Resource America (REXI) 10-Q 18 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 11, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'RESOURCE AMERICA, INC.	'
Entity Central Index Key	'0000083402	'
Current Fiscal Year End Date	'--09-30	'
Entity Filer Category	'Accelerated Filer	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'
Amendment Flag	'false	'
Common Stock, Shares, Outstanding	'	20,269,584

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012	Dec. 31, 2011
ASSETS	'	'	'	'
Cash	$19,439,000	$11,899,000	$19,393,000	$12,803,000
Receivables from managed entities and related parties, net	30,288,000	30,618,000	'	'
Investments in real estate, net	17,128,000	18,041,000	'	'
Investment securities, at fair value	9,758,000	10,576,000	'	'
Investments in unconsolidated entities	13,899,000	13,156,000	'	'
Assets of consolidated variable interest entity (VIE) - RSO (see Note 19):	'	'	'	'
Total assets of consolidated VIE - RSO	2,271,468,000	2,476,557,000	'	'
Total assets	2,443,511,000	2,636,764,000	2,488,458,000	'
Liabilities:	'	'	'	'
Payables to managed entities and related parties	3,037,000	3,536,000	'	'
Borrowings	20,380,000	'	'	'
Liabilities of consolidated VIE - RSO (see Note 19):	'	'	'	'
Total liabilities of consolidated VIE - RSO	1,485,385,000	1,856,839,000	'	'
Total liabilities	1,536,415,000	1,902,974,000	'	'
Commitments and contingencies	'	'	'	'
Equity:	'	'	'	'
Preferred stock, $1.00 par value, 1,000,000 shares authorized; none outstanding	0	0	'	'
Common stock, $.01 par value, 49,000,000 shares authorized; 30,341,710 and 30,069,822 shares issued (including nonvested restricted stock of 419,606 and 604,353), respectively	299,000	295,000	'	'
Additional paid-in capital	288,238,000	286,048,000	'	'
Accumulated deficit	-26,420,000	-29,486,000	'	'
Treasury stock, at cost; 10,109,435 and 9,914,090 shares, respectively	-104,869,000	-103,472,000	'	'
Accumulated other comprehensive loss	-2,310,000	-2,197,000	'	'
Total stockholders’ equity	154,938,000	151,188,000	'	'
Total equity	907,096,000	733,790,000	'	'
Liabilities and equity	2,443,511,000	2,636,764,000	'	'
Consolidated Entity Excluding RSO [Member]	'	'	'	'
ASSETS	'	'	'	'
Cash	19,439,000	11,899,000	'	'
Restricted cash	558,000	638,000	'	'
Receivables	3,348,000	468,000	'	'
Receivables from managed entities and related parties, net	30,288,000	30,618,000	'	'
Investments in real estate, net	17,128,000	18,041,000	'	'
Investment securities, at fair value	9,758,000	10,576,000	'	'
Investments in unconsolidated loan manager	37,345,000	37,221,000	'	'
Investments in unconsolidated entities	13,899,000	13,156,000	'	'
Assets of consolidated variable interest entity (VIE) - RSO (see Note 19):	'	'	'	'
Property and equipment, net	4,955,000	2,590,000	'	'
Deferred tax assets, net	29,751,000	28,274,000	'	'
Other assets	5,574,000	6,726,000	'	'
Liabilities:	'	'	'	'
Accrued expenses and other liabilities	27,613,000	21,559,000	'	'
Payables to managed entities and related parties	3,037,000	3,536,000	'	'
Borrowings	20,380,000	21,040,000	'	'
Equity:	'	'	'	'
Accumulated other comprehensive loss	-2,310,000	-2,197,000	'	'
Noncontrolling interests	218,000	279,000	'	'
VIE - RSO [Member]	'	'	'	'
ASSETS	'	'	'	'
Investment securities, at fair value	232,783,000	256,433,000	'	'
Assets of consolidated variable interest entity (VIE) - RSO (see Note 19):	'	'	'	'
Cash and cash equivalents (including restricted cash)	203,658,000	179,390,000	'	'
Investments, at fair value	128,099,000	120,706,000	'	'
Loans	1,644,587,000	1,849,428,000	'	'
Other assets	62,341,000	70,600,000	'	'
Liabilities of consolidated VIE - RSO (see Note 19):	'	'	'	'
Borrowings	1,422,430,000	1,785,600,000	'	'
Other liabilities	62,955,000	71,239,000	'	'
Equity:	'	'	'	'
Noncontrolling interests	$751,940,000	$582,323,000	'	'

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Statement of Financial Position [Abstract]	'	'
Preferred stock, par value (in dollars per share)	$1	$1
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	49,000,000	49,000,000
Common stock, shares issued (in shares)	30,341,710	30,069,822
Common stock restricted shares (in shares)	419,606	604,353
Treasury stock shares (in shares)	10,109,435	9,914,090

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
Share data in Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
REVENUES:	'	'	'	'
Revenues	$43,025,000	$47,889,000	$119,837,000	$123,696,000
COSTS AND EXPENSES:	'	'	'	'
Restructuring expenses	'	'	'	365,000
General and administrative	2,505,000	2,530,000	6,807,000	7,564,000
Impairment charges	'	2,280,000	'	2,280,000
Provision for credit losses	1,808,000	6,336,000	3,793,000	14,996,000
Depreciation and amortization	413,000	529,000	1,318,000	1,592,000
Costs and expenses	30,219,000	31,651,000	82,034,000	88,170,000
OPERATING INCOME	12,806,000	16,238,000	37,803,000	35,526,000
OTHER INCOME (EXPENSE):	'	'	'	'
(Loss) gain on deconsolidation and sale of subsidiaries	'	-140,000	'	54,542,000
Other-than-temporary impairment on investments	'	'	-214,000	-74,000
Interest expense	-530,000	-544,000	-1,525,000	-1,767,000
Other income, net	16,897,000	63,000	17,231,000	5,571,000
Other income (expense), net	16,367,000	-621,000	15,492,000	58,272,000
Income from continuing operations before taxes	29,173,000	15,617,000	53,295,000	93,798,000
Income tax provision (benefit)	'	-5,000	-396,000	20,336,000
Income from continuing operations	27,190,000	15,622,000	49,470,000	73,462,000
Loss from discontinued operations, net of tax	0	-8,000	-2,000	-38,000
Net income	27,190,000	15,614,000	49,468,000	73,424,000
Net income (loss) attributable to common shareholders	3,442,000	-2,267,000	5,051,000	25,562,000
Amounts attributable to common shareholders:	'	'	'	'
Income (loss) from continuing operations	3,442,000	-2,259,000	5,053,000	25,600,000
Discontinued operations	0	-8,000	-2,000	-38,000
Net income (loss) attributable to common shareholders	3,442,000	-2,267,000	5,051,000	25,562,000
Basic earnings (loss) per share:	'	'	'	'
Continuing operations (in dollars per share)	$0.17	($0.11)	$0.25	$1.29
Discontinued operations (in dollars per share)	$0	$0	$0	$0
Net income (loss) (in dollars per share)	$0.17	($0.11)	$0.25	$1.29
Weighted average shares outstanding	20,342	20,102	20,255	19,786
Diluted earnings (loss) per share:	'	'	'	'
Continuing operations (in dollars per share)	$0.16	($0.11)	$0.23	$1.23
Discontinued operations (in dollars per share)	$0	$0	$0	$0
Net income (loss) (in dollars per share)	$0.16	($0.11)	$0.23	$1.23
Weighted average shares outstanding	21,872	20,102	21,931	20,845
Consolidated Entity Excluding RSO [Member]	'	'	'	'
REVENUES:	'	'	'	'
Real estate (includes revenues of $4,701, $2,446, $9,794 and $9,169 related to RSO)	15,950,000	11,292,000	39,443,000	31,929,000
Financial fund management (includes revenues of $450, $2,508, $720 and $4,902 related to RSO)	8,502,000	6,083,000	15,234,000	15,378,000
Commercial finance	-30,000	-167,000	-243,000	-1,535,000
Revenues	24,422,000	17,208,000	54,434,000	45,772,000
COSTS AND EXPENSES:	'	'	'	'
Real estate	11,178,000	7,684,000	29,514,000	22,477,000
Financial fund management	3,547,000	3,909,000	7,769,000	11,282,000
Commercial finance	75,000	103,000	-99,000	451,000
Restructuring expenses	0	0	0	365,000
General and administrative	2,505,000	2,530,000	6,807,000	7,564,000
Impairment charges	0	2,280,000	0	2,280,000
Provision for credit losses	1,808,000	6,336,000	3,793,000	14,996,000
Depreciation and amortization	413,000	529,000	1,318,000	1,592,000
Costs and expenses	19,526,000	23,371,000	49,102,000	61,007,000
OTHER INCOME (EXPENSE):	'	'	'	'
(Loss) gain on deconsolidation and sale of subsidiaries	0	-140,000	0	54,542,000
Other-than-temporary impairment on investments	0	0	-214,000	-74,000
Interest expense	-530,000	-544,000	-1,525,000	-1,767,000
Other income, net	128,000	29,000	400,000	6,000
Other income (expense), net	-402,000	-655,000	-1,339,000	52,707,000
Income tax provision (benefit)	1,261,000	-3,984,000	-396,000	13,358,000
Loss from discontinued operations, net of tax	'	'	-2,000	-38,000
Net income	'	'	49,468,000	73,424,000
Net income attributable to noncontrolling interests	-40,000	36,000	-23,000	30,000
VIE - RSO [Member]	'	'	'	'
REVENUES:	'	'	'	'
Real estate (includes revenues of $4,701, $2,446, $9,794 and $9,169 related to RSO)	4,701,000	2,446,000	9,794,000	9,169,000
Financial fund management (includes revenues of $450, $2,508, $720 and $4,902 related to RSO)	450,000	2,508,000	720,000	4,902,000
Revenues	23,786,000	35,669,000	76,011,000	90,657,000
COSTS AND EXPENSES:	'	'	'	'
Expense from consolidated VIE - RSO	15,554,000	13,230,000	43,110,000	39,752,000
OTHER INCOME (EXPENSE):	'	'	'	'
Other income (expense), net	16,607,000	0	16,607,000	5,464,000
Income tax provision (benefit)	722,000	3,979,000	4,221,000	6,978,000
Net income attributable to noncontrolling interests	-23,708,000	-17,917,000	-44,394,000	-47,892,000
Intersegment Eliminations [Member]	'	'	'	'
REVENUES:	'	'	'	'
Revenues	-5,183,000	-4,988,000	-10,608,000	-12,733,000
COSTS AND EXPENSES:	'	'	'	'
Costs and expenses	-4,861,000	-4,950,000	-10,178,000	-12,589,000
OTHER INCOME (EXPENSE):	'	'	'	'
Other income (expense), net	$162,000	$34,000	$224,000	$101,000

CONSOLIDATED_STATEMENTS_OF_OPE1

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (VIE - RSO [Member], USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
VIE - RSO [Member]	'	'	'	'
Real estate revenue related to RSO	$4,701	$2,446	$9,794	$9,169
Financial fund management revenue related to RSO	$450	$2,508	$720	$4,902

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Net income	$27,190	$15,614	$49,468	$73,424
Other comprehensive income (loss):	'	'	'	'
Subtotal - other comprehensive income	2,681	4,099	9,582	13,397
Comprehensive income	29,871	19,713	59,050	86,821
Comprehensive income attributable to noncontrolling interests	-26,471	-22,223	-54,112	-61,286
Comprehensive income (loss) attributable to common shareholders	3,400	-2,510	4,938	25,535
Consolidated Entity Excluding RSO [Member]	'	'	'	'
Net income	'	'	49,468	73,424
Other comprehensive income (loss):	'	'	'	'
Unrealized losses on investment securities available-for-sale, net of tax of $(57), $(27), $(263) and $(45)	-97	-42	-433	-74
Less: reclassification for (gains) losses realized, net of tax of $0, $0, $83 and $28	0	-1	131	45
Other comprehensive income (loss), available-for-sale securities adjustment, net of tax	-97	-43	-302	-29
Minimum pension liability adjustments, net of tax of $0, $(221), $0 and $(221)	0	289	0	289
Minimum pension liability - reclassification for losses realized, net of tax of $42, $57, $106 and $128	-52	-74	-179	-168
Subtotal - Minimum pension liability	52	-215	179	-121
Unrealized gains on hedging contracts, net of tax of $1, $11, $7 and $86	3	15	10	123
Subtotal - other comprehensive income	-42	-243	-113	-27
VIE - RSO [Member]	'	'	'	'
Other comprehensive income (loss):	'	'	'	'
Reclassifications adjustment for losses (gains) included in net income	396	89	-4,728	1,023
Unrealized losses on investment securities available-for-sale, net of tax of $(57), $(27), $(263) and $(45)	1,723	6,820	11,644	15,216
Reclassification adjustments associated with unrealized losses from interest rate hedges included in net income	129	58	322	170
Foreign currency translation	-23	0	-23	0
Unrealized gains on hedging contracts, net of tax of $1, $11, $7 and $86	498	-2,625	2,480	-2,985
Subtotal - other comprehensive income	$2,723	$4,342	$9,695	$13,424

CONSOLIDATED_STATEMENTS_OF_COM1

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Parenthetical (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Statement of Comprehensive Income [Abstract]	'	'	'	'
Unrealized gain (loss) on investment securities available-for-sale, tax	($57)	($27)	($263)	($45)
Reclassification for losses realized, tax	0	0	83	28
Minimum pension liability adjustments, tax	0	-221	0	-221
Minimum pension liability - reclassification for losses realized, tax	42	57	106	128
Unrealized gain (loss) on hedging contracts, tax	$1	$11	$7	$86

CONSOLIDATED_STATEMENT_OF_CHAN

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (USD $)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total Stockholders' Equity [Member]	Consolidated Entity Excluding RSO [Member]	Consolidated Entity Excluding RSO [Member]	VIE - RSO [Member]	VIE - RSO [Member]
In Thousands, except Share data, unless otherwise specified									Noncontrolling Interests [Member]		Noncontrolling Interests [Member]
Balance, beginning of period at Dec. 31, 2012	$733,790	$295	$286,048	($29,486)	($103,472)	($2,197)	$151,188	'	$279	'	$582,323
Balance, beginning of period (in shares) at Dec. 31, 2012	'	20,155,732	'	'	'	'	'	'	'	'	'
Increase (Decrease) Equity [Roll Forward]	'	'	'	'	'	'	'	'	'	'	'
Net income	49,468	'	'	5,051	'	'	5,051	49,468	23	'	44,394
Treasury shares issued (in shares)	'	26,235	'	'	'	'	'	'	'	'	'
Treasury shares issued	224	'	-49	'	273	'	224	'	'	'	'
Stock-based compensation (in shares)	'	26,300	'	'	'	'	'	'	'	'	'
Stock-based compensation	991	2	989	'	'	'	991	'	'	'	'
Repurchases of common stock (in shares)	'	-221,580	'	'	'	'	'	'	'	'	'
Repurchases of common stock	-1,670	'	'	'	-1,670	'	-1,670	'	'	'	'
Exercise of warrants (in shares)	'	245,588	'	'	'	'	'	'	'	'	'
Exercise of warrants	1,252	2	1,250	'	'	'	1,252	'	'	'	'
Cash dividends	-1,985	'	'	-1,985	'	'	-1,985	'	'	'	'
Distributions	-84	'	'	'	'	'	'	'	-84	'	'
Activity of consolidated VIE	115,528	'	'	'	'	'	'	'	'	'	115,528
Subtotal - other comprehensive income	9,582	'	'	'	'	-113	-113	-113	'	9,695	9,695
Balance, end of period at Sep. 30, 2013	$907,096	$299	$288,238	($26,420)	($104,869)	($2,310)	$154,938	'	$218	'	$751,940
Balance, end of period (in shares) at Sep. 30, 2013	'	20,232,275	'	'	'	'	'	'	'	'	'

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	$49,468	$73,424
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Provision for credit losses	3,793	14,996
Other-than-temporary impairment on investments	214	74
Impairment charges	'	2,280
Unrealized gain on trading securities	-774	-1,108
Equity in earnings of unconsolidated entities	-2,528	-2,882
Gain on sale and deconsolidation of subsidiaries	'	-54,542
Loss from discontinued operations	2	38
Net cash provided by (used in) operating activities	18,736	-19,218
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Net cash provided by investing activities	206,967	94,571
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Repurchase of common stock	'	-1,385
Net cash used in financing activities	-217,792	-67,853
CASH FLOWS FROM DISCONTINUED OPERATIONS:	'	'
Operating activities	-371	-910
Net cash used in discontinued operations	-371	-910
Increase in cash	7,540	6,590
Cash, beginning of year	11,899	12,803
Cash, end of period	19,439	19,393
Consolidated Entity Excluding RSO [Member]	'	'
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	49,468	73,424
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Depreciation and amortization	1,462	1,788
Provision for credit losses	3,793	14,996
Other-than-temporary impairment on investments	214	74
Impairment charges	0	2,280
Unrealized gain on trading securities	-774	-1,108
Equity in earnings of unconsolidated entities	-2,528	-2,882
Distributions from unconsolidated entities	3,099	2,300
Gain on sale of investment securities, net	-4,551	-914
Gain on sale of assets	-1,632	-84
Gain on sale and deconsolidation of subsidiaries	0	-54,542
Deferred income tax (benefit) provision	-254	13,239
Equity-based compensation issued	942	788
Trading securities purchases and sales, net	6,445	-1,048
Loss from discontinued operations	2	38
Changes in operating assets and liabilities	1,465	-1,479
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Capital expenditures	-1,035	-116
Payments received on real estate loans and real estate	2,049	176
Investments in real estate and unconsolidated real estate entities	-2,058	-1,481
Principal payments received on leases and loans	8	12
Proceeds from sale of Apidos, net of transaction costs and cash divested on deconsolidation	0	17,860
Purchase of loans and investments	-2,024	-1,274
Proceeds from sale of loans and investments	0	55
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Increase in borrowings	2,000	0
Principal payments on borrowings	-2,354	-5,593
Dividends paid	-1,194	-1,741
Proceeds from issuance of common stock	1,253	2,131
Repurchase of common stock	-1,601	-1,385
Other	81	-56
CASH FLOWS FROM DISCONTINUED OPERATIONS:	'	'
Cash, beginning of year	11,899	'
Cash, end of period	19,439	'
VIE - RSO [Member]	'	'
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Changes in cash attributable to operations of consolidated VIE- RSO	-38,415	-66,088
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchase of loans and investments	-675,650	-549,826
Principal payments and proceeds from sales received by consolidated VIE - RSO	842,252	540,117
Increase in restricted cash of consolidated VIE - RSO	30,079	85,413
Other investing activity of consolidated VIE - RSO	13,346	3,635
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Dividends paid	'	-52,688
Other	-13,081	-2,839
Net repayments of debt by consolidated VIE - RSO	-320,834	-128,019
Dividends paid on common stock of consolidated VIE - RSO	-66,341	-52,688
Net proceeds from issuance of common stock by consolidated VIE - RSO	$184,279	$122,337

NATURE_OF_OPERATIONS

NATURE OF OPERATIONS	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
NATURE OF OPERATIONS	'
	NATURE OF OPERATIONS
	Resource America, Inc. (the "Company") (NASDAQ: REXI) is a specialized asset management company that uses industry specific expertise to evaluate, originate, service and manage investment opportunities through its real estate, financial fund management, and commercial finance operating segments. As a specialized asset manager, the Company seeks to develop investment funds for outside investors for which the Company provides asset management services, typically under long-term management and operating arrangements either through a contract with, or as the manager or general partner of, the sponsored fund. The Company limits its investment funds to investment areas where it owns existing operating companies or has specific expertise. The Company manages assets on behalf of institutional and individual investors and Resource Capital Corp. (“RSO”) (NYSE: RSO), a diversified real estate finance company that qualifies as a real estate investment trust (“REIT”). The Company owns 2.2% of RSO's outstanding common stock as of September 30, 2013. RSO has been reflected on a consolidated basis with the Company's financial statements (see Notes 2 and 19).
	The consolidated financial statements and the information and tables contained in the notes to the consolidated financial statements are unaudited. However, in the opinion of management, these interim financial statements include all adjustments necessary to fairly present the results of the interim periods presented. The results of operations for the three and nine months ended September 30, 2013 may not necessarily be indicative of the results of operations for the full year ending December 31, 2013.

RESTATEMENT

RESTATEMENT	9 Months Ended
	Sep. 30, 2013
Accounting Changes and Error Corrections [Abstract]	'
RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED AND AS OF DECEMBER 31, 2012 AND CHANGE IN FISCAL YEAR	'
	RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2012 AND AS OF DECEMBER 31, 2012 AND CHANGE IN FISCAL YEAR
	On September 19, 2013, the Audit Committee of the Board of Directors concluded that it was necessary to restate the audited financial statements set forth in the Company’s Annual Report on Form 10-K for the year ended September 30, 2012 and certain of the unaudited financial statements in its Quarterly Reports on Form 10-Q, including the three and nine months ended September 30, 2012. The restatement reflects the consolidation of RSO which the Company previously treated as an unconsolidated variable interest entity ("VIE"). The Company also determined to change its fiscal year end from September 30th to December 31st in order to conform to the fiscal year of RSO.
	The impact of consolidating RSO to the Company's consolidated net income attributable to common shareholders for the three and nine months ended September 30, 2012 was as follows (in thousands):
	•	Dividends from RSO were eliminated, which reduced net income attributable to common shareholders by $528,000 and $1.5 million, respectively.
	•	The Company's interests in the earnings of RSO increased consolidated net income attributable to common shareholders by $539,000 and $1.5 million, respectively.
	The following sets forth the effect of the restatement on the applicable line items in the Company's consolidated balance sheet as of December 31, 2012 (in thousands) (unaudited):
					Restatement Adjustments
		As Previously Reported			RSO			Eliminations			As Restated
	ASSETS
	Cash	$	11,899		$	—		$	—		$	11,899
	Restricted cash	638			—			—			638
	Receivables	468			—			—			468
	Receivables from managed entities and related parties, net	38,685			—			(8,067		)	30,618
	Investments in real estate, net	18,041			—			—			18,041
	Investment securities, at fair value	25,533			—			(14,957		)	10,576
	Investments in unconsolidated loan manager	37,221			—			—			37,221
	Investments in unconsolidated entities	13,156			—			—			13,156
	Assets of consolidated VIE - RSO:
	Cash and cash equivalents (including restricted cash)	—			179,390			—			179,390
	Investments, at fair value	—			256,433			—			256,433
	Loans	—			1,850,998			(1,570		)	1,849,428
	Investments in real estate and unconsolidated entities	—			120,799			(93		)	120,706
	Other assets	—			70,631			(31		)	70,600
	Total assets of consolidated VIE - RSO	—			2,478,251			(1,694		)	2,476,557
	Property and equipment, net	2,590			—			—			2,590
	Deferred tax assets, net	35,373			—			(7,099		)	28,274
	Other assets	6,726			—			—			6,726
	Total assets	$	190,330		$	2,478,251		$	(31,817	)	$	2,636,764
	LIABILITIES AND EQUITY
	Liabilities:
	Accrued expenses and other liabilities	$	21,556		$	—		$	3		$	21,559
	Payables to managed entities and related parties	3,567			—			(31		)	3,536
	Borrowings	22,610			—			(1,570		)	21,040
	Liabilities of consolidated VIE - RSO:
	Borrowings	—			1,785,600			—			1,785,600
	Other liabilities	—			79,306			(8,067		)	71,239
	Total liabilities of consolidated VIE - RSO	—			1,864,906			(8,067		)	1,856,839
	Total liabilities	47,733			1,864,906			(9,665		)	1,902,974
	Commitments and contingencies
	Equity:
	Preferred stock	—			—			—			—
	Common stock	295			—			—			295
	Additional paid-in capital	286,048			—			—			286,048
	Accumulated deficit	(27,137		)	—			(2,349		)	(29,486		)
	Treasury stock, at cost	(103,472		)	—			—			(103,472		)
	Accumulated other comprehensive (loss) income	(13,416		)	—			11,219			(2,197		)
	Total stockholders’ equity	142,318			—			8,870			151,188
	Noncontrolling interests	279			—			—			279
	Noncontrolling interests attributable to RSO	—			613,345			(31,022		)	582,323
	Total equity	142,597			613,345			(22,152		)	733,790
		$	190,330		$	2,478,251		$	(31,817	)	$	2,636,764
	The following sets forth the effect of the restatement on the applicable line items in the Company's consolidated statement of operations for the three months ended September 30, 2012 (in thousands) (unaudited):
					Restatement Adjustments
		As Previously Reported			RSO			Eliminations			As Restated
	REVENUES:
	Real estate	$	11,292		$	—		$	—		$	11,292
	Financial fund management	6,083			—			—			6,083
	Commercial finance	(167		)	—			—			(167		)
	Revenues from consolidated VIE - RSO	—			35,669			—			35,669
	Elimination of consolidated revenues attributed to operating segments	—			—			(4,988		)	(4,988		)
		17,208			35,669			(4,988		)	47,889
	COSTS AND EXPENSES:
	Real estate	7,684			—			—			7,684
Financial fund management	3,909			—			—			3,909
Commercial finance	103			—			—			103
General and administrative	2,530			—			—			2,530
Impairment charges	2,280			—			—			2,280
Provision for credit losses	6,336			—			—			6,336
Depreciation and amortization	529			—			—			529
Expenses from consolidated VIE - RSO	—			13,230			—			13,230
Elimination of consolidated expenses attributed to operating segments	—			—			(4,950		)	(4,950		)
	23,371			13,230			(4,950		)	31,651
OPERATING (LOSS) INCOME	(6,163		)	22,439			(38		)	16,238
OTHER INCOME (EXPENSE):
Loss on deconsolidation and sale of subsidiaries	(140		)	—			—			(140		)
Interest expense	(544		)	—			—			(544		)
Other income, net	557			—			(528		)	29
Elimination of consolidated VIE - RSO other income attributable to operating segments	—			—			34			34
	(127		)	—			(494		)	(621		)
(Loss) income from continuing operations before taxes	(6,290		)	22,439			(532		)	15,617
Income tax (benefit) provision	(3,984		)	3,979			—			(5		)
(Loss) income from continuing operations	(2,306		)	18,460			(532		)	15,622
Loss from discontinued operations, net of tax	(8		)	—			—			(8		)
Net (loss) income	(2,314		)	18,460			(532		)	15,614
Net loss attributable to noncontrolling interests - RAI	36			—			—			36
Net income attributable to noncontrolling interests of consolidated VIE - RSO	—			(17,917		)	—			(17,917		)
Net (loss) income attributable to common shareholders	$	(2,278	)	$	543		$	(532	)	$	(2,267	)
Amounts attributable to common shareholders:
(Loss) income from continuing operations	$	(2,270	)	$	543		$	(532	)	$	(2,259	)
Discontinued operations	(8		)	—			—			(8		)
Net (loss) income	$	(2,278	)	$	543		$	(532	)	$	(2,267	)
The following sets forth the effect of both the change in year end and the restatement on the applicable line items in the Company's consolidated statement of operations for the nine months ended September 30, 2012 (in thousands) (unaudited):
	For the Twelve Months Ended			For the Three Months Ended			For the Nine Months Ended
	30-Sep-12			31-Dec-11			30-Sep-12			Restatement Adjustments
	As Previously Reported			As Previously Reported			As calculated			RSO			Eliminations			As Restated
REVENUES:
Real estate	$	40,595		$	8,666		$	31,929		$	—		$	—		$	31,929
Financial fund management	21,957			6,579			15,378			—			—			15,378
Commercial finance	1,884			3,419			(1,535		)	—			—			(1,535		)
Revenues from consolidated VIE - RSO	—			—			—			90,657			—			90,657
Elimination of consolidated	—			—			—			—			(12,733		)	(12,733		)
revenues attributed to
operating segments
	64,436			18,664			45,772			90,657			(12,733		)	123,696
COSTS AND EXPENSES:
Real estate	29,669			7,192			22,477			—			—			22,477
Financial fund management	17,086			5,804			11,282			—			—			11,282
Commercial finance	2,414			1,963			451			—			—			451
Restructuring expenses	365			—			365			—			—			365
General and administrative	10,460			2,896			7,564			—			—			7,564
Gain on sale of leases and loans	(37		)	(37		)	—			—			—			—
Impairment charges	2,280			—			2,280			—			—			2,280
Provision for credit losses	17,246			2,250			14,996			—			—			14,996
Depreciation and amortization	3,653			2,061			1,592			—			—			1,592
Expenses from consolidated VIE - RSO	—			—			—			39,752			—			39,752
Elimination of consolidated VIE	—			—			—			—			(12,589		)	(12,589		)
expenses attributable to
operating segments
	83,136			22,129			61,007			39,752			(12,589		)	88,170
OPERATING (LOSS) INCOME	(18,700		)	(3,465		)	(15,235		)	50,905			(144		)	35,526
OTHER INCOME (EXPENSE):
Gain on deconsolidation and sale of subsidiaries	63,291			8,749			54,542			—			—			54,542
Loss on extinguishment of debt	(2,190		)	(2,190		)	—			—			—			—
Other-than-temporary impairment	(74		)	—			(74		)	—			—			(74		)
on investments
Gain on sale of investment	63			58			5			—			(5		)	—
securities, net
Interest expense	(4,741		)	(2,974		)	(1,767		)	—			—			(1,767		)
Other income, net	2,103			559			1,544			—			(1,538		)	6
Other income of consolidated VIE - RSO	—			—			—			5,464			—			5,464
Elimination of consolidated VIE - RSO other income attributable to operating segments	—			—			—			—			101			101
	58,452			4,202			54,250			5,464			(1,442		)	58,272
	For the twelve months ended			For the three months ended			For the nine months ended
	30-Sep-12			31-Dec-11			30-Sep-12			Restatement Adjustments
	As Previously Reported			As Previously Reported			As calculated			RSO			Eliminations			As Restated
Income (loss) from continuing operations before taxes	39,752			737			39,015			56,369			(1,586		)	93,798
Income tax provision	13,512			154			13,358			6,978			—			20,336
Income from continuing operations	26,240			583			25,657			49,391			(1,586		)	73,462
Loss from discontinued operations, net of tax	(58		)	(20		)	(38		)	—			—			(38		)
Net income (loss)	26,182			563			25,619			49,391			(1,586		)	73,424
Net (income) loss attributable to noncontrolling interests - RAI	(348		)	(378		)	30			—			—			30
Net income attributable to noncontrolling interests of consolidated VIE - RSO	—			—			—			(47,892		)	—			(47,892		)
Net income (loss) attributable to common shareholders	$	25,834		$	185		$	25,649		$	1,499		$	(1,586	)	$	25,562
Amounts attributable to common shareholders:
Income (loss) from continuing operations	$	25,892		$	205		$	25,687		$	1,499		$	(1,586	)	$	25,600
Discontinued operations	(58		)	(20		)	(38		)	—			—			(38		)
Net income (loss)	$	25,834		$	185		$	25,649		$	1,499		$	(1,586	)	$	25,562
Basic earnings per share:
Continuing operations	$	1.31		$	0.01		$	1.3								$	1.29
Discontinued operations	—			—			—									—
Net income	$	1.31		$	0.01		$	1.3								$	1.29
Weighted average shares outstanding	19,740			19,641			19,786									19,786
Diluted earnings per share:
Continuing operations	$	1.25		$	0.01		$	1.23								$	1.23
Discontinued operations	—			—			—									—
Net income	$	1.25		$	0.01		$	1.23								$	1.23
Weighted average shares outstanding	20,634			20,039			20,845									20,845
The following sets forth the effect of both the change in year end and the restatement on the applicable line items in the Company's consolidated statement of comprehensive income for the three months ended September 30, 2012 (in thousands) (unaudited):
	For the Twelve Months Ended September 30, 2012			For the Nine Months Ended June 30, 2012			For the Three Months Ended September 30, 2012			Restatement Adjustments
	As Previously Reported			As Previously Reported			As calculated			RSO			Eliminations			As Restated
Net income (loss)	$	26,182		$	28,496		$	(2,314	)	$	18,460		$	(532	)	$	15,614
Other comprehensive (loss) income:
Unrealized losses on investment securities available-for-sale	1,363			518			845			—			(887		)	(42		)
Less: reclassification for (gains) losses realized, net of tax	45			46			(1		)	—			—			(1		)
	1,408			564			844			—			(887		)	(43		)
Minimum pension liability adjustments, net of tax	(289		)	—			(289		)	—			—			(289		)
Minimum pension liability - reclassification for losses realized, net of tax	214			140			74			—			—			74
	(75		)	140			(215		)	—			—			(215		)
Unrealized gains (losses) on hedging contracts, net of tax	(6		)	(21		)	15			—			—			15
Deconsolidation of LEAF -unrealized loss on hedging contracts	255			255			—			—			—			—
	249			234			15			—			—			15
Subtotal- activity related to RAI:	1,582			938			644			—			(887		)	(243		)
Activity related to consolidated VIE - RSO:
Reclassifications adjustment for losses (gains) included in net income	—			—			—			89			—			89
Unrealized gains on available-for-sale securities, net	—			—			—			6,820			—			6,820
Reclassification adjustments associated with unrealized losses from interest rate hedges included in net income	—			—			—			58			—			58
Unrealized losses on derivatives, net	—			—			—			(2,625		)	—			(2,625		)
Subtotal activity related to consolidated VIE - RSO:	—			—			—			4,342			—			4,342
Subtotal - other comprehensive income (loss)	1,582			938			644			4,342			(887		)	4,099
Comprehensive income (loss)	27,764			29,434			(1,670		)	22,802			(1,419		)	19,713
Comprehensive (income) loss attributable to noncontrolling interests	(397		)	(433		)	36			(22,259		)	—			(22,223		)
Comprehensive income (loss) attributable to	$	27,367		$	29,001		$	(1,634	)	$	543		$	(1,419	)	$	(2,510	)
common shareholders
The following sets forth the effect of both the change in year end and the restatement on the applicable line items in the Company's consolidated statement of comprehensive income for the nine months ended September 30, 2012 (in thousands) (unaudited):
	For the Twelve Months Ended September 30, 2012			For the Three Months Ended December 31, 2011			For the Nine Months Ended September 30, 2012			Restatement Adjustments
	As Previously Reported			As Previously Reported			As calculated			RSO			Eliminations			As Restated
Net income (loss)	$	26,182		$	563		$	25,619		$	49,391		$	(1,586	)	$	73,424
Other comprehensive income (loss):
Unrealized gains (losses) on	1,363			985			378			—			(452		)	(74		)
investment securities
available-for-sale
Less: reclassification for losses realized, net of tax	45			—			45			—			—			45
	1,408			985			423			—			(452		)	(29		)
Minimum pension liability	(289		)	—			(289		)	—			—			(289		)
adjustments, net of tax
Minimum pension liability -	214			47			167			—			1			168
reclassification for losses realized,
net of tax
	(75		)	47			(122		)	—			1			(121		)
Unrealized (losses) gains on hedging contracts, net of tax	(6		)	(129		)	123			—			—			123
Deconsolidation of LEAF - unrealized loss on hedging contracts	255			255			—			—			—			—
	249			126			123			—			—			123
Subtotal - activity related to RAI	1,582			1,158			424			—			(451		)	(27		)
Activity related to consolidated VIE - RSO:
Reclassifications adjustment for	—			—			—			1,023			—			1,023
losses included in net income
Unrealized gains on available-for-	—			—			—			15,216			—			15,216
sale securities, net
Reclassification adjustments	—			—			—			170			—			170
associated with unrealized losses
from interest rate hedges included
in net income
Unrealized losses on derivatives, net	—			—			—			(2,985		)	—			(2,985		)
Subtotal activity related to consolidated VIE - RSO	—			—			—			13,424			—			13,424
Subtotal - other comprehensive income (loss)	1,582			1,158			424			13,424			(451		)	13,397
Comprehensive income (loss)	27,764			1,721			26,043			62,815			(2,037		)	86,821
Comprehensive (income) loss attributable to noncontrolling interests	(397		)	(427		)	30			(61,316		)	—			(61,286		)
Comprehensive income (loss)	$	27,367		$	1,294		$	26,073		$	1,499		$	(2,037	)	$	25,535
attributable to common shareholders
The following table presents the consolidating statement of cash flows as originally presented in the September 30, 2012 10-K for the twelve months ended September 30, 2012, less the activity for the three months ended December 31, 2011, in order to derive the activity for the nine months ended September 30, 2012 as shown in the column labeled "RAI" in the previous table presented (in thousands) (unaudited):
	For the Twelve Months Ended September 30, 2012			For the Three Months Ended December 31, 2011						For the Nine Months Ended September 30, 2012
	As Previously Reported			As Previously Reported			Adjustments			As Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	26,182		$	563		$	—		$	25,619
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	4,875			3,087			—			1,788
Other-than-temporary impairment on investments	74			—			—			74
Impairment charges	2,280			—			—			2,280
Provision for credit losses	17,246			2,250			—			14,996
Unrealized gain on trading securities	(1,108		)	—			—			(1,108		)
Equity in earnings of unconsolidated entities	(3,439		)	(557		)	—			(2,882		)
Distributions from unconsolidated entities	3,463			1,163			—			2,300
Gain on sale of leases and loans	(37		)	(37		)	—			—
Gain on sale of loans and investment securities, net	(972		)	(58		)	—			(914		)
Gain on the sale of assets	(84		)	—			—			(84		)
Gain on sale and deconsolidation of subsidiaries	(63,291		)	(8,749		)	—			(54,542		)
Loss on extinguishment of debt	2,190			2,190			—			—
Deferred income tax benefit	13,393			154			—			13,239
Equity-based compensation issued	1,286			498			—			788
Equity-based compensation received	(153		)	—			—			(153		)
Trading securities purchases and sales, net	(1,048		)	—			—			(1,048		)
Loss from discontinued operations	58			—			20			38
Changes in operating assets and liabilities	(2,911		)	(1,412		)	(20		)	(1,479		)
Net cash used in operating activities	(1,996		)	(908		)	—			(1,088		)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(222		)	(106		)	—			(116		)
Payments received on real estate loans and real estate	1,726			1,550			—			176
Investments in unconsolidated real estate entities	(1,608		)	(127		)	—			(1,481		)
Purchase of commercial finance assets	(18,483		)	(18,483		)	—			—
Principal payments received on leases and loans	9,043			9,031			—			12
Cash divested on deconsolidation of LEAF	(2,284		)	(2,284		)	—			—
Net proceeds from sale of Apidos and cash divested on deconsolidation	17,860			—			—			17,860
Purchase of loans and investments	(1,874		)	(600		)	—			(1,274		)
Proceeds from sale of loan and investments	262			207			—			55
Net cash provided by (used in) in investing activities	4,420			(10,812		)	—			15,232
	For the Twelve Months Ended September 30, 2012			For the Three Months Ended December 31, 2011						For the Nine Months Ended September 30, 2012
	As Previously Reported			As Previously Reported			Adjustments			As Restated
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in borrowings	128,845			128,845			—			—
Principal payments on borrowings	(129,416		)	(123,823		)	—			(5,593		)
Dividends paid	(2,310		)	(569		)	—			(1,741		)
Proceeds from issuance of common stock	2,131			—			—			2,131
Repurchase of common stock	(2,324		)	(939		)	—			(1,385		)
Increase in restricted cash	(664		)	(633		)	(31		)	—
Preferred stock dividends paid by LEAF to RSO	(188		)	(188		)	—			—
Other	(2,275		)	(2,250		)	31			(56		)
Net cash (used in) provided by financing activities	(6,201		)	443			—			(6,644		)
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Operating activities	(1,285		)	(375		)	—			(910		)
Net cash used in discontinued operations	(1,285		)	(375		)	—			(910		)
(Decrease) increase in cash	(5,062		)	(11,652		)	—			6,590
Cash, beginning of period	24,455			24,455			—			12,803
Cash, end of period	$	19,393		$	12,803		$	—		$	19,393
The following table shows the details of the consolidating cash flows of the Company, RSO and eliminations that are included in the Consolidated Statement of Cash Flows for the nine months ended September 30, 2012 (in thousands) (unaudited):
	RAI			RSO			Eliminations			As Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	25,619		$	49,391		$	(1,586	)	$	73,424
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	1,788			—			—			1,788
Other-than-temporary impairment on investments	74			—			—			74
Impairment charges	2,280			—			—			2,280
Provision for credit losses	14,996			—			—			14,996
Unrealized gain on trading securities	(1,108		)	—			—			(1,108		)
Equity in earnings of unconsolidated entities	(2,882		)	—			—			(2,882		)
Distributions from unconsolidated entities	2,300			—			—			2,300
Gain on sale of loans and investment securities, net	(914		)	—			—			(914		)
Gain on the sale of assets	(84		)	—			—			(84		)
Gain on sale of subsidiary	(54,542		)	—			—			(54,542		)
Deferred income tax benefit	13,239			—			—			13,239
Equity-based compensation issued	788			814			(814		)	788
Equity-based compensation received	(153		)				153			—
Trading securities purchases and sales, net	(1,048		)	—			—			(1,048		)
Loss from discontinued operations	38			—			—			38
Changes in operating assets and liabilities	(1,479		)	—			—			(1,479		)
Change in cash attributable to operations of consolidated VIE - RSO	—			(66,749		)	661			(66,088		)
Net cash used in operating activities	(1,088		)	(16,544		)	(1,586		)	(19,218		)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(116		)	—			—			(116		)
Payments received on real estate loans and real estate	176			—			—			176
Investments in unconsolidated real estate entities	(1,481		)	—			—			(1,481		)
Principal payments received on leases and loans	12			—			—			12
Purchase of loans and securities by consolidated VIE - RSO	—			(549,826		)	—			(549,826		)
Principal payments and proceeds from sales received by consolidated VIE - RSO	—			540,117			—			540,117
Proceeds from sale of Apidos, net of transaction costs and cash divested on deconsolidation	17,860			—			—			17,860
Purchase of loans and investments	(1,274		)	—			—			(1,274		)
Proceeds from sale of loans and investment securities	55			—			—			55
Increase in restricted cash - consolidated VIE RSO	—			85,413			—			85,413
Other investing activity of consolidated VIE - RSO	—			3,592			43			3,635
Net cash provided by investing activities	15,232			79,296			43			94,571
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on borrowings	(5,593		)	—			—			(5,593		)
Net repayments of debt by consolidated VIE - RSO	—			(128,019		)	—			(128,019		)
Dividends paid	(1,741		)	—			—			(1,741		)
Dividends paid on common stock by consolidated VIE - RSO	—			(54,231		)	1,543			(52,688		)
Net proceeds from issuance of common stock by consolidated VIE - RSO	—			122,337			—			122,337
Proceeds from issuance of common stock	2,131			—			—			2,131
Repurchase of common stock	(1,385		)	—			—			(1,385		)
Other	(56		)	—			—			(56		)
Other financing activities of consolidated VIE-RSO	—			(2,839		)	—			(2,839		)
Net cash (used in) provided by financing activities	(6,644		)	(62,752		)	1,543			(67,853		)
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Operating activities	(910		)	—			—			(910		)
Net cash used in discontinued operations	(910		)	—			—			(910		)
Increase in cash	6,590			—			—			6,590
Cash, beginning of year	12,803			—			—			12,803
Cash, end of period	$	19,393		$	—		$	—		$	19,393

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Principles of Consolidation
	The consolidated financial statements reflect the Company's accounts and the accounts of the Company's majority-owned and/or controlled subsidiaries. The Company also consolidates entities that are VIEs where it has determined that it is the primary beneficiary of such entities. Once it is determined that the Company holds a variable interest in a VIE, management must perform a qualitative analysis to determine (i) if the Company has the power to direct the matters that most significantly impact the VIE's financial performance; and (ii) if the Company has the obligation to absorb the losses of the VIE that could potentially be significant to the VIE or the right to receive the benefits of the VIE that could potentially be significant to the VIE. If the Company possesses both of these characteristics, the Company is deemed to be the primary beneficiary and would be required to consolidate the VIE. The Company will continually assess its involvement with VIEs and reevaluate the requirement to consolidate them. The portions of these entities that the Company does not own are presented as noncontrolling interests as of the dates and for the periods presented in the consolidated financial statements.
	The financial statements reflect the consolidation of RSO. Variable interests in the Company's real estate segment have historically related to subordinated financings in the form of mezzanine loans or unconsolidated real estate interests. See Note 19 for additional disclosures pertaining to VIEs.
	All intercompany transactions and balances have been eliminated in the Company's consolidated financial statements.
	Financing Receivables
	Receivables from managed entities.  The Company performs a review of the collectability of its receivables from managed entities on a quarterly basis.  If upon review there is an indication of impairment, the Company will analyze the future cash flows of the managed entity.  With respect to the receivables from its commercial finance investment partnerships, this takes into consideration several assumptions by management, primarily concerning estimations of future bad debts and recoveries.  For the receivables from the real estate investment entities for which there are indications of impairment, the Company estimates the cash flows through the sale of the underlying properties, which is based on projected net operating income as a multiple of published capitalization rates, which is then reduced by the underlying mortgage balances and priority distributions due to the investors in the entity.
	Real estate - rent receivables. The Company evaluates the collectability of the rent receivables for the properties it owns and fully reserves for amounts after they are 90 days past due. Amounts are charged off when they are deemed to be uncollectible.
	Recent Accounting Standards
	Newly-Adopted Accounting Principles
	The Company’s adoption of the following standard during 2013 did not have a material impact on its consolidated financial position, results of operations or cash flows:
	In February 2013, the FASB issued guidance that requires an entity to disclose information showing the effect of items reclassified from accumulated other comprehensive income on the line items of net income. The Company adopted this guidance beginning January 1, 2013 and has presented the required disclosures.
	Accounting Standard Issued But Not Yet Effective
	The FASB issued the following accounting standard which was not yet effective for the Company as of September 30, 2013:
	In July 2013, the FASB issued guidance that addresses the diversity in practice regarding financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance requires an unrecognized tax benefit, or a portion of, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent the deferred tax asset is not available at the reporting date to settle any additional income taxes that would result from the disallowance of a tax position, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with the deferred tax asset. The amendments in this standard are effective for the Company beginning January 1, 2014. The Company does not anticipate that the adoption of this guidance will have a material impact on its consolidated financial statements.

CONSOLIDATING_FINANCIAL_INFORM

CONSOLIDATING FINANCIAL INFORMATION	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
CONSOLIDATING FINANCIAL INFORMATION	'
	CONSOLIDATING FINANCIAL INFORMATION
	The following table presents the consolidating balance sheet as of September 30, 2013 (unaudited) (in thousands):
		RAI			RSO			Eliminations			Consolidated
	ASSETS
	Cash	$	19,439		$	—		$	—		$	19,439
	Restricted cash	558			—			—			558
	Receivables	3,444			—			(96		)	3,348
	Receivables from managed entities and related parties, net	34,457			—			(4,169		)	30,288
	Investments in real estate, net	17,128			—			—			17,128
	Investment securities, at fair value	27,156			—			(17,398		)	9,758
	Investments in unconsolidated loan manager	37,345			—			—			37,345
	Investments in unconsolidated entities	13,899			—			—			13,899
	Assets of consolidated VIE - RSO:				—
	Cash and cash equivalents (including restricted cash)	—			203,658			—			203,658
	Investments, at fair value	—			232,783			—			232,783
	Loans	—			1,646,157			(1,570		)	1,644,587
	Investments in real estate and unconsolidated entities	—			128,099			—			128,099
	Other assets	—			62,367			(26		)	62,341
	Total assets of consolidated VIE - RSO	—			2,273,064			(1,596		)	2,271,468
	Property and equipment, net	4,955			—			—			4,955
	Deferred tax assets, net	37,353			—			(7,602		)	29,751
	Other assets	5,574			—			—			5,574
	Total assets	$	201,308		$	2,273,064		$	(30,861	)	$	2,443,511
	LIABILITIES AND EQUITY
	Liabilities:
	Accrued expenses and other liabilities	$	27,613		$	—		$	—		$	27,613
	Payables to managed entities and related parties	3,063			—			(26		)	3,037
	Borrowings	21,950			—			(1,570		)	20,380
	Liabilities of consolidated VIE - RSO:
	Borrowings	—			1,422,430			—			1,422,430
	Other liabilities	—			67,220			(4,265		)	62,955
	Total liabilities of consolidated VIE - RSO	—			1,489,650			(4,265		)	1,485,385
	Total liabilities	52,626			1,489,650			(5,861		)	1,536,415
	Commitments and contingencies
	Equity:
	Preferred stock	—			—			—			—
	Common stock	299			—			—			299
	Additional paid-in capital	288,238			—			—			288,238
	Accumulated deficit	(23,009		)	—			(3,411		)	(26,420		)
	Treasury stock, at cost	(104,869		)	—			—			(104,869		)
	Accumulated other comprehensive (loss) income	(12,195		)	—			9,885			(2,310		)
	Total stockholders’ equity	148,464			—			6,474			154,938
	Noncontrolling interests	218			—			—			218
	Noncontrolling interests attributable to RSO	—			783,414			(31,474		)	751,940
	Total equity	148,682			783,414			(25,000		)	907,096
		$	201,308		$	2,273,064		$	(30,861	)	$	2,443,511
	The following table presents the consolidating statement of operations for the three months ended September 30, 2013 (in thousands) (unaudited):
		RAI			RSO			Eliminations			Consolidated
	REVENUES:
	Real estate	$	15,950		$	—		$	—		$	15,950
	Financial fund management	8,502			—			—			8,502
	Commercial finance	(30		)	—			—			(30		)
	Revenues from consolidated VIE - RSO	—			23,786			—			23,786
	Elimination of consolidated revenues attributed to operating segments	—			—			(5,183		)	(5,183		)
		24,422			23,786			(5,183		)	43,025
	COSTS AND EXPENSES:
	Real estate	11,178			—			—			11,178
	Financial fund management	3,547			—			—			3,547
	Commercial finance	75			—			—			75
	General and administrative	2,505			—			—			2,505
	Provision for credit losses	1,808			—			—			1,808
	Depreciation and amortization	413			—			—			413
	Expenses from consolidated VIE - RSO	—			16,276			(722		)	15,554
Elimination of consolidated expenses attributed to operating segments	—			—			(4,861		)	(4,861		)
	19,526			16,276			(5,583		)	30,219
OPERATING INCOME	4,896			7,510			400			12,806
OTHER INCOME (EXPENSE):
Interest expense	(530		)	—			—			(530		)
Other income, net	684			—			(556		)	128
Other income from consolidated VIE - RSO	—			16,607			—			16,607
Elimination of consolidated VIE other income attributable to operating segments	—			—			162			162
	154			16,607			(394		)	16,367
Income from continuing operations before taxes	5,050			24,117			6			29,173
Income tax provision - RSO	—			—			722			722
Income tax provision - RAI	1,261			—			—			1,261
Net income (loss)	3,789			24,117			(716		)	27,190
Net income attributable to noncontrolling interests - RAI	(40		)	—			—			(40		)
Net income attributable to noncontrolling interests of consolidated VIE- RSO	—			(1,996		)	(21,712		)	(23,708		)
Net income (loss) attributable to common shareholders	$	3,749		$	22,121		$	(22,428	)	$	3,442
The following table presents the consolidating statement of operations for the nine months ended September 30, 2013 (in thousands) (unaudited):
	RAI			RSO			Eliminations			Consolidated
REVENUES:
Real estate	$	39,443		$	—		$	—		$	39,443
Financial fund management	15,234			—			—			15,234
Commercial finance	(243		)	—			—			(243		)
Revenues from consolidated VIE - RSO	—			76,011			—			76,011
Elimination of consolidated revenues attributed to operating segments	—			—			(10,608		)	(10,608		)
	54,434			76,011			(10,608		)	119,837
COSTS AND EXPENSES:
Real estate	29,514			—			—			29,514
Financial fund management	7,769			—			—			7,769
Commercial finance	(99		)	—			—			(99		)
General and administrative	6,807			—			—			6,807
Provision for credit losses	3,793			—			—			3,793
Depreciation and amortization	1,318			—			—			1,318
Expenses from consolidated VIE - RSO	—			47,331			(4,221		)	43,110
Elimination of consolidated expenses attributed to operating segments	—			—			(10,178		)	(10,178		)
	49,102			47,331			(14,399		)	82,034
OPERATING INCOME	5,332			28,680			3,791			37,803
OTHER INCOME (EXPENSE):
Other-than-temporary impairment on	(214		)							(214		)
investments
Interest expense	(1,525		)	—			—			(1,525		)
Other income, net	2,069			—			(1,669		)	400
Other income from consolidated VIE - RSO	—			16,607			—			16,607
Elimination of consolidated VIE other income attributable to operating segments	—			—			224			224
	330			16,607			(1,445		)	15,492
Income from continuing operations before taxes	5,662			45,287			2,346			53,295
Income tax provision - RSO	—			—			4,221			4,221
Income tax benefit - RAI	(396		)	—			—			(396		)
Income from continuing operations	6,058			45,287			(1,875		)	49,470
Loss from discontinued operations, net of tax	(2		)	—			—			(2		)
Net income	6,056			45,287			(1,875		)	49,468
Net income attributable to noncontrolling interests - RAI	(23		)	—			—			(23		)
Net income attributable to noncontrolling interests of consolidated VIE - RSO	—			(5,107		)	(39,287		)	(44,394		)
Net income (loss) attributable to common shareholders	$	6,033		$	40,180		$	(41,162	)	$	5,051
The following table presents the consolidating statement of cash flows for the nine months ended September 30, 2013 (in thousands) (unaudited):
	RAI			RSO			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	6,056		$	45,287		$	(1,875	)	$	49,468
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization	1,462			—			—			1,462
Other-than-temporary impairment charges	214			—			—			214
Provision for credit losses	3,793			—			—			3,793
Unrealized gain on trading securities	(1,073		)	—			299			(774		)
Equity in earnings of unconsolidated entities	(2,528		)	—			—			(2,528		)
Distributions from unconsolidated entities	3,099			—			—			3,099
Gain on sale of assets	(1,632		)	—			—			(1,632		)
Gain on sale of loans and investment securities, net	(4,551		)	—			—			(4,551		)
Deferred income tax benefit	(254		)	—			—			(254		)
Equity-based compensation received	(654		)	—			654			—
Equity-based compensation issued	942			484			(484		)	942
Trading securities purchases and sales, net	6,445			—			—			6,445
Loss from discontinued operations	2			—			—			2
Changes in operating assets and liabilities	1,465			—			—			1,465
Change in cash attributable to consolidated VIE - RSO	—			(38,124		)	(291		)	(38,415		)
Net cash provided by (used in) operating activities	12,786			7,647			(1,697		)	18,736
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(1,035		)	—			—			(1,035		)
Payments received on real estate loans and real estate	2,049			—			—			2,049
Investments in unconsolidated real estate entities	(2,058		)	—			—			(2,058		)
Principal payments received on leases and loans	8			—			—			8
Purchase of loans and securities by consolidated VIE - RSO	—			(675,650		)	—			(675,650		)
Principal payments and proceeds from sales received by consolidated VIE - RSO	—			842,252			—			842,252
Purchase of loans and investments	(2,024		)	—			—			(2,024		)
Proceeds from sale of loans and investment securities	—			—			—			—
Increase in restricted cash - consolidated VIE RSO	—			30,079			—			30,079
Other - consolidated VIE - RSO	—			13,318			28			13,346
Net cash provided by (used in) in investing activities	(3,060		)	209,999			28			206,967
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in borrowings	2,000			—			—			2,000
Principal payments on borrowings	(2,354		)	—			—			(2,354		)
Proceeds from issuance of common stock	1,253			—			—			1,253
Net borrowings (repayments) of debt by consolidated VIE - RSO	—			(320,834		)	—			(320,834		)
Dividends paid	(1,194		)	—			—			(1,194		)
Dividends paid on common stock by consolidated VIE - RSO	—			(68,010		)	1,669			(66,341		)
Net proceeds from issuance of common stock by consolidated VIE - RSO	—			184,279			—			184,279
Repurchase of common stock	(1,601		)	—			—			(1,601		)
Other	81			—			—			81
Other - consolidated VIE - RSO	—			(13,081		)	—			(13,081		)
Net cash (used in) provided by financing activities	(1,815		)	(217,646		)	1,669			(217,792		)
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Operating activities	(371		)	—			—			(371		)
Net cash used in discontinued operations	(371		)	—			—			(371		)
Increase in cash	7,540			—			—			7,540
Cash, beginning of year	11,899			—			—			11,899
Cash, end of period	$	19,439		$	—		$	—		$	19,439

SUPPLEMENTAL_CASH_FLOW_INFORMA

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Sep. 30, 2013
Supplemental Cash Flow Elements [Abstract]	'
SUPPLEMENTAL CASH FLOW INFORMATION	'
	SUPPLEMENTAL CASH FLOW INFORMATION
	Supplemental disclosure of cash flow information (in thousands):
		Nine Months Ended
		September 30,
		2013			2012
	Cash (paid) received:				(Restated)
	Interest	$	(1,270	)	$	(1,548	)
	Income tax payments	(933		)	(1,306		)
	Refund of income taxes	100			109
	Dividends declared per common share	$	0.1		$	0.09
	Non-cash activities:
	Repurchases of common stock from employees in exchange for the payment of income taxes and option exercises	$	68		$	1,709
	Issuance of treasury stock for the Company's investment savings plan	273			413
	Common stock issued to a former director in exchange for vested director units	—			135
	Leasehold improvements paid by the landlord	$	1,496		$	—
	Effects from the deconsolidation of Apidos Capital Management, LLC ("Apidos") (1):
	Receivables from managed entities	—			715
	Investment in unconsolidated entities	—			(1,824		)
	Other assets	—			20
	Accrued expenses and other liabilities	—			(938		)
	-1	Reflects the deconsolidation of Apidos during the nine months ended September 30, 2012. As a result of the deconsolidation of this entity, the amounts noted above were removed from the Company’s consolidated balance sheets.  The sum of the assets removed and cash equated to the sum of the liabilities and equity that were similarly eliminated and, as such, there was no change in the Company’s total net assets.

FINANCING_RECEIVABLES

FINANCING RECEIVABLES	9 Months Ended
	Sep. 30, 2013
Receivables [Abstract]	'
FINANCING RECEIVABLES	'
	FINANCING RECEIVABLES
	The following table is the aging of the Company’s past due financing receivables (presented gross of allowance for credit losses) as of September 30, 2013 (in thousands):
		30-89 Days			Greater than			Greater than			Total			Current		Total
		Past Due			90 Days			181 Days			Past Due
	Receivables from managed entities
	and related parties: (1)
	Commercial finance investment entities	$	—		$	—		$	43,139		$	43,139		$	61	$	43,200
	Real estate investment entities	447			842			17,201			18,490			3,360		21,850
	Financial fund management entities	17			7			9			33			793		826
	Other	30			59			—			89			51		140
		494			908			60,349			61,751			4,265		66,016
	Rent receivables - real estate	5			14			18			37			63		100
	Total financing receivables	$	499		$	922		$	60,367		$	61,788		$	4,328	$	66,116
	-1	Receivables are presented gross of an allowance for credit losses of $35.7 million related to the Company’s commercial finance investment entities.  The remaining receivables from managed entities and related parties have no related allowance for credit losses.
	The following table is the aging of the Company’s past due financing receivables (presented gross of allowance for credit losses) as of December 31, 2012 (in thousands):
	(Restated)	30-89 Days			Greater than			Greater than			Total			Current		Total
		Past Due			90 Days			181 Days			Past Due
	Receivables from managed entities
	and related parties: (1)
	Commercial finance investment entities	$	—		$	—		$	40,112		$	40,112		$	118	$	40,230
	Real estate investment entities	779			744			17,062			18,585			1,992		20,577
	Financial fund management entities	6			—			47			53			2,140		2,193
	Other	41			—			—			41			137		178
		826			744			57,221			58,791			4,387		63,178
	Rent receivables - real estate	4			10			58			72			40		112
	Total financing receivables	$	830		$	754		$	57,279		$	58,863		$	4,427	$	63,290
	-1	Receivables are presented gross of an allowance for credit losses of $29.6 million, $2.5 million and $457,000 related to the Company’s commercial finance, real estate and financial fund management investment entities, respectively.  The remaining receivables from managed entities and related parties had no related allowance for credit losses.
	The following table summarizes the activity in the allowance for credit losses for all financing receivables (in thousands):
		Receivables			Leases and Loans			Rent			Total
		from Managed						Receivables
		Entities
	Three Months Ended September 30, 2013:
	Balance, beginning of period	$	34,587		$	—		$	29		$	34,616
	Provision for (reversal of) credit losses	1,810			(18		)	16			1,808
	Charge-offs	(669		)	—			(13		)	(682		)
	Recoveries	—			18			—			18
	Balance, end of period	$	35,728		$	—		$	32		$	35,760
	Nine Months Ended September 30, 2013:
	Balance, beginning of year	$	32,560		$	—		$	68		$	32,628
	Provision for (reversal of) credit losses	3,817			(25		)	1			3,793
	Charge-offs	(669		)	—			(37		)	(706		)
	Recoveries	20			25			—			45
	Balance, end of period	$	35,728		$	—		$	32		$	35,760
	Ending balance, individually evaluated for impairment	$	35,728		$	—		$	—		$	35,728
	Ending balance, collectively evaluated for impairment	—			—			32			32
	Balance, end of period	$	35,728		$	—		$	32		$	35,760
	Three Months Ended September 30, 2012:
	Balance, beginning of period	$	21,249		$	—		$	25		$	21,274
	Provision for (reversal of) credit losses	6,331			(3		)	8			6,336
	Recoveries	—			3			—			3
	Balance, end of period	$	27,580		$	—		$	33		$	27,613
	Nine Months Ended September 30, 2012:
	Balance, beginning of year	$	12,575		$	—		$	29		$	12,604
	Provision for credit losses	15,005			(13		)	4			14,996
	Charge-offs	—			—			—			—
	Recoveries	—			13			—			13
	Balance, end of period	$	27,580		$	—		$	33		$	27,613
	Ending balance, individually evaluated for impairment	$	27,580		$	—		$	—		$	27,580
	Ending balance, collectively evaluated for impairment	—			—			33			33
	Balance, end of period	$	27,580		$	—		$	33		$	27,613
	The Company’s financing receivables (presented gross of allowance for credit losses) as of September 30, 2013 relate to the balance in the allowance for credit losses, as follows (in thousands):
		Receivables from			Rent			Total
		Managed Entities			Receivables
Ending balance, individually evaluated for impairment	$	66,016		$	—		$	66,016
Ending balance, collectively evaluated for impairment	—			100			100
Balance, end of period	$	66,016		$	100		$	66,116
The Company’s financing receivables (presented gross of allowance for credit losses) as of December 31, 2012 relate to the balance in the allowance for credit losses, as follows (in thousands):
	Receivables from			Rent			Total
	Managed Entities			Receivables
	(Restated)
Ending balance, individually evaluated for impairment	$	63,178		$	—		$	63,178
Ending balance, collectively evaluated for impairment	—			112			112
Balance, end of year	$	63,178		$	112		$	63,290
The following table discloses information about the Company’s impaired financing receivables (in thousands):
	Net			Unpaid Balance			Specific Allowance			Average Investment in Impaired Assets
	Balance
As of September 30, 2013
Financing receivables with a specific valuation allowance:
Receivables from managed entities – commercial finance	$	3,170		$	38,898		$	35,728		$	38,853
Rent receivables – real estate	—			32			32			46
As of December 31, 2012
Financing receivables with a specific valuation allowance:
Receivables from managed entities – commercial finance	$	8,633		$	38,219		$	29,586		$	38,110
Receivables from managed entities – real estate	2,291			4,808			2,517			4,630
Receivable from managed entities - financial fund management	848			1,305			457			1,305
Rent receivables – real estate	—			68			68			40
The Company had no impaired financing receivables without a specific allowance as of September 30, 2013 and December 31, 2012.

