-sale and loans and derivatives $ (733 ) (1) Negative values indicate a decrease to the associated consolidated statements of operations line items.

OFFSETTING OF FINANCIAL ASSET47

OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2017
Offsetting [Abstract]
Offsetting financial assets and derivative assets	The following table presents a summary of the Company's offsetting of derivative assets (in thousands): (iv) (i) (ii) (iii) = (i) - (ii) Financial Cash (v) = (iii) - (iv) At September 30, 2017: Derivative hedging instruments, at fair value (1) $ 235 $ — $ 235 $ — $ — $ 235 Total $ 235 $ — $ 235 $ — $ — $ 235 At December 31, 2016: Derivative hedging instruments, at fair value $ 647 $ — $ 647 $ — $ — $ 647 Total $ 647 $ — $ 647 $ — $ — $ 647 (1) The Company posted cash margin of $1.7 million related to interest rate swap contracts entered into as of September 30, 2017 .
Offsetting financial liabilities and derivative liabilities	The following table presents a summary of the Company's offsetting of financial liabilities and derivative liabilities (in thousands): (iv) (i) (ii) (iii) = (i) - (ii) Financial (1) Cash (v) = (iii) - (iv) At September 30, 2017: Derivative hedging instruments, $ 229 $ — $ 229 $ — $ — $ 229 Repurchase agreements and term facilities (2) 438,713 — 438,713 438,713 — — Total $ 438,942 $ — $ 438,942 $ 438,713 $ — $ 229 At December 31, 2016: Derivative hedging instruments, $ 97 $ — $ 97 $ — $ — $ 97 Repurchase agreements and term facilities (2) 451,510 — 451,510 451,510 — — Total $ 451,607 $ — $ 451,607 $ 451,510 $ — $ 97 (1) Amounts represent collateral pledged that is available to be offset against liability balances associated with term facilities, repurchase agreements and derivative transactions. (2) The combined fair value of securities and loans pledged against the Company's various term facilities and repurchase agreements was $746.4 million and $724.8 million at September 30, 2017 and December 31, 2016 , respectively.

DISCONTINUED OPERATIONS AND A48

DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE (Tables)	9 Months Ended
	Sep. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]
Disposal groups, including discontinued operations	The following table summarizes the operating results of the residential mortgage and middle market lending segments discontinued operations as reported separately as income (loss) from discontinued operations, net of tax for the three and nine months ended September 30, 2017 and 2016 (in thousands): For the Three Months Ended For the Nine Months Ended September 30, September 30, 2017 2016 2017 2016 REVENUES Interest income: Loans $ 892 $ 4,236 $ 2,682 $ 24,727 Interest income - other 44 27 76 43 Total interest income 936 4,263 2,758 24,770 Interest expense — 467 — 6,181 Net interest income 936 3,796 2,758 18,589 Gain on sale of residential mortgage loans (1,186 ) 6,029 5,688 15,542 Fee income (loss) (197 ) 989 3,480 (944 ) Total revenues (447 ) 10,814 11,926 33,187 OPERATING EXPENSES Equity compensation expense - related party 65 63 286 900 General and administrative 5,590 8,834 21,985 22,392 Depreciation and amortization — 142 — 418 Provision for loan and lease losses, net — 121 — 12,180 Total operating expenses 5,655 9,160 22,271 35,890 (6,102 ) 1,654 (10,345 ) (2,703 ) OTHER INCOME (EXPENSE) Net realized gain (loss) on investment securities available-for-sale and loans 97 (9,631 ) 13 (9,829 ) Fair value adjustments on financial assets held for sale (82 ) — (500 ) — Total other income (expense) 15 (9,631 ) (487 ) (9,829 ) LOSS FROM DISCONTINUED OPERATIONS BEFORE TAXES (6,087 ) (7,977 ) (10,832 ) (12,532 ) Income tax benefit — (3,344 ) — — NET LOSS FROM DISCONTINUED OPERATIONS $ (6,087 ) $ (11,321 ) $ (10,832 ) $ (12,532 ) The assets and liabilities of business segments classified as discontinued operations and other assets and liabilities classified as held for sale are reported separately in the accompanying consolidated financial statements and are summarized as follows at September 30, 2017 and December 31, 2016 (in thousands): September 30, December 31, ASSETS Restricted cash $ 139 $ 145 Interest receivable 80 305 Loans held for sale, at fair value 110,669 346,761 Property available for sale — 125 Derivatives, at fair value — 3,773 Intangible assets (1) 18,149 14,466 Other assets (2) 9,156 17,880 Total assets held for sale $ 138,193 $ 383,455 LIABILITIES Accounts payable and other liabilities $ 9,293 $ 8,404 Management fee payable - related party 56 132 Accrued interest expense 22 203 Borrowings (3) — 133,139 Derivatives, at fair value — 685 Total liabilities held for sale $ 9,371 $ 142,563 (1) Includes mortgage services rights ("MSRs") with a fair value of $18.1 million and $14.4 million at September 30, 2017 and December 31, 2016 , respectively. MSRs are recorded at fair value using a discounted cash flow approach to estimate the fair value utilizing the valuation services of an independent third party. The key assumptions used in the estimation of fair value include prepayment speeds, discount rates, default rates, cost to service, contractual servicing fees and escrow earnings. (2) Includes the Company's investment in life settlement contracts of $6.4 million and $5.8 million at September 30, 2017 and December 31, 2016 , respectively, which were transferred to held for sale in the fourth quarter of 2016. (3) Borrowings at December 31, 2016 are entirely related to PCM. There were no borrowings at September 30, 2017 .
Summary of loans held-for-sale	The following table summarizes the loans held for sale in the residential mortgage and middle market lending segments as well as the non-performing Legacy CRE loans transferred to held for sale in the fourth quarter of 2016. The loans held for sale are carried at the lower of cost or fair value (in thousands, except quantities): Quantity Amortized Cost Fair Value At September 30, 2017: Legacy CRE whole loans 5 $ 78,459 $ 78,459 Mezzanine loans (2) 1 — — Middle market loans (3) 5 41,199 29,177 Residential mortgage loans (5)(6) 27 3,033 3,033 Total loans 38 $ 122,691 $ 110,669 At December 31, 2016: Legacy CRE whole loans (1) 8 $ 158,192 $ 158,178 Mezzanine loans (2) 1 — — Middle market loans (3)(4) 7 52,382 40,443 Residential mortgage loans (5)(6)(7) 529 148,140 148,140 Total loans 545 $ 358,714 $ 346,761 (1) Third party appraisals were obtained on six of the Legacy CRE whole loans and, as a result, specific provisions of $8.1 million were recorded prior to the loans being reclassified to held for sale status. Additional provisions in the amount of $7.7 million were recognized after the transfer of loans to held for sale to write down the loans to the lower of cost or fair value during the Company's fourth quarter ended December 31, 2016 . (2) Includes a mezzanine loan with a par value of $38.1 million that was acquired at a fair value of zero as a result of the liquidation of RREF CDO 2006-1 in April 2016 and RREF 2007-1 in November 2016. The mezzanine loan is comprised of two tranches, with maturity dates of November 2018 and September 2021. (3) Includes a directly originated middle market loan with fair values of $1.8 million and $1.9 million at September 30, 2017 and December 31, 2016 , respectively. In May 2017 the loan experienced payment default. The loan's fair market value was supported by a third party valuation mark prepared as of September 30, 2017 . (4) At December 31, 2016, the Company's middle market loans are in several industry categories including: healthcare, education and childcare - 24.4% , diversified/conglomerate service - 17.2% , insurance - 17.1% , cargo transport - 14.2% , beverage, food and tobacco - 12.5% , buildings and real estate - 9.8% and hotels, motels, inns and gaming - 4.8% , based on amortized cost. (5) The fair value option was elected for residential mortgage loans, held for sale. (6) The Company's residential mortgage loan portfolio is comprised of both agency loans and non-agency jumbo loans. The fair values of the agency loan portfolio are generally classified as Level 2 in the fair value hierarchy, as those values are determined based on quoted market prices for similar assets or upon other observable inputs. The fair values of the 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. (7) At December 31, 2016, approximately 39.2% of the Company's residential mortgage loans were originated in Georgia, 16.2% in California, 14.6% in Utah, 5.9% in Virginia and 5.9% in Florida, based on amortized cost.

ORGANIZATION (Details)

ORGANIZATION (Details)	1 Months Ended	9 Months Ended
	Jul. 31, 2014	Sep. 30, 2017	Sep. 30, 2014
Pelium
Variable Interest Entity [Line Items]
Ownership percentage		80.20%	80.40%
Resource America
Variable Interest Entity [Line Items]
Ownership percentage		2.30%
Resource America | CVC Capital Partners
Variable Interest Entity [Line Items]
Ownership percentage		24.00%
RCC Real Estate | RREF 2006-1
Variable Interest Entity [Line Items]
Ownership percentage in VIE		100.00%
RCC Real Estate | RREF 2007-1
Variable Interest Entity [Line Items]
Ownership percentage in VIE		100.00%
RCC Real Estate | RCC CRE Notes 2013
Variable Interest Entity [Line Items]
Ownership percentage in VIE		100.00%
RCC Real Estate | Resource Capital Corp. 2015-CRE2, Ltd.
Variable Interest Entity [Line Items]
Ownership percentage in VIE		100.00%
RCC Real Estate | Resource Capital Corp. 2015-CRE3, Ltd.
Variable Interest Entity [Line Items]
Ownership percentage in VIE		100.00%
RCC Real Estate | RCC 2015-CRE4
Variable Interest Entity [Line Items]
Ownership percentage in VIE		100.00%
RCC Commercial | NEW NP, LLC
Variable Interest Entity [Line Items]
Ownership percentage in VIE		29.60%
RCC Commercial II | Apidos Cinco
Variable Interest Entity [Line Items]
Ownership percentage in VIE		100.00%
RCC Commercial III | Apidos I
Variable Interest Entity [Line Items]
Ownership percentage in VIE		90.00%
RSO EquityCo, LLC | Apidos I
Variable Interest Entity [Line Items]
Ownership percentage in VIE		10.00%
RSO EquityCo, LLC | Apidos CLO VIII Ltd.
Variable Interest Entity [Line Items]
Ownership percentage in VIE		10.00%
RCC Residential, Inc. | Primary Capital Mortgage LLC
Variable Interest Entity [Line Items]
Ownership percentage in VIE		100.00%
RCC Residential, Inc. | RCM Global LLC
Variable Interest Entity [Line Items]
Ownership percentage in VIE	63.80%	9.50%
RCC Residential, Inc. | Long Term Care Conversion Funding, LLC
Variable Interest Entity [Line Items]
Ownership percentage in VIE		100.00%
RCC Depositor, LLC | RCC Opportunities Trust
Variable Interest Entity [Line Items]
Ownership percentage in VIE		100.00%
Resource TRS, LLC | NEW NP, LLC
Variable Interest Entity [Line Items]
Ownership percentage in VIE		25.80%
Resource TRS, Inc | NEW NP, LLC
Variable Interest Entity [Line Items]
Ownership percentage in VIE		44.60%
NEW NP, LLC | Northport TRS, LLC
Variable Interest Entity [Line Items]
Ownership percentage in VIE		100.00%

SUMMARY OF SIGNIFICANT ACCOUN50

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Millions		Sep. 30, 2017	Dec. 31, 2016
Financing Receivable, Allowance for Credit Losses [Line Items]
Cash balance in excess of federal deposit Insurance limit, amount	[1]	$ 278.4	$ 111.6
Deferred tax assets		17
Deferred tax assets, gross, tax expense impact		$ 4.5
Rating 3 | Commercial Real Estate Loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses, percentage of aggregate par amount of loans		1.50%
Rating 4 | Commercial Real Estate Loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses, percentage of aggregate carrying amount of loans		5.00%
[1]	September 30, 2017December 31, 2016Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Restricted cash12,859 3,308Interest receivable3,126 3,153CRE loans, pledged as collateral and net of allowances of $838 and $763733,746 747,726Loans held for sale38 1,007Principal paydowns receivable— 5,820Investment securities available-for-sale, including securities pledged as collateral— 369Other assets9 58Total assets of consolidated VIEs$749,778 $761,441

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details)		Jul. 31, 2017USD ($)	Feb. 01, 2015USD ($)	Jul. 31, 2017USD ($)	May 31, 2017USD ($)	Nov. 30, 2016USD ($)	Jun. 30, 2016	Apr. 30, 2016USD ($)	Feb. 28, 2015USD ($)	Sep. 30, 2014USD ($)	Jul. 31, 2014USD ($)	Sep. 30, 2017USD ($)PositionEntity	Sep. 30, 2017USD ($)PositionEntity	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)PositionEntity	Mar. 31, 2017Entity	Dec. 31, 2016USD ($)	Nov. 14, 2016USD ($)SecurityLoan	Jun. 30, 2015USD ($)	Jun. 24, 2015USD ($)	Oct. 31, 2012Entity	Feb. 28, 2011Entity
Variable Interest Entity [Line Items]
Proceeds from sale of securities available-for-sale													$ 33,347,000	$ 0
Proceeds												$ 17,809,000	25,043,000
Realized Gain (Loss)												(2,522,000)	(737,000)
Investments in unconsolidated entities	[1]											13,916,000	13,916,000		$ 13,916,000		$ 87,919,000
Borrowings	[2]											$ 1,172,094,000	$ 1,172,094,000		$ 1,172,094,000		1,191,456,000
Number of CLO issuers (in entities) | Entity												5	5		5						1	5
Number of CLO issuers liquidated (in entities) | Entity																5
Resource America
Variable Interest Entity [Line Items]
Payments to acquire additional interest in subsidiaries										$ 2,800,000
RCC Residential, Inc.
Variable Interest Entity [Line Items]
Payments to acquire businesses and interest in affiliates											$ 23,500,000
Acquisition of membership interests											$ 15,000,000
Ownership percentage											63.80%
Pelium Capital, L.P.
Variable Interest Entity [Line Items]
Acquisition of membership interests										$ 17,500,000
Ownership percentage										80.40%		80.20%	80.20%		80.20%
Payments to acquire additional interest in subsidiaries			$ 2,500,000						$ 2,500,000
Ownership interest										10.00%
Equity method investments												$ 12,300,000	$ 12,300,000		$ 12,300,000		26,000,000
Investments in unconsolidated entities												$ 12,336,000	$ 12,336,000		$ 12,336,000		25,993,000
Pelium Capital, L.P. | Resource America
Variable Interest Entity [Line Items]
Payments to acquire additional interest in subsidiaries										$ 2,800,000
Pearlmark Mezz
Variable Interest Entity [Line Items]
Proceeds from sale of securities available-for-sale					$ 16,200,000
Realized Gain (Loss)					(345,000)
Ownership percentage												0.00%	0.00%		0.00%
Other commitment																			$ 50,000,000	$ 50,000,000
Property, management fee, percent fee							1.00%
Management fee, invested capital, percent fee							1.50%
Rebate, percentage							25.00%
Proceeds from sale of equity interest					$ 16,200,000
Investments in unconsolidated entities												$ 0	$ 0		$ 0		$ 16,953,000
Pearlmark Mezz | Resource America
Variable Interest Entity [Line Items]
Ownership percentage in VIE							50.00%
Apidos Cinco
Variable Interest Entity [Line Items]
Intended for sale, number of securities | Security																		1
Number of loans | Loan																		3
Available-for-sale securities, debt securities																		$ 2,300,000
Proceeds from sale of securities available-for-sale															22,400,000
RREF 2006-1
Variable Interest Entity [Line Items]
Value of collateral								$ 65,700,000
Debt instrument, collateral amount								7,500,000
Proceeds								$ 846,000
RREF 2007-1
Variable Interest Entity [Line Items]
Value of collateral						$ 130,900,000
Debt instrument, collateral amount						33,700,000
Realized Gain (Loss)						$ 2,100,000
RCM Global LLC | RCC Residential, Inc.
Variable Interest Entity [Line Items]
Ownership percentage in VIE											63.80%		9.50%
Equity method investments, fair value												$ 32,000	$ 32,000		$ 32,000
VIE, Not Primary Beneficiary | LCC
Variable Interest Entity [Line Items]
Variable interest entity, number of board positions held by the company | Position												2	2		2
Variable interest entity, total number of board positions | Position												6	6		6
Proceeds from sale of equity interest		$ 84,300,000		$ 84,300,000
Gain from sale of equity interest				$ 41,100,000
VIE, Not Primary Beneficiary | Investment in RCT I and II
Variable Interest Entity [Line Items]
Ownership percentage in VIE													100.00%
Investments in unconsolidated entities												$ 1,500,000	$ 1,500,000		$ 1,500,000
VIE, Not Primary Beneficiary | Interest in RCT I
Variable Interest Entity [Line Items]
Investments in unconsolidated entities												$ 774,000	$ 774,000		$ 774,000
Percentage of total value of trusts owned												3.00%	3.00%		3.00%
Borrowings												$ 25,800,000	$ 25,800,000		$ 25,800,000
VIE, Not Primary Beneficiary | Interest in RCT II
Variable Interest Entity [Line Items]
Investments in unconsolidated entities												$ 774,000	$ 774,000		$ 774,000
Percentage of total value of trusts owned												3.00%	3.00%		3.00%
[1]	September 30, 2017December 31, 2016Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Restricted cash12,859 3,308Interest receivable3,126 3,153CRE loans, pledged as collateral and net of allowances of $838 and $763733,746 747,726Loans held for sale38 1,007Principal paydowns receivable— 5,820Investment securities available-for-sale, including securities pledged as collateral— 369Other assets9 58Total assets of consolidated VIEs$749,778 $761,441
[2]	September 30, 2017 December 31, 2016Liabilities of consolidated VIEs included in the total liabilities above: Accounts payable and other liabilities$45 $133Accrued interest expense566 519Borrowings465,531 480,103Total liabilities of consolidated VIEs$466,142 $480,755