INVESTMENTS_IN_REAL_ESTATE_Not

INVESTMENTS IN REAL ESTATE (Notes)	9 Months Ended
	Sep. 30, 2013
Schedule of Investments [Abstract]	'
INVESTMENTS IN REAL ESTATE	'
	INVESTMENTS IN REAL ESTATE
	The Company’s investments in real estate, net, consist of the following (in thousands):
		September 30,		December 31,
		2013		2012
	Properties owned, net of accumulated depreciation of $8,373 and $7,972:
	Hotel property (Savannah, Georgia)	$	10,668	$	11,107
	Office building (Philadelphia, Pennsylvania)	795		1,058
		11,463		12,165
	Partnerships and other investments	5,665		5,876
	Total investments in real estate, net	$	17,128	$	18,041
	The contractual future minimum rental income on non-cancelable operating leases included in properties owned for each of the five succeeding annual periods ending September 30, and thereafter, is as follows (in thousands):
	2014	$	966
	2015	848
	2016	594
	2017	518
	2018	492
	Thereafter	662
		$	4,080

INVESTMENT_SECURITIES

INVESTMENT SECURITIES	9 Months Ended
	Sep. 30, 2013
Investments, Debt and Equity Securities [Abstract]	'
INVESTMENT SECURITIES	'
	INVESTMENT SECURITIES
	Components of investment securities are as follows (in thousands):
		September 30,		December 31, 2012
		2013
				(Restated)
	Available-for-sale securities	$	6,086	$	5,211
	Trading securities	3,672		5,365
	Total investment securities, at fair value	$	9,758	$	10,576
	Available-for-sale securities.  The following table discloses the pre-tax unrealized gains (losses) relating to the Company’s investments in available-for-sale securities (in thousands):
		Cost or		Unrealized			Unrealized				Fair Value
		Amortized Cost		Gains			Losses
	September 30, 2013:
	CLO securities	$	4,970	$	1,000		$	(313	)		$	5,657
	Equity securities	208		227			(6		)		429
	Total	$	5,178	$	1,227		$	(319	)		$	6,086
	December 31, 2012:	(Restated)
	CLO securities	$	3,712	$	1,290		$	—			$	5,002
	Equity securities	109		100			—				209
	Total	$	3,821	$	1,390		$	—			$	5,211
	CLO securities.  The collateralized loan obligation ("CLO") securities represent the Company’s retained equity interests in eight and five CLO issuers that it directly and/or through its joint venture has structured and managed at September 30, 2013 and December 31, 2012, respectively.  The fair value of these retained interests is impacted by the fair value of the investments held by the respective CLO issuers, which are sensitive to interest rate fluctuations and credit quality determinations. The Company is required to maintain a minimum investment of $2.0 million (par value) in the subordinated notes of one of the CLO issuers, Apidos CLO II.
	Equity securities.  The Company also holds 18,972 shares of The Bancorp, Inc. ("TBBK") (NASDAQ: TBBK) common stock.  These investments are pledged as collateral for the Company’s secured corporate credit facilities. During the three months ended March 31, 2013, the Company purchased 10,000 shares of Resource Real Estate Diversified Income Fund, a new publicly traded investment entity that it sponsored and manages ("RREDX") (NASDAQ: RREDX), for $100,000.
	Trading securities.  The Company began purchasing investment securities classified as trading securities during fiscal 2013. For the three and nine months ended September 30, 2013, the Company had net realized gains from sales of trading securities of $2.8 million and $4.6 million, respectively, as well as unrealized gains of $289,000 and $774,000, respectively, which were included in Financial Fund Management Revenues on the consolidated statements of operations. For the three and nine months ended September 30, 2012, the Company had unrealized gains on trading securities of $933,000 and $1.1 million, respectively.
	Unrealized losses, along with the related fair values and aggregated by the length of time the investments were in a continuous unrealized loss position, are as follows (in thousands, except number of securities):
		Less than 12 Months								More than 12 Months
		Fair Value		Unrealized			Number of Securities			Fair Value			Unrealized		Number of Securities
				Loss									Loss
	September 30, 2013:
	CLO securities	$	2,289	$	(313	)	3			$	—		$	—	—
	Equity securities	94		(6		)	1			—			—		—
	Total	$	2,383	$	(319	)	4			$	—		$	—	—
	Other-than-temporary impairment losses. During the nine months ended September 30, 2013 and 2012, the Company recorded charges of $214,000 and $74,000, respectively, for the other-than-temporary impairment of certain of its investments in CLOs, primarily those with investments in bank loans.

INVESTMENTS_IN_UNCONSOLIDATED_

INVESTMENTS IN UNCONSOLIDATED ENTITIES AND LOAN MANAGER	9 Months Ended
	Sep. 30, 2013
Equity Method Investments and Joint Ventures [Abstract]	'
INVESTMENTS IN UNCONSOLIDATED ENTITIES AND LOAN MANAGER	'
	INVESTMENTS IN UNCONSOLIDATED ENTITIES AND LOAN MANAGER
	As a specialized asset manager, the Company develops various types of investment vehicles, which it manages under long-term management agreements or similar arrangements.  The following table details the Company’s investments in these vehicles, including the range of ownership interests owned (in thousands, except percentages):
		Range of Combined		September 30,				December 31, 2012
		Ownership Interests		2013
	Real estate investment entities	1% – 12%		$	8,348			$	8,397
	Financial fund management partnerships	3% − 50%		4,653				3,847
	Trapeza entities	33% − 50%		898				912
	Investments in unconsolidated entities			$	13,899			$	13,156
	In January 2013, the Company sold its 10% interest in a real estate joint venture to its partner for $3.0 million and recognized a gain of $1.6 million. The Company will continue to manage the asset and will receive property management fees in the future.
	Two of the structured finance entities that hold investments in trust preferred assets (“Trapeza entities”) that have incentive distributions, also known as carried interests, are subject to a potential clawback to the extent that such distributions exceed the cumulative net profits of the entities, as defined in the respective partnership agreements (see Note 17).  The general partner of those entities is equally owned by the Company and its co-managing partner.  Performance-based incentive fees in interim periods are recorded based upon a formula as if the contract were terminated at that date.  On a annual basis (interim measurement date), the Company quantifies the cumulative net profits/net losses (as defined under the Trapeza partnership agreements) and allocates income/loss to the limited and general partners according to the terms of such agreements. In the three months ended September 30, 2013, the general partner began the process of dissolving the two partnerships, and settled the clawback commitments.  The Company’s proportionate share of these payments was $1.1 million. The clawback liability was $1.2 million at December 31, 2012.
	Included in investments in unconsolidated entities is the Company's $2.5 million investment in Resource Real Estate Opportunity REIT, Inc. (“RRE Opportunity REIT”), a fund that is in the offering stage until December 2013. The Company accounts for its investment in RRE Opportunity REIT on the cost method since the Company owns less than 1% of the shares outstanding. The Company evaluates all of these investments for impairment on a quarterly basis. There were no identified events that had a significant adverse effect on these investments and, as such, no impairment has been recorded.
	Investment in Unconsolidated Loan Manager. Until the Company sold its Apidos Capital Management, LLC (“Apidos”) CLO business to CVC Capital Partners SICAV-FIS, S.A., a private equity firm (“CVC”) on April 17, 2012, the operations of Apidos were included in the Company's consolidated results. Thereafter, the Company has recorded its 33% equity share of the results of the joint venture, CVC Credit Partners, LLC ("CVC Credit Partners"), which includes the Apidos operations, in Financial Fund Management Revenues on the consolidated statements of operations and comprehensive loss. Included in costs and expenses for CVC Credit Partners for the nine months ended September 30, 2013 are offering costs associated with a new European investment fund that will hold sub-investment grade European debt. Summarized operating data for CVC Credit Partners is presented below (in thousands):
		Three Months Ended				Nine Months Ended
		September 30, 2013				September 30, 2013
	Management fee revenues	$	10,413			$	34,502
	Costs and expenses	(8,618		)		(32,388		)
	Net income	$	1,795			$	2,114
	Portion of net income attributable to the Company	$	593			$	698
						For the Period
		Three Months Ended				from April 17 to
		September 30, 2012				September 30, 2012
	Management fee revenues	$	6,781			$	11,886
	Costs and expenses	(5,641		)		(10,163		)
	Net income	$	1,140			$	1,723
	Portion of net income attributable to the Company	$	376			$	568
	As a part of the transactions in forming the CVC Credit Partners joint venture, the Company received a preferred interest in Apidos (which became a subsidiary of CVC Credit Partners) relating to incentive management fees on pre-joint venture CLOs managed by Apidos. The Company accounts for this interest, with a book value of $6.8 million at September 30, 2013, on the cost method. As these fees are received, in accordance with its preferred interest, the Company receives a distribution of 75% of those amounts which will initially be recorded as income, net of any contractual amounts due to third-parties. On a quarterly basis, the Company will evaluate the investment for impairment by estimating the fair value of the expected future cash flows from the incentive management fees. If the estimated fair value is less than the cost basis of the interest, the preferred interest will be deemed to be impaired. If the Company determines that the shortfall is other-than-temporary, the impairment will be recorded as a reduction of the preferred interest by reducing the revenues previously recorded on these preferred shares. To the extent that the investment in preferred equity has been reduced to zero, all subsequent distributions will be recorded as income.

ACCRUED_EXPENSES_AND_OTHER_LIA

ACCRUED EXPENSES AND OTHER LIABILITIES	9 Months Ended
	Sep. 30, 2013
Payables and Accruals [Abstract]	'
ACCRUED EXPENSES AND OTHER LIABILITIES	'
	ACCRUED EXPENSES AND OTHER LIABILITIES
	The following is a summary of the components of accrued expenses and other liabilities (in thousands):
		September 30,		December 31,
		2013		2012
				(Restated)
	Accounts payable and other accrued liabilities	$	14,526	$	8,773
	SERP liability (see Note 14)	6,273		6,806
	Accrued wages and benefits	4,284		4,428
	Due to broker	2,530		—
	Trapeza clawback (see Note 17)	—		1,181
	Real estate loan commitment	—		371
	Total accrued expenses and other liabilities	$	27,613	$	21,559

BORROWINGS

BORROWINGS	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
BORROWINGS	'
	BORROWINGS
	The credit facilities and other debt of the Company and related borrowings outstanding are as follows (in thousands):
		As of September 30, 2013				December 31, 2012
		Maximum Amount		Borrowings Outstanding		Borrowings Outstanding
		of Facility
	Credit facilities:					(Restated)
	TD Bank – secured revolving credit facility (1)	$	6,997	$	—	$	—
	Republic Bank – secured revolving credit facility	3,500		—		—
				—		—
	Other Debt:
	Senior Notes			10,000		10,000
	Mortgage debt			10,335		10,473
	Other debt			45		567
	Total borrowings			$	20,380	$	21,040
	-1	The amount of the facility as shown has been reduced for the outstanding letter of credit of $503,000 at September 30, 2013 and December 31, 2012.
	Credit Facilities
	TD Bank, N.A. (“TD Bank”).  On November 19, 2012, the Company amended its agreement with TD Bank to extend the maturity of the TD Bank facility to December 31, 2014, to set the interest rate on borrowings as either (a) the prime rate of interest plus 2.25% or (b) the London Interbank Offered Rate ("LIBOR") plus 3% and to eliminate the previous floor of 6.0%. The LIBOR rate used varies from one to six months, depending upon the period of the borrowing, at the Company's election. The Company is charged an annual fee of 0.5% on the unused facility amount as well as a 5.25% fee on the $503,000 outstanding letter of credit.
	Borrowings are secured by a first priority security interest in certain of the Company's assets and the guarantees of certain subsidiaries, including (i) the present and future fees and investment income earned in connection with the management of, and investments in, sponsored CDO issuers, (ii) a pledge of 18,972 shares of TBBK common stock, and (iii) the pledge of 2,080,482 shares of RSO common stock.  Availability under the facility is limited to the lesser of (a) 75% of the net present value of future RSO base management fees to be earned or (b) the maximum revolving credit facility amount.
	There were no borrowings outstanding as of or during the three months ended September 30, 2013 and September 30, 2012 on the secured credit facility and the availability on the facility was $7.0 million, as reduced for outstanding letters of credit at September 30, 2013. Weighted average borrowings on the line of credit for the nine months ended September 30, 2013 and September 30, 2012 were $198,000 and $3.1 million at weighted average borrowing rates of 2.4% and 6.0%.
	Republic First Bank (“Republic Bank”). In February 2011, the Company entered into a $3.5 million revolving credit facility with Republic Bank.  The facility bears interest at the prime rate of interest plus 1% with a floor of 4.5%.  The loan is secured by a pledge of 700,000 shares of RSO stock and a first priority security interest in the office building the Company owns in Philadelphia, Pennsylvania.  Availability under this facility is limited to the lesser of (a) the sum of (i) 25% of the appraised value of the office building, based upon the most recent appraisal and (ii) 100% of the cash and 75% of the market value of the pledged RSO shares held in the pledged account; and (b) 100% of the cash and 100% of the market value of the pledged RSO shares held in the pledged account.  The Company also is charged an unused annual facility fee equal to 0.25%. In October 2012, the Company amended this facility to extend the maturity date to December 28, 2014. There were no borrowings under this facility during the three and nine months ended September 30, 2013 and 2012 and the availability as of September 30, 2013 was $3.5 million. In November 2013, the Company amended the facility with Republic to extend the maturity until December 28, 2016 and increase the unused fee to 0.50%.
	Senior Notes
	In December 2012, the Company modified the terms of $10.0 million of its 9% Senior Notes that remain outstanding (following the partial repayment referred to below) to extend the maturity date from October 2013 to March 31, 2015. In connection with the modification, the Company paid a modification incentive payment equal to 1.0% of the aggregate principal amount of each note. The detachable 5-year warrants to purchase 3,690,195 shares of common stock issued with the original notes were unaffected and, as of September 30, 2013, 3,444,607 remain outstanding. The Company had accounted for these warrants as a discount to the original notes. The effective interest rates for the three and nine months ended September 30, 2013 were 9.7% and 9.8%, respectively. The effective interest rate for the three and nine months ended September 30, 2012 were 9.3% and 9.3%, respectively.
	Per the Senior Note agreement, the Company was restricted from paying dividends in excess of $0.03 per share. During the quarter ended September 30, 2013, the holders of the senior notes consented to remove the restriction and the Company increased its quarterly dividend to $0.04 per share.
	Debt repayments
	Annual principal payments on the Company’s aggregate borrowings for the next five succeeding annual periods ending September 30, and thereafter, are as follows (in thousands):
	2014	$	240
	2015	10,208
	2016	220
	2017	237
	2018	252
	Thereafter	9,223
		$	20,380
	Covenants
	The TD Bank credit facility is subject to certain financial covenants, which are customary for the type and size of the facility, including debt service coverage and debt to equity ratios. The debt to equity ratio restricts the amount of recourse debt the Company can incur based on a ratio of recourse debt to net worth.
	The mortgage on the Company's hotel property contains financial covenants related to the net worth and liquid assets of the Company. Although non-recourse in nature, the loan is subject to limited standard exceptions (or “carveouts”) which the Company has guaranteed.  These carveouts will expire as the loan is paid down over the next ten years.  The Company has control over the operations of the underlying property, which mitigates the potential risk associated with these carveouts and, accordingly, no liabilities for these obligations have been recorded in the consolidated financial statements.  To date, the Company has not been required to make any carveout payments.
	The Company was in compliance with all of its financial debt covenants as of September 30, 2013.

ACCUMULATED_OTHER_COMPREHENSIV

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 30, 2013
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]	'
ACCUMULATED OTHER COMPREHENSIVE LOSS	'
	ACCUMULATED OTHER COMPREHENSIVE LOSS
	Included in Accumulated other comprehensive loss as of December 31, 2012 were net unrealized losses of $4,000 (net of tax benefit of $2,000) related to hedging instruments held by the investment funds sponsored by LEAF Financial, in which the Company owns an equity interest. In addition, at September 30, 2013 and December 31, 2012, the Company had a net unrealized loss of $4,000 (net of tax benefit of $2,000) and $10,000 (net of tax benefit of $7,000), respectively, included in Accumulated other comprehensive loss for the hedging activity of LEAF. Except for hedging activity related to RSO (see Note 19), the Company has no other hedging activity as of September 30, 2013.
	The following are changes in accumulated other comprehensive loss by category (in thousands):
		Investment Securities			Cash Flow Hedges			SERP Pension			Total
		Available-for-Sale						Liability
		(Restated)									(Restated)
	Balance, December 31, 2012, net of tax of $544, $(10) and $(2,326)	$	847		$	(14	)	$	(3,030	)	$	(2,197	)
	Other comprehensive (loss) income before reclassifications	(433		)	10			—			(423		)
	Amounts reclassified from accumulated other comprehensive income (1)	131			—			179			310
	Net current-period other comprehensive (loss) income	(302		)	10			179			(113		)
	Balance, September 30, 2013, net of tax of $364, $(2), and $(2,221)	$	545		$	(4	)	$	(2,851	)	$	(2,310	)
	-1	Amounts reclassified from accumulated other comprehensive income are included in the following line items on the consolidated statements of operations:
	Investment securities available-for-sale - included in Other-than-temporary impairment on investments
	Cash flow hedges - included in Revenues - commercial finance
	SERP pension liability - included in General and administrative expenses

EARNINGS_LOSS_PER_SHARE

EARNINGS (LOSS) PER SHARE	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
EARNINGS PER SHARE	'
	EARNINGS PER SHARE
	Basic earnings per share (“Basic EPS”) is computed using the weighted average number of common shares outstanding during the period, inclusive of nonvested share-based awards that are entitled to receive non-forfeitable dividends.  The diluted earnings (loss) per share (“Diluted EPS”) computation takes into account the effect of potential dilutive common shares.  Potential common shares, consisting primarily of outstanding stock options, warrants and director deferred shares, are calculated using the treasury stock method.
	The following table presents a reconciliation of the shares used in the computation of Basic EPS and Diluted EPS (in thousands):
		Three Months Ended		Nine Months Ended
		September 30,		September 30,
		2013	2012	2013	2012
	Shares
	Basic shares outstanding	20,342	20,102	20,255	19,786
	Dilutive effect of outstanding stock options, warrants and director units	1,530	—	1,676	1,059
	Dilutive shares outstanding	21,872	20,102	21,931	20,845
	For the three months ended September 30, 2012, the Basic EPS and Diluted EPS shares were the same because the impact of potential dilutive securities would have been antidilutive.  Excluded from Diluted EPS for the three months ended September 30, 2012 were outstanding options to purchase 1.0 million shares of common stock at a weighted average exercise price of $16.26, as well as outstanding warrants to purchase 3.7 million shares of common stock at an average price of $5.10.

BENEFIT_PLANS

BENEFIT PLANS	9 Months Ended
	Sep. 30, 2013
Compensation and Retirement Disclosure [Abstract]	'
BENEFIT PLANS	'
	BENEFIT PLANS
	Supplemental Employment Retirement Plan ("SERP"). The Company established a SERP, which has Rabbi and Secular Trust components, for Mr. Edward E. Cohen (“Mr. E. Cohen”), while he was the Company’s Chief Executive Officer ("CEO").  The Company pays an annual benefit equal to $838,000 during his lifetime or for a period of 10 years from June 2004, whichever is longer.  The components of net periodic benefit costs for the SERP were as follows (in thousands):
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2013			2012			2013			2012
	Interest cost	$	57		$	85		$	169		$	245
	Less: expected return on plan assets	(25		)	(17		)	(75		)	(52		)
	Plus: Amortization of unrecognized loss	95			130			285			295
	Net benefit cost	$	127		$	198		$	379		$	488

CERTAIN_RELATIONSHIPS_AND_RELA

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2013
Related Party Transactions [Abstract]	'
CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS	'
	CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
	In the ordinary course of its business operations, the Company has sponsored and manages investment entities.  Additionally, it has ongoing relationships with several related entities.  The following table details these receivables and payables (in thousands):
		September 30,			December 31,
		2013			2012
	Receivables from managed entities and related parties, net:				(Restated)
	Real estate investment entities	$	21,850		$	18,060
	Commercial finance investment entities (1)	7,472			10,644
	Financial fund management investment entities	826			1,736
	Other	140			178
	Receivables from managed entities and related parties	$	30,288		$	30,618
	Payables due to managed entities and related parties, net:
	Real estate investment entities (2)	$	2,857		$	3,300
	Other	180			236
	Payables to managed entities and related parties	$	3,037		$	3,536
	-1	Includes $35.7 million and $29.6 million of reserves, respectively, for credit losses related to management fees owed from three commercial finance investment entities that, based on changes in the estimated cash distributions, are not expected to be collectible.
	-2	Includes $2.9 million and 2.5 million, respectively, in funds provided by the real estate investment entities, which are held by the Company to self insure the properties held by those entities.
	The Company receives fees, dividends and reimbursed expenses from several related or managed entities.  In addition, the Company reimburses related entities for certain operating expenses.  The following table details those activities (in thousands):
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2013			2012			2013			2012
	Fees from unconsolidated investment entities:
	Real estate (1)	$	6,726		$	4,439		$	16,273		$	13,533
	Financial fund management	801			715			2,335			2,333
	Commercial finance (2)	—			—			—			—
	CVC Credit Partners – reimbursement of costs and expenses	295			514			979			1,866
	RRE Opportunity REIT:
	Reimbursement of costs and expenses	204			89			605			769
	Dividends paid	28			—			85			14
	LEAF:
	Payment for sub-servicing the commercial finance investment	(197		)	(476		)	(743		)	(1,767		)
	partnerships
	Payment for rent and related expenses	(144		)	(189		)	(543		)	(566		)
	Reimbursement of costs and expenses	53			62			168			228
	1845 Walnut Associates Ltd:
	Payment for rent and related expenses	(286		)	(168		)	(476		)	(531		)
	Property management fees	32			—			149			—
	Brandywine Construction & Management, Inc. – payment for	(54		)	(49		)	(167		)	(157		)
	property management fees for the hotel property
	Atlas Energy, L.P. – reimbursement of costs and expenses	49			156			243			465
	Ledgewood P.C. – payment for legal services	(76		)	(56		)	(180		)	(409		)
	Graphic Images, LLC – payment for printing services	(20		)	(80		)	(59		)	(208		)
	The Bancorp, Inc. – reimbursement of costs and expenses	29			29			85			90
	9 Henmar, LLC – payment of broker/consulting fees	(4		)	(4		)	(24		)	(28		)
	-1	Includes discounts recorded by the Company of $56,000 and $169,000 recorded in the three and nine months ended September 30, 2013, respectively, and $31,000 and $140,000 in the three and nine months ended September 30, 2012, in connection with management fees from its real estate investment entities that are expected to be received in future periods.
	-2	During the three and nine months ended September 30, 2013, the Company waived $410,000 and $1.5 million, respectively, and $883,000 and $3.2 million during the three and nine months ended September 30, 2012, respectively, of fund management fees from its commercial finance investment entities.
	Relationship with 1845 Walnut Associates, Ltd. The Company owns a 7% investment in a real estate partnership that owns a parking garage and a building at 1845 Walnut Street, Philadelphia in which the Company also leases office space. In October 2012, the Company signed a new ten-year lease which was amended in May 2013 and commenced in August 2013 for 34,476 square feet of office space. The Company was provided a tenant allowance of $1.5 million for renovation of the office and the lease provides for a five-year extension. In March 2013, the Company assumed the property management of the building.
	Advances to Affiliated Real Estate Limited Partnership. During fiscal 2012, the Company agreed to advance up to $3.0 million to an affiliated real estate limited partnership under a revolving note, bearing interest at the prime rate.  Amounts drawn, which are due upon demand, were $2.6 million and $2.5 million as of September 30, 2013 and December 31, 2012, respectively, and are included in Receivables from managed entities and related parties. The Company recorded $17,000 and $53,000 of interest income on this loan during the three and nine months ended September 30, 2013, respectively, and $4,000 and $40,000 during the three and nine months ended September 30, 2012, respectively.

FAIR_VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
FAIR VALUE	'
	FAIR VALUE
	In analyzing the fair value of its assets and liabilities accounted for on a fair value basis, the Company follows the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Assets and liabilities are categorized into one of three levels based on the assumptions (inputs) used in valuing the asset or liability. Level 1 provides the most reliable measure of fair value, while Level 3 generally requires significant management judgment. The three levels are defined as follows:
	Level 1 − Quoted prices in active markets for identical assets and liabilities that the reporting entity has the ability to access at the measurement date.
	Level 2 − Observable inputs other than quoted prices included within Level 1, such as quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets.
	Level 3 − Unobservable inputs that reflect the entity's own assumptions about the assumptions that market participants would use in the pricing of the asset or liability and that are, consequently, not based on market activity, but upon particular valuation techniques.
	There were no transfers between any of the Levels within the fair value hierarchy for any of the periods presented.
	The following is a discussion of the assets and liabilities that are recorded at fair value on a recurring and non-recurring basis, as well as the valuation techniques applied to each fair value measurement and the estimates and assumptions used by the Company in those measurements.
	Receivables from managed entities. The Company recorded a discount on certain of its receivable balances due from its real estate and commercial finance managed entities due to the extended term of the repayment to the Company. The discount was computed based on estimated inputs, including the repayment term (Level 3).
	For the real estate managed entity receivables, the Company assumes the fair value of the real estate investment funds through the sale of the underlying properties. The net proceeds are applied first to the payoff of the lenders and then to the payment of distributions due to investors; any balance remaining is then available to repay the amounts due to the Company. The balance sheet date fair values of the properties are individually calculated based on capitalized net operating income, which are derived from capitalization rates from a third-party research firm (for the region in which the properties are located, based on actual sales data for properties sold during the past year) as applied to the Company's internally-generated projected operating results for each of the respective properties. These projections are historically based on and are adjusted for current trends in the marketplace and specific changes as applicable by property.
	With respect to the commercial finance partnership receivables, management projects the availability of excess cash flow at the individual investment entity to repay the Company's receivable. In determining the excess cash flow, management starts with the gross future payments due on leases and loans for each of the funds, which are fixed and determinable, net of debt service and expected credit losses, which are estimated based on a migration analysis which is calculated based on historical data across the entire portfolio of leases and loans. This analysis estimates the likelihood that an account will progress through delinquency stages to ultimate charge-off. After an account becomes 180 or more days past due, any remaining balance is fully reserved, less an estimated recovery amount based on the historical trends of the funds (in the range of 8.7% to 12.5%). Cash is first applied to the payoff of the underlying principal and interest on debt used to purchase the portfolios. The projected cash flows also take into consideration the receipt of other income (such as late fees or residual gains), the payment of general and administrative expenses of the funds and distributions to limited partners. The remaining excess cash is then available to repay the amounts due to the Company.
	Investment securities − equity securities. The Company uses quoted market prices (Level 1) to value its investments in TBBK and RREDX common stock.
	Investment securities − trading securities (Level 3). The Company holds four securities within its trading portfolio, all of which are either debt or equity investments in externally managed CDOs. Each of the four CDOs is in the process of being liquidated and the Company has valued each as follows based on their unique circumstances:
	•	One security was redeemed at par subsequent to September 30, 2013 and was valued as such;
	•	One security holds cash as its sole remaining asset and, therefore, was valued at the Company’s pro-rata ownership percentage of this asset;
	•	Two securities were valued using a discounted net asset value (“NAV”) approach.  NAV represents the remaining cash flows to the equity holders of the CDO once all obligations are paid in full.  This analysis involves the review of trustee note valuation reports, which quantitatively report CDO payments and collateral performance, and the use of financial software which provides the terms of the CDO’s structure as well as market data to be used comparatively. A discount is applied to NAV to account for uncertainties such as timing of cash to be returned, unforeseen expenses of the CDO, and general compensation that an investor would look for in making such an investment.  The typical range of discounts for such uncertainties ranges from 5% to 8%; however, for one of the Company’s positions a 15% discount rate was applied due to the complexity associated with its projected liquidation.
	Investment securities − CLO securities. The fair value of CLO securities is based on internally generated expected cash flow models that require significant management judgments and estimates due to the lack of market activity and unobservable pricing inputs. Unobservable inputs into these models include default, recovery, discount and deferral rates, prepayment speeds and reinvestment interest spreads (Level 3).
	The significant unobservable inputs used in the fair value measurement of the Company's CLO securities are prepayment rates, probability of default, loss severity rate, reinvestment price on underlying collateral and the discount rate. Significant increases (decreases) in the default or discount rates in isolation would result in a significantly lower (higher) fair value measurement, whereas significant increases (decreases) in the recovery rate, prepayment rate or reinvestment price in isolation would result in a significantly higher (lower) fair value measurement.  Generally, a change in the assumption used for the probability of default is accompanied by a directionally similar change in the assumption used for the discount rate and a directionally opposite change in the assumption used for prepayment rates, recovery rates and reinvestment prices on underlying collateral.
	Investment in real estate. During fiscal 2012, the Company received an offer for the sale of one of its assets included in Investments in Real Estate. The offer was below the book value of the asset and, accordingly, the Company recorded an impairment charge during 2012 (Level 2). The property was sold in November 2012.
	Investment in real estate - office building. The Company's investment in an office building, located in Philadelphia, Pennsylvania was determined to be impaired during 2012. The Company determined the fair value of the building using an estimate of the loan to value based on stabilized projected cash flows (Level 3).
	Investment in CVC Credit Partners. The Company utilized a third-party valuation firm to value its investment in CVC Credit Partners and its preferred interest as of its formation on April 17, 2012. The joint venture investment was valued at $28.6 million based on the weighted average of several calculations, including implied transaction, dividend discount, discounted cash flow, and guideline public company models. The valuation models required assumptions and estimates of many critical factors, including revenue and market growth, operating cash flows, market multiples, and discount rates, which took into consideration the current economic environment and credit market conditions (Level 3).
	Investment in Apidos-CVC preferred interest and contractual commitment. The Company's preferred interest in Apidos-CVC, initially valued at $6.8 million, as well as the corresponding contractual commitment, initially valued at $589,000, were both based on the present value of the underlying discounted projected cash flows of the legacy Apidos incentive management fees (Level 3).
	As of September 30, 2013, the fair values of the Company’s assets recorded at fair value on a recurring basis were as follows (in thousands):
		Level 1			Level 2			Level 3		Total
	Assets:
	Investment securities	$	429		$	—		$	9,329	$	9,758
	As of December 31, 2012, the fair values of the Company’s assets recorded at fair value on a recurring basis were as follows (in thousands):
		Level 1			Level 2			Level 3		Total
	Assets:	(Restated)								(Restated)
	Investment securities	$	209		$	—		$	10,367	$	10,576
	The following table presents additional information about assets which were measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value during the nine months ended September 30, 2013 (in thousands):
		Investment Securities
	Balance, beginning of year	$	10,367
	Purchases	9,832
	Income accreted	662
	Payments and distributions received	(10,383		)
	Impairment recognized in earnings	(214		)
	Sales	(5,655		)
	Gain on sales of trading securities	4,551
	Unrealized holding gain on trading securities	773
	Change in unrealized losses included in accumulated other comprehensive loss	(604		)
	Balance, end of period	$	9,329
	The following table presents additional information about assets which were measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value during calendar 2012 (in thousands):
		Investment Securities
		(Restated)
	Balance, beginning of year	$	2,981
	Purchases	11,578
	Income accreted	853
	Payments and distributions received	(3,201		)
	Sales	(4,159		)
	Impairment recognized in earnings	(74		)
	Gains on sales of trading securities	1,216
	Unrealized holding gain on trading securities	1,272
	Change in unrealized losses included in accumulated other comprehensive loss	(99		)
	Balance, end of period	$	10,367
	The following table presents the Company's quantitative inputs and assumptions used in determining the fair value of items categorized in Level 3 (in thousands, except percentages):
		Fair value at September 30, 2013			Valuation Technique		Unobservable Inputs	Weighted
								Average
								Assumptions
	CLO securities	$	5,657		Discounted cash flow		Constant default rate	0% -2%
							Loss severity rate	25%
							Constant prepayment rate- year one	30%
							Constant prepayment rate- year two	25%
							Constant prepayment rate - periods thereafter	25%
						Reinvestment price on collateral	99.75% - 100%
						Discount rates	13.5% - 20%
Trading securities	$	3,672		Discounted cash flow		Discount rates	5% - 15%
The Company recognized the following changes in carrying value of the assets and liabilities measured at fair value on a non-recurring basis, as follows (in thousands):
	Level 1			Level 2			Level 3		Total
Nine Months Ended September 30, 2013:
Asset:
Receivables from managed entities – commercial finance, real estate and financial fund management	$	—		$	—		$	4,883	$	4,883
Liability:
Apidos contractual commitment	$	—		$	—		$	994	$	994
Year Ended December 31, 2012:
Assets:
Receivables from managed entities – commercial finance and real estate	$	—		$	—		$	14,506	$	14,506
Investment in real estate	—			727			—		727
Investment in real estate - office building	—			—			906		906
Investment in CVC Credit Partners	—			—			28,600		28,600
Investment in Apidos-CVC preferred interest	—			—			6,792		6,792
Total	$	—		$	727		$	50,804	$	51,531
Liability:
Apidos contractual commitment	$	—		$	—		$	589	$	589
The fair value of financial instruments required to be disclosed at fair value, excluding instruments valued on a recurring basis, is as follows (in thousands):
	September 30, 2013						December 31, 2012
	Carrying Amount			Estimated Fair Value			Carrying Amount		Estimated Fair Value
Assets:							(Restated)		(Restated)
Receivables from managed entities	$	30,288		$	30,288		30,618		30,618
	$	30,288		$	30,288		$	30,618	$	30,618
Borrowings:
Real estate debt	$	10,335		$	10,869		$	10,473	$	11,398
Senior Notes	10,000			12,223			10,000		11,728
Other debt	45			45			567		567
	$	20,380		$	23,137		$	21,040	$	23,693
For cash, receivables and payables, the carrying amounts approximate fair value because of the short-term maturity of these instruments.
The Company estimated the fair value of the real estate debt using current interest rates for similar loans. The Company estimated the fair value of the Senior Notes by applying the percentage appreciation in a high-yield fund with approximately similar quality and risk attributed to the Senior Notes. The carrying value of the Company's other debt was estimated using current interest rates for similar loans at September 30, 2013 and December 31, 2012.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	COMMITMENTS AND CONTINGENCIES
	LEAF lease valuation commitment. In conjunction with the third-party equity investment in LEAF, the Company and RSO have undertaken a contingent obligation with respect to the equity value of LEAF Receivables Funding 3, LLC (“LRF 3”), the entity that holds the portfolio of equipment, equipment leases and notes that RSO contributed to LEAF. To the extent that the value of the equity on the balance sheet of LRF 3 is less than $18.7 million (the value of the equity of LRF 3 on the date it was contributed to LEAF), as of the final testing date within 90 days after December 31, 2013, the Company and RSO have agreed to be jointly and severally obligated to contribute cash to LEAF to the extent of any shortfall. The LRF 3 equity as of September 30, 2013 was in excess of this commitment and, therefore, the Company has no current liability with respect to this obligation.
	Limited loan guarantee. The Company and two of its commercial finance investment partnerships, Lease Equity Appreciation Fund I, L.P. (“LEAF I”) and Lease Equity Appreciation Fund II, L.P. (“LEAF II”), have provided a limited guarantee to a lender to the LEAF partnerships in exchange for a waiver of any existing defaulted loan covenants and certain future financial covenants. The loans mature at the earlier of (a) the maturity date (March 20, 2014 for LEAF I and December 21, 2013 for LEAF II), or (b) the date on which an event of default under the loan agreement occurs. The maximum guarantee provided by the Company is up to $2.0 million ($1.5 million for LEAF I and $522,000 for LEAF II) as of September 30, 2013. If the Company were required to make any such payments under the guarantee in the future, it would have the option to either step in as the lender or otherwise make a capital contribution to the LEAF partnerships for the amount of the required guarantee payment. Under certain circumstances, the lender will also discount its loans by approximately $250,000 for LEAF I and $347,500 for LEAF II. Management has determined that, based on projected cash flows from the underlying lease and loan portfolios collateralizing the loans, there should be sufficient funds to repay the LEAF partnerships' outstanding loan balances and, accordingly, the Company was not required to record a liability with respect to the guarantee.
	Broker-Dealer Capital Requirement.  Resource Securities serves as a dealer-manager for the sale of securities of direct participation investment programs, both public and private, sponsored by subsidiaries of the Company who also serve as general partners and/or managers of these programs.  Additionally, Resource Securities serves as an introducing agent for transactions involving sales of securities of financial services companies, REITs and insurance companies for the Company and for RSO.  As a broker-dealer, Resource Securities is required to maintain minimum net capital, as defined in regulations under the Securities Exchange Act of 1934, as amended, which was $351,000 and $113,000 as of September 30, 2013 and December 31, 2012, respectively.  As of September 30, 2013 and December 31, 2012, Resource Securities net capital was $1.8 million and $258,000, respectively, which exceeded the minimum requirements by $1.4 million and $145,000, respectively.
	Clawback liability.  On November 1, 2009 and January 28, 2010, the general partners of two of the Trapeza entities, which are owned equally by the Company and its co-managing partner, repurchased substantially all of the remaining limited partnership interests in the two Trapeza entities with potential clawback liabilities for $4.4 million.  The Company contributed $2.2 million (its 50% share).  The clawback liability was $1.2 million at December 31, 2012. In the three months ended September 30, 2013, the general partner began the process of dissolving the two partnerships, and settled the clawback commitments.  The Company’s proportionate share of these payments was $1.1 million.
	Legal proceedings. In September 2011, First Community Bank (“First Community”) filed a complaint against First Tennessee Bank and approximately thirty other defendants consisting of investment banks, rating agencies, collateral managers, including Trapeza Capital Management, LLC (“TCM”), and issuers of CDOs, including Trapeza CDO XIII, Ltd. and Trapeza CDO XIII, Inc. TCM and the Trapeza CDO issuers are collectively referred to as Trapeza. The complaint includes causes of action against TCM for fraud, negligent misrepresentation, violation of the Tennessee Securities Act of 1980 and unjust enrichment. First Community alleges, among other things, that it invested in certain CDOs, that the defendant rating agencies assigned inflated investment grade ratings to the CDOs, and that the defendant investment banks, collateral managers and issuers (including Trapeza) fraudulently and/or negligently made “materially false and misleading representations and omissions” that First Community relied on in investing in the CDOs, including both written representations in offering materials and unspecified oral representations. Specifically, with respect to Trapeza, First Community alleges that it purchased $20.0 million of notes in the D tranche of the Trapeza CDO XIII transaction from J.P. Morgan. The Court dismissed this matter in June 2012. First Community appealed and the appellate court affirmed the dismissal as against Trapeza in August 2013.
	The Company is also a party to various routine legal proceedings arising out of the ordinary course of business. Management believes that none of these actions, individually or, in the aggregate, will have a material adverse effect on the Company's consolidated financial condition or operations.
	General corporate commitments. The Company is also party to employment agreements with certain executives that provide for compensation and other benefits, including severance payments under specified circumstances.
	As of September 30, 2013, except for executive compensation, the Company did not believe it was probable that any payments would be required under any of its commitments and contingencies and, accordingly, no liabilities for these obligations were recorded in the consolidated financial statements.

OPERATING_SEGMENTS

OPERATING SEGMENTS	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
OPERATING SEGMENTS	'
	OPERATING SEGMENTS
	The Company manages its operations and makes business decisions based on three reportable operating segments, Real Estate, Financial Fund Management and Commercial Finance, and one segment, RSO, which is a consolidated VIE.  Certain other activities are reported in the “All Other” category and Eliminations ("Elims") in the tables in order for the information presented about the Company's operating segments to agree to the consolidated balance sheets and statements of operations. Summarized operating segment data are as follows (in thousands):
		Real			Financial Fund Management			Commercial Finance			All Other (1)			Subtotal			RSO			Elims			Total
		Estate
	Three Months Ended September 30, 2013:
	Revenues from external customers	$	15,973		$	7,065		$	—		$	—		$	23,038		$	23,786		$	(5,183	)	$	41,641
	Equity in (losses) earnings of unconsolidated entities	(23		)	1,437			(30		)	—			1,384			—			—			1,384
	Total revenues	15,950			8,502			(30		)	—			24,422			23,786			(5,183		)	43,025
	Segment operating expenses	(11,178		)	(3,547		)	(75		)	—			(14,800		)	(15,554		)	4,861			(25,493		)
	General and administrative expenses	(674		)	(282		)	—			(1,549		)	(2,505		)	—			—			(2,505		)
	Provision for credit losses	(29		)	—			(1,779		)	—			(1,808		)	—			—			(1,808		)
	Depreciation and amortization	(258		)	(13		)	—			(142		)	(413		)	—			—			(413		)
	Interest expense	(209		)	(7		)	1			(315		)	(530		)	—			—			(530		)
	Other income (expense), net	249			557			—			(122		)	684			16,607			(394		)	16,897
	Pretax income attributable to noncontrolling interests (2)	(12		)	—			—			—			(12		)	(23,708		)	—			(23,720		)
	Income (loss) from continuing operations excluding noncontrolling interests before taxes	$	3,839		$	5,210		$	(1,883	)	$	(2,128	)	$	5,038		$	1,131		$	(716	)	$	5,453
		Real			Financial Fund Management			Commercial Finance			All Other (1)			Subtotal			RSO			Elims			Total
		Estate
	Nine Months Ended
	September 30, 2013:
	Revenues from external customers	$	39,777		$	12,129		$	—		$	—		$	51,906		$	76,011		$	(10,608	)	$	117,309
	Equity in (losses) earnings of unconsolidated entities	(334		)	3,105			(243		)	—			2,528			—			—			2,528
	Total revenues	39,443			15,234			(243		)	—			54,434			76,011			(10,608		)	119,837
	Segment operating expenses	(29,514		)	(7,769		)	99			—			(37,184		)	(43,110		)	10,178			(70,116		)
	General and administrative expenses	(2,893		)	(604		)	—			(3,310		)	(6,807		)	—			—			(6,807		)
	Provision for credit losses	2,523			(199		)	(6,117		)	—			(3,793		)	—			—			(3,793		)
	Depreciation and amortization	(805		)	(49		)	—			(464		)	(1,318		)	—			—			(1,318		)
	Other-than-temporary impairment on investments	—			(214		)	—			—			(214		)	—			—			(214		)
	Interest expense	(613		)	(7		)	—			(905		)	(1,525		)	—			—			(1,525		)
	Other income (expense), net	719			1,704			7			(361		)	2,069			16,607			(1,445		)	17,231
	Pretax income attributable to noncontrolling interests (2)	(23		)	—			—			—			(23		)	(44,394		)	—			(44,417		)
	Income (loss) from continuing operations excluding noncontrolling interests before taxes	$	8,837		$	8,096		$	(6,254	)	$	(5,040	)	$	5,639		$	5,114		$	(1,875	)	$	8,878
		Real			Financial Fund Management			Commercial Finance			All Other (1)			Subtotal			RSO			Elims			Total
		Estate
	Three Months Ended September 30, 2012:																						(Restated)
	Revenues from external customers	$	9,135		$	5,136		$	(1	)	$	—		$	14,270		$	35,669		$	(4,988	)	$	44,951
	Equity in earnings (losses) of unconsolidated entities	2,157			947			(166		)	—			2,938			—			—			2,938
	Total revenues	11,292			6,083			(167		)	—			17,208			35,669			(4,988		)	47,889
	Segment operating expenses	(7,684		)	(3,909		)	(103		)	—			(11,696		)	(13,230		)	4,950			(19,976		)
	General and administrative expenses	(86		)	(602		)	—			(1,842		)	(2,530		)	—			—			(2,530		)
	Provision for credit losses	(83		)	—			(6,253		)	—			(6,336		)	—			—			(6,336		)
	Impairment charges	(2,280		)	—			—			—			(2,280		)	—			—			(2,280		)
	Depreciation and amortization	(332		)	(23		)	—			(174		)	(529		)	—			—			(529		)
	Reduction of gain on sale of subsidiary	—			(140		)	—			—			(140		)	—			—			(140		)
	Interest expense	(215		)	—			(15		)	(314		)	(544		)	—			—			(544		)
	Other income (expense), net	128			534			—			(105		)	557			—			(494		)	63
	Pretax loss (income) attributable to noncontrolling interests (2)	36			—			—			—			36			(17,917		)	—			(17,881		)
	Income (loss) from continuing operations excluding noncontrolling interests before taxes	$	776		$	1,943		$	(6,538	)	$	(2,435	)	$	(6,254	)	$	4,522		$	(532	)	$	(2,264	)
		Real Estate			Financial Fund Management			Commercial Finance			All Other (1)			Subtotal			RSO			Elims			Total
	Nine Months Ended September 30, 2012:																						(Restated)
	Revenues from external customers	$	30,102		$	12,787		$	1		$	—		$	42,890		$	90,657		$	(12,733	)	$	120,814
	Equity in earnings (losses) of unconsolidated entities	1,827			2,591			(1,536		)	—			2,882			—			—			2,882
	Total revenues	31,929			15,378			(1,535		)	—			45,772			90,657			(12,733		)	123,696
	Segment operating expenses	(22,477		)	(11,282		)	(451		)	—			(34,210		)	(39,752		)	12,589			(61,373		)
	Restructuring expenses	—			—			—			(365		)	(365		)	—			—			(365		)
	General and administrative expenses	(278		)	(1,814		)	—			(5,472		)	(7,564		)	—			—			(7,564		)
	Provision for credit losses	(238		)	—			(14,758		)	—			(14,996		)	—			—			(14,996		)
	Impairment charges	(2,280		)	—			—			—			(2,280		)	—			—			(2,280		)
	Depreciation and amortization	(980		)	(89		)	—			(523		)	(1,592		)	—			—			(1,592		)
	Gain on deconsolidation and sale of subsidiaries	—			54,542			—			—			54,542			—			—			54,542
	Other-than-temporary impairment on investments	—			(74		)	—			—			(74		)	—			—			(74		)
	Interest expense	(641		)	—			(58		)	(1,068		)	(1,767		)	—			—			(1,767		)
	Other income (expense), net	405			1,527			—			(383		)	1,549			5,464			(1,442		)	5,571
Pretax loss (income) attributable to noncontrolling interests (2)	30			—			—			—			30			(47,892		)	—			(47,862		)
Income (loss) from continuing operations excluding noncontrolling interests before taxes	$	5,470		$	58,188		$	(16,802	)	$	(7,811	)	$	39,045		$	8,477		$	(1,586	)	$	45,936
	Real Estate			Financial Fund Management			Commercial Finance			All			Subtotal			RSO			Total
										Other (1)
Segment assets	(Restated)			(Restated)						(Restated)			(Restated)						(Restated)
September 30, 2013	$	177,314		$	60,105		$	8,747		$	(74,123	)	$	172,043		$	2,271,468		$	2,443,511
September 30, 2012	169,649			60,805			15,497			(78,138		)	167,813			2,320,645			2,488,458
-1	Includes general corporate expenses and assets not allocable to any particular segment.
-2	In viewing its segment operations, management includes the pretax (income) loss attributable to noncontrolling interests.  However, these interests are excluded from income (loss) from operations as computed in accordance with U.S. GAAP and, accordingly, should be deducted to compute income (loss) from operations as reflected in the Company’s consolidated statements of operations.

VARIABLE_INTEREST_ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2013
Variable Interest Entities [Abstract]	'
VARIABLE INTEREST ENTITIES	'
	VARIABLE INTEREST ENTITIES
	In general, a VIE is an entity that does not have sufficient equity to finance its operations without additional subordinated financial support, or an entity for which the risks and rewards of ownership are not directly linked to voting interests. The Company has variable interests in VIEs through its management contracts and investments in various securitization entities, including CDO issuers. Since the Company serves as the asset manager for the investment entities it sponsored and manages, the Company is generally deemed to have the power to direct the activities of the VIE that most significantly impact the entity's economic performance. In the case of an interest in a VIE managed by the Company, the Company will perform an additional qualitative analysis to determine if its interest (including any investment as well as any management fees that qualify as variable interests) could absorb losses or receive benefits that could potentially be significant to the VIE. This analysis considers the most optimistic and pessimistic scenarios of potential economic results that could reasonably be experienced by the VIE. Then, the Company compares the benefits it would receive (in the optimistic scenario) or the losses it would absorb (in the pessimistic scenario) as compared to benefits and losses absorbed by the VIE in total. If the benefits or losses absorbed by the Company were significant as compared to total benefits and losses absorbed by all variable interest holders, then the Company would conclude it is the primary beneficiary.
	VIEs not consolidated
	The Company’s investments in the Trapeza entities and asset-backed securities (“Ischus entities”), were all determined to be VIEs that the Company does not consolidate as it does not have the obligation of, or right to, losses or earnings that would be significant to those entities.  Except for those advances, the Company has not provided financial or other support to these VIEs and has no liabilities, contingent liabilities, or guarantees (implicit or explicit) related to these VIEs at September 30, 2013.
	The following table presents the carrying amounts of the assets in the Company's consolidated balance sheets that relate to the Company's variable interests in identified non-consolidated VIEs and the Company's maximum exposure to loss associated with these VIEs in which it holds variable interests at September 30, 2013 (in thousands):
		Receivables from				Investments				Maximum Exposure
		Managed Entities and								to Loss in
		Related Parties,								Non-consolidated VIEs
		Net (1)
	RRE Opportunity REIT	$	208			$	2,549			$	2,757
	Trapeza entities	—				898				898
	Ischus entities	180				—				180
		$	388			$	3,447			$	3,835
	-1	Exclusive of expense reimbursements due to the Company.
	Consolidated VIE - RSO
	The Company determined that it was the primary beneficiary of RSO, as it has the power to direct the activities of RSO that most significantly impact RSO’s economic performance, and the obligation to absorb losses/right to receive benefits from RSO that could potentially be significant to RSO. As part of its analysis the Company evaluated its duties under the terms of the management agreement and the voting rights provided to RSO’s shareholders which include the right to elect the Company’s board of directors and the ability to terminate the management agreement. The Company concluded that the fee paid to the manager in the event of a termination and the Company’s role in managing the operations of RSO resulted in the Company having the power to direct, as defined in FASB ASC Topic 810. Additionally, the Company prepared a quantitative analysis to measure the management/incentive fees and the Company’s equity ownership position in RSO relative to the anticipated economic performance of RSO. The Company determined its benefits could be significant and therefore concluded that the Company is the primary beneficiary and should consolidate RSO. The assets of RSO are held solely to satisfy RSO’s obligations and the creditors of RSO have no recourse against the assets of the Company.
	The following reflects the detail of the assets and liabilities and operations of RSO, which the Company consolidated and included in its consolidated balance sheets and statements of operations.
	RSO Balance Sheet detail (in thousands):
		September 30, 2013				December 31, 2012
		(Unaudited)				(Unaudited)
	ASSETS (1)
	Cash and cash equivalents	$	144,463			$	85,278
	Restricted cash	59,195				94,112
	Subtotal - Cash and cash equivalents	203,658				179,390
	Investment securities, trading	12,099				24,843
	Investment securities available-for-sale, pledged as collateral, at fair value	173,994				195,200
	Investment securities available-for-sale, at fair value	46,690				36,390
	Subtotal - Investments, at fair value	232,783				256,433
	Loans held for sale	332,351				48,894
	Loans, pledged as collateral and net of allowances of $12.9 million and $17.7 million	1,305,739				1,793,780
	Loans receivable–related party	8,067				8,324
	Subtotal - Loans before eliminations	1,646,157				1,850,998
	Eliminations	(1,570		)		(1,570		)
	Subtotal - Loans	1,644,587				1,849,428
	Investment in real estate	55,144				75,386
	Investments in unconsolidated entities	72,955				45,413
	Subtotal - Investments in real estate and unconsolidated entities before eliminations	128,099				120,799
	Eliminations	—				(93		)
	Subtotal - Investments in real estate and unconsolidated entities	128,099				120,706
	Linked transactions, net at fair value	29,978				6,835
	Interest receivable	8,078				7,763
	Deferred tax asset	3,268				2,766
	Principal paydown receivable	7				25,570
	Intangible assets	11,728				13,192
	Prepaid expenses	4,961				10,396
	Other assets	4,347				4,109
	Subtotal - Other assets before eliminations	62,367				$	70,631
	Eliminations	(26		)		(31		)
	Subtotal - Other assets	62,341				$	70,600
	Total assets - before eliminations	$	2,273,064			$	2,478,251
	Total assets - after eliminations	$	2,271,468			$	2,476,557
	LIABILITIES (2)
	Borrowings	$	1,422,430			$	1,785,600
	Distribution payable	26,796				21,655
	Accrued interest expense	2,708				2,918
	Derivatives, at fair value	12,208				14,687
	Accrued tax liability	4,989				13,641
	Deferred tax liability	7,690				8,376
	Accounts payable and other liabilities	12,829				18,029
	Subtotal - other liabilities before eliminations	67,220				79,306
	Eliminations	(4,265		)		(8,067		)
	Subtotal - Other liabilities	62,955				71,239
	Total liabilities - before eliminations	$	1,489,650			$	1,864,906
Total liabilities - after eliminations	$	1,485,385			$	1,856,839
The following table presents the details of noncontrolling interests attributable to RSO (in thousands):
	30-Sep-13				31-Dec-12
	(Unaudited)				(Unaudited)
Total stockholders' equity per RSO balance sheet	$	783,414			$	613,345
Eliminations	(31,474		)		(31,022		)
Noncontrolling interests attributable to RSO	$	751,940			$	582,323
RSO Balance Sheet detail (in thousands):
	September 30,				December 31,
	2013				2012
	(Unaudited)				(Unaudited)
(1) Assets of consolidated VIEs of RSO included in the total assets above:
Restricted cash	$	53,752			$	90,108
Investments securities available-for-sale, pledged as collateral, at fair value	110,993				135,566
Loans held for sale	332,351				14,894
Loans, pledged as collateral and net of allowances of $7.3 million	981,513				1,678,719
and $15.2 million
Interest receivable	5,506				5,986
Prepaid expenses	254				328
Principal receivable	7				25,570
Other assets	35				333
Total assets of consolidated RSO VIEs	$	1,484,411			$	1,951,504
(2) Liabilities of consolidated VIEs of RSO included in the total liabilities above:
Borrowings	$	1,166,209			$	1,614,882
Accrued interest expense	2,184				2,666
Derivatives, at fair value	11,766				14,078
Accounts payable and other liabilities	646				698
Total liabilities of consolidated RSO VIEs	$	1,180,805			$	1,632,324
RSO Income Statement Detail
(in thousands)
	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2013				2012				2013				2012
	(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
REVENUES
Interest income:
Loans	$	24,374			$	24,130			$	78,370			$	70,757
Securities	3,411				3,564				10,949				10,520
Interest income − other	649				2,218				3,150				8,204
Total interest income	28,434				29,912				92,469				89,481
Interest expense	11,762				8,208				34,061				25,460
Net interest income	16,672				21,704				58,408				64,021
Rental income	4,649				2,689				15,875				6,642
Dividend income	223				17				256				51
Equity in losses of unconsolidated subsidiaries	(505		)		(779		)		(858		)		(1,469		)
Fee income	1,245				1,777				4,182				5,528
Net realized and unrealized gain on sales of investment securities	570				346				3,355				2,148
available-for-sale and loans
Net realized and unrealized (loss) gain on investment securities, trading	(229		)		9,782				(864		)		13,350
Unrealized gain (loss) and net interest income on linked transactions, net	1,161				133				(4,343		)		386
Revenues from consolidated VIE - RSO	23,786				35,669				76,011				90,657
OPERATING EXPENSES
Management fees − related party	5,113				5,521				11,006				13,512
Equity compensation − related party	2,120				1,404				7,866				3,412
Professional services	1,396				845				3,745				2,562
Insurance	214				161				588				478
Rental operating expense	3,523				1,827				11,084				4,456
General and administrative	1,288				844				4,428				3,377
Depreciation and amortization	904				1,249				3,041				3,974
Income tax expense	722				3,979				4,221				6,978
Net impairment losses recognized in earnings	255				9				811				180
Provision for loan losses	741				1,370				541				7,801
Total operating expenses	16,276				17,209				47,331				46,730
Reclassification of income tax provision	(722		)		(3,979		)		(4,221		)		(6,978		)
Expenses from consolidated VIE - RSO	15,554				13,230				43,110				39,752
Adjusted operating income	8,232				22,439				32,901				50,905
OTHER REVENUE (EXPENSE)
Gain on the extinguishment of debt	—				—				—				5,464
Gain on sale of real estate	16,607				—				16,607				—
Other income from consolidated VIE - RSO	16,607				—				16,607				5,464
Income from continuing operations	24,839				22,439				49,508				56,369
Income tax provision - RSO	722				3,979				4,221				6,978
NET INCOME	24,117				18,460				45,287				49,391
Net income allocated to preferred shares	(1,996		)		(308		)		(5,107		)		(333		)
NET INCOME ALLOCABLE TO RSO COMMON SHARES	$	22,121			$	18,152			$	40,180			$	49,058
RSO Summarized Cash Flow Detail
(in thousands)
	Nine Months Ended
	September 30,
	2013				2012
CASH FLOWS FROM OPERATING ACTIVITIES:	(Unaudited)				(Unaudited)
Net income (1)	$	45,287			$	49,391
Line items included in "Change in cash attributable to consolidated VIE - RSO":
Provision for loan losses	541				7,801
Depreciation of investments in real estate and other	1,638				1,264
Amortization of intangible assets	1,463				2,709
Amortization of term facilities	876				710
Accretion of net discounts on loans held for investment	(8,306		)		(10,738		)
Accretion of net discounts on securities available-for-sale	(1,925		)		(2,444		)
Amortization of discount on notes of CDOs	3,937				1,037
Amortization of debt issuance costs on notes of CDOs	2,868				3,330
Amortization of stock-based compensation	7,866				3,412
Amortization of terminated derivative instruments	322				169
Distribution accrued to preferred stockholders	(5,107		)		—
Accretion of interest-only available-for-sales securities	(714		)		(463		)
Deferred income tax provision (benefit)	502				(1,315		)
Purchase of securities, trading	(11,044		)		(8,348		)
Principal payments on securities, trading	4,211				981
Proceeds from sales of securities, trading	18,713				33,579
Net realized and unrealized loss (gain) on investment securities, trading	864				(13,350		)
Net realized gain on sales of investment securities available-for-sale and loans	(3,355		)		(2,148		)
Gain on early extinguishment of debt	—				(5,464		)
Gain on sale of real estate	(16,607		)		—
Net impairment losses recognized in earnings	802				180
Linked transactions fair value adjustments	5,224				—
Equity in losses of unconsolidated subsidiaries	858				1,469
Changes in operating assets and liabilities	17,434				(9,504		)
Subtotal - net cash provided by operating activities (1)	21,061				2,867
Change in consolidated VIE - RSO cash for the period	(59,185		)		(69,616		)
Subtotal -Change in cash attributable to operations of consolidated VIE - RSO before eliminations	(38,124		)		(66,749		)
Elimination of intercompany activity	(291		)		661
Subtotal - Change in cash attributable to operations of consolidated VIE - RSO	(38,415		)		(66,088		)
Non-cash incentive compensation to RAI (1)	484				814
Elimination of intercompany activity	(484		)		(814		)
Non-cash incentive compensation to RAI - after eliminations	—				—
Net cash provided by operating activities (excluding eliminations)	66,832				53,072
	Nine Months Ended
	September 30,
	2013				2012
CASH FLOWS FROM INVESTING ACTIVITIES:	(Unaudited)				(Unaudited)
Purchase of loans	(555,051		)		(479,172		)
Purchase of securities available-for-sale	(120,599		)		(70,654		)
Subtotal - purchase of loans and investment securities by consolidated VIE - RSO	(675,650		)		(549,826		)
Proceeds from sale of loans	314,112				139,708
Principal payments received on loans	487,606				356,866
Principal payments on securities available-for-sale	33,010				36,365
Proceeds from sale of securities available-for-sale	7,025				6,719
Principal payments received on loans – related parties	499				459
Subtotal - principal payments and proceeds from sale of loans and securities by consolidated VIE - RSO	842,252				540,117
Decrease in restricted cash	30,079				85,413
Lines included in "Other - consolidated VIE - RSO":
Investment in unconsolidated entity	(25,508		)		(725		)
Equity contribution to VIE	—				(710		)
Minority interest equity	2,200				1,979
Improvement of  real estate held-for-sale	(404		)		(138		)
Proceeds from sale of real estate held-for-sale	37,001				2,886
Distributions from investments in real estate	522				1,152
Improvements in investments in real estate	(365		)		(852		)
Purchase of furniture and fixtures	(128		)		—
Subtotal - other investing activities of consolidated VIE, before eliminations	13,318				3,592
Eliminations	28				43
Subtotal - other investing activities of consolidated VIE	13,346				3,635
Net cash provided by investing activities (excluding eliminations)	209,999				79,296
CASH FLOWS FROM FINANCING ACTIVITIES:
Items included in "Net borrowings (repayments) of debt by consolidated VIE - RSO":
Proceeds from borrowings:
Repurchase agreements	143,203				33,820
Payments on borrowings:
Collateralized debt obligations	(450,437		)		(156,989		)
Mortgage payable	(13,600		)		—
Retirement of debt	—				(4,850		)
Net repayments of debt by consolidated VIE - RSO:	(320,834		)		(128,019		)
Distributions paid on common stock	(68,010		)		(54,231		)
Elimination of RAI dividend received	1,669				1,543
Distribution paid on RSO common stock, after eliminations	(66,341		)		(52,688		)
Items included in "Net proceeds from issuance of stock by consolidated VIE - RSO":
Net proceeds from issuances of common stock (net of offering costs of $4,265 and $2,165)	114,018				55,502
Net proceeds from dividend reinvestment and stock purchase plan (net of offering costs of $0 and $19)	19,092				50,424
Proceeds from issuance of 8.5% Series A redeemable	112				16,411
preferred shares (net of offering costs of $3 and $781)
Proceeds from issuance of 8.25% Series B redeemable	51,057				—
preferred shares (net of offering costs of $1,091 and $0)
Subtotal - Net proceeds from issuance of stock by consolidated VIE - RSO	184,279				122,337
Items included in "Other - consolidated VIE - RSO" in financing section:
Payment of debt issuance costs	(1,740		)		(586		)
Payment of equity to third party sub-note holders	(6,952		)		(2,160		)
Distributions paid on preferred stock	(4,389		)		(93		)
Subtotal - Other consolidated VIE -RSO financing activity	(13,081		)		(2,839		)
Net cash used in financing activities (excluding eliminations)	$	(217,646	)		$	(62,752	)
NET INCREASE IN CASH AND CASH EQUIVALENTS	59,185				69,616
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	85,278				43,116
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	144,463			$	112,732
SUPPLEMENTAL DISCLOSURE:
Interest expense paid in cash	$	28,391			$	24,209
A. RSO SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Investment Securities
RSO classifies its investment portfolio as trading or available-for-sale.  RSO, from time to time, may sell any of its investments due to changes in market conditions or in accordance with its investment strategy.
RSO’s investment securities, trading are reported at fair value.  To determine fair value, RSO's management uses an independent third-party valuation firm utilizing appropriate prepayment, default, and recovery rates.  These valuations are validated utilizing dealer quotes or bids. If there is a material difference between the value indicated by the third-party valuation firm and the dealer quote or bid, RSO will evaluate the difference which could result in an updated valuation from the third party or a revised dealer quote. Any changes in fair value are recorded in RSO’s results of operations as net realized and unrealized gain on investment securities, trading.
RSO’s investment securities available-for-sale are reported at fair value.  To determine fair value, RSO uses an independent third-party valuation firm utilizing market color as well as appropriate prepayment, default, and recovery rates.  These valuations are validated utilizing dealer quotes or bids. If there is a material difference between the value indicated by the third-party valuation firm and the dealer quote or bid, RSO will evaluate the difference which could result in an updated valuation from the third party or a revised dealer quote. Based on the market color available for each position, RSO categorizes these investments as either Level 2 or Level 3 in the fair value hierarchy.
On a quarterly basis, RSO evaluates its available-for-sale investments for other-than-temporary impairment.  An available-for-sale investment is impaired when its fair value has declined below its amortized cost basis.  An impairment is considered other-than-temporary when the amortized cost basis of the investment or some portion thereof will not be recovered.  In addition, RSO’s intent to sell as well as the likelihood that RSO will be required to sell the security before the recovery of the amortized cost basis is considered.  Where credit quality is believed to be the cause of the other-than-temporary impairment, that component of the impairment is recognized as an impairment loss in the statement of operations.  Where other market components are believed to be the cause of the impairment, that component of the impairment is recognized as other comprehensive loss.
Investment security transactions are recorded on the trade date.  Realized gains and losses on investment securities are determined on the specific identification method.
Investment Interest Income Recognition
Interest income on RSO’s mortgage-backed and other asset-backed securities is accrued using the effective yield method based on the actual coupon rate and the outstanding principal amount of the underlying mortgages or other assets.  Premiums and discounts are amortized or accreted into interest income over the lives of the securities also using the effective yield method, adjusted for the effects of estimated prepayments.  For an investment purchased at par, the effective yield is the contractual interest rate on the investment.  If the investment is purchased at a discount or at a premium, the effective yield is computed based on the contractual interest rate increased for the accretion of a purchase discount or decreased for the amortization of a purchase premium.  The effective yield method requires RSO to make estimates of future prepayment rates for its investments that can be contractually prepaid before their contractual maturity date so that the purchase discount can be accreted, or the purchase premium can be amortized, over the estimated remaining life of the investment.  The prepayment estimates that RSO uses directly impact the estimated remaining lives of its investments.  Actual prepayment estimates are reviewed as of each quarter end or more frequently if RSO becomes aware of any material information that would lead it to believe that an adjustment is necessary.  If prepayment estimates are incorrect, the amortization or accretion of premiums and discounts may have to be adjusted, which would have an impact on future income.
Allowance for Loan Loss
RSO maintains an allowance for loan loss.  Loans held for investment are first individually evaluated for impairment so specific reserves can be applied.  Loans for which a specific reserve is not applicable are then evaluated for impairment as a homogeneous pool of loans with substantially similar characteristics so that a general reserve can be established, if needed.  The reviews are performed at least quarterly.
RSO considers a loan to be impaired if one of two conditions exists.  The first condition is if, based on current information and events, management believes it is probable that RSO will be unable to collect all amounts due according to the contractual terms of the loan agreement.  The second condition is if the loan is deemed to be a troubled-debt restructuring (“TDR”) where a concession has been given to a borrower in financial difficulty.  These TDRs may not have an associated specific loan loss allowance if the principal and interest amount is considered recoverable based on current market conditions, expected collateral performance and / or guarantees made by the borrowers.
When a loan is impaired under either of these two conditions, the allowance for loan losses is increased by the amount of the excess of the amortized cost basis of the loan over its fair value.  Fair value may be determined based on the present value of estimated cash flows; on market price, if available; or on the fair value of the collateral less estimated disposition costs.  When a loan, or a portion thereof, is considered uncollectible and pursuit of collection is not warranted, RSO will record a charge-off or write-down of the loan against the allowance for loan losses.
An impaired loan may remain on accrual status during the period in which RSO is pursuing repayment of the loan; however, the loan would be placed on non-accrual status at such time as (i) management believes that scheduled debt service payments will not be met within the coming 12 months; (ii) the loan becomes 90 days delinquent; (iii) management determines the borrower is incapable of, or has ceased efforts toward, curing the cause of the impairment; or (iv) the net realizable value of the loan’s underlying collateral approximates RSO’s carrying value for such loan.  While on non-accrual status, RSO recognizes interest income only when an actual payment is received.
Investments in Real Estate
Investments in real estate are carried net of accumulated depreciation.  Costs directly related to the acquisition are expensed as incurred.  Ordinary repairs and maintenance which are not reimbursed by the tenants are expensed as incurred.  Costs related to the improvement of the real property are capitalized and depreciated over their useful lives.
Acquisitions of real estate assets and any related intangible assets are recorded initially at fair value under FASB ASC Topic 805, “Business Combinations.”  RSO allocates the purchase price of its investments in real estate to land, building, site improvements, the value of in-place leases and the value of above or below market leases. The value allocated to above or below market leases is amortized over the remaining lease term as an adjustment to rental income. RSO amortizes the value allocated to in-place leases over the weighted average remaining lease term to depreciation and amortization expense.  RSO depreciates real property using the straight-line method over the estimated useful lives of the assets as follows:
Category	Term
Building	25 – 40 years
Site improvements	Lesser of the remaining life of building or useful lives
Long-Lived and Intangible Assets
Long-lived assets and certain identifiable intangibles to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be recoverable.  The review of recoverability is based on an estimate of the future undiscounted cash flows (excluding interest charges) expected to result from the long-lived asset’s use and eventual disposition.  If impairment has occurred, the loss will be measured as the excess of the carrying amount of the asset over the fair value of the asset.
There were no impairment charges recorded on RSO’s investment in real estate or intangible assets during the three and nine months ended September 30, 2013 and 2012.
B. Variable Interest Entities - RSO
RSO has evaluated its securities, loans, investments in unconsolidated entities, liabilities to subsidiary trusts issuing preferred securities (consisting of unsecured junior subordinated notes) and its CDOs in order to determine if they qualify as VIEs. RSO monitors these investments and, to the extent it has determined that it owns a material investment in the current controlling class of securities of a particular entity, analyzes the entity for potential consolidation. RSO will continually analyze investments and liabilities, including when there is a reconsideration event, to determine whether such investments or liabilities are VIEs and whether any such VIE should be consolidated. This analysis requires considerable judgment in determining the primary beneficiary of a VIE and could result in the consolidation of an entity that would otherwise not have been consolidated or the non-consolidation of an entity that would have otherwise been consolidated.
Consolidated VIEs (RSO is the primary beneficiary)
Based on management’s analysis, RSO is the primary beneficiary of seven VIEs at September 30, 2013: Apidos CDO I, Apidos CDO III, Apidos Cinco CDO, Apidos CLO VIII, RREF CDO 2006-1, RREF CDO 2007-1 and Whitney CLO I. In performing the primary beneficiary analysis for six of these VIEs (other than Whitney CLO I, which is discussed below), it was determined that the persons that have the power to direct the activities that are most significant to each of these VIEs and RSO who has the right to receive benefits and the obligation to absorb losses that could potentially be significant to these VIEs, are a related party group. It was then determined that RSO was the party within that group that is more closely associated to each such VIE because of its preferred equity (and in some cases debt) interest in them.
These CDO and CLO entities were formed on behalf of RSO (except for Whitney CLO I, referred to below) to invest in real estate-related securities, CMBS, property available-for-sale, bank loans, corporate bonds and asset-backed securities, ("ABS"), and were financed by the issuance of debt securities. CVC Credit Partners manages these entities on behalf of RSO. By financing these assets with long-term borrowings through the issuance of CDO and CLO bonds, RSO 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.
Whitney CLO I, the seventh consolidated VIE, is one in which RSO acquired the rights to manage the assets held by the entity as collateral for its CLOs in February 2011. For a discussion on the primary beneficiary analysis for Whitney CLO I see the section "Resource Capital Asset Management CLOs" below.
For CLOs in which RSO does not own 100% of the subordinated notes, RSO 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 RSO consolidated statement of income.
RSO has exposure to CDO and CLO losses to the extent of its subordinated debt and preferred equity interests in them. RSO 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 CDO or CLO, distributions with respect to its preferred equity interests. As a result of consolidation, debt and equity interests RSO holds in these CDOs and CLOs have been eliminated, and RSO’s consolidated balance sheet reflects both the assets held and debt issued by the CDOs and CLOs to third parties and any accrued expense to third parties. RSO's operating results and cash flows include the gross amounts related to CDO and CLO assets and liabilities as opposed to RSO's net economic interests in the CDO and CLO entities. Assets and liabilities related to the CDOs and CLOs are disclosed, in the aggregate, on RSO's consolidated balance sheets.
The creditors of RSO’s seven consolidated VIEs have no recourse to the general credit of RSO. However, in its capacity as manager, RSO has voluntarily supported two credits in one of its commercial real estate CDOs as the credits went through a restructuring in order to maximize their future cash flows. For the three and nine months ended September 30, 2012, RSO has provided financial support of $0 and $199,000, respectively. For the three and nine months ended September 30, 2013, RSO has provided no financial support. RSO has provided no financial support to any of its other 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 RSO. There are no explicit arrangements or implicit variable interests that obligate RSO to provide financial support to any of its consolidated VIEs, although RSO may choose to do so in the future.
The following table shows the classification and carrying value of assets and liabilities of consolidated RSO VIEs as of September 30, 2013 (in thousands):
	Apidos I				Apidos				Apidos				Apidos			Whitney CLO I			RREF			RREF		Total
					III				Cinco				VIII						2006			2007
ASSETS
Restricted cash (1)	$	10,253			$	2,943			$	18,368			$	16,152		$	5,586		$	20		$	430	$	53,752
Investment securities	8,097				6,217				16,622				1,975						11,658			66,424		110,993
available-for-sale, pledged as
collateral, at fair value
Loans, pledged as collateral	100,268				148,660				308,128				7,874			635			158,659			257,289		981,513
Loans held for sale	—				183				3,688				325,675			2,805			—			—		332,351
Interest receivable	(148		)		597				1,094				752			(18		)	1,388			1,841		5,506
Prepaid assets	14				14				26				7			23			99			71		254
Principal receivable	—				—				7				—			—			—			—		7
Other assets	—				—				35				—			—			—			—		35
Total assets (2)	$	118,484			$	158,614			$	347,968			$	352,435		$	9,031		$	171,824		$	326,055	$	1,484,411
LIABILITIES
Borrowings	101,827				145,875				320,997				321,360			2,424			95,151			178,575		$	1,166,209
Accrued interest expense	263				63				325				1,386			—			41			106		2,184
Derivatives, at fair value	—				—				—				—			—			1,379			10,387		11,766
Accounts payable and other liabilities	154				18				23				384			43			22			2		646
Total liabilities	$	102,244			$	145,956			$	321,345			$	323,130		$	2,467		$	96,593		$	189,070	$	1,180,805
(1)    Includes $16.7 million available for reinvestment in certain of the CDOs.
(2)    Assets of each of the consolidated VIEs may only be used to settle the obligations of each respective VIE.
Unconsolidated VIEs (RSO is not the primary beneficiary, but has a variable interest)
Based on analysis by RSO's management, RSO 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 RSO’s consolidated financial statements as of September 30, 2013. RSO’s maximum exposure to risk for each of these unconsolidated VIEs is set forth in the “Maximum Risk Exposure” column in the table below.
LEAF
In the November 16, 2011 formation of LEAF, in exchange for its prior interests in its lease related investments, RSO received 31,341 shares of Series A Preferred Stock (the “Series A Preferred Stock”), 4,872 shares of newly issued 8% Series B Redeemable Preferred Stock (the “Series B Preferred Stock”) and 2,364 shares of newly issued Series D Redeemable Preferred Stock (the “Series D Preferred Stock”), collectively representing, on a fully-diluted basis assuming conversion, a 26.7% interest in LEAF. Several approaches were used, including discounted expected cash flows, market approach and comparable sales transactions to estimate the fair value of its investment in LEAF as a result of the transaction. These approaches required assumptions and estimates of many critical factors, including revenue and market growth, operating cash flows, market multiples, and discount rates, which were based on the current economic environment and credit market conditions. On January 18, 2013, RSO entered into another stock purchase agreement with LEAF to purchase 3,682 shares of newly issued Series A-1 Preferred Stock (the "Series A-1 Preferred Stock") for $3.7 million. During the second quarter of 2013, RSO entered into another stock purchase agreement with LEAF to purchase 3,323 shares of newly issued Series E Preferred Stock (the "Series E Preferred Stock") for $3.3 million. The Series E Preferred Stock has priority over all other classes of preferred stock. RSO's fully-diluted interest in LEAF assuming conversion is 27.5%. RSO’s investment in LEAF was held at $40.8 million and $33.1 million as of September 30, 2013 and December 31, 2012, respectively.
RSO determined that it is not the primary beneficiary of LEAF because it does not participate in any management or portfolio decisions, holds only two of six board positions, and only controls 27.5% of the voting rights in the entity. Furthermore, Eos Partners, L.P. holds consent rights with respect to significant LEAF actions, including incurrence of indebtedness, consummation of a sale of the entity, liquidation or initiating a public offering.
Unsecured Junior Subordinated Debentures
RSO has a 100% interest in the common shares of Resource Capital Trust I (“RCT I”) and RCC Trust II (“RCT II”), valued at $1.5 million in the aggregate (or 3% of each trust). RCT I and RCT II were formed for the purposes of providing debt financing to RSO, as described below. RSO 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 RSO’s financial statements.
RSO records its investments in RCT I and RCT II’s common shares as investments in unconsolidated trusts using the cost method and records dividend income when declared by RCT I and RCT II. The trusts each hold subordinated debentures for which RSO is the obligor in the amount of $25.8 million for RCT I and $25.8 million for RCT II. The debentures were funded by the issuance of trust preferred securities of RCT I and RCT II. RSO will continuously reassess whether it should be deemed to be the primary beneficiary of the trusts.
Resource Capital Asset Management CLOs
In February 2011, RSO purchased a company that managed $1.9 billion of bank loan assets through five CLOs. As a result, RSO is entitled to collect senior, subordinated and incentive management fees from these CLOs. The purchase price of $22.5 million resulted in an intangible asset that was allocated to each of the five CLOs and is being amortized over the expected life of each CLO. The unamortized balance of the intangible asset was $11.7 million and $13.1 million at September 30, 2013 and December 31, 2012, respectively. RSO recognized fee income of $1.2 million and $4.2 million for the three and nine months ended September 30, 2013, respectively, and $1.8 million and $5.5 million for the three and nine months ended September 30, 2012, respectively. With respect to four of these CLOs, RSO determined that it does not hold a controlling interest and, therefore, is not the primary beneficiary. One of the CLOs was liquidated in January 2013. With respect to the fifth CLO, Whitney CLO I, in October 2012, RSO purchased 66.6% of its preferred equity, which was determined to be a reconsideration event. Based upon that purchase, RSO determined that it does have an obligation to absorb losses and/or the right to receive benefits that could potentially be significant to Whitney CLO I and that a related party has the power to direct the activities that are most significant to the VIE. As a result, together with the related party, RSO has both the power to direct and the right to receive benefits and the obligation to absorb losses. It was then determined that, between RSO and the related party, RSO was the party within that group that is more closely associated with Whitney CLO I because of its preferred equity interest in Whitney CLO I. RSO, therefore, consolidated Whitney CLO I. In May 2013, RSO purchased additional equity in this CLO which increased its equity ownership to 68.3% of the outstanding preferred equity of Whitney CLO I. In September 2013, RSO liquidated Whitney CLO I, and as a result substantially all of the assets were sold. Total proceeds from the sale of these assets, plus proceeds from previous sales and paydowns in the CLO were used to pay down the remaining balance on the outstanding notes of $103.7 million.
Real Estate Joint Ventures
On December 1, 2009, RSO purchased a membership interest in RRE VIP Borrower, LLC (a VIE that holds interests in a real estate joint venture) from Resource America. This joint venture, which is structured as a credit facility with Värde Investment Partners, LP acting as lender, finances the acquisition of distressed properties and mortgage loans and has the objective of repositioning both the directly-owned properties and the properties underlying the mortgage loans to enhance their value. RSO acquired the membership interests for $2.1 million. The joint venture agreement requires RSO to contribute 3% to 5% (depending on the terms of the agreement pursuant to which the particular asset is being acquired) of the total funding required for each asset acquisition as needed up to a specified amount. RSO provided funding of $20,000 and $157,000 for the three and nine months ended September 30, 2013 and $145,000 and $465,000 for the three and nine months ended September 30, 2012, respectively, for these investments. Resource Real Estate Management, LLC (“RREM”), an indirect subsidiary of the Company, acts as asset manager of the venture and receives a monthly asset management fee. For the three and nine months ended September 30, 2013, RSO recorded losses of $521,000 and $735,000, respectively. For the three and nine months ended September 30, 2012, RSO recorded income of $346,000 and $931,000, respectively. Using the equity method of accounting, the income/losses were recorded in equity in earnings of unconsolidated subsidiaries on the RSO's consolidated statement of income. RSO’s investment in RRE VIP Borrower, LLC at September 30, 2013 and December 31, 2012 was $(330,000) and $2.3 million, respectively.
On June 19, 2012, RSO entered into a second joint venture with Värde Investment Partners, LP acting as lender, to purchase two condominium developments. RSO purchased a 7.5% equity interest in the venture. RSO may be subject to a capital call based on its pro rata share of equity interest in the venture up to the earlier of the end of the investment period, ending in May 2015, or the date the aggregate of all capital contributions exceeds $500.0 million. RREM was appointed as the asset manager of the venture to perform lease review and approval, debt service collection, loan workout, foreclosure, disposition and permitting, as applicable. RREM is also responsible for engaging third parties to perform day-to-day property management, property leasing, rent collection, maintenance, and capital improvements. RSO’s investment in the joint venture at September 30, 2013 and December 31, 2012 was $575,000 and $526,000, respectively. Using the equity method of accounting, RSO recognized equity in earnings related to this investment of $6,000 and $49,000 for the three and nine months ended September 30, 2013, respectively. RSO recorded a loss of $100,000 for both the three and nine months ended September 30, 2012.
RSO has determined that it does not have the power to direct the activities that most significantly impact the economic performance of each of these ventures, which include asset underwriting and acquisition, lease review and approval, and loan asset servicing, and, therefore, RSO is not the primary beneficiary of either.
CVC Global Credit Opportunities Fund
In May, June, and July 2013, RSO invested a total of $15.0 million in CVC Global Credit Opportunities Fund, a fund which seeks to generate returns targeting corporate credit through a master-feeder fund structure. Because CVC Global Credit Opportunities Fund is not a VIE and RSO owns only 34.4%, RSO will not consolidate it. RSO records its investment in the fund using the equity method. For the three and nine months ended September 30, 2013, RSO recognized $433,000 and $526,000 of income in equity in net losses of unconsolidated entities on the RSO income statement. The investment balance of $15.5 million at September 30, 2013 is recorded as an investment in unconsolidated entities on RSO's consolidated balance sheet.
Life Care Funding
In 2013, Long Term Care Conversion, Inc. ("LTCC"), a wholly-owned subsidiary of RSO invested $2.0 million into Life Care Funding, LLC ("LCF") for the purpose of originating and acquiring life settlement contracts. Although the Investment Committee and Board are controlled by the joint venture partner, the joint venture partner must obtain LTCC's approval to make any investments and the joint venture partner must obtain LTCC approval for all material business operations. As a result, RSO's management determined that there was joint control and RSO will not consolidate LCF. Using the equity method, RSO recognized a loss of $107,000 and $349,000 during the three and nine months ended September 30, 2013, respectively, as equity in net losses of unconsolidated subsidiaries. RSO's investment in LCF was $1.7 million at September 30, 2013 is recorded as an investment in unconsolidated entities on RSO's consolidated balance sheet.
Harvest CLO VII Limited
In September 2013, RSO invested $5.3 million in the subordinated notes of a European CLO, which represented 9.52% of the subordinated notes. The CLO is managed by an independent third party and therefore RSO does not have control and is not deemed to be the primary beneficiary. Therefore, the CLO is not consolidated onto RSO's financial statements. RSO records its investment in the CLO by imputing an interest rate using expected cash flows over the expected life of the CLO and records the income as equity in net losses of unconsolidated subsidiaries on RSO's consolidated statement of income.
The following table shows the classification, carrying value and maximum exposure to loss with respect to RSO’s unconsolidated VIEs as of September 30, 2013 (in thousands):
	Unconsolidated Variable Interest Entities
	LEAF				Unsecured				Resource				RRE VIP			Värde			Life			CVC		Harvest CLO VII		Total		Maximum
	Commercial				Junior				Capital				Borrower,			Investment			Care			Global						Exposure
	Capital, Inc.				Subordinated				Asset				LLC			Partners,			Funding			Opps						to Loss (1)
					Debentures				Management							LP						Fund
									CLOs
Investment in	$	40,820			$	1,548			$	—			$	(330	)	$	575		$	1,651		$	15,526	$	4,999	$	64,789	$	64,789
unconsolidated
entities
Intangible	—				—				11,687				—			—			—			—		—		11,687		$	11,687
assets
Total assets	40,820				1,548				11,687				(330		)	575			1,651			15,526		4,999		76,476
Borrowings	—				50,956				—				—			—			—			—		—		50,956		N/A
Total	—				50,956				—				—			—			—			—		—		50,956		N/A
liabilities
Net asset	$	40,820			$	(49,408	)		$	11,687			$	(330	)	$	575		$	1,651		$	15,526	$	4,999	$	25,520	N/A
(liability)
-1	RSO's maximum exposure to loss at September 30, 2013 does not exceed the carrying amount of its investment.
Other than the contingent obligation arrangement described above in connection with LEAF and the commitments RSO has to fund its real estate joint ventures, there were no explicit arrangements or implicit variable interests that could require RSO to provide financial support to any of its unconsolidated VIEs.
C. Supplemental Cash Flow Information - RSO
Supplemental disclosure of cash flow information (in thousands):
	Nine Months Ended
	September 30,
	2013				2012
Non-cash investing activities include the following:
Acquisition of real estate investments	$	—			$	(21,661	)
Conversion of loans to investment in real estate	$	—			$	21,661
Non-cash financing activities include the following:
Distributions on common stock declared but not paid	$	25,447			$	19,897
Distribution on preferred stock declared but not paid	$	2,023			$	308
Income taxes paid in cash	$	8,997			$	19,771
Issuance of restricted stock	$	242			$	480
Subscription receivable	$	257			$	24,213
D. Investment securities - Trading - RSO
The following table summarizes RSO's structured notes and residential mortgage-backed securities (“RMBS”) which are classified as investment securities, trading and carried at fair value (in thousands):
	Amortized				Unrealized				Unrealized				Fair Value
	Cost				Gains				Losses
September 30, 2013:
Structured notes	$	8,554			$	4,026			$	(1,000	)		$	11,580
RMBS	1,934				—				(1,415		)		519
Total	$	10,488			$	4,026			$	(2,415	)		$	12,099
December 31, 2012:
Structured notes	$	9,413			$	10,894			$	(1,028	)		$	19,279
RMBS	6,047				858				(1,341		)		5,564
Total	$	15,460			$	11,752			$	(2,369	)		$	24,843
RSO purchased four securities and sold six securities during the nine months ended September 30, 2013, for a net gain of $6.9 million.  RSO held 11 and 13 investment securities, trading as of September 30, 2013 and December 31, 2012, respectively.
E. Investment Securities available-for-sale - RSO
RSO pledges a portion of its CMBS as collateral against its borrowings under repurchase agreements and derivatives. If RSO finances the purchase of securities with repurchase agreements with the same counterparty from whom the securities are purchased and both transactions are entered into contemporaneously or in contemplation of each other, the transactions are presumed not to meet sale accounting criteria and RSO will account for the purchase of such securities and the repurchase agreement on a net basis and record a forward purchase commitment to purchase securities (each, a “Linked Transaction”) at fair value on RSO's consolidated balance sheet in RSO's line item Linked Transactions, at fair value. Changes in the fair value of the assets and liabilities underlying the Linked Transactions and associated interest income and expense are reported as unrealized gain (loss) and net interest income on linked transactions, net on RSO's consolidated statement of income. CMBS that are accounted for as components of Linked Transactions are not reflected in the tables set forth in this note, as they are accounted for as derivatives.
The following table summarizes RSO's investment securities, including those pledged as collateral and classified as available-for-sale, which are carried at fair value (in thousands):
	Amortized				Unrealized				Unrealized				Fair Value
	Cost (1)				Gains				Losses
September 30, 2013:
CMBS	$	194,268			$	7,297			$	(13,792	)		$	187,773
ABS	26,317				1,776				(495		)		27,598
Corporate bonds	5,375				29				(91		)		5,313
Other asset-backed	—				—				—				—
Total	$	225,960			$	9,102			$	(14,378	)		$	220,684
December 31, 2012:
CMBS	$	182,828			$	4,626			$	(16,639	)		$	170,815
ABS	25,885				1,700				(1,115		)		26,470
Corporate Bonds	34,361				111				(190		)		34,282
Other asset-backed	—				23				—				23
Total	$	243,074			$	6,460			$	(17,944	)		$	231,590
-1	As of September 30, 2013 and December 31, 2012, $174.0 million and $195.2 million, respectively, of securities were pledged as collateral security under related financings.
The following table summarizes the estimated maturities of RSO’s CMBS, ABS, and corporate bonds according to their estimated weighted average life classifications (in thousands, except percentages):
Weighted Average Life	Fair Value				Amortized				Weighted
					Cost				Average
									Coupon
September 30, 2013:
Less than one year	$	42,561		(1)	$	45,731			4.97%
Greater than one year and less than five years	136,672				138,629				4.67%
Greater than five years and less than ten years	37,088				36,905				2.71%
Greater than ten years	4,363				4,695				4.03%
Total	$	220,684			$	225,960			4.39%
December 31, 2012:
Less than one year	$	42,618		(1)	$	46,522			4.09%
Greater than one year and less than five years	122,509				131,076				4.55%
Greater than five years and less than ten years	61,780				60,801				3.31%
Greater than ten years	4,683				4,675				4.03%
Total	$	231,590			$	243,074			4.12%
(1)    RSO expects that the maturity date of these CMBS will either be extended or the CMBS will be paid in full.
The contractual maturities of the CMBS investment securities available-for-sale range from October 2013 to April 2025.  The contractual maturities of the ABS investment securities available-for-sale range from November 2015 to August 2022. The contractual maturities of the corporate bond investment securities available-for-sale range from December 2015 to April 2021.
The following table shows the fair value and gross unrealized losses, aggregated by investment category and length of time, of those individual investment securities available-for-sale that have been in a continuous unrealized loss position during the periods specified (in thousands):
	Less than 12 Months								More than 12 Months							Total
	Fair Value				Gross				Fair Value				Gross			Fair Value			Gross
					Unrealized								Unrealized						Unrealized
					Losses								Losses						Losses
September 30, 2013:
CMBS	$	62,839			$	(8,333	)		$	12,124			$	(5,459	)	$	74,963		$	(13,792	)
ABS	201				(2		)		6,589				(493		)	6,790			(495		)
Corporate bonds	2,976				(91		)		—				—			2,976			(91		)
Total temporarily impaired securities	$	66,016			$	(8,426	)		$	18,713			$	(5,952	)	$	84,729		$	(14,378	)
December 31, 2012:
CMBS	$	25,803			$	(442	)		$	38,734			$	(16,197	)	$	64,537		$	(16,639	)
ABS	—				—				5,961				(1,115		)	5,961			(1,115		)
Corporate bonds	19,445				(190		)		—				—			19,445			(190		)
Total temporarily impaired securities	$	45,248			$	(632	)		$	44,695			$	(17,312	)	$	89,943		$	(17,944	)
RSO held nine and 19 CMBS investment securities available-for-sale that have been in a loss position for more than 12 months as of September 30, 2013 and December 31, 2012, respectively.  RSO held nine ABS investment securities available-for-sale that have been in a loss position for more than 12 months as of September 30, 2013 and December 31, 2012, respectively.  RSO had no corporate bonds that have been in a loss position for more than 12 months as of September 30, 2013 and December 31, 2012. 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 determination of other-than-temporary impairment is a subjective process, and different judgments and assumptions could affect the timing of loss realization.  RSO reviews its portfolios and makes other-than-temporary impairment determinations at least quarterly.  RSO considers the following factors when determining if there is an other-than-temporary impairment on a security:
•	the length of time the market value has been less than amortized cost;
•	the severity of the impairment;
•	the expected loss of the security as generated by a third-party valuation model;
•	original and current credit ratings from the rating agencies;
•	underlying credit fundamentals of the collateral backing the securities;
•	whether, based upon RSO’s intent, it is more likely than not that RSO will sell the security before the recovery of the amortized cost basis; and
•	third-party support for default, for recovery, prepayment speed and reinvestment price assumptions.
At September 30, 2013 and December 31, 2012, RSO held $187.8 million and $170.8 million, respectively, (net of unrealized losses of $6.5 million and $12.0 million, respectively), of CMBS recorded at fair value.  To determine fair value, RSO uses a third party valuation firm.
At September 30, 2013 and December 31, 2012, RSO held $27.6 million and $26.5 million, respectively, (net of unrealized gains of $1.3 million and 585,000, respectively), of ABS recorded at fair value.  To determine their fair value, RSO uses dealer quotes.
At September 30, 2013 and December 31, 2012, RSO held $5.3 million and $34.3 million, respectively, (net of unrealized losses of $62,000 and losses of $78,000, respectively), of corporate bonds recorded at fair value. To determine their fair value, RSO uses dealer quotes.
RSO’s securities classified as available-for-sale have increased in fair value on a net basis as of September 30, 2013 as compared to December 31, 2012, primarily due to improving dealer marks and new purchases in 2013. RSO performs an on-going review of third-party reports and updated financial data on the underlying properties in order to analyze current and projected security performance.  Rating agency downgrades are considered with respect to RSO’s income approach when determining other-than-temporary impairment and, when inputs are subjected to testing for economic changes within possible ranges, the resulting projected cash flows reflect a full recovery of principal and interest indicating no impairment. During the three and nine months ended September 30, 2013, RSO recognized other-than-temporary impairment losses of $255,000 and $276,000, respectively, on positions that supported RSO's CMBS investment. During the three and nine months ended September 30, 2012, RSO recognized other-than-temporary impairment losses of $9,000 and $42,000, respectively, on positions that supported RSO's CMBS investment.
During the three and nine months ended September 30, 2013, there were no ABS sales. During the three and nine months ended September 30, 2012, RSO sold two and five ABS positions with a total par of $1.4 million and $4.3 million, respectively, and recognized gains of $89,000 and $111,000, respectively.
During the three and nine months ended September 30, 2013, RSO sold 17 and 32 corporate bond positions with a total par value of $30.0 million and $33.0 million, respectively, and recognized a net loss of $441,000 and $432,000, respectively. During the nine months ended September 30, 2013, RSO had two corporate bond positions redeemed with a total par value of $3.5 million, and recognized a loss of $11,000. During the nine months ended September 30, 2012, RSO had one corporate bond position redeemed with a total par value of $182,000, and recognized a gain of $39,000.
Changes in interest rates may also have an effect on the rate of mortgage principal prepayments and, as a result, prepayments on CMBS in RSO’s investment portfolio.  At September 30, 2013 and December 31, 2012, the aggregate discount due to interest rate changes exceeded the aggregate premium on RSO’s CMBS by approximately $4.8 million and $8.0 million, respectively.  At September 30, 2013 and December 31, 2012, the aggregate discount on RSO’s ABS portfolio was $2.6 million and $3.1 million, respectively.  There were no premiums on RSO’s ABS investment portfolio at September 30, 2013 and December 31, 2012. At September 30, 2013 the aggregate discount on RSO’s corporate bond portfolio was $154,000. At December 31, 2012, the aggregate premium on RSO’s corporate bond portfolio was $608,000.
F. Investments in real estate - RSO
The table below summarizes RSO’s investments in real estate (in thousands):
	As of September 30, 2013						As of December 31, 2012
	Book Value				Number of		Book Value				Number of
					Properties						Properties
Multi-family property	$	22,102			1		$	42,179			2
Office property	10,244				1		10,149				1
Hotel property	25,718				1		25,608				1
Subtotal	58,064						77,936
Less:  Accumulated depreciation	(2,920		)				(2,550		)
Investments in real estate	$	55,144					$	75,386
During the three and nine months ended September 30, 2013, RSO made no acquisitions. On September 30, 2013, RSO sold one of its multi-family properties. The gain from the sale of this property is recorded on RSO's consolidated income statement in gain on sale of real estate. During the year ended December 31, 2012, RSO foreclosed on one self-originated loan and converted the loan to equity with a fair value of $25.5 million at acquisition. The loan was collateralized by a 179 unit hotel property in Coconut Grove, Florida. The property had an occupancy rate of 75% at acquisition.
The following table is a summary of the aggregate estimated fair value of the assets and liabilities acquired on the respective date of acquisition during the year ended December 31, 2012 (in thousands). There were no such acquisitions during the nine months ended September 30, 2013.
Description		31-Dec-12
Assets acquired:
Investments in real estate		$	25,500
Other assets		(89		)
Total assets acquired		25,411
Liabilities assumed:
Accounts payable and other liabilities		3,750
Total liabilities assumed		3,750
Estimated fair value of net assets acquired		$	21,661
G. Loans held for investment - RSO
The following is a summary of RSO’s loans (in thousands):
Loan Description		Principal				Unamortized				Carrying
						(Discount)				Value (2)
						Premium (1)
September 30, 2013:
Bank loans (3)		$	914,676			$	(5,648	)		$	909,028
Commercial real estate loans:
Whole loans		671,118				(3,003		)		668,115
B notes		16,328				(90		)		16,238
Mezzanine loans		57,667				(93		)		57,574
Total commercial real estate loans		745,113				(3,186		)		741,927
Subtotal loans before allowances		1,659,789				(8,834		)		1,650,955
Allowance for loan loss		(12,865		)		—				(12,865		)
Total		$	1,646,924			$	(8,834	)		$	1,638,090
December 31, 2012:
Bank loans (3)		$	1,218,563			$	(25,249	)		$	1,193,314
Commercial real estate loans:
Whole loans (4)		569,829				(1,891		)		567,938
B notes		16,441				(114		)		16,327
Mezzanine loans		82,992				(206		)		82,786
Total commercial real estate loans		669,262				(2,211		)		667,051
Subtotal loans before allowances		1,887,825				(27,460		)		1,860,365
Allowance for loan loss		(17,691		)		—				(17,691		)
Total		$	1,870,134			$	(27,460	)		$	1,842,674
-1	Amounts include deferred amendment fees of $288,000 and $450,000 and deferred upfront fees of $260,000 and $334,000 being amortized over the life of the bank loans as of September 30, 2013 and December 31, 2012, respectively.  Amounts include loan origination fees of $2.9 million and $1.9 million and loan extension fees of $189,000 and $214,000 being amortized over the life of the commercial real estate loans as of September 30, 2013 and December 31, 2012, respectively.
-2	Substantially all loans are pledged as collateral under various borrowings at September 30, 2013 and December 31, 2012, respectively.
-3	Amounts include $332.4 million and $14.9 million of bank loans held for sale at September 30, 2013 and December 31, 2012, respectively.
-4	Amount includes $34.0 million from two whole loans which are classified as loans held for sale at December 31, 2012.
At September 30, 2013 and December 31, 2012, approximately 39.2% and 47.7%, respectively, of RSO’s commercial real estate loan portfolio was concentrated in commercial real estate loans located in California; approximately 7.1% and 7.9%, respectively, in Arizona; and approximately 14.8% and 11.1%, respectively, in Texas.  At September 30, 2013 and December 31, 2012, approximately 15.2% and 13.2%, of RSO’s bank loan portfolio was concentrated in the collective industry grouping of healthcare, education and childcare.
At September 30, 2013, RSO’s bank loan portfolio consisted of $906.1 million (net of allowance of $3.0 million) of floating rate loans, which bear interest ranging between the three month London Interbank Offered Rate (“LIBOR”) plus 1.5% and three month LIBOR plus 10.0% with maturity dates ranging from December 2013 to April 2021.
At December 31, 2012, RSO’s bank loan portfolio consisted of $1.2 billion (net of allowance of $9.7 million) of floating rate loans, which bear interest ranging between the three month LIBOR plus 1.5% and three month LIBOR plus 8.8% with maturity dates ranging from August 2013 to January 2021.
The following is a summary of the weighted average life of RSO’s bank loans, at amortized cost (in thousands):
	September 30, 2013 (1)				December 31,
					2012
Less than one year	$	29,008			$	10,028
Greater than one year and less than five years	574,042				821,568
Five years or greater	305,978				361,718
	$	909,028			$	1,193,314
-1	Bank loans include $4.6 million with maturity dates less than one year, $157.4 million with maturity dates greater than one year and less than five years and $170.3 million with maturity dates five years or greater that are held for sale as of September 30, 2013.
The following is a summary of RSO’s commercial real estate loans held for investment (dollars in thousands):
Description		Quantity		Amortized Cost				Contracted		Maturity
								Interest Rates		Dates (3)
September 30, 2013:
Whole loans, floating rate (1)		47		$	668,115			LIBOR plus 2.50% to		December 2013 to
								LIBOR plus 8.0%		Aug-19
B notes, fixed rate		1		16,238				8.68%		Apr-16
Mezzanine loans, fixed rate (6)		4		57,574				0.50% to 20.00%		December 2014 to
										Sep-19
Total (2)		52		$	741,927
December 31, 2012:
Whole loans, floating rate (1) (4) (5)		37		$	567,938			LIBOR plus 2.50% to		June 2013 to
								LIBOR plus 5.50%		Feb-19
B notes, fixed rate		1		16,327				8.68%		Apr-16
Mezzanine loans, floating rate		2		15,845				LIBOR plus 2.50% to		August 2013 to
								LIBOR plus 7.45%		Dec-13
Mezzanine loans, fixed rate (6)		3		66,941				0.50% to 20.00%		September 2014 to
										Sep-19
Total (2)		43		$	667,051
-1	Whole loans had $6.6 million and $8.9 million in unfunded loan commitments as of September 30, 2013 and December 31, 2012, respectively.  These commitments are funded as the borrowers request additional funding and have satisfied the requirements to obtain this additional funding.
-2	The total does not include an allowance for loan loss of $9.9 million and $8.0 million as of September 30, 2013 and December 31, 2012, respectively.
-3	Maturity dates do not include possible extension options that may be available to the borrowers.
-4	Floating rate whole loans include a $2.0 million portion of a whole loan that has a fixed rate of 15.0% as of December 31, 2012.
-5	Amount includes $34.0 million from two whole loans that were classified as loans held for sale at December 31, 2012.
-6	Fixed rate mezzanine loans include a mezzanine loan that was modified into two tranches which both currently pay interest at 0.50%. In addition, the subordinate tranche accrues interest at LIBOR plus 18.50% which is deferred until maturity.
The following is a summary of the weighted average life of RSO’s commercial real estate loans, at amortized cost (in thousands):
Description		2013				2014				2015 and Thereafter				Total
September 30, 2013:
B notes		$	—			$	—			$	16,238			$	16,238
Mezzanine loans		—				11,398				46,176				57,574
Whole loans		4,067				—				664,048				668,115
Total (1)		$	4,067			$	11,398			$	726,462			$	741,927
December 31, 2012:
B notes		$	—			$	—			$	16,327			$	16,327
Mezzanine loans		5,328				20,694				56,764				82,786
Whole loans		71,799				—				496,139				567,938
Total (1)		$	77,127			$	20,694			$	569,230			$	667,051
-1	Weighted average life of commercial real estate loans assumes full exercise of extension options available to borrowers.
The following is a summary of the allocation of the allowance for loan loss with respect to RSO’s commercial real estate and bank loans (in thousands, except percentages) by asset class:
Description		Allowance for				Percentage of
		Loan Loss				Total Allowance
September 30, 2013:
B notes		$	166			1.29%
Mezzanine loans		531				4.12%
Whole loans		9,214				71.63%
Bank loans		2,954				22.96%
Total		$	12,865
December 31, 2012:
B notes		$	206			1.16%
Mezzanine loans		860				4.86%
Whole loans		6,920				39.12%
Bank loans		9,705				54.86%
Total		$	17,691
As of September 30, 2013, RSO had recorded an allowance for loan losses of $12.9 million consisting of a $3.0 million allowance on RSO’s bank loan portfolio and a $9.9 million allowance on RSO’s commercial real estate portfolio as a result of the provisions taken on three bank loans and one commercial real estate loan as well as the maintenance of a general reserve with respect to these portfolios. The bank loan allowance decreased $6.8 million from $9.7 million as of December 31, 2012 to $3.0 million as of September 30, 2013 as a result of improved credit conditions.  The whole loan allowance increased $2.3 million from $6.9 million as of December 31, 2012 to $9.2 million as of September 30, 2013 as a result of specific provisions taken on one commercial real estate loan.
As of December 31, 2012, RSO had recorded an allowance for loan losses of $17.7 million consisting of a $9.7 million allowance on RSO’s bank loan portfolio and a $8.0 million allowance on RSO’s commercial real estate portfolio as a result of the impairment of one bank loan and four commercial real estate loans as well as the maintenance of a general reserve with respect to these portfolios.
H. Investments in unconsolidated entities - RSO
In May 2013, RSO entered into a limited partnership agreement with CVC Global Credit Opportunities Fund, L.P. ("the Partnership"), a Delaware limited partnership which generally invests in assets through a master-feeder fund structure ("the Master Fund"). RSO invested $15.0 million as of September 30, 2013. The General Partner of the Partnership and the Master Fund is CVC Global Credit Opportunities Fund GP, LLC, a Delaware limited liability company. The investment manager of the partnership and the Master Fund is CVC Credit Partners, LLC. The fund will pay the investment manager a quarterly management fee in advance calculated at the rate of 1.5% annually based on the balance of each limited partner's capital account. RSO's management fee was waived upon entering the agreement given that RSO is a related party of CVC Credit Partners, LLC. For the three and nine months ended September 30, 2013, RSO recorded earnings of $433,000 and $526,000, respectively, which were recorded in equity in net losses of unconsolidated subsidiaries on the RSO statement of income. The investment balance of $15.5 million at September 30, 2013 is recorded as an investment in unconsolidated entities on RSO's balance sheet using the equity method.
In January 2013, LTCC invested $2.0 million into LCF for the purpose of originating and acquiring life settlement contracts. Although the Investment Committee and Board are controlled by the joint venture partner, the joint venture partner must obtain LTCC's unanimous approval to make any investments and the joint venture partner must obtain LTCC approval for all material business operations. As a result, RSO determined that there was joint control and, therefore, neither RSO nor its joint venture partner will consolidate LCF. Using the equity method, RSO recognized net losses of $107,000 and $349,000 during the three and nine months ended September 30, 2013, as equity in net losses of unconsolidated subsidiaries. RSO's investment in LCF was $1.7 million at September 30, 2013 and is recorded as an investment in unconsolidated entities on RSO's consolidated balance sheet.
On June 19, 2012, RSO entered into a joint venture with Värde Investment Partners, LP acting as lender, to purchase two condominium developments.  RSO purchased a 7.5% equity interest in the venture. RREM was appointed as the asset manager of the venture to perform lease review and approval, debt service collection, loan workout, foreclosure, disposition and permitting, as applicable.  RREM is also responsible for engaging third parties to perform day-to-day property management, property leasing, rent collection, maintenance, and capital improvements. For the three and nine months ended September 30, 2013, RSO recorded earnings of $6,000 and $49,000, which were recorded in equity in net losses of unconsolidated subsidiaries on RSO's consolidated statement of income.  RSO recorded a loss of $100,000 for both the three and nine months ended September 30, 2012. The investment balance of $575,000 and $526,000 at September 30, 2013 and December 31, 2012, respectively, is recorded as an investment in unconsolidated entities on RSO's consolidated balance sheet using the equity method.
On November 16, 2011, RSO and the Company, entered into a SPA with Eos Partners, L.P.  In exchange for RSO's prior interest in LEAF, RSO received 31,341 shares of Series A Preferred Stock, 4,872 shares of newly issued 8% Series B Redeemable Preferred Stock and 2,364 shares of newly issued Series D Redeemable Preferred Stock, collectively representing, on a fully-diluted basis assuming conversion, a 26.7% interest in LEAF.  RSO’s investment in LEAF was valued at $36.3 million based on a third-party valuation.  Several approaches were used, including discounted expected cash flows, market approach and comparable sales transactions to estimate the fair value of its investment in LEAF as a result of the transaction.  These approaches required assumptions and estimates of many critical factors, including revenue and market growth, operating cash flows, market multiples, and discount rates, which were based on the current economic environment and credit market conditions. RSO recorded a loss of $2.2 million in conjunction with the transaction.  On January 18, 2013, RSO entered into another stock purchase agreement with LEAF to purchase 3,682 shares of newly issued Series A-1 Preferred Stock for $3.7 million. During the second quarter of 2013, RSO entered into another stock purchase agreement with LEAF to purchase 3,323 shares of newly issued Series E Preferred Stock for $3.3 million. The Series E Preferred Stock has priority over all other classes of preferred stock. RSO accrued $207,000 on the Series E Preferred Stock shares to date. RSO's fully-diluted basis assuming conversion is 27.5%. RSO’s interest in the investment is accounted for under the equity method.  For the three and nine months ended September 30, 2013, RSO recorded losses of $346,000 and $378,000, respectively, which was recorded in equity in net losses of unconsolidated subsidiaries on the RSO consolidated statements of income. For the three and nine months ended September 30, 2012, RSO recorded a loss of $1.0 million and $2.3 million, respectively, which was recorded in equity in net losses on the RSO consolidated statements of income. RSO’s investment in LEAF was carried at $40.8 million and $33.1 million as of September 30, 2013 and December 31, 2012, respectively.
On December 1, 2009, RSO purchased a membership interest in RRE VIP Borrower, LLC (an unconsolidated VIE that holds RSO's interests in a real estate joint venture) from the Company at book value.  This joint venture, which is structured as a credit facility with Värde Investment Partners, LP acting as lender, finances the acquisition of distressed properties and mortgage loans and has the objective of repositioning both the directly-owned properties and the properties underlying the mortgage loans to enhance their value.  RSO acquired the membership interests for $2.1 million. The agreement requires RSO to contribute 3% to 5% (depending on the asset agreement) of the total funding required for each asset acquisition on a monthly basis.  RREM acts as asset manager of the venture and receives a monthly asset management fee equal to 1% of the combined investment calculated as of the last calendar day of the month. For the three and nine months ended September 30, 2013, RSO paid RREM management fees of $6,500 and $23,000, respectively. For the three and nine months ended September 30, 2012, RSO paid RREM management fees of $11,000 and $35,000, respectively. For the three and nine months ended September 30, 2013, RSO recorded losses of $521,000 and $735,000, respectively, which was recorded in equity in net losses of unconsolidated subsidiaries on the RSO consolidated statement of income.  For the three and nine months ended September 30, 2012, RSO recorded earnings of $346,000 and $931,000, respectively, which was recorded in equity in net losses of unconsolidated subsidiaries on the RSO consolidated statement of income. The investment balance of $(330,000) and $2.3 million at September 30, 2013 and December 31, 2012, respectively, is recorded as an investment in unconsolidated entities on RSO's consolidated balance sheet using the equity method.
RSO has a 100% interest valued at $1.5 million in the common shares (3% of the total equity) in two trusts, RCT I and RCT II and determined it was not the primary beneficiary of either trust. RSO records its investments in RCT I and RCT II’s common shares of $774,000 each as investments in unconsolidated trusts using the cost method and records dividend income upon declaration by RCT I and RCT II.  For the three and nine months ended September 30, 2013, RSO recognized $604,000 and $1.8 million, respectively, of interest expense with respect to the subordinated debentures it issued to RCT I and RCT II which included $48,000 and $143,000, respectively, of amortization of deferred debt issuance costs.  For the three and nine months ended September 30, 2012, RSO recognized $626,000 and $1.9 million, respectively, of interest expense with respect to the subordinated debentures it issued to RCT I and RCT II which included $46,000 and $136,000, respectively, of amortization of deferred debt issuance costs.  RSO will continuously reassess whether it should be deemed to be the primary beneficiary of the trusts.
I. Financing receivables - RSO
The following tables show the allowance for loan losses and recorded investments in loans for the years indicated (in thousands):
	Commercial Real Estate Loans				Bank Loans				Loans Receivable-Related Party				Total
September 30, 2013:
Allowance for Loan Losses:
Allowance for losses at January 1, 2013	$	7,986			$	9,705			$	—			$	17,691
Provision (benefit) for loan loss	2,017				(1,476		)		—				541
Loans charged-off	(92		)		(5,275		)		—				(5,367		)
Allowance for losses at September 30, 2013	$	9,911			$	2,954			$	—			$	12,865
Ending balance:
Individually evaluated for impairment	$	4,067			$	1,882			$	—			$	5,949
Collectively evaluated for impairment	$	5,844			$	1,072			$	—			$	6,916
Loans acquired with deteriorated credit quality	$	—			$	—			$	—			$	—
Loans:
Ending balance:
Individually evaluated for impairment	$	191,100			$	3,553			$	8,067			$	202,720
Collectively evaluated for impairment	$	550,827			$	905,475			$	—			$	1,456,302
Loans acquired with deteriorated credit quality	$	—			$	—			$	—			$	—
December 31, 2012:
Allowance for Loan Losses:
Allowance for losses at January 1, 2012	$	24,221			$	3,297			$	—			$	27,518
Provision for loan loss	5,225				11,593				—				16,818
Loans charged-off	(21,460		)		(5,185		)		—				(26,645		)
Allowance for losses at December 31, 2012	$	7,986			$	9,705			$	—			$	17,691
Ending balance:
Individually evaluated for impairment	$	2,142			$	3,236			$	—			$	5,378
Collectively evaluated for impairment	$	5,844			$	6,469			$	—			$	12,313
Loans acquired with deteriorated credit quality	$	—			$	—			$	—			$	—
Loans:
Ending balance:
Individually evaluated for impairment	$	177,055			$	4,689			$	8,324			$	190,068
Collectively evaluated for impairment	$	489,996			$	1,187,874			$	—			$	1,677,870
Loans acquired with deteriorated credit quality	$	—			$	751			$	—			$	751
Credit quality indicators
Bank Loans
RSO uses a risk grading matrix to assign grades to bank loans.  Loans are graded at inception and updates to assigned grades are made continually as new information is received.  Loans are graded on a scale of 1-5 with 1 representing RSO’s highest rating and 5 representing its lowest rating.  RSO also designates loans that are sold after the period end as held for sale at the lower of their fair market value or cost, net of any allowances and costs associated with the loan sales.  RSO considers metrics such as performance of the underlying company, liquidity, collectability of interest, enterprise valuation, default probability, ratings from rating agencies, and industry dynamics in grading its bank loans.
Credit risk profiles of bank loans were as follows (in thousands):
	Rating 1				Rating 2				Rating 3				Rating 4			Rating 5			Held for Sale			Total
As of September 30, 2013
Bank loans	$	514,277			$	39,123			$	16,206			$	3,518		$	3,553		$	332,351		$	909,028
As of December 31, 2012
Bank loans	$	1,095,148			$	33,677			$	27,837			$	16,318		$	5,440		$	14,894		$	1,193,314
All of RSO’s bank loans are performing with the exception of three loans with an amortized cost of $3.6 million as of September 30, 2013, none of which defaulted during the three months ended September 30, 2013. As of December 31, 2012, all of RSO's bank loans were performing with the exception of five loans with an amortized cost of $5.4 million, one of which defaulted as of December 31, 2012, three of which defaulted as of March 31, 2012 (including a loan acquired with deteriorated credit quality as a result of the acquisition of Whitney CLO I), and one of which defaulted on December 31, 2011.
Commercial Real Estate Loans
RSO uses a risk grading matrix to assign grades to commercial real estate loans.  Loans are graded at inception and updates to assigned grades are made continually as new information is received.  Loans are graded on a scale of 1-4 with 1 representing RSO’s highest rating and 4 representing its lowest rating.  RSO also designates loans that are sold after the period end at the lower of their fair market value or cost, net of any allowances and costs associated with the loan sales.  In addition to the underlying performance of the loan collateral, RSO considers metrics such as the strength of underlying sponsorship, payment history, collectability of interest, structural credit enhancements, market trends and loan terms in grading its commercial real estate loans.
Credit risk profiles of commercial real estate loans were as follows (in thousands):
	Rating 1				Rating 2				Rating 3				Rating 4			Held for Sale			Total
As of September 30, 2013
Whole loans	$	591,105			$	44,943			$	32,067			$	—		$	—		$	668,115
B notes	16,238				—				—				—			—			16,238
Mezzanine loans	57,574				—				—				—			—			57,574
	$	664,917			$	44,943			$	32,067			$	—		$	—		$	741,927
As of December 31, 2012
Whole loans	$	427,456			$	—			$	106,482			$	—		$	34,000		$	567,938
B notes	16,327				—				—				—			—			16,327
Mezzanine loans	38,296				—				44,490				—			—			82,786
	$	482,079			$	—			$	150,972			$	—		$	34,000		$	667,051
All of RSO’s commercial real estate loans were performing as of September 30, 2013 and December 31, 2012.
Loan Portfolios Aging Analysis
The following table shows the loan portfolio aging analysis as of the dates indicated at cost basis (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
September 30, 2013:
Whole loans	$	—			$	—			$	—			$	—		$	668,115		$	668,115		$	—
B notes	—				—				—				—			16,238			16,238			—
Mezzanine loans	—				—				—				—			57,574			57,574			—
Bank loans	—				—				3,553				3,553			905,475			909,028			—
Loans receivable- related party	—				—				—				—			8,067			8,067			—
Total loans	$	—			$	—			$	3,553			$	3,553		$	1,655,469		$	1,659,022		$	—
December 31, 2012:
Whole loans	$	—			$	—			$	—			$	—		$	567,938		$	567,938		$	—
B notes	—				—				—				—			16,327			16,327			—
Mezzanine loans	—				—				—				—			82,786			82,786			—
Bank loans	1,549				—				3,891				5,440			1,187,874			1,193,314			—
Loans receivable- related party	—				—				—				—			8,324			8,324			—
Total loans	$	1,549			$	—			$	3,891			$	5,440		$	1,863,249		$	1,868,689		$	—
Impaired Loans
The following tables show impaired loans in the categories indicated (in thousands):
	Recorded Balance				Unpaid Principal Balance				Specific Allowance				Average Investment in Impaired Loans			Interest Income Recognized
September 30, 2013:
Loans without a specific valuation allowance:
Whole loans	$	127,961			$	127,961			$	—			$	121,371		$	6,951
B notes	—				—				—				—			—
Mezzanine loans	38,072				38,072				—				38,072			1,300
Bank loans	—				—				—				—			—
Loans receivable - related party	5,924				5,924				—				—			—
Loans with a specific valuation allowance:
Whole loans	25,067				25,067				(4,067		)		24,562			1,824
B notes	—				—				—				—			—
Mezzanine loans	—				—				—				—			—
Bank loans	3,553				3,553				(1,882		)		—			—
Loans receivable - related party	—				—				—				—			—
Total:
Whole loans	$	153,028			$	153,028			$	(4,067	)		$	145,933		$	8,775
B notes	—				—				—				—			—
Mezzanine loans	38,072				38,072				—				38,072			1,300
Bank loans	3,553				3,553				(1,882		)		—			—
Loans receivable - related party	5,924				5,924				—				—			—
	$	200,577			$	200,577			$	(5,949	)		$	184,005		$	10,075
December 31, 2012:
Loans without a specific valuation allowance:
Whole loans	$	115,841			$	115,841			$	—			$	114,682		$	3,436
B notes	—				—				—				—			—
Mezzanine loans	38,072				38,072				—				38,072			367
Bank loans	—				—				—				—			—
Loans receivable - related party	6,754				6,754				—				—			851
Loans with a specific valuation allowance:
Whole loans	23,142				23,142				(2,142		)		22,576			801
B notes	—				—				—				—			—
Mezzanine loans	—				—				—				—			—
Bank loans	5,440				5,440				(3,236		)		—			—
Loans receivable - related party	—				—				—				—			—
Total:
Whole loans	$	138,983			$	138,983			$	(2,142	)		$	137,258		$	4,237
B notes	—				—				—				—			—
Mezzanine loans	38,072				38,072				—				38,072			367
Bank loans	5,440				5,440				(3,236		)		—			—
Loans receivable - related party	6,754				6,754				—				—			851
	$	189,249			$	189,249			$	(5,378	)		$	175,330		$	5,455
Troubled- Debt Restructurings
The following tables show troubled-debt restructurings in RSO's loan portfolio (in thousands):
	Number of Loans		Pre-Modification Outstanding Recorded Balance				Post-Modification Outstanding Recorded Balance
Three Months Ended September 30, 2013:
Whole loans	2		$	48,374			$	52,716
B notes	—		—				—
Mezzanine loans	—		—				—
Bank loans	—		—				—
Loans receivable - related party	—		—				—
Total loans	2		$	48,374			$	52,716
Three Months Ended September 30, 2012:
Whole loans	2		$	42,550			$	42,550
B notes	—		—				—
Mezzanine loans	1		38,072				38,072
Bank loans	—		—				—
Loans receivable	—		—				—
Loans receivable - related party	—		—				—
Total loans	3		$	80,622			$	80,622
Nine Months Ended September 30, 2013:
Whole loans	4		$	104,702			$	109,044
B notes	—		—				—
Mezzanine loans	—		—				—
Bank loans	—		—				—
Loans receivable - related party	1		6,592				6,592
Total loans	5		$	111,294			$	115,636
Nine Months Ended September 30, 2012:
Whole loans	5		$	168,708			$	151,422
B notes	—		—				—
Mezzanine loans	1		38,072				38,072
Bank loans	—		—				—
Loans receivable	—		—				—
Loans receivable - related party	1		7,797				7,797
Total loans	7		$	214,577			$	197,291
As of September 30, 2013 and December 31, 2012, there were no troubled-debt restructurings that subsequently defaulted.
J. Intangible assets - RSO
Intangible assets represent identifiable intangible assets acquired as a result of RSO’s acquisition of RCAM in February 2011, its conversion of loans to investments in real estate in June 2011, and the acquisition of real estate in August 2011.  RSO amortizes identified intangible assets to expense over their estimated lives or period of benefit using the straight-line method.  RSO evaluates intangible assets for impairment as events and circumstances change.  In October 2012, RSO purchased 66.6% of preferred equity and began consolidating Whitney CLO I, one of the RCAM CLOs. As a result of this transaction and the consolidation of Whitney CLO I, RSO wrote-off the unamortized balance of $2.6 million, the intangible asset associated with this CLO, which was recorded in gain/(loss) on consolidation in the RSO consolidated statement of income during the year ended December 31, 2012. In May 2013, RSO purchased additional equity, increasing its ownership percentage to 68.3%. Due to an event whereby a second CLO liquidated in early 2013, RSO accelerated the amortization of the remaining balance of its intangible asset and recorded a $657,000 charge to depreciation and amortization on the consolidated statement of income during the year ended December 31, 2012. RSO expects to record amortization expense on intangible assets of approximately $1.9 million for the year ending December 31, 2013, and $1.8 million for the years ending December 31, 2014, 2015, 2016 and 2017.  The weighted average amortization period was 8.0 years and 8.7 years at September 30, 2013 and December 31, 2012, respectively and the accumulated amortization was $12.0 million and $10.5 million at September 30, 2013 and December 31, 2012, respectively.
The following table summarizes intangible assets at September 30, 2013 and December 31, 2012 (in thousands).
	Beginning Balance				Accumulated Amortization				Net Assets
September 30, 2013:
Investment in RCAM	$	21,213			$	(9,526	)		$	11,687
Investments in real estate:
In-place leases	2,461				(2,421		)		40
Above (below) market leases	29				(28		)		1
	2,490				(2,449		)		41
Total intangible assets	$	23,703			$	(11,975	)		$	11,728
December 31, 2012:
Investment in RCAM	$	21,213			$	(8,108	)		$	13,105
Investments in real estate:
In-place leases	2,461				(2,379		)		82
Above (below) market leases	29				(24		)		5
	2,490				(2,403		)		87
Total intangible assets	$	23,703			$	(10,511	)		$	13,192
For the three and nine months ended September 30, 2013, RSO recognized $1.2 million and $4.2 million, respectively of fee income related to the investment in RCAM. For the three and nine months ended September 30, 2012, RSO recognized $1.8 million and $5.4 million, respectively of fee income related to the investment in RCAM.
K. Borrowings - RSO
RSO historically has financed the acquisition of its investments, including investment securities, loans and lease receivables, through the use of secured and unsecured borrowings in the form of CDOs, securitized notes, repurchase agreements, secured term facilities, warehouse facilities and trust preferred securities issuances.  Certain information with respect to RSO’s borrowings at September 30, 2013 and December 31, 2012 is summarized in the following table (in thousands, except percentages):
	Outstanding				Weighted		Weighted		Value of
	Borrowings				Average		Average		Collateral
					Borrowing		Remaining
					Rate		Maturity
September 30, 2013:
RREF CDO 2006-1 Senior Notes (1)	$	95,151			1.86%		32.9 years		$	170,255
RREF CDO 2007-1 Senior Notes (2)	178,575				0.85%		33.0 years		325,551
Apidos CDO I Senior Notes (3)	101,827				1.53%		3.8 years		117,827
Apidos CDO III Senior Notes (4)	145,875				0.86%		6.7 years		157,009
Apidos Cinco CDO Senior Notes (5)	320,997				0.77%		6.6 years		339,154
Apidos CLO VIII Senior Notes (6)	302,916				2.09%		17 days		351,434
Apidos CLO VIII Securitized Borrowings (10)	18,444				14.13%		17 days		—
Whitney CLO I Senior Notes(9)	—				—%		N/A		8,573
Whitney CLO I Securitized Borrowings (9)	2,424				5.78%		N/A		—
Unsecured Junior Subordinated Debentures (7)	50,956				4.22%		22.9 years		—
Repurchase Agreements (8)	205,265				2.29%		18 days		284,290
Total	$	1,422,430			1.73%		9.6 years		$	1,754,093
December 31, 2012:
RREF CDO 2006-1 Senior Notes (1)	$	145,664			1.42%		33.6 years		$	295,759
RREF CDO 2007-1 Senior Notes (2)	225,983				0.81%		33.8 years		292,980
Apidos CDO I Senior Notes (3)	202,969				1.07%		4.6 years		217,745
Apidos CDO III Senior Notes (4)	221,304				0.80%		7.5 years		232,655
Apidos Cinco CDO Senior Notes (5)	320,550				0.82%		7.4 years		344,105
Apidos CLO VIII Senior Notes (6)	300,951				2.16%		8.8 years		351,014
Apidos CLO VIII Securitized Borrowings (10)	20,047				15.27%		8.8 years		—
Whitney CLO I Senior Notes(9)	171,555				1.82%		4.2 years		191,704
Whitney CLO I Securitized Borrowings (9)	5,860				9.50%		4.2 years		—
Unsecured Junior Subordinated Debentures (7)	50,814				4.26%		23.7 years		—
Repurchase Agreements (8)	106,303				2.28%		18 days		145,234
Mortgage Payable	13,600				4.17%		5.6 years		18,100
Total	$	1,785,600			1.62%		12.5 years		$	2,089,296
-1	Amount represents principal outstanding of $95.4 million and $146.4 million less unamortized issuance costs of $268,000 and $728,000 as of September 30, 2013 and December 31, 2012, respectively.  This CDO transaction closed in August 2006.
-2	Amount represents principal outstanding of $179.4 million and $227.4 million less unamortized issuance costs of $786,000 and $1.4 million as of September 30, 2013 and December 31, 2012, respectively.  This CDO transaction closed in June 2007.
-3	Amount represents principal outstanding of $101.8 million and $203.2 million less unamortized issuance costs of $0 and $274,000 as of September 30, 2013 and December 31, 2012, respectively.  This CDO transaction closed in August 2005.
-4	Amount represents principal outstanding of $146.1 million and $222 million less unamortized issuance costs of $205,000 and $659,000 as of September 30, 2013 and December 31, 2012, respectively.  This CDO transaction closed in May 2006.
-5	Amount represents principal outstanding of $322.0 million and $322.0 million less unamortized issuance costs of $1.0 million and $1.5 million as of September 30, 2013 and December 31, 2012, respectively.  This CDO transaction closed in May 2007.
-6	Amount represents principal outstanding of $317.6 million and $317.6 million, less unamortized issuance costs of $4.1 million and $4.7 million, and less unamortized discounts of $10.6 million and $11.9 million as of September 30, 2013 and December 31, 2012, respectively.  This CDO transaction closed in October 2011. Apidos CLO VIII was called and the notes were paid in full in October 2013.
-7	Amount represents junior subordinated debentures issued to RCT I and RCT II in May 2006 and September 2006, respectively.
-8	Amount represents principal outstanding of $52.7 million and $47.5 million less unamortized deferred debt costs of $47,000 and $23,000 plus accrued interest costs of $25,000 and $27,000 related to CMBS repurchase facilities as of September 30, 2013 and December 31, 2012, respectively, and principal outstanding of $153.8 million and $59.1 million less unamortized deferred debt costs of $1.3 million and $348,000 plus accrued interest costs of $161,000 and $79,000 related to CRE repurchase facilities as of September 30, 2013 and December 31, 2012. Amount does not reflect CMBS repurchase agreement borrowings that are components of Linked Transactions. At September 30, 2013 and December 31, 2012, RSO had repurchase agreements of $63.7 million and $20.4 million and accrued interest costs of $41,000 and $10,000, respectively, that were linked to CMBS purchases and accounted for as Linked Transactions, and, as such, the linked repurchase agreements are not included in the above table.
-9	Amount represents principal outstanding of $174.1 million less unamortized discounts of $2.5 million as of December 31, 2012. In September 2013, the Company called and liquidated Whitney CLO I. As a result, substantially all of the remaining assets were sold and the balance on the outstanding notes totaling $103.7 million was paid down.
-10	The securitized borrowings are collateralized by the same assets as the Apidos CLO VIII Senior Notes and the Whitney CLO I Senior Notes, respectively.
Collateralized Debt Obligations
Resource Real Estate Funding CDO 2007-1
In June 2007, RSO closed RREF CDO 2007-1, a $500 million CDO transaction that provided financing for commercial real estate loans and commercial mortgage-backed securities.  The investments held by RREF CDO 2007-1 collateralize the debt it issued and, as a result, the investments are not available to RSO, its creditors or stockholders.  RREF CDO 2007-1 issued a total of $265.6 million of senior notes at par to unrelated investors.  RCC Real Estate, Inc. ("RCC Real Estate"), a wholly owned subsidiary of RSO, purchased 100% of the class H senior notes (rated  BBB+:Fitch), class K senior notes (rated BBB-:Fitch), class L senior notes (rated BB:Fitch) and class M senior notes (rated B: Fitch) for $68.0 million.  In addition, Resource Real Estate Funding 2007-1 CDO Investor, LLC, a subsidiary of RCC Real Estate, purchased a $41.3 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 RREF CDO 2007-1 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 RREF CDO 2007-1. The reinvestment period for RREF 2007-1 ended in June 2012 which results in the sequential pay down of notes as underlying collateral matures and pays down.  As of September 30, 2013, $62.6 million of Class A-1 notes have been paid down and $50.0 million of the class A-1R notes have been paid down.
At closing, the senior notes issued to investors by RREF CDO 2007-1 consisted of the following classes: (i) $180.0 million of class A-1 notes bearing interest at one-month LIBOR plus 0.28%; (ii) $50.0 million of unissued class A-1R notes, which allowed the CDO to fund future funding obligations under the existing whole loan participations that had future funding commitments; the undrawn balance of the class A-1R notes accrued a commitment fee at a rate per annum equal to 0.18%, the drawn balance bore interest at one-month LIBOR plus 0.32%; (iii) $57.5 million of class A-2 notes bearing interest at one-month LIBOR plus 0.46%; (iv) $22.5 million of class B notes bearing interest at one-month LIBOR plus 0.80%; (v) $7.0 million of class C notes bearing interest at a fixed rate of 6.423%; (vi) $26.8 million of class D notes bearing interest at one-month LIBOR plus 0.95%; (vii) $11.9 million of class E notes bearing interest at one-month LIBOR plus 1.15%; (viii) $11.9 million of class F notes bearing interest at one-month LIBOR plus 1.30%; (ix) $11.3 million of class G notes bearing interest at one-month LIBOR plus 1.55%; (x) $11.3 million of class H notes bearing interest at one-month LIBOR plus 2.30%; (xi) $11.3 million of class J notes bearing interest at one-month LIBOR plus 2.95%; (xii) $10.0 million of class K notes bearing interest at one-month LIBOR plus 3.25%; (xiii) $18.8 million of class L notes bearing interest at a fixed rate of 7.50% and (xiv) $28.8 million of class M notes bearing interest at a fixed rate of 8.50%.  All of the notes issued mature in September 2046, although RSO has the right to call the notes anytime after July 2017 until maturity.  The weighted average interest rate on all notes issued to outside investors and net of repurchased notes was 0.85% and 0.81% at September 30, 2013 and December 31, 2012, respectively.
During the nine months ended September 30, 2012, RSO repurchased $50.0 million of the Class A-1R notes in RREF CDO 2007-1 at a weighted average price of 90.00% to par which, after fees paid to an investment bank to finance the transaction and related expenses, resulting in a $3.6 million gain reported as a gain on the extinguishment of debt in RSO's consolidated statements of income. During the three and nine months ended September 30, 2013, RSO did not repurchase any notes.
As a result of RSO’s ownership of senior notes, both the notes repurchased subsequent to closing and those retained at the CDO’s closing eliminate in consolidation.
Resource Real Estate Funding CDO 2006-1
In August 2006, RSO closed RREF CDO 2006-1, a $345.0 million CDO transaction that provided financing for commercial real estate loans.  The investments held by RREF CDO 2006-1 collateralize the debt it issued and, as a result, the investments are not available to RSO, its creditors or stockholders.  RREF CDO 2006-1 issued a total of $308.7 million of senior notes at par to investors of which RCC Real Estate purchased 100% of the class J senior notes (rated BB: Fitch) and 100% of the class K senior notes (rated B:Fitch) for $43.1 million.  In addition, Resource Real Estate Funding 2006-1 CDO Investor, LLC, a subsidiary of RCC Real Estate, purchased a $36.3 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 RREF CDO 2006-1 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 RREF CDO 2006-1.  The reinvestment period for RREF 2006-1 ended in September 2011 which results in the sequential pay down of notes as underlying collateral matures and pays down.  As of September 30, 2013, $108.1 million, respectively, of Class A-1 notes have been paid down.
At closing, the senior notes issued to investors by RREF CDO 2006-1 consisted of the following classes:  (i) $129.4 million of class A-1 notes bearing interest at one-month LIBOR plus 0.32%; (ii) $17.4 million of class A-2 notes bearing interest at one-month LIBOR plus 0.35%; (iii) $5.0 million of class A-2 notes bearing interest at a fixed rate of 5.842%; (iv) $6.9 million of class B notes bearing interest at one-month LIBOR plus 0.40%; (v) $20.7 million of class C notes bearing interest at one-month LIBOR plus 0.62%; (vi) $15.5 million of class D notes bearing interest at one-month LIBOR plus 0.80%; (vii) $20.7 million of class E notes bearing interest at one-month LIBOR plus 1.30%; (viii) $19.8 million of class F notes bearing interest at one-month LIBOR plus 1.60%; (ix) $17.3 million of class G notes bearing interest at one-month LIBOR plus 1.90%; (x) $12.9 million of class H notes bearing interest at one-month LIBOR plus 3.75%, (xi) $14.7 million of class J notes bearing interest at a fixed rate of 6.00% and (xii) $28.4 million of class K notes bearing interest at a fixed rate of 6.00%.  All of the notes issued mature in August 2046, although RSO has the right to call the notes anytime after August 2016 until maturity.  The weighted average interest rate on all notes issued to outside investors and net of repurchased notes was 1.86% and 1.42% at September 30, 2013 and December 31, 2012, respectively.
During the nine months ended September 30, 2012, RSO repurchased $4.3 million of the Class A-1 notes and $4.0 million of the Class C notes in RREF CDO 2006-1 at a weighted average price of 81.63% to par which resulted in a $1.5 million gain reported as a gain on the extinguishment of debt in RSO's consolidated statements of income. During the three and nine months ended September 30, 2013, RSO did not repurchase any notes.
As a result of RSO’s ownership of senior notes, both the notes repurchased subsequent to closing and those retained at the CDO’s closing eliminate in consolidation.
Whitney CLO I
In February 2011, RSO acquired the rights to manage the assets held by Whitney CLO I. In October 2012, RSO purchased a $20.9 million preferred equity interest at a discount of 42.5% which represents 66.6% of the outstanding preference shares in Whitney CLO I. In May 2013, RSO purchased an additional $550,000 equity interest in Whitney CLO I and as of September 30, 2013 holds 68.3% of the outstanding preference shares. Based upon those purchases, RSO determined that it had a controlling interest and consolidated Whitney CLO I. The preferred equity interest is subordinated in right of payment to all other securities issued by Whitney CLO I. In September 2013, RSO liquidated Whitney CLO I, and as a result substantially all of the assets were sold. Total proceeds from the sale of these assets, plus proceeds from previous sales and paydowns in the CLO were used to pay down the remaining balance on the outstanding notes of $103.7 million.
The balance of senior notes issued to investors when RSO acquired a controlling interest in October 2012 were as follows: (i) $48.8 million of class A-1L notes bearing interest at LIBOR plus 0.32%; (ii) $26.5 million of class A-1LA notes bearing interest at LIBOR plus 0.29%; (iii) $36.5 million of class A-1LB notes bearing interest at LIBOR plus 0.45%; (iv) $19.8 million of class A-2F notes bearing interest at LIBOR plus 5.19%; (v) $15.0 million of class A-2L notes bearing interest at LIBOR plus 0.57%; (vi) $25.0 million of class A-3L notes bearing interest at LIBOR plus 1.05%; (vii) $23.5 million of class B-1LA notes bearing interest at LIBOR plus 2.10%; (viii) $14.4 million of class B-1LB notes bearing interest at LIBOR plus 1.00%. All of the notes issued mature on March 1, 2017. RSO has the right to call the notes anytime after March 1, 2009 until maturity in March 2017. The weighted average interest rate on all notes was 0% and 1.82% at September 30, 2013 and December 31, 2012, respectively.
Apidos CLO VIII
In October 2011, RSO closed Apidos CLO VIII, a $350.0 million CLO transaction that provides financing for bank loans.  The investments held by Apidos CLO VIII collateralize the debt it issued and, as a result, the investments are not available to RSO, its creditors or stockholders.  Apidos CLO VIII issued a total of $317.6 million of senior notes at a discount of 4.4% to investors and RCC Commercial purchased a $15.0 million interest representing 43.0% of the outstanding subordinated debt.  The remaining 57.0% of subordinated debt is owned by unrelated third parties.  The subordinated debt interest is subordinated in right of payment to all other securities issued by Apidos CLO VIII.
The senior notes issued to investors by Apidos CLO VIII consist of the following classes: (i) $231.2 million of class A-1 notes bearing interest at LIBOR plus 1.5%; (ii) $35.0 million of class A-2 notes bearing interest at LIBOR plus 2.0%; (iii) $17.3 million of class B-1 notes bearing interest at LIBOR plus 2.5%; (iv) $6.8 million of class B-2 notes bearing interest at LIBOR plus 2.5%; (v) $14.1 million of class C notes bearing interest at LIBOR plus 3.1% and (vi) $13.2 million of class D notes bearing interest at LIBOR plus 4.5%. All of the notes issued mature on October 17, 2021, although RSO has the right to call the notes anytime from October 17, 2013 until maturity.  The weighted average interest rate on all notes was 2.09% and 2.16% at September 30, 2013 and December 31, 2012, respectively. In October 2013, Apidos CLO VIII was called and liquidated. Proceeds from the liquidation were used to pay the notes down in full.
Apidos Cinco CDO
In May 2007, RSO closed Apidos Cinco CDO, a $350.0 million CDO transaction that provides financing for bank loans.  The investments held by Apidos Cinco CDO collateralize the debt it issued and, as a result, the investments are not available to RSO, its creditors or stockholders.  Apidos Cinco CDO issued a total of $322.0 million of senior notes at par to investors and RCC Commercial purchased a $28.0 million equity interest representing 100% of the outstanding preference shares.  The reinvestment period for Apidos Cinco CDO will end in May 2014.  The equity interest is subordinated in right of payment to all other securities issued by Apidos Cinco CDO.
The senior notes issued to investors by Apidos Cinco CDO consist of the following classes: (i) $37.5 million of class A-1 notes bearing interest at LIBOR plus 0.24%; (ii) $200.0 million of class A-2a notes bearing interest at LIBOR plus 0.23%; (iii) $22.5 million of class A-2b notes bearing interest at LIBOR plus 0.32%; (iv) $19.0 million of class A-3 notes bearing interest at LIBOR plus 0.42%; (v) $18.0 million of class B notes bearing interest at LIBOR plus 0.80%; (vi) $14.0 million of class C notes bearing interest at LIBOR plus 2.25% and (vii) $11.0 million of class D notes bearing interest at LIBOR plus 4.25%. All of the notes issued mature on May 14, 2020, although RSO has the right to call the notes anytime after May 14, 2011 until maturity.  The weighted average interest rate on all notes was 0.77% and 0.82% at September 30, 2013 and December 31, 2012, respectively.
Apidos CDO III
In May 2006, RSO closed Apidos CDO III, a $285.5 million CDO transaction that provides financing for bank loans.  The investments held by Apidos CDO III collateralize the debt it issued and, as a result, the investments are not available to RSO, its creditors or stockholders.  Apidos CDO III issued a total of $262.5 million of senior notes at par to investors and RCC Commercial purchased a $23.0 million equity interest representing 100% of the outstanding preference shares. The equity interest is subordinated in right of payment to all other securities issued by Apidos CDO III.
At closing, the senior notes issued to investors by Apidos CDO III consisted of the following classes:  (i) $212.0 million of class A-1 notes bearing interest at 3-month LIBOR plus 0.26%; (ii) $19.0 million of class A-2 notes bearing interest at 3-month LIBOR plus 0.45%; (iii) $15.0 million of class B notes bearing interest at 3-month LIBOR plus 0.75%; (iv) $10.5 million of class C notes bearing interest at 3-month LIBOR plus 1.75%; and (v) $6.0 million of class D notes bearing interest at 3-month LIBOR plus 4.25%.  All of the notes issued mature on September 12, 2020, although RSO has the right to call the notes anytime after September 12, 2011 until maturity.  The weighted average interest rate on all notes was 0.86% and 0.80% at September 30, 2013 and December 31, 2012, respectively. The reinvestment period for Apidos CDO III ended in June 2012 which results in the sequential pay down of notes as underlying collateral matures and pays down.  As of September 30, 2013, $116.4 million of Class A-1 notes have been paid down.
Apidos CDO I
In August 2005, RSO closed Apidos CDO I, a $350.0 million CDO transaction that provides financing for bank loans.  The investments held by Apidos CDO I collateralize the debt it issued and, as a result, the investments are not available to RSO, its creditors or stockholders.  Apidos CDO I issued a total of $321.5 million of senior notes at par to investors and RCC Commercial purchased a $28.5 million equity interest representing 100% of the outstanding preference shares.  The equity interest is subordinated in right of payment to all other securities issued by Apidos CDO I.
At closing, the senior notes issued to investors by Apidos CDO I consisted of the following classes:  (i) $259.5 million of class A-1 notes bearing interest at 3-month LIBOR plus 0.26%; (ii) $15.0 million of class A-2 notes bearing interest at 3-month LIBOR plus 0.42%; (iii) $20.5 million of class B notes bearing interest at 3-month LIBOR plus 0.75%; (iv) $13.0 million of class C notes bearing interest at 3-month LIBOR plus 1.85%; and (v) $8.0 million of class D notes bearing interest at a fixed rate of 9.25%.  All of the notes issued mature on July 27, 2017, although RSO has the right to call the notes anytime after July 27, 2010 until maturity.  The weighted average interest rate on all notes was 1.52% and 1.07% at September 30, 2013 and December 31, 2012, respectively. The reinvestment period for Apidos CDO I ended in July 2011 which results in the sequential pay down of notes as underlying collateral matures and pays down.  As of September 30, 2013, $217.7 million of Class A-1 Notes have been paid down.
During the nine months ended September 30, 2012, RSO repurchased $2.0 million of the Class B notes in Apidos CDO I at a weighted average price of 85.11% of par which resulted in a $298,000 gain reported as a gain on the extinguishment of debt in RSO's consolidated statements of income. During the three and nine months ended September 30, 2013, RSO did not repurchase any notes.
Unsecured Junior Subordinated Debentures
In May 2006 and September 2006, RSO formed RCT I and RCT II, respectively, for the sole purpose of issuing and selling capital securities representing preferred beneficial interests.  Although RSO owns 100% of the common securities of RCT I and RCT II, RCT I and RCT II are not consolidated into RSO’s consolidated financial statements because RSO is not deemed to be the primary beneficiary of these entities.  In connection with the issuance and sale of the capital securities, RSO issued junior subordinated debentures to RCT I and RCT II of $25.8 million each, representing RSO’s maximum exposure to loss.  The debt issuance costs associated with the junior subordinated debentures for RCT I and RCT II are included in RSO's borrowings and are being amortized into interest expense in RSO's consolidated statements of income using the effective yield method over a ten year period.
The debt issuance costs associated with the junior subordinated debentures for RCT I and RCT II at September 30, 2013 were $285,000 and $306,000, respectively.  The debt issuance costs associated with the junior subordinated debentures for RCT I and RCT II at December 31, 2012 were $358,000 and $377,000, respectively.  The rates for RCT I and RCT II, at September 30, 2013, were 4.22% and 4.22%, respectively.  The rates for RCT I and RCT II, at December 31, 2012, were 4.26% and 4.26%, respectively.
The rights of holders of common securities of RCT I and RCT II are subordinate to the rights of the holders of capital securities only in the event of a default; otherwise, the common securities’ economic and voting rights are pari passu with the capital securities.  The capital and common securities of RCT I and RCT II are subject to mandatory redemption upon the maturity or call of the junior subordinated debentures held by each.  Unless earlier dissolved, RCT I will dissolve on May 25, 2041 and RCT II will dissolve on September 29, 2041.  The junior subordinated debentures are the sole assets of RCT I and RCT II, mature on September 30, 2036 and October 30, 2036, respectively, and may be called at par by RSO any time after September 30, 2011 and October 30, 2011, respectively.  RSO records its investments in RCT I and RCT II’s common securities of $774,000 each as investments in unconsolidated trusts and records dividend income upon declaration by RCT I and RCT II.
Repurchase and Credit Facilities
CMBS – Term Repurchase Facility
In February 2011, the registrant's wholly-owned subsidiaries, RCC Commercial Inc. and RCC Real Estate, Inc.(collectively, the "RSO Subsidiaries"), entered into a master repurchase and securities contract (the “2011 Facility”) with Wells Fargo Bank, National Association (“Wells Fargo”).  Under the 2011 Facility, from time to time, the parties may enter into transactions in which the RSO Subsidiaries and Wells Fargo agree to transfer from the RSO Subsidiaries to Wells Fargo all of their right, title and interest to certain commercial mortgage backed securities and other assets (the “Assets”) against the transfer of funds by Wells Fargo to the RSO Subsidiaries, with a simultaneous agreement by Wells Fargo to transfer back to the RSO Subsidiaries such Assets at a date certain or on demand, against the transfer of funds from the RSO Subsidiaries to Wells Fargo.  The maximum amount of the Facility is $100.0 million which has a two year term with a one year option to extend, and an interest rate equal to the one-month LIBOR plus 1.00% plus a .25% initial structuring fee and a .25% extension fee upon exercise. On February 1, 2013, RSO exercised the option to extend the 2011 Facility to January 31, 2014 and negotiated another one year option to extend to January 31, 2015. The RSO Subsidiaries may enter into interest rate swaps and cap agreements for securities whose average life exceeds two years to mitigate interest rate risk under the 2011 Facility.
The 2011 Facility contains customary events of default, including payment defaults, breaches of covenants and/or certain representations and warranties, cross-defaults, guarantor defaults, and the institution of bankruptcy or insolvency proceedings that remain unstayed.  The remedies for such events of default are also customary for this type of transaction and include the acceleration of all obligations of the RSO Subsidiaries to repay the purchase price for purchased assets.
The 2011 Facility also contains margin call provisions relating to a decline in the market value of a security. Under these circumstances, Wells Fargo may require the RSO Subsidiaries to transfer cash in an amount sufficient to eliminate any margin deficit resulting from such a decline.
Under the terms of the 2011 Facility and pursuant to a guarantee agreement dated February 1, 2011 (the “ 2011 Guaranty”), RSO agreed to unconditionally and irrevocably guarantee to Wells Fargo the prompt and complete payment and performance of (a) all payment obligations owing by the RSO Subsidiaries to Wells Fargo under or in connection with the Facility and any other governing agreements and any and all extensions, renewals, modifications, amendments or substitutions of the foregoing; (b) all expenses, including, without limitation, reasonable attorneys' fees and disbursements, that are incurred by Wells Fargo in the enforcement of any of the foregoing or any obligation of the registrant; and (c) any other obligations of the RSO Subsidiaries with respect to Wells Fargo under each of the governing documents.  The 2011 Guaranty includes covenants that, among other things, limit RSO's leverage and debt service ratios and require maintenance of certain levels of cash and net worth. RCC Real Estate and RCC Commercial were in compliance with all debt covenants as of September 30, 2013.
At September 30, 2013, RCC Real Estate and RCC Commercial had borrowed $51.0 million (net of $47,000 of deferred debt issuance costs), all of which the RSO Subsidiaries had guaranteed.  At September 30, 2013, borrowings under the repurchase agreement were secured by highly-rated CMBS with an estimated fair value of $60.1 million and a weighted average interest rate of one-month LIBOR plus 1.22%, or 1.30%.  At December 31, 2012, RCC Real Estate had borrowed $42.5 million (net of $23,000 of deferred debt issuance costs), all of which the RSO subsidiaries had guaranteed.  At December 31, 2012, borrowings under the repurchase agreement were secured by highly-rated CMBS with an estimated fair value of $51.4 million and a weighted average interest rate of one-month LIBOR plus 1.30%, or 1.53%. At September 30, 2013, RSO also had repurchase agreements of $9.3 million, with a weighted average interest rate of one-month LIBOR plus 1.42% or 1.60% that were linked to CMBS purchases and accounted for as Linked Transactions, and as such, the linked repurchase agreements are not included in the borrowings table. The borrowings under the repurchase agreement were secured by highly-rated CMBS with an estimated fair value of $11.3 million as of September 30, 2013. At December 31, 2012, RSO also had repurchase agreements of $12.2 million, with a weighted average interest rate of one-month LIBOR plus 1.42% or 1.60%, respectively. The borrowings under the repurchase agreement were secured by highly-rated CMBS with an estimated fair value of $14.6 million as of December 31, 2012.
The following table shows information about the amount at risk under this facility (dollars in thousands):
	Amount at				Weighted		Weighted
	Risk (1)				Average		Average
					Maturity in Days		Interest Rate
September 30, 2013:
Wells Fargo Bank, National Association.(2)	$	11,195			18		1.3	%
December 31, 2012:
Wells Fargo Bank, National Association.(2)	$	10,722			18		1.53	%
-1	Equal to the estimated fair value of securities or loans sold, plus accrued interest income, minus the sum of repurchase agreement liabilities plus accrued interest expense.
-2	$9.3 million and $12.2 million of linked repurchase agreement borrowings are being included as derivative instruments as of September 30, 2013 and December 31, 2012, respectively.
CRE – Term Repurchase Facilities
On February 27, 2012, RCC Real Estate entered into a master repurchase and securities agreement (the "2012 Facility") with Wells Fargo to finance the origination of commercial real estate loans.  The 2012 facility had a maximum amount of $150.0 million and an initial 18 month term with two one year options to extend.  RSO paid an origination fee of 37.5 basis points (0.375)%.  RSO guaranteed RCC Real Estate’s performance of its obligations under the 2012 Facility.  On April 2, 2013, RCC Real Estate entered into an amendment which increased the size to $250.0 million and extended the current term of the 2012 Facility to February of 2015 and provides two additional one year extension options at RSO's discretion. RCC Real Estate paid an additional structuring fee of $101,000 and an extension fee of $938,000 in connection with the amendment and will amortize the additional fees over the term of the extension. At September 30, 2013, RCC Real Estate had borrowed $152.5 million (net of $1.3 million of deferred debt issuance costs), all of which RSO had guaranteed.  At September 30, 2013, borrowings under the 2012 Facility were secured by 20 commercial real estate loans with an estimated fair value of $220.2 million and a weighted average interest rate of one-month LIBOR plus 2.43%, or 2.61%. At December 31, 2012, RCC Real Estate had borrowed $58.8 million (net of $348,000 of deferred debt issuance costs), all of which RSO had guaranteed.  At December 31, 2012, borrowings under the 2012 Facility were secured by eight commercial real estate loans with an estimated fair value of $85.4 million and a weighted average interest rate of one-month LIBOR plus 2.67%, or 2.88%.
This 2012 Facility contains customary events of default, including payment defaults, breaches of covenants and/or certain representations and warranties, cross-defaults, guarantor defaults, and the institution of bankruptcy or insolvency proceedings that remain unstayed.  The remedies for such events of default are also customary for this type of transaction and include the acceleration of all obligations of RSO to repay the purchase price for purchased assets.
The 2012 Facility also contains margin call provisions relating to a decline in the market value of a security. Under these circumstances, Wells Fargo may require RSO to transfer cash in an amount sufficient to eliminate any margin deficit resulting from such a decline.
Under the terms of the 2012 Facility and pursuant to a guarantee agreement dated February 27, 2012 (the “2012 Guaranty”), RSO agreed to unconditionally and irrevocably guarantee to Wells Fargo the prompt and complete payment and performance of (a) all payment obligations owing by the RSO Companies to Wells Fargo under or in connection with the 2012 Facility and any other governing agreements and any and all extensions, renewals, modifications, amendments or substitutions of the foregoing; (b) all expenses, including, without limitation, reasonable attorneys' fees and disbursements, that are incurred by Wells Fargo in the enforcement of any of the foregoing or any obligation of the registrant; and (c) any other obligations of RSO with respect to Wells Fargo under each of the governing documents.  The 2012 Guaranty includes covenants that, among other things, limit the registrant's leverage and debt service ratios and require maintenance of certain levels of cash and net worth. RCC Real Estate was in compliance with all debt covenants as of September 30, 2013.
The following table shows information about the amount at risk under the facility (dollars in thousands);
	Amount at				Weighted		Weighted
	Risk (1)				Average		Average
					Maturity in Days		Interest Rate
September 30, 2013:
Wells Fargo	$	66,619			18		2.61	%
31-Dec-12
Wells Fargo	$	26,332			18		2.88	%
-1	Equal to the estimated fair value of securities or loans sold, plus accrued interest income, minus the sum of repurchase agreement liabilities plus accrued interest expense.
On July 19, 2013, RCC Real Estate's wholly owned subsidiary, RCC Real Estate SPE 5 ("SPE 5") entered into a master repurchase and securities agreement (the "DB Facility") with Deutsche Bank AG, Cayman Islands Branch ("DB") to finance the origination of commercial real estate loans.  The DB Facility had a maximum amount of $200 million and an initial 12 month term with two one-year extensions at the option of SPE 5 and subject further to the right of SPE 5 to repurchase the assets held in the facility earlier. RSO paid a structuring fee of 0.25% of the maximum facility amount, as well as other reasonable closing costs. RSO guaranteed SPE 5's performance of its obligations under the DB Facility. There were no outstanding borrowings under this facility as of September 30, 2013 or December 31, 2012.
The DB Facility contains provisions that provide DB with certain rights if certain credit events have occurred with respect to one or more assets financed on the DB Facility to either repay a portion of the advance on such asset(s) or repay such advance in full (by repurchase of such asset(s). Depending on the nature of the credit event, such repayment may be required notwithstanding the availability of interest and principal payments from assets financed on the DB Facility, or may only be required to the extent of the availability of such payments.
The DB Facility contains events of default (subject to certain materiality thresholds and grace periods) customary for this type of financing arrangement, including but not limited to: payment defaults; bankruptcy or insolvency proceedings; a change of control of SPE 5 or RSO; breaches of covenants and/or certain representations and warranties; performance defaults by RSO; a judgment in an amount greater than $100,000 against SPE 5 or $5,000,000 in the aggregate against RSO; or a default involving the failure to pay or acceleration of a monetary obligation in excess of $100,000 of SPE 5 or $5.0 million of RSO. The remedies for such events of default are also customary for this type of transaction and include the acceleration of the principal amount outstanding under the DB Facility and the liquidation by DB of assets then subject to the DB Facility. RSO was in compliance with all debt covenants as of September 30, 2013.
Short-Term Repurchase Agreements
On November 6, 2012, RSO entered into a master repurchase and securities agreement with JP Morgan Securities LLC to finance the origination of CMBS.  There is no stated maximum amount of the facility and the repurchase agreement has no stated maturity with monthly resets of interest rates.  At September 30, 2013, RCC Real Estate had borrowed $17.8 million, all of which RSO had guaranteed, that were linked to CMBS purchases and accounted for as Linked Transactions, and as such, the linked repurchase agreements are not included in the borrowings table.  At September 30, 2013, borrowings under the repurchase agreement were secured by four CMBS bonds with an estimated fair value of $26.8 million and a weighted average interest rate of one-month LIBOR plus 0.79%, or 0.98%.  At December 31, 2012, RCC Real Estate had borrowed $4.7 million, all of which RSO had guaranteed, that were linked to CMBS purchases and accounted for as Linked Transactions, and as such, the linked repurchase agreements are not included in the borrowings table.  At December 31, 2012, borrowings under the repurchase agreement were secured by a CMBS bond with an estimated fair value of $7.2 million and a weighted average interest rate of one-month LIBOR plus 0.80%, or 1.01%.
The following table shows information about the amount at risk under this facility (dollars in thousands);
	Amount at				Weighted		Weighted
	Risk (1)				Average		Average
					Maturity in Days		Interest Rate
September 30, 2013:
JP Morgan Securities, LLC (2)	$	9,696			30		0.98	%
December 31, 2012:
JP Morgan Securities, LLC (2)	$	2,544			11		1.01	%
-1	Equal to the estimated fair value of securities or loans sold, plus accrued interest income, minus the sum of repurchase agreement liabilities plus accrued interest expense.
-2	$17.8 million and $4.7 million linked repurchase agreement borrowings are being included as derivative instruments as of September 30, 2013 and December 31, 2012.
On February 14, 2012, RCC Real Estate entered into a master repurchase and securities agreement with Wells Fargo Securities, LLC to finance the origination of CMBS.  There is no stated maximum amount of the facility and the repurchase agreement has no stated maturity date with monthly resets of interest rates.  RSO guaranteed RCC Real Estate’s performance of its obligations under the repurchase agreement.  At September 30, 2013, RCC Real Estate had borrowed $1.7 million, all of which RSO had guaranteed.  At September 30, 2013, borrowings under the repurchase agreement were secured by one CMBS bond with an estimated fair value of $2.8 million and a weighted average interest rate of one-month LIBOR plus 1.01%, or 1.19%. At December 31, 2012, RCC Real Estate had borrowed $1.9 million, all of which RSO had guaranteed.  At December 31, 2012, borrowings under the repurchase agreement were secured by one CMBS bond with an estimated fair value of $3.1 million and a weighted average interest rate of one-month LIBOR plus 1.25%, or 1.46%. At September 30, 2013, RSO also had repurchase agreements of $21.5 million, with a weighted average interest rate of one-month LIBOR plus 1.02% or 1.20%, that were linked to CMBS purchases and accounted for as Linked Transactions, and as such, the linked repurchase agreements are not included in the borrowings table. At September 30, 2013, borrowings under the repurchase agreement accounted for as Linked Transactions were secured by seven CMBS bonds with an estimated fair value of $31.1 million. At December 31, 2012, RSO also had repurchase agreements of $3.5 million, with a weighted average interest rate of one-month LIBOR plus 1.25% or 1.46% , respectively, that were linked to CMBS purchases and accounted for as Linked Transactions, and as such, the linked repurchase agreements are not included in the borrowings table. At December 31, 2012, borrowings under the repurchase agreement accounted for as Linked Transactions were secured by a CMBS bond with an estimated fair value of $5.7 million.
The following table shows information about the amount at risk under this facility (dollars in thousands);
	Amount at				Weighted		Weighted
	Risk (1)				Average		Average
					Maturity in Days		Interest Rate
September 30, 2013:
Wells Fargo Securities, LLC (2)	$	10,854			30		1.19	%
December 31, 2012:
Wells Fargo Securities, LLC (2)	$	1,956			28		1.46	%
-1	Equal to the estimated fair value of securities or loans sold, plus accrued interest income, minus the sum of repurchase agreement liabilities plus accrued interest expense.
-2	$21.5 million and $3.5 million of linked repurchase agreement borrowings are being included as derivative instruments as of September 30, 2013 and December 31, 2012.
On March 8, 2005, RCC Real Estate entered into a master repurchase and securities agreement with Deutsche Bank Securities Inc. to finance the origination of CMBS and commercial real estate loans.  There is no stated maximum amount of the facility and the repurchase agreement has an initial 12 month term with monthly resets of interest rates.  RSO guaranteed RCC Real Estate’s performance of its obligations under the repurchase agreement.   At September 30, 2013, RCC Real Estate had borrowed $15.1 million, all of which RSO had guaranteed, that were linked to CMBS purchases and accounted for as Linked Transactions, and as such, the linked repurchase agreements are not included in the borrowings table.  At September 30, 2013, borrowings under the repurchase agreement were secured by five CMBS bonds with an estimated fair value of $24.3 million and a weighted average interest rate of one-month LIBOR plus 1.27%, or 1.45%.  At December 31, 2012, RCC Real Estate had borrowed $3.1 million, all of which RSO had guaranteed, that were linked to CMBS purchases and accounted for as Linked Transactions, and as such, the linked repurchase agreements are not included in the borrowings table.  At December 31, 2012, borrowings under the repurchase agreement were secured by a CMBS bond with an estimated fair value of $5.1 million and a weighted average interest rate of one-month LIBOR plus 1.25%, or 1.46%.
The following table shows information about the amount at risk under this facility (dollars in thousands);
	Amount at				Weighted		Weighted
	Risk (1)				Average		Average
					Maturity in Days		Interest Rate
September 30, 2013:
Deutsche Bank Securities, Inc.	$	9,276			19		1.45	%
31-Dec-12
Deutsche Bank Securities, Inc.	$	2,069			7		1.46	%
-1	Equal to the estimated fair value of securities or loans sold, plus accrued interest income, minus the sum of repurchase agreement liabilities plus accrued interest expense.
Mortgage Payable
On August 1, 2011, RSO, through RCC Real Estate, purchased Whispertree Apartments, a 504 unit multi-family property located in Houston, Texas, for $18.1 million.  The property was 95% occupied at acquisition.  In conjunction with the purchase of the property, RSO entered into a seven year mortgage of $13.6 million with a lender.  The mortgage bears interest at a rate of one-month LIBOR plus 3.95%.  As of September 30, 2013, there were no outstanding borrowings under this agreement as the property was sold during the three months ended September 30, 2013 and the underlying mortgage was repaid. At December 31, 2012 there was $13.6 million outstanding and the borrowing rate was 4.17%.
. Related party transactions - RSO
Relationship with LEAF. LEAF originates and manages equipment leases and notes on behalf of RSO.
On March 5, 2010, RSO entered into agreements with Lease Equity Appreciation Fund II, L.P. (“LEAF II”) (an equipment leasing partnership sponsored by LEAF Financial and of which a LEAF Financial subsidiary is the general partner), pursuant to which RSO provided and funded an $8.0 million credit facility to LEAF II.  The credit facility initially had a one year term at 12% per year, payable quarterly, and was secured by all the assets of LEAF II including its entire ownership interest in LEAF II Receivables Funding.  RSO received a 1% origination fee in connection with establishing the facility.  The facility originally matured on March 3, 2011 and was extended until September 3, 2011 with a 1% extension fee paid on the outstanding loan balance.  On June 3, 2011, RSO entered into an amendment to extend the maturity to February 15, 2012 and decrease the interest rate from 12% to 10% per annum resulting in a troubled-debt restructuring under current accounting guidance.  On February 15, 2012, the credit facility was further amended to extend the maturity to February 15, 2013 with a 1% extension fee accrued and added to the amount outstanding.  On January 11, 2013, RSO entered into another amendment to extend the maturity to February 15, 2014 with an additional 1% extension fee accrued and added to the amount outstanding. The loan is current and performing with balances outstanding at September 30, 2013 and December 31, 2012 of $5.9 million and $6.8 million, respectively.
Relationship with CVC Credit Partners. On February 24, 2011, a subsidiary of RSO purchased 100% of the ownership interests in Churchill Pacific Asset Management LLC ("CPAM") from Churchill Financial Holdings LLC for $22.5 million.  CPAM subsequently changed its name to RCAM. Through RCAM, RSO is entitled to collect senior, subordinated and incentive fees related to five CLO holdings of approximately $1.9 billion in assets managed by RCAM.  RCAM is assisted by CVC Credit Partners in managing the five 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, 2013, CVC Credit Partners earned subordinated fees of $160,000 and $515,000, respectively. For the three and nine months ended September 30, 2012, CVC Credit Partners earned subordinated fees of $197,000 and $604,000, respectively. In October 2012, RSO purchased 66.6% of the preferred equity in one of the RCAM CLOs. In May 2013, RSO purchased additional equity in this CLO, increasing its ownership percentage to 68.3%. In September 2013, this CLO was called and the notes were paid down in full. Another RCAM-managed CLO also elected to redeem its outstanding notes in whole earlier this year in February 2013.
Relationship with Resource Real Estate. On June 21, 2011, RSO entered into a joint venture with an unaffiliated third party to form CR SLH Partners, L.P. (“SLH Partners”) to purchase a defaulted promissory note secured by a mortgage on a multi-family apartment building.  RSO purchased a 10% equity interest in the venture and also loaned SLH Partners $7.0 million to finance the project secured by a first mortgage lien on the property. On May 23, 2012, SLH Partners repaid the $7.0 million loan in its entirety.  The loan had a maturity date of September 21, 2012 and bore interest at a fixed rate of 10.0% per annum on the unpaid principal balance, payable monthly.   RSO received a commitment fee equal to 1.0% of the loan amount at the origination of the loan and received a $70,000 exit fee upon repayment.  RREM was appointed as the asset manager of the venture.  RREM performs lease review and approval, debt service collection, loan workout, foreclosure, disposition and permitting, as applicable.  RREM is also responsible for engaging third parties to perform day-to-day property management, property leasing, rent collection, maintenance, and capital improvements.  RREM receives an annual asset management fee equal to 2.0% of the gross receipts generated from the property.  RSO held a $1.1 million and $1.2 million preferred equity investment in SLH Partners as of September 30, 2013 and December 31, 2012, respectively.
Relationship with TBBK.  Walter Beach, a director of TBBK since 1999, has also served as a director of RSO since March 2005. On July 7, 2011, RSO and RCC Real Estate entered into a $10.0 million revolving credit facility with Bancorp.  The note matured on June 30, 2012 and was not renewed.
Relationship with Ledgewood.  Until 1996, Edward E. Cohen, a director who was RSO’s Chairman from its inception until November 2009, was of counsel to Ledgewood, P.C., a law firm.  In addition, one of RSO’s executive officers, Jeffrey F. Brotman, was employed by Ledgewood until 2007.  Mr. E. Cohen receives certain debt service payments from Ledgewood related to the termination of his affiliation with Ledgewood and its redemption of his interest in the firm.  Mr. Brotman also receives certain debt service payments from Ledgewood related to the termination of his affiliation with the firm.  For the three and nine months ended September 30, 2013, RSO paid Ledgewood $70,000 and $155,000, respectively, in connection with legal services rendered to RSO as compared to $160,000 and $277,000 for the three and nine months ended September 30, 2012, respectively.
M. Fair value of financial instruments - RSO
In analyzing the fair value of its investments accounted for on a fair value basis, RSO follows the fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.  RSO determines fair value based on quoted prices when available or, if quoted prices are not available, through the use of alternative approaches, such as using third party valuation firms or discounting the expected cash flows using market interest rates commensurate with the credit quality and duration of the investment.  The hierarchy followed defines three levels of inputs that may be used to measure fair value:
Level 1 - Quoted prices in active markets for identical assets and liabilities that the reporting entity has the ability to access at the measurement date.
Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset and liability or can be corroborated with observable market data for substantially the entire contractual term of the asset or liability.
Level 3 - Unobservable inputs that reflect the entity’s own assumptions about the assumptions that market participants would use in the pricing of the asset or liability and are consequently not based on market activity, but rather through particular valuation techniques.
The determination of where an asset or liability falls in the hierarchy requires significant judgment.  RSO evaluates its hierarchy disclosures each quarter; depending on various factors, it is possible that an asset or liability may be classified differently from quarter to quarter.  However, RSO expects that changes in classifications between levels will be rare.
Certain assets and liabilities are measured at fair value on a recurring basis.  The following is a discussion of these assets and liabilities as well as the valuation techniques applied to each for fair value measurement.
RSO reports its investment securities available-for-sale at fair value.  To determine fair value, RSO uses an independent third-party valuation firm utilizing market color as well as appropriate prepayment, default, and recovery rates.  These valuations are validated utilizing dealer quotes or bids. If there is a material difference between the value indicated by the third-party valuation firm and the dealer quote or bid, RSO will evaluate the difference which could result in an updated valuation from the third party or a revised dealer quote. Based on the market color available for each position, RSO categorizes these investments as either Level 2 or Level 3 in the fair value hierarchy.
RSO reports its investment securities, trading at fair value, based on an independent third-party valuation.  RSO evaluates the reasonableness of the valuation it receives by using a dealer quote.  If there is a material difference between the value indicated by the third party and a quote RSO receives, RSO will evaluate the difference.  Any changes in fair value are recorded on RSO’s results of operations as net unrealized (loss) gain on investment securities, trading.
The CMBS underlying RSO’s Linked Transactions are valued using the same techniques as those used for RSO’s other CMBS. The value of the underlying CMBS is then netted against the carrying amount (which approximates fair value) of the repurchase agreement borrowing at the valuation date. The fair value of Linked Transactions also includes accrued interest receivable on the CMBS and accrued interest payable on the underlying repurchase agreement borrowings. RSO’s Linked Transactions are classified as Level 2 or Level 3 in the fair value hierarchy.
Derivatives (interest rate swaps and interest rate caps), both assets and liabilities, are reported at fair value, and are valued by a third-party pricing agent using an income approach with models that use, as their primary inputs, readily observable market parameters.  This valuation process considers factors including interest rate yield curves, time value, credit factors and volatility factors.  Although RSO has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by RSO and its counterparties.  RSO assesses the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and, if material, categorizes those derivatives within Level 3 of the fair value hierarchy.
The following table presents information about RSO’s assets (including derivatives that are presented net) measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques utilized by RSO to determine such fair value as follows (in thousands):
	Level 1				Level 2				Level 3				Total
September 30, 2013:
Assets:
Investment securities, trading	$	—			$	—			$	12,099			$	12,099
Investment securities available-for-sale	4,972				85,826				129,886				220,684
CMBS - linked transactions	—				9,410				20,568				29,978
Total assets at fair value	$	4,972			$	95,236			$	162,553			$	262,761
Liabilities:
Derivatives (net)	$	—			$	442			$	11,766			$	12,208
Total liabilities at fair value	$	—			$	442			$	11,766			$	12,208
December 31, 2012:
Assets:
Investment securities, trading	$	—			$	—			$	24,843			$	24,843
Investment securities available-for-sale	9,757				132,561				89,272				231,590
CMBS - linked transactions	—				4,802				2,033				6,835
Total assets at fair value	$	9,757			$	137,363			$	116,148			$	263,268
Liabilities:
Derivatives (net)	$	—			$	610			$	14,077			$	14,687
Total liabilities at fair value	$	—			$	610			$	14,077			$	14,687
The following table presents additional information about assets which are measured at fair value on a recurring basis for which RSO has utilized Level 3 inputs (in thousands):
	Level 3
Beginning balance, January 1, 2013	$	116,148
Total gains or losses (realized/unrealized):
Included in earnings	8,530
Purchases	89,514
Sales	(30,196		)
Paydowns	(20,186		)
Unrealized gains (losses) – included in Accumulated other comprehensive income	(1,257		)
Transfers from level 2	—
Ending balance, September 30, 2013	$	162,553
The following table presents additional information about liabilities which are measured at fair value on a recurring basis for which RSO has utilized Level 3 inputs (in thousands):
	Level 3
Beginning balance, January 1, 2013	$	14,077
Unrealized gains – included in Accumulated other comprehensive income	(2,311		)
Ending balance, September 30, 2013	$	11,766
RSO had $255,000 and $811,000 of impairment losses included in earnings due to the other-than-temporary impairment charges on one and four securities during each of the three and nine months ended September 30, 2013, respectively. RSO had $9,000 and $180,000 of impairment losses included in earnings due to other-than-temporary impairment charges on two and four securities during the three and nine months ended September 30, 2012, respectively. These losses are included in the RSO consolidated statements of income as net impairment losses recognized in earnings.
Loans held for sale consist of bank loans and commercial real estate loans (“CRE loans”) identified for sale due to credit concerns.  Interest on loans held for sale is recognized according to the contractual terms of the loan and included in RSO's interest income on loans.  The fair value of bank loans held for sale and impaired bank loans is based on what secondary markets are currently offering for these loans.  As such, RSO classifies these loans as nonrecurring Level 2.  For RSO’s CRE loans where there is no primary market, fair value is measured using discounted cash flow analysis and other valuation techniques and these loans are classified as nonrecurring Level 3. The amount of nonrecurring fair value losses for impaired loans for the three and nine months ended September 30, 2013 was $69 and $3.1 million, respectively, as compared to $3.4 million and $5.6 million for the three and nine months ended September 30, 2012, respectively, and is included in RSO's consolidated statements of income as provision for loan losses.
The following table summarizes the financial assets and liabilities measured at fair value on a nonrecurring basis and indicates the fair value hierarchy of the valuation techniques utilized by RSO to determine such fair value as follows (in thousands):
	Level 1				Level 2				Level 3				Total
September 30, 2013:
Assets:
Loans held for sale	$	—			$	332,351			$	—			$	332,351
Impaired loans	—				1,046				—				1,046
Total assets at fair value	$	—			$	333,397			$	—			$	333,397
December 31, 2012:
Assets:
Loans held for sale	$	—			$	14,894			$	34,000			$	48,894
Impaired loans	—				4,366				21,000				25,366
Total assets at fair value	$	—			$	19,260			$	55,000			$	74,260
For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of September 30, 2013, the significant unobservable inputs used in the fair value measurements were as follows (in thousands):
	Fair Value at				Valuation Technique		Significant Unobservable Inputs		Significant
	30-Sep-13								Unobservable
									Input Value
Interest rate swap agreements	$	12,208			Discounted cash flow		Weighted average credit spreads		5.00%
RSO is required to disclose the fair value of financial instruments for which it is practicable to estimate that value.  The fair value of short-term financial instruments such as cash and cash equivalents, restricted cash, principal paydown receivable, interest receivable, distribution payable and accrued interest expense approximates their carrying value on RSO's consolidated balance sheet.
The fair value of RSO's Level 2 loans held-for-investment was primarily measured using a third-party pricing service.  The fair value of RSO’s Level 3 loans held-for-investment was measured by discounting the expected future cash flows using the current interest rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.
Loans receivable-related party are estimated by discounting the expected future cash flows using the current interest rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.
CDO notes are valued using the dealer quotes, typically the dealer who underwrote the CDO in which the notes are held.
Junior subordinated notes are estimated by obtaining quoted prices for similar assets in active markets.
The fair values of RSO’s remaining financial instruments that are not reported at fair value on the RSO consolidated balance sheets are reported below (in thousands):
					Fair Value Measurements
	Carrying Amount				Fair Value				Quoted Prices				Significant			Significant
									in Active Markets				Other			Unobservable
									for Identical				Observable			Inputs
									Assets of Liabilities				Inputs			(Level 3)
									(Level 1)				(Level 2)
September 30, 2013:
Loans held-for-investment	$	1,305,739			$	1,299,103			$	—			$	568,545		$	730,558
Loans receivable-related party	$	8,067			$	8,067			$	—			$	—		$	8,067
CDO notes	$	1,166,209			$	1,020,919			$	—			$	1,020,919		$	—
Junior subordinated notes	$	50,956			$	17,450			$	—			$	—		$	17,450
Repurchase agreement	$	205,265			$	205,265			$	—			$	—		$	205,265
December 31, 2012:
Loans held-for-investment	$	1,793,780			$	1,848,617			$	—			$	1,186,642		$	661,975
Loans receivable-related party	$	8,324			$	8,324			$	—			$	—		$	8,324
CDO notes	$	1,614,883			$	1,405,124			$	—			$	1,405,124		$	—
Junior subordinated notes	$	50,814			$	17,308			$	—			$	—		$	17,308
Repurchase agreement	$	106,303			$	106,303			$	—			$	—		$	106,303