VARIABLE INTEREST ENTITIES (Sch

VARIABLE INTEREST ENTITIES (Schedule of Carrying Value of Assets and Liabilities of Consolidated VIEs) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS:
Restricted cash	$ 12,859	$ 3,308
Loans, pledged as collateral	0	5,820
Loans held for sale	38	1,007
Other assets	9	58
Total assets of consolidated VIEs	749,778	761,441
LIABILITIES
Borrowings	465,531	480,103
Accrued interest expense	566	519
Accounts payable and other liabilities	45	133
Total liabilities of consolidated VIEs	466,142	$ 480,755
VIE, Primary Beneficiary
ASSETS:
Restricted cash	12,859
Loans, pledged as collateral	733,746
Loans held for sale	38
Interest receivable	3,126
Other assets	9
Total assets of consolidated VIEs	749,778
LIABILITIES
Borrowings	465,531
Accrued interest expense	566
Accounts payable and other liabilities	45
Total liabilities of consolidated VIEs	466,142
Commercial Real Estate Loans | VIE, Primary Beneficiary
ASSETS:
Restricted cash	12,302
Loans, pledged as collateral	733,746
Loans held for sale	0
Interest receivable	3,126
Other assets	9
Total assets of consolidated VIEs	749,183
LIABILITIES
Borrowings	465,531
Accrued interest expense	566
Accounts payable and other liabilities	45
Total liabilities of consolidated VIEs	466,142
Other | VIE, Primary Beneficiary
ASSETS:
Restricted cash	557
Loans, pledged as collateral	0
Loans held for sale	38
Interest receivable	0
Other assets	0
Total assets of consolidated VIEs	595
LIABILITIES
Borrowings	0
Accrued interest expense	0
Accounts payable and other liabilities	0
Total liabilities of consolidated VIEs	$ 0

VARIABLE INTEREST ENTITIES (S53

VARIABLE INTEREST ENTITIES (Schedule of Classification, Carrying Value, and Maximum Exposure to Loss of Unconsolidated VIEs) (Details) - VIE, Not Primary Beneficiary $ in Thousands	Sep. 30, 2017USD ($)
Variable Interest Entity [Line Items]
Investments in unconsolidated entities	$ 13,916
Total assets	13,916
Borrowings	51,548
Total liabilities	51,548
Net asset (liability)	(37,632)
Investments in Unconsolidated Entities
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	13,916
Unsecured Junior Subordinated Debentures
Variable Interest Entity [Line Items]
Investments in unconsolidated entities	1,548
Total assets	1,548
Borrowings	51,548
Total liabilities	51,548
Net asset (liability)	(50,000)
RCM Global LLC
Variable Interest Entity [Line Items]
Investments in unconsolidated entities	32
Total assets	32
Borrowings	0
Total liabilities	0
Net asset (liability)	32
Pelium Capital
Variable Interest Entity [Line Items]
Investments in unconsolidated entities	12,336
Total assets	12,336
Borrowings	0
Total liabilities	0
Net asset (liability)	$ 12,336

SUPPLEMENTAL CASH FLOW INFORM54

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended
		Aug. 31, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Non-cash discontinued operating activities include the following:
Interest expense paid by third party			$ (13,853)	$ (13,653)	$ (42,454)	$ (40,401)
Operating liabilities assumed by third party	[1]		(1,199,002)		(1,199,002)		$ (1,350,453)
Discontinued Operations
Non-cash discontinued financing activities include the following:
Senior secured revolving credit facility assumed by third party		$ (122,000)			0	(122,000)
Senior secured revolving credit facility paid down by third party		(22,000)			0	(22,000)
Discontinued Operations | Interest Expense Paid by Third Party
Non-cash discontinued operating activities include the following:
Interest expense paid by third party		(107)			0	(107)
Discontinued Operations | Operating Liabilities Assumed by Third Party
Non-cash discontinued operating activities include the following:
Operating liabilities assumed by third party		$ (192)	0	(192)	0	(192)
Continuing Operations
Non-cash continuing investing activities include the following:
Retained beneficial interest in unconsolidated securitization entities					0	(22,476)
Loans acquired through collateralized debt obligation liquidation					0	(44,893)
Securities acquired through collateralized debt obligation liquidation					0	(20,837)
Continuing Operations | Common Stock
Non-cash continuing financing activities include the following:
Proceeds from the private exchange of convertible senior notes					22,161	0
Distributions on common and preferred stock declared but not paid			1,566	13,012	1,566	13,012
Continuing Operations | Preferred Stock
Non-cash continuing financing activities include the following:
Payments on the private exchange of convertible senior notes					(22,161)	0
Distributions on common and preferred stock declared but not paid			$ 4,010	$ 4,010	$ 4,010	$ 4,010
[1]	September 30, 2017 December 31, 2016Liabilities of consolidated VIEs included in the total liabilities above: Accounts payable and other liabilities$45 $133Accrued interest expense566 519Borrowings465,531 480,103Total liabilities of consolidated VIEs$466,142 $480,755

LOANS (Summary of Loans) (Detai

LOANS (Summary of Loans) (Details) $ in Thousands	Sep. 30, 2017USD ($)Loan	Dec. 31, 2016USD ($)Loan
Receivables with Imputed Interest [Line Items]
Unamortized (Discount) Premium, net	$ (6,112)	$ (5,819)
Allowance for Loan Losses	(4,077)	(3,829)
Principal, Loans held for sale	38	1,007
Amortized Cost, Loans held for sale	38	1,007
Carrying Value, Loans held for sale	38	1,007
Principal, Total loans	1,274,491	1,296,933
Amortized Cost, Total loans	1,268,379	1,291,114
Carrying Value, Total loans	1,264,302	1,287,285
Commercial Real Estate Loans
Receivables with Imputed Interest [Line Items]
Principal, Loans held for investment	1,274,453	1,295,926
Unamortized (Discount) Premium, net	(6,112)	(5,819)
Amortized Cost, Loans held for investment	1,268,341	1,290,107
Allowance for Loan Losses	(4,077)	(3,829)
Carrying Value, Loans held for investment	1,264,264	1,286,278
Loan origination fees	5,800	5,800
Deferred amendment fees	310	4
Syndicated Corporate Loans | Second lien
Receivables with Imputed Interest [Line Items]
Principal, Loans held for sale	38	1,007
Amortized Cost, Loans held for sale	38	1,007
Carrying Value, Loans held for sale	$ 38	$ 1,007
CRE whole loans | Commercial Real Estate Loans
Receivables with Imputed Interest [Line Items]
Quantity | Loan	65,000	67,000
Principal, Loans held for investment	$ 1,274,453	$ 1,295,926
Unamortized (Discount) Premium, net	(6,112)	(5,819)
Amortized Cost, Loans held for investment	1,268,341	1,290,107
Allowance for Loan Losses	(4,077)	(3,829)
Carrying Value, Loans held for investment	1,264,264	1,286,278
Loans held for investment, unfunded loan commitments	$ 65,100	$ 55,500
CRE whole loans | Commercial Real Estate Loans | London Interbank Offered Rate (LIBOR) | Minimum
Receivables with Imputed Interest [Line Items]
Basis spread on variable rate	3.75%	3.75%
CRE whole loans | Commercial Real Estate Loans | London Interbank Offered Rate (LIBOR) | Maximum
Receivables with Imputed Interest [Line Items]
Basis spread on variable rate	6.25%	6.45%

LOANS (Commercial Real Estate L

LOANS (Commercial Real Estate Loans, at Amortized Cost) (Details) - Commercial Real Estate Loans - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Receivables with Imputed Interest [Line Items]
2,017	$ 58,986	$ 7,000
2,018	9,188	24,476
2019 and Thereafter	1,200,167	1,258,631
Amortized Cost, Loans held for investment	1,268,341	1,290,107
CRE whole loans
Receivables with Imputed Interest [Line Items]
2,017	58,986	7,000
2,018	9,188	24,476
2019 and Thereafter	1,200,167	1,258,631
Amortized Cost, Loans held for investment	$ 1,268,341	$ 1,290,107

LOANS (Narrative) (Details)

LOANS (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Loans receivable–related party	$ 10,900	$ 19,300
Legacy CRE whole loans
Variable Interest Entity [Line Items]
Loans receivable–related party, assets held-for-sale	$ 175
Commercial Real Estate Loans | Southwest Region
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk	25.10%	30.70%
Commercial Real Estate Loans | Pacific Region
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk	24.20%	20.40%
Commercial Real Estate Loans | Southeast Region
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk	16.90%	15.50%

FINANCING RECEIVABLES (Allowanc

FINANCING RECEIVABLES (Allowance for Loan Losses and Recorded Investments in Loans) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Financing Receivable, Allowance for Credit Losses
Allowance for losses at beginning of period	$ 4,294	$ 43,586
Provision for (recovery of) loan and lease losses	518	17,765
Loans charged-off	0	402
Transfer to loans held for sale	0	(15,763)
Deconsolidation of VIEs	0	(41,696)
Allowance for losses at end of period	4,812	4,294
Allowance for losses, ending balance:
Individually evaluated for impairment	3,235	2,965
Collectively evaluated for impairment	1,577	1,329
Loans acquired with deteriorated credit quality	4,077	3,829
Loans and Leases, ending balance:
Individually evaluated for impairment	7,902	7,992
Collectively evaluated for impairment	1,261,341	1,283,107
Receivables Acquired with Deteriorated Credit Quality
Allowance for losses, ending balance:
Loans acquired with deteriorated credit quality	0	0
Loans and Leases, ending balance:
Loans acquired with deteriorated credit quality	0	0
Commercial Real Estate Loans
Financing Receivable, Allowance for Credit Losses
Allowance for losses at beginning of period	3,829	41,839
Provision for (recovery of) loan and lease losses	248	18,167
Loans charged-off	0	0
Transfer to loans held for sale	0	(15,763)
Deconsolidation of VIEs	0	(40,414)
Allowance for losses at end of period	4,077	3,829
Allowance for losses, ending balance:
Individually evaluated for impairment	2,500	2,500
Collectively evaluated for impairment	1,577	1,329
Loans acquired with deteriorated credit quality	4,077	3,829
Loans and Leases, ending balance:
Individually evaluated for impairment	7,000	7,000
Collectively evaluated for impairment	1,261,341	1,283,107
Loans acquired with deteriorated credit quality	1,346,800	1,448,285
Commercial Real Estate Loans | Receivables Acquired with Deteriorated Credit Quality
Allowance for losses, ending balance:
Loans acquired with deteriorated credit quality	0	0
Loans and Leases, ending balance:
Loans acquired with deteriorated credit quality	0	0
Syndicated Corporate Loans
Financing Receivable, Allowance for Credit Losses
Allowance for losses at beginning of period	0	1,282
Provision for (recovery of) loan and lease losses	0	(402)
Loans charged-off	0	402
Transfer to loans held for sale	0	0
Deconsolidation of VIEs	0	(1,282)
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 and Leases, ending balance:
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	0	0
Syndicated Corporate Loans | Receivables Acquired with Deteriorated Credit Quality
Allowance for losses, ending balance:
Loans acquired with deteriorated credit quality	0	0
Loans and Leases, ending balance:
Loans acquired with deteriorated credit quality	0	0
Direct Financing Leases
Financing Receivable, Allowance for Credit Losses
Allowance for losses at beginning of period	465	465
Provision for (recovery of) loan and lease losses	270	0
Loans charged-off	0	0
Transfer to loans held for sale	0	0
Deconsolidation of VIEs	0	0
Allowance for losses at end of period	735	465
Allowance for losses, ending balance:
Individually evaluated for impairment	735	465
Collectively evaluated for impairment	0	0
Loans and Leases, ending balance:
Individually evaluated for impairment	902	992
Collectively evaluated for impairment	0	0
Direct Financing Leases | Receivables Acquired with Deteriorated Credit Quality
Allowance for losses, ending balance:
Loans acquired with deteriorated credit quality	0	0
Loans and Leases, ending balance:
Loans acquired with deteriorated credit quality	$ 0	$ 0