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2013
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	SUBSEQUENT EVENTS
	On October 2013, RSO closed and issued $115.0 million aggregate principal amount of its 6% convertible senior notes due 2018, which included an additional $15.0 million aggregate principal amount of the notes to cover over-allotments. RSO received net proceeds of approximately $111.1 million after payment of underwriting discounts and commissions and other offering expenses.
	RSO's consolidated CLO, Apidos VIII’s non-call period ended on October 17, 2013, at which time all assets were liquidated and all outstanding notes were paid off.
	On October 31, 2013, RSO, through RCC Residential, Inc., its newly-formed taxable REIT subsidiary, acquired a residential mortgage origination company, Primary Capital Advisors LC, an Atlanta based firm, for $8.4 million; consisting of $7.6 million in cash and $800,000 in shares of RSO common stock. Of this $7.6 million cash consideration, $1.8 million was set aside in an escrow account as a contingency for potential purchase price adjustments.
	The Company has evaluated subsequent events through the filing of this Form 10-Q and determined that no events have occurred, including those disclosed above, which would require adjustments to the consolidated financial statements.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2013
Variable Interest Entity [Line Items]	'
Principles of Consolidation	'
	The consolidated financial statements reflect the Company's accounts and the accounts of the Company's majority-owned and/or controlled subsidiaries. The Company also consolidates entities that are VIEs where it has determined that it is the primary beneficiary of such entities. Once it is determined that the Company holds a variable interest in a VIE, management must perform a qualitative analysis to determine (i) if the Company has the power to direct the matters that most significantly impact the VIE's financial performance; and (ii) if the Company has the obligation to absorb the losses of the VIE that could potentially be significant to the VIE or the right to receive the benefits of the VIE that could potentially be significant to the VIE. If the Company possesses both of these characteristics, the Company is deemed to be the primary beneficiary and would be required to consolidate the VIE. The Company will continually assess its involvement with VIEs and reevaluate the requirement to consolidate them. The portions of these entities that the Company does not own are presented as noncontrolling interests as of the dates and for the periods presented in the consolidated financial statements.
	The financial statements reflect the consolidation of RSO. Variable interests in the Company's real estate segment have historically related to subordinated financings in the form of mezzanine loans or unconsolidated real estate interests. See Note 19 for additional disclosures pertaining to VIEs.
	All intercompany transactions and balances have been eliminated in the Company's consolidated financial statements.
Financing Receivables	'
	Receivables from managed entities.  The Company performs a review of the collectability of its receivables from managed entities on a quarterly basis.  If upon review there is an indication of impairment, the Company will analyze the future cash flows of the managed entity.  With respect to the receivables from its commercial finance investment partnerships, this takes into consideration several assumptions by management, primarily concerning estimations of future bad debts and recoveries.  For the receivables from the real estate investment entities for which there are indications of impairment, the Company estimates the cash flows through the sale of the underlying properties, which is based on projected net operating income as a multiple of published capitalization rates, which is then reduced by the underlying mortgage balances and priority distributions due to the investors in the entity.
	Real estate - rent receivables. The Company evaluates the collectability of the rent receivables for the properties it owns and fully reserves for amounts after they are 90 days past due. Amounts are charged off when they are deemed to be uncollectible.
Recent Accounting Standards	'
	Newly-Adopted Accounting Principles
	The Company’s adoption of the following standard during 2013 did not have a material impact on its consolidated financial position, results of operations or cash flows:
	In February 2013, the FASB issued guidance that requires an entity to disclose information showing the effect of items reclassified from accumulated other comprehensive income on the line items of net income. The Company adopted this guidance beginning January 1, 2013 and has presented the required disclosures.
	Accounting Standard Issued But Not Yet Effective
	The FASB issued the following accounting standard which was not yet effective for the Company as of September 30, 2013:
	In July 2013, the FASB issued guidance that addresses the diversity in practice regarding financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance requires an unrecognized tax benefit, or a portion of, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent the deferred tax asset is not available at the reporting date to settle any additional income taxes that would result from the disallowance of a tax position, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with the deferred tax asset. The amendments in this standard are effective for the Company beginning January 1, 2014. The Company does not anticipate that the adoption of this guidance will have a material impact on its consolidated financial statements.
Resource Capital Corp [Member]	'
Variable Interest Entity [Line Items]	'
Investment Securities	'
	Investment Securities
	RSO classifies its investment portfolio as trading or available-for-sale.  RSO, from time to time, may sell any of its investments due to changes in market conditions or in accordance with its investment strategy.
	RSO’s investment securities, trading are reported at fair value.  To determine fair value, RSO's management uses an independent third-party valuation firm utilizing appropriate prepayment, default, and recovery rates.  These valuations are validated utilizing dealer quotes or bids. If there is a material difference between the value indicated by the third-party valuation firm and the dealer quote or bid, RSO will evaluate the difference which could result in an updated valuation from the third party or a revised dealer quote. Any changes in fair value are recorded in RSO’s results of operations as net realized and unrealized gain on investment securities, trading.
	RSO’s investment securities available-for-sale are reported at fair value.  To determine fair value, RSO uses an independent third-party valuation firm utilizing market color as well as appropriate prepayment, default, and recovery rates.  These valuations are validated utilizing dealer quotes or bids. If there is a material difference between the value indicated by the third-party valuation firm and the dealer quote or bid, RSO will evaluate the difference which could result in an updated valuation from the third party or a revised dealer quote. Based on the market color available for each position, RSO categorizes these investments as either Level 2 or Level 3 in the fair value hierarchy.
	On a quarterly basis, RSO evaluates its available-for-sale investments for other-than-temporary impairment.  An available-for-sale investment is impaired when its fair value has declined below its amortized cost basis.  An impairment is considered other-than-temporary when the amortized cost basis of the investment or some portion thereof will not be recovered.  In addition, RSO’s intent to sell as well as the likelihood that RSO will be required to sell the security before the recovery of the amortized cost basis is considered.  Where credit quality is believed to be the cause of the other-than-temporary impairment, that component of the impairment is recognized as an impairment loss in the statement of operations.  Where other market components are believed to be the cause of the impairment, that component of the impairment is recognized as other comprehensive loss.
	Investment security transactions are recorded on the trade date.  Realized gains and losses on investment securities are determined on the specific identification method.
Investment Interest Income Recognition	'
	Investment Interest Income Recognition
	Interest income on RSO’s mortgage-backed and other asset-backed securities is accrued using the effective yield method based on the actual coupon rate and the outstanding principal amount of the underlying mortgages or other assets.  Premiums and discounts are amortized or accreted into interest income over the lives of the securities also using the effective yield method, adjusted for the effects of estimated prepayments.  For an investment purchased at par, the effective yield is the contractual interest rate on the investment.  If the investment is purchased at a discount or at a premium, the effective yield is computed based on the contractual interest rate increased for the accretion of a purchase discount or decreased for the amortization of a purchase premium.  The effective yield method requires RSO to make estimates of future prepayment rates for its investments that can be contractually prepaid before their contractual maturity date so that the purchase discount can be accreted, or the purchase premium can be amortized, over the estimated remaining life of the investment.  The prepayment estimates that RSO uses directly impact the estimated remaining lives of its investments.  Actual prepayment estimates are reviewed as of each quarter end or more frequently if RSO becomes aware of any material information that would lead it to believe that an adjustment is necessary.  If prepayment estimates are incorrect, the amortization or accretion of premiums and discounts may have to be adjusted, which would have an impact on future income.
Allowance for Loan Loss	'
	Allowance for Loan Loss
	RSO maintains an allowance for loan loss.  Loans held for investment are first individually evaluated for impairment so specific reserves can be applied.  Loans for which a specific reserve is not applicable are then evaluated for impairment as a homogeneous pool of loans with substantially similar characteristics so that a general reserve can be established, if needed.  The reviews are performed at least quarterly.
	RSO considers a loan to be impaired if one of two conditions exists.  The first condition is if, based on current information and events, management believes it is probable that RSO will be unable to collect all amounts due according to the contractual terms of the loan agreement.  The second condition is if the loan is deemed to be a troubled-debt restructuring (“TDR”) where a concession has been given to a borrower in financial difficulty.  These TDRs may not have an associated specific loan loss allowance if the principal and interest amount is considered recoverable based on current market conditions, expected collateral performance and / or guarantees made by the borrowers.
	When a loan is impaired under either of these two conditions, the allowance for loan losses is increased by the amount of the excess of the amortized cost basis of the loan over its fair value.  Fair value may be determined based on the present value of estimated cash flows; on market price, if available; or on the fair value of the collateral less estimated disposition costs.  When a loan, or a portion thereof, is considered uncollectible and pursuit of collection is not warranted, RSO will record a charge-off or write-down of the loan against the allowance for loan losses.
	An impaired loan may remain on accrual status during the period in which RSO is pursuing repayment of the loan; however, the loan would be placed on non-accrual status at such time as (i) management believes that scheduled debt service payments will not be met within the coming 12 months; (ii) the loan becomes 90 days delinquent; (iii) management determines the borrower is incapable of, or has ceased efforts toward, curing the cause of the impairment; or (iv) the net realizable value of the loan’s underlying collateral approximates RSO’s carrying value for such loan.  While on non-accrual status, RSO recognizes interest income only when an actual payment is received.
Investments in Real Estate	'
	Investments in Real Estate
	Investments in real estate are carried net of accumulated depreciation.  Costs directly related to the acquisition are expensed as incurred.  Ordinary repairs and maintenance which are not reimbursed by the tenants are expensed as incurred.  Costs related to the improvement of the real property are capitalized and depreciated over their useful lives.
	Acquisitions of real estate assets and any related intangible assets are recorded initially at fair value under FASB ASC Topic 805, “Business Combinations.”  RSO allocates the purchase price of its investments in real estate to land, building, site improvements, the value of in-place leases and the value of above or below market leases. The value allocated to above or below market leases is amortized over the remaining lease term as an adjustment to rental income. RSO amortizes the value allocated to in-place leases over the weighted average remaining lease term to depreciation and amortization expense.  RSO depreciates real property using the straight-line method over the estimated useful lives of the assets as follows:
	Category	Term
	Building	25 – 40 years
	Site improvements	Lesser of the remaining life of building or useful lives
Long-Lived and Intangible Assets	'
	Long-Lived and Intangible Assets
	Long-lived assets and certain identifiable intangibles to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be recoverable.  The review of recoverability is based on an estimate of the future undiscounted cash flows (excluding interest charges) expected to result from the long-lived asset’s use and eventual disposition.  If impairment has occurred, the loss will be measured as the excess of the carrying amount of the asset over the fair value of the asset.
	There were no impairment charges recorded on RSO’s investment in real estate or intangible assets during the three and nine months ended September 30, 2013 and 2012.