FINANCING RECEIVABLES (Credit R

FINANCING RECEIVABLES (Credit Risk Profiles and Allowance For Loan Losses) (Details) $ in Thousands	Sep. 30, 2017USD ($)Loan	Dec. 31, 2016USD ($)
Schedule Of Financing Receivables [Line Items]
Loans and receivables held for sale	$ 38	$ 1,007
Legacy CRE whole loans
Schedule Of Financing Receivables [Line Items]
Number of defaulted loans | Loan	1
Commercial Real Estate Loans
Schedule Of Financing Receivables [Line Items]
Loans and receivables	$ 1,346,800	1,448,285
Commercial Real Estate Loans | CRE whole loans
Schedule Of Financing Receivables [Line Items]
Loans and receivables	$ 1,268,341	1,290,107
Number of defaulted loans | Loan	1
Commercial Real Estate Loans | Legacy CRE whole loans
Schedule Of Financing Receivables [Line Items]
Loans and receivables	$ 78,459	158,178
Commercial Real Estate Loans | Retail Site | Roswell, GA
Schedule Of Financing Receivables [Line Items]
Number of defaulted loans | Loan	1
Commercial Real Estate Loans | Rating 3
Schedule Of Financing Receivables [Line Items]
Allowance for credit losses, percentage of aggregate par amount of loans	1.50%
Loans and receivables	$ 88,938	0
Commercial Real Estate Loans | Rating 3 | CRE whole loans
Schedule Of Financing Receivables [Line Items]
Loans and receivables	88,938	0
Commercial Real Estate Loans | Rating 3 | Legacy CRE whole loans
Schedule Of Financing Receivables [Line Items]
Loans and receivables	$ 0	0
Commercial Real Estate Loans | Rating 4
Schedule Of Financing Receivables [Line Items]
Allowance for credit losses, percentage of aggregate carrying amount of loans	5.00%
Loans and receivables	$ 4,833	7,000
Commercial Real Estate Loans | Rating 4 | CRE whole loans
Schedule Of Financing Receivables [Line Items]
Loans and receivables	4,833	7,000
Commercial Real Estate Loans | Rating 4 | Legacy CRE whole loans
Schedule Of Financing Receivables [Line Items]
Loans and receivables	0	0
Commercial Real Estate Loans | Rating 1
Schedule Of Financing Receivables [Line Items]
Loans and receivables	64,976	1,186,292
Commercial Real Estate Loans | Rating 1 | CRE whole loans
Schedule Of Financing Receivables [Line Items]
Loans and receivables	64,976	1,186,292
Commercial Real Estate Loans | Rating 1 | Legacy CRE whole loans
Schedule Of Financing Receivables [Line Items]
Loans and receivables	0	0
Commercial Real Estate Loans | Rating 2
Schedule Of Financing Receivables [Line Items]
Loans and receivables	1,102,594	96,815
Commercial Real Estate Loans | Rating 2 | CRE whole loans
Schedule Of Financing Receivables [Line Items]
Loans and receivables	1,102,594	96,815
Commercial Real Estate Loans | Rating 2 | Legacy CRE whole loans
Schedule Of Financing Receivables [Line Items]
Loans and receivables	0	0
Commercial Real Estate Loans | Rating 5
Schedule Of Financing Receivables [Line Items]
Loans and receivables	7,000	0
Commercial Real Estate Loans | Rating 5 | CRE whole loans
Schedule Of Financing Receivables [Line Items]
Loans and receivables	7,000	0
Commercial Real Estate Loans | Rating 5 | Legacy CRE whole loans
Schedule Of Financing Receivables [Line Items]
Loans and receivables	0	0
Commercial Real Estate Loans | Held for Sale
Schedule Of Financing Receivables [Line Items]
Loans and receivables held for sale	78,459	158,178
Commercial Real Estate Loans | Held for Sale | CRE whole loans
Schedule Of Financing Receivables [Line Items]
Loans and receivables held for sale	0	0
Commercial Real Estate Loans | Held for Sale | Legacy CRE whole loans
Schedule Of Financing Receivables [Line Items]
Loans and receivables held for sale	$ 78,459	$ 158,178

FINANCING RECEIVABLES Narrative

FINANCING RECEIVABLES Narrative (Details)		Feb. 28, 2017USD ($)	Jul. 31, 2017USD ($)	Sep. 30, 2017USD ($)Loan	Dec. 31, 2016USD ($)Loan	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Loan	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from sale of securities available-for-sale							$ 33,347,000	$ 0
Realized gain from cross-collateralization				$ (2,522,000)			(737,000)
Provision for loan and lease losses				(612,000)		$ 7,562,000	518,000	$ 7,639,000
Direct financing leases, net of allowances	[1]			167,000	$ 527,000		167,000		$ 527,000
Commercial Real Estate Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, amortized cost				1,268,341,000	1,290,107,000		1,268,341,000		1,290,107,000
Value of collateral					110,700,000				110,700,000
Financing receivable, allowance for credit losses									15,800,000
Loans acquired with deteriorated credit quality				$ 1,346,800,000	$ 1,448,285,000		$ 1,346,800,000		$ 1,448,285,000
Number of loans transferred to held-for-sale | Loan									5
Commercial Real Estate Loans | Pacific Region
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk				24.20%	20.40%		24.20%		20.40%
Commercial Real Estate Loans | Mortgage Loans On Real Estate, Specific Reserve [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans transferred to held-for-sale | Loan									4
Commercial Real Estate Loans | Mezzanine loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trigger items, number of loans held for sale | Loan					1				1
Loans acquired with deteriorated credit quality					$ 0				$ 0
Commercial Real Estate Loans | Legacy CRE Whole Loans And Mezzanine Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired with deteriorated credit quality					$ 158,200,000				$ 158,200,000
Commercial Real Estate Loans | Legacy CRE Whole Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Value of collateral				$ 35,000,000			$ 35,000,000
Number of loans, appraisals | Loan					8				8
Number of loans | Loan				2	5		2		5
Commercial Real Estate Loans | Legacy CRE Whole Loans | Industry Grouping of Hotel
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk				50.00%	54.00%		50.00%		54.00%
Commercial Real Estate Loans | Legacy CRE Whole Loans | Industry Grouping of Retail Stores
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk				36.00%	39.00%		36.00%		39.00%
Commercial Real Estate Loans | Legacy CRE Whole Loans | Industry Grouping Of Office Buildings
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk				14.00%	7.00%		14.00%		7.00%
Commercial Real Estate Loans | Legacy CRE Whole Loans | Pacific Region
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk				86.00%	84.00%		86.00%		84.00%
Commercial Real Estate Loans | Legacy CRE Whole Loans | Mountain Region
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk				14.00%	16.00%		14.00%		16.00%
Commercial Real Estate Loans | Studio City, CA | Legacy CRE Whole Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of defaulted loans | Loan					2				2
Commercial Real Estate Loans | Retail Site | Roswell, GA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, amortized cost				$ 7,000,000	$ 7,000,000		$ 7,000,000		$ 7,000,000
Value of collateral					4,500,000				4,500,000
Financing receivable, allowance for credit losses				$ 0	2,500,000		$ 0
Number of defaulted loans | Loan				1			1
Commercial Real Estate Loans | Hotel | Studio City, CA | Legacy CRE Whole Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Value of collateral					$ 61,400,000				$ 61,400,000
Number of loans | Loan					2				2
Debt instrument, par value					$ 67,500,000				$ 67,500,000
Proceeds from sale of securities available-for-sale			$ 67,000,000
Realized gain from cross-collateralization							$ 5,600,000
Commercial Real Estate Loans | Hotel | Tucson, AZ | Legacy CRE Whole Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Value of collateral					$ 14,300,000				$ 14,300,000
Number of loans | Loan					1				1
Debt instrument, par value					$ 32,500,000				$ 32,500,000
Proceeds from sale of securities available-for-sale		$ 21,300,000
Realized gain from cross-collateralization		$ 7,000,000
Commercial Real Estate Loans | Hotel | Palm Springs, CA | Legacy CRE Whole Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Value of collateral					$ 24,000,000				$ 24,000,000
Number of loans | Loan					1				1
Debt instrument, par value					$ 29,500,000				$ 29,500,000
Commercial Real Estate Loans | Office Building | Phoenix, AZ | Legacy CRE Whole Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Value of collateral					$ 11,000,000				$ 11,000,000
Number of loans | Loan					1				1
Debt instrument, par value					$ 17,700,000				$ 17,700,000
Number of defaulted loans | Loan				1			1
Commercial Real Estate Loans | Rating 4
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired with deteriorated credit quality				$ 4,833,000	$ 7,000,000		$ 4,833,000		$ 7,000,000
Commercial Real Estate Loans | Rating 4 | Retail Site | Roswell, GA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans, trigger items | Loan				1	1		1		1
Commercial Real Estate Loans | Rating 4 | Hotel | Florida
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired with deteriorated credit quality				$ 52,000,000			$ 52,000,000
Number of defaulted loans | Loan				1			1
Commercial Real Estate Loans | Rating 1 and 2 | Legacy CRE Whole Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired with deteriorated credit quality				$ 44,600,000	$ 44,600,000		$ 44,600,000		$ 44,600,000
Number of loans | Loan				3	3		3		3
Direct Financing Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for loan and lease losses				$ 0			$ 270,000
[1]	September 30, 2017December 31, 2016Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Restricted cash12,859 3,308Interest receivable3,126 3,153CRE loans, pledged as collateral and net of allowances of $838 and $763733,746 747,726Loans held for sale38 1,007Principal paydowns receivable— 5,820Investment securities available-for-sale, including securities pledged as collateral— 369Other assets9 58Total assets of consolidated VIEs$749,778 $761,441

FINANCING RECEIVABLES (Loan Por

FINANCING RECEIVABLES (Loan Portfolio Aging Analysis) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)Loan	Dec. 31, 2016USD ($)Loan
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	$ 18,269	$ 61,665
Current	1,329,433	1,387,626
Total Loans Receivable	1,347,702	1,449,291
Total Loans Greater Than 90 days and accruing	0	0
Individually evaluated for impairment	3,235	2,965
30-59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	61,537
60-89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	18,269	128
Commercial Real Estate Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Individually evaluated for impairment	2,500	2,500
Commercial Real Estate Loans | CRE whole loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	7,000	0
Current	1,261,341	1,290,107
Total Loans Receivable	1,268,341	1,290,107
Total Loans Greater Than 90 days and accruing	$ 0	0
Number of impaired loans | Loan	1
Individually evaluated for impairment	$ 7,000
Provision for loan loss	2,500
Commercial Real Estate Loans | Legacy CRE Whole Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	11,000	61,400
Current	67,459	96,792
Total Loans Receivable	78,459	158,192
Total Loans Greater Than 90 days and accruing	0	0
Commercial Real Estate Loans | 30-59 Days | CRE whole loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Commercial Real Estate Loans | 30-59 Days | Legacy CRE Whole Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	$ 0	$ 61,400
Number of impaired loans | Loan	1	2
Individually evaluated for impairment	$ 11,000	$ 61,400
Commercial Real Estate Loans | 60-89 Days | CRE whole loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Commercial Real Estate Loans | 60-89 Days | Legacy CRE Whole Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Commercial Real Estate Loans | Greater than 90 Days | CRE whole loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	7,000	0
Commercial Real Estate Loans | Greater than 90 Days | Legacy CRE Whole Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	11,000	0
Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Current	0	0
Total Loans Receivable	0	0
Total Loans Greater Than 90 days and accruing	0	0
Individually evaluated for impairment	0	0
Commercial Portfolio Segment [Member] | 30-59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Commercial Portfolio Segment [Member] | 60-89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Commercial Portfolio Segment [Member] | Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Direct Financing Leases
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	269	265
Current	633	727
Total Loans Receivable	902	992
Total Loans Greater Than 90 days and accruing	0	0
Individually evaluated for impairment	735	465
Direct Financing Leases | 30-59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	137
Direct Financing Leases | 60-89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Direct Financing Leases | Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	$ 269	$ 128

FINANCING RECEIVABLES (Impaired

FINANCING RECEIVABLES (Impaired Loans) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Financing Receivable, Impaired [Line Items]
Recorded Balance	$ 7,000	$ 7,000
Unpaid Principal Balance	7,000	7,000
Specific Allowance	(2,500)	(2,500)
Average Investment in Impaired Loans	7,000	7,000
Interest Income Recognized	0	480
Commercial Real Estate Loans | CRE whole loans
Financing Receivable, Impaired [Line Items]
Recorded Balance, Loans without a specific valuation allowance	0	0
Recorded Balance, Loans with a specific valuation allowance	7,000	7,000
Recorded Balance	7,000	7,000
Unpaid Principal Balance, Loans without a specific valuation allowance	0	0
Unpaid Principal Balance, Loans with a specific valuation allowance	7,000	7,000
Unpaid Principal Balance	7,000	7,000
Specific Allowance	(2,500)	(2,500)
Average Investment in Impaired Loans, Loans without a specific valuation allowance	0	0
Average Investment in Impaired Loans, Loans with specific valuation allowance	7,000	7,000
Average Investment in Impaired Loans	7,000	7,000
Interest Income Recognized, Loans without a specific valuation allowance	0	0
Interest Income Recognized, Loans with a specific valuation allowance	0	480
Interest Income Recognized	0	480
Commercial Portfolio Segment [Member]
Financing Receivable, Impaired [Line Items]
Recorded Balance, Loans without a specific valuation allowance	0	0
Recorded Balance, Loans with a specific valuation allowance	0	0
Recorded Balance	0	0
Unpaid Principal Balance, Loans without a specific valuation allowance	0	0
Unpaid Principal Balance, Loans with a specific valuation allowance	0	0
Unpaid Principal Balance	0	0
Specific Allowance	0	0
Average Investment in Impaired Loans, Loans without a specific valuation allowance	0	0
Average Investment in Impaired Loans, Loans with specific valuation allowance	0	0
Average Investment in Impaired Loans	0	0
Interest Income Recognized, Loans without a specific valuation allowance	0	0
Interest Income Recognized, Loans with a specific valuation allowance	0	0
Interest Income Recognized	$ 0	$ 0

FINANCING RECEIVABLES (Loan P63

FINANCING RECEIVABLES (Loan Portfolio Troubled-debt Restructurings "TDR") (Details) - Commercial Real Estate Loans $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)Loan	Sep. 30, 2016USD ($)Loan
Troubled debt restructuring [Abstract]
Number of Loans | Loan	0	3
Pre-Modification Outstanding Recorded Balance	$ 0	$ 29,459
Post-Modification Outstanding Recorded Balance	$ 0	$ 21,400
CRE whole loans
Troubled debt restructuring [Abstract]
Number of Loans | Loan	0	3
Pre-Modification Outstanding Recorded Balance	$ 0	$ 29,459
Post-Modification Outstanding Recorded Balance	$ 0	$ 21,400

INVESTMENT SECURITIES, TRADIN64

INVESTMENT SECURITIES, TRADING (Schedule of Investment Trading Securities at Fair Value) (Details) $ in Thousands		Sep. 30, 2017USD ($)Security	Dec. 31, 2016USD ($)Security
Schedule of Trading Securities and Other Trading Assets [Line Items]
Number of Securities | Security		5	6
Amortized Cost		$ 2,891	$ 6,242
Unrealized Gains		0	920
Unrealized Losses		(2,729)	(2,670)
Fair Value	[1]	$ 162	$ 4,492
Structured notes
Schedule of Trading Securities and Other Trading Assets [Line Items]
Number of Securities | Security		5	6
Amortized Cost		$ 2,891	$ 6,242
Unrealized Gains		0	920
Unrealized Losses		(2,729)	(2,670)
Fair Value		$ 162	$ 4,492
[1]	September 30, 2017December 31, 2016Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Restricted cash12,859 3,308Interest receivable3,126 3,153CRE loans, pledged as collateral and net of allowances of $838 and $763733,746 747,726Loans held for sale38 1,007Principal paydowns receivable— 5,820Investment securities available-for-sale, including securities pledged as collateral— 369Other assets9 58Total assets of consolidated VIEs$749,778 $761,441