RESTATEMENT_Tables

RESTATEMENT (Tables)	9 Months Ended
	Sep. 30, 2013
Accounting Changes and Error Corrections [Abstract]	'
Restatement to Prior Year Financial Statements	'
	The following sets forth the effect of the restatement on the applicable line items in the Company's consolidated balance sheet as of December 31, 2012 (in thousands) (unaudited):
					Restatement Adjustments
		As Previously Reported			RSO			Eliminations			As Restated
	ASSETS
	Cash	$	11,899		$	—		$	—		$	11,899
	Restricted cash	638			—			—			638
	Receivables	468			—			—			468
	Receivables from managed entities and related parties, net	38,685			—			(8,067		)	30,618
	Investments in real estate, net	18,041			—			—			18,041
	Investment securities, at fair value	25,533			—			(14,957		)	10,576
	Investments in unconsolidated loan manager	37,221			—			—			37,221
	Investments in unconsolidated entities	13,156			—			—			13,156
	Assets of consolidated VIE - RSO:
	Cash and cash equivalents (including restricted cash)	—			179,390			—			179,390
	Investments, at fair value	—			256,433			—			256,433
	Loans	—			1,850,998			(1,570		)	1,849,428
	Investments in real estate and unconsolidated entities	—			120,799			(93		)	120,706
	Other assets	—			70,631			(31		)	70,600
	Total assets of consolidated VIE - RSO	—			2,478,251			(1,694		)	2,476,557
	Property and equipment, net	2,590			—			—			2,590
	Deferred tax assets, net	35,373			—			(7,099		)	28,274
	Other assets	6,726			—			—			6,726
	Total assets	$	190,330		$	2,478,251		$	(31,817	)	$	2,636,764
	LIABILITIES AND EQUITY
	Liabilities:
	Accrued expenses and other liabilities	$	21,556		$	—		$	3		$	21,559
	Payables to managed entities and related parties	3,567			—			(31		)	3,536
	Borrowings	22,610			—			(1,570		)	21,040
	Liabilities of consolidated VIE - RSO:
	Borrowings	—			1,785,600			—			1,785,600
	Other liabilities	—			79,306			(8,067		)	71,239
	Total liabilities of consolidated VIE - RSO	—			1,864,906			(8,067		)	1,856,839
	Total liabilities	47,733			1,864,906			(9,665		)	1,902,974
	Commitments and contingencies
	Equity:
	Preferred stock	—			—			—			—
	Common stock	295			—			—			295
	Additional paid-in capital	286,048			—			—			286,048
	Accumulated deficit	(27,137		)	—			(2,349		)	(29,486		)
	Treasury stock, at cost	(103,472		)	—			—			(103,472		)
	Accumulated other comprehensive (loss) income	(13,416		)	—			11,219			(2,197		)
	Total stockholders’ equity	142,318			—			8,870			151,188
	Noncontrolling interests	279			—			—			279
	Noncontrolling interests attributable to RSO	—			613,345			(31,022		)	582,323
	Total equity	142,597			613,345			(22,152		)	733,790
		$	190,330		$	2,478,251		$	(31,817	)	$	2,636,764
	The following sets forth the effect of the restatement on the applicable line items in the Company's consolidated statement of operations for the three months ended September 30, 2012 (in thousands) (unaudited):
					Restatement Adjustments
		As Previously Reported			RSO			Eliminations			As Restated
	REVENUES:
	Real estate	$	11,292		$	—		$	—		$	11,292
	Financial fund management	6,083			—			—			6,083
	Commercial finance	(167		)	—			—			(167		)
	Revenues from consolidated VIE - RSO	—			35,669			—			35,669
	Elimination of consolidated revenues attributed to operating segments	—			—			(4,988		)	(4,988		)
		17,208			35,669			(4,988		)	47,889
	COSTS AND EXPENSES:
	Real estate	7,684			—			—			7,684
	Financial fund management	3,909			—			—			3,909
	Commercial finance	103			—			—			103
	General and administrative	2,530			—			—			2,530
	Impairment charges	2,280			—			—			2,280
	Provision for credit losses	6,336			—			—			6,336
Depreciation and amortization	529			—			—			529
Expenses from consolidated VIE - RSO	—			13,230			—			13,230
Elimination of consolidated expenses attributed to operating segments	—			—			(4,950		)	(4,950		)
	23,371			13,230			(4,950		)	31,651
OPERATING (LOSS) INCOME	(6,163		)	22,439			(38		)	16,238
OTHER INCOME (EXPENSE):
Loss on deconsolidation and sale of subsidiaries	(140		)	—			—			(140		)
Interest expense	(544		)	—			—			(544		)
Other income, net	557			—			(528		)	29
Elimination of consolidated VIE - RSO other income attributable to operating segments	—			—			34			34
	(127		)	—			(494		)	(621		)
(Loss) income from continuing operations before taxes	(6,290		)	22,439			(532		)	15,617
Income tax (benefit) provision	(3,984		)	3,979			—			(5		)
(Loss) income from continuing operations	(2,306		)	18,460			(532		)	15,622
Loss from discontinued operations, net of tax	(8		)	—			—			(8		)
Net (loss) income	(2,314		)	18,460			(532		)	15,614
Net loss attributable to noncontrolling interests - RAI	36			—			—			36
Net income attributable to noncontrolling interests of consolidated VIE - RSO	—			(17,917		)	—			(17,917		)
Net (loss) income attributable to common shareholders	$	(2,278	)	$	543		$	(532	)	$	(2,267	)
Amounts attributable to common shareholders:
(Loss) income from continuing operations	$	(2,270	)	$	543		$	(532	)	$	(2,259	)
Discontinued operations	(8		)	—			—			(8		)
Net (loss) income	$	(2,278	)	$	543		$	(532	)	$	(2,267	)
The following sets forth the effect of both the change in year end and the restatement on the applicable line items in the Company's consolidated statement of operations for the nine months ended September 30, 2012 (in thousands) (unaudited):
	For the Twelve Months Ended			For the Three Months Ended			For the Nine Months Ended
	30-Sep-12			31-Dec-11			30-Sep-12			Restatement Adjustments
	As Previously Reported			As Previously Reported			As calculated			RSO			Eliminations			As Restated
REVENUES:
Real estate	$	40,595		$	8,666		$	31,929		$	—		$	—		$	31,929
Financial fund management	21,957			6,579			15,378			—			—			15,378
Commercial finance	1,884			3,419			(1,535		)	—			—			(1,535		)
Revenues from consolidated VIE - RSO	—			—			—			90,657			—			90,657
Elimination of consolidated	—			—			—			—			(12,733		)	(12,733		)
revenues attributed to
operating segments
	64,436			18,664			45,772			90,657			(12,733		)	123,696
COSTS AND EXPENSES:
Real estate	29,669			7,192			22,477			—			—			22,477
Financial fund management	17,086			5,804			11,282			—			—			11,282
Commercial finance	2,414			1,963			451			—			—			451
Restructuring expenses	365			—			365			—			—			365
General and administrative	10,460			2,896			7,564			—			—			7,564
Gain on sale of leases and loans	(37		)	(37		)	—			—			—			—
Impairment charges	2,280			—			2,280			—			—			2,280
Provision for credit losses	17,246			2,250			14,996			—			—			14,996
Depreciation and amortization	3,653			2,061			1,592			—			—			1,592
Expenses from consolidated VIE - RSO	—			—			—			39,752			—			39,752
Elimination of consolidated VIE	—			—			—			—			(12,589		)	(12,589		)
expenses attributable to
operating segments
	83,136			22,129			61,007			39,752			(12,589		)	88,170
OPERATING (LOSS) INCOME	(18,700		)	(3,465		)	(15,235		)	50,905			(144		)	35,526
OTHER INCOME (EXPENSE):
Gain on deconsolidation and sale of subsidiaries	63,291			8,749			54,542			—			—			54,542
Loss on extinguishment of debt	(2,190		)	(2,190		)	—			—			—			—
Other-than-temporary impairment	(74		)	—			(74		)	—			—			(74		)
on investments
Gain on sale of investment	63			58			5			—			(5		)	—
securities, net
Interest expense	(4,741		)	(2,974		)	(1,767		)	—			—			(1,767		)
Other income, net	2,103			559			1,544			—			(1,538		)	6
Other income of consolidated VIE - RSO	—			—			—			5,464			—			5,464
Elimination of consolidated VIE - RSO other income attributable to operating segments	—			—			—			—			101			101
	58,452			4,202			54,250			5,464			(1,442		)	58,272
	For the twelve months ended			For the three months ended			For the nine months ended
	30-Sep-12			31-Dec-11			30-Sep-12			Restatement Adjustments
	As Previously Reported			As Previously Reported			As calculated			RSO			Eliminations			As Restated
Income (loss) from continuing operations before taxes	39,752			737			39,015			56,369			(1,586		)	93,798
Income tax provision	13,512			154			13,358			6,978			—			20,336
Income from continuing operations	26,240			583			25,657			49,391			(1,586		)	73,462
Loss from discontinued operations, net of tax	(58		)	(20		)	(38		)	—			—			(38		)
Net income (loss)	26,182			563			25,619			49,391			(1,586		)	73,424
Net (income) loss attributable to noncontrolling interests - RAI	(348		)	(378		)	30			—			—			30
Net income attributable to noncontrolling interests of consolidated VIE - RSO	—			—			—			(47,892		)	—			(47,892		)
Net income (loss) attributable to common shareholders	$	25,834		$	185		$	25,649		$	1,499		$	(1,586	)	$	25,562
Amounts attributable to common shareholders:
Income (loss) from continuing operations	$	25,892		$	205		$	25,687		$	1,499		$	(1,586	)	$	25,600
Discontinued operations	(58		)	(20		)	(38		)	—			—			(38		)
Net income (loss)	$	25,834		$	185		$	25,649		$	1,499		$	(1,586	)	$	25,562
Basic earnings per share:
Continuing operations	$	1.31		$	0.01		$	1.3								$	1.29
Discontinued operations	—			—			—									—
Net income	$	1.31		$	0.01		$	1.3								$	1.29
Weighted average shares outstanding	19,740			19,641			19,786									19,786
Diluted earnings per share:
Continuing operations	$	1.25		$	0.01		$	1.23								$	1.23
Discontinued operations	—			—			—									—
Net income	$	1.25		$	0.01		$	1.23								$	1.23
Weighted average shares outstanding	20,634			20,039			20,845									20,845
The following sets forth the effect of both the change in year end and the restatement on the applicable line items in the Company's consolidated statement of comprehensive income for the three months ended September 30, 2012 (in thousands) (unaudited):
	For the Twelve Months Ended September 30, 2012			For the Nine Months Ended June 30, 2012			For the Three Months Ended September 30, 2012			Restatement Adjustments
	As Previously Reported			As Previously Reported			As calculated			RSO			Eliminations			As Restated
Net income (loss)	$	26,182		$	28,496		$	(2,314	)	$	18,460		$	(532	)	$	15,614
Other comprehensive (loss) income:
Unrealized losses on investment securities available-for-sale	1,363			518			845			—			(887		)	(42		)
Less: reclassification for (gains) losses realized, net of tax	45			46			(1		)	—			—			(1		)
	1,408			564			844			—			(887		)	(43		)
Minimum pension liability adjustments, net of tax	(289		)	—			(289		)	—			—			(289		)
Minimum pension liability - reclassification for losses realized, net of tax	214			140			74			—			—			74
	(75		)	140			(215		)	—			—			(215		)
Unrealized gains (losses) on hedging contracts, net of tax	(6		)	(21		)	15			—			—			15
Deconsolidation of LEAF -unrealized loss on hedging contracts	255			255			—			—			—			—
	249			234			15			—			—			15
Subtotal- activity related to RAI:	1,582			938			644			—			(887		)	(243		)
Activity related to consolidated VIE - RSO:
Reclassifications adjustment for losses (gains) included in net income	—			—			—			89			—			89
Unrealized gains on available-for-sale securities, net	—			—			—			6,820			—			6,820
Reclassification adjustments associated with unrealized losses from interest rate hedges included in net income	—			—			—			58			—			58
Unrealized losses on derivatives, net	—			—			—			(2,625		)	—			(2,625		)
Subtotal activity related to consolidated VIE - RSO:	—			—			—			4,342			—			4,342
Subtotal - other comprehensive income (loss)	1,582			938			644			4,342			(887		)	4,099
Comprehensive income (loss)	27,764			29,434			(1,670		)	22,802			(1,419		)	19,713
Comprehensive (income) loss attributable to noncontrolling interests	(397		)	(433		)	36			(22,259		)	—			(22,223		)
Comprehensive income (loss) attributable to	$	27,367		$	29,001		$	(1,634	)	$	543		$	(1,419	)	$	(2,510	)
common shareholders
The following sets forth the effect of both the change in year end and the restatement on the applicable line items in the Company's consolidated statement of comprehensive income for the nine months ended September 30, 2012 (in thousands) (unaudited):
	For the Twelve Months Ended September 30, 2012			For the Three Months Ended December 31, 2011			For the Nine Months Ended September 30, 2012			Restatement Adjustments
	As Previously Reported			As Previously Reported			As calculated			RSO			Eliminations			As Restated
Net income (loss)	$	26,182		$	563		$	25,619		$	49,391		$	(1,586	)	$	73,424
Other comprehensive income (loss):
Unrealized gains (losses) on	1,363			985			378			—			(452		)	(74		)
investment securities
available-for-sale
Less: reclassification for losses realized, net of tax	45			—			45			—			—			45
	1,408			985			423			—			(452		)	(29		)
Minimum pension liability	(289		)	—			(289		)	—			—			(289		)
adjustments, net of tax
Minimum pension liability -	214			47			167			—			1			168
reclassification for losses realized,
net of tax
	(75		)	47			(122		)	—			1			(121		)
Unrealized (losses) gains on hedging contracts, net of tax	(6		)	(129		)	123			—			—			123
Deconsolidation of LEAF - unrealized loss on hedging contracts	255			255			—			—			—			—
	249			126			123			—			—			123
Subtotal - activity related to RAI	1,582			1,158			424			—			(451		)	(27		)
Activity related to consolidated VIE - RSO:
Reclassifications adjustment for	—			—			—			1,023			—			1,023
losses included in net income
Unrealized gains on available-for-	—			—			—			15,216			—			15,216
sale securities, net
Reclassification adjustments	—			—			—			170			—			170
associated with unrealized losses
from interest rate hedges included
in net income
Unrealized losses on derivatives, net	—			—			—			(2,985		)	—			(2,985		)
Subtotal activity related to consolidated VIE - RSO	—			—			—			13,424			—			13,424
Subtotal - other comprehensive income (loss)	1,582			1,158			424			13,424			(451		)	13,397
Comprehensive income (loss)	27,764			1,721			26,043			62,815			(2,037		)	86,821
Comprehensive (income) loss attributable to noncontrolling interests	(397		)	(427		)	30			(61,316		)	—			(61,286		)
Comprehensive income (loss)	$	27,367		$	1,294		$	26,073		$	1,499		$	(2,037	)	$	25,535
attributable to common shareholders
The following table presents the consolidating statement of cash flows as originally presented in the September 30, 2012 10-K for the twelve months ended September 30, 2012, less the activity for the three months ended December 31, 2011, in order to derive the activity for the nine months ended September 30, 2012 as shown in the column labeled "RAI" in the previous table presented (in thousands) (unaudited):
	For the Twelve Months Ended September 30, 2012			For the Three Months Ended December 31, 2011						For the Nine Months Ended September 30, 2012
	As Previously Reported			As Previously Reported			Adjustments			As Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	26,182		$	563		$	—		$	25,619
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	4,875			3,087			—			1,788
Other-than-temporary impairment on investments	74			—			—			74
Impairment charges	2,280			—			—			2,280
Provision for credit losses	17,246			2,250			—			14,996
Unrealized gain on trading securities	(1,108		)	—			—			(1,108		)
Equity in earnings of unconsolidated entities	(3,439		)	(557		)	—			(2,882		)
Distributions from unconsolidated entities	3,463			1,163			—			2,300
Gain on sale of leases and loans	(37		)	(37		)	—			—
Gain on sale of loans and investment securities, net	(972		)	(58		)	—			(914		)
Gain on the sale of assets	(84		)	—			—			(84		)
Gain on sale and deconsolidation of subsidiaries	(63,291		)	(8,749		)	—			(54,542		)
Loss on extinguishment of debt	2,190			2,190			—			—
Deferred income tax benefit	13,393			154			—			13,239
Equity-based compensation issued	1,286			498			—			788
Equity-based compensation received	(153		)	—			—			(153		)
Trading securities purchases and sales, net	(1,048		)	—			—			(1,048		)
Loss from discontinued operations	58			—			20			38
Changes in operating assets and liabilities	(2,911		)	(1,412		)	(20		)	(1,479		)
Net cash used in operating activities	(1,996		)	(908		)	—			(1,088		)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(222		)	(106		)	—			(116		)
Payments received on real estate loans and real estate	1,726			1,550			—			176
Investments in unconsolidated real estate entities	(1,608		)	(127		)	—			(1,481		)
Purchase of commercial finance assets	(18,483		)	(18,483		)	—			—
Principal payments received on leases and loans	9,043			9,031			—			12
Cash divested on deconsolidation of LEAF	(2,284		)	(2,284		)	—			—
Net proceeds from sale of Apidos and cash divested on deconsolidation	17,860			—			—			17,860
Purchase of loans and investments	(1,874		)	(600		)	—			(1,274		)
Proceeds from sale of loan and investments	262			207			—			55
Net cash provided by (used in) in investing activities	4,420			(10,812		)	—			15,232
	For the Twelve Months Ended September 30, 2012			For the Three Months Ended December 31, 2011						For the Nine Months Ended September 30, 2012
	As Previously Reported			As Previously Reported			Adjustments			As Restated
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in borrowings	128,845			128,845			—			—
Principal payments on borrowings	(129,416		)	(123,823		)	—			(5,593		)
Dividends paid	(2,310		)	(569		)	—			(1,741		)
Proceeds from issuance of common stock	2,131			—			—			2,131
Repurchase of common stock	(2,324		)	(939		)	—			(1,385		)
Increase in restricted cash	(664		)	(633		)	(31		)	—
Preferred stock dividends paid by LEAF to RSO	(188		)	(188		)	—			—
Other	(2,275		)	(2,250		)	31			(56		)
Net cash (used in) provided by financing activities	(6,201		)	443			—			(6,644		)
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Operating activities	(1,285		)	(375		)	—			(910		)
Net cash used in discontinued operations	(1,285		)	(375		)	—			(910		)
(Decrease) increase in cash	(5,062		)	(11,652		)	—			6,590
Cash, beginning of period	24,455			24,455			—			12,803
Cash, end of period	$	19,393		$	12,803		$	—		$	19,393
The following table shows the details of the consolidating cash flows of the Company, RSO and eliminations that are included in the Consolidated Statement of Cash Flows for the nine months ended September 30, 2012 (in thousands) (unaudited):
	RAI			RSO			Eliminations			As Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	25,619		$	49,391		$	(1,586	)	$	73,424
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	1,788			—			—			1,788
Other-than-temporary impairment on investments	74			—			—			74
Impairment charges	2,280			—			—			2,280
Provision for credit losses	14,996			—			—			14,996
Unrealized gain on trading securities	(1,108		)	—			—			(1,108		)
Equity in earnings of unconsolidated entities	(2,882		)	—			—			(2,882		)
Distributions from unconsolidated entities	2,300			—			—			2,300
Gain on sale of loans and investment securities, net	(914		)	—			—			(914		)
Gain on the sale of assets	(84		)	—			—			(84		)
Gain on sale of subsidiary	(54,542		)	—			—			(54,542		)
Deferred income tax benefit	13,239			—			—			13,239
Equity-based compensation issued	788			814			(814		)	788
Equity-based compensation received	(153		)				153			—
Trading securities purchases and sales, net	(1,048		)	—			—			(1,048		)
Loss from discontinued operations	38			—			—			38
Changes in operating assets and liabilities	(1,479		)	—			—			(1,479		)
Change in cash attributable to operations of consolidated VIE - RSO	—			(66,749		)	661			(66,088		)
Net cash used in operating activities	(1,088		)	(16,544		)	(1,586		)	(19,218		)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(116		)	—			—			(116		)
Payments received on real estate loans and real estate	176			—			—			176
Investments in unconsolidated real estate entities	(1,481		)	—			—			(1,481		)
Principal payments received on leases and loans	12			—			—			12
Purchase of loans and securities by consolidated VIE - RSO	—			(549,826		)	—			(549,826		)
Principal payments and proceeds from sales received by consolidated VIE - RSO	—			540,117			—			540,117
Proceeds from sale of Apidos, net of transaction costs and cash divested on deconsolidation	17,860			—			—			17,860
Purchase of loans and investments	(1,274		)	—			—			(1,274		)
Proceeds from sale of loans and investment securities	55			—			—			55
Increase in restricted cash - consolidated VIE RSO	—			85,413			—			85,413
Other investing activity of consolidated VIE - RSO	—			3,592			43			3,635
Net cash provided by investing activities	15,232			79,296			43			94,571
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on borrowings	(5,593		)	—			—			(5,593		)
Net repayments of debt by consolidated VIE - RSO	—			(128,019		)	—			(128,019		)
Dividends paid	(1,741		)	—			—			(1,741		)
Dividends paid on common stock by consolidated VIE - RSO	—			(54,231		)	1,543			(52,688		)
Net proceeds from issuance of common stock by consolidated VIE - RSO	—			122,337			—			122,337
Proceeds from issuance of common stock	2,131			—			—			2,131
Repurchase of common stock	(1,385		)	—			—			(1,385		)
Other	(56		)	—			—			(56		)
Other financing activities of consolidated VIE-RSO	—			(2,839		)	—			(2,839		)
Net cash (used in) provided by financing activities	(6,644		)	(62,752		)	1,543			(67,853		)
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Operating activities	(910		)	—			—			(910		)
Net cash used in discontinued operations	(910		)	—			—			(910		)
Increase in cash	6,590			—			—			6,590
Cash, beginning of year	12,803			—			—			12,803
Cash, end of period	$	19,393		$	—		$	—		$	19,393

CONSOLIDATING_FINANCIAL_INFORM1

CONSOLIDATING FINANCIAL INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Condensed Financial Statements	'
	CONSOLIDATING FINANCIAL INFORMATION
	The following table presents the consolidating balance sheet as of September 30, 2013 (unaudited) (in thousands):
		RAI			RSO			Eliminations			Consolidated
	ASSETS
	Cash	$	19,439		$	—		$	—		$	19,439
	Restricted cash	558			—			—			558
	Receivables	3,444			—			(96		)	3,348
	Receivables from managed entities and related parties, net	34,457			—			(4,169		)	30,288
	Investments in real estate, net	17,128			—			—			17,128
	Investment securities, at fair value	27,156			—			(17,398		)	9,758
	Investments in unconsolidated loan manager	37,345			—			—			37,345
	Investments in unconsolidated entities	13,899			—			—			13,899
	Assets of consolidated VIE - RSO:				—
	Cash and cash equivalents (including restricted cash)	—			203,658			—			203,658
	Investments, at fair value	—			232,783			—			232,783
	Loans	—			1,646,157			(1,570		)	1,644,587
	Investments in real estate and unconsolidated entities	—			128,099			—			128,099
	Other assets	—			62,367			(26		)	62,341
	Total assets of consolidated VIE - RSO	—			2,273,064			(1,596		)	2,271,468
	Property and equipment, net	4,955			—			—			4,955
	Deferred tax assets, net	37,353			—			(7,602		)	29,751
	Other assets	5,574			—			—			5,574
	Total assets	$	201,308		$	2,273,064		$	(30,861	)	$	2,443,511
	LIABILITIES AND EQUITY
	Liabilities:
	Accrued expenses and other liabilities	$	27,613		$	—		$	—		$	27,613
	Payables to managed entities and related parties	3,063			—			(26		)	3,037
	Borrowings	21,950			—			(1,570		)	20,380
	Liabilities of consolidated VIE - RSO:
	Borrowings	—			1,422,430			—			1,422,430
	Other liabilities	—			67,220			(4,265		)	62,955
	Total liabilities of consolidated VIE - RSO	—			1,489,650			(4,265		)	1,485,385
	Total liabilities	52,626			1,489,650			(5,861		)	1,536,415
	Commitments and contingencies
	Equity:
	Preferred stock	—			—			—			—
	Common stock	299			—			—			299
	Additional paid-in capital	288,238			—			—			288,238
	Accumulated deficit	(23,009		)	—			(3,411		)	(26,420		)
	Treasury stock, at cost	(104,869		)	—			—			(104,869		)
	Accumulated other comprehensive (loss) income	(12,195		)	—			9,885			(2,310		)
	Total stockholders’ equity	148,464			—			6,474			154,938
	Noncontrolling interests	218			—			—			218
	Noncontrolling interests attributable to RSO	—			783,414			(31,474		)	751,940
	Total equity	148,682			783,414			(25,000		)	907,096
		$	201,308		$	2,273,064		$	(30,861	)	$	2,443,511
	The following table presents the consolidating statement of operations for the three months ended September 30, 2013 (in thousands) (unaudited):
		RAI			RSO			Eliminations			Consolidated
	REVENUES:
	Real estate	$	15,950		$	—		$	—		$	15,950
	Financial fund management	8,502			—			—			8,502
	Commercial finance	(30		)	—			—			(30		)
	Revenues from consolidated VIE - RSO	—			23,786			—			23,786
	Elimination of consolidated revenues attributed to operating segments	—			—			(5,183		)	(5,183		)
		24,422			23,786			(5,183		)	43,025
	COSTS AND EXPENSES:
	Real estate	11,178			—			—			11,178
	Financial fund management	3,547			—			—			3,547
	Commercial finance	75			—			—			75
	General and administrative	2,505			—			—			2,505
	Provision for credit losses	1,808			—			—			1,808
	Depreciation and amortization	413			—			—			413
	Expenses from consolidated VIE - RSO	—			16,276			(722		)	15,554
Elimination of consolidated expenses attributed to operating segments	—			—			(4,861		)	(4,861		)
	19,526			16,276			(5,583		)	30,219
OPERATING INCOME	4,896			7,510			400			12,806
OTHER INCOME (EXPENSE):
Interest expense	(530		)	—			—			(530		)
Other income, net	684			—			(556		)	128
Other income from consolidated VIE - RSO	—			16,607			—			16,607
Elimination of consolidated VIE other income attributable to operating segments	—			—			162			162
	154			16,607			(394		)	16,367
Income from continuing operations before taxes	5,050			24,117			6			29,173
Income tax provision - RSO	—			—			722			722
Income tax provision - RAI	1,261			—			—			1,261
Net income (loss)	3,789			24,117			(716		)	27,190
Net income attributable to noncontrolling interests - RAI	(40		)	—			—			(40		)
Net income attributable to noncontrolling interests of consolidated VIE- RSO	—			(1,996		)	(21,712		)	(23,708		)
Net income (loss) attributable to common shareholders	$	3,749		$	22,121		$	(22,428	)	$	3,442
The following table presents the consolidating statement of operations for the nine months ended September 30, 2013 (in thousands) (unaudited):
	RAI			RSO			Eliminations			Consolidated
REVENUES:
Real estate	$	39,443		$	—		$	—		$	39,443
Financial fund management	15,234			—			—			15,234
Commercial finance	(243		)	—			—			(243		)
Revenues from consolidated VIE - RSO	—			76,011			—			76,011
Elimination of consolidated revenues attributed to operating segments	—			—			(10,608		)	(10,608		)
	54,434			76,011			(10,608		)	119,837
COSTS AND EXPENSES:
Real estate	29,514			—			—			29,514
Financial fund management	7,769			—			—			7,769
Commercial finance	(99		)	—			—			(99		)
General and administrative	6,807			—			—			6,807
Provision for credit losses	3,793			—			—			3,793
Depreciation and amortization	1,318			—			—			1,318
Expenses from consolidated VIE - RSO	—			47,331			(4,221		)	43,110
Elimination of consolidated expenses attributed to operating segments	—			—			(10,178		)	(10,178		)
	49,102			47,331			(14,399		)	82,034
OPERATING INCOME	5,332			28,680			3,791			37,803
OTHER INCOME (EXPENSE):
Other-than-temporary impairment on	(214		)							(214		)
investments
Interest expense	(1,525		)	—			—			(1,525		)
Other income, net	2,069			—			(1,669		)	400
Other income from consolidated VIE - RSO	—			16,607			—			16,607
Elimination of consolidated VIE other income attributable to operating segments	—			—			224			224
	330			16,607			(1,445		)	15,492
Income from continuing operations before taxes	5,662			45,287			2,346			53,295
Income tax provision - RSO	—			—			4,221			4,221
Income tax benefit - RAI	(396		)	—			—			(396		)
Income from continuing operations	6,058			45,287			(1,875		)	49,470
Loss from discontinued operations, net of tax	(2		)	—			—			(2		)
Net income	6,056			45,287			(1,875		)	49,468
Net income attributable to noncontrolling interests - RAI	(23		)	—			—			(23		)
Net income attributable to noncontrolling interests of consolidated VIE - RSO	—			(5,107		)	(39,287		)	(44,394		)
Net income (loss) attributable to common shareholders	$	6,033		$	40,180		$	(41,162	)	$	5,051
The following table presents the consolidating statement of cash flows for the nine months ended September 30, 2013 (in thousands) (unaudited):
	RAI			RSO			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	6,056		$	45,287		$	(1,875	)	$	49,468
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization	1,462			—			—			1,462
Other-than-temporary impairment charges	214			—			—			214
Provision for credit losses	3,793			—			—			3,793
Unrealized gain on trading securities	(1,073		)	—			299			(774		)
Equity in earnings of unconsolidated entities	(2,528		)	—			—			(2,528		)
Distributions from unconsolidated entities	3,099			—			—			3,099
Gain on sale of assets	(1,632		)	—			—			(1,632		)
Gain on sale of loans and investment securities, net	(4,551		)	—			—			(4,551		)
Deferred income tax benefit	(254		)	—			—			(254		)
Equity-based compensation received	(654		)	—			654			—
Equity-based compensation issued	942			484			(484		)	942
Trading securities purchases and sales, net	6,445			—			—			6,445
Loss from discontinued operations	2			—			—			2
Changes in operating assets and liabilities	1,465			—			—			1,465
Change in cash attributable to consolidated VIE - RSO	—			(38,124		)	(291		)	(38,415		)
Net cash provided by (used in) operating activities	12,786			7,647			(1,697		)	18,736
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(1,035		)	—			—			(1,035		)
Payments received on real estate loans and real estate	2,049			—			—			2,049
Investments in unconsolidated real estate entities	(2,058		)	—			—			(2,058		)
Principal payments received on leases and loans	8			—			—			8
Purchase of loans and securities by consolidated VIE - RSO	—			(675,650		)	—			(675,650		)
Principal payments and proceeds from sales received by consolidated VIE - RSO	—			842,252			—			842,252
Purchase of loans and investments	(2,024		)	—			—			(2,024		)
Proceeds from sale of loans and investment securities	—			—			—			—
Increase in restricted cash - consolidated VIE RSO	—			30,079			—			30,079
Other - consolidated VIE - RSO	—			13,318			28			13,346
Net cash provided by (used in) in investing activities	(3,060		)	209,999			28			206,967
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in borrowings	2,000			—			—			2,000
Principal payments on borrowings	(2,354		)	—			—			(2,354		)
Proceeds from issuance of common stock	1,253			—			—			1,253
Net borrowings (repayments) of debt by consolidated VIE - RSO	—			(320,834		)	—			(320,834		)
Dividends paid	(1,194		)	—			—			(1,194		)
Dividends paid on common stock by consolidated VIE - RSO	—			(68,010		)	1,669			(66,341		)
Net proceeds from issuance of common stock by consolidated VIE - RSO	—			184,279			—			184,279
Repurchase of common stock	(1,601		)	—			—			(1,601		)
Other	81			—			—			81
Other - consolidated VIE - RSO	—			(13,081		)	—			(13,081		)
Net cash (used in) provided by financing activities	(1,815		)	(217,646		)	1,669			(217,792		)
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Operating activities	(371		)	—			—			(371		)
Net cash used in discontinued operations	(371		)	—			—			(371		)
Increase in cash	7,540			—			—			7,540
Cash, beginning of year	11,899			—			—			11,899
Cash, end of period	$	19,439		$	—		$	—		$	19,439

SUPPLEMENTAL_CASH_FLOW_INFORMA1

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2013
Supplemental Cash Flow Elements [Abstract]	'
Supplemental Cash Flow	'
	Supplemental disclosure of cash flow information (in thousands):
		Nine Months Ended
		September 30,
		2013			2012
	Cash (paid) received:				(Restated)
	Interest	$	(1,270	)	$	(1,548	)
	Income tax payments	(933		)	(1,306		)
	Refund of income taxes	100			109
	Dividends declared per common share	$	0.1		$	0.09
	Non-cash activities:
	Repurchases of common stock from employees in exchange for the payment of income taxes and option exercises	$	68		$	1,709
	Issuance of treasury stock for the Company's investment savings plan	273			413
	Common stock issued to a former director in exchange for vested director units	—			135
	Leasehold improvements paid by the landlord	$	1,496		$	—
	Effects from the deconsolidation of Apidos Capital Management, LLC ("Apidos") (1):
	Receivables from managed entities	—			715
	Investment in unconsolidated entities	—			(1,824		)
	Other assets	—			20
	Accrued expenses and other liabilities	—			(938		)
	-1	Reflects the deconsolidation of Apidos during the nine months ended September 30, 2012. As a result of the deconsolidation of this entity, the amounts noted above were removed from the Company’s consolidated balance sheets.  The sum of the assets removed and cash equated to the sum of the liabilities and equity that were similarly eliminated and, as such, there was no change in the Company’s total net assets.

FINANCING_RECEIVABLES_Tables

FINANCING RECEIVABLES (Tables)	9 Months Ended
	Sep. 30, 2013
Receivables [Abstract]	'
Past due financing receivables	'
	The following table is the aging of the Company’s past due financing receivables (presented gross of allowance for credit losses) as of September 30, 2013 (in thousands):
		30-89 Days		Greater than		Greater than		Total		Current		Total
		Past Due		90 Days		181 Days		Past Due
	Receivables from managed entities
	and related parties: (1)
	Commercial finance investment entities	$	—	$	—	$	43,139	$	43,139	$	61	$	43,200
	Real estate investment entities	447		842		17,201		18,490		3,360		21,850
	Financial fund management entities	17		7		9		33		793		826
	Other	30		59		—		89		51		140
		494		908		60,349		61,751		4,265		66,016
	Rent receivables - real estate	5		14		18		37		63		100
	Total financing receivables	$	499	$	922	$	60,367	$	61,788	$	4,328	$	66,116
	-1	Receivables are presented gross of an allowance for credit losses of $35.7 million related to the Company’s commercial finance investment entities.  The remaining receivables from managed entities and related parties have no related allowance for credit losses.
	The following table is the aging of the Company’s past due financing receivables (presented gross of allowance for credit losses) as of December 31, 2012 (in thousands):
	(Restated)	30-89 Days		Greater than		Greater than		Total		Current		Total
		Past Due		90 Days		181 Days		Past Due
	Receivables from managed entities
	and related parties: (1)
	Commercial finance investment entities	$	—	$	—	$	40,112	$	40,112	$	118	$	40,230
	Real estate investment entities	779		744		17,062		18,585		1,992		20,577
	Financial fund management entities	6		—		47		53		2,140		2,193
	Other	41		—		—		41		137		178
		826		744		57,221		58,791		4,387		63,178
	Rent receivables - real estate	4		10		58		72		40		112
	Total financing receivables	$	830	$	754	$	57,279	$	58,863	$	4,427	$	63,290
	-1	Receivables are presented gross of an allowance for credit losses of $29.6 million, $2.5 million and $457,000 related to the Company’s commercial finance, real estate and financial fund management investment entities, respectively.  The remaining receivables from managed entities and related parties had no related allowance for credit losses.
Allowance for loan losses and recorded investments	'
	1)	Receivables are presented gross of an allowance for credit losses of $29.6 million, $2.5 million and $457,000 related to the Company’s commercial finance
Gross financing receivables related to the balance in the allowance for credit losses	'
	The Company’s financing receivables (presented gross of allowance for credit losses) as of September 30, 2013 relate to the balance in the allowance for credit losses, as follows (in thousands):
		Receivables from		Rent		Total
		Managed Entities		Receivables
	Ending balance, individually evaluated for impairment	$	66,016	$	—	$	66,016
	Ending balance, collectively evaluated for impairment	—		100		100
	Balance, end of period	$	66,016	$	100	$	66,116
	The Company’s financing receivables (presented gross of allowance for credit losses) as of December 31, 2012 relate to the balance in the allowance for credit losses, as follows (in thousands):
		Receivables from		Rent		Total
		Managed Entities		Receivables
		(Restated)
	Ending balance, individually evaluated for impairment	$	63,178	$	—	$	63,178
	Ending balance, collectively evaluated for impairment	—		112		112
	Balance, end of year	$	63,178	$	112	$	63,290
Impaired loans	'
	The following table discloses information about the Company’s impaired financing receivables (in thousands):
		Net		Unpaid Balance		Specific Allowance		Average Investment in Impaired Assets
		Balance
	As of September 30, 2013
	Financing receivables with a specific valuation allowance:
	Receivables from managed entities – commercial finance	$	3,170	$	38,898	$	35,728	$	38,853
	Rent receivables – real estate	—		32		32		46
	As of December 31, 2012
	Financing receivables with a specific valuation allowance:
	Receivables from managed entities – commercial finance	$	8,633	$	38,219	$	29,586	$	38,110
	Receivables from managed entities – real estate	2,291		4,808		2,517		4,630
	Receivable from managed entities - financial fund management	848		1,305		457		1,305
	Rent receivables – real estate	—		68		68		40

INVESTMENTS_IN_REAL_ESTATE_Tab

INVESTMENTS IN REAL ESTATE (Tables)	9 Months Ended
	Sep. 30, 2013
Schedule of Investments [Abstract]	'
Schedule of company's investment in real estate	'
	The Company’s investments in real estate, net, consist of the following (in thousands):
		September 30,		December 31,
		2013		2012
	Properties owned, net of accumulated depreciation of $8,373 and $7,972:
	Hotel property (Savannah, Georgia)	$	10,668	$	11,107
	Office building (Philadelphia, Pennsylvania)	795		1,058
		11,463		12,165
	Partnerships and other investments	5,665		5,876
	Total investments in real estate, net	$	17,128	$	18,041
Schedule of contractual future minimum rental income	'
	The contractual future minimum rental income on non-cancelable operating leases included in properties owned for each of the five succeeding annual periods ending September 30, and thereafter, is as follows (in thousands):
	2014	$	966
	2015	848
	2016	594
	2017	518
	2018	492
	Thereafter	662
		$	4,080

INVESTMENT_SECURITIES_Tables

INVESTMENT SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2013
Investments, Debt and Equity Securities [Abstract]	'
Components of the Company's Investment Securities	'
	Components of investment securities are as follows (in thousands):
		September 30,		December 31, 2012
		2013
				(Restated)
	Available-for-sale securities	$	6,086	$	5,211
	Trading securities	3,672		5,365
	Total investment securities, at fair value	$	9,758	$	10,576
Pre-tax Unrealized Gains (Losses) Relating to the Company's Investments in Equity and Collateralized Debt Obligation Securities	'
	Available-for-sale securities.  The following table discloses the pre-tax unrealized gains (losses) relating to the Company’s investments in available-for-sale securities (in thousands):
		Cost or		Unrealized			Unrealized				Fair Value
		Amortized Cost		Gains			Losses
	September 30, 2013:
	CLO securities	$	4,970	$	1,000		$	(313	)		$	5,657
	Equity securities	208		227			(6		)		429
	Total	$	5,178	$	1,227		$	(319	)		$	6,086
	December 31, 2012:	(Restated)
	CLO securities	$	3,712	$	1,290		$	—			$	5,002
	Equity securities	109		100			—				209
	Total	$	3,821	$	1,390		$	—			$	5,211
Unrealized Losses Along with the Related Fair Value, Aggregated by the Length of Time the Investments were in a Continuous Unrealized Loss Position	'
	Unrealized losses, along with the related fair values and aggregated by the length of time the investments were in a continuous unrealized loss position, are as follows (in thousands, except number of securities):
		Less than 12 Months								More than 12 Months
		Fair Value		Unrealized			Number of Securities			Fair Value			Unrealized		Number of Securities
				Loss									Loss
	September 30, 2013:
	CLO securities	$	2,289	$	(313	)	3			$	—		$	—	—
	Equity securities	94		(6		)	1			—			—		—
	Total	$	2,383	$	(319	)	4			$	—		$	—	—

INVESTMENTS_IN_UNCONSOLIDATED_1

INVESTMENTS IN UNCONSOLIDATED ENTITIES AND LOAN MANAGER (Tables)	9 Months Ended
	Sep. 30, 2013
Equity Method Investments and Joint Ventures [Abstract]	'
Details of Company's Investments in Investment Vehicles, Including the Range of Interests it Owns	'
	The following table details the Company’s investments in these vehicles, including the range of ownership interests owned (in thousands, except percentages):
		Range of Combined		September 30,				December 31, 2012
		Ownership Interests		2013
	Real estate investment entities	1% – 12%		$	8,348			$	8,397
	Financial fund management partnerships	3% − 50%		4,653				3,847
	Trapeza entities	33% − 50%		898				912
	Investments in unconsolidated entities			$	13,899			$	13,156
Summarized Financial Information of Equity Method Investment	'
	Summarized operating data for CVC Credit Partners is presented below (in thousands):
		Three Months Ended				Nine Months Ended
		September 30, 2013				September 30, 2013
	Management fee revenues	$	10,413			$	34,502
	Costs and expenses	(8,618		)		(32,388		)
	Net income	$	1,795			$	2,114
	Portion of net income attributable to the Company	$	593			$	698
						For the Period
		Three Months Ended				from April 17 to
		September 30, 2012				September 30, 2012
	Management fee revenues	$	6,781			$	11,886
	Costs and expenses	(5,641		)		(10,163		)
	Net income	$	1,140			$	1,723
	Portion of net income attributable to the Company	$	376			$	568

ACCRUED_EXPENSES_AND_OTHER_LIA1

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2013
Payables and Accruals [Abstract]	'
Summary of Components of Accrued Expenses and Other Liabilities	'
	The following is a summary of the components of accrued expenses and other liabilities (in thousands):
		September 30,		December 31,
		2013		2012
				(Restated)
	Accounts payable and other accrued liabilities	$	14,526	$	8,773
	SERP liability (see Note 14)	6,273		6,806
	Accrued wages and benefits	4,284		4,428
	Due to broker	2,530		—
	Trapeza clawback (see Note 17)	—		1,181
	Real estate loan commitment	—		371
	Total accrued expenses and other liabilities	$	27,613	$	21,559

BORROWINGS_Tables

BORROWINGS (Tables)	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Credit Facilities and Other Debt of the Company and Related Borrowings Outstanding	'
	The credit facilities and other debt of the Company and related borrowings outstanding are as follows (in thousands):
		As of September 30, 2013				December 31, 2012
		Maximum Amount		Borrowings Outstanding		Borrowings Outstanding
		of Facility
	Credit facilities:					(Restated)
	TD Bank – secured revolving credit facility (1)	$	6,997	$	—	$	—
	Republic Bank – secured revolving credit facility	3,500		—		—
				—		—
	Other Debt:
	Senior Notes			10,000		10,000
	Mortgage debt			10,335		10,473
	Other debt			45		567
	Total borrowings			$	20,380	$	21,040
	-1	The amount of the facility as shown has been reduced for the outstanding letter of credit of $503,000 at September 30, 2013 and December 31, 2012.
Annual Principal Payments on the Company's Aggregate Borrowings Over the Next Five Years and Thereafter	'
	Annual principal payments on the Company’s aggregate borrowings for the next five succeeding annual periods ending September 30, and thereafter, are as follows (in thousands):
	2014	$	240
	2015	10,208
	2016	220
	2017	237
	2018	252
	Thereafter	9,223
		$	20,380

ACCUMULATED_OTHER_COMPREHENSIV1

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 30, 2013
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]	'
Changes in Accumulated Other Comprehensive Loss by Category	'
	The following are changes in accumulated other comprehensive loss by category (in thousands):
		Investment Securities			Cash Flow Hedges			SERP Pension			Total
		Available-for-Sale						Liability
		(Restated)									(Restated)
	Balance, December 31, 2012, net of tax of $544, $(10) and $(2,326)	$	847		$	(14	)	$	(3,030	)	$	(2,197	)
	Other comprehensive (loss) income before reclassifications	(433		)	10			—			(423		)
	Amounts reclassified from accumulated other comprehensive income (1)	131			—			179			310
	Net current-period other comprehensive (loss) income	(302		)	10			179			(113		)
	Balance, September 30, 2013, net of tax of $364, $(2), and $(2,221)	$	545		$	(4	)	$	(2,851	)	$	(2,310	)
	-1	Amounts reclassified from accumulated other comprehensive income are included in the following line items on the consolidated statements of operations:
	Investment securities available-for-sale - included in Other-than-temporary impairment on investments
	Cash flow hedges - included in Revenues - commercial finance
	SERP pension liability - included in General and administrative expenses

EARNINGS_LOSS_PER_SHARE_Tables

EARNINGS (LOSS) PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Reconciliation of Components Used in Computation of Basic and Diluted EPS	'
	The following table presents a reconciliation of the shares used in the computation of Basic EPS and Diluted EPS (in thousands):
		Three Months Ended		Nine Months Ended
		September 30,		September 30,
		2013	2012	2013	2012
	Shares
	Basic shares outstanding	20,342	20,102	20,255	19,786
	Dilutive effect of outstanding stock options, warrants and director units	1,530	—	1,676	1,059
	Dilutive shares outstanding	21,872	20,102	21,931	20,845

BENEFIT_PLANS_Tables

BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2013
Compensation and Retirement Disclosure [Abstract]	'
Components of Net Periodic Benefit Costs for the SERP	'
	The components of net periodic benefit costs for the SERP were as follows (in thousands):
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2013			2012			2013			2012
	Interest cost	$	57		$	85		$	169		$	245
	Less: expected return on plan assets	(25		)	(17		)	(75		)	(52		)
	Plus: Amortization of unrecognized loss	95			130			285			295
	Net benefit cost	$	127		$	198		$	379		$	488

CERTAIN_RELATIONSHIPS_AND_RELA1

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2013
Related Party Transactions [Abstract]	'
Details of Receivable and Payables and Fees, Dividends and Reimbursed Expenses	'
	The following table details these receivables and payables (in thousands):
		September 30,			December 31,
		2013			2012
	Receivables from managed entities and related parties, net:				(Restated)
	Real estate investment entities	$	21,850		$	18,060
	Commercial finance investment entities (1)	7,472			10,644
	Financial fund management investment entities	826			1,736
	Other	140			178
	Receivables from managed entities and related parties	$	30,288		$	30,618
	Payables due to managed entities and related parties, net:
	Real estate investment entities (2)	$	2,857		$	3,300
	Other	180			236
	Payables to managed entities and related parties	$	3,037		$	3,536
	-1	Includes $35.7 million and $29.6 million of reserves, respectively, for credit losses related to management fees owed from three commercial finance investment entities that, based on changes in the estimated cash distributions, are not expected to be collectible.
	-2	Includes $2.9 million and 2.5 million, respectively, in funds provided by the real estate investment entities, which are held by the Company to self insure the properties held by those entities.
Schedule of Fees, Dividends and Reimbursed Expenses from Several Related/Managed Entities	'
	2)	Includes $2.9 million and 2.5 million, respectively, in funds provided by the real estate investment entities, which are held by the Company to self insure the properties held by those entities.
	The Company receives fees, dividends and reimbursed expenses from several related or managed entities.  In addition, the Company reimburses related entities for certain operating expenses.  The following table details those activities (in thousands):
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2013			2012			2013			2012
	Fees from unconsolidated investment entities:
	Real estate (1)	$	6,726		$	4,439		$	16,273		$	13,533
	Financial fund management	801			715			2,335			2,333
	Commercial finance (2)	—			—			—			—
	CVC Credit Partners – reimbursement of costs and expenses	295			514			979			1,866
	RRE Opportunity REIT:
	Reimbursement of costs and expenses	204			89			605			769
	Dividends paid	28			—			85			14
	LEAF:
	Payment for sub-servicing the commercial finance investment	(197		)	(476		)	(743		)	(1,767		)
	partnerships
	Payment for rent and related expenses	(144		)	(189		)	(543		)	(566		)
	Reimbursement of costs and expenses	53			62			168			228
	1845 Walnut Associates Ltd:
	Payment for rent and related expenses	(286		)	(168		)	(476		)	(531		)
	Property management fees	32			—			149			—
	Brandywine Construction & Management, Inc. – payment for	(54		)	(49		)	(167		)	(157		)
	property management fees for the hotel property
	Atlas Energy, L.P. – reimbursement of costs and expenses	49			156			243			465
	Ledgewood P.C. – payment for legal services	(76		)	(56		)	(180		)	(409		)
	Graphic Images, LLC – payment for printing services	(20		)	(80		)	(59		)	(208		)
	The Bancorp, Inc. – reimbursement of costs and expenses	29			29			85			90
	9 Henmar, LLC – payment of broker/consulting fees	(4		)	(4		)	(24		)	(28		)
	-1	Includes discounts recorded by the Company of $56,000 and $169,000 recorded in the three and nine months ended September 30, 2013, respectively, and $31,000 and $140,000 in the three and nine months ended September 30, 2012, in connection with management fees from its real estate investment entities that are expected to be received in future periods.
	-2	During the three and nine months ended September 30, 2013, the Company waived $410,000 and $1.5 million, respectively, and $883,000 and $3.2 million during the three and nine months ended September 30, 2012, respectively, of fund management fees from its commercial finance investment entities.

FAIR_VALUE_Tables

FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Company's Asset Recorded at Fair Value on Recurring Basis	'
	As of September 30, 2013, the fair values of the Company’s assets recorded at fair value on a recurring basis were as follows (in thousands):
		Level 1			Level 2			Level 3		Total
	Assets:
	Investment securities	$	429		$	—		$	9,329	$	9,758
	As of December 31, 2012, the fair values of the Company’s assets recorded at fair value on a recurring basis were as follows (in thousands):
		Level 1			Level 2			Level 3		Total
	Assets:	(Restated)								(Restated)
	Investment securities	$	209		$	—		$	10,367	$	10,576
Additional Information about Assets Measured at Fair Value on Recurring Basis for which the Company Has Utilized Level 3 Inputs to Determine Fair Value	'
	The following table presents additional information about assets which were measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value during the nine months ended September 30, 2013 (in thousands):
		Investment Securities
	Balance, beginning of year	$	10,367
	Purchases	9,832
	Income accreted	662
	Payments and distributions received	(10,383		)
	Impairment recognized in earnings	(214		)
	Sales	(5,655		)
	Gain on sales of trading securities	4,551
	Unrealized holding gain on trading securities	773
	Change in unrealized losses included in accumulated other comprehensive loss	(604		)
	Balance, end of period	$	9,329
	The following table presents additional information about assets which were measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value during calendar 2012 (in thousands):
		Investment Securities
		(Restated)
	Balance, beginning of year	$	2,981
	Purchases	11,578
	Income accreted	853
	Payments and distributions received	(3,201		)
	Sales	(4,159		)
	Impairment recognized in earnings	(74		)
	Gains on sales of trading securities	1,216
	Unrealized holding gain on trading securities	1,272
	Change in unrealized losses included in accumulated other comprehensive loss	(99		)
	Balance, end of period	$	10,367
Quantitative Inputs and Assumptions in Determining the Fair Value of Items Categorized in Level 3	'
	The following table presents the Company's quantitative inputs and assumptions used in determining the fair value of items categorized in Level 3 (in thousands, except percentages):
		Fair value at September 30, 2013			Valuation Technique		Unobservable Inputs	Weighted
								Average
								Assumptions
	CLO securities	$	5,657		Discounted cash flow		Constant default rate	0% -2%
							Loss severity rate	25%
							Constant prepayment rate- year one	30%
							Constant prepayment rate- year two	25%
							Constant prepayment rate - periods thereafter	25%
							Reinvestment price on collateral	99.75% - 100%
							Discount rates	13.5% - 20%
	Trading securities	$	3,672		Discounted cash flow		Discount rates	5% - 15%
Changes in Carrying Value of Assets and Liabilities Measured at Fair Value on Non-recurring Basis	'
	The Company recognized the following changes in carrying value of the assets and liabilities measured at fair value on a non-recurring basis, as follows (in thousands):
		Level 1			Level 2			Level 3		Total
	Nine Months Ended September 30, 2013:
	Asset:
	Receivables from managed entities – commercial finance, real estate and financial fund management	$	—		$	—		$	4,883	$	4,883
	Liability:
	Apidos contractual commitment	$	—		$	—		$	994	$	994
	Year Ended December 31, 2012:
	Assets:
	Receivables from managed entities – commercial finance and real estate	$	—		$	—		$	14,506	$	14,506
	Investment in real estate	—			727			—		727
	Investment in real estate - office building	—			—			906		906
	Investment in CVC Credit Partners	—			—			28,600		28,600
	Investment in Apidos-CVC preferred interest	—			—			6,792		6,792
	Total	$	—		$	727		$	50,804	$	51,531
	Liability:
	Apidos contractual commitment	$	—		$	—		$	589	$	589
Fair Value of Financial Instruments	'
	The fair value of financial instruments required to be disclosed at fair value, excluding instruments valued on a recurring basis, is as follows (in thousands):
		September 30, 2013						December 31, 2012
		Carrying Amount			Estimated Fair Value			Carrying Amount		Estimated Fair Value
	Assets:							(Restated)		(Restated)
	Receivables from managed entities	$	30,288		$	30,288		30,618		30,618
		$	30,288		$	30,288		$	30,618	$	30,618
	Borrowings:
	Real estate debt	$	10,335		$	10,869		$	10,473	$	11,398
	Senior Notes	10,000			12,223			10,000		11,728
	Other debt	45			45			567		567
		$	20,380		$	23,137		$	21,040	$	23,693

OPERATING_SEGMENTS_Tables

OPERATING SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
Summarized Operating Segment Data	'
	Summarized operating segment data are as follows (in thousands):
		Real			Financial Fund Management			Commercial Finance			All Other (1)			Subtotal			RSO			Elims			Total
		Estate
	Three Months Ended September 30, 2013:
	Revenues from external customers	$	15,973		$	7,065		$	—		$	—		$	23,038		$	23,786		$	(5,183	)	$	41,641
	Equity in (losses) earnings of unconsolidated entities	(23		)	1,437			(30		)	—			1,384			—			—			1,384
	Total revenues	15,950			8,502			(30		)	—			24,422			23,786			(5,183		)	43,025
	Segment operating expenses	(11,178		)	(3,547		)	(75		)	—			(14,800		)	(15,554		)	4,861			(25,493		)
	General and administrative expenses	(674		)	(282		)	—			(1,549		)	(2,505		)	—			—			(2,505		)
	Provision for credit losses	(29		)	—			(1,779		)	—			(1,808		)	—			—			(1,808		)
	Depreciation and amortization	(258		)	(13		)	—			(142		)	(413		)	—			—			(413		)
	Interest expense	(209		)	(7		)	1			(315		)	(530		)	—			—			(530		)
	Other income (expense), net	249			557			—			(122		)	684			16,607			(394		)	16,897
	Pretax income attributable to noncontrolling interests (2)	(12		)	—			—			—			(12		)	(23,708		)	—			(23,720		)
	Income (loss) from continuing operations excluding noncontrolling interests before taxes	$	3,839		$	5,210		$	(1,883	)	$	(2,128	)	$	5,038		$	1,131		$	(716	)	$	5,453
		Real			Financial Fund Management			Commercial Finance			All Other (1)			Subtotal			RSO			Elims			Total
		Estate
	Nine Months Ended
	September 30, 2013:
	Revenues from external customers	$	39,777		$	12,129		$	—		$	—		$	51,906		$	76,011		$	(10,608	)	$	117,309
	Equity in (losses) earnings of unconsolidated entities	(334		)	3,105			(243		)	—			2,528			—			—			2,528
	Total revenues	39,443			15,234			(243		)	—			54,434			76,011			(10,608		)	119,837
	Segment operating expenses	(29,514		)	(7,769		)	99			—			(37,184		)	(43,110		)	10,178			(70,116		)
	General and administrative expenses	(2,893		)	(604		)	—			(3,310		)	(6,807		)	—			—			(6,807		)
	Provision for credit losses	2,523			(199		)	(6,117		)	—			(3,793		)	—			—			(3,793		)
	Depreciation and amortization	(805		)	(49		)	—			(464		)	(1,318		)	—			—			(1,318		)
	Other-than-temporary impairment on investments	—			(214		)	—			—			(214		)	—			—			(214		)
	Interest expense	(613		)	(7		)	—			(905		)	(1,525		)	—			—			(1,525		)
	Other income (expense), net	719			1,704			7			(361		)	2,069			16,607			(1,445		)	17,231
	Pretax income attributable to noncontrolling interests (2)	(23		)	—			—			—			(23		)	(44,394		)	—			(44,417		)
	Income (loss) from continuing operations excluding noncontrolling interests before taxes	$	8,837		$	8,096		$	(6,254	)	$	(5,040	)	$	5,639		$	5,114		$	(1,875	)	$	8,878
		Real			Financial Fund Management			Commercial Finance			All Other (1)			Subtotal			RSO			Elims			Total
		Estate
	Three Months Ended September 30, 2012:																						(Restated)
	Revenues from external customers	$	9,135		$	5,136		$	(1	)	$	—		$	14,270		$	35,669		$	(4,988	)	$	44,951
	Equity in earnings (losses) of unconsolidated entities	2,157			947			(166		)	—			2,938			—			—			2,938
	Total revenues	11,292			6,083			(167		)	—			17,208			35,669			(4,988		)	47,889
	Segment operating expenses	(7,684		)	(3,909		)	(103		)	—			(11,696		)	(13,230		)	4,950			(19,976		)
	General and administrative expenses	(86		)	(602		)	—			(1,842		)	(2,530		)	—			—			(2,530		)
	Provision for credit losses	(83		)	—			(6,253		)	—			(6,336		)	—			—			(6,336		)
	Impairment charges	(2,280		)	—			—			—			(2,280		)	—			—			(2,280		)
	Depreciation and amortization	(332		)	(23		)	—			(174		)	(529		)	—			—			(529		)
	Reduction of gain on sale of subsidiary	—			(140		)	—			—			(140		)	—			—			(140		)
	Interest expense	(215		)	—			(15		)	(314		)	(544		)	—			—			(544		)
	Other income (expense), net	128			534			—			(105		)	557			—			(494		)	63
	Pretax loss (income) attributable to noncontrolling interests (2)	36			—			—			—			36			(17,917		)	—			(17,881		)
	Income (loss) from continuing operations excluding noncontrolling interests before taxes	$	776		$	1,943		$	(6,538	)	$	(2,435	)	$	(6,254	)	$	4,522		$	(532	)	$	(2,264	)
		Real Estate			Financial Fund Management			Commercial Finance			All Other (1)			Subtotal			RSO			Elims			Total
	Nine Months Ended September 30, 2012:																						(Restated)
	Revenues from external customers	$	30,102		$	12,787		$	1		$	—		$	42,890		$	90,657		$	(12,733	)	$	120,814
	Equity in earnings (losses) of unconsolidated entities	1,827			2,591			(1,536		)	—			2,882			—			—			2,882
	Total revenues	31,929			15,378			(1,535		)	—			45,772			90,657			(12,733		)	123,696
	Segment operating expenses	(22,477		)	(11,282		)	(451		)	—			(34,210		)	(39,752		)	12,589			(61,373		)
	Restructuring expenses	—			—			—			(365		)	(365		)	—			—			(365		)
	General and administrative expenses	(278		)	(1,814		)	—			(5,472		)	(7,564		)	—			—			(7,564		)
	Provision for credit losses	(238		)	—			(14,758		)	—			(14,996		)	—			—			(14,996		)
	Impairment charges	(2,280		)	—			—			—			(2,280		)	—			—			(2,280		)
	Depreciation and amortization	(980		)	(89		)	—			(523		)	(1,592		)	—			—			(1,592		)
	Gain on deconsolidation and sale of subsidiaries	—			54,542			—			—			54,542			—			—			54,542
	Other-than-temporary impairment on investments	—			(74		)	—			—			(74		)	—			—			(74		)
	Interest expense	(641		)	—			(58		)	(1,068		)	(1,767		)	—			—			(1,767		)
	Other income (expense), net	405			1,527			—			(383		)	1,549			5,464			(1,442		)	5,571
	Pretax loss (income) attributable to noncontrolling interests (2)	30			—			—			—			30			(47,892		)	—			(47,862		)
Income (loss) from continuing operations excluding noncontrolling interests before taxes	$	5,470		$	58,188		$	(16,802	)	$	(7,811	)	$	39,045		$	8,477		$	(1,586	)	$	45,936
	Real Estate			Financial Fund Management			Commercial Finance			All			Subtotal			RSO			Total
										Other (1)
Segment assets	(Restated)			(Restated)						(Restated)			(Restated)						(Restated)
September 30, 2013	$	177,314		$	60,105		$	8,747		$	(74,123	)	$	172,043		$	2,271,468		$	2,443,511
September 30, 2012	169,649			60,805			15,497			(78,138		)	167,813			2,320,645			2,488,458
-1	Includes general corporate expenses and assets not allocable to any particular segment.
-2	In viewing its segment operations, management includes the pretax (income) loss attributable to noncontrolling interests.  However, these interests are excluded from income (loss) from operations as computed in accordance with U.S. GAAP and, accordingly, should be deducted to compute income (loss) from operations as reflected in the Company’s consolidated statements of operations.