INVESTMENT SECURITIES, TRADIN65

INVESTMENT SECURITIES, TRADING (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)Security	Sep. 30, 2016Security	Sep. 30, 2017USD ($)Security	Sep. 30, 2016Security
Investments, Debt and Equity Securities [Abstract]
Trading securities, number sold | Security	0	0	1	0
Trading securities, realized gain | $	$ 0		$ 9,000

INVESTMENT SECURITIES AVAILAB66

INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Schedule of Available-for-Sale Securities, Fair Value) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 187,261	$ 121,416
Unrealized Gains	2,481	4,490
Unrealized Losses	(569)	(938)
Fair Value	189,173	124,968
Assets pledged as collateral	166,000	97,500
ABS
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,753	21,365
Unrealized Gains	1,580	3,988
Unrealized Losses	0	(73)
Fair Value	3,333	25,280
CMBS
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	185,508	98,525
Unrealized Gains	901	425
Unrealized Losses	(569)	(863)
Fair Value	$ 185,840	98,087
RMBS
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		1,526
Unrealized Gains		77
Unrealized Losses		(2)
Fair Value		$ 1,601

INVESTMENT SECURITIES AVAILAB67

INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Estimated Maturities of Available-For-Sale Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Amortized Cost
Less than one year	$ 46,355	$ 80,801
Greater than one year and less than five years	100,132	17,197
Greater than five years and less than ten years	40,774	9,622
Greater than ten years	0	13,796
Total	187,261	121,416
Fair Value
Less than one year	46,192	80,325
Greater than one year and less than five years	100,850	17,408
Greater than five years and less than ten years	42,131	12,936
Greater than ten years	0	14,299
Total	$ 189,173	$ 124,968
Weighted Average Coupon
Less than one year	4.90%	5.60%
Greater than one year and less than five years	4.47%	4.52%
Greater than five years and less than ten years	5.45%	10.68%
Greater than ten years	0.00%	10.39%
Total	4.79%	6.39%

INVESTMENT SECURITIES AVAILAB68

INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Gross Unrealized Loss and Fair Value of Securities) (Details) $ in Thousands	Sep. 30, 2017USD ($)Security	Dec. 31, 2016USD ($)Security
Schedule of Available-for-sale Securities [Line Items]
Fair Value, less than 12 months	$ 37,519	$ 31,531
Unrealized Losses, less than 12 months	$ (412)	$ (438)
Number of Securities, less than 12 months | Security	13	11
Fair value, more than 12 months	$ 15,331	$ 27,444
Unrealized losses, more than 12 Months	$ (157)	$ (500)
Number of Securities, more than 12 Months | Security	7	16
Fair value, total	$ 52,850	$ 58,975
Unrealized losses, total	$ (569)	$ (938)
Number of Securities, total | Security	20	27
CMBS
Schedule of Available-for-sale Securities [Line Items]
Fair Value, less than 12 months	$ 37,519	$ 30,869
Unrealized Losses, less than 12 months	$ (412)	$ (436)
Number of Securities, less than 12 months | Security	13	10
Fair value, more than 12 months	$ 15,331	$ 26,616
Unrealized losses, more than 12 Months	$ (157)	$ (427)
Number of Securities, more than 12 Months | Security	7	15
Fair value, total	$ 52,850	$ 57,485
Unrealized losses, total	$ (569)	$ (863)
Number of Securities, total | Security	20	25
ABS
Schedule of Available-for-sale Securities [Line Items]
Fair Value, less than 12 months		$ 0
Unrealized Losses, less than 12 months		$ 0
Number of Securities, less than 12 months | Security		0
Fair value, more than 12 months		$ 828
Unrealized losses, more than 12 Months		$ (73)
Number of Securities, more than 12 Months | Security		1
Fair value, total		$ 828
Unrealized losses, total		$ (73)
Number of Securities, total | Security		1
RMBS
Schedule of Available-for-sale Securities [Line Items]
Fair Value, less than 12 months		$ 662
Unrealized Losses, less than 12 months		$ (2)
Number of Securities, less than 12 months | Security		1
Fair value, more than 12 months		$ 0
Unrealized losses, more than 12 Months		$ 0
Number of Securities, more than 12 Months | Security		0
Fair value, total		$ 662
Unrealized losses, total		$ (2)
Number of Securities, total | Security		1

INVESTMENT SECURITIES AVAILAB69

INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Narrative) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)Security	Sep. 30, 2016USD ($)SecurityPosition	Sep. 30, 2017USD ($)Security	Sep. 30, 2016USD ($)SecurityPosition
Variable Interest Entity [Line Items]
Other than temporary impairment losses	$ 0	$ 21,600,000	$ 0	$ 21,600,000
Trading securities, number sold | Security	0	0	1	0
CMBS
Variable Interest Entity [Line Items]
Other than temporary impairment losses, investments		$ 732,000		$ 732,000
Intended for sale, number of securities | Position		1		1
Available-for-sale securities, sold at par				$ 4,000,000
RMBS
Variable Interest Entity [Line Items]
Other than temporary impairment losses, investments		$ 241,000		$ 241,000
Number of impaired securities | Position		3		3
RREF 2007-1 | VIE, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Other than temporary impairment losses				$ 20,700,000

INVESTMENT SECURITIES AVAILAB70

INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Sale of Available-for-Sale Securities) (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017USD ($)Position	Sep. 30, 2017USD ($)Position
Schedule of Available-for-sale Securities [Line Items]
Positions Sold | Position	9	11
Par Amount Sold/Redeemed	$ 176,820	$ 186,425
Realized Gain (Loss)	(2,522)	(737)
Proceeds	17,809	$ 25,043
Number of securities sold creating receivable | Position		1
Available-for-sale securities, receivable	$ 959	$ 959
ABS
Schedule of Available-for-sale Securities [Line Items]
Positions Sold | Position	5	7
Par Amount Sold/Redeemed	$ 18,301	$ 27,906
Realized Gain (Loss)	(2,110)	(325)
Proceeds	$ 12,647	$ 19,881
CMBS
Schedule of Available-for-sale Securities [Line Items]
Positions Sold | Position	1	1
Par Amount Sold/Redeemed	$ 5,000	$ 5,000
Realized Gain (Loss)	(254)	(254)
Proceeds	$ 4,046	$ 4,046
RMBS
Schedule of Available-for-sale Securities [Line Items]
Positions Sold | Position	3	3
Par Amount Sold/Redeemed	$ 153,519	$ 153,519
Realized Gain (Loss)	(158)	(158)
Proceeds	$ 1,116	$ 1,116

INVESTMENTS IN UNCONSOLIDATED71

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Schedule of Unconsolidated Entities (Details) - USD ($)		1 Months Ended	3 Months Ended		9 Months Ended
		May 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Jun. 30, 2015	Jun. 24, 2015	Sep. 30, 2014
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Investments in unconsolidated entities	[1]		$ 13,916,000		$ 13,916,000		$ 87,919,000
Equity in (Losses) Earnings of Unconsolidated Entities			$ 40,358,000	$ 396,000	39,301,000	$ 4,022,000
Return on investments in unconsolidated entities					$ 49,713,000	0
RRE VIP Borrower, LLC
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Ownership % at September 30, 2017			0.00%		0.00%
Investments in unconsolidated entities			$ 0		$ 0		0
Equity in (Losses) Earnings of Unconsolidated Entities			$ 6,000	0	$ 44,000	35,000
Investment in LCC Preferred Stock
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Ownership % at September 30, 2017			0.00%		0.00%
Investments in unconsolidated entities			$ 0		$ 0		42,960,000
Equity in (Losses) Earnings of Unconsolidated Entities			$ 41,048,000	415,000	$ 41,334,000	2,759,000
Pearlmark Mezz
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Ownership % at September 30, 2017			0.00%		0.00%
Investments in unconsolidated entities			$ 0		$ 0		16,953,000
Equity in (Losses) Earnings of Unconsolidated Entities			$ 0	132,000	$ 165,000	552,000
Other commitment								$ 50,000,000	$ 50,000,000
Proceeds from sale of equity interest		$ 16,200,000
Recognized gain on sale		$ (345,000)
RCM Global LLC
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Ownership % at September 30, 2017			9.50%		9.50%
Investments in unconsolidated entities			$ 32,000		$ 32,000		465,000
Equity in (Losses) Earnings of Unconsolidated Entities			$ (61,000)	(560,000)	$ (231,000)	(160,000)
Pelium
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Ownership % at September 30, 2017			80.20%		80.20%					80.40%
Investments in unconsolidated entities			$ 12,336,000		$ 12,336,000		25,993,000
Equity in (Losses) Earnings of Unconsolidated Entities			54,000	1,045,000	(22,000)	2,765,000
Return on investments in unconsolidated entities			$ 13,600,000		$ 13,600,000
Investment in School Lane House
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Ownership % at September 30, 2017			0.00%		0.00%
Investments in unconsolidated entities			$ 0		$ 0		0
Equity in (Losses) Earnings of Unconsolidated Entities			0	0	0	(1,000)
Investments in Unconsolidated Entities
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Investments in unconsolidated entities			12,368,000		12,368,000		86,371,000
Equity in (Losses) Earnings of Unconsolidated Entities			$ 41,047,000	1,032,000	$ 41,290,000	5,950,000
Investment in RCT I and II
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Ownership % at September 30, 2017			3.00%		3.00%
Investments in unconsolidated entities			$ 1,548,000		$ 1,548,000		$ 1,548,000
Equity in (Losses) Earnings of Unconsolidated Entities			$ (689,000)	$ (636,000)	$ (1,989,000)	$ (1,928,000)
[1]	September 30, 2017December 31, 2016Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Restricted cash12,859 3,308Interest receivable3,126 3,153CRE loans, pledged as collateral and net of allowances of $838 and $763733,746 747,726Loans held for sale38 1,007Principal paydowns receivable— 5,820Investment securities available-for-sale, including securities pledged as collateral— 369Other assets9 58Total assets of consolidated VIEs$749,778 $761,441

BORROWINGS (Schedule of Debt) (

BORROWINGS (Schedule of Debt) (Details) - USD ($)		9 Months Ended	12 Months Ended
		Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Principal Outstanding		$ 1,199,322,000	$ 1,207,559,000
Unamortized Issuance Costs and Discounts		27,228,000	16,103,000
Outstanding Borrowings		$ 1,172,094,000	$ 1,191,456,000
Weighted Average Borrowing Rate		3.76%	3.67%
Weighted Average Remaining Maturity		8 years 1 month 6 days	8 years
Value of Collateral		$ 1,495,612,000	$ 1,482,399,000
Accrued interest costs	[1]	3,710,000	4,979,000
RCC 2014-CRE2 Senior Notes
Debt Instrument [Line Items]
Principal Outstanding			131,936,000
Unamortized Issuance Costs and Discounts			1,871,000
Outstanding Borrowings			$ 130,065,000
Weighted Average Borrowing Rate			2.19%
Weighted Average Remaining Maturity			15 years 3 months 18 days
Value of Collateral			$ 250,255,000
RCC 2015-CRE3 Senior Notes
Debt Instrument [Line Items]
Principal Outstanding		129,263,000	196,112,000
Unamortized Issuance Costs and Discounts		1,219,000	2,358,000
Outstanding Borrowings		$ 128,044,000	$ 193,754,000
Weighted Average Borrowing Rate		3.72%	2.82%
Weighted Average Remaining Maturity		14 years 6 months	15 years 2 months 12 days
Value of Collateral		$ 192,466,000	$ 259,889,000
RCC 2015-CRE4 Senior Notes
Debt Instrument [Line Items]
Principal Outstanding		90,883,000	158,475,000
Unamortized Issuance Costs and Discounts		1,079,000	2,193,000
Outstanding Borrowings		$ 89,804,000	$ 156,282,000
Weighted Average Borrowing Rate		3.41%	2.55%
Weighted Average Remaining Maturity		14 years 10 months 24 days	15 years 7 months 6 days
Value of Collateral		$ 180,064,000	$ 247,414,000
RCC 2017-CRE5 Senior Notes
Debt Instrument [Line Items]
Principal Outstanding		251,449,000
Unamortized Issuance Costs and Discounts		3,768,000
Outstanding Borrowings		$ 247,681,000
Weighted Average Borrowing Rate		2.26%
Weighted Average Remaining Maturity		16 years 9 months 18 days
Value of Collateral		$ 376,703,000
Unsecured Junior Subordinated Debentures
Debt Instrument [Line Items]
Principal Outstanding		51,548,000	51,548,000
Unamortized Issuance Costs and Discounts		0	0
Outstanding Borrowings		$ 51,548,000	$ 51,548,000
Weighted Average Borrowing Rate		5.25%	4.89%
Weighted Average Remaining Maturity		19 years 1 month 6 days	19 years 9 months 18 days
Value of Collateral		$ 0	$ 0
4.50% Convertible Senior Notes
Debt Instrument [Line Items]
Principal Outstanding		143,750,000
Unamortized Issuance Costs and Discounts		17,377,000
Outstanding Borrowings		$ 126,373,000
Weighted Average Borrowing Rate		4.50%
Weighted Average Remaining Maturity		4 years 10 months 24 days
Value of Collateral		$ 0
Interest rate, stated percentage		4.50%
6.00% Convertible Senior Notes
Debt Instrument [Line Items]
Principal Outstanding		$ 70,453,000	115,000,000
Unamortized Issuance Costs and Discounts		1,181,000	3,231,000
Outstanding Borrowings		$ 69,272,000	$ 111,769,000
Weighted Average Borrowing Rate		6.00%	6.00%
Weighted Average Remaining Maturity		1 year 2 months 12 days	1 year 10 months 24 days
Value of Collateral		$ 0	$ 0
Interest rate, stated percentage		6.00%
8.00% Convertible Senior Notes
Debt Instrument [Line Items]
Principal Outstanding		$ 21,182,000	100,000,000
Unamortized Issuance Costs and Discounts		523,000	3,472,000
Outstanding Borrowings		$ 20,659,000	$ 96,528,000
Weighted Average Borrowing Rate		8.00%	8.00%
Weighted Average Remaining Maturity		2 years 3 months 18 days	3 years
Value of Collateral		$ 0	$ 0
Interest rate, stated percentage		8.00%
CRE - Term Repurchase Facilities
Debt Instrument [Line Items]
Principal Outstanding		$ 241,424,000	349,318,000
Unamortized Issuance Costs and Discounts		1,433,000	2,680,000
Outstanding Borrowings		$ 239,991,000	$ 346,638,000
Weighted Average Borrowing Rate		2.70%	3.04%
Weighted Average Remaining Maturity		307 days	1 year 7 months 6 days
Value of Collateral		$ 366,095,000	$ 520,503,000
Accrued interest costs		300,000	468,000
CMBS - Term Repurchase Facilities
Debt Instrument [Line Items]
Principal Outstanding		45,480,000	78,503,000
Unamortized Issuance Costs and Discounts		0	16,000
Outstanding Borrowings		$ 45,480,000	$ 78,487,000
Weighted Average Borrowing Rate		2.98%	2.73%
Weighted Average Remaining Maturity		214 days	129 days
Value of Collateral		$ 63,060,000	$ 115,157,000
Accrued interest costs		35,000	157,000
Trust Certificates Term Repurchase Facility
Debt Instrument [Line Items]
Principal Outstanding		76,693,000	26,667,000
Unamortized Issuance Costs and Discounts		648,000	282,000
Outstanding Borrowings		$ 76,045,000	$ 26,385,000
Weighted Average Borrowing Rate		5.72%	6.21%
Weighted Average Remaining Maturity		2 years 3 months 18 days	1 year 10 months 24 days
Value of Collateral		$ 214,375,000	$ 89,181,000
Accrued interest costs		182,000	69,000
CMBS - Short Term Repurchase Agreements
Debt Instrument [Line Items]
Principal Outstanding		77,197,000
Unamortized Issuance Costs and Discounts		0
Outstanding Borrowings		$ 77,197,000
Weighted Average Borrowing Rate		2.70%
Weighted Average Remaining Maturity		78 days
Value of Collateral		$ 102,849,000
Accrued interest costs		$ 67,000	$ 0
[1]	September 30, 2017 December 31, 2016Liabilities of consolidated VIEs included in the total liabilities above: Accounts payable and other liabilities$45 $133Accrued interest expense566 519Borrowings465,531 480,103Total liabilities of consolidated VIEs$466,142 $480,755

BORROWINGS (Securitization) (De

BORROWINGS (Securitization) (Details) $ in Thousands	Sep. 30, 2017USD ($)
RCC 2015-CRE3
Debt Instrument [Line Items]
Total Note Paydowns received from Closing Date through September 30, 2017	$ 152,864
RCC 2015-CRE4 Senior Notes
Debt Instrument [Line Items]
Total Note Paydowns received from Closing Date through September 30, 2017	132,852
RCC 2017-CRE5 Senior Notes
Debt Instrument [Line Items]
Total Note Paydowns received from Closing Date through September 30, 2017	$ 0

BORROWINGS (Narrative) (Details

BORROWINGS (Narrative) (Details) $ / shares in Units, $ in Thousands	Sep. 17, 2017USD ($)	Aug. 31, 2017USD ($)$ / shares	Jul. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Long-term debt				$ 1,172,094		$ 1,172,094
Weighted average interest rate				3.76%		3.76%		3.67%
Loss on extinguishment of debt				$ 10,365	$ 0	$ 10,365	$ 0
CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Outstanding borrowings				438,713		438,713		$ 451,510
CMBS - Short-Term Repurchase Agreements | RBC Capital Markets, LLC
Debt Instrument [Line Items]
Outstanding borrowings				$ 71,311		$ 71,311		$ 0
Weighted average interest rate				2.70%		2.70%		0.00%
RCC 2017-CRE5 Senior Notes
Debt Instrument [Line Items]
Long-term debt			$ 376,700
Payments to acquire additional interest in subsidiaries			$ 75,300
Ownership percentage in VIE			100.00%
Weighted average interest rate				2.26%		2.26%
RCC 2017-CRE5 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Outstanding borrowings			$ 251,400
RCC 2017-CRE5 Senior Notes | Senior Notes | Class C Notes
Debt Instrument [Line Items]
Outstanding borrowings			$ 49,900
Face amount, percentage purchased			100.00%
Payments to acquire notes receivable			$ 49,900
RCC 2017-CRE5 Senior Notes | Senior Notes | Class C Notes | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate			3.50%
RCC 2017-CRE5 Senior Notes | Senior Notes | Class A Notes
Debt Instrument [Line Items]
Outstanding borrowings			$ 203,400
RCC 2017-CRE5 Senior Notes | Senior Notes | Class A Notes | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate			0.80%
RCC 2017-CRE5 Senior Notes | Senior Notes | Class B Notes
Debt Instrument [Line Items]
Outstanding borrowings			$ 48,000
RCC 2017-CRE5 Senior Notes | Senior Notes | Class B Notes | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate			2.00%
RCC 2017-CRE5 Senior Notes | Senior Notes | Class A And B Notes
Debt Instrument [Line Items]
Weighted average interest rate				2.26%		2.26%
Senior Notes | 4.50% Convertible Senior Notes
Debt Instrument [Line Items]
Outstanding borrowings		$ 143,800
Interest rate, stated percentage		4.50%
Unamortized discount		$ 14,200
Conversion rate (per $1,000 principal amount)		78.2473
Conversion price (in dollars per share) | $ / shares		$ 12.78
Senior Notes | 6% and 8% Convertible Senior Notes
Debt Instrument [Line Items]
Repayments of senior debt		$ 3,900
Proceeds from issuance of senior long-term debt		$ 13,500
Senior Notes | 6.00% Convertible Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage		6.00%
Extinguishment of debt, amount		$ 44,500
Loss on extinguishment of debt		$ 381
Aggregate principal amount outstanding				$ 70,500		$ 70,500		$ 115,000
Senior Notes | 8.00% Convertible Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage		8.00%
Extinguishment of debt, amount		$ 78,800
Loss on extinguishment of debt		$ 836
Aggregate principal amount outstanding				$ 21,200		$ 21,200		$ 100,000
RSO Repo SPE Trust 2017 | Trust Certificates Term Repurchase Facility
Debt Instrument [Line Items]
Outstanding borrowings	$ 49,900
Debt instrument, term	3 years
RSO Repo SPE Trust 2017 | Trust Certificates Term Repurchase Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	3.95%

BORROWINGS (Repurchase and Mort

BORROWINGS (Repurchase and Mortgage Finance Facilities) (Details)	Sep. 30, 2017USD ($)Loan	Dec. 31, 2016USD ($)Loan
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.76%	3.67%
Unamortized issuance costs and discounts	$ 27,228,000	$ 16,103,000
CRE - Term Repurchase Facilities
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.70%	3.04%
Unamortized issuance costs and discounts	$ 1,433,000	$ 2,680,000
CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Outstanding Borrowings	438,713,000	451,510,000
Value of Collateral	746,379,000	724,841,000
Wells Fargo Bank | RCC Real Estate | CRE - Term Repurchase Facilities
Debt Instrument [Line Items]
Unamortized issuance costs and discounts	822,000	1,600,000
JP Morgan Securities, LLC | CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Outstanding Borrowings	5,886,000	0
Value of Collateral	$ 8,167,000	$ 0
Number of Positions as Collateral | Loan	2	0
Weighted Average Interest Rate	2.63%	0.00%
RBC Capital Markets, LLC | CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Outstanding Borrowings	$ 71,311,000	$ 0
Value of Collateral	$ 94,682,000	$ 0
Number of Positions as Collateral | Loan	4	0
Weighted Average Interest Rate	2.70%	0.00%
CMBS - Term Repurchase Facilities | Wells Fargo Bank | CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Outstanding Borrowings	$ 19,272,000	$ 22,506,000
Value of Collateral	$ 24,361,000	$ 28,514,000
Number of Positions as Collateral | Loan	12	13
Weighted Average Interest Rate	2.46%	1.96%
CMBS - Term Repurchase Facilities | Deutsche Bank | CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Outstanding Borrowings	$ 26,208,000	$ 55,981,000
Value of Collateral	$ 38,699,000	$ 86,643,000
Number of Positions as Collateral | Loan	18	23
Weighted Average Interest Rate	3.37%	3.04%
Unamortized issuance costs and discounts	$ 0	$ 16,000
CMBS - Term Repurchase Facilities | JP Morgan Securities, LLC | CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Outstanding Borrowings		0
CRE - Term Repurchase Facilities | Wells Fargo Bank | CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Outstanding Borrowings	177,832,000	215,283,000
Value of Collateral	$ 274,693,000	$ 313,126,000
Number of Positions as Collateral | Loan	16	16
Weighted Average Interest Rate	3.48%	2.86%
CRE - Term Repurchase Facilities | Morgan Stanley Bank | CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Outstanding Borrowings	$ 62,159,000	$ 131,355,000
Value of Collateral	$ 91,402,000	$ 207,377,000
Number of Positions as Collateral | Loan	5	11
Weighted Average Interest Rate	3.85%	3.34%
Unamortized issuance costs and discounts	$ 611,000	$ 1,100,000
CRE - Term Repurchase Facilities | RSO Repo SPE Trust 2015 | CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Unamortized issuance costs and discounts	170,000	282,000
CRE - Term Repurchase Facilities | RSO Repo SPE Trust 2017 | CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Unamortized issuance costs and discounts	350,000	0
Trust Certificates Term Repurchase Facilities | RSO Repo SPE Trust 2015 | CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Outstanding Borrowings	26,502,000	26,385,000
Value of Collateral	$ 89,121,000	$ 89,181,000
Number of Positions as Collateral | Loan	2	2
Weighted Average Interest Rate	6.73%	6.21%
Trust Certificates Term Repurchase Facilities | RSO Repo SPE Trust 2017 | CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Outstanding Borrowings	$ 49,543,000	$ 0
Value of Collateral	$ 125,254,000	$ 0
Number of Positions as Collateral | Loan	2	0
Weighted Average Interest Rate	5.18%	0.00%

BORROWINGS (Amount at Risk Unde

BORROWINGS (Amount at Risk Under Repurchase Facilities) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Weighted Average Remaining Maturity	8 years 1 month 6 days	8 years
Weighted Average Interest Rate	3.76%	3.67%
RBC Capital Markets, LLC | CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.70%	0.00%
JP Morgan Securities, LLC | CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.63%	0.00%
CMBS - Term Repurchase Facilities
Debt Instrument [Line Items]
Weighted Average Remaining Maturity	214 days	129 days
Weighted Average Interest Rate	2.98%	2.73%
CRE - Term Repurchase Facilities
Debt Instrument [Line Items]
Weighted Average Remaining Maturity	307 days	1 year 7 months 6 days
Weighted Average Interest Rate	2.70%	3.04%
Trust Certificates Term Repurchase Facilities
Debt Instrument [Line Items]
Weighted Average Remaining Maturity	2 years 3 months 18 days	1 year 10 months 24 days
Weighted Average Interest Rate	5.72%	6.21%
Linked and Non-linked Transactions | RBC Capital Markets, LLC | CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Amount at Risk	$ 23,520
Weighted Average Remaining Maturity	83 days
Weighted Average Interest Rate	2.70%
Linked and Non-linked Transactions | JP Morgan Securities, LLC | CMBS - Short-Term Repurchase Agreements
Debt Instrument [Line Items]
Amount at Risk	$ 2,295
Weighted Average Remaining Maturity	15 days
Weighted Average Interest Rate	2.63%
Linked and Non-linked Transactions | CMBS - Term Repurchase Facilities | Wells Fargo Bank, National Association
Debt Instrument [Line Items]
Amount at Risk	$ 5,130
Weighted Average Remaining Maturity	182 days
Weighted Average Interest Rate	2.46%
Linked and Non-linked Transactions | CMBS - Term Repurchase Facilities | Deutsche Bank AG
Debt Instrument [Line Items]
Amount at Risk	$ 12,636
Weighted Average Remaining Maturity	237 days
Weighted Average Interest Rate	3.37%
Linked and Non-linked Transactions | CRE - Term Repurchase Facilities | Wells Fargo Bank, National Association
Debt Instrument [Line Items]
Amount at Risk	$ 97,116
Weighted Average Remaining Maturity	294 days
Weighted Average Interest Rate	3.48%
Linked and Non-linked Transactions | CRE - Term Repurchase Facilities | Morgan Stanley Bank, National Association
Debt Instrument [Line Items]
Amount at Risk	$ 29,224
Weighted Average Remaining Maturity	345 days
Weighted Average Interest Rate	3.85%
Linked and Non-linked Transactions | Trust Certificates Term Repurchase Facilities | RSO Repo SPE Trust 2015
Debt Instrument [Line Items]
Amount at Risk	$ 62,515
Weighted Average Remaining Maturity	1 year 1 month 6 days
Weighted Average Interest Rate	6.73%
Linked and Non-linked Transactions | Trust Certificates Term Repurchase Facilities | RSO Repo SPE Trust 2017
Debt Instrument [Line Items]
Amount at Risk	$ 75,331
Weighted Average Remaining Maturity	3 years
Weighted Average Interest Rate	5.18%

BORROWINGS (Contractual Commitm

BORROWINGS (Contractual Commitments) (Details) $ in Thousands	Sep. 30, 2017USD ($)
Debt Instrument [Line Items]
Total	$ 1,172,094
2,017	43,750
2,018	414,692
2,019	0
2,020	70,202
2021 and Thereafter	643,450
CRE securitizations
Debt Instrument [Line Items]
Total	465,529
2,017	0
2,018	0
2,019	0
2,020	0
2021 and Thereafter	465,529
Repurchase and credit facilities
Debt Instrument [Line Items]
Total	438,713
2,017	43,750
2,018	345,420
2,019	0
2,020	49,543
2021 and Thereafter	0
Unsecured Junior Subordinated Debentures
Debt Instrument [Line Items]
Total	51,548
2,017	0
2,018	0
2,019	0
2,020	0
2021 and Thereafter	51,548
Convertible Debt | 4.50% Convertible Senior Notes
Debt Instrument [Line Items]
Total	126,373
2,017	0
2,018	0
2,019	0
2,020	0
2021 and Thereafter	126,373
Convertible Debt | 6.00% Convertible Senior Notes
Debt Instrument [Line Items]
Total	69,272
2,017	0
2,018	69,272
2,019	0
2,020	0
2021 and Thereafter	0
Convertible Debt | 8.00% Convertible Senior Notes
Debt Instrument [Line Items]
Total	20,659
2,017	0
2,018	0
2,019	0
2,020	20,659
2021 and Thereafter	$ 0

SHARE ISSUANCE AND REPURCHASE (

SHARE ISSUANCE AND REPURCHASE (Narrative) (Details) - USD ($)	9 Months Ended	12 Months Ended	17 Months Ended
	Sep. 30, 2017	Dec. 31, 2016	Dec. 31, 2016	Mar. 31, 2016	Aug. 03, 2015	Mar. 21, 2013
Class of Stock [Line Items]
Treasury stock, (in shares)	0
Equity and Debt Securities Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, authorized amount (up to)				$ 50,000,000	$ 50,000,000
Treasury stock, value			$ 35,200,000
Treasury stock, (in shares)			2,800,000
Outstanding shares, stock acquired, percentage			8.30%
Stock repurchase program, remaining authorized repurchase amount	$ 44,900,000
8.50% Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25	$ 25
Preferred Shares - Series B
Class of Stock [Line Items]
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25	$ 25
Treasury stock, (in shares)	0
Preferred Shares - Series B | Equity and Debt Securities Repurchase Program
Class of Stock [Line Items]
Treasury stock, value		$ 3,100,000
Treasury stock, (in shares)			196,000
Outstanding shares, stock acquired, percentage		3.40%
Preferred Shares - Series C
Class of Stock [Line Items]
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25	$ 25
Common Stock | Dividend Reinvestment Plan March 21 2013
Class of Stock [Line Items]
Shares authorized for dividend reinvestment plan (in shares)						5,000,000