VARIABLE_INTEREST_ENTITIES_Tab

VARIABLE INTEREST ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2013
Debt Instrument [Line Items]	'
Schedule of Unconsolidated VIE	'
	The following table presents the carrying amounts of the assets in the Company's consolidated balance sheets that relate to the Company's variable interests in identified non-consolidated VIEs and the Company's maximum exposure to loss associated with these VIEs in which it holds variable interests at September 30, 2013 (in thousands):
		Receivables from				Investments				Maximum Exposure
		Managed Entities and								to Loss in
		Related Parties,								Non-consolidated VIEs
		Net (1)
	RRE Opportunity REIT	$	208			$	2,549			$	2,757
	Trapeza entities	—				898				898
	Ischus entities	180				—				180
		$	388			$	3,447			$	3,835
	-1	Exclusive of expense reimbursements due to the Company.
Condensed Financial Statements	'
	CONSOLIDATING FINANCIAL INFORMATION
	The following table presents the consolidating balance sheet as of September 30, 2013 (unaudited) (in thousands):
		RAI				RSO				Eliminations				Consolidated
	ASSETS
	Cash	$	19,439			$	—			$	—			$	19,439
	Restricted cash	558				—				—				558
	Receivables	3,444				—				(96		)		3,348
	Receivables from managed entities and related parties, net	34,457				—				(4,169		)		30,288
	Investments in real estate, net	17,128				—				—				17,128
	Investment securities, at fair value	27,156				—				(17,398		)		9,758
	Investments in unconsolidated loan manager	37,345				—				—				37,345
	Investments in unconsolidated entities	13,899				—				—				13,899
	Assets of consolidated VIE - RSO:					—
	Cash and cash equivalents (including restricted cash)	—				203,658				—				203,658
	Investments, at fair value	—				232,783				—				232,783
	Loans	—				1,646,157				(1,570		)		1,644,587
	Investments in real estate and unconsolidated entities	—				128,099				—				128,099
	Other assets	—				62,367				(26		)		62,341
	Total assets of consolidated VIE - RSO	—				2,273,064				(1,596		)		2,271,468
	Property and equipment, net	4,955				—				—				4,955
	Deferred tax assets, net	37,353				—				(7,602		)		29,751
	Other assets	5,574				—				—				5,574
	Total assets	$	201,308			$	2,273,064			$	(30,861	)		$	2,443,511
	LIABILITIES AND EQUITY
	Liabilities:
	Accrued expenses and other liabilities	$	27,613			$	—			$	—			$	27,613
	Payables to managed entities and related parties	3,063				—				(26		)		3,037
	Borrowings	21,950				—				(1,570		)		20,380
	Liabilities of consolidated VIE - RSO:
	Borrowings	—				1,422,430				—				1,422,430
	Other liabilities	—				67,220				(4,265		)		62,955
	Total liabilities of consolidated VIE - RSO	—				1,489,650				(4,265		)		1,485,385
	Total liabilities	52,626				1,489,650				(5,861		)		1,536,415
	Commitments and contingencies
	Equity:
	Preferred stock	—				—				—				—
	Common stock	299				—				—				299
	Additional paid-in capital	288,238				—				—				288,238
	Accumulated deficit	(23,009		)		—				(3,411		)		(26,420		)
	Treasury stock, at cost	(104,869		)		—				—				(104,869		)
	Accumulated other comprehensive (loss) income	(12,195		)		—				9,885				(2,310		)
	Total stockholders’ equity	148,464				—				6,474				154,938
	Noncontrolling interests	218				—				—				218
	Noncontrolling interests attributable to RSO	—				783,414				(31,474		)		751,940
	Total equity	148,682				783,414				(25,000		)		907,096
		$	201,308			$	2,273,064			$	(30,861	)		$	2,443,511
	The following table presents the consolidating statement of operations for the three months ended September 30, 2013 (in thousands) (unaudited):
		RAI				RSO				Eliminations				Consolidated
	REVENUES:
	Real estate	$	15,950			$	—			$	—			$	15,950
	Financial fund management	8,502				—				—				8,502
	Commercial finance	(30		)		—				—				(30		)
	Revenues from consolidated VIE - RSO	—				23,786				—				23,786
	Elimination of consolidated revenues attributed to operating segments	—				—				(5,183		)		(5,183		)
		24,422				23,786				(5,183		)		43,025
	COSTS AND EXPENSES:
	Real estate	11,178				—				—				11,178
	Financial fund management	3,547				—				—				3,547
	Commercial finance	75				—				—				75
	General and administrative	2,505				—				—				2,505
	Provision for credit losses	1,808				—				—				1,808
	Depreciation and amortization	413				—				—				413
	Expenses from consolidated VIE - RSO	—				16,276				(722		)		15,554
Elimination of consolidated expenses attributed to operating segments	—				—				(4,861		)		(4,861		)
	19,526				16,276				(5,583		)		30,219
OPERATING INCOME	4,896				7,510				400				12,806
OTHER INCOME (EXPENSE):
Interest expense	(530		)		—				—				(530		)
Other income, net	684				—				(556		)		128
Other income from consolidated VIE - RSO	—				16,607				—				16,607
Elimination of consolidated VIE other income attributable to operating segments	—				—				162				162
	154				16,607				(394		)		16,367
Income from continuing operations before taxes	5,050				24,117				6				29,173
Income tax provision - RSO	—				—				722				722
Income tax provision - RAI	1,261				—				—				1,261
Net income (loss)	3,789				24,117				(716		)		27,190
Net income attributable to noncontrolling interests - RAI	(40		)		—				—				(40		)
Net income attributable to noncontrolling interests of consolidated VIE- RSO	—				(1,996		)		(21,712		)		(23,708		)
Net income (loss) attributable to common shareholders	$	3,749			$	22,121			$	(22,428	)		$	3,442
The following table presents the consolidating statement of operations for the nine months ended September 30, 2013 (in thousands) (unaudited):
	RAI				RSO				Eliminations				Consolidated
REVENUES:
Real estate	$	39,443			$	—			$	—			$	39,443
Financial fund management	15,234				—				—				15,234
Commercial finance	(243		)		—				—				(243		)
Revenues from consolidated VIE - RSO	—				76,011				—				76,011
Elimination of consolidated revenues attributed to operating segments	—				—				(10,608		)		(10,608		)
	54,434				76,011				(10,608		)		119,837
COSTS AND EXPENSES:
Real estate	29,514				—				—				29,514
Financial fund management	7,769				—				—				7,769
Commercial finance	(99		)		—				—				(99		)
General and administrative	6,807				—				—				6,807
Provision for credit losses	3,793				—				—				3,793
Depreciation and amortization	1,318				—				—				1,318
Expenses from consolidated VIE - RSO	—				47,331				(4,221		)		43,110
Elimination of consolidated expenses attributed to operating segments	—				—				(10,178		)		(10,178		)
	49,102				47,331				(14,399		)		82,034
OPERATING INCOME	5,332				28,680				3,791				37,803
OTHER INCOME (EXPENSE):
Other-than-temporary impairment on	(214		)										(214		)
investments
Interest expense	(1,525		)		—				—				(1,525		)
Other income, net	2,069				—				(1,669		)		400
Other income from consolidated VIE - RSO	—				16,607				—				16,607
Elimination of consolidated VIE other income attributable to operating segments	—				—				224				224
	330				16,607				(1,445		)		15,492
Income from continuing operations before taxes	5,662				45,287				2,346				53,295
Income tax provision - RSO	—				—				4,221				4,221
Income tax benefit - RAI	(396		)		—				—				(396		)
Income from continuing operations	6,058				45,287				(1,875		)		49,470
Loss from discontinued operations, net of tax	(2		)		—				—				(2		)
Net income	6,056				45,287				(1,875		)		49,468
Net income attributable to noncontrolling interests - RAI	(23		)		—				—				(23		)
Net income attributable to noncontrolling interests of consolidated VIE - RSO	—				(5,107		)		(39,287		)		(44,394		)
Net income (loss) attributable to common shareholders	$	6,033			$	40,180			$	(41,162	)		$	5,051
The following table presents the consolidating statement of cash flows for the nine months ended September 30, 2013 (in thousands) (unaudited):
	RAI				RSO				Eliminations				Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	6,056			$	45,287			$	(1,875	)		$	49,468
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization	1,462				—				—				1,462
Other-than-temporary impairment charges	214				—				—				214
Provision for credit losses	3,793				—				—				3,793
Unrealized gain on trading securities	(1,073		)		—				299				(774		)
Equity in earnings of unconsolidated entities	(2,528		)		—				—				(2,528		)
Distributions from unconsolidated entities	3,099				—				—				3,099
Gain on sale of assets	(1,632		)		—				—				(1,632		)
Gain on sale of loans and investment securities, net	(4,551		)		—				—				(4,551		)
Deferred income tax benefit	(254		)		—				—				(254		)
Equity-based compensation received	(654		)		—				654				—
Equity-based compensation issued	942				484				(484		)		942
Trading securities purchases and sales, net	6,445				—				—				6,445
Loss from discontinued operations	2				—				—				2
Changes in operating assets and liabilities	1,465				—				—				1,465
Change in cash attributable to consolidated VIE - RSO	—				(38,124		)		(291		)		(38,415		)
Net cash provided by (used in) operating activities	12,786				7,647				(1,697		)		18,736
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(1,035		)		—				—				(1,035		)
Payments received on real estate loans and real estate	2,049				—				—				2,049
Investments in unconsolidated real estate entities	(2,058		)		—				—				(2,058		)
Principal payments received on leases and loans	8				—				—				8
Purchase of loans and securities by consolidated VIE - RSO	—				(675,650		)		—				(675,650		)
Principal payments and proceeds from sales received by consolidated VIE - RSO	—				842,252				—				842,252
Purchase of loans and investments	(2,024		)		—				—				(2,024		)
Proceeds from sale of loans and investment securities	—				—				—				—
Increase in restricted cash - consolidated VIE RSO	—				30,079				—				30,079
Other - consolidated VIE - RSO	—				13,318				28				13,346
Net cash provided by (used in) in investing activities	(3,060		)		209,999				28				206,967
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in borrowings	2,000				—				—				2,000
Principal payments on borrowings	(2,354		)		—				—				(2,354		)
Proceeds from issuance of common stock	1,253				—				—				1,253
Net borrowings (repayments) of debt by consolidated VIE - RSO	—				(320,834		)		—				(320,834		)
Dividends paid	(1,194		)		—				—				(1,194		)
Dividends paid on common stock by consolidated VIE - RSO	—				(68,010		)		1,669				(66,341		)
Net proceeds from issuance of common stock by consolidated VIE - RSO	—				184,279				—				184,279
Repurchase of common stock	(1,601		)		—				—				(1,601		)
Other	81				—				—				81
Other - consolidated VIE - RSO	—				(13,081		)		—				(13,081		)
Net cash (used in) provided by financing activities	(1,815		)		(217,646		)		1,669				(217,792		)
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Operating activities	(371		)		—				—				(371		)
Net cash used in discontinued operations	(371		)		—				—				(371		)
Increase in cash	7,540				—				—				7,540
Cash, beginning of year	11,899				—				—				11,899
Cash, end of period	$	19,439			$	—			$	—			$	19,439
Gross unrealized loss and fair value of securities	'
	Unrealized losses, along with the related fair values and aggregated by the length of time the investments were in a continuous unrealized loss position, are as follows (in thousands, except number of securities):
		Less than 12 Months											More than 12 Months
		Fair Value				Unrealized				Number of Securities			Fair Value				Unrealized				Number of Securities
						Loss											Loss
	September 30, 2013:
	CLO securities	$	2,289			$	(313	)		3			$	—			$	—			—
	Equity securities	94				(6		)		1			—				—				—
	Total	$	2,383			$	(319	)		4			$	—			$	—			—
Allowance for loan losses and recorded investments	'
	1)	Receivables are presented gross of an allowance for credit losses of $29.6 million, $2.5 million and $457,000 related to the Company’s commercial finance
Loan portfolios aging analysis	'
	The following table is the aging of the Company’s past due financing receivables (presented gross of allowance for credit losses) as of September 30, 2013 (in thousands):
		30-89 Days				Greater than				Greater than				Total				Current				Total
		Past Due				90 Days				181 Days				Past Due
	Receivables from managed entities
	and related parties: (1)
	Commercial finance investment entities	$	—			$	—			$	43,139			$	43,139			$	61			$	43,200
	Real estate investment entities	447				842				17,201				18,490				3,360				21,850
	Financial fund management entities	17				7				9				33				793				826
	Other	30				59				—				89				51				140
		494				908				60,349				61,751				4,265				66,016
	Rent receivables - real estate	5				14				18				37				63				100
	Total financing receivables	$	499			$	922			$	60,367			$	61,788			$	4,328			$	66,116
	-1	Receivables are presented gross of an allowance for credit losses of $35.7 million related to the Company’s commercial finance investment entities.  The remaining receivables from managed entities and related parties have no related allowance for credit losses.
	The following table is the aging of the Company’s past due financing receivables (presented gross of allowance for credit losses) as of December 31, 2012 (in thousands):
	(Restated)	30-89 Days				Greater than				Greater than				Total				Current				Total
		Past Due				90 Days				181 Days				Past Due
	Receivables from managed entities
	and related parties: (1)
	Commercial finance investment entities	$	—			$	—			$	40,112			$	40,112			$	118			$	40,230
	Real estate investment entities	779				744				17,062				18,585				1,992				20,577
	Financial fund management entities	6				—				47				53				2,140				2,193
	Other	41				—				—				41				137				178
		826				744				57,221				58,791				4,387				63,178
	Rent receivables - real estate	4				10				58				72				40				112
	Total financing receivables	$	830			$	754			$	57,279			$	58,863			$	4,427			$	63,290
	-1	Receivables are presented gross of an allowance for credit losses of $29.6 million, $2.5 million and $457,000 related to the Company’s commercial finance, real estate and financial fund management investment entities, respectively.  The remaining receivables from managed entities and related parties had no related allowance for credit losses.
Impaired loans	'
	The following table discloses information about the Company’s impaired financing receivables (in thousands):
		Net				Unpaid Balance				Specific Allowance				Average Investment in Impaired Assets
		Balance
	As of September 30, 2013
	Financing receivables with a specific valuation allowance:
	Receivables from managed entities – commercial finance	$	3,170			$	38,898			$	35,728			$	38,853
	Rent receivables – real estate	—				32				32				46
	As of December 31, 2012
	Financing receivables with a specific valuation allowance:
	Receivables from managed entities – commercial finance	$	8,633			$	38,219			$	29,586			$	38,110
	Receivables from managed entities – real estate	2,291				4,808				2,517				4,630
	Receivable from managed entities - financial fund management	848				1,305				457				1,305
	Rent receivables – real estate	—				68				68				40
Schedule of Debt	'
	The credit facilities and other debt of the Company and related borrowings outstanding are as follows (in thousands):
		As of September 30, 2013								December 31, 2012
		Maximum Amount				Borrowings Outstanding				Borrowings Outstanding
		of Facility
	Credit facilities:									(Restated)
	TD Bank – secured revolving credit facility (1)	$	6,997			$	—			$	—
	Republic Bank – secured revolving credit facility	3,500				—				—
						—				—
	Other Debt:
	Senior Notes					10,000				10,000
	Mortgage debt					10,335				10,473
	Other debt					45				567
	Total borrowings					$	20,380			$	21,040
	-1	The amount of the facility as shown has been reduced for the outstanding letter of credit of $503,000 at September 30, 2013 and December 31, 2012.
Fair value assets and liabilities measured on recurring basis	'
	As of September 30, 2013, the fair values of the Company’s assets recorded at fair value on a recurring basis were as follows (in thousands):
		Level 1				Level 2				Level 3				Total
	Assets:
	Investment securities	$	429			$	—			$	9,329			$	9,758
	As of December 31, 2012, the fair values of the Company’s assets recorded at fair value on a recurring basis were as follows (in thousands):
		Level 1				Level 2				Level 3				Total
	Assets:	(Restated)												(Restated)
	Investment securities	$	209			$	—			$	10,367			$	10,576
Fair value assets unobservable input reconciliation	'
	The following table presents additional information about assets which were measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value during the nine months ended September 30, 2013 (in thousands):
		Investment Securities
	Balance, beginning of year	$	10,367
	Purchases	9,832
	Income accreted	662
	Payments and distributions received	(10,383		)
	Impairment recognized in earnings	(214		)
	Sales	(5,655		)
	Gain on sales of trading securities	4,551
	Unrealized holding gain on trading securities	773
	Change in unrealized losses included in accumulated other comprehensive loss	(604		)
	Balance, end of period	$	9,329
	The following table presents additional information about assets which were measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value during calendar 2012 (in thousands):
		Investment Securities
		(Restated)
	Balance, beginning of year	$	2,981
	Purchases	11,578
	Income accreted	853
	Payments and distributions received	(3,201		)
	Sales	(4,159		)
	Impairment recognized in earnings	(74		)
	Gains on sales of trading securities	1,216
	Unrealized holding gain on trading securities	1,272
	Change in unrealized losses included in accumulated other comprehensive loss	(99		)
	Balance, end of period	$	10,367
Fair value assets and liabilities measured on nonrecurring basis	'
	The Company recognized the following changes in carrying value of the assets and liabilities measured at fair value on a non-recurring basis, as follows (in thousands):
		Level 1				Level 2				Level 3				Total
	Nine Months Ended September 30, 2013:
	Asset:
	Receivables from managed entities – commercial finance, real estate and financial fund management	$	—			$	—			$	4,883			$	4,883
	Liability:
	Apidos contractual commitment	$	—			$	—			$	994			$	994
	Year Ended December 31, 2012:
	Assets:
	Receivables from managed entities – commercial finance and real estate	$	—			$	—			$	14,506			$	14,506
	Investment in real estate	—				727				—				727
	Investment in real estate - office building	—				—				906				906
	Investment in CVC Credit Partners	—				—				28,600				28,600
	Investment in Apidos-CVC preferred interest	—				—				6,792				6,792
	Total	$	—			$	727			$	50,804			$	51,531
	Liability:
	Apidos contractual commitment	$	—			$	—			$	589			$	589
Fair value financial instruments not reported at fair value	'
	The fair value of financial instruments required to be disclosed at fair value, excluding instruments valued on a recurring basis, is as follows (in thousands):
		September 30, 2013								December 31, 2012
		Carrying Amount				Estimated Fair Value				Carrying Amount				Estimated Fair Value
	Assets:									(Restated)				(Restated)
	Receivables from managed entities	$	30,288			$	30,288			30,618				30,618
		$	30,288			$	30,288			$	30,618			$	30,618
	Borrowings:
	Real estate debt	$	10,335			$	10,869			$	10,473			$	11,398
	Senior Notes	10,000				12,223				10,000				11,728
	Other debt	45				45				567				567
		$	20,380			$	23,137			$	21,040			$	23,693
Resource Capital Corp [Member]	'
Debt Instrument [Line Items]	'
Condensed Financial Statements	'
	The following reflects the detail of the assets and liabilities and operations of RSO, which the Company consolidated and included in its consolidated balance sheets and statements of operations.
	RSO Balance Sheet detail (in thousands):
		September 30, 2013				December 31, 2012
		(Unaudited)				(Unaudited)
	ASSETS (1)
	Cash and cash equivalents	$	144,463			$	85,278
	Restricted cash	59,195				94,112
	Subtotal - Cash and cash equivalents	203,658				179,390
	Investment securities, trading	12,099				24,843
	Investment securities available-for-sale, pledged as collateral, at fair value	173,994				195,200
	Investment securities available-for-sale, at fair value	46,690				36,390
	Subtotal - Investments, at fair value	232,783				256,433
	Loans held for sale	332,351				48,894
	Loans, pledged as collateral and net of allowances of $12.9 million and $17.7 million	1,305,739				1,793,780
	Loans receivable–related party	8,067				8,324
	Subtotal - Loans before eliminations	1,646,157				1,850,998
	Eliminations	(1,570		)		(1,570		)
	Subtotal - Loans	1,644,587				1,849,428
	Investment in real estate	55,144				75,386
	Investments in unconsolidated entities	72,955				45,413
	Subtotal - Investments in real estate and unconsolidated entities before eliminations	128,099				120,799
	Eliminations	—				(93		)
	Subtotal - Investments in real estate and unconsolidated entities	128,099				120,706
	Linked transactions, net at fair value	29,978				6,835
	Interest receivable	8,078				7,763
	Deferred tax asset	3,268				2,766
	Principal paydown receivable	7				25,570
	Intangible assets	11,728				13,192
	Prepaid expenses	4,961				10,396
	Other assets	4,347				4,109
	Subtotal - Other assets before eliminations	62,367				$	70,631
	Eliminations	(26		)		(31		)
	Subtotal - Other assets	62,341				$	70,600
	Total assets - before eliminations	$	2,273,064			$	2,478,251
	Total assets - after eliminations	$	2,271,468			$	2,476,557
	LIABILITIES (2)
	Borrowings	$	1,422,430			$	1,785,600
	Distribution payable	26,796				21,655
	Accrued interest expense	2,708				2,918
	Derivatives, at fair value	12,208				14,687
	Accrued tax liability	4,989				13,641
	Deferred tax liability	7,690				8,376
	Accounts payable and other liabilities	12,829				18,029
	Subtotal - other liabilities before eliminations	67,220				79,306
	Eliminations	(4,265		)		(8,067		)
	Subtotal - Other liabilities	62,955				71,239
	Total liabilities - before eliminations	$	1,489,650			$	1,864,906
	Total liabilities - after eliminations	$	1,485,385			$	1,856,839
	The following table presents the details of noncontrolling interests attributable to RSO (in thousands):
		30-Sep-13				31-Dec-12
		(Unaudited)				(Unaudited)
	Total stockholders' equity per RSO balance sheet	$	783,414			$	613,345
	Eliminations	(31,474		)		(31,022		)
	Noncontrolling interests attributable to RSO	$	751,940			$	582,323
	RSO Balance Sheet detail (in thousands):
		September 30,				December 31,
		2013				2012
		(Unaudited)				(Unaudited)
	(1) Assets of consolidated VIEs of RSO included in the total assets above:
	Restricted cash	$	53,752			$	90,108
	Investments securities available-for-sale, pledged as collateral, at fair value	110,993				135,566
	Loans held for sale	332,351				14,894
	Loans, pledged as collateral and net of allowances of $7.3 million	981,513				1,678,719
and $15.2 million
Interest receivable	5,506				5,986
Prepaid expenses	254				328
Principal receivable	7				25,570
Other assets	35				333
Total assets of consolidated RSO VIEs	$	1,484,411			$	1,951,504
(2) Liabilities of consolidated VIEs of RSO included in the total liabilities above:
Borrowings	$	1,166,209			$	1,614,882
Accrued interest expense	2,184				2,666
Derivatives, at fair value	11,766				14,078
Accounts payable and other liabilities	646				698
Total liabilities of consolidated RSO VIEs	$	1,180,805			$	1,632,324
RSO Income Statement Detail
(in thousands)
	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2013				2012				2013				2012
	(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
REVENUES
Interest income:
Loans	$	24,374			$	24,130			$	78,370			$	70,757
Securities	3,411				3,564				10,949				10,520
Interest income − other	649				2,218				3,150				8,204
Total interest income	28,434				29,912				92,469				89,481
Interest expense	11,762				8,208				34,061				25,460
Net interest income	16,672				21,704				58,408				64,021
Rental income	4,649				2,689				15,875				6,642
Dividend income	223				17				256				51
Equity in losses of unconsolidated subsidiaries	(505		)		(779		)		(858		)		(1,469		)
Fee income	1,245				1,777				4,182				5,528
Net realized and unrealized gain on sales of investment securities	570				346				3,355				2,148
available-for-sale and loans
Net realized and unrealized (loss) gain on investment securities, trading	(229		)		9,782				(864		)		13,350
Unrealized gain (loss) and net interest income on linked transactions, net	1,161				133				(4,343		)		386
Revenues from consolidated VIE - RSO	23,786				35,669				76,011				90,657
OPERATING EXPENSES
Management fees − related party	5,113				5,521				11,006				13,512
Equity compensation − related party	2,120				1,404				7,866				3,412
Professional services	1,396				845				3,745				2,562
Insurance	214				161				588				478
Rental operating expense	3,523				1,827				11,084				4,456
General and administrative	1,288				844				4,428				3,377
Depreciation and amortization	904				1,249				3,041				3,974
Income tax expense	722				3,979				4,221				6,978
Net impairment losses recognized in earnings	255				9				811				180
Provision for loan losses	741				1,370				541				7,801
Total operating expenses	16,276				17,209				47,331				46,730
Reclassification of income tax provision	(722		)		(3,979		)		(4,221		)		(6,978		)
Expenses from consolidated VIE - RSO	15,554				13,230				43,110				39,752
Adjusted operating income	8,232				22,439				32,901				50,905
OTHER REVENUE (EXPENSE)
Gain on the extinguishment of debt	—				—				—				5,464
Gain on sale of real estate	16,607				—				16,607				—
Other income from consolidated VIE - RSO	16,607				—				16,607				5,464
Income from continuing operations	24,839				22,439				49,508				56,369
Income tax provision - RSO	722				3,979				4,221				6,978
NET INCOME	24,117				18,460				45,287				49,391
Net income allocated to preferred shares	(1,996		)		(308		)		(5,107		)		(333		)
NET INCOME ALLOCABLE TO RSO COMMON SHARES	$	22,121			$	18,152			$	40,180			$	49,058
RSO Summarized Cash Flow Detail
(in thousands)
	Nine Months Ended
	September 30,
	2013				2012
CASH FLOWS FROM OPERATING ACTIVITIES:	(Unaudited)				(Unaudited)
Net income (1)	$	45,287			$	49,391
Line items included in "Change in cash attributable to consolidated VIE - RSO":
Provision for loan losses	541				7,801
Depreciation of investments in real estate and other	1,638				1,264
Amortization of intangible assets	1,463				2,709
Amortization of term facilities	876				710
Accretion of net discounts on loans held for investment	(8,306		)		(10,738		)
Accretion of net discounts on securities available-for-sale	(1,925		)		(2,444		)
Amortization of discount on notes of CDOs	3,937				1,037
Amortization of debt issuance costs on notes of CDOs	2,868				3,330
Amortization of stock-based compensation	7,866				3,412
Amortization of terminated derivative instruments	322				169
Distribution accrued to preferred stockholders	(5,107		)		—
Accretion of interest-only available-for-sales securities	(714		)		(463		)
Deferred income tax provision (benefit)	502				(1,315		)
Purchase of securities, trading	(11,044		)		(8,348		)
Principal payments on securities, trading	4,211				981
Proceeds from sales of securities, trading	18,713				33,579
Net realized and unrealized loss (gain) on investment securities, trading	864				(13,350		)
Net realized gain on sales of investment securities available-for-sale and loans	(3,355		)		(2,148		)
Gain on early extinguishment of debt	—				(5,464		)
Gain on sale of real estate	(16,607		)		—
Net impairment losses recognized in earnings	802				180
Linked transactions fair value adjustments	5,224				—
Equity in losses of unconsolidated subsidiaries	858				1,469
Changes in operating assets and liabilities	17,434				(9,504		)
Subtotal - net cash provided by operating activities (1)	21,061				2,867
Change in consolidated VIE - RSO cash for the period	(59,185		)		(69,616		)
Subtotal -Change in cash attributable to operations of consolidated VIE - RSO before eliminations	(38,124		)		(66,749		)
Elimination of intercompany activity	(291		)		661
Subtotal - Change in cash attributable to operations of consolidated VIE - RSO	(38,415		)		(66,088		)
Non-cash incentive compensation to RAI (1)	484				814
Elimination of intercompany activity	(484		)		(814		)
Non-cash incentive compensation to RAI - after eliminations	—				—
Net cash provided by operating activities (excluding eliminations)	66,832				53,072
	Nine Months Ended
	September 30,
	2013				2012
CASH FLOWS FROM INVESTING ACTIVITIES:	(Unaudited)				(Unaudited)
Purchase of loans	(555,051		)		(479,172		)
Purchase of securities available-for-sale	(120,599		)		(70,654		)
Subtotal - purchase of loans and investment securities by consolidated VIE - RSO	(675,650		)		(549,826		)
Proceeds from sale of loans	314,112				139,708
Principal payments received on loans	487,606				356,866
Principal payments on securities available-for-sale	33,010				36,365
Proceeds from sale of securities available-for-sale	7,025				6,719
Principal payments received on loans – related parties	499				459
Subtotal - principal payments and proceeds from sale of loans and securities by consolidated VIE - RSO	842,252				540,117
Decrease in restricted cash	30,079				85,413
Lines included in "Other - consolidated VIE - RSO":
Investment in unconsolidated entity	(25,508		)		(725		)
Equity contribution to VIE	—				(710		)
Minority interest equity	2,200				1,979
Improvement of  real estate held-for-sale	(404		)		(138		)
Proceeds from sale of real estate held-for-sale	37,001				2,886
Distributions from investments in real estate	522				1,152
Improvements in investments in real estate	(365		)		(852		)
Purchase of furniture and fixtures	(128		)		—
Subtotal - other investing activities of consolidated VIE, before eliminations	13,318				3,592
Eliminations	28				43
Subtotal - other investing activities of consolidated VIE	13,346				3,635
Net cash provided by investing activities (excluding eliminations)	209,999				79,296
CASH FLOWS FROM FINANCING ACTIVITIES:
Items included in "Net borrowings (repayments) of debt by consolidated VIE - RSO":
Proceeds from borrowings:
Repurchase agreements	143,203				33,820
Payments on borrowings:
Collateralized debt obligations	(450,437		)		(156,989		)
Mortgage payable	(13,600		)		—
Retirement of debt	—				(4,850		)
Net repayments of debt by consolidated VIE - RSO:	(320,834		)		(128,019		)
Distributions paid on common stock	(68,010		)		(54,231		)
Elimination of RAI dividend received	1,669				1,543
Distribution paid on RSO common stock, after eliminations	(66,341		)		(52,688		)
Items included in "Net proceeds from issuance of stock by consolidated VIE - RSO":
Net proceeds from issuances of common stock (net of offering costs of $4,265 and $2,165)	114,018				55,502
Net proceeds from dividend reinvestment and stock purchase plan (net of offering costs of $0 and $19)	19,092				50,424
Proceeds from issuance of 8.5% Series A redeemable	112				16,411
preferred shares (net of offering costs of $3 and $781)
Proceeds from issuance of 8.25% Series B redeemable	51,057				—
preferred shares (net of offering costs of $1,091 and $0)
Subtotal - Net proceeds from issuance of stock by consolidated VIE - RSO	184,279				122,337
Items included in "Other - consolidated VIE - RSO" in financing section:
Payment of debt issuance costs	(1,740		)		(586		)
Payment of equity to third party sub-note holders	(6,952		)		(2,160		)
Distributions paid on preferred stock	(4,389		)		(93		)
Subtotal - Other consolidated VIE -RSO financing activity	(13,081		)		(2,839		)
Net cash used in financing activities (excluding eliminations)	$	(217,646	)		$	(62,752	)
NET INCREASE IN CASH AND CASH EQUIVALENTS	59,185				69,616
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	85,278				43,116
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	144,463			$	112,732
SUPPLEMENTAL DISCLOSURE:
Interest expense paid in cash	$	28,391			$	24,209
Real property useful lives	'
	RSO depreciates real property using the straight-line method over the estimated useful lives of the assets as follows:
	Category	Term
	Building	25 – 40 years
	Site improvements	Lesser of the remaining life of building or useful lives
Schedule of Variable Interest Entities	'
	The following table shows the classification, carrying value and maximum exposure to loss with respect to RSO’s unconsolidated VIEs as of September 30, 2013 (in thousands):
		Unconsolidated Variable Interest Entities
		LEAF				Unsecured				Resource				RRE VIP				Värde				Life			CVC		Harvest CLO VII		Total		Maximum
		Commercial				Junior				Capital				Borrower,				Investment				Care			Global						Exposure
		Capital, Inc.				Subordinated				Asset				LLC				Partners,				Funding			Opps						to Loss (1)
						Debentures				Management								LP							Fund
										CLOs
	Investment in	$	40,820			$	1,548			$	—			$	(330	)		$	575			$	1,651		$	15,526	$	4,999	$	64,789	$	64,789
	unconsolidated
	entities
	Intangible	—				—				11,687				—				—				—			—		—		11,687		$	11,687
	assets
	Total assets	40,820				1,548				11,687				(330		)		575				1,651			15,526		4,999		76,476
	Borrowings	—				50,956				—				—				—				—			—		—		50,956		N/A
	Total	—				50,956				—				—				—				—			—		—		50,956		N/A
	liabilities
	Net asset	$	40,820			$	(49,408	)		$	11,687			$	(330	)		$	575			$	1,651		$	15,526	$	4,999	$	25,520	N/A
	(liability)
	-1	RSO's maximum exposure to loss at September 30, 2013 does not exceed the carrying amount of its investment.
	The following table shows the classification and carrying value of assets and liabilities of consolidated RSO VIEs as of September 30, 2013 (in thousands):
		Apidos I				Apidos				Apidos				Apidos				Whitney CLO I				RREF			RREF		Total
						III				Cinco				VIII								2006			2007
	ASSETS
	Restricted cash (1)	$	10,253			$	2,943			$	18,368			$	16,152			$	5,586			$	20		$	430	$	53,752
	Investment securities	8,097				6,217				16,622				1,975								11,658			66,424		110,993
	available-for-sale, pledged as
	collateral, at fair value
	Loans, pledged as collateral	100,268				148,660				308,128				7,874				635				158,659			257,289		981,513
	Loans held for sale	—				183				3,688				325,675				2,805				—			—		332,351
	Interest receivable	(148		)		597				1,094				752				(18		)		1,388			1,841		5,506
	Prepaid assets	14				14				26				7				23				99			71		254
	Principal receivable	—				—				7				—				—				—			—		7
	Other assets	—				—				35				—				—				—			—		35
	Total assets (2)	$	118,484			$	158,614			$	347,968			$	352,435			$	9,031			$	171,824		$	326,055	$	1,484,411
	LIABILITIES
	Borrowings	101,827				145,875				320,997				321,360				2,424				95,151			178,575		$	1,166,209
	Accrued interest expense	263				63				325				1,386				—				41			106		2,184
	Derivatives, at fair value	—				—				—				—				—				1,379			10,387		11,766
	Accounts payable and other liabilities	154				18				23				384				43				22			2		646
	Total liabilities	$	102,244			$	145,956			$	321,345			$	323,130			$	2,467			$	96,593		$	189,070	$	1,180,805
	(1)    Includes $16.7 million available for reinvestment in certain of the CDOs.
	(2)    Assets of each of the consolidated VIEs may only be used to settle the obligations of each respective VIE.
Schedule of Other Significant Noncash Transactions	'
	Supplemental disclosure of cash flow information (in thousands):
		Nine Months Ended
		September 30,
		2013				2012
	Non-cash investing activities include the following:
	Acquisition of real estate investments	$	—			$	(21,661	)
	Conversion of loans to investment in real estate	$	—			$	21,661
	Non-cash financing activities include the following:
	Distributions on common stock declared but not paid	$	25,447			$	19,897
	Distribution on preferred stock declared but not paid	$	2,023			$	308
	Income taxes paid in cash	$	8,997			$	19,771
	Issuance of restricted stock	$	242			$	480
	Subscription receivable	$	257			$	24,213
Investment trading securities at fair value	'
	The following table summarizes RSO's structured notes and residential mortgage-backed securities (“RMBS”) which are classified as investment securities, trading and carried at fair value (in thousands):
		Amortized				Unrealized				Unrealized				Fair Value
		Cost				Gains				Losses
	September 30, 2013:
	Structured notes	$	8,554			$	4,026			$	(1,000	)		$	11,580
	RMBS	1,934				—				(1,415		)		519
	Total	$	10,488			$	4,026			$	(2,415	)		$	12,099
	December 31, 2012:
	Structured notes	$	9,413			$	10,894			$	(1,028	)		$	19,279
	RMBS	6,047				858				(1,341		)		5,564
	Total	$	15,460			$	11,752			$	(2,369	)		$	24,843
Available-for-sale securities, fair value	'
	The following table summarizes RSO's investment securities, including those pledged as collateral and classified as available-for-sale, which are carried at fair value (in thousands):
		Amortized				Unrealized				Unrealized				Fair Value
		Cost (1)				Gains				Losses
	September 30, 2013:
	CMBS	$	194,268			$	7,297			$	(13,792	)		$	187,773
	ABS	26,317				1,776				(495		)		27,598
	Corporate bonds	5,375				29				(91		)		5,313
	Other asset-backed	—				—				—				—
	Total	$	225,960			$	9,102			$	(14,378	)		$	220,684
	December 31, 2012:
	CMBS	$	182,828			$	4,626			$	(16,639	)		$	170,815
	ABS	25,885				1,700				(1,115		)		26,470
	Corporate Bonds	34,361				111				(190		)		34,282
	Other asset-backed	—				23				—				23
	Total	$	243,074			$	6,460			$	(17,944	)		$	231,590
	-1	As of September 30, 2013 and December 31, 2012, $174.0 million and $195.2 million, respectively, of securities were pledged as collateral security under related financings.
Estimated maturities of available-for-sale securities	'
	The following table summarizes the estimated maturities of RSO’s CMBS, ABS, and corporate bonds according to their estimated weighted average life classifications (in thousands, except percentages):
	Weighted Average Life	Fair Value				Amortized				Weighted
						Cost				Average
										Coupon
	September 30, 2013:
	Less than one year	$	42,561		(1)	$	45,731			4.97%
	Greater than one year and less than five years	136,672				138,629				4.67%
	Greater than five years and less than ten years	37,088				36,905				2.71%
	Greater than ten years	4,363				4,695				4.03%
	Total	$	220,684			$	225,960			4.39%
	December 31, 2012:
	Less than one year	$	42,618		(1)	$	46,522			4.09%
	Greater than one year and less than five years	122,509				131,076				4.55%
	Greater than five years and less than ten years	61,780				60,801				3.31%
	Greater than ten years	4,683				4,675				4.03%
	Total	$	231,590			$	243,074			4.12%
	(1)    RSO expects that the maturity date of these CMBS will either be extended or the CMBS will be paid in full.
Gross unrealized loss and fair value of securities	'
	The following table shows the fair value and gross unrealized losses, aggregated by investment category and length of time, of those individual investment securities available-for-sale that have been in a continuous unrealized loss position during the periods specified (in thousands):
		Less than 12 Months								More than 12 Months								Total
		Fair Value				Gross				Fair Value				Gross				Fair Value				Gross
						Unrealized								Unrealized								Unrealized
						Losses								Losses								Losses
	September 30, 2013:
	CMBS	$	62,839			$	(8,333	)		$	12,124			$	(5,459	)		$	74,963			$	(13,792	)
	ABS	201				(2		)		6,589				(493		)		6,790				(495		)
	Corporate bonds	2,976				(91		)		—				—				2,976				(91		)
	Total temporarily impaired securities	$	66,016			$	(8,426	)		$	18,713			$	(5,952	)		$	84,729			$	(14,378	)
	December 31, 2012:
	CMBS	$	25,803			$	(442	)		$	38,734			$	(16,197	)		$	64,537			$	(16,639	)
	ABS	—				—				5,961				(1,115		)		5,961				(1,115		)
	Corporate bonds	19,445				(190		)		—				—				19,445				(190		)
	Total temporarily impaired securities	$	45,248			$	(632	)		$	44,695			$	(17,312	)		$	89,943			$	(17,944	)
Investments in real estate	'
	The table below summarizes RSO’s investments in real estate (in thousands):
		As of September 30, 2013						As of December 31, 2012
		Book Value				Number of		Book Value				Number of
						Properties						Properties
	Multi-family property	$	22,102			1		$	42,179			2
	Office property	10,244				1		10,149				1
	Hotel property	25,718				1		25,608				1
	Subtotal	58,064						77,936
	Less:  Accumulated depreciation	(2,920		)				(2,550		)
	Investments in real estate	$	55,144					$	75,386
Aggregate estimated fair value of assets and liabilities acquired	'
	The following table is a summary of the aggregate estimated fair value of the assets and liabilities acquired on the respective date of acquisition during the year ended December 31, 2012 (in thousands). There were no such acquisitions during the nine months ended September 30, 2013.
	Description		31-Dec-12
	Assets acquired:
	Investments in real estate		$	25,500
	Other assets		(89		)
	Total assets acquired		25,411
	Liabilities assumed:
	Accounts payable and other liabilities		3,750
	Total liabilities assumed		3,750
	Estimated fair value of net assets acquired		$	21,661
Summary of loans held for Investments	'
	The following is a summary of RSO’s loans (in thousands):
	Loan Description		Principal				Unamortized				Carrying
							(Discount)				Value (2)
							Premium (1)
	September 30, 2013:
	Bank loans (3)		$	914,676			$	(5,648	)		$	909,028
	Commercial real estate loans:
	Whole loans		671,118				(3,003		)		668,115
	B notes		16,328				(90		)		16,238
	Mezzanine loans		57,667				(93		)		57,574
	Total commercial real estate loans		745,113				(3,186		)		741,927
	Subtotal loans before allowances		1,659,789				(8,834		)		1,650,955
	Allowance for loan loss		(12,865		)		—				(12,865		)
	Total		$	1,646,924			$	(8,834	)		$	1,638,090
	December 31, 2012:
	Bank loans (3)		$	1,218,563			$	(25,249	)		$	1,193,314
	Commercial real estate loans:
	Whole loans (4)		569,829				(1,891		)		567,938
	B notes		16,441				(114		)		16,327
	Mezzanine loans		82,992				(206		)		82,786
	Total commercial real estate loans		669,262				(2,211		)		667,051
	Subtotal loans before allowances		1,887,825				(27,460		)		1,860,365
	Allowance for loan loss		(17,691		)		—				(17,691		)
	Total		$	1,870,134			$	(27,460	)		$	1,842,674
	-1	Amounts include deferred amendment fees of $288,000 and $450,000 and deferred upfront fees of $260,000 and $334,000 being amortized over the life of the bank loans as of September 30, 2013 and December 31, 2012, respectively.  Amounts include loan origination fees of $2.9 million and $1.9 million and loan extension fees of $189,000 and $214,000 being amortized over the life of the commercial real estate loans as of September 30, 2013 and December 31, 2012, respectively.
	-2	Substantially all loans are pledged as collateral under various borrowings at September 30, 2013 and December 31, 2012, respectively.
	-3	Amounts include $332.4 million and $14.9 million of bank loans held for sale at September 30, 2013 and December 31, 2012, respectively.
	-4	Amount includes $34.0 million from two whole loans which are classified as loans held for sale at December 31, 2012.
Summary of the weighted average life of bank loans at amortized cost	'
	The following is a summary of the weighted average life of RSO’s bank loans, at amortized cost (in thousands):
		September 30, 2013 (1)				December 31,
						2012
	Less than one year	$	29,008			$	10,028
	Greater than one year and less than five years	574,042				821,568
	Five years or greater	305,978				361,718
		$	909,028			$	1,193,314
	-1	Bank loans include $4.6 million with maturity dates less than one year, $157.4 million with maturity dates greater than one year and less than five years and $170.3 million with maturity dates five years or greater that are held for sale as of September 30, 2013.
Summary of the commercial real estate loans	'
	The following is a summary of RSO’s commercial real estate loans held for investment (dollars in thousands):
	Description		Quantity		Amortized Cost				Contracted		Maturity
									Interest Rates		Dates (3)
	September 30, 2013:
	Whole loans, floating rate (1)		47		$	668,115			LIBOR plus 2.50% to		December 2013 to
									LIBOR plus 8.0%		Aug-19
	B notes, fixed rate		1		16,238				8.68%		Apr-16
	Mezzanine loans, fixed rate (6)		4		57,574				0.50% to 20.00%		December 2014 to
											Sep-19
	Total (2)		52		$	741,927
	December 31, 2012:
	Whole loans, floating rate (1) (4) (5)		37		$	567,938			LIBOR plus 2.50% to		June 2013 to
									LIBOR plus 5.50%		Feb-19
	B notes, fixed rate		1		16,327				8.68%		Apr-16
	Mezzanine loans, floating rate		2		15,845				LIBOR plus 2.50% to		August 2013 to
									LIBOR plus 7.45%		Dec-13
	Mezzanine loans, fixed rate (6)		3		66,941				0.50% to 20.00%		September 2014 to
											Sep-19
	Total (2)		43		$	667,051
	-1	Whole loans had $6.6 million and $8.9 million in unfunded loan commitments as of September 30, 2013 and December 31, 2012, respectively.  These commitments are funded as the borrowers request additional funding and have satisfied the requirements to obtain this additional funding.
	-2	The total does not include an allowance for loan loss of $9.9 million and $8.0 million as of September 30, 2013 and December 31, 2012, respectively.
	-3	Maturity dates do not include possible extension options that may be available to the borrowers.
	-4	Floating rate whole loans include a $2.0 million portion of a whole loan that has a fixed rate of 15.0% as of December 31, 2012.
	-5	Amount includes $34.0 million from two whole loans that were classified as loans held for sale at December 31, 2012.
	-6	Fixed rate mezzanine loans include a mezzanine loan that was modified into two tranches which both currently pay interest at 0.50%. In addition, the subordinate tranche accrues interest at LIBOR plus 18.50% which is deferred until maturity.
Summary of the weighted average life of the commercial real estate loans at amortized cost	'
	The following is a summary of the weighted average life of RSO’s commercial real estate loans, at amortized cost (in thousands):
	Description		2013				2014				2015 and Thereafter				Total
	September 30, 2013:
	B notes		$	—			$	—			$	16,238			$	16,238
	Mezzanine loans		—				11,398				46,176				57,574
	Whole loans		4,067				—				664,048				668,115
	Total (1)		$	4,067			$	11,398			$	726,462			$	741,927
	December 31, 2012:
	B notes		$	—			$	—			$	16,327			$	16,327
	Mezzanine loans		5,328				20,694				56,764				82,786
	Whole loans		71,799				—				496,139				567,938
	Total (1)		$	77,127			$	20,694			$	569,230			$	667,051
	-1	Weighted average life of commercial real estate loans assumes full exercise of extension options available to borrowers.
Allocation of allowance for loan loss	'
	The following is a summary of the allocation of the allowance for loan loss with respect to RSO’s commercial real estate and bank loans (in thousands, except percentages) by asset class:
	Description		Allowance for				Percentage of
			Loan Loss				Total Allowance
	September 30, 2013:
	B notes		$	166			1.29%
	Mezzanine loans		531				4.12%
	Whole loans		9,214				71.63%
	Bank loans		2,954				22.96%
	Total		$	12,865
	December 31, 2012:
	B notes		$	206			1.16%
	Mezzanine loans		860				4.86%
	Whole loans		6,920				39.12%
	Bank loans		9,705				54.86%
	Total		$	17,691
Allowance for loan losses and recorded investments	'
	The following tables show the allowance for loan losses and recorded investments in loans for the years indicated (in thousands):
		Commercial Real Estate Loans				Bank Loans				Loans Receivable-Related Party				Total
	September 30, 2013:
	Allowance for Loan Losses:
	Allowance for losses at January 1, 2013	$	7,986			$	9,705			$	—			$	17,691
	Provision (benefit) for loan loss	2,017				(1,476		)		—				541
	Loans charged-off	(92		)		(5,275		)		—				(5,367		)
	Allowance for losses at September 30, 2013	$	9,911			$	2,954			$	—			$	12,865
	Ending balance:
	Individually evaluated for impairment	$	4,067			$	1,882			$	—			$	5,949
	Collectively evaluated for impairment	$	5,844			$	1,072			$	—			$	6,916
	Loans acquired with deteriorated credit quality	$	—			$	—			$	—			$	—
	Loans:
	Ending balance:
	Individually evaluated for impairment	$	191,100			$	3,553			$	8,067			$	202,720
	Collectively evaluated for impairment	$	550,827			$	905,475			$	—			$	1,456,302
	Loans acquired with deteriorated credit quality	$	—			$	—			$	—			$	—
	December 31, 2012:
	Allowance for Loan Losses:
	Allowance for losses at January 1, 2012	$	24,221			$	3,297			$	—			$	27,518
	Provision for loan loss	5,225				11,593				—				16,818
	Loans charged-off	(21,460		)		(5,185		)		—				(26,645		)
	Allowance for losses at December 31, 2012	$	7,986			$	9,705			$	—			$	17,691
	Ending balance:
	Individually evaluated for impairment	$	2,142			$	3,236			$	—			$	5,378
	Collectively evaluated for impairment	$	5,844			$	6,469			$	—			$	12,313
	Loans acquired with deteriorated credit quality	$	—			$	—			$	—			$	—
	Loans:
	Ending balance:
	Individually evaluated for impairment	$	177,055			$	4,689			$	8,324			$	190,068
	Collectively evaluated for impairment	$	489,996			$	1,187,874			$	—			$	1,677,870
	Loans acquired with deteriorated credit quality	$	—			$	751			$	—			$	751
Credit quality indicators for Bank loans and Commercial real estate loans	'
	Credit risk profiles of commercial real estate loans were as follows (in thousands):
		Rating 1				Rating 2				Rating 3				Rating 4				Held for Sale				Total
	As of September 30, 2013
	Whole loans	$	591,105			$	44,943			$	32,067			$	—			$	—			$	668,115
	B notes	16,238				—				—				—				—				16,238
	Mezzanine loans	57,574				—				—				—				—				57,574
		$	664,917			$	44,943			$	32,067			$	—			$	—			$	741,927
	As of December 31, 2012
	Whole loans	$	427,456			$	—			$	106,482			$	—			$	34,000			$	567,938
	B notes	16,327				—				—				—				—				16,327
	Mezzanine loans	38,296				—				44,490				—				—				82,786
		$	482,079			$	—			$	150,972			$	—			$	34,000			$	667,051
	Credit risk profiles of bank loans were as follows (in thousands):
		Rating 1				Rating 2				Rating 3				Rating 4				Rating 5				Held for Sale			Total
	As of September 30, 2013
	Bank loans	$	514,277			$	39,123			$	16,206			$	3,518			$	3,553			$	332,351		$	909,028
	As of December 31, 2012
	Bank loans	$	1,095,148			$	33,677			$	27,837			$	16,318			$	5,440			$	14,894		$	1,193,314
Loan portfolios aging analysis	'
	The following table shows the loan portfolio aging analysis as of the dates indicated at cost basis (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
	September 30, 2013:
	Whole loans	$	—			$	—			$	—			$	—			$	668,115			$	668,115		$	—
	B notes	—				—				—				—				16,238				16,238			—
	Mezzanine loans	—				—				—				—				57,574				57,574			—
	Bank loans	—				—				3,553				3,553				905,475				909,028			—
	Loans receivable- related party	—				—				—				—				8,067				8,067			—
	Total loans	$	—			$	—			$	3,553			$	3,553			$	1,655,469			$	1,659,022		$	—
	December 31, 2012:
	Whole loans	$	—			$	—			$	—			$	—			$	567,938			$	567,938		$	—
	B notes	—				—				—				—				16,327				16,327			—
	Mezzanine loans	—				—				—				—				82,786				82,786			—
	Bank loans	1,549				—				3,891				5,440				1,187,874				1,193,314			—
	Loans receivable- related party	—				—				—				—				8,324				8,324			—
	Total loans	$	1,549			$	—			$	3,891			$	5,440			$	1,863,249			$	1,868,689		$	—
Impaired loans	'
	The following tables show impaired loans in the categories indicated (in thousands):
		Recorded Balance				Unpaid Principal Balance				Specific Allowance				Average Investment in Impaired Loans				Interest Income Recognized
	September 30, 2013:
	Loans without a specific valuation allowance:
	Whole loans	$	127,961			$	127,961			$	—			$	121,371			$	6,951
	B notes	—				—				—				—				—
	Mezzanine loans	38,072				38,072				—				38,072				1,300
	Bank loans	—				—				—				—				—
	Loans receivable - related party	5,924				5,924				—				—				—
	Loans with a specific valuation allowance:
	Whole loans	25,067				25,067				(4,067		)		24,562				1,824
	B notes	—				—				—				—				—
	Mezzanine loans	—				—				—				—				—
	Bank loans	3,553				3,553				(1,882		)		—				—
	Loans receivable - related party	—				—				—				—				—
	Total:
	Whole loans	$	153,028			$	153,028			$	(4,067	)		$	145,933			$	8,775
	B notes	—				—				—				—				—
	Mezzanine loans	38,072				38,072				—				38,072				1,300
	Bank loans	3,553				3,553				(1,882		)		—				—
	Loans receivable - related party	5,924				5,924				—				—				—
		$	200,577			$	200,577			$	(5,949	)		$	184,005			$	10,075
	December 31, 2012:
	Loans without a specific valuation allowance:
	Whole loans	$	115,841			$	115,841			$	—			$	114,682			$	3,436
	B notes	—				—				—				—				—
	Mezzanine loans	38,072				38,072				—				38,072				367
	Bank loans	—				—				—				—				—
	Loans receivable - related party	6,754				6,754				—				—				851
	Loans with a specific valuation allowance:
	Whole loans	23,142				23,142				(2,142		)		22,576				801
	B notes	—				—				—				—				—
	Mezzanine loans	—				—				—				—				—
	Bank loans	5,440				5,440				(3,236		)		—				—
	Loans receivable - related party	—				—				—				—				—
	Total:
	Whole loans	$	138,983			$	138,983			$	(2,142	)		$	137,258			$	4,237
	B notes	—				—				—				—				—
	Mezzanine loans	38,072				38,072				—				38,072				367
	Bank loans	5,440				5,440				(3,236		)		—				—
	Loans receivable - related party	6,754				6,754				—				—				851
		$	189,249			$	189,249			$	(5,378	)		$	175,330			$	5,455
Troubled debt restructurings on financing receivables	'
	The following tables show troubled-debt restructurings in RSO's loan portfolio (in thousands):
		Number of Loans		Pre-Modification Outstanding Recorded Balance				Post-Modification Outstanding Recorded Balance
	Three Months Ended September 30, 2013:
	Whole loans	2		$	48,374			$	52,716
	B notes	—		—				—
	Mezzanine loans	—		—				—
	Bank loans	—		—				—
	Loans receivable - related party	—		—				—
	Total loans	2		$	48,374			$	52,716
	Three Months Ended September 30, 2012:
	Whole loans	2		$	42,550			$	42,550
	B notes	—		—				—
	Mezzanine loans	1		38,072				38,072
	Bank loans	—		—				—
	Loans receivable	—		—				—
	Loans receivable - related party	—		—				—
	Total loans	3		$	80,622			$	80,622
	Nine Months Ended September 30, 2013:
	Whole loans	4		$	104,702			$	109,044
	B notes	—		—				—
	Mezzanine loans	—		—				—
	Bank loans	—		—				—
	Loans receivable - related party	1		6,592				6,592
	Total loans	5		$	111,294			$	115,636
	Nine Months Ended September 30, 2012:
	Whole loans	5		$	168,708			$	151,422
	B notes	—		—				—
	Mezzanine loans	1		38,072				38,072
	Bank loans	—		—				—
	Loans receivable	—		—				—
	Loans receivable - related party	1		7,797				7,797
	Total loans	7		$	214,577			$	197,291
Summary of intangible assets	'
	The following table summarizes intangible assets at September 30, 2013 and December 31, 2012 (in thousands).
		Beginning Balance				Accumulated Amortization				Net Assets
	September 30, 2013:
	Investment in RCAM	$	21,213			$	(9,526	)		$	11,687
	Investments in real estate:
	In-place leases	2,461				(2,421		)		40
	Above (below) market leases	29				(28		)		1
		2,490				(2,449		)		41
	Total intangible assets	$	23,703			$	(11,975	)		$	11,728
	December 31, 2012:
	Investment in RCAM	$	21,213			$	(8,108	)		$	13,105
	Investments in real estate:
	In-place leases	2,461				(2,379		)		82
	Above (below) market leases	29				(24		)		5
		2,490				(2,403		)		87
	Total intangible assets	$	23,703			$	(10,511	)		$	13,192
Schedule of Debt	'
	Certain information with respect to RSO’s borrowings at September 30, 2013 and December 31, 2012 is summarized in the following table (in thousands, except percentages):
		Outstanding				Weighted		Weighted		Value of
		Borrowings				Average		Average		Collateral
						Borrowing		Remaining
						Rate		Maturity
	September 30, 2013:
	RREF CDO 2006-1 Senior Notes (1)	$	95,151			1.86%		32.9 years		$	170,255
	RREF CDO 2007-1 Senior Notes (2)	178,575				0.85%		33.0 years		325,551
	Apidos CDO I Senior Notes (3)	101,827				1.53%		3.8 years		117,827
	Apidos CDO III Senior Notes (4)	145,875				0.86%		6.7 years		157,009
	Apidos Cinco CDO Senior Notes (5)	320,997				0.77%		6.6 years		339,154
	Apidos CLO VIII Senior Notes (6)	302,916				2.09%		17 days		351,434
	Apidos CLO VIII Securitized Borrowings (10)	18,444				14.13%		17 days		—
	Whitney CLO I Senior Notes(9)	—				—%		N/A		8,573
	Whitney CLO I Securitized Borrowings (9)	2,424				5.78%		N/A		—
	Unsecured Junior Subordinated Debentures (7)	50,956				4.22%		22.9 years		—
	Repurchase Agreements (8)	205,265				2.29%		18 days		284,290
	Total	$	1,422,430			1.73%		9.6 years		$	1,754,093
	December 31, 2012:
	RREF CDO 2006-1 Senior Notes (1)	$	145,664			1.42%		33.6 years		$	295,759
	RREF CDO 2007-1 Senior Notes (2)	225,983				0.81%		33.8 years		292,980
	Apidos CDO I Senior Notes (3)	202,969				1.07%		4.6 years		217,745
	Apidos CDO III Senior Notes (4)	221,304				0.80%		7.5 years		232,655
	Apidos Cinco CDO Senior Notes (5)	320,550				0.82%		7.4 years		344,105
	Apidos CLO VIII Senior Notes (6)	300,951				2.16%		8.8 years		351,014
	Apidos CLO VIII Securitized Borrowings (10)	20,047				15.27%		8.8 years		—
	Whitney CLO I Senior Notes(9)	171,555				1.82%		4.2 years		191,704
	Whitney CLO I Securitized Borrowings (9)	5,860				9.50%		4.2 years		—
	Unsecured Junior Subordinated Debentures (7)	50,814				4.26%		23.7 years		—
	Repurchase Agreements (8)	106,303				2.28%		18 days		145,234
	Mortgage Payable	13,600				4.17%		5.6 years		18,100
	Total	$	1,785,600			1.62%		12.5 years		$	2,089,296
	-1	Amount represents principal outstanding of $95.4 million and $146.4 million less unamortized issuance costs of $268,000 and $728,000 as of September 30, 2013 and December 31, 2012, respectively.  This CDO transaction closed in August 2006.
	-2	Amount represents principal outstanding of $179.4 million and $227.4 million less unamortized issuance costs of $786,000 and $1.4 million as of September 30, 2013 and December 31, 2012, respectively.  This CDO transaction closed in June 2007.
	-3	Amount represents principal outstanding of $101.8 million and $203.2 million less unamortized issuance costs of $0 and $274,000 as of September 30, 2013 and December 31, 2012, respectively.  This CDO transaction closed in August 2005.
	-4	Amount represents principal outstanding of $146.1 million and $222 million less unamortized issuance costs of $205,000 and $659,000 as of September 30, 2013 and December 31, 2012, respectively.  This CDO transaction closed in May 2006.
	-5	Amount represents principal outstanding of $322.0 million and $322.0 million less unamortized issuance costs of $1.0 million and $1.5 million as of September 30, 2013 and December 31, 2012, respectively.  This CDO transaction closed in May 2007.
	-6	Amount represents principal outstanding of $317.6 million and $317.6 million, less unamortized issuance costs of $4.1 million and $4.7 million, and less unamortized discounts of $10.6 million and $11.9 million as of September 30, 2013 and December 31, 2012, respectively.  This CDO transaction closed in October 2011. Apidos CLO VIII was called and the notes were paid in full in October 2013.
	-7	Amount represents junior subordinated debentures issued to RCT I and RCT II in May 2006 and September 2006, respectively.
	-8	Amount represents principal outstanding of $52.7 million and $47.5 million less unamortized deferred debt costs of $47,000 and $23,000 plus accrued interest costs of $25,000 and $27,000 related to CMBS repurchase facilities as of September 30, 2013 and December 31, 2012, respectively, and principal outstanding of $153.8 million and $59.1 million less unamortized deferred debt costs of $1.3 million and $348,000 plus accrued interest costs of $161,000 and $79,000 related to CRE repurchase facilities as of September 30, 2013 and December 31, 2012. Amount does not reflect CMBS repurchase agreement borrowings that are components of Linked Transactions. At September 30, 2013 and December 31, 2012, RSO had repurchase agreements of $63.7 million and $20.4 million and accrued interest costs of $41,000 and $10,000, respectively, that were linked to CMBS purchases and accounted for as Linked Transactions, and, as such, the linked repurchase agreements are not included in the above table.
	-9	Amount represents principal outstanding of $174.1 million less unamortized discounts of $2.5 million as of December 31, 2012. In September 2013, the Company called and liquidated Whitney CLO I. As a result, substantially all of the remaining assets were sold and the balance on the outstanding notes totaling $103.7 million was paid down.
	-10	The securitized borrowings are collateralized by the same assets as the Apidos CLO VIII Senior Notes and the Whitney CLO I Senior Notes, respectively.
Fair value assets and liabilities measured on recurring basis	'
	The following table presents information about RSO’s assets (including derivatives that are presented net) measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques utilized by RSO to determine such fair value as follows (in thousands):
		Level 1				Level 2				Level 3				Total
	September 30, 2013:
	Assets:
	Investment securities, trading	$	—			$	—			$	12,099			$	12,099
	Investment securities available-for-sale	4,972				85,826				129,886				220,684
	CMBS - linked transactions	—				9,410				20,568				29,978
	Total assets at fair value	$	4,972			$	95,236			$	162,553			$	262,761
	Liabilities:
	Derivatives (net)	$	—			$	442			$	11,766			$	12,208
	Total liabilities at fair value	$	—			$	442			$	11,766			$	12,208
	December 31, 2012:
	Assets:
	Investment securities, trading	$	—			$	—			$	24,843			$	24,843
	Investment securities available-for-sale	9,757				132,561				89,272				231,590
	CMBS - linked transactions	—				4,802				2,033				6,835
	Total assets at fair value	$	9,757			$	137,363			$	116,148			$	263,268
	Liabilities:
	Derivatives (net)	$	—			$	610			$	14,077			$	14,687
	Total liabilities at fair value	$	—			$	610			$	14,077			$	14,687
Fair value assets unobservable input reconciliation	'
	The following table presents additional information about assets which are measured at fair value on a recurring basis for which RSO has utilized Level 3 inputs (in thousands):
		Level 3
	Beginning balance, January 1, 2013	$	116,148
	Total gains or losses (realized/unrealized):
	Included in earnings	8,530
	Purchases	89,514
	Sales	(30,196		)
	Paydowns	(20,186		)
	Unrealized gains (losses) – included in Accumulated other comprehensive income	(1,257		)
	Transfers from level 2	—
	Ending balance, September 30, 2013	$	162,553
Fair value liabilities unobservable input reconciliation	'
	The following table presents additional information about liabilities which are measured at fair value on a recurring basis for which RSO has utilized Level 3 inputs (in thousands):
		Level 3
	Beginning balance, January 1, 2013	$	14,077
	Unrealized gains – included in Accumulated other comprehensive income	(2,311		)
	Ending balance, September 30, 2013	$	11,766
Fair value assets and liabilities measured on nonrecurring basis	'
	The following table summarizes the financial assets and liabilities measured at fair value on a nonrecurring basis and indicates the fair value hierarchy of the valuation techniques utilized by RSO to determine such fair value as follows (in thousands):
		Level 1				Level 2				Level 3				Total
	September 30, 2013:
	Assets:
	Loans held for sale	$	—			$	332,351			$	—			$	332,351
	Impaired loans	—				1,046				—				1,046
	Total assets at fair value	$	—			$	333,397			$	—			$	333,397
	December 31, 2012:
	Assets:
	Loans held for sale	$	—			$	14,894			$	34,000			$	48,894
	Impaired loans	—				4,366				21,000				25,366
	Total assets at fair value	$	—			$	19,260			$	55,000			$	74,260
Significant unobservable inputs used in fair value measurements	'
	For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of September 30, 2013, the significant unobservable inputs used in the fair value measurements were as follows (in thousands):
		Fair Value at				Valuation Technique		Significant Unobservable Inputs		Significant
		30-Sep-13								Unobservable
										Input Value
	Interest rate swap agreements	$	12,208			Discounted cash flow		Weighted average credit spreads		5.00%
Fair value financial instruments not reported at fair value	'
	The fair values of RSO’s remaining financial instruments that are not reported at fair value on the RSO consolidated balance sheets are reported below (in thousands):
						Fair Value Measurements
		Carrying Amount				Fair Value				Quoted Prices				Significant				Significant
										in Active Markets				Other				Unobservable
										for Identical				Observable				Inputs
										Assets of Liabilities				Inputs				(Level 3)
										(Level 1)				(Level 2)
	September 30, 2013:
	Loans held-for-investment	$	1,305,739			$	1,299,103			$	—			$	568,545			$	730,558
	Loans receivable-related party	$	8,067			$	8,067			$	—			$	—			$	8,067
	CDO notes	$	1,166,209			$	1,020,919			$	—			$	1,020,919			$	—
	Junior subordinated notes	$	50,956			$	17,450			$	—			$	—			$	17,450
	Repurchase agreement	$	205,265			$	205,265			$	—			$	—			$	205,265
	December 31, 2012:
	Loans held-for-investment	$	1,793,780			$	1,848,617			$	—			$	1,186,642			$	661,975
	Loans receivable-related party	$	8,324			$	8,324			$	—			$	—			$	8,324
	CDO notes	$	1,614,883			$	1,405,124			$	—			$	1,405,124			$	—
	Junior subordinated notes	$	50,814			$	17,308			$	—			$	—			$	17,308
	Repurchase agreement	$	106,303			$	106,303			$	—			$	—			$	106,303
Resource Capital Corp [Member] | CMBS - Term Repurchase Facilities [Member]	'
Debt Instrument [Line Items]	'
Schedule of Amount at Risk under Credit Facility	'
	The following table shows information about the amount at risk under this facility (dollars in thousands):
		Amount at				Weighted		Weighted
		Risk (1)				Average		Average
						Maturity in Days		Interest Rate
	September 30, 2013:
	Wells Fargo Bank, National Association.(2)	$	11,195			18		1.3	%
	December 31, 2012:
	Wells Fargo Bank, National Association.(2)	$	10,722			18		1.53	%
	-1	Equal to the estimated fair value of securities or loans sold, plus accrued interest income, minus the sum of repurchase agreement liabilities plus accrued interest expense.
	-2	$9.3 million and $12.2 million of linked repurchase agreement borrowings are being included as derivative instruments as of September 30, 2013 and December 31, 2012, respectively.
Resource Capital Corp [Member] | CRE - Term Repurchase Facility [Member]	'
Debt Instrument [Line Items]	'
Schedule of Amount at Risk under Credit Facility	'
	The following table shows information about the amount at risk under the facility (dollars in thousands);
		Amount at				Weighted		Weighted
		Risk (1)				Average		Average
						Maturity in Days		Interest Rate
	September 30, 2013:
	Wells Fargo	$	66,619			18		2.61	%
	31-Dec-12
	Wells Fargo	$	26,332			18		2.88	%
	-1	Equal to the estimated fair value of securities or loans sold, plus accrued interest income, minus the sum of repurchase agreement liabilities plus accrued interest expense.
Resource Capital Corp [Member] | Repurchase Agreements [Member] | JP Morgan Securities, LLC [Member]	'
Debt Instrument [Line Items]	'
Schedule of Amount at Risk under Credit Facility	'
	The following table shows information about the amount at risk under this facility (dollars in thousands);
		Amount at				Weighted		Weighted
		Risk (1)				Average		Average
						Maturity in Days		Interest Rate
	September 30, 2013:
	JP Morgan Securities, LLC (2)	$	9,696			30		0.98	%
	December 31, 2012:
	JP Morgan Securities, LLC (2)	$	2,544			11		1.01	%
	-1	Equal to the estimated fair value of securities or loans sold, plus accrued interest income, minus the sum of repurchase agreement liabilities plus accrued interest expense.
	-2	$17.8 million and $4.7 million linked repurchase agreement borrowings are being included as derivative instruments as of September 30, 2013 and December 31, 2012.
Resource Capital Corp [Member] | Repurchase Agreements [Member] | Wells Fargo Securities, LLC [Member]	'
Debt Instrument [Line Items]	'
Schedule of Amount at Risk under Credit Facility	'
	The following table shows information about the amount at risk under this facility (dollars in thousands);
		Amount at				Weighted		Weighted
		Risk (1)				Average		Average
						Maturity in Days		Interest Rate
	September 30, 2013:
	Wells Fargo Securities, LLC (2)	$	10,854			30		1.19	%
	December 31, 2012:
	Wells Fargo Securities, LLC (2)	$	1,956			28		1.46	%
	-1	Equal to the estimated fair value of securities or loans sold, plus accrued interest income, minus the sum of repurchase agreement liabilities plus accrued interest expense.
	-2	$21.5 million and $3.5 million of linked repurchase agreement borrowings are being included as derivative instruments as of September 30, 2013 and December 31, 2012.
Resource Capital Corp [Member] | Repurchase Agreements [Member] | Deutsche Bank Securities, Inc [Member]	'
Debt Instrument [Line Items]	'
Schedule of Amount at Risk under Credit Facility	'
	The following table shows information about the amount at risk under this facility (dollars in thousands);
		Amount at				Weighted		Weighted
		Risk (1)				Average		Average
						Maturity in Days		Interest Rate
	September 30, 2013:
	Deutsche Bank Securities, Inc.	$	9,276			19		1.45	%
	31-Dec-12
	Deutsche Bank Securities, Inc.	$	2,069			7		1.46	%
	-1	Equal to the estimated fair value of securities or loans sold, plus accrued interest income, minus the sum of repurchase agreement liabilities plus accrued interest expense.