SHARE-BASED COMPENSATION (Commo

SHARE-BASED COMPENSATION (Common Stock Activity) (Details)	9 Months Ended
	Sep. 30, 2017shares
Restricted Stock | January 25, 2017 | 2007 Omnibus Equity Compensation Plan
Restricted common stock transactions
Stock based compensation (in shares)	333,808
Vesting per Year	33.30%
Restricted Stock | February 1, 2017 | 2007 Omnibus Equity Compensation Plan
Restricted common stock transactions
Stock based compensation (in shares)	4,242
Vesting per Year	100.00%
Restricted Stock | March 8, 2017 | 2007 Omnibus Equity Compensation Plan
Restricted common stock transactions
Stock based compensation (in shares)	18,450
Vesting per Year	100.00%
Restricted Stock | March 13, 2017 | 2007 Omnibus Equity Compensation Plan
Restricted common stock transactions
Stock based compensation (in shares)	4,299
Vesting per Year	100.00%
Restricted Stock | June 1, 2017 | 2007 Omnibus Equity Compensation Plan
Restricted common stock transactions
Stock based compensation (in shares)	3,575
Vesting per Year	100.00%
Restricted Stock | June 6, 2017 | 2007 Omnibus Equity Compensation Plan
Restricted common stock transactions
Stock based compensation (in shares)	3,680
Vesting per Year	100.00%
Restricted Stock | September 29, 2017 | 2007 Omnibus Equity Compensation Plan
Restricted common stock transactions
Stock based compensation (in shares)	3,246
Vesting per Year	100.00%
Non-Employee Directors
Restricted common stock transactions
Unvested shares, beginning of period (in shares)	27,320
Issued (shares)	37,492
Vested (shares)	(25,948)
Forfeited (shares)	(4,299)
Unvested shares, end of period (in shares)	34,565
Non-Employees
Restricted common stock transactions
Unvested shares, beginning of period (in shares)	301,486
Issued (shares)	321,789
Vested (shares)	(179,087)
Forfeited (shares)	(20,902)
Unvested shares, end of period (in shares)	423,286
Employees
Restricted common stock transactions
Unvested shares, beginning of period (in shares)	71,244
Issued (shares)	12,019
Vested (shares)	(37,163)
Forfeited (shares)	(1,412)
Unvested shares, end of period (in shares)	44,688
Manager and Non Employees
Restricted common stock transactions
Unvested shares, beginning of period (in shares)	400,050
Issued (shares)	371,300
Vested (shares)	(242,198)
Forfeited (shares)	(26,613)
Unvested shares, end of period (in shares)	502,539

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017USD ($)shares	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Directorshares	Sep. 30, 2016USD ($)Directorshares	Dec. 31, 2016USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued pursuant to the management agreement (in shares) | shares	51,300		51,468
Value of shares issued pursuant to the management agreement	$ 539,000		$ 539,000
Incentive management fee pursuant to the management agreement		$ 0		$ 0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated fair value of shares granted			$ 2,700,000	$ 2,300,000
Restricted Stock | Non-Employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of non employee directors granted shares | Director			8	8
Payment award, grant date fair value			$ 325,000	$ 290,000
Restricted Stock | Manager and Non Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost not yet recognized	$ 2,200,000		$ 2,200,000		$ 891,000
Weighted average remaining contractual term			2 years 2 months 5 days		2 years 6 months 19 days
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares) | shares			0	0
Contractual term			10 years

SHARE-BASED COMPENSATION (Statu

SHARE-BASED COMPENSATION (Status of Vested Stock Options) (Details) - Vested $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)$ / sharesshares
Number of Options
Outstanding beginning of period (in shares) | shares	26,250
Vested (in shares) | shares	0
Exercised (in shares) | shares	0
Forfeited (in shares) | shares	0
Expired (in shares) | shares	(16,250)
Outstanding end of period (in shares) | shares	10,000
Weighted Average Exercise Price
Outstanding beginning of period (in dollars per share) | $ / shares	$ 46.60
Vested (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	0
Forfeited (usd per share) | $ / shares	0
Expired (in shares) | $ / shares	59.52
Outstanding end of period (in dollars per share) | $ / shares	$ 25.60
Weighted Average Remaining Contractual Term	3 years 7 months 17 days
Aggregate Intrinsic Value | $	$ 0

SHARE-BASED COMPENSATION (Compo

SHARE-BASED COMPENSATION (Components of Equity Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity compensation expense	$ 895	$ 1,703	$ 2,417	$ 3,544
Manager and Non Employees | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity compensation expense	817	1,639	2,207	3,352
Non-Employee Directors | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity compensation expense	$ 78	$ 64	$ 210	$ 192

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income from continuing operations	$ 24,745	$ (34,300)	$ 46,487	$ (14,540)
Net income allocated to preferred shares	(6,014)	(6,015)	(18,043)	(18,077)
Carrying value in excess of consideration paid for preferred shares	0	0	0	1,500
Net loss allocable to non-controlling interest, net of taxes	0	63	196	213
Net income from continuing operations allocable to common shares	18,731	(40,252)	28,640	(30,904)
Net loss from discontinued operations, net of tax	(6,087)	(11,321)	(10,832)	(12,532)
Net income (loss) allocable to common shares	$ 12,644	$ (51,573)	$ 17,808	$ (43,436)
Basic:
Weighted average number of shares outstanding (in shares)	30,857,232	30,528,368	30,810,259	30,513,131
Continuing operations (in dollars per share)	$ 0.61	$ (1.32)	$ 0.93	$ (1.01)
Discontinued operations (in dollars per share)	(0.20)	(0.37)	(0.35)	(0.41)
Basic net income (loss) per share (in dollars per share)	$ 0.41	$ (1.69)	$ 0.58	$ (1.42)
Diluted:
Weighted average number of shares outstanding (in shares)	30,857,232	30,528,368	30,810,259	30,513,131
Additional shares due to assumed conversion of dilutive instruments (in shares)	257,920	0	206,849	0
Adjusted weighted-average number of common shares outstanding (in shares)	31,115,152	30,528,368	31,017,108	30,513,131
Continuing operations (in dollars per share)	$ 0.61	$ (1.32)	$ 0.92	$ (1.01)
Discontinued operations (in dollars per share)	(0.20)	(0.37)	(0.35)	(0.41)
Diluted net income (loss) per share (in dollars per share)	$ 0.41	$ (1.69)	$ 0.57	$ (1.42)
6.00% Convertible Senior Notes
Diluted:
Interest rate, stated percentage	6.00%		6.00%
8.00% Convertible Senior Notes
Diluted:
Interest rate, stated percentage	8.00%		8.00%
4.50% Convertible Senior Notes
Diluted:
Interest rate, stated percentage	4.50%		4.50%
6%, 8% and 4.5% Convertible Senior Notes
Diluted:
Antidilutive securities excluded (in shares)	12,215,259	9,002,864	10,085,439	9,002,864

ACCUMULATED OTHER COMPREHENSI84

ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, January 1, 2017	$ 3,081
Other comprehensive income (loss) before reclassifications	(2,956)
Amounts reclassified from accumulated other comprehensive income	1,359
Balance, September 30, 2017	1,484
Net unrealized (loss) gain on derivatives
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, January 1, 2017	(18)
Other comprehensive income (loss) before reclassifications	211
Amounts reclassified from accumulated other comprehensive income	17
Balance, September 30, 2017	210
Net unrealized (loss) gain on securities, available-for-sale
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, January 1, 2017	3,099
Other comprehensive income (loss) before reclassifications	(3,167)
Amounts reclassified from accumulated other comprehensive income	1,342
Balance, September 30, 2017	$ 1,274

RELATED PARTY TRANSACTIONS (Rel

RELATED PARTY TRANSACTIONS (Relationship with C-III and Certain of their Subsidiaries) (Details)		Nov. 07, 2013USD ($)shares	Sep. 30, 2017USD ($)Transaction	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Transaction	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Sep. 08, 2016shares	May 22, 2016USD ($)	Nov. 24, 2010USD ($)
Related Party Transaction [Line Items]
Base management fees paid by the Company			$ 4,924,000	$ 3,053,000	$ 10,242,000	$ 10,189,000
Incentive management fee pursuant to the management agreement				0		0
Value of shares issued pursuant to the management agreement			539,000		539,000
General and administrative			4,336,000	3,507,000	11,780,000	10,960,000
Investment securities, trading	[1]		162,000		162,000		$ 4,492,000
Sale (purchase) of and principal payments on securities, trading, net					(4,493,000)	(229,000)
Investments in unconsolidated entities	[1]		13,916,000		13,916,000		87,919,000
Elevation Home Loans, LLC
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 (in shares) | shares		34,165
C-III Asset Management LLC | Resource Capital Corp
Related Party Transaction [Line Items]
Number of common shares of the Company owned by a related party (in shares) | shares								715,396
Ownership percentage								2.30%
Resource America | Resource Capital Corp
Related Party Transaction [Line Items]
Due from related parties									$ 1,500,000
Manager pursuant to the Management Agreement | Resource Capital Corp
Related Party Transaction [Line Items]
Base management fees paid by the Company			2,700,000	2,900,000	8,000,000	9,800,000
Incentive management fees			$ 2,200,000		$ 2,200,000	0	0
Cash awards, percentage			75.00%		75.00%
Incentive management fee pursuant to the management agreement			$ 1,600,000		$ 1,600,000
Common stock awards, percentage			25.00%		25.00%
Value of shares issued pursuant to the management agreement			$ 539,000		$ 539,000
General and administrative			1,200,000	1,400,000	4,200,000	4,000,000
Investment maximum										$ 13,000,000
Management fee as a percentage of net profits in excess of preferred return										20.00%
Total indebtedness			3,100,000		3,100,000		1,400,000
Accrued base management fees			908,000		908,000		1,300,000
Accrued incentive management fees			2,200,000		2,200,000
Expense reimbursement payable			47,000		47,000		35,000
Oversight fee, management fees			$ 63,000		$ 63,000		138,000
Number of executed CDO transactions | Transaction			6		6
Number of liquidated CDO transactions | Transaction			3		3
Manager pursuant to the Management Agreement | Investor Relations Officer
Related Party Transaction [Line Items]
Responsibility percentage of salary			50.00%		50.00%
Resource Capital Markets, Inc. | Resource Capital Corp
Related Party Transaction [Line Items]
Base management fees paid by the Company			$ 0	0	$ 0	0
Expense reimbursements			0	$ 1,000		$ 9,000
Total indebtedness			$ 17,000		$ 17,000		$ 216,000
[1]	September 30, 2017December 31, 2016Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Restricted cash12,859 3,308Interest receivable3,126 3,153CRE loans, pledged as collateral and net of allowances of $838 and $763733,746 747,726Loans held for sale38 1,007Principal paydowns receivable— 5,820Investment securities available-for-sale, including securities pledged as collateral— 369Other assets9 58Total assets of consolidated VIEs$749,778 $761,441

RELATED PARTY TRANSACTIONS (R86

RELATED PARTY TRANSACTIONS (Relationship with LEAF Financial) (Details) - USD ($)		Jul. 31, 2017	Jul. 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Related Party Transaction [Line Items]
Provision for loan and lease losses				$ (612,000)	$ 7,562,000	$ 518,000	$ 7,639,000
Direct financing leases, net of allowances	[1]			167,000		167,000		$ 527,000
Income from equity method investments				40,358,000	396,000	39,301,000	4,022,000
Investments in unconsolidated entities	[1]			13,916,000		13,916,000		87,919,000
VIE, Not Primary Beneficiary | LCC
Related Party Transaction [Line Items]
Proceeds from sale of equity interest		$ 84,300,000	$ 84,300,000
Investment in LCC Preferred Stock
Related Party Transaction [Line Items]
Income from equity method investments				41,048,000	$ 415,000	41,334,000	2,759,000
Investments in unconsolidated entities				$ 0		$ 0		$ 42,960,000
Lease Equity Appreciation Fund II | Resource Capital Corp | Loans Receivable-Related Party
Related Party Transaction [Line Items]
Provision for loan and lease losses							$ 0
[1]	September 30, 2017December 31, 2016Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Restricted cash12,859 3,308Interest receivable3,126 3,153CRE loans, pledged as collateral and net of allowances of $838 and $763733,746 747,726Loans held for sale38 1,007Principal paydowns receivable— 5,820Investment securities available-for-sale, including securities pledged as collateral— 369Other assets9 58Total assets of consolidated VIEs$749,778 $761,441

RELATED PARTY TRANSACTIONS (R87

RELATED PARTY TRANSACTIONS (Relationship with CVC Credit Partners, LLC) (Details)		Feb. 24, 2011USD ($)	May 31, 2013	Oct. 31, 2012Entity	Sep. 30, 2017USD ($)Entity	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Entity	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Feb. 28, 2011Entity
Related Party Transaction [Line Items]
Number of CLO issuers (in entities) | Entity				1	5		5			5
Intangible assets	[1]				$ 0		$ 0		$ 213,000
Investment in RCAM, Investment Two
Related Party Transaction [Line Items]
Impairment of intangible assets							177,000	$ 3,700,000
Management Contracts
Related Party Transaction [Line Items]
Intangible assets					$ 0		$ 0		$ 213,000
Whitney CLO I
Related Party Transaction [Line Items]
Ownership percentage in VIE			68.30%
Resource Capital Corp
Related Party Transaction [Line Items]
Preferred equity interest acquired				66.60%
CVC Capital Partners | Resource America
Related Party Transaction [Line Items]
Ownership percentage					24.00%		24.00%
CVC Capital Partners | Apidos Capital Management LLC
Related Party Transaction [Line Items]
Percentage of subordinated fees the company is entitled to collect (in hundredths)					10.00%		10.00%
Percentage of incentive fees the company is entitled to collect (in hundredths)					50.00%		50.00%
Subordinated fees received					$ 53,000	$ 254,000	$ 1,400,000	$ 561,000
Churchill Pacific Asset Management LLC
Related Party Transaction [Line Items]
Assets under management, carrying amount					$ 1,900,000,000		$ 1,900,000,000
Churchill Pacific Asset Management LLC | Resource Capital Corp
Related Party Transaction [Line Items]
Ownership percentage		100.00%
Purchase price of acquired entity paid by acquiring entity		$ 22,500,000
[1]	September 30, 2017December 31, 2016Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Restricted cash12,859 3,308Interest receivable3,126 3,153CRE loans, pledged as collateral and net of allowances of $838 and $763733,746 747,726Loans held for sale38 1,007Principal paydowns receivable— 5,820Investment securities available-for-sale, including securities pledged as collateral— 369Other assets9 58Total assets of consolidated VIEs$749,778 $761,441

RELATED PARTY TRANSACTIONS (R88

RELATED PARTY TRANSACTIONS (Relationship with Long Term Care Conversion Funding) (Details) - Manager pursuant to the Management Agreement - USD ($)	1 Months Ended
	Dec. 31, 2016	Mar. 31, 2015	Dec. 31, 2012
Related Party Transaction [Line Items]
Expense reimbursements, annual fee	$ 250,000		$ 550,000
Expense reimbursements, annual fee, term	1 year	2 years	2 years

RELATED PARTY TRANSACTIONS (R89

RELATED PARTY TRANSACTIONS (Relationship with Resource Real Estate) (Details)	Feb. 01, 2015USD ($)	Jul. 30, 2014USD ($)	Dec. 01, 2009USD ($)	Aug. 31, 2017USD ($)	Jul. 31, 2017USD ($)	May 31, 2017USD ($)	Jun. 30, 2016	Aug. 31, 2015USD ($)	Feb. 28, 2015USD ($)	Sep. 30, 2014USD ($)	Jul. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Sep. 30, 2017USD ($)Transaction	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Transaction	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2016USD ($)	Sep. 08, 2016	Jun. 30, 2015USD ($)	Jun. 24, 2015USD ($)
Related Party Transaction [Line Items]
Base management fees paid by the Company													$ 4,924,000	$ 3,053,000	$ 10,242,000	$ 10,189,000
Income from equity method investments													$ 40,358,000	396,000	$ 39,301,000	4,022,000
Number of real estate securitization transactions | Transaction													5		5
Placement agent fee		$ 175,000										$ 205,000
Proceeds from the sale of an investment in unconsolidated entity															$ 16,159,000	0
Equity in earnings (losses) of unconsolidated entities													$ 41,047,000	1,032,000	41,290,000	5,950,000
Proceeds from partial redemption															49,713,000	0
RCC CRE Notes 2013 Senior Notes
Related Party Transaction [Line Items]
Closing transaction amount												$ 307,800,000
Servicing fee rate												0.25%
RCC 2014-CRE2 Senior Notes
Related Party Transaction [Line Items]
Closing transaction amount		$ 353,900,000
RCC 2015-CRE3
Related Party Transaction [Line Items]
Closing transaction amount									$ 346,200,000
Placement agent fee									100,000
RCC 2015-CRE4
Related Party Transaction [Line Items]
Closing transaction amount								$ 312,900,000
Placement agent fee								$ 85,000
RCC 2017-CRE5
Related Party Transaction [Line Items]
Closing transaction amount					$ 376,700,000
Placement agent fee					$ 0
RRE VIP Borrower, LLC
Related Party Transaction [Line Items]
Acquisition of membership interests			$ 2,100,000
Income from equity method investments													$ 6,000	0	$ 44,000	35,000
Ownership percentage													0.00%		0.00%
RCC Residential, Inc.
Related Party Transaction [Line Items]
Acquisition of membership interests											$ 15,000,000
Equity in earnings (losses) of unconsolidated entities													$ (61,000)	(560,000)	$ (231,000)	(160,000)
Ownership percentage											63.80%
Pelium
Related Party Transaction [Line Items]
Acquisition of membership interests										$ 17,500,000
Income from equity method investments													54,000	1,045,000	(22,000)	2,765,000
Equity in earnings (losses) of unconsolidated entities													54,000	1,000,000	(22,000)	2,800,000
Payments to acquire additional interest in subsidiaries	$ 2,500,000								$ 2,500,000
Ownership interest										10.00%
Proceeds from partial redemption													13,600,000		13,600,000
Equity method investments													$ 12,300,000		$ 12,300,000			$ 26,000,000
Ownership percentage										80.40%			80.20%		80.20%
Pearlmark Mezz
Related Party Transaction [Line Items]
Income from equity method investments													$ 0	132,000	$ 165,000	552,000
Ownership percentage													0.00%		0.00%
Other commitment (up to)																				$ 50,000,000	$ 50,000,000
Property, management fee, percent fee							1.00%
Management fee, invested capital, percent fee							1.50%
Rebate, percentage							25.00%
Proceeds from sale of equity interest						$ 16,200,000
Recognized loss on sale						$ 345,000
RCC Residential, Inc. | RCM Global LLC
Related Party Transaction [Line Items]
Ownership percentage in VIE											63.80%				9.50%
Gain on sale of investments																	$ 5,000,000
Proceeds from the sale of an investment in unconsolidated entity															$ 145,000
Resource America
Related Party Transaction [Line Items]
Payments to acquire additional interest in subsidiaries										$ 2,800,000
Resource America | Pelium
Related Party Transaction [Line Items]
Payments to acquire additional interest in subsidiaries										$ 2,800,000
C-III Asset Management LLC | RCC 2017-CRE5 | Asset Management Agreement
Related Party Transaction [Line Items]
Servicing fee rate												0.05%
Servicing fees earned													$ 40,000		40,000
Servicing fees payable													13,000		13,000
C-III Asset Management LLC | Resource Capital Corp
Related Party Transaction [Line Items]
Ownership percentage																			2.30%
Resource Real Estate | RCC 2014-CRE2 Senior Notes
Related Party Transaction [Line Items]
Amount of loan balance transferred				$ 93,000,000
Resource Real Estate | Commercial Real Estate Debt Investments
Related Party Transaction [Line Items]
Related party transaction, due from related party													0		0			50,000
Resource Real Estate | Resource Capital Corp
Related Party Transaction [Line Items]
Total indebtedness													$ 703,000		$ 703,000			$ 899,000
Resource Real Estate Management, LLC | RRE VIP Borrower, LLC
Related Party Transaction [Line Items]
Asset management fees percentage													1.00%		1.00%
Base management fees paid by the Company													$ 0	$ 0	$ 0	$ 0
Resource America | Pearlmark Mezz
Related Party Transaction [Line Items]
Ownership percentage in VIE							50.00%

DISTRIBUTIONS Narrative (Detail

DISTRIBUTIONS Narrative (Details) - $ / shares	3 Months Ended							9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2017
Class of Stock [Line Items]
REIT required taxable income distribution, percentage (at least)								90.00%
REIT taxable income distribution for exempt federal income taxes, percentage								100.00%
Common Stock
Class of Stock [Line Items]
Dividend Per Share (in dollars per share)	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.42	$ 0.42	$ 0.42

DISTRIBUTIONS Dividends Declare

DISTRIBUTIONS Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016
Common Stock
Class of Stock [Line Items]
Total Dividend Paid	$ 1,566	$ 1,567	$ 1,568	$ 1,550	$ 13,012	$ 13,051	$ 13,073
Dividend Per Share (in dollars per share)	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.42	$ 0.42	$ 0.42
Preferred Shares - Series A
Class of Stock [Line Items]
Total Dividend Paid	$ 568	$ 568	$ 568	$ 568	$ 568	$ 568	$ 568
Dividend Per Share (in dollars per share)	$ 0.531250	$ 0.53125	$ 0.53125	$ 0.53125	$ 0.53125	$ 0.53125	$ 0.53125
Preferred Shares - Series B
Class of Stock [Line Items]
Total Dividend Paid	$ 2,859	$ 2,859	$ 2,859	$ 2,859	$ 2,859	$ 2,859	$ 2,859
Dividend Per Share (in dollars per share)	$ 0.515625	$ 0.515625	$ 0.515625	$ 0.515625	$ 0.515625	$ 0.515625	$ 0.515625
Preferred Shares - Series C
Class of Stock [Line Items]
Total Dividend Paid	$ 2,588	$ 2,588	$ 2,588	$ 2,588	$ 2,588	$ 2,588	$ 2,588
Dividend Per Share (in dollars per share)	$ 0.539063	$ 0.539063	$ 0.539063	$ 0.539063	$ 0.539063	$ 0.539063	$ 0.539063

FAIR VALUE OF FINANCIAL INSTR92

FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Assets:
Investment securities, trading	[1]	$ 162	$ 4,492
Investment securities available-for-sale		189,173	124,968
Derivatives	[1]	235	647
Recurring Basis
Assets:
Investment securities, trading		162	4,492
Investment securities available-for-sale		189,173	124,968
Loans held for sale		38	1,007
Derivatives		235	647
Total assets at fair value		189,608	131,114
Liabilities:
Derivatives		229	97
Total liabilities at fair value		229	97
Recurring Basis | Level 1
Assets:
Investment securities, trading		0	0
Investment securities available-for-sale		0	0
Loans held for sale		0	0
Derivatives		0	0
Total assets at fair value		0	0
Liabilities:
Derivatives		0	0
Total liabilities at fair value		0	0
Recurring Basis | Level 2
Assets:
Investment securities, trading		0	369
Investment securities available-for-sale		0	0
Loans held for sale		1	787
Derivatives		235	647
Total assets at fair value		236	1,803
Liabilities:
Derivatives		229	97
Total liabilities at fair value		229	97
Recurring Basis | Level 3
Assets:
Investment securities, trading		162	4,123
Investment securities available-for-sale		189,173	124,968
Loans held for sale		37	220
Derivatives		0	0
Total assets at fair value		189,372	129,311
Liabilities:
Derivatives		0	0
Total liabilities at fair value		$ 0	$ 0
[1]	September 30, 2017December 31, 2016Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Restricted cash12,859 3,308Interest receivable3,126 3,153CRE loans, pledged as collateral and net of allowances of $838 and $763733,746 747,726Loans held for sale38 1,007Principal paydowns receivable— 5,820Investment securities available-for-sale, including securities pledged as collateral— 369Other assets9 58Total assets of consolidated VIEs$749,778 $761,441

FAIR VALUE OF FINANCIAL INSTR93

FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets Measured on Recurring and Nonrecurring Basis) (Details) - Level 3 $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance, January 1, 2017	$ 129,311
Included in earnings	1,719
Purchases	121,757
Sales	(24,903)
Paydowns	(38,133)
Capitalized interest	1,263
Included in OCI	(1,642)
Balance, September 30, 2017	189,372
CMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance, January 1, 2017	98,087
Included in earnings	0
Purchases	121,757
Sales	(4,025)
Paydowns	(30,748)
Capitalized interest	0
Included in OCI	769
Balance, September 30, 2017	185,840
ABS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance, January 1, 2017	25,280
Included in earnings	1,665
Purchases	0
Sales	(19,767)
Paydowns	(2,773)
Capitalized interest	1,263
Included in OCI	(2,335)
Balance, September 30, 2017	3,333
Structured Notes
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance, January 1, 2017	4,123
Included in earnings	154
Purchases	0
Sales	0
Paydowns	(4,115)
Capitalized interest	0
Included in OCI	0
Balance, September 30, 2017	162
Loans Held for Sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance, January 1, 2017	220
Included in earnings	58
Purchases	0
Sales	0
Paydowns	(241)
Capitalized interest	0
Included in OCI	0
Balance, September 30, 2017	37
RMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance, January 1, 2017	1,601
Included in earnings	(158)
Purchases	0
Sales	(1,111)
Paydowns	(256)
Capitalized interest	0
Included in OCI	(76)
Balance, September 30, 2017	$ 0

FAIR VALUE OF FINANCIAL INSTR94

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
6.00% Convertible Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value inputs, discount rate	7.92%
Interest rate, stated percentage	6.00%
8.00% Convertible Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value inputs, discount rate	9.65%
Interest rate, stated percentage	8.00%
4.50% Convertible Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value inputs, discount rate	7.17%
Interest rate, stated percentage	4.50%
VIE, Not Primary Beneficiary | Interest in RCT I | Unsecured Junior Subordinated Debentures | Expected Future Cash Flows
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value inputs, discount rate	11.34%
VIE, Not Primary Beneficiary | Interest in RCT II | Unsecured Junior Subordinated Debentures | Expected Future Cash Flows
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value inputs, discount rate	11.34%
Pearlmark Mezz | Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Indemnification liability	$ 703

FAIR VALUE OF FINANCIAL INSTR95

FAIR VALUE OF FINANCIAL INSTRUMENTS (Fair Value, by Balance Sheet Grouping) (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held for investment	[1]	$ 1,264,264	$ 1,286,278
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held for investment		1,264,264	1,286,278
Senior notes in CRE securitizations		465,529	480,101
Junior subordinated notes		51,548	51,548
Convertible senior notes		216,304	208,297
Repurchase agreements		438,713	451,510
Indemnification agreement		703
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held for investment		1,270,375	1,292,099
Senior notes in CRE securitizations		470,715	486,524
Junior subordinated notes		26,442	27,246
Convertible senior notes		235,385	215,000
Repurchase agreements		440,081	453,794
Indemnification agreement		703
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held for investment		0	0
Senior notes in CRE securitizations		0	0
Junior subordinated notes		0	0
Convertible senior notes		0	0
Repurchase agreements		0	0
Indemnification agreement		0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held for investment		0	0
Senior notes in CRE securitizations		0	0
Junior subordinated notes		0	0
Convertible senior notes		0	0
Repurchase agreements		0	0
Indemnification agreement		0
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held for investment		1,270,375	1,292,099
Senior notes in CRE securitizations		470,715	486,524
Junior subordinated notes		26,442	27,246
Convertible senior notes		235,385	215,000
Repurchase agreements		440,081	$ 453,794
Indemnification agreement		$ 703
[1]	September 30, 2017December 31, 2016Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Restricted cash12,859 3,308Interest receivable3,126 3,153CRE loans, pledged as collateral and net of allowances of $838 and $763733,746 747,726Loans held for sale38 1,007Principal paydowns receivable— 5,820Investment securities available-for-sale, including securities pledged as collateral— 369Other assets9 58Total assets of consolidated VIEs$749,778 $761,441

MARKET RISK AND DERIVATIVE IN96

MARKET RISK AND DERIVATIVE INSTRUMENTS (Details)	Sep. 30, 2017USD ($)Derivative	Sep. 30, 2017USD ($)Derivative	Sep. 30, 2017USD ($)Derivative	Dec. 31, 2016USD ($)Derivative
Derivatives, Fair Value [Line Items]
Derivative liability, fair value, amount not offset against collateral	$ 229,000	$ 229,000	$ 229,000	$ 97,000
Gross Amounts of Recognized Assets	$ 235,000	$ 235,000	$ 235,000	$ 647,000
Interest rate swaps
Derivatives, Fair Value [Line Items]
Number of instruments held | Derivative	6	6	6	0
Average fixed interest rate	2.06%	2.06%	2.06%
Notional amount	$ 34,300,000	$ 34,300,000	$ 34,300,000
Gain on derivatives	211,000
Unrealized losses on non-designated derivative instruments				$ 18,000
Expense to fully amortize		0	18,000
Interest rate swaps | Derivatives, at fair value
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets	$ 211,000	$ 211,000	$ 211,000

MARKET RISK AND DERIVATIVE IN97

MARKET RISK AND DERIVATIVE INSTRUMENTS (Fair Value and Classification of Derivatives) (Details) $ in Thousands, € in Millions	9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017EUR (€)	Dec. 31, 2016USD ($)	Dec. 31, 2016EUR (€)
Derivatives, Fair Value [Line Items]
Fair Value	$ 235			$ 647
Fair Value	229			97
Interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount	34,250
Notional Amount	34,250			0
Interest rate swaps | Interest expense
Derivatives, Fair Value [Line Items]
Realized and Unrealized Gain (Loss)	(53)	$ (95)
Interest rate swaps | Derivatives, at fair value
Derivatives, Fair Value [Line Items]
Fair Value	211
Interest rate swaps | Accumulated Other Comprehensive (Loss) Income
Derivatives, Fair Value [Line Items]
Fair Value	(210)			(18)
Forward contracts - foreign currency, hedging
Derivatives, Fair Value [Line Items]
Notional Amount	3,869		€ 11.1	12,489	€ 11.9
Notional Amount	13,143		€ 3.3	11,700	€ 11.1
Forward contracts - foreign currency, hedging | Net realized and unrealized (loss) gain on investment securities available-for-sale and loans and derivatives
Derivatives, Fair Value [Line Items]
Realized and Unrealized Gain (Loss)	(1,998)	$ (733)
Forward contracts - foreign currency, hedging | Derivatives, at fair value
Derivatives, Fair Value [Line Items]
Fair Value	24			647
Fair Value	$ 229			$ 97