NATURE_OF_OPERATIONS_Details

NATURE OF OPERATIONS (Details) (Resource Capital Corp [Member])	9 Months Ended
	Sep. 30, 2013
Resource Capital Corp [Member]	'
Variable Interest Entity [Line Items]	'
Percentage of Resource Capital common stock outstanding owned by Resource America	2.20%

RESTATEMENT_Narratives_Details

RESTATEMENT (Narratives) (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Net income (loss) attributable to common shareholders	$3,442,000	($2,267,000)	$5,051,000	$25,562,000
Restatement Adjustment Eliminations [Member]	'	'	'	'
Net income (loss) attributable to common shareholders	'	-528,000	'	-1,500,000
Restatement Adjustment [Member]	'	'	'	'
Net income (loss) attributable to common shareholders	'	$539,000	'	$1,500,000

RESTATEMENT_Restatement_Balanc

RESTATEMENT (Restatement - Balance Sheets) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012	Dec. 31, 2011
ASSETS	'	'	'	'
Cash and cash equivalents	$19,439,000	$11,899,000	$19,393,000	$12,803,000
Receivables from managed entities and related parties, net	30,288,000	30,618,000	'	'
Investments in real estate, net	17,128,000	18,041,000	'	'
Investment securities, at fair value	9,758,000	10,576,000	'	'
Investments In Affiliates Subsidiaries Associates And Joint Ventures Excluding Advances	13,899,000	13,156,000	'	'
Assets of consolidated variable interest entity (VIE) - RSO:	'	'	'	'
Investment securities, at fair value	9,758,000	10,576,000	'	'
Total assets of consolidated VIE - RSO	2,271,468,000	2,476,557,000	'	'
Total assets	2,443,511,000	2,636,764,000	2,488,458,000	'
Liabilities:	'	'	'	'
Payables to managed entities and related parties	3,037,000	3,536,000	'	'
Borrowings	20,380,000	'	'	'
Liabilities of consolidated VIE - RSO:	'	'	'	'
Total liabilities of consolidated VIE - RSO	1,485,385,000	1,856,839,000	'	'
Liabilities	1,536,415,000	1,902,974,000	'	'
Commitments and contingencies	'	'	'	'
Equity:	'	'	'	'
Preferred stock	0	0	'	'
Common stock	299,000	295,000	'	'
Additional paid-in capital	288,238,000	286,048,000	'	'
Accumulated deficit	-26,420,000	-29,486,000	'	'
Treasury stock, at cost	-104,869,000	-103,472,000	'	'
Accumulated other comprehensive loss	-2,310,000	-2,197,000	'	'
Total stockholdersb equity	154,938,000	151,188,000	'	'
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	907,096,000	733,790,000	'	'
Liabilities and equity	2,443,511,000	2,636,764,000	'	'
As Previously Reported [Member]	'	'	'	'
ASSETS	'	'	'	'
Cash and cash equivalents	'	'	19,393,000	12,803,000
Assets of consolidated variable interest entity (VIE) - RSO:	'	'	'	'
Total assets of consolidated VIE - RSO	'	0	'	'
Total assets	'	190,330,000	'	'
Liabilities of consolidated VIE - RSO:	'	'	'	'
Liabilities	'	47,733,000	'	'
Equity:	'	'	'	'
Preferred stock	'	0	'	'
Common stock	'	295,000	'	'
Additional paid-in capital	'	286,048,000	'	'
Accumulated deficit	'	-27,137,000	'	'
Treasury stock, at cost	'	-103,472,000	'	'
Accumulated other comprehensive loss	'	-13,416,000	'	'
Total stockholdersb equity	'	142,318,000	'	'
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	'	142,597,000	'	'
Liabilities and equity	'	190,330,000	'	'
Restatement Adjustments - RSO [Member]	'	'	'	'
Assets of consolidated variable interest entity (VIE) - RSO:	'	'	'	'
Total assets of consolidated VIE - RSO	'	2,478,251,000	'	'
Total assets	'	2,478,251,000	'	'
Liabilities of consolidated VIE - RSO:	'	'	'	'
Total liabilities of consolidated VIE - RSO	'	1,864,906,000	'	'
Liabilities	'	1,864,906,000	'	'
Equity:	'	'	'	'
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	'	613,345,000	'	'
Liabilities and equity	'	2,478,251,000	'	'
Restatement Adjustment - Intercompany Elimination [Member]	'	'	'	'
Assets of consolidated variable interest entity (VIE) - RSO:	'	'	'	'
Total assets of consolidated VIE - RSO	'	-1,694,000	'	'
Total assets	'	-31,817,000	'	'
Liabilities of consolidated VIE - RSO:	'	'	'	'
Total liabilities of consolidated VIE - RSO	'	-8,067,000	'	'
Liabilities	'	-9,665,000	'	'
Equity:	'	'	'	'
Preferred stock	'	0	'	'
Common stock	'	0	'	'
Additional paid-in capital	'	0	'	'
Accumulated deficit	'	-2,349,000	'	'
Treasury stock, at cost	'	0	'	'
Accumulated other comprehensive loss	'	11,219,000	'	'
Total stockholdersb equity	'	8,870,000	'	'
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	'	-22,152,000	'	'
Liabilities and equity	'	-31,817,000	'	'
Consolidated Entity Excluding RSO [Member]	'	'	'	'
ASSETS	'	'	'	'
Cash and cash equivalents	19,439,000	11,899,000	'	'
Restricted cash	558,000	638,000	'	'
Receivables	3,348,000	468,000	'	'
Receivables from managed entities and related parties, net	30,288,000	30,618,000	'	'
Investments in real estate, net	17,128,000	18,041,000	'	'
Investment securities, at fair value	9,758,000	10,576,000	'	'
Investments in unconsolidated loan manager	37,345,000	37,221,000	'	'
Investments In Affiliates Subsidiaries Associates And Joint Ventures Excluding Advances	13,899,000	13,156,000	'	'
Assets of consolidated variable interest entity (VIE) - RSO:	'	'	'	'
Investment securities, at fair value	9,758,000	10,576,000	'	'
Property and equipment, net	4,955,000	2,590,000	'	'
Deferred tax assets, net	29,751,000	28,274,000	'	'
Other assets	5,574,000	6,726,000	'	'
Liabilities:	'	'	'	'
Accrued expenses and other liabilities	27,613,000	21,559,000	'	'
Payables to managed entities and related parties	3,037,000	3,536,000	'	'
Borrowings	20,380,000	21,040,000	'	'
Equity:	'	'	'	'
Accumulated other comprehensive loss	-2,310,000	-2,197,000	'	'
Noncontrolling interests	218,000	279,000	'	'
Consolidated Entity Excluding RSO [Member] | As Previously Reported [Member]	'	'	'	'
ASSETS	'	'	'	'
Cash and cash equivalents	'	11,899,000	19,393,000	12,803,000
Restricted cash	'	638,000	'	'
Receivables	'	468,000	'	'
Receivables from managed entities and related parties, net	'	38,685,000	'	'
Investments in real estate, net	'	18,041,000	'	'
Investment securities, at fair value	'	25,533,000	'	'
Investments in unconsolidated loan manager	'	37,221,000	'	'
Investments In Affiliates Subsidiaries Associates And Joint Ventures Excluding Advances	'	13,156,000	'	'
Assets of consolidated variable interest entity (VIE) - RSO:	'	'	'	'
Investment securities, at fair value	'	25,533,000	'	'
Property and equipment, net	'	2,590,000	'	'
Deferred tax assets, net	'	35,373,000	'	'
Other assets	'	6,726,000	'	'
Liabilities:	'	'	'	'
Accrued expenses and other liabilities	'	21,556,000	'	'
Payables to managed entities and related parties	'	3,567,000	'	'
Borrowings	'	22,610,000	'	'
Equity:	'	'	'	'
Noncontrolling interests	'	279,000	'	'
Consolidated Entity Excluding RSO [Member] | Restatement Adjustment - Intercompany Elimination [Member]	'	'	'	'
ASSETS	'	'	'	'
Cash and cash equivalents	'	0	'	'
Restricted cash	'	0	'	'
Receivables	'	0	'	'
Receivables from managed entities and related parties, net	'	-8,067,000	'	'
Investments in real estate, net	'	0	'	'
Investment securities, at fair value	'	-14,957,000	'	'
Investments in unconsolidated loan manager	'	0	'	'
Investments In Affiliates Subsidiaries Associates And Joint Ventures Excluding Advances	'	0	'	'
Assets of consolidated variable interest entity (VIE) - RSO:	'	'	'	'
Investment securities, at fair value	'	-14,957,000	'	'
Property and equipment, net	'	0	'	'
Deferred tax assets, net	'	-7,099,000	'	'
Other assets	'	0	'	'
Liabilities:	'	'	'	'
Accrued expenses and other liabilities	'	3,000	'	'
Payables to managed entities and related parties	'	-31,000	'	'
Borrowings	'	-1,570,000	'	'
VIE - RSO [Member]	'	'	'	'
ASSETS	'	'	'	'
Investment securities, at fair value	232,783,000	256,433,000	'	'
Assets of consolidated variable interest entity (VIE) - RSO:	'	'	'	'
Cash and cash equivalents (including restricted cash)	203,658,000	179,390,000	'	'
Investment securities, at fair value	232,783,000	256,433,000	'	'
Loans	1,644,587,000	1,849,428,000	'	'
Investments, at fair value	128,099,000	120,706,000	'	'
Other assets	62,341,000	70,600,000	'	'
Liabilities of consolidated VIE - RSO:	'	'	'	'
Borrowings	1,422,430,000	1,785,600,000	'	'
Other liabilities	62,955,000	71,239,000	'	'
Equity:	'	'	'	'
Noncontrolling interests	751,940,000	582,323,000	'	'
VIE - RSO [Member] | As Previously Reported [Member]	'	'	'	'
Equity:	'	'	'	'
Noncontrolling interests	'	0	'	'
VIE - RSO [Member] | Restatement Adjustments - RSO [Member]	'	'	'	'
ASSETS	'	'	'	'
Investment securities, at fair value	'	256,433,000	'	'
Assets of consolidated variable interest entity (VIE) - RSO:	'	'	'	'
Cash and cash equivalents (including restricted cash)	'	179,390,000	'	'
Investment securities, at fair value	'	256,433,000	'	'
Loans	'	1,850,998,000	'	'
Investments, at fair value	'	120,799,000	'	'
Other assets	'	70,631,000	'	'
Liabilities of consolidated VIE - RSO:	'	'	'	'
Borrowings	'	1,785,600,000	'	'
Other liabilities	'	79,306,000	'	'
Equity:	'	'	'	'
Noncontrolling interests	'	613,345,000	'	'
VIE - RSO [Member] | Restatement Adjustment - Intercompany Elimination [Member]	'	'	'	'
ASSETS	'	'	'	'
Investment securities, at fair value	'	0	'	'
Assets of consolidated variable interest entity (VIE) - RSO:	'	'	'	'
Cash and cash equivalents (including restricted cash)	'	0	'	'
Investment securities, at fair value	'	0	'	'
Loans	'	-1,570,000	'	'
Investments, at fair value	'	-93,000	'	'
Other assets	'	-31,000	'	'
Liabilities of consolidated VIE - RSO:	'	'	'	'
Borrowings	'	0	'	'
Other liabilities	'	-8,067,000	'	'
Equity:	'	'	'	'
Noncontrolling interests	'	($31,022,000)	'	'

RESTATEMENT_Restatement_Statem

RESTATEMENT (Restatement - Statement of Income) (Details) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Share data in Thousands, except Per Share data, unless otherwise specified

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2012

Dec. 31, 2011

Sep. 30, 2012

Jun. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2012

Dec. 31, 2011

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2012

Dec. 31, 2011

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2012

Dec. 31, 2011

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

As Previously Reported [Member]

As Previously Reported [Member]

As Previously Reported [Member]

As Previously Reported [Member]

As Previously Reported [Member]

Restatement Adjustments - RSO [Member]

Restatement Adjustments - RSO [Member]

Restatement Adjustment - Intercompany Elimination [Member]

Restatement Adjustment - Intercompany Elimination [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

Intersegment Eliminations [Member]

Intersegment Eliminations [Member]

Intersegment Eliminations [Member]

Intersegment Eliminations [Member]

Intersegment Eliminations [Member]

Intersegment Eliminations [Member]

Intersegment Eliminations [Member]

Intersegment Eliminations [Member]

Intersegment Eliminations [Member]

Intersegment Eliminations [Member]

Intersegment Eliminations [Member]

Intersegment Eliminations [Member]

As Previously Reported [Member]

As Previously Reported [Member]

As Previously Reported [Member]

As Previously Reported [Member]

Restatement Adjustments - RSO [Member]

Restatement Adjustment - Intercompany Elimination [Member]

Restatement Adjustment - Intercompany Elimination [Member]

As Previously Reported [Member]

As Previously Reported [Member]

As Previously Reported [Member]

As Previously Reported [Member]

Restatement Adjustments - RSO [Member]

Restatement Adjustments - RSO [Member]

Restatement Adjustment - Intercompany Elimination [Member]

Restatement Adjustment - Intercompany Elimination [Member]

As Previously Reported [Member]

As Previously Reported [Member]

As Previously Reported [Member]

As Previously Reported [Member]

Restatement Adjustments - RSO [Member]

Restatement Adjustments - RSO [Member]

Restatement Adjustment - Intercompany Elimination [Member]

Restatement Adjustment - Intercompany Elimination [Member]

REVENUES:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Real estate

'

'

'

'

'

'

'

'

'

'

'

'

'

$15,950,000

$11,292,000

$39,443,000

$31,929,000

$11,292,000

$8,666,000

$31,929,000

$40,595,000

'

'

'

$4,701,000

$2,446,000

$9,794,000

$9,169,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Financial fund management

'

'

'

'

'

'

'

'

'

'

'

'

'

8,502,000

6,083,000

15,234,000

15,378,000

6,083,000

6,579,000

15,378,000

21,957,000

'

'

'

450,000

2,508,000

720,000

4,902,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Commercial finance

'

'

'

'

'

'

'

'

'

'

'

'

'

-30,000

-167,000

-243,000

-1,535,000

-167,000

3,419,000

-1,535,000

1,884,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Revenues from consolidated VIE - RSO

43,025,000

47,889,000

119,837,000

123,696,000

17,208,000

18,664,000

45,772,000

'

64,436,000

35,669,000

90,657,000

-4,988,000

-12,733,000

24,422,000

17,208,000

54,434,000

45,772,000

'

'

'

'

'

'

'

23,786,000

35,669,000

76,011,000

90,657,000

0

0

0

0

35,669,000

90,657,000

0

'

-5,183,000

-4,988,000

-10,608,000

-12,733,000

0

0

0

0

0

0

-4,988,000

-12,733,000

COSTS AND EXPENSES:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Real estate

'

'

'

'

'

'

'

'

'

'

'

'

'

11,178,000

7,684,000

29,514,000

22,477,000

7,684,000

7,192,000

22,477,000

29,669,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Financial fund management

'

'

'

'

'

'

'

'

'

'

'

'

'

3,547,000

3,909,000

7,769,000

11,282,000

3,909,000

5,804,000

11,282,000

17,086,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Commercial finance

'

'

'

'

'

'

'

'

'

'

'

'

'

75,000

103,000

-99,000

451,000

103,000

1,963,000

451,000

2,414,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Restructuring expenses

'

'

'

365,000

'

'

'

'

'

'

'

'

'

0

0

0

365,000

'

0

365,000

365,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

General and administrative

2,505,000

2,530,000

6,807,000

7,564,000

'

'

'

'

'

'

'

'

'

2,505,000

2,530,000

6,807,000

7,564,000

2,530,000

2,896,000

7,564,000

10,460,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gain on sale of leases and loans

'

'

'

'

'

'

0

'

'

'

'

'

'

'

'

'

0

'

-37,000

0

-37,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Impairment charges

'

2,280,000

'

2,280,000

'

'

2,280,000

'

'

'

'

'

'

0

2,280,000

0

2,280,000

2,280,000

0

2,280,000

2,280,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Provision for credit losses

1,808,000

6,336,000

3,793,000

14,996,000

'

'

14,996,000

'

'

'

'

'

'

1,808,000

6,336,000

3,793,000

14,996,000

6,336,000

2,250,000

14,996,000

17,246,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Depreciation and amortization

413,000

529,000

1,318,000

1,592,000

'

'

'

'

'

'

'

'

'

413,000

529,000

1,318,000

1,592,000

529,000

2,061,000

1,592,000

3,653,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Operating Expenses

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15,554,000

13,230,000

43,110,000

39,752,000

'

'

'

'

13,230,000

39,752,000

'

0

'

'

'

'

'

'

'

'

'

'

'

'

Costs and expenses

30,219,000

31,651,000

82,034,000

88,170,000

23,371,000

22,129,000

61,007,000

'

83,136,000

13,230,000

39,752,000

-4,950,000

-12,589,000

19,526,000

23,371,000

49,102,000

61,007,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-4,861,000

-4,950,000

-10,178,000

-12,589,000

'

'

'

'

'

0

-4,950,000

-12,589,000

OPERATING INCOME

12,806,000

16,238,000

37,803,000

35,526,000

-6,163,000

-3,465,000

-15,235,000

'

-18,700,000

22,439,000

50,905,000

-38,000

-144,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

OTHER INCOME (EXPENSE):

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

(Loss) gain on deconsolidation and sale of subsidiaries

'

-140,000

'

54,542,000

'

'

54,542,000

'

'

'

'

'

'

0

-140,000

0

54,542,000

-140,000

8,749,000

54,542,000

63,291,000

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gain (loss) on the extinguishment of debt

'

'

'

'

'

'

0

'

'

'

'

'

'

'

'

'

0

'

-2,190,000

0

-2,190,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other-than-temporary impairment on investments

'

'

-214,000

-74,000

'

'

-74,000

'

'

'

'

'

'

0

0

-214,000

-74,000

'

0

-74,000

-74,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gain on sale of investment securities, net

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

'

58,000

5,000

63,000

0

'

-5,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest expense

-530,000

-544,000

-1,525,000

-1,767,000

'

'

'

'

'

'

'

'

'

-530,000

-544,000

-1,525,000

-1,767,000

-544,000

-2,974,000

-1,767,000

-4,741,000

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other income, net

16,897,000

63,000

17,231,000

5,571,000

'

'

'

'

'

'

'

'

'

128,000

29,000

400,000

6,000

557,000

559,000

1,544,000

2,103,000

0

-528,000

-1,538,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other income (expense), net

16,367,000

-621,000

15,492,000

58,272,000

-127,000

4,202,000

54,250,000

'

58,452,000

0

5,464,000

-494,000

-1,442,000

-402,000

-655,000

-1,339,000

52,707,000

'

'

'

'

'

'

'

16,607,000

0

16,607,000

5,464,000

'

'

'

'

'

5,464,000

'

0

162,000

34,000

224,000

101,000

'

'

'

'

'

0

34,000

101,000

Income from continuing operations before taxes

29,173,000

15,617,000

53,295,000

93,798,000

-6,290,000

737,000

39,015,000

'

39,752,000

22,439,000

56,369,000

-532,000

-1,586,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Income tax provision (benefit)

'

-5,000

-396,000

20,336,000

-3,984,000

154,000

13,358,000

'

13,512,000

3,979,000

6,978,000

0

0

1,261,000

-3,984,000

-396,000

13,358,000

'

'

'

'

'

'

'

722,000

3,979,000

4,221,000

6,978,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Income from continuing operations

27,190,000

15,622,000

49,470,000

73,462,000

-2,306,000

583,000

25,657,000

'

26,240,000

18,460,000

49,391,000

-532,000

-1,586,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loss from discontinued operations, net of tax

0

-8,000

-2,000

-38,000

-8,000

-20,000

-38,000

'

-58,000

0

0

0

0

'

'

-2,000

-38,000

'

'

-38,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net income

27,190,000

15,614,000

49,468,000

73,424,000

-2,314,000

563,000

25,619,000

28,496,000

26,182,000

18,460,000

49,391,000

-532,000

-1,586,000

'

'

49,468,000

73,424,000

'

'

25,619,000

'

'

'

-1,586,000

'

'

'

'

'

'

'

'

'

49,391,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net income (loss) attributable to noncontrolling interests

'

'

'

'

'

'

'

'

'

'

'

'

'

-40,000

36,000

-23,000

30,000

36,000

-378,000

30,000

-348,000

'

0

'

-23,708,000

-17,917,000

-44,394,000

-47,892,000

'

'

'

'

-17,917,000

-47,892,000

0

0

'

'

'

'

'

'

'

'

'

'

'

'

Net income (loss) attributable to common shareholders

3,442,000

-2,267,000

5,051,000

25,562,000

-2,278,000

185,000

25,649,000

'

25,834,000

543,000

1,499,000

-532,000

-1,586,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amounts attributable to common shareholders:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Income (loss) from continuing operations

3,442,000

-2,259,000

5,053,000

25,600,000

-2,270,000

205,000

25,687,000

'

25,892,000

543,000

1,499,000

-532,000

-1,586,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Discontinued operations

0

-8,000

-2,000

-38,000

-8,000

-20,000

-38,000

'

-58,000

0

0

0

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net income (loss) attributable to common shareholders

$3,442,000

($2,267,000)

$5,051,000

$25,562,000

($2,278,000)

$185,000

$25,649,000

'

$25,834,000

$543,000

$1,499,000

($532,000)

($1,586,000)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Basic earnings per share:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Continuing operations (in dollars per share)

$0.17

($0.11)

$0.25

$1.29

'

$0.01

$1.30

'

$1.31

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Discontinued operations (in dollars per share)

$0

$0

$0

$0

'

$0

$0

'

$0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net income (loss) (in dollars per share)

$0.17

($0.11)

$0.25

$1.29

'

$0.01

$1.30

'

$1.31

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average shares outstanding

20,342

20,102

20,255

19,786

'

19,641

19,786

'

19,740

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Diluted earnings per share:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Continuing operations (in dollars per share)

$0.16

($0.11)

$0.23

$1.23

'

$0.01

$1.23

'

$1.25

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Discontinued operations (in dollars per share)

$0

$0

$0

$0

'

$0

$0

'

$0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net income (loss) (in dollars per share)

$0.16

($0.11)

$0.23

$1.23

'

$0.01

$1.23

'

$1.25

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average shares outstanding

21,872

20,102

21,931

20,845

'

20,039

20,845

'

20,634

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

RESTATEMENT_Restatement_Statem1

RESTATEMENT (Restatement - Statement of Comprehensive Income) (Details) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2012

Dec. 31, 2011

Sep. 30, 2012

Jun. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2012

Dec. 31, 2011

Sep. 30, 2012

Jun. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2012

As Previously Reported [Member]

As Previously Reported [Member]

As Previously Reported [Member]

As Previously Reported [Member]

As Previously Reported [Member]

Restatement Adjustments - RSO [Member]

Restatement Adjustments - RSO [Member]

Restatement Adjustment - Intercompany Elimination [Member]

Restatement Adjustment - Intercompany Elimination [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

VIE - RSO [Member]

As Previously Reported [Member]

As Previously Reported [Member]

As Previously Reported [Member]

As Previously Reported [Member]

As Previously Reported [Member]

Restatement Adjustments - RSO [Member]

Restatement Adjustments - RSO [Member]

Restatement Adjustment - Intercompany Elimination [Member]

Restatement Adjustment - Intercompany Elimination [Member]

Restatement Adjustments - RSO [Member]

Restatement Adjustments - RSO [Member]

Restatement Adjustment - Intercompany Elimination [Member]

Restatement Adjustment - Intercompany Elimination [Member]

Net income

$27,190

$15,614

$49,468

$73,424

($2,314)

$563

$25,619

$28,496

$26,182

$18,460

$49,391

($532)

($1,586)

'

'

$49,468

$73,424

'

'

$25,619

'

'

'

'

'

($1,586)

'

'

'

'

'

$49,391

'

'

Unrealized gains (losses) on investment securities available-for-sale

'

'

'

'

'

'

'

'

'

'

'

'

'

-97

-42

-433

-74

845

985

378

518

1,363

'

0

-887

-452

1,723

6,820

11,644

15,216

6,820

15,216

0

0

Less: reclassification for losses realized, net of tax

'

'

'

'

'

'

'

'

'

'

'

'

'

0

-1

131

45

-1

0

45

46

45

0

0

0

0

'

'

'

'

'

'

'

'

Other comprehensive income (loss), available-for-sale securities adjustment, net of tax

'

'

'

'

'

'

'

'

'

'

'

'

'

-97

-43

-302

-29

844

985

423

564

1,408

0

0

-887

-452

'

'

'

'

'

'

'

'

Minimum pension liability adjustments, net of tax

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-289

'

-289

-289

0

-289

0

-289

0

0

'

'

'

'

'

'

'

'

'

'

Minimum pension liability - reclassification for losses realized, net of tax

'

'

'

'

'

'

'

'

'

'

'

'

'

52

74

179

168

74

47

167

140

214

0

0

0

1

'

'

'

'

'

'

'

'

Subtotal - Minimum pension liability

'

'

'

'

'

'

'

'

'

'

'

'

'

52

-215

179

-121

-215

47

-122

140

-75

0

0

0

1

'

'

'

'

'

'

'

'

Unrealized (losses) gains on hedging contracts, net of tax

'

'

'

'

'

'

'

'

'

'

'

'

'

3

15

10

123

15

-129

123

-21

-6

0

'

0

'

498

-2,625

2,480

-2,985

-2,625

-2,985

0

0

Deconsolidation of LEAF - unrealized loss on hedging contracts

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

'

0

0

255

0

255

255

0

'

0

'

'

'

'

'

'

'

'

'

Other comprehensive income (loss), derivatives, net of tax

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15

'

123

15

126

123

234

249

0

0

0

0

'

'

'

'

'

'

'

'

Subtotal - other comprehensive income

2,681

4,099

9,582

13,397

644

1,158

424

938

1,582

4,342

13,424

-887

-451

-42

-243

-113

-27

644

1,158

424

938

1,582

0

0

-887

-451

2,723

4,342

9,695

13,424

4,342

13,424

0

0

Reclassifications adjustment for losses included in net income

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

396

89

-4,728

1,023

89

1,023

0

0

Reclassification adjustments associated with unrealized losses from interest rate hedges included in net income

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

129

58

322

170

58

170

0

0

Comprehensive income (loss)

29,871

19,713

59,050

86,821

-1,670

1,721

26,043

29,434

27,764

22,802

62,815

-1,419

-2,037

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Comprehensive income attributable to noncontrolling interests

-26,471

-22,223

-54,112

-61,286

36

-427

30

-433

-397

-22,259

-61,316

0

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Comprehensive income (loss) attributable to common shareholders

$3,400

($2,510)

$4,938

$25,535

($1,634)

$1,294

$26,073

$29,001

$27,367

$543

$1,499

($1,419)

($2,037)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

RESTATEMENT_Restatement_Cash_F

RESTATEMENT (Restatement - Cash Flow) (Details) (USD $)	9 Months Ended		3 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended				12 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2011	Sep. 30, 2012	Sep. 30, 2012	Sep. 30, 2012	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2012	Sep. 30, 2012
			Scenario, Previously Reported Prior to Adjustments [Member]	Scenario, Previously Reported Prior to Adjustments [Member]	As Previously Reported [Member]	As Previously Reported [Member]	VIE - RSO [Member]	Consolidated Entity Excluding RSO [Member]	Consolidated Entity Excluding RSO [Member]	Consolidated Entity Excluding RSO [Member]	Consolidated Entity Excluding RSO [Member]
							Restatement Adjustments - RSO [Member]			As Previously Reported [Member]	As Previously Reported [Member]
Net income	$49,468,000	$73,424,000	$563,000	$26,182,000	$25,619,000	$26,182,000	$49,391,000	$49,468,000	$73,424,000	$25,619,000	'
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'	'	'	'	'	'	'	'	'	'
Depreciation and amortization	'	'	3,087,000	4,875,000	1,788,000	'	'	1,462,000	1,788,000	1,788,000	'
Other-than-temporary impairment on investments	214,000	74,000	0	74,000	74,000	'	'	214,000	74,000	74,000	74,000
Impairment charges	'	2,280,000	0	2,280,000	2,280,000	'	'	0	2,280,000	2,280,000	2,280,000
Provision for credit losses	3,793,000	14,996,000	2,250,000	17,246,000	14,996,000	'	'	3,793,000	14,996,000	14,996,000	17,246,000
Unrealized gain on trading securities	-774,000	-1,108,000	0	-1,108,000	-1,108,000	'	'	-774,000	-1,108,000	-1,108,000	'
Equity in earnings of unconsolidated entities	-2,528,000	-2,882,000	-557,000	-3,439,000	-2,882,000	'	'	-2,528,000	-2,882,000	-2,882,000	'
Distributions from unconsolidated entities	'	'	1,163,000	3,463,000	2,300,000	'	'	3,099,000	2,300,000	2,300,000	'
Gain on sale of leases and loans	'	'	-37,000	-37,000	0	'	'	'	0	0	-37,000
Gain on sale of loans and investment securities, net	'	'	-58,000	-972,000	-914,000	'	'	-4,551,000	-914,000	-914,000	'
Gain on sale of assets	'	'	0	-84,000	-84,000	'	'	-1,632,000	-84,000	-84,000	'
Gain on sale and deconsolidation of subsidiaries	'	-54,542,000	-8,749,000	-63,291,000	-54,542,000	'	'	0	-54,542,000	-54,542,000	-63,291,000
Loss on extinguishment of debt	'	'	2,190,000	2,190,000	0	'	'	'	0	0	2,190,000
Deferred income tax (benefit) provision	'	'	154,000	13,393,000	13,239,000	'	'	-254,000	13,239,000	13,239,000	'
Equity-based compensation issued	'	'	498,000	1,286,000	788,000	'	814,000	942,000	788,000	788,000	'
Equity-based compensation received	'	'	0	-153,000	-153,000	'	'	'	0	-153,000	'
Trading securities purchases and sales, net	'	'	0	-1,048,000	-1,048,000	'	'	6,445,000	-1,048,000	-1,048,000	'
Loss from discontinued operations	2,000	38,000	'	58,000	38,000	58,000	'	2,000	38,000	38,000	'
Changes in operating assets and liabilities	'	'	-1,412,000	-2,911,000	-1,479,000	'	'	1,465,000	-1,479,000	-1,479,000	'
Changes in cash attributable to operations of consolidated VIE- RSO	'	'	'	'	'	'	-66,749,000	'	'	'	'
Net cash provided by (used in) operating activities	18,736,000	-19,218,000	-908,000	-1,996,000	-1,088,000	'	-16,544,000	'	'	-1,088,000	'
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'	'	'	'	'	'	'	'	'	'
Capital expenditures	'	'	-106,000	-222,000	-116,000	'	'	-1,035,000	-116,000	-116,000	'
Payments received on real estate loans and real estate	'	'	1,550,000	1,726,000	176,000	'	'	2,049,000	176,000	176,000	'
Investments in real estate and unconsolidated real estate entities	'	'	-127,000	-1,608,000	-1,481,000	'	'	-2,058,000	-1,481,000	-1,481,000	'
Purchase of commercial finance assets	'	'	-18,483,000	-18,483,000	0	'	'	'	'	'	'
Principal payments received on leases and loans	'	'	9,031,000	9,043,000	12,000	'	'	8,000	12,000	12,000	'
Cash divested on deconsolidation of LEAF	'	'	-2,284,000	-2,284,000	0	'	'	'	'	'	'
Proceeds from sale of Apidos, net of transaction costs and cash divested on deconsolidation	'	'	0	17,860,000	17,860,000	'	'	0	17,860,000	17,860,000	'
Purchase of loans and investments	'	'	-600,000	-1,874,000	-1,274,000	'	-549,826,000	-2,024,000	-1,274,000	-1,274,000	'
Principal payments and proceeds from sales received by consolidated VIE - RSO	'	'	'	'	'	'	540,117,000	'	'	'	'
Proceeds from sale of loans and investments	'	'	207,000	262,000	55,000	'	'	0	55,000	55,000	'
Increase in restricted cash - consolidated VIE RSO	'	'	'	'	'	'	85,413,000	'	'	'	'
Other - consolidated VIE - RSO	'	'	'	'	'	'	3,592,000	'	'	'	'
Net cash provided by investing activities	206,967,000	94,571,000	-10,812,000	4,420,000	15,232,000	'	79,296,000	'	'	15,232,000	'
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'	'	'	'	'	'	'	'	'	'
Increase in borrowings	'	'	128,845,000	128,845,000	0	'	'	2,000,000	0	'	'
Principal payments on borrowings	'	'	-123,823,000	-129,416,000	-5,593,000	'	'	-2,354,000	-5,593,000	-5,593,000	'
Net repayments of debt by consolidated VIE - RSO	'	'	'	'	'	'	-128,019,000	'	'	'	'
Dividends paid	'	'	-569,000	-2,310,000	-1,741,000	'	-54,231,000	-1,194,000	-1,741,000	-1,741,000	'
Net proceeds from issuance of common stock by consolidated VIE - RSO	'	'	'	'	'	'	122,337,000	'	'	'	'
Proceeds from issuance of common stock	'	'	0	2,131,000	2,131,000	'	'	1,253,000	2,131,000	2,131,000	'
Repurchase of common stock	'	-1,385,000	-939,000	-2,324,000	-1,385,000	'	'	-1,601,000	-1,385,000	-1,385,000	'
Decrease in restricted cash	'	'	-633,000	-664,000	0	'	'	'	'	'	'
Preferred stock dividends paid by LEAF to RSO	'	'	-188,000	-188,000	0	'	'	'	'	'	'
Other	'	'	-2,250,000	-2,275,000	-56,000	'	-2,839,000	81,000	-56,000	-56,000	'
Net cash used in financing activities	-217,792,000	-67,853,000	443,000	-6,201,000	-6,644,000	'	-62,752,000	'	'	-6,644,000	'
CASH FLOWS FROM DISCONTINUED OPERATIONS:	'	'	'	'	'	'	'	'	'	'	'
Operating activities	-371,000	-910,000	-375,000	-1,285,000	-910,000	'	'	'	'	-910,000	'
Net cash used in discontinued operations	-371,000	-910,000	-375,000	-1,285,000	-910,000	'	'	'	'	-910,000	'
Increase in cash	7,540,000	6,590,000	-11,652,000	-5,062,000	6,590,000	'	'	'	'	6,590,000	'
Cash, beginning of year	11,899,000	12,803,000	24,455,000	24,455,000	12,803,000	'	'	11,899,000	'	12,803,000	'
Cash, end of period	$19,439,000	$19,393,000	$12,803,000	$19,393,000	$19,393,000	$19,393,000	'	$19,439,000	'	$19,393,000	$19,393,000

CONSOLIDATING_FINANCIAL_INFORM2

CONSOLIDATING FINANCIAL INFORMATION (Consolidated Balance Sheet) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012	Dec. 31, 2011
ASSETS	'	'	'	'
Cash and cash equivalents	$19,439,000	$11,899,000	$19,393,000	$12,803,000
Receivables from managed entities and related parties, net	30,288,000	30,618,000	'	'
Investments in real estate, net	17,128,000	18,041,000	'	'
Investment securities, at fair value	9,758,000	10,576,000	'	'
Investments In Affiliates Subsidiaries Associates And Joint Ventures Excluding Advances	13,899,000	13,156,000	'	'
Assets of consolidated variable interest entity (VIE) - RSO (see Note 19):	'	'	'	'
Total assets of consolidated VIE - RSO	2,271,468,000	2,476,557,000	'	'
Assets	2,443,511,000	2,636,764,000	2,488,458,000	'
Liabilities:	'	'	'	'
Payables to managed entities and related parties	3,037,000	3,536,000	'	'
Borrowings	20,380,000	'	'	'
Liabilities of consolidated VIE - RSO (see Note 19):	'	'	'	'
Total liabilities of consolidated VIE - RSO	1,485,385,000	1,856,839,000	'	'
Liabilities	1,536,415,000	1,902,974,000	'	'
Commitments and contingencies	'	'	'	'
Equity:	'	'	'	'
Preferred stock	0	0	'	'
Common stock	299,000	295,000	'	'
Additional paid-in capital	288,238,000	286,048,000	'	'
Accumulated deficit	-26,420,000	-29,486,000	'	'
Treasury stock, at cost	-104,869,000	-103,472,000	'	'
Accumulated other comprehensive loss	-2,310,000	-2,197,000	'	'
Total stockholdersb equity	154,938,000	151,188,000	'	'
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	907,096,000	733,790,000	'	'
Liabilities and equity	2,443,511,000	2,636,764,000	'	'
Consolidated Entity Excluding RSO [Member]	'	'	'	'
ASSETS	'	'	'	'
Cash and cash equivalents	19,439,000	11,899,000	'	'
Restricted cash	558,000	638,000	'	'
Receivables	3,348,000	468,000	'	'
Receivables from managed entities and related parties, net	30,288,000	30,618,000	'	'
Investments in real estate, net	17,128,000	18,041,000	'	'
Investment securities, at fair value	9,758,000	10,576,000	'	'
Investments in unconsolidated loan manager	37,345,000	37,221,000	'	'
Investments In Affiliates Subsidiaries Associates And Joint Ventures Excluding Advances	13,899,000	13,156,000	'	'
Assets of consolidated variable interest entity (VIE) - RSO (see Note 19):	'	'	'	'
Property and equipment, net	4,955,000	2,590,000	'	'
Deferred tax assets, net	29,751,000	28,274,000	'	'
Other assets	5,574,000	6,726,000	'	'
Liabilities:	'	'	'	'
Accrued expenses and other liabilities	27,613,000	21,559,000	'	'
Payables to managed entities and related parties	3,037,000	3,536,000	'	'
Borrowings	20,380,000	21,040,000	'	'
Equity:	'	'	'	'
Accumulated other comprehensive loss	-2,310,000	-2,197,000	'	'
Noncontrolling interests	218,000	279,000	'	'
VIE - RSO [Member]	'	'	'	'
ASSETS	'	'	'	'
Investment securities, at fair value	232,783,000	256,433,000	'	'
Assets of consolidated variable interest entity (VIE) - RSO (see Note 19):	'	'	'	'
Cash and cash equivalents (including restricted cash)	203,658,000	179,390,000	'	'
Loans	1,644,587,000	1,849,428,000	'	'
Investments, at fair value	128,099,000	120,706,000	'	'
Other assets	62,341,000	70,600,000	'	'
Liabilities of consolidated VIE - RSO (see Note 19):	'	'	'	'
Borrowings	1,422,430,000	1,785,600,000	'	'
Other liabilities	62,955,000	71,239,000	'	'
Equity:	'	'	'	'
Noncontrolling interests	751,940,000	582,323,000	'	'
Reportable Legal Entities [Member]	'	'	'	'
Liabilities of consolidated VIE - RSO (see Note 19):	'	'	'	'
Total liabilities of consolidated VIE - RSO	1,489,650,000	'	'	'
Equity:	'	'	'	'
Preferred stock	0	'	'	'
Common stock	299,000	'	'	'
Additional paid-in capital	288,238,000	'	'	'
Accumulated deficit	-23,009,000	'	'	'
Treasury stock, at cost	-104,869,000	'	'	'
Accumulated other comprehensive loss	-12,195,000	'	'	'
Total stockholdersb equity	148,464,000	'	'	'
Reportable Legal Entities [Member] | Consolidated Entity Excluding RSO [Member]	'	'	'	'
ASSETS	'	'	'	'
Cash and cash equivalents	19,439,000	11,899,000	'	'
Restricted cash	558,000	'	'	'
Receivables	3,444,000	'	'	'
Receivables from managed entities and related parties, net	34,457,000	'	'	'
Investments in real estate, net	17,128,000	'	'	'
Investment securities, at fair value	27,156,000	'	'	'
Investments in unconsolidated loan manager	37,345,000	'	'	'
Investments In Affiliates Subsidiaries Associates And Joint Ventures Excluding Advances	13,899,000	'	'	'
Assets of consolidated variable interest entity (VIE) - RSO (see Note 19):	'	'	'	'
Property and equipment, net	4,955,000	'	'	'
Deferred tax assets, net	37,353,000	'	'	'
Other assets	5,574,000	'	'	'
Assets	201,308,000	'	'	'
Liabilities:	'	'	'	'
Accrued expenses and other liabilities	27,613,000	'	'	'
Payables to managed entities and related parties	3,063,000	'	'	'
Borrowings	21,950,000	'	'	'
Liabilities of consolidated VIE - RSO (see Note 19):	'	'	'	'
Liabilities	52,626,000	'	'	'
Equity:	'	'	'	'
Noncontrolling interests	218,000	'	'	'
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	148,682,000	'	'	'
Liabilities and equity	201,308,000	'	'	'
Reportable Legal Entities [Member] | VIE - RSO [Member]	'	'	'	'
ASSETS	'	'	'	'
Investment securities, at fair value	232,783,000	'	'	'
Assets of consolidated variable interest entity (VIE) - RSO (see Note 19):	'	'	'	'
Cash and cash equivalents (including restricted cash)	203,658,000	'	'	'
Loans	1,646,157,000	'	'	'
Investments, at fair value	128,099,000	'	'	'
Other assets	62,367,000	'	'	'
Total assets of consolidated VIE - RSO	2,273,064,000	'	'	'
Assets	2,273,064,000	'	'	'
Liabilities of consolidated VIE - RSO (see Note 19):	'	'	'	'
Borrowings	1,422,430,000	'	'	'
Other liabilities	67,220,000	'	'	'
Liabilities	1,489,650,000	'	'	'
Equity:	'	'	'	'
Noncontrolling interests	783,414,000	'	'	'
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	783,414,000	'	'	'
Liabilities and equity	2,273,064,000	'	'	'
Consolidation, Eliminations [Member]	'	'	'	'
Assets of consolidated variable interest entity (VIE) - RSO (see Note 19):	'	'	'	'
Total assets of consolidated VIE - RSO	-1,596,000	'	'	'
Assets	-30,861,000	'	'	'
Liabilities of consolidated VIE - RSO (see Note 19):	'	'	'	'
Total liabilities of consolidated VIE - RSO	-4,265,000	'	'	'
Liabilities	-5,861,000	'	'	'
Equity:	'	'	'	'
Preferred stock	0	'	'	'
Common stock	0	'	'	'
Additional paid-in capital	0	'	'	'
Accumulated deficit	-3,411,000	'	'	'
Treasury stock, at cost	0	'	'	'
Accumulated other comprehensive loss	9,885,000	'	'	'
Total stockholdersb equity	6,474,000	'	'	'
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	-25,000,000	'	'	'
Liabilities and equity	-30,861,000	'	'	'
Consolidation, Eliminations [Member] | Consolidated Entity Excluding RSO [Member]	'	'	'	'
ASSETS	'	'	'	'
Cash and cash equivalents	0	'	'	'
Restricted cash	0	'	'	'
Receivables	-96,000	'	'	'
Receivables from managed entities and related parties, net	-4,169,000	'	'	'
Investments in real estate, net	0	'	'	'
Investment securities, at fair value	-17,398,000	'	'	'
Investments in unconsolidated loan manager	0	'	'	'
Investments In Affiliates Subsidiaries Associates And Joint Ventures Excluding Advances	0	'	'	'
Assets of consolidated variable interest entity (VIE) - RSO (see Note 19):	'	'	'	'
Property and equipment, net	0	'	'	'
Deferred tax assets, net	-7,602,000	'	'	'
Other assets	0	'	'	'
Liabilities:	'	'	'	'
Accrued expenses and other liabilities	0	'	'	'
Payables to managed entities and related parties	-26,000	'	'	'
Borrowings	-1,570,000	'	'	'
Equity:	'	'	'	'
Noncontrolling interests	0	'	'	'
Consolidation, Eliminations [Member] | VIE - RSO [Member]	'	'	'	'
ASSETS	'	'	'	'
Investment securities, at fair value	0	'	'	'
Assets of consolidated variable interest entity (VIE) - RSO (see Note 19):	'	'	'	'
Cash and cash equivalents (including restricted cash)	0	'	'	'
Loans	-1,570,000	'	'	'
Investments, at fair value	0	'	'	'
Other assets	-26,000	'	'	'
Liabilities of consolidated VIE - RSO (see Note 19):	'	'	'	'
Borrowings	0	'	'	'
Other liabilities	-4,265,000	'	'	'
Equity:	'	'	'	'
Noncontrolling interests	($31,474,000)	'	'	'

CONSOLIDATING_FINANCIAL_INFORM3

CONSOLIDATING FINANCIAL INFORMATION (Consolidated Statement of Income) (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
REVENUES:	'	'	'	'
Revenues	$43,025,000	$47,889,000	$119,837,000	$123,696,000
COSTS AND EXPENSES:	'	'	'	'
General and administrative	2,505,000	2,530,000	6,807,000	7,564,000
Provision for credit losses	1,808,000	6,336,000	3,793,000	14,996,000
Depreciation and amortization	413,000	529,000	1,318,000	1,592,000
Costs and expenses	30,219,000	31,651,000	82,034,000	88,170,000
OPERATING INCOME	12,806,000	16,238,000	37,803,000	35,526,000
OTHER INCOME (EXPENSE):	'	'	'	'
Other-than-temporary impairment on investments	'	'	-214,000	-74,000
Interest Expense	-530,000	-544,000	-1,525,000	-1,767,000
Other income, net	16,897,000	63,000	17,231,000	5,571,000
Other income (expense), net	16,367,000	-621,000	15,492,000	58,272,000
Income from continuing operations before taxes	29,173,000	15,617,000	53,295,000	93,798,000
Income tax provision (benefit)	'	-5,000	-396,000	20,336,000
Income from continuing operations	27,190,000	15,622,000	49,470,000	73,462,000
Loss from discontinued operations, net of tax	0	-8,000	-2,000	-38,000
Net income	27,190,000	15,614,000	49,468,000	73,424,000
Net income (loss) attributable to common shareholders	3,442,000	-2,267,000	5,051,000	25,562,000
Intersegment Eliminations [Member]	'	'	'	'
REVENUES:	'	'	'	'
Revenues	-5,183,000	-4,988,000	-10,608,000	-12,733,000
COSTS AND EXPENSES:	'	'	'	'
Costs and expenses	-4,861,000	-4,950,000	-10,178,000	-12,589,000
OTHER INCOME (EXPENSE):	'	'	'	'
Other income (expense), net	162,000	34,000	224,000	101,000
Consolidated Entity Excluding RSO [Member]	'	'	'	'
REVENUES:	'	'	'	'
Real estate	15,950,000	11,292,000	39,443,000	31,929,000
Financial fund management	8,502,000	6,083,000	15,234,000	15,378,000
Commercial Finance Revenue	-30,000	-167,000	-243,000	-1,535,000
Revenues	24,422,000	17,208,000	54,434,000	45,772,000
COSTS AND EXPENSES:	'	'	'	'
Real estate	11,178,000	7,684,000	29,514,000	22,477,000
Cost Of Financial Fund Management	3,547,000	3,909,000	7,769,000	11,282,000
Cost Of Commercial Finance	75,000	103,000	-99,000	451,000
General and administrative	2,505,000	2,530,000	6,807,000	7,564,000
Provision for credit losses	1,808,000	6,336,000	3,793,000	14,996,000
Depreciation and amortization	413,000	529,000	1,318,000	1,592,000
Costs and expenses	19,526,000	23,371,000	49,102,000	61,007,000
OTHER INCOME (EXPENSE):	'	'	'	'
Other-than-temporary impairment on investments	0	0	-214,000	-74,000
Interest Expense	-530,000	-544,000	-1,525,000	-1,767,000
Other income, net	128,000	29,000	400,000	6,000
Other income (expense), net	-402,000	-655,000	-1,339,000	52,707,000
Income tax provision (benefit)	1,261,000	-3,984,000	-396,000	13,358,000
Loss from discontinued operations, net of tax	'	'	-2,000	-38,000
Net income	'	'	49,468,000	73,424,000
Net income attributable to noncontrolling interests	-40,000	36,000	-23,000	30,000
Consolidated Entity Excluding RSO [Member] | Reportable Legal Entities [Member]	'	'	'	'
REVENUES:	'	'	'	'
Real estate	15,950,000	'	39,443,000	'
Financial fund management	8,502,000	'	15,234,000	'
Commercial Finance Revenue	-30,000	'	-243,000	'
Revenues	24,422,000	'	54,434,000	'
COSTS AND EXPENSES:	'	'	'	'
Real estate	11,178,000	'	29,514,000	'
Cost Of Financial Fund Management	3,547,000	'	7,769,000	'
Cost Of Commercial Finance	75,000	'	-99,000	'
General and administrative	2,505,000	'	6,807,000	'
Provision for credit losses	1,808,000	'	3,793,000	'
Depreciation and amortization	413,000	'	1,318,000	'
Costs and expenses	19,526,000	'	49,102,000	'
OPERATING INCOME	4,896,000	'	5,332,000	'
OTHER INCOME (EXPENSE):	'	'	'	'
Other-than-temporary impairment on investments	'	'	-214,000	'
Interest Expense	-530,000	'	'	'
Other income, net	684,000	'	2,069,000	'
Other income (expense), net	154,000	'	330,000	'
Income from continuing operations before taxes	5,050,000	'	5,662,000	'
Income tax provision (benefit)	1,261,000	'	'	'
Income from continuing operations	'	'	6,058,000	'
Loss from discontinued operations, net of tax	'	'	-2,000	'
Net income	3,789,000	'	6,056,000	'
Net income attributable to noncontrolling interests	-40,000	'	-23,000	'
Net income (loss) attributable to common shareholders	3,749,000	'	6,033,000	'
VIE - RSO [Member]	'	'	'	'
REVENUES:	'	'	'	'
Real estate	4,701,000	2,446,000	9,794,000	9,169,000
Financial fund management	450,000	2,508,000	720,000	4,902,000
Revenues	23,786,000	35,669,000	76,011,000	90,657,000
COSTS AND EXPENSES:	'	'	'	'
Expense from consolidated VIE - RSO	15,554,000	13,230,000	43,110,000	39,752,000
OTHER INCOME (EXPENSE):	'	'	'	'
Other income (expense), net	16,607,000	0	16,607,000	5,464,000
Income tax provision (benefit)	722,000	3,979,000	4,221,000	6,978,000
Net income attributable to noncontrolling interests	-23,708,000	-17,917,000	-44,394,000	-47,892,000
VIE - RSO [Member] | Reportable Legal Entities [Member]	'	'	'	'
REVENUES:	'	'	'	'
Revenues	23,786,000	'	76,011,000	'
COSTS AND EXPENSES:	'	'	'	'
Expense from consolidated VIE - RSO	16,276,000	'	47,331,000	'
Costs and expenses	16,276,000	'	47,331,000	'
OPERATING INCOME	7,510,000	'	28,680,000	'
OTHER INCOME (EXPENSE):	'	'	'	'
Other income (expense), net	16,607,000	'	16,607,000	'
Income from continuing operations before taxes	24,117,000	'	45,287,000	'
Income from continuing operations	'	'	45,287,000	'
Loss from discontinued operations, net of tax	'	'	0	'
Net income	24,117,000	'	45,287,000	'
Net income attributable to noncontrolling interests	-1,996,000	'	-5,107,000	'
Net income (loss) attributable to common shareholders	22,121,000	'	40,180,000	'
Consolidation, Eliminations [Member]	'	'	'	'
REVENUES:	'	'	'	'
Revenues	-5,183,000	'	-10,608,000	'
COSTS AND EXPENSES:	'	'	'	'
Costs and expenses	-5,583,000	'	-14,399,000	'
OPERATING INCOME	400,000	'	3,791,000	'
OTHER INCOME (EXPENSE):	'	'	'	'
Other income (expense), net	-394,000	'	-1,445,000	'
Income from continuing operations before taxes	6,000	'	2,346,000	'
Income from continuing operations	'	'	-1,875,000	'
Loss from discontinued operations, net of tax	'	'	0	'
Net income	-716,000	'	-1,875,000	'
Net income (loss) attributable to common shareholders	-22,428,000	'	-41,162,000	'
Consolidation, Eliminations [Member] | Intersegment Eliminations [Member]	'	'	'	'
REVENUES:	'	'	'	'
Revenues	-5,183,000	'	-10,608,000	'
COSTS AND EXPENSES:	'	'	'	'
Costs and expenses	-4,861,000	'	-10,178,000	'
OTHER INCOME (EXPENSE):	'	'	'	'
Other income (expense), net	162,000	'	224,000	'
Consolidation, Eliminations [Member] | Consolidated Entity Excluding RSO [Member]	'	'	'	'
OTHER INCOME (EXPENSE):	'	'	'	'
Other income, net	-556,000	'	-1,669,000	'
Consolidation, Eliminations [Member] | VIE - RSO [Member]	'	'	'	'
COSTS AND EXPENSES:	'	'	'	'
Expense from consolidated VIE - RSO	-722,000	'	-4,221,000	'
OTHER INCOME (EXPENSE):	'	'	'	'
Income tax provision (benefit)	722,000	'	4,221,000	'
Net income attributable to noncontrolling interests	($21,712,000)	'	($39,287,000)	'

CONSOLIDATING_FINANCIAL_INFORM4

CONSOLIDATING FINANCIAL INFORMATION (Consolidating Detail - Cash Flow Statements) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	$49,468,000	$73,424,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Other-than-temporary impairment on investments	214,000	74,000
Interest expense	1,525,000	1,767,000
Provision for credit losses	3,793,000	14,996,000
Unrealized gain on trading securities	-774,000	-1,108,000
Other Income Expense	15,492,000	58,272,000
Equity in earnings of unconsolidated entities	-2,528,000	-2,882,000
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	53,295,000	93,798,000
Gain on sale and deconsolidation of subsidiaries	'	-54,542,000
Income tax provision (benefit)	-396,000	20,336,000
Loss from discontinued operations, net of tax	2,000	38,000
Net cash provided by (used in) operating activities	18,736,000	-19,218,000
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Net cash provided by investing activities	206,967,000	94,571,000
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Payments for Repurchase of Common Stock	'	-1,385,000
Net cash used in financing activities	-217,792,000	-67,853,000
Operating activities	-371,000	-910,000
Net cash used in discontinued operations	-371,000	-910,000
Increase in cash	7,540,000	6,590,000
Cash and cash equivalents	19,439,000	19,393,000
Consolidated Entity Excluding RSO [Member]	'	'
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	49,468,000	73,424,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Depreciation and amortization	1,462,000	1,788,000
Other-than-temporary impairment on investments	214,000	74,000
Interest expense	1,525,000	1,767,000
Provision for credit losses	3,793,000	14,996,000
Unrealized gain on trading securities	-774,000	-1,108,000
Other Income Expense	-1,339,000	52,707,000
Equity in earnings of unconsolidated entities	-2,528,000	-2,882,000
Distributions from unconsolidated entities	3,099,000	2,300,000
Gain on sale of assets	-1,632,000	-84,000
Gain on sale of investment securities, net	-4,551,000	-914,000
Gain on sale and deconsolidation of subsidiaries	0	-54,542,000
Income tax provision (benefit)	-396,000	13,358,000
Gain on the extinguishment of debt	'	0
Deferred income tax (benefit) provision	-254,000	13,239,000
Share-based Compensation	942,000	788,000
Trading securities purchases and sales, net	6,445,000	-1,048,000
Loss from discontinued operations, net of tax	2,000	38,000
Increase (Decrease) in Operating Capital	1,465,000	-1,479,000
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Payments to Acquire Property, Plant, and Equipment	-1,035,000	-116,000
Payments received on real estate loans and real estate	2,049,000	176,000
Investments In Unconsolidated Real Estate Entities	-2,058,000	-1,481,000
Principal payments received on leases and loans	8,000	12,000
Subtotal -purchase of loans and investment securities by consolidated VIE -RSO	-2,024,000	-1,274,000
Proceeds from sale of loans and investments	0	55,000
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Increase in borrowings	2,000,000	0
Repayments of Debt and Capital Lease Obligations	-2,354,000	-5,593,000
Proceeds from issuance of common stock	1,253,000	2,131,000
Distributions paid on common stock	-1,194,000	-1,741,000
Payments for Repurchase of Common Stock	-1,601,000	-1,385,000
Other	81,000	-56,000
Cash and cash equivalents	19,439,000	'
Consolidated Entity Excluding RSO [Member] | Reportable Legal Entities [Member]	'	'
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	6,056,000	'
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Depreciation and amortization	1,462,000	'
Other-than-temporary impairment on investments	214,000	'
Provision for credit losses	3,793,000	'
Unrealized gain on trading securities	-1,073,000	'
Other Income Expense	330,000	'
Equity in earnings of unconsolidated entities	-2,528,000	'
Distributions from unconsolidated entities	3,099,000	'
Gain on sale of assets	-1,632,000	'
Gain on sale of investment securities, net	-4,551,000	'
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	5,662,000	'
Deferred income tax (benefit) provision	-254,000	'
Equity-based compensation received	-654,000	'
Share-based Compensation	942,000	'
Trading securities purchases and sales, net	6,445,000	'
Loss from discontinued operations, net of tax	2,000	'
Increase (Decrease) in Operating Capital	1,465,000	'
Net cash provided by (used in) operating activities	12,786,000	'
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Payments to Acquire Property, Plant, and Equipment	-1,035,000	'
Payments received on real estate loans and real estate	2,049,000	'
Investments In Unconsolidated Real Estate Entities	-2,058,000	'
Principal payments received on leases and loans	8,000	'
Subtotal -purchase of loans and investment securities by consolidated VIE -RSO	-2,024,000	'
Proceeds from sale of loans and investments	0	'
Net cash provided by investing activities	-3,060,000	'
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Increase in borrowings	2,000,000	'
Repayments of Debt and Capital Lease Obligations	-2,354,000	'
Proceeds from issuance of common stock	1,253,000	'
Distributions paid on common stock	-1,194,000	'
Payments for Repurchase of Common Stock	-1,601,000	'
Other	81,000	'
Net cash used in financing activities	-1,815,000	'
Operating activities	-371,000	'
Net cash used in discontinued operations	-371,000	'
Increase in cash	7,540,000	'
Cash and cash equivalents	19,439,000	'
VIE - RSO [Member]	'	'
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Other Income Expense	16,607,000	5,464,000
Income tax provision (benefit)	4,221,000	6,978,000
Changes in cash attributable to operations of consolidated VIE- RSO	-38,415,000	-66,088,000
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Subtotal -purchase of loans and investment securities by consolidated VIE -RSO	-675,650,000	-549,826,000
Principal payments and proceeds from sales received by consolidated VIE - RSO	842,252,000	540,117,000
Increase in restricted cash - consolidated VIE RSO	30,079,000	85,413,000
Other - consolidated VIE - RSO	13,346,000	3,635,000
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Net repayments of debt by consolidated VIE - RSO	-320,834,000	-128,019,000
Distributions paid on common stock	'	-52,688,000
Dividends paid on common stock of consolidated VIE - RSO	-66,341,000	-52,688,000
Net proceeds from issuance of common stock by consolidated VIE - RSO	184,279,000	122,337,000
Other	-13,081,000	-2,839,000
VIE - RSO [Member] | Reportable Legal Entities [Member]	'	'
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	45,287,000	'
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Other Income Expense	16,607,000	'
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	45,287,000	'
Share-based Compensation	484,000	'
Loss from discontinued operations, net of tax	0	'
Changes in cash attributable to operations of consolidated VIE- RSO	-38,124,000	'
Net cash provided by (used in) operating activities	7,647,000	'
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Subtotal -purchase of loans and investment securities by consolidated VIE -RSO	-675,650,000	'
Principal payments and proceeds from sales received by consolidated VIE - RSO	842,252,000	'
Proceeds from sale of loans and investments	0	'
Increase in restricted cash - consolidated VIE RSO	30,079,000	'
Other - consolidated VIE - RSO	13,318,000	'
Net cash provided by investing activities	209,999,000	'
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Net repayments of debt by consolidated VIE - RSO	-320,834,000	'
Dividends paid on common stock of consolidated VIE - RSO	-68,010,000	'
Net proceeds from issuance of common stock by consolidated VIE - RSO	184,279,000	'
Other	-13,081,000	'
Net cash used in financing activities	-217,646,000	'
Consolidation, Eliminations [Member]	'	'
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	-1,875,000	'
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Other Income Expense	-1,445,000	'
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	2,346,000	'
Loss from discontinued operations, net of tax	0	'
Net cash provided by (used in) operating activities	-1,697,000	'
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Net cash provided by investing activities	28,000	'
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Net cash used in financing activities	1,669,000	'
Consolidation, Eliminations [Member] | Consolidated Entity Excluding RSO [Member]	'	'
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Unrealized gain on trading securities	299,000	'
Equity-based compensation received	654,000	'
Share-based Compensation	-484,000	'
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Cash and cash equivalents	0	'
Consolidation, Eliminations [Member] | VIE - RSO [Member]	'	'
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Income tax provision (benefit)	4,221,000	'
Changes in cash attributable to operations of consolidated VIE- RSO	-291,000	'
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Other - consolidated VIE - RSO	28,000	'
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Dividends paid on common stock of consolidated VIE - RSO	$1,669,000	'

SUPPLEMENTAL_CASH_FLOW_INFORMA2

SUPPLEMENTAL CASH FLOW INFORMATION (Supplemental Disclosure of Cash Flow information) (Details) (USD $)	9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Cash (paid) received:	'	'
Interest	($1,270)	($1,548)
Income tax payments	-933	-1,306
Refund of income taxes	100	109
Dividends declared per common share	$0.10	$0.09
Non-cash activities:	'	'
Repurchases of common stock from employees in exchange for the payment of income taxes and option exercises	68	1,709
Issuance of treasury stock for the Company's investment savings plan	273	413
Common stock issued to a former director in exchange for vested director units	0	135
Leasehold improvements paid by the landlord	1,496	0
Effects from the deconsolidation of Apidos Capital Management, LLC (Apidos) (1):	'	'
Receivables from managed entities	0	715
Investment in unconsolidated entities	0	-1,824
Other assets	0	20
Accrued expenses and other liabilities	$0	($938)

FINANCING_RECEIVABLES_Past_Due

FINANCING RECEIVABLES (Past Due Financing Receivables) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Aging of the Company's past due financing receivables, gross of allowances for credit losses	'	'
30-89 Days Past Due	$499,000	$830,000
Greater than 90 Days	922,000	754,000
Greater than 181 Days	60,367,000	57,279,000
Total Past Due	61,788,000	58,863,000
Current	4,328,000	4,427,000
Balance, end of period	66,116,000	63,290,000
Receivables from Managed Entities - Commercial Finance [Member]	'	'
Aging of the Company's past due financing receivables, gross of allowances for credit losses	'	'
30-89 Days Past Due	0	0
Greater than 90 Days	0	0
Greater than 181 Days	43,139,000	40,112,000
Total Past Due	43,139,000	40,112,000
Current	61,000	118,000
Balance, end of period	43,200,000	40,230,000
Specific Allowance	'	29,600,000
Real Estate Investment Entities [Member]	'	'
Aging of the Company's past due financing receivables, gross of allowances for credit losses	'	'
30-89 Days Past Due	447,000	779,000
Greater than 90 Days	842,000	744,000
Greater than 181 Days	17,201,000	17,062,000
Total Past Due	18,490,000	18,585,000
Current	3,360,000	1,992,000
Balance, end of period	21,850,000	20,577,000
Specific Allowance	'	2,500,000
Financial Fund Management Entities [Member]	'	'
Aging of the Company's past due financing receivables, gross of allowances for credit losses	'	'
30-89 Days Past Due	17,000	6,000
Greater than 90 Days	7,000	0
Greater than 181 Days	9,000	47,000
Total Past Due	33,000	53,000
Current	793,000	2,140,000
Balance, end of period	826,000	2,193,000
Specific Allowance	'	457,000
Other [Member]	'	'
Aging of the Company's past due financing receivables, gross of allowances for credit losses	'	'
30-89 Days Past Due	30,000	41,000
Greater than 90 Days	59,000	0
Greater than 181 Days	0	0
Total Past Due	89,000	41,000
Current	51,000	137,000
Balance, end of period	140,000	178,000
Receivables from Managed Entities and Related Parties [Member]	'	'
Aging of the Company's past due financing receivables, gross of allowances for credit losses	'	'
30-89 Days Past Due	494,000	826,000
Greater than 90 Days	908,000	744,000
Greater than 181 Days	60,349,000	57,221,000
Total Past Due	61,751,000	58,791,000
Current	4,265,000	4,387,000
Balance, end of period	66,016,000	63,178,000
Rent Receivables - Real Estate [Member]	'	'
Aging of the Company's past due financing receivables, gross of allowances for credit losses	'	'
30-89 Days Past Due	5,000	4,000
Greater than 90 Days	14,000	10,000
Greater than 181 Days	18,000	58,000
Total Past Due	37,000	72,000
Current	63,000	40,000
Balance, end of period	100,000	112,000
Financing receivables with a specific valuation allowance [Member] | Receivables from Managed Entities - Commercial Finance [Member]	'	'
Aging of the Company's past due financing receivables, gross of allowances for credit losses	'	'
Specific Allowance	35,728,000	29,586,000
Financing receivables with a specific valuation allowance [Member] | Real Estate Investment Entities [Member]	'	'
Aging of the Company's past due financing receivables, gross of allowances for credit losses	'	'
Specific Allowance	'	2,517,000
Financing receivables with a specific valuation allowance [Member] | Receivables from Managed Entities and Related Parties [Member]	'	'
Aging of the Company's past due financing receivables, gross of allowances for credit losses	'	'
Specific Allowance	0	'
Financing receivables with a specific valuation allowance [Member] | Rent Receivables - Real Estate [Member]	'	'
Aging of the Company's past due financing receivables, gross of allowances for credit losses	'	'
Specific Allowance	$32,000	$68,000