OFFSETTING OF FINANCIAL ASSET98

OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Offsetting Derivative Assets
Gross Amounts of Recognized Assets	$ 235	$ 647
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts of Assets Included in the Consolidated Balance Sheets	235	647
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	235	647
Total-Assets
Gross Amounts of Recognized Assets	235	647
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts of Assets Included in the Consolidated Balance Sheets	235	647
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	235	647
Repurchase agreements and term facilties
Gross Amounts of Recognized Liabilities	438,713	451,510
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts of Liabilities Included in the Consolidated Balance Sheets	438,713	451,510
Gross Amounts Not Offset in the Consolidated Balance Sheets- Financial Instruments	438,713	451,510
Gross Amounts Not Offset in the Consolidated Balance Sheets- Cash Collateral Pledged	0	0
Net Amount	0	0
Offsetting Derivative Liabilities
Gross Amounts of Recognized Liabilities	229	97
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts of Liabilities Included in the Consolidated Balance Sheets	229	97
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	229	97
Total-Liabilities
Gross Amounts of Recognized Liabilities	438,942	451,607
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts of Liabilities Included in the Consolidated Balance Sheets	438,942	451,607
Gross Amounts Not Offset in the Consolidated Balance Sheets- Financial Instruments	438,713	451,510
Gross Amounts Not Offset in the Consolidated Balance Sheets- Cash Collateral Pledged	0	0
Net Amount	229	97
Fair value of securities pledged against repurchase agreements	746,400	$ 724,800
Interest rate swaps
Total-Assets
Cash margin deposits related to interest rate swap contracts	$ 1,700

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	Feb. 03, 2016Loanplantiff	May 31, 2017USD ($)	Apr. 30, 2017Claims	Apr. 30, 2017Claims	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Mar. 31, 2017Claims	Dec. 31, 2016USD ($)
Loss Contingencies [Line Items]
Estimated litigation liability					$ 1,500,000
Proceeds from sale of securities available-for-sale					33,347,000	$ 0
Pearlmark Mezz
Loss Contingencies [Line Items]
Proceeds from sale of securities available-for-sale		$ 16,200,000
Pearlmark Mezz | Indemnification Agreement
Loss Contingencies [Line Items]
Loss contingency, reserve					703,000
Pearlmark Mezz | Indemnification Agreement | Maximum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss		$ 4,300,000
Commercial Real Estate Loans
Loss Contingencies [Line Items]
Financing receivable, category of loans | Loan	2
Reaves, Caito, Simpson, And Heckel Complaints
Loss Contingencies [Line Items]
Loss contingency, new claims filed, number | Claims							6
Greenberg, Canoles, DeCaro, And Gehan Complaints
Loss Contingencies [Line Items]
Loss contingency, new claims filed, number | Claims				4
McKinney, Sherek/Speigel, And Sebenoler Complaints
Loss Contingencies [Line Items]
Loss contingency, new claims filed, number | Claims			3
PCM
Loss Contingencies [Line Items]
Estimated litigation liability					4,700,000			$ 4,800,000
Loss contingency, estimate of possible loss					11,700,000
Loss contingency, number of plaintiffs | plantiff	150
Loss contingency, reserve					$ 0

DISCONTINUED OPERATIONS AND 100

DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE (Details) - USD ($)		1 Months Ended	3 Months Ended
		Jun. 30, 2017	Sep. 30, 2017	Dec. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Collective book value of assets sold	[1]		$ 138,193,000	$ 383,455,000
Mortgage Lending Pipeline And Other Certain Assets And Liabilities | Disposal Group, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of mortgage lending pipeline and certain other assets and liabilities		$ 2,600,000
Nonrefundable earn out advance		650,000	$ 350,000
Collective book value of assets sold		$ 1,600,000
Minimum | Mortgage Lending Pipeline And Other Certain Assets And Liabilities | Disposal Group, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Term of contingent earn out provision		18 months
Maximum | Mortgage Lending Pipeline And Other Certain Assets And Liabilities | Disposal Group, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Term of contingent earn out provision		22 months
[1]	September 30, 2017December 31, 2016Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Restricted cash12,859 3,308Interest receivable3,126 3,153CRE loans, pledged as collateral and net of allowances of $838 and $763733,746 747,726Loans held for sale38 1,007Principal paydowns receivable— 5,820Investment securities available-for-sale, including securities pledged as collateral— 369Other assets9 58Total assets of consolidated VIEs$749,778 $761,441

DISCONTINUED OPERATIONS AND 101

DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE Operating results of the residential mortgage and middle market lending segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Interest income:
Loans	$ 21,953	$ 21,763	$ 65,327	$ 64,565
Other	369	742	2,464	4,275
Total interest income	23,983	27,107	73,089	82,531
Interest expense	13,853	13,653	42,454	40,401
Net interest income	10,130	13,454	30,635	42,130
Fee income (loss)	109	1,035	1,962	2,369
Total revenues	10,260	14,301	32,657	44,346
OPERATING EXPENSES
Equity compensation expense - related party	895	1,702	2,417	3,543
General and administrative	4,336	3,507	11,780	10,960
Depreciation and amortization	26	364	126	1,234
Total operating expenses	9,569	41,485	25,260	58,862
Net interest and other revenues less operating expenses	691	(27,184)	7,397	(14,516)
OTHER INCOME (EXPENSE)
Net realized gain (loss) on investment securities available-for-sale and loans	(1,465)	(475)	15,619	2,012
Fair value adjustments on financial assets held for sale	0	0	58	0
Total other income	28,518	1,823	45,028	9,534
Discontinued Operations, Held-for-sale
Interest income:
Loans	892	4,236	2,682	24,727
Other	44	27	76	43
Total interest income	936	4,263	2,758	24,770
Interest expense	0	467	0	6,181
Net interest income	936	3,796	2,758	18,589
Gain on sale of residential mortgage loans	(1,186)	6,029	5,688	15,542
Fee income (loss)	(197)	989	3,480	(944)
Total revenues	(447)	10,814	11,926	33,187
OPERATING EXPENSES
Equity compensation expense - related party	65	63	286	900
General and administrative	5,590	8,834	21,985	22,392
Depreciation and amortization	0	142	0	418
Provision for loan and lease losses, net	0	121	0	12,180
Total operating expenses	5,655	9,160	22,271	35,890
Net interest and other revenues less operating expenses	(6,102)	1,654	(10,345)	(2,703)
OTHER INCOME (EXPENSE)
Net realized gain (loss) on investment securities available-for-sale and loans	97	(9,631)	13	(9,829)
Fair value adjustments on financial assets held for sale	(82)	0	(500)	0
Total other income	15	(9,631)	(487)	(9,829)
LOSS FROM DISCONTINUED OPERATIONS BEFORE TAXES	(6,087)	(7,977)	(10,832)	(12,532)
Income tax benefit	0	(3,344)	0	0
NET LOSS FROM DISCONTINUED OPERATIONS	$ (6,087)	$ (11,321)	$ (10,832)	$ (12,532)

DISCONTINUED OPERATIONS AND 102

DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE Assets and liabilities of business segments classified as discontinued operations (Details) - USD ($)		Sep. 30, 2017	Dec. 31, 2016
ASSETS
Restricted cash	[1]	$ 14,539,000	$ 3,399,000
Interest receivable	[1]	6,679,000	6,404,000
Principal paydowns receivable	[1]	10,873,000	19,280,000
Derivatives, at fair value	[1]	235,000	647,000
Intangible assets	[1]	0	213,000
Other assets	[1]	8,436,000	14,673,000
Total assets held for sale	[1]	138,193,000	383,455,000
LIABILITIES
Accounts payable and other liabilities	[2]	4,660,000	4,480,000
Management fee payable - related party	[2]	3,062,000	1,318,000
Accrued interest expense	[2]	3,710,000	4,979,000
Borrowings	[2]	1,172,094,000	1,191,456,000
Derivatives, at fair value	[2]	229,000	97,000
Total liabilities held for sale	[2]	9,371,000	142,563,000
Life settlement contracts		6,400,000	5,800,000
Servicing Contracts
ASSETS
Intangible assets		18,100,000	14,400,000
Discontinued Operations, Held-for-sale
ASSETS
Restricted cash		139,000	145,000
Interest receivable		80,000	305,000
Principal paydowns receivable		110,669,000	346,761,000
Property available for sale		0	125,000
Derivatives, at fair value		0	3,773,000
Intangible assets		18,149,000	14,466,000
Other assets		9,156,000	17,880,000
Total assets held for sale		138,193,000	383,455,000
LIABILITIES
Accounts payable and other liabilities		9,293,000	8,404,000
Management fee payable - related party		56,000	132,000
Accrued interest expense		22,000	203,000
Borrowings		0	133,139,000
Derivatives, at fair value		0	685,000
Total liabilities held for sale		$ 9,371,000	$ 142,563,000
[1]	September 30, 2017December 31, 2016Assets of consolidated Variable Interest Entities ("VIEs") included in the total assets above: Restricted cash12,859 3,308Interest receivable3,126 3,153CRE loans, pledged as collateral and net of allowances of $838 and $763733,746 747,726Loans held for sale38 1,007Principal paydowns receivable— 5,820Investment securities available-for-sale, including securities pledged as collateral— 369Other assets9 58Total assets of consolidated VIEs$749,778 $761,441
[2]	September 30, 2017 December 31, 2016Liabilities of consolidated VIEs included in the total liabilities above: Accounts payable and other liabilities$45 $133Accrued interest expense566 519Borrowings465,531 480,103Total liabilities of consolidated VIEs$466,142 $480,755

DISCONTINUED OPERATIONS AND 103

DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE Loans held for sale in the residential mortgage and middle market lending segments (Details)	3 Months Ended			9 Months Ended
	Sep. 30, 2017USD ($)LoanTranche	Dec. 31, 2016USD ($)Loan	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)LoanTranche	Sep. 30, 2016USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair Value	$ 189,173,000	$ 124,968,000		$ 189,173,000
Impairment losses	0		$ 21,600,000	0	$ 21,600,000
Industry Grouping of Healthcare, Education and Childcare | Middle Market Loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration of loan portfolio risk		24.40%
Industry Grouping of Diversified/conglomerate Service | Middle Market Loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration of loan portfolio risk		17.20%
Industry Grouping of Insurance | Middle Market Loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration of loan portfolio risk		17.10%
Industry Grouping of Cargo Transport | Middle Market Loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration of loan portfolio risk		14.20%
Industry Grouping of Beverage, Food and Tobacco | Middle Market Loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration of loan portfolio risk		12.50%
Industry Grouping of Building and Real Estate | Middle Market Loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration of loan portfolio risk		9.80%
Industry Grouping Miscellaneous Services and Hotels, Motels, Inns and Gaming | Middle Market Loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration of loan portfolio risk		4.80%
GEORGIA | Residential mortgage loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration of loan portfolio risk		39.20%
Utah | Residential mortgage loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration of loan portfolio risk		14.60%
CALIFORNIA | Residential mortgage loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration of loan portfolio risk		16.20%
Florida | Residential mortgage loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration of loan portfolio risk		5.90%
Virginia | Residential mortgage loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration of loan portfolio risk		5.90%
RREF CDO 2006-1 Senior Notes | VIE, Not Primary Beneficiary
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Debt instrument, par value	38,100,000			38,100,000
Value of collateral	$ 0			$ 0
Number of tranches | Tranche	2			2
Legacy CRE Whole Loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of loans, appraisals | Loan	6			6
Impairment losses				$ 8,100,000
Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Quantity | Loan	38	545		38
Amortized Cost	$ 122,691,000	$ 358,714,000		$ 122,691,000
Fair Value	$ 110,669,000	$ 346,761,000		$ 110,669,000
Discontinued Operations, Held-for-sale | Legacy CRE Whole Loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Quantity | Loan	5	8		5
Amortized Cost	$ 78,459,000	$ 158,192,000		$ 78,459,000
Fair Value	$ 78,459,000	158,178,000		$ 78,459,000
Impairment losses		$ 7,700,000
Discontinued Operations, Held-for-sale | Mezzanine loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Quantity | Loan	1	1		1
Amortized Cost	$ 0	$ 0		$ 0
Fair Value	$ 0	$ 0		$ 0
Discontinued Operations, Held-for-sale | Middle Market Loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Quantity | Loan	5	7		5
Amortized Cost	$ 41,199,000	$ 52,382,000		$ 41,199,000
Fair Value	$ 29,177,000	$ 40,443,000		$ 29,177,000
Discontinued Operations, Held-for-sale | Residential mortgage loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Quantity | Loan	27	529		27
Amortized Cost	$ 3,033,000	$ 148,140,000		$ 3,033,000
Fair Value	3,033,000	148,140,000		3,033,000
Discontinued Operations, Held-for-sale | Direct Origination Middle-Market Loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair Value	$ 1,800,000	$ 1,900,000		$ 1,800,000

DISCONTINUED OPERATIONS AND 104

DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE Debt facilities (Details)	Nov. 30, 2016USD ($)	Oct. 31, 2016USD ($)Amendment	Aug. 31, 2016USD ($)Amendment	Sep. 30, 2015USD ($)Amendment	Jul. 31, 2014USD ($)	Jun. 30, 2014USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of amendments to facility | Amendment				5
Primary Capital Advisors LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest rate, stated percentage					2.50%
Wells Fargo Securities, LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest rate, stated percentage					2.38%
Wells Fargo Bank | Primary Capital Advisors LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Maximum amount of facility					$ 100,000,000
Interest rate, stated percentage					3.00%
Wells Fargo Bank | Primary Capital Mortgage LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of amendments to facility | Amendment		9
Maximum amount of facility		$ 150,000,000
New Century Bank | Primary Capital Advisors LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Maximum amount of facility			$ 0
Number of loan amendments | Amendment			10
First Tennessee Bank | Primary Capital Advisors LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Maximum amount of facility	$ 25,000,000
Interest rate, stated percentage	2.75%
RMBS | Wells Fargo Bank
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Maximum amount of facility						$ 285,000,000
Trust Certificates Term Repurchase Facilities | Wells Fargo Bank
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Maximum amount of facility				$ 30,000,000

Uncategorized Items - rso-20170

Label	Element	Value
Cash Divested from Deconsolidation	us-gaap_CashDivestedFromDeconsolidation	$ 472,000	[1]
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity, Consolidated, Number of Entities	rso_VariableInterestEntityConsolidatedNumberOfEntities	5
[1]	Cash and cash equivalents at January 1, 2016 decreased by $472,000 due to the adoption of the amendments to the consolidation accounting guidance resulting in the deconsolidation of five variable interest entities.