FINANCING_RECEIVABLES_Allowanc

FINANCING RECEIVABLES (Allowance for Credit Losses) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Activity in the allowance for credit losses of financing receivables [Roll Forward]	'	'	'	'	'
Balance, beginning of period	$34,616	$21,274	$32,628	$12,604	'
Provision for (reversal of) credit losses	1,808	6,336	3,793	14,996	'
Charge-offs	-682	'	-706	0	'
Recoveries	18	3	45	13	'
Balance, end of period	35,760	27,613	35,760	27,613	'
Ending balance, individually evaluated for impairment	35,728	27,580	35,728	27,580	'
Ending balance, collectively evaluated for impairment	32	33	32	33	'
Balance, end of period	35,760	27,613	35,760	27,613	'
Gross financing receivables related to the balance in the allowance for credit losses [Abstract]	'	'	'	'	'
Ending balance, individually evaluated for impairment	66,016	'	66,016	'	63,178
Ending balance, collectively evaluated for impairment	100	'	100	'	112
Balance, end of period	66,116	'	66,116	'	63,290
Receivables from Managed Entities [Member]	'	'	'	'	'
Activity in the allowance for credit losses of financing receivables [Roll Forward]	'	'	'	'	'
Balance, beginning of period	34,587	21,249	32,560	12,575	'
Provision for (reversal of) credit losses	1,810	6,331	3,817	15,005	'
Charge-offs	-669	'	-669	0	'
Recoveries	0	0	20	0	'
Balance, end of period	35,728	27,580	35,728	27,580	'
Ending balance, individually evaluated for impairment	35,728	27,580	35,728	27,580	'
Ending balance, collectively evaluated for impairment	0	0	0	0	'
Balance, end of period	35,728	27,580	35,728	27,580	'
Gross financing receivables related to the balance in the allowance for credit losses [Abstract]	'	'	'	'	'
Ending balance, individually evaluated for impairment	66,016	'	66,016	'	63,178
Ending balance, collectively evaluated for impairment	0	'	0	'	0
Balance, end of period	66,016	'	66,016	'	63,178
Leases and Loans [Member]	'	'	'	'	'
Activity in the allowance for credit losses of financing receivables [Roll Forward]	'	'	'	'	'
Balance, beginning of period	0	0	0	0	'
Provision for (reversal of) credit losses	-18	-3	-25	-13	'
Charge-offs	0	'	0	0	'
Recoveries	18	3	25	13	'
Balance, end of period	0	0	0	0	'
Ending balance, individually evaluated for impairment	0	0	0	0	'
Ending balance, collectively evaluated for impairment	0	0	0	0	'
Balance, end of period	0	0	0	0	'
Rent Receivables [Member]	'	'	'	'	'
Activity in the allowance for credit losses of financing receivables [Roll Forward]	'	'	'	'	'
Balance, beginning of period	29	25	68	29	'
Provision for (reversal of) credit losses	16	8	1	4	'
Charge-offs	-13	'	-37	0	'
Recoveries	0	0	0	0	'
Balance, end of period	32	33	32	33	'
Ending balance, individually evaluated for impairment	0	0	0	0	'
Ending balance, collectively evaluated for impairment	32	33	32	33	'
Balance, end of period	32	33	32	33	'
Gross financing receivables related to the balance in the allowance for credit losses [Abstract]	'	'	'	'	'
Ending balance, individually evaluated for impairment	0	'	0	'	0
Ending balance, collectively evaluated for impairment	100	'	100	'	112
Balance, end of period	$100	'	$100	'	$112

FINANCING_RECEIVABLES_Impaired

FINANCING RECEIVABLES (Impaired Financing Receivables) (Details) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Financing Receivables Without a Specific Valuation Allowance [Member]	'	'
Impaired financing receivables [Abstract]	'	'
Impaired financing receivables without a specific allowance	$0	$0
Receivables from Managed Entities - Commercial Finance [Member]	'	'
Impaired financing receivables [Abstract]	'	'
Specific Allowance	'	29,600,000
Receivables from Managed Entities - Commercial Finance [Member] | Financing receivables with a specific valuation allowance [Member]	'	'
Impaired financing receivables [Abstract]	'	'
Net Balance	3,170,000	8,633,000
Unpaid Balance	38,898,000	38,219,000
Specific Allowance	35,728,000	29,586,000
Average Investment in Impaired Assets	38,853,000	38,110,000
Receivables from Managed Entities - Real Estate [Member]	'	'
Impaired financing receivables [Abstract]	'	'
Specific Allowance	'	2,500,000
Receivables from Managed Entities - Real Estate [Member] | Financing receivables with a specific valuation allowance [Member]	'	'
Impaired financing receivables [Abstract]	'	'
Net Balance	'	2,291,000
Unpaid Balance	'	4,808,000
Specific Allowance	'	2,517,000
Average Investment in Impaired Assets	'	4,630,000
Receivables from managed entities financial fund management [Member] [Domain] | Financing receivables with a specific valuation allowance [Member]	'	'
Impaired financing receivables [Abstract]	'	'
Net Balance	'	848,000
Unpaid Balance	'	1,305,000
Specific Allowance	'	457,000
Average Investment in Impaired Assets	'	1,305,000
Rent Receivables - Real Estate [Member] | Financing receivables with a specific valuation allowance [Member]	'	'
Impaired financing receivables [Abstract]	'	'
Net Balance	0	0
Unpaid Balance	32,000	68,000
Specific Allowance	32,000	68,000
Average Investment in Impaired Assets	$46,000	$40,000

INVESTMENTS_IN_REAL_ESTATE_Inv

INVESTMENTS IN REAL ESTATE Investments in Real Estate (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Real Estate Properties [Line Items]	'	'
Investments in real estate, net	$17,128	$18,041
Hotel property	'	'
Real Estate Properties [Line Items]	'	'
Investments in real estate, net	10,668	11,107
Office Building [Member]	'	'
Real Estate Properties [Line Items]	'	'
Investments in real estate, net	795	1,058
Total Properties Owned [Member]	'	'
Real Estate Properties [Line Items]	'	'
Investments in real estate, net	11,463	12,165
Accumulated depreciation	8,373	7,972
Other Real Estate Holdings [Member]	'	'
Real Estate Properties [Line Items]	'	'
Investments in real estate, net	$5,665	$5,876

INVESTMENTS_IN_REAL_ESTATE_Ope

INVESTMENTS IN REAL ESTATE (Operating Leases) (Details) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified
Real Estate Investments, Net [Abstract]	'
2014	$966
2015	848
2016	594
2017	518
2018	492
Thereafter	662
Total	$4,080

INVESTMENT_SECURITIES_Narrativ

INVESTMENT SECURITIES (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Mar. 31, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Sep. 30, 2013
					Equity Securities [Member]	Equity Securities [Member]	CDO Securities [Member]	CDO Securities [Member]	CDO Securities [Member]	CDO Securities [Member]
					Resource Real Estate Diversified Income Fund [Member]	The Bancorp, Inc. [Member]	Issuer		Issuer	Apidos CLO II [Member]
CDO securities [Abstract]	'	'	'	'	'	'	'	'	'	'
Number of CDO issuers that represent the retained equity interest	'	'	'	'	'	'	8	'	5	'
Minimum investment requirement	'	'	'	'	'	'	'	'	'	$2,000,000
Equity Securities [Abstract]	'	'	'	'	'	'	'	'	'	'
Number of shares held (in shares)	'	'	'	'	10,000	18,972	'	'	'	'
Payments to Acquire Investments	'	'	'	'	100,000	'	'	'	'	'
Trading Securities [Abstract]	'	'	'	'	'	'	'	'	'	'
Realized gain on trading securities	2,800,000	'	4,600,000	'	'	'	'	'	'	'
Unrealized gain on trading securities	289,000	933,000	774,000	1,108,000	'	'	'	'	'	'
Other-than-Temporary Impairment Losses [Abstract]	'	'	'	'	'	'	'	'	'	'
Other-than-temporary impairment on investments	'	'	$214,000	$74,000	'	'	$214,000	$74,000	'	'

INVESTMENT_SECURITIES_Componen

INVESTMENT SECURITIES (Components of Investment Securities) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Investments, Debt and Equity Securities [Abstract]	'	'
Available-for-sale securities	$6,086	$5,211
Trading securities	3,672	5,365
Total investment securities, at fair value	$9,758	$10,576

INVESTMENT_SECURITIES_Pretax_U

INVESTMENT SECURITIES (Pre-tax Unrealized Gains (Losses) Relating to Investments in Available-for-Sale Securities) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'	'
Cost or Amortized Cost	$5,178	$3,821
Unrealized Gains	1,227	1,390
Unrealized Losses	-319	0
Fair Value	6,086	5,211
CDO Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Cost or Amortized Cost	4,970	3,712
Unrealized Gains	1,000	1,290
Unrealized Losses	-313	0
Fair Value	5,657	5,002
Equity Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Cost or Amortized Cost	208	109
Unrealized Gains	227	100
Unrealized Losses	-6	0
Fair Value	$429	$209

INVESTMENT_SECURITIES_Availabl

INVESTMENT SECURITIES (Available-for-sale Securities, Continuous Unrealized Loss Position) (Details) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified	Security
Less than 12 Months [Abstract]	'
Fair Value	$2,383
Unrealized Losses	-319
Number of Securities	4
More than 12 Months [Abstract]	'
Fair Value	0
Unrealized Losses	0
Number of Securities	0
CDO Securities [Member]	'
Less than 12 Months [Abstract]	'
Fair Value	2,289
Unrealized Losses	-313
Number of Securities	3
More than 12 Months [Abstract]	'
Fair Value	0
Unrealized Losses	0
Number of Securities	0
Equity Securities [Member]	'
Less than 12 Months [Abstract]	'
Fair Value	94
Unrealized Losses	-6
Number of Securities	1
More than 12 Months [Abstract]	'
Fair Value	0
Unrealized Losses	$0
Number of Securities	0

INVESTMENTS_IN_UNCONSOLIDATED_2

INVESTMENTS IN UNCONSOLIDATED ENTITIES AND LOAN MANAGER (Narrative) (Details) (USD $)	1 Months Ended					9 Months Ended		3 Months Ended	9 Months Ended
	Jan. 31, 2013	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012
				Resource Real Estate Opportunity REIT Inc [Member]	Parent [Member]	CVC Credit Partners, L.P. [Member]	Resource Real Estate Opportunity REIT Inc [Member]	Trapeza Entities [Member]	Trapeza Entities [Member]	Trapeza Entities [Member]
					General Partner [Member]	Parent [Member]		Partnership	Entity
						Limited Partner [Member]
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'	'	'	'	'	'
Ownership percentage (in hundredths)	10.00%	'	'	'	'	'	'	'	'	'
Proceeds from sale of ownership interest in real estate joint venture	$3,000,000	'	'	'	'	'	'	'	'	'
Gain on sale of investments	1,600,000	'	'	'	'	'	'	'	'	'
Number of entities owned by entity and co-managing partner	'	'	'	'	'	'	'	'	2	'
Number of partnerships dissolved	'	'	'	'	'	'	'	2	'	'
Settlement of clawback liability	'	'	'	'	'	'	'	1,100,000	'	'
Trapeza clawback (see Note 17)	'	0	1,181,000	'	'	'	'	'	'	1,200,000
Cost-method investments, book value	'	$6,800,000	'	$2,500,000	'	'	'	'	'	'
Ownership interest, cost method (less than 1%)	'	'	'	'	'	'	1.00%	'	'	'
Percentage interest in limited partnership formed	'	'	'	'	'	33.00%	'	'	'	'
Preferred equity interest retained as a percentage of incentive management fees	'	'	'	'	75.00%	'	'	'	'	'

INVESTMENTS_IN_UNCONSOLIDATED_3

INVESTMENTS IN UNCONSOLIDATED ENTITIES AND LOAN MANAGER (Investment Vehicles, Including the Range of Interests it Owns) (Details) (USD $)	Sep. 30, 2013	Jan. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Schedule of Equity Method Investments [Line Items]	'	'	'
Range of ownership interests owned	'	10.00%	'
Investments in unconsolidated entities	$13,899	'	$13,156
Real Estate Investment Entities [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Investments in unconsolidated entities	8,348	'	8,397
Real Estate Investment Entities [Member] | Minimum [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Range of ownership interests owned	1.00%	'	'
Real Estate Investment Entities [Member] | Maximum [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Range of ownership interests owned	12.00%	'	'
Financial Fund Management Partnerships [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Investments in unconsolidated entities	4,653	'	3,847
Financial Fund Management Partnerships [Member] | Minimum [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Range of ownership interests owned	3.00%	'	'
Financial Fund Management Partnerships [Member] | Maximum [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Range of ownership interests owned	50.00%	'	'
Trapeza Entities [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Investments in unconsolidated entities	$898	'	$912
Trapeza Entities [Member] | Minimum [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Range of ownership interests owned	33.00%	'	'
Trapeza Entities [Member] | Maximum [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Range of ownership interests owned	50.00%	'	'

INVESTMENTS_IN_UNCONSOLIDATED_4

INVESTMENTS IN UNCONSOLIDATED ENTITIES AND LOAN MANAGER Summarized operating data (Details) (USD $)	3 Months Ended		9 Months Ended		3 Months Ended		6 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2012	Sep. 30, 2013
					CVC Credit Partners [Member]	CVC Credit Partners [Member]	CVC Credit Partners [Member]	CVC Credit Partners [Member]
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'	'	'	'
Management fee revenues	'	'	'	'	$10,413	$6,781	$11,886	$34,502
Costs and expenses	'	'	'	'	-8,618	-5,641	-10,163	-32,388
Net income	'	'	'	'	1,795	1,140	1,723	2,114
Portion of net income attributable to the Company	$1,384	$2,938	$2,528	$2,882	$593	$376	$568	$698

ACCRUED_EXPENSES_AND_OTHER_LIA2

ACCRUED EXPENSES AND OTHER LIABILITIES (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Payables and Accruals [Abstract]	'	'
Accounts payable and other accrued liabilities	$14,526	$8,773
SERP liability (see Note 14)	6,273	6,806
Accrued wages and benefits	4,284	4,428
Due to broker	2,530	0
Trapeza clawback (see Note 17)	0	1,181
Real estate loan commitment	0	371
Total accrued expenses and other liabilities	$27,613	$21,559

BORROWINGS_Schedule_of_Debt_De

BORROWINGS (Schedule of Debt) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012
Debt Instrument [Line Items]	'	'	'
Borrowings Outstanding	$20,380,000	'	'
TD Bank, NA, Secured Revolving Credit Facility [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Maximum Amount of Facility	6,997,000	'	'
Borrowings Outstanding	0	0	0
Outstanding letters of credit	503,000	503,000	'
Republic Bank Secured Revolving Credit Facility [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Maximum Amount of Facility	3,500,000	'	'
Borrowings Outstanding	0	0	0
Corporate Borrowing [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Borrowings Outstanding	0	0	'
Senior Notes [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Borrowings Outstanding	10,000,000	10,000,000	'
Mortgage Debt [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Borrowings Outstanding	10,335,000	10,473,000	'
Other Debt [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Borrowings Outstanding	45,000	567,000	'
Corporate and real estate borrowings [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Borrowings Outstanding	20,380,000	21,040,000	'
Letter of Credit [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Outstanding letters of credit	$503,000	'	'

BORROWINGS_Credit_Facilities_D

BORROWINGS (Credit Facilities) (Details) (USD $)

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2012

Sep. 30, 2013

Nov. 18, 2013

TD Bank, NA, Secured Revolving Credit Facility [Member]

TD Bank, NA, Secured Revolving Credit Facility [Member]

TD Bank, NA, Secured Revolving Credit Facility [Member]

TD Bank, NA, Secured Revolving Credit Facility [Member]

TD Bank, NA, Secured Revolving Credit Facility [Member]

TD Bank, NA, Secured Revolving Credit Facility [Member]

TD Bank, NA, Secured Revolving Credit Facility [Member]

Republic Bank Secured Revolving Credit Facility [Member]

Republic Bank Secured Revolving Credit Facility [Member]

Republic Bank Secured Revolving Credit Facility [Member]

Republic Bank Secured Revolving Credit Facility [Member]

Subsequent Event [Member]

Minimum [Member]

Maximum [Member]

The Bancorp, Inc. [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Republic Bank Secured Revolving Credit Facility [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Expiration date

'

31-Dec-14

'

'

'

'

'

'

28-Dec-14

'

'

'

'

Prime rate basis spread on variable rate (in hundredths)

'

2.25%

'

'

'

'

'

'

1.00%

'

'

'

'

Description of variable rate basis

'

'LIBOR

'

'

'

'

'

'

'

'

'

'

'

Basis spread on variable rate (in hundredths)

'

3.00%

'

'

'

'

'

'

'

'

'

'

'

LIBOR borrowings floor interest rate (in hundredths)

'

6.00%

'

'

'

'

'

'

'

'

'

'

'

Variable rate basis, term

'

'

'

'

'1 month

'6 months

'

'

'

'

'

'

'

Unused facility fee (in hundredths)

'

0.50%

'

'

'

'

'

'

0.25%

'

'

'

0.50%

Line of credit facility commitment fee percentage on outstanding lines of credit (in hundredths)

'

5.25%

'

'

'

'

'

'

'

'

'

'

'

Outstanding letters of credit

'

$503,000

'

$503,000

'

'

'

'

'

'

'

'

'

Number of securities pledged (in shares)

'

'

'

'

'

'

18,972

2,080,482

'

'

'

700,000

'

Availability under the facility specified as a percentage of net present value of future management fees to be earned (in hundredths)

'

75.00%

'

'

'

'

'

'

'

'

'

'

'

Borrowings outstanding

20,380,000

0

0

0

'

'

'

'

0

0

0

'

'

Availability on the line of credit facility

'

7,000,000

'

'

'

'

'

'

3,500,000

'

'

'

'

Debt weighted average borrowing

'

198,000

3,100,000

'

'

'

'

'

'

'

'

'

'

Weighted average borrowing rate (in hundredths)

'

2.40%

6.00%

'

'

'

'

'

'

'

'

'

'

Maximum borrowing capacity

'

'

'

'

'

'

'

'

$3,500,000

'

'

'

'

Prime borrowings floor interest rate

'

'

'

'

'

'

'

'

4.50%

'

'

'

'

Percentage of appraised value of the real estate under maximum borrowing facility under option one

'

'

'

'

'

'

'

'

25.00%

'

'

'

'

Percentage of cash under maximum borrowing facility under option one

'

'

'

'

'

'

'

'

100.00%

'

'

'

'

Percentage of market value of securities pledged under maximum borrowing facility under option one

'

'

'

'

'

'

'

'

75.00%

'

'

'

'

Percentage of cash under maximum borrowing facility under option two

'

'

'

'

'

'

'

'

100.00%

'

'

'

'

Percentage of market value of securities pledged under maximum borrowing facility under option two

'

'

'

'

'

'

'

'

100.00%

'

'

'

'

BORROWINGS_Senior_Notes_Detail

BORROWINGS (Senior Notes) (Details) (Senior Notes [Member], USD $)	3 Months Ended		9 Months Ended			3 Months Ended	6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Sep. 30, 2013	Jun. 30, 2013
						Maximum [Member]	Maximum [Member]
Debt Instrument [Line Items]	'	'	'	'	'	'	'
Remaining balance	$10,000,000	'	$10,000,000	'	'	'	'
Interest rate (in hundredths)	9.00%	'	9.00%	'	'	'	'
Debt modification fee percentage	'	'	'	'	1.00%	'	'
Detachable warrants term	'	'	'5 years	'	'	'	'
Shares of common stock issued on warrants (in shares)	3,690,195	'	3,690,195	'	'	'	'
Class of Warrant or Right, Outstanding	3,444,607	'	3,444,607	'	'	'	'
Effective interest rate (in hundredths)	9.70%	9.30%	9.80%	9.30%	'	'	'
Dividends per share, declared or paid for future quarter (in dollars per share)	'	'	'	'	'	$0.04	$0.03

BORROWINGS_Debt_Repayments_Det

BORROWINGS (Debt Repayments) (Details) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified
Debt Disclosure [Abstract]	'
2014	$240
2015	10,208
2016	220
2017	237
2018	252
Thereafter	9,223
Total	$20,380

BORROWINGS_Covenants_Details

BORROWINGS (Covenants) (Details)	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Expiration of carveout over repayment term	'10 years

ACCUMULATED_OTHER_COMPREHENSIV2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended			12 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Sep. 30, 2012	Dec. 31, 2012
					LEAF Commercial Capital Inc [Member]	LEAF Commercial Capital Inc [Member]	LEAF Commercial Capital Inc [Member]	Commercial Finance Investment Entities [Member]	Commercial Finance Investment Entities [Member]
Derivative [Line Items]	'	'	'	'	'	'	'	'	'
Accumulated other comprehensive income (loss), net unrealized losses	'	'	'	'	$4	'	$10	'	$4
Accumulated other comprehensive income (loss), net unrealized losses, tax benefit	($57)	($27)	($263)	($45)	$2	$7	'	$2	'

ACCUMULATED_OTHER_COMPREHENSIV3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Changes in Accumulated Other Comprehensive Income (Loss) by Category) (Details) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Accumulated Net Unrealized Investment Gain (Loss) [Member]

Accumulated Net Unrealized Investment Gain (Loss) [Member]

Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]

Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]

Accumulated Defined Benefit Plans Adjustment [Member]

Accumulated Defined Benefit Plans Adjustment [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Consolidated Entity Excluding RSO [Member]

Accumulated Net Unrealized Investment Gain (Loss) [Member]

Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]

Accumulated Defined Benefit Plans Adjustment [Member]

Changes in Accumulated Other Comprehensive Income (Loss) by Category [Roll Forward]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total balance, beginning of the year

'

'

($2,197)

'

'

'

'

'

'

'

'

'

($2,197)

'

$847

($14)

($3,030)

Other comprehensive income before reclassifications

'

'

'

'

'

'

'

'

'

'

'

'

-423

'

-433

10

0

Amounts reclassified from accumulated other comprehensive income

'

'

'

'

'

'

'

'

'

'

'

'

310

'

131

0

179

Subtotal - other comprehensive income

2,681

4,099

9,582

13,397

'

'

'

'

'

'

-42

-243

-113

-27

-302

10

179

Total balance, end of the year

-2,310

'

-2,310

'

'

'

'

'

'

'

-2,310

'

-2,310

'

545

-4

-2,851

Accumulated other comprehensive loss, tax

'

'

'

'

$364

$544

($2)

($10)

($2,221)

($2,326)

'

'

'

'

'

'

'

EARNINGS_LOSS_PER_SHARE_Reconc

EARNINGS (LOSS) PER SHARE (Reconciliation) (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Reconciliation of the components used in the computation of Basic and Diluted EPS [Abstract]	'	'	'	'
Basic shares outstanding (in shares)	20,342,000	20,102,000	20,255,000	19,786,000
Dilutive effect of outstanding stock options, warrants and director units (in shares)	1,530,000	0	1,676,000	1,059,000
Dilutive shares outstanding (in shares)	21,872,000	20,102,000	21,931,000	20,845,000
Stock Option [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive shares	'	1,000,000	'	'
Weighted average exercise price of options	'	16.26	'	16.26
Warrant [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive shares	'	3,700,000	'	'
Weighted average exercise price of warrants	'	5.1	'	5.1

BENEFIT_PLANS_Components_of_Ne

BENEFIT PLANS (Components of Net Periodic Benefit Cost) (Details) (Supplemental Employee Retirement Plan [Member], USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Defined Benefit Plan Disclosure [Line Items]	'	'	'	'
Interest cost	$57	$85	$169	$245
Less: expected return on plan assets	-25	-17	-75	-52
Plus: Amortization of unrecognized loss	95	130	285	295
Net cost	127	198	379	488
Maximum [Member] | Chief Executive Officer [Member]	'	'	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'	'	'
Annual benefit payment	'	'	$838	'
Term of annual benefit payment	'	'	'10 years	'

CERTAIN_RELATIONSHIPS_AND_RELA2

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS (Receivables and Payables from Related Party) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
	Entity
Related Party Transaction [Line Items]	'	'
Receivables from managed entities and related parties	$30,288,000	$30,618,000
Payables to managed entities and related parties	3,037,000	3,536,000
Number of investment entities that are not expected to be collectible	3	'
Receivables from Managed Entities - Commercial Finance [Member]	'	'
Related Party Transaction [Line Items]	'	'
Specific Allowance	'	29,600,000
Real Estate Investment Entities [Member]	'	'
Related Party Transaction [Line Items]	'	'
Specific Allowance	'	2,500,000
Payable to real estate investment entities, self insurance	2,900,000	2,500,000
Financing receivables with a specific valuation allowance [Member] | Receivables from Managed Entities - Commercial Finance [Member]	'	'
Related Party Transaction [Line Items]	'	'
Specific Allowance	35,728,000	29,586,000
Financing receivables with a specific valuation allowance [Member] | Real Estate Investment Entities [Member]	'	'
Related Party Transaction [Line Items]	'	'
Specific Allowance	'	2,517,000
Real Estate Investment Entities [Member]	'	'
Related Party Transaction [Line Items]	'	'
Receivables from managed entities and related parties	21,850,000	18,060,000
Payables to managed entities and related parties	2,857,000	3,300,000
Commercial Finance Investment Entities [Member]	'	'
Related Party Transaction [Line Items]	'	'
Receivables from managed entities and related parties	7,472,000	10,644,000
Financial Fund Management Investment Entities [Member]	'	'
Related Party Transaction [Line Items]	'	'
Receivables from managed entities and related parties	826,000	1,736,000
Other [Member]	'	'
Related Party Transaction [Line Items]	'	'
Receivables from managed entities and related parties	140,000	178,000
Payables to managed entities and related parties	$180,000	$236,000

CERTAIN_RELATIONSHIPS_AND_RELA3

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS (Fees From Unconsolidated Investment Entities) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Commercial Finance, Four Investment Entities [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Amount waived of the fund management fees from commercial finance investment entities	$410	$883	$1,500	$3,200
Real Estate Investment Entities [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Fees from unconsolidated investment entities	6,726	4,439	16,273	13,533
Discounts recorded	56	31	169	140
Financial Fund Management Investment Entities [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Fees from unconsolidated investment entities	801	715	2,335	2,333
Commercial Finance Investment Entities [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Fees from unconsolidated investment entities	0	0	0	0
CVC Credit Partners, L.P. [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Reimbursement of costs and expenses	295	514	979	1,866
Resource Real Estate Opportunity REIT Inc [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Reimbursement of costs and expenses	204	89	605	769
Dividends paid	28	0	85	14
LEAF [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Reimbursement of costs and expenses	53	62	168	228
Payment for sub-servicing the commercial finance investment partnerships	-197	-476	-743	-1,767
Payment for rent and related expenses	-144	-189	-543	-566
1845 Walnut Associates Ltd. [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
1845 Walnut Associates Ltd. b payment of rent and operating expenses	-286	-168	-476	-531
Property Management Fee Revenue	32	0	149	0
Brandywine Construction & Management, Inc. (BCMI) [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Payments for Property Management	-54	-49	-167	-157
Atlas Energy, L.P. [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Reimbursement of costs and expenses	49	156	243	465
Ledgewood P.C. [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Ledgewood P.C. b payment for legal services	-76	-56	-180	-409
Graphic Images, LLC [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Graphic Images, LLC b payment for printing services	-20	-80	-59	-208
The Bancorp, Inc. [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Reimbursement of costs and expenses	29	29	85	90
9 Henmar LLC [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
9 Henmar, LLC b payment of broker/consulting fees	($4)	($4)	($24)	($28)

CERTAIN_RELATIONSHIPS_AND_RELA4

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS (Relationship with 1845 Walnut Associates) (Details) (1845 Walnut Associates Ltd. [Member], USD $)	1 Months Ended	3 Months Ended
In Millions, unless otherwise specified	Oct. 31, 2012	Sep. 30, 2013
		sqft
1845 Walnut Associates Ltd. [Member]	'	'
Related Party Transaction [Line Items]	'	'
Equity Interest, Ownership Percentage	'	7.00%
Term of lease	'10 years	'
Area of Real Estate Property	'	34,476
Payments for Tenant Improvements	'	$1.50

CERTAIN_RELATIONSHIPS_AND_RELA5

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS (Advances to Affiliated Real Estate Limited Partnership) (Details) (Affiliated Real Estate Limited Partnership [Member], USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Affiliated Real Estate Limited Partnership [Member]	'	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'	'
Maximum revolving note, related party	$3,000,000	'	$3,000,000	'	'
Interest rate description	'	'	'bearing interest at the prime rate	'	'
Notes receivable, related party	2,600,000	'	2,600,000	'	2,500,000
Other revenues from transactions with related party	$17,000	$4,000	$53,000	$40,000	'

FAIR_VALUE_Narrative_Details

FAIR VALUE (Narrative) (Details) (USD $)	9 Months Ended					9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
	Security	Non-recurring Basis [Member]	Non-recurring Basis [Member]	Minimum [Member]	Maximum [Member]	Discount Net Asset Value Approach (DAV) Valuation Technique [Member]	Discount Net Asset Value Approach (DAV) Valuation Technique [Member]	Discount Net Asset Value Approach (DAV) Valuation Technique [Member]
							Minimum [Member]	Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'	'	'	'
Past due receivable, days outstanding to fully reserve balance	'180 days	'	'	'	'	'	'	'
Estimated recovery percentage (in hundredths)	'	'	'	8.70%	12.50%	'	'	'
Number of investment securities security redeemed at par subsequent to reporting period end	1	'	'	'	'	'	'	'
Number of securities holds cash as its sole remaining asset	1	'	'	'	'	'	'	'
Number of securities that are valued using a discounted net asset value (bNAVb) approach	2	'	'	'	'	'	'	'
Discount rates (in hundredths)	'	'	'	'	'	'	5.00%	8.00%
Discount rate applied to securities for which the liquidation is particularly more complicated	'	'	'	'	'	15.00%	'	'
Investment in CVC Credit Partners	'	'	$28,600	'	'	'	'	'
Fair value of the Company's investment in the preferred shares	'	'	6,792	'	'	'	'	'
Future incentive management fees	'	$994	$589	'	'	'	'	'

FAIR_VALUE_Assets_and_Liabilit

FAIR VALUE (Assets and Liabilities Recorded at Fair Value on Recurring Basis) (Details) (Recurring Basis [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Asset:	'	'
Investment securities	$9,758	$10,576
Level 1 [Member]	'	'
Asset:	'	'
Investment securities	429	209
Level 2 [Member]	'	'
Asset:	'	'
Investment securities	0	0
Level 3 [Member]	'	'
Asset:	'	'
Investment securities	$9,329	$10,367

FAIR_VALUE_Additional_Informat

FAIR VALUE (Additional Information About Assets Which Were Measured at Fair Value on a Recurring Basis Utilizing Level 3 Inputs) (Details) (Investment Securities [Member], Recurring Basis [Member], Level 3 [Member], USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Investment Securities [Member] | Recurring Basis [Member] | Level 3 [Member]	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'
Balance, beginning of year	$10,367	$2,981
Purchases	9,832	11,578
Income accreted	662	853
Payments and distributions received	-10,383	-3,201
Impairment recognized in earnings	-214	-74
Sales	-5,655	-4,159
Gain on sales of trading securities	4,551	1,216
Unrealized holding gain on trading securities	773	1,272
Change in unrealized losses b included in accumulated other comprehensive loss	-604	-99
Balance, end of period	$9,329	$10,367

FAIR_VALUE_Quantitative_Inputs

FAIR VALUE (Quantitative Inputs and Assumptions Used in Determining the Fair Value of Items Categorized in Level 3) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale securities, fair value	$6,086	$5,211
Investment securities, trading	3,672	5,365
Collateralized Debt Obligations [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Available-for-sale securities, fair value	5,657	5,002
Loss severity rate (in hundredths)	25.00%	'
Trading Account Assets [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Investment securities, trading	$3,672	'
Prepayment Year One [Member] | Collateralized Debt Obligations [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Constant prepayment rate (in hundredths)	30.00%	'
Prepayment Year Two [Member] | Collateralized Debt Obligations [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Constant prepayment rate (in hundredths)	25.00%	'
Prepayment Thereafter [Member] | Collateralized Debt Obligations [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Constant prepayment rate (in hundredths)	25.00%	'
Minimum [Member] | Collateralized Debt Obligations [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Constant default rate (in hundredths)	0.00%	'
Reinvestment price on collateral (in hundredths)	99.75%	'
Discount rates (in hundredths)	13.50%	'
Minimum [Member] | Trading Account Assets [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Discount rates (in hundredths)	5.00%	'
Maximum [Member] | Collateralized Debt Obligations [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Constant default rate (in hundredths)	2.00%	'
Reinvestment price on collateral (in hundredths)	100.00%	'
Discount rates (in hundredths)	20.00%	'
Maximum [Member] | Trading Account Assets [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Discount rates (in hundredths)	15.00%	'

FAIR_VALUE_Changes_in_Carrying

FAIR VALUE (Changes in Carrying Value of Assets and Liabilities Measured at Fair Value on a Non-recurring Basis) (Details) (Non-recurring Basis [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Assets:	'	'
Receivables from managed entities b commercial finance, real estate and financial fund management	$4,883	$14,506
Investment in real estate	'	727
Investment in CVC Credit Partners	'	28,600
Investment in Apidos-CVC preferred interest	'	6,792
Total	'	51,531
Liability:	'	'
Apidos contractual commitment	994	589
Office Building [Member]	'	'
Assets:	'	'
Investment in real estate	'	906
Level 1 [Member]	'	'
Assets:	'	'
Receivables from managed entities b commercial finance, real estate and financial fund management	0	0
Investment in real estate	'	0
Investment in CVC Credit Partners	'	0
Investment in Apidos-CVC preferred interest	'	0
Total	'	0
Liability:	'	'
Apidos contractual commitment	0	0
Level 1 [Member] | Office Building [Member]	'	'
Assets:	'	'
Investment in real estate	'	0
Level 2 [Member]	'	'
Assets:	'	'
Receivables from managed entities b commercial finance, real estate and financial fund management	0	0
Investment in real estate	'	727
Investment in CVC Credit Partners	'	0
Investment in Apidos-CVC preferred interest	'	0
Total	'	727
Liability:	'	'
Apidos contractual commitment	0	0
Level 2 [Member] | Office Building [Member]	'	'
Assets:	'	'
Investment in real estate	'	0
Level 3 [Member]	'	'
Assets:	'	'
Receivables from managed entities b commercial finance, real estate and financial fund management	4,883	14,506
Investment in real estate	'	0
Investment in CVC Credit Partners	'	28,600
Investment in Apidos-CVC preferred interest	'	6,792
Total	'	50,804
Liability:	'	'
Apidos contractual commitment	994	589
Level 3 [Member] | Office Building [Member]	'	'
Assets:	'	'
Investment in real estate	'	$906

FAIR_VALUE_Fair_Value_of_Finan

FAIR VALUE (Fair Value of Financial Instruments, Excluding Instruments Valued on a Recurring Basis) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Carrying Amount [Member]	'	'
Assets:	'	'
Receivables from managed entities	$30,288	$30,618
Total	30,288	30,618
Borrowings:	'	'
Total	20,380	21,040
Carrying Amount [Member] | Real Estate Debt [Member]	'	'
Borrowings:	'	'
Real estate debt	10,335	10,473
Carrying Amount [Member] | Senior Notes [Member]	'	'
Borrowings:	'	'
Senior Notes	10,000	10,000
Carrying Amount [Member] | Other Debt [Member]	'	'
Borrowings:	'	'
Other debt	45	567
Estimated Fair Value [Member]	'	'
Assets:	'	'
Receivables from managed entities	30,288	30,618
Total	30,288	30,618
Borrowings:	'	'
Total	23,137	23,693
Estimated Fair Value [Member] | Real Estate Debt [Member]	'	'
Borrowings:	'	'
Real estate debt	10,869	11,398
Estimated Fair Value [Member] | Senior Notes [Member]	'	'
Borrowings:	'	'
Senior Notes	12,223	11,728
Estimated Fair Value [Member] | Other Debt [Member]	'	'
Borrowings:	'	'
Other debt	$45	$567

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)

0 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

9 Months Ended

Sep. 30, 2011

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2011

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Partnership

Trapeza Entities [Member]

Trapeza Entities [Member]

Trapeza Entities [Member]

Trapeza Entities [Member]

LEAF [Member]

LEAF I [Member]

LEAF II [Member]

Resource Securities [Member]

Resource Securities [Member]

defendant

Partnership

Entity

LEAF lease valuation commitment [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

Floor value of equity for shortfall obligation

'

'

'

'

'

'

'

$18,700,000

'

'

'

'

Maximum testing date for obligation (in days)

'

'

'

'

'

'

'

'90 days

'

'

'

'

Limited loan guarantee [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

Number of partnerships

'

2

'

'

'

'

'

'

'

'

'

'

Maturity date of debt

'

'

'

'

'

'

'

'

20-Mar-14

21-Dec-13

'

'

Maximum guarantee provided by the company

'

2,000,000

'

'

'

'

'

'

1,500,000

522,000

'

'

Amount of lender discount

'

'

'

'

'

'

'

'

250,000

347,500

'

'

Broker-dealer capital requirement

'

'

'

'

'

'

'

'

'

'

'

'

Minimum net capital required

'

'

'

'

'

'

'

'

'

'

351,000

113,000

Net capital

'

'

'

'

'

'

'

'

'

'

1,800,000

258,000

Minimum requirement of net capital exceeded by

'

'

'

'

'

'

'

'

'

'

1,400,000

145,000

Clawback liability [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

Number of entities owned by entity and co-managing partner

'

'

'

'

'

2

'

'

'

'

'

'

Potential clawback liabilities

'

'

'

'

4,400,000

4,400,000

'

'

'

'

'

'

Contribution towards potential clawback liabilities

'

'

'

'

2,200,000

2,200,000

'

'

'

'

'

'

Contribution towards potential clawback liabilities (in hundredths)

'

'

'

'

50.00%

50.00%

'

'

'

'

'

'

Clawback liability

'

0

1,181,000

'

'

'

1,200,000

'

'

'

'

'

Number of partnerships dissolved

'

'

'

'

2

'

'

'

'

'

'

'

Settlement of clawback liability

'

'

'

'

1,100,000

'

'

'

'

'

'

'

Loss Contingency, Number of Defendants

'

'

'

30

'

'

'

'

'

'

'

'

Legal proceedings [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

Notes purchased

$20,000,000

'

'

'

'

'

'

'

'

'

'

'

OPERATING_SEGMENTS_Narrative_D

OPERATING SEGMENTS (Narrative) (Details)	9 Months Ended
	Sep. 30, 2013
	Segment
Consolidated Entity Excluding RSO [Member]	'
Segment Reporting Information [Line Items]	'
Number of reportable operating segments	3
VIE - RSO [Member]	'
Segment Reporting Information [Line Items]	'
Number of reportable operating segments	1

OPERATING_SEGMENTS_Summarized_

OPERATING SEGMENTS (Summarized Operating Segment) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	$43,025	$47,889	$119,837	$123,696	'
Equity in earnings (losses) of unconsolidated entities	1,384	2,938	2,528	2,882	'
Segment operating expenses	-25,493	-19,976	-70,116	-61,373	'
Restructuring expenses	'	'	'	-365	'
General and administrative expenses	-2,505	-2,530	-6,807	-7,564	'
Provision for credit losses	-1,808	-6,336	-3,793	-14,996	'
Impairment charges	'	-2,280	'	-2,280	'
Depreciation and amortization	-413	-529	-1,318	-1,592	'
Gain on deconsolidation of subsidiary	'	-140	'	54,542	'
Other-than-temporary impairment on investments	'	'	-214	-74	'
Interest expense	-530	-544	-1,525	-1,767	'
Other income (expense), net	16,897	63	17,231	5,571	'
Pretax income attributable to noncontrolling interests	-23,720	-17,881	-44,417	-47,862	'
Income (loss) from continuing operations excluding noncontrolling interest before taxes	5,453	-2,264	8,878	45,936	'
Assets	2,443,511	2,488,458	2,443,511	2,488,458	2,636,764
Consolidation, Eliminations [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	-5,183	-4,988	-10,608	-12,733	'
Equity in earnings (losses) of unconsolidated entities	0	0	0	0	'
Segment operating expenses	4,861	4,950	10,178	12,589	'
Restructuring expenses	'	'	'	0	'
General and administrative expenses	0	0	0	0	'
Provision for credit losses	0	0	0	0	'
Impairment charges	'	0	'	'	'
Depreciation and amortization	0	0	0	0	'
Gain on deconsolidation of subsidiary	'	0	'	0	'
Other-than-temporary impairment on investments	'	'	0	0	'
Interest expense	0	0	0	0	'
Other income (expense), net	-394	-494	-1,445	-1,442	'
Pretax income attributable to noncontrolling interests	0	0	0	0	'
Income (loss) from continuing operations excluding noncontrolling interest before taxes	-716	-532	-1,875	-1,586	'
Consolidated Entity Excluding RSO [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	24,422	17,208	54,434	45,772	'
Equity in earnings (losses) of unconsolidated entities	'	'	2,528	2,882	'
Restructuring expenses	0	0	0	-365	'
General and administrative expenses	-2,505	-2,530	-6,807	-7,564	'
Provision for credit losses	-1,808	-6,336	-3,793	-14,996	'
Impairment charges	0	-2,280	0	-2,280	'
Depreciation and amortization	-413	-529	-1,318	-1,592	'
Gain on deconsolidation of subsidiary	0	-140	0	54,542	'
Other-than-temporary impairment on investments	0	0	-214	-74	'
Interest expense	-530	-544	-1,525	-1,767	'
Other income (expense), net	128	29	400	6	'
Consolidated Entity Excluding RSO [Member] | Real Estate [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	15,950	11,292	39,443	31,929	'
Equity in earnings (losses) of unconsolidated entities	-23	2,157	-334	1,827	'
Segment operating expenses	-11,178	-7,684	-29,514	-22,477	'
Restructuring expenses	'	'	'	0	'
General and administrative expenses	-674	-86	-2,893	-278	'
Provision for credit losses	-29	-83	2,523	-238	'
Impairment charges	'	-2,280	'	-2,280	'
Depreciation and amortization	-258	-332	-805	-980	'
Gain on deconsolidation of subsidiary	'	0	'	0	'
Other-than-temporary impairment on investments	'	'	0	0	'
Interest expense	-209	-215	-613	-641	'
Other income (expense), net	249	128	719	405	'
Pretax income attributable to noncontrolling interests	-12	36	-23	30	'
Income (loss) from continuing operations excluding noncontrolling interest before taxes	3,839	776	8,837	5,470	'
Assets	177,314	169,649	177,314	169,649	'
Consolidated Entity Excluding RSO [Member] | Financial Fund Management [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	8,502	6,083	15,234	15,378	'
Equity in earnings (losses) of unconsolidated entities	1,437	947	3,105	2,591	'
Segment operating expenses	-3,547	-3,909	-7,769	-11,282	'
Restructuring expenses	'	'	'	0	'
General and administrative expenses	-282	-602	-604	-1,814	'
Provision for credit losses	0	0	-199	0	'
Impairment charges	'	0	'	0	'
Depreciation and amortization	-13	-23	-49	-89	'
Gain on deconsolidation of subsidiary	'	-140	'	54,542	'
Other-than-temporary impairment on investments	'	'	-214	-74	'
Interest expense	-7	0	-7	0	'
Other income (expense), net	557	534	1,704	1,527	'
Pretax income attributable to noncontrolling interests	0	0	0	0	'
Income (loss) from continuing operations excluding noncontrolling interest before taxes	5,210	1,943	8,096	58,188	'
Assets	60,105	60,805	60,105	60,805	'
Consolidated Entity Excluding RSO [Member] | Commercial Finance [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	-30	-167	-243	-1,535	'
Equity in earnings (losses) of unconsolidated entities	-30	-166	-243	-1,536	'
Segment operating expenses	-75	-103	99	-451	'
Restructuring expenses	'	'	'	0	'
General and administrative expenses	0	0	0	0	'
Provision for credit losses	-1,779	-6,253	-6,117	-14,758	'
Impairment charges	'	0	'	0	'
Depreciation and amortization	0	0	0	0	'
Gain on deconsolidation of subsidiary	'	0	'	0	'
Other-than-temporary impairment on investments	'	'	0	0	'
Interest expense	1	-15	0	-58	'
Other income (expense), net	0	0	7	0	'
Pretax income attributable to noncontrolling interests	0	0	0	0	'
Income (loss) from continuing operations excluding noncontrolling interest before taxes	-1,883	-6,538	-6,254	-16,802	'
Assets	8,747	15,497	8,747	15,497	'
Consolidated Entity Excluding RSO [Member] | All Other [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	0	0	0	0	'
Equity in earnings (losses) of unconsolidated entities	0	0	0	0	'
Segment operating expenses	0	0	0	0	'
Restructuring expenses	'	'	'	-365	'
General and administrative expenses	-1,549	-1,842	-3,310	-5,472	'
Provision for credit losses	0	0	0	0	'
Impairment charges	'	0	'	'	'
Depreciation and amortization	-142	-174	-464	-523	'
Gain on deconsolidation of subsidiary	'	0	'	0	'
Other-than-temporary impairment on investments	'	'	0	0	'
Interest expense	-315	-314	-905	-1,068	'
Other income (expense), net	-122	-105	-361	-383	'
Pretax income attributable to noncontrolling interests	0	0	0	0	'
Income (loss) from continuing operations excluding noncontrolling interest before taxes	-2,128	-2,435	-5,040	-7,811	'
Assets	-74,123	-78,138	-74,123	-78,138	'
Consolidated Entity Excluding RSO [Member] | Operating Segments [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	24,422	17,208	54,434	45,772	'
Equity in earnings (losses) of unconsolidated entities	1,384	2,938	2,528	2,882	'
Segment operating expenses	-14,800	-11,696	-37,184	-34,210	'
Restructuring expenses	'	'	'	-365	'
General and administrative expenses	-2,505	-2,530	-6,807	-7,564	'
Provision for credit losses	-1,808	-6,336	-3,793	-14,996	'
Impairment charges	'	-2,280	'	-2,280	'
Depreciation and amortization	-413	-529	-1,318	-1,592	'
Gain on deconsolidation of subsidiary	'	-140	'	54,542	'
Other-than-temporary impairment on investments	'	'	-214	-74	'
Interest expense	-530	-544	-1,525	-1,767	'
Other income (expense), net	684	557	2,069	1,549	'
Pretax income attributable to noncontrolling interests	-12	36	-23	30	'
Income (loss) from continuing operations excluding noncontrolling interest before taxes	5,038	-6,254	5,639	39,045	'
Assets	172,043	167,813	172,043	167,813	'
VIE - RSO [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	23,786	35,669	76,011	90,657	'
VIE - RSO [Member] | Operating Segments [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	23,786	35,669	76,011	90,657	'
Equity in earnings (losses) of unconsolidated entities	0	0	0	0	'
Segment operating expenses	-15,554	-13,230	-43,110	-39,752	'
Restructuring expenses	'	'	'	0	'
General and administrative expenses	0	0	0	0	'
Provision for credit losses	0	0	0	0	'
Impairment charges	'	0	'	'	'
Depreciation and amortization	0	0	0	0	'
Gain on deconsolidation of subsidiary	'	0	'	0	'
Other-than-temporary impairment on investments	'	'	0	0	'
Interest expense	0	0	0	0	'
Other income (expense), net	16,607	0	16,607	5,464	'
Pretax income attributable to noncontrolling interests	-23,708	-17,917	-44,394	-47,892	'
Income (loss) from continuing operations excluding noncontrolling interest before taxes	1,131	4,522	5,114	8,477	'
Assets	2,271,468	2,320,645	2,271,468	2,320,645	'
External Customers [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	41,641	44,951	117,309	120,814	'
External Customers [Member] | Consolidation, Eliminations [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	-5,183	-4,988	-10,608	-12,733	'
External Customers [Member] | Consolidated Entity Excluding RSO [Member] | Real Estate [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	15,973	9,135	39,777	30,102	'
External Customers [Member] | Consolidated Entity Excluding RSO [Member] | Financial Fund Management [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	7,065	5,136	12,129	12,787	'
External Customers [Member] | Consolidated Entity Excluding RSO [Member] | Commercial Finance [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	0	-1	0	1	'
External Customers [Member] | Consolidated Entity Excluding RSO [Member] | All Other [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	0	0	0	0	'
External Customers [Member] | Consolidated Entity Excluding RSO [Member] | Operating Segments [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	23,038	14,270	51,906	42,890	'
External Customers [Member] | VIE - RSO [Member] | Operating Segments [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	$23,786	$35,669	$76,011	$90,657	'

VIEs_Not_Consolidated_Details

(VIEs Not Consolidated) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]	'	'
Receivables from managed entities and related parties, net	$30,288	$30,618
Variable Interest Entity, Not Primary Beneficiary [Member]	'	'
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]	'	'
Maximum Exposure to Loss in Non-consolidated VIEs	3,835	'
Variable Interest Entity, Not Primary Beneficiary [Member] | RRE Opportunity REIT [Member]	'	'
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]	'	'
Maximum Exposure to Loss in Non-consolidated VIEs	2,757	'
Variable Interest Entity, Not Primary Beneficiary [Member] | Trapeza Entities [Member]	'	'
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]	'	'
Maximum Exposure to Loss in Non-consolidated VIEs	898	'
Variable Interest Entity, Not Primary Beneficiary [Member] | Ischus Entities [Member]	'	'
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]	'	'
Maximum Exposure to Loss in Non-consolidated VIEs	180	'
Receivables from Managed Entities and Related Parties [Member]	'	'
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]	'	'
Receivables from managed entities and related parties, net	388	'
Receivables from Managed Entities and Related Parties [Member] | RRE Opportunity REIT [Member]	'	'
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]	'	'
Receivables from managed entities and related parties, net	208	'
Receivables from Managed Entities and Related Parties [Member] | Trapeza Entities [Member]	'	'
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]	'	'
Receivables from managed entities and related parties, net	0	'
Receivables from Managed Entities and Related Parties [Member] | Ischus Entities [Member]	'	'
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]	'	'
Receivables from managed entities and related parties, net	180	'
Investments [Member]	'	'
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]	'	'
Investments	3,447	'
Investments [Member] | RRE Opportunity REIT [Member]	'	'
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]	'	'
Investments	2,549	'
Investments [Member] | Trapeza Entities [Member]	'	'
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]	'	'
Investments	898	'
Investments [Member] | Ischus Entities [Member]	'	'
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]	'	'
Investments	$0	'

VARIABLE_INTEREST_ENTITIES_RSO

VARIABLE INTEREST ENTITIES RSO Balance Sheet (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
ASSETS	'	'	'	'
Cash and cash equivalents	$19,439	$11,899	$19,393	$12,803
Investment securities, trading	3,672	5,365	'	'
Total investment securities, at fair value	9,758	10,576	'	'
Total assets	2,443,511	2,636,764	2,488,458	'
Liabilities:	'	'	'	'
Liabilities	1,536,415	1,902,974	'	'
Stockholders' Equity	154,938	151,188	'	'
Assets and liabilities of consolidated VIEs included	'	'	'	'
Total assets of consolidated VIE - RSO	2,271,468	2,476,557	'	'
Total liabilities of consolidated VIE - RSO	1,485,385	1,856,839	'	'
Resource Capital Corp [Member]	'	'	'	'
ASSETS	'	'	'	'
Cash and cash equivalents	144,463	85,278	112,732	43,116
Restricted cash	59,195	94,112	'	'
Cash and cash equivalents (including restricted cash)	203,658	179,390	'	'
Investment securities, trading	12,099	24,843	24,843	'
Investment securities available-for-sale, pledged as collateral, at fair value	173,994	195,200	'	'
Investment securities available-for-sale, at fair value	46,690	36,390	'	'
Total investment securities, at fair value	232,783	256,433	'	'
Loans	1,644,587	1,849,428	'	'
Investment in real estate	55,144	75,386	'	'
Investments in unconsolidated entities	72,955	45,413	'	'
Investments, at fair value	128,099	120,706	'	'
Linked transactions, net at fair value	29,978	6,835	'	'
Interest receivable	8,078	7,763	'	'
Deferred tax assets, net	3,268	2,766	'	'
Principal paydown receivable	7	25,570	'	'
Intangible assets	11,728	13,192	'	'
Prepaid expenses	4,961	10,396	'	'
Other assets	4,347	4,109	'	'
Other assets	62,341	70,600	'	'
Total assets	2,271,468	2,476,557	'	'
Liabilities:	'	'	'	'
Borrowings	1,422,430	1,785,600	'	'
Distribution payable	26,796	21,655	'	'
Accrued interest expense	2,708	2,918	'	'
Derivatives, at fair value	12,208	14,687	'	'
Accrued tax liability	4,989	13,641	'	'
Deferred tax liability	7,690	8,376	'	'
Accrued expenses and other liabilities	12,829	18,029	'	'
Other liabilities	62,955	71,239	'	'
Liabilities	1,485,385	1,856,839	'	'
Noncontrolling interests	751,940	582,323	'	'
Reportable Legal Entities [Member]	'	'	'	'
Liabilities:	'	'	'	'
Stockholders' Equity	148,464	'	'	'
Assets and liabilities of consolidated VIEs included	'	'	'	'
Total liabilities of consolidated VIE - RSO	1,489,650	'	'	'
Reportable Legal Entities [Member] | Resource Capital Corp [Member]	'	'	'	'
ASSETS	'	'	'	'
Loans held for sale	332,351	48,894	'	'
Loans, pledged as collateral and net of allowances of $12.9 million and $17.7 million	1,305,739	1,793,780	'	'
Loans receivablebrelated party	8,067	8,324	'	'
Loans	1,646,157	1,850,998	'	'
Investments, at fair value	128,099	120,799	'	'
Other assets	62,367	70,631	'	'
Total assets	2,273,064	2,478,251	'	'
Liabilities:	'	'	'	'
Other liabilities	67,220	79,306	'	'
Liabilities	1,489,650	1,864,906	'	'
Stockholders' Equity	783,414	613,345	'	'
Consolidation, Eliminations [Member] | Resource Capital Corp [Member]	'	'	'	'
ASSETS	'	'	'	'
Loans	-1,570	-1,570	'	'
Investments, at fair value	0	-93	'	'
Other assets	-26	-31	'	'
Liabilities:	'	'	'	'
Other liabilities	-4,265	-8,067	'	'
Stockholders' Equity	-31,474	-31,022	'	'
VIE, Primary Beneficiary [Member] | Resource Capital Corp [Member]	'	'	'	'
Assets and liabilities of consolidated VIEs included	'	'	'	'
Restricted cash	53,752	90,108	'	'
Investment securities available-for-sale, pledged as collateral, at fair value	110,993	135,566	'	'
Loans held for sale	332,351	14,894	'	'
Loans, pledged as collateral and net of allowances of $7.3 million and $15.2 million	981,513	1,678,719	'	'
Interest receivable	5,506	5,986	'	'
Prepaid assets	254	328	'	'
Principal receivable	7	25,570	'	'
Other assets	35	333	'	'
Total assets of consolidated VIE - RSO	1,484,411	1,951,504	'	'
Borrowings	1,166,209	1,614,882	'	'
Accrued interest expense	2,184	2,666	'	'
Derivatives, at fair value	11,766	14,078	'	'
Accounts payable and other liabilities	646	698	'	'
Total liabilities of consolidated VIE - RSO	$1,180,805	$1,632,324	'	'

VARIABLE_INTEREST_ENTITIES_RSO1

VARIABLE INTEREST ENTITIES RSO - Balance Sheet Parenthetical (Details) (Resource Capital Corp [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Allowance for loan loss	$12,865	$17,691
VIE, Primary Beneficiary [Member]	'	'
Allowance for loan loss	$7,300	$15,200

VARIABLE_INTEREST_ENTITIES_RSO2

VARIABLE INTEREST ENTITIES RSO Income Statement (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
REVENUES:	'	'	'	'
Interest expense	$530,000	$544,000	$1,525,000	$1,767,000
Equity in losses of unconsolidated subsidiaries	1,384,000	2,938,000	2,528,000	2,882,000
Revenues	43,025,000	47,889,000	119,837,000	123,696,000
OPERATING EXPENSES	'	'	'	'
General and administrative	2,505,000	2,530,000	6,807,000	7,564,000
Depreciation and amortization	413,000	529,000	1,318,000	1,592,000
Income tax provision (benefit)	'	-5,000	-396,000	20,336,000
Expenses from consolidated VIE - RSO	30,219,000	31,651,000	82,034,000	88,170,000
OPERATING INCOME	12,806,000	16,238,000	37,803,000	35,526,000
OTHER REVENUE (EXPENSE)	'	'	'	'
Other income, net	16,897,000	63,000	17,231,000	5,571,000
Net income (loss) attributable to common shareholders	3,442,000	-2,267,000	5,051,000	25,562,000
Resource Capital Corp [Member]	'	'	'	'
REVENUES:	'	'	'	'
Loans	24,374,000	24,130,000	78,370,000	70,757,000
Securities	3,411,000	3,564,000	10,949,000	10,520,000
Interest income b other	649,000	2,218,000	3,150,000	8,204,000
Total interest income	28,434,000	29,912,000	92,469,000	89,481,000
Interest expense	11,762,000	8,208,000	34,061,000	25,460,000
Net interest income	16,672,000	21,704,000	58,408,000	64,021,000
Rental income	4,649,000	2,689,000	15,875,000	6,642,000
Dividend income	223,000	17,000	256,000	51,000
Equity in losses of unconsolidated subsidiaries	-505,000	-779,000	-858,000	-1,469,000
Fee income	1,245,000	1,777,000	4,182,000	5,528,000
Net realized and unrealized gain on sales of investment securities available-for-sale and loans	570,000	346,000	3,355,000	2,148,000
Net realized and unrealized (loss) gain on investment securities, trading	-229,000	9,782,000	-864,000	13,350,000
Unrealized gain (loss) and net interest income on linked transactions, net	1,161,000	133,000	-4,343,000	386,000
Revenues	23,786,000	35,669,000	76,011,000	90,657,000
OPERATING EXPENSES	'	'	'	'
Management fees b related party	5,113,000	5,521,000	11,006,000	13,512,000
Equity compensation b related party	2,120,000	1,404,000	7,866,000	3,412,000
Professional services	1,396,000	845,000	3,745,000	2,562,000
Insurance	214,000	161,000	588,000	478,000
Rental operating expense	3,523,000	1,827,000	11,084,000	4,456,000
General and administrative	1,288,000	844,000	4,428,000	3,377,000
Depreciation and amortization	904,000	1,249,000	3,041,000	3,974,000
Income tax provision (benefit)	722,000	3,979,000	4,221,000	6,978,000
Expenses from consolidated VIE - RSO	15,554,000	13,230,000	43,110,000	39,752,000
OPERATING INCOME	8,232,000	22,439,000	32,901,000	50,905,000
Net impairment losses recognized in earnings	255,000	9,000	811,000	180,000
Provision for loan losses	741,000	1,370,000	541,000	7,801,000
Total operating expenses	16,276,000	17,209,000	47,331,000	46,730,000
OTHER REVENUE (EXPENSE)	'	'	'	'
Gain on the extinguishment of debt	0	0	0	5,464,000
Gain on sale of real estate	16,607,000	0	16,607,000	0
Other income, net	16,607,000	0	16,607,000	5,464,000
Income from continuing operations	24,839,000	22,439,000	49,508,000	56,369,000
Net income (loss) attributable to common shareholders	24,117,000	18,460,000	45,287,000	49,391,000
Net income allocated to preferred shares	-1,996,000	-308,000	-5,107,000	-333,000
NET INCOME ALLOCABLE TO RSO COMMON SHARES	$22,121,000	$18,152,000	$40,180,000	$49,058,000

VARIABLE_INTEREST_ENTITIES_RSO3

VARIABLE INTEREST ENTITIES RSO Summarized Cash Flow (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'	'	'
Net income	$27,190,000	$15,614,000	$49,468,000	$73,424,000
Line items included in Change in cash attributable to consolidated VIE - RSO	'	'	'	'
Net impairement losses recognized in earnings	'	'	214,000	74,000
Equity in losses of unconsolidated subsidiaries	-1,384,000	-2,938,000	-2,528,000	-2,882,000
Payments on borrowings:	'	'	'	'
Increase in cash	'	'	7,540,000	6,590,000
Cash, beginning of year	'	'	11,899,000	12,803,000
Cash, end of period	19,439,000	19,393,000	19,439,000	19,393,000
Interest expense paid in cash	'	'	1,270,000	1,548,000
Resource Capital Corp [Member]	'	'	'	'
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'	'	'
Net income	'	'	45,287,000	49,391,000
Line items included in Change in cash attributable to consolidated VIE - RSO	'	'	'	'
Provision for loan losses	741,000	1,370,000	541,000	7,801,000
Depreciation of investments in real estate and other	'	'	1,638,000	1,264,000
Amortization of intangible assets	'	'	1,463,000	2,709,000
Amortization of term facilities	'	'	876,000	710,000
Accretion of net discounts on loans held for investment	'	'	-8,306,000	-10,738,000
Accretion of net discounts on securities available-for-sale	'	'	-1,925,000	-2,444,000
Amortization of discount on notes of CDOs	'	'	3,937,000	1,037,000
Amortization of debt issuance costs on notes of CDOs	'	'	2,868,000	3,330,000
Amortization of stock-based compensation	'	'	7,866,000	3,412,000
Amortization of terminated derivative instruments	'	'	322,000	169,000
Distribution accrued to preferred stockholders	'	'	-5,107,000	0
Accretion of interest-only available-for-sales securities	'	'	-714,000	-463,000
Deferred income tax provision (benefit)	'	'	502,000	-1,315,000
Purchase of securities, trading	'	'	-11,044,000	-8,348,000
Principal payments on securities, trading	'	'	4,211,000	981,000
Proceeds from sales of securities, trading	'	'	18,713,000	33,579,000
Net realized and unrealized loss (gain) on investment securities, trading	'	'	864,000	-13,350,000
Net realized gain on sales of investment securities available-for-sale and loans	'	'	-3,355,000	-2,148,000
Gain on early extinguishment of debt	'	'	0	-5,464,000
Gain on sale of real estate	'	'	-16,607,000	0
Net impairement losses recognized in earnings	'	'	802,000	180,000
Linked transactions fair value adjustments	'	'	5,224,000	0
Equity in losses of unconsolidated subsidiaries	505,000	779,000	858,000	1,469,000
Changes in operating assets and liabilities	'	'	17,434,000	-9,504,000
Subtotal - net cash provided by operating activities (1)	'	'	21,061,000	2,867,000
Change in consolidated VIE - RSO cash for the period	'	'	-59,185,000	-69,616,000
Changes in cash attributable to operations of consolidated VIE- RSO	'	'	-38,415,000	-66,088,000
Share-based Compensation	'	'	0	0
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'	'	'
Purchase of loans	'	'	-555,051,000	-479,172,000
Purchase of securities available-for-sale	'	'	-120,599,000	-70,654,000
Subtotal - purchase of loans and investment securities by consolidated VIE - RSO	'	'	-675,650,000	-549,826,000
Proceeds from sale of loans	'	'	314,112,000	139,708,000
Principal payments received on loans	'	'	487,606,000	356,866,000
Principal payments on securities available-for-sale	'	'	33,010,000	36,365,000
Proceeds from sale of securities available-for-sale	'	'	7,025,000	6,719,000
Principal payments received on loans b related parties	'	'	499,000	459,000
Principal payments and proceeds from sales received by consolidated VIE - RSO	'	'	842,252,000	540,117,000
Decrease in restricted cash	'	'	30,079,000	85,413,000
Investment in unconsolidated entity	'	'	-25,508,000	-725,000
Equity contribution to VIE	'	'	0	-710,000
Minority interest equity	'	'	2,200,000	1,979,000
Improvement of real estate held-for-sale	'	'	-404,000	-138,000
Proceeds from sale of real estate held-for-sale	'	'	37,001,000	2,886,000
Distributions from investments in real estate	'	'	522,000	1,152,000
Improvements in investments in real estate	'	'	-365,000	-852,000
Purchase of furniture and fixtures	'	'	-128,000	0
Subtotal - other investing activities of consolidated VIE, before eliminations	'	'	13,346,000	3,635,000
Net cash provided by investing activities (excluding eliminations)	'	'	209,999,000	79,296,000
Proceeds from borrowings:	'	'	'	'
Repurchase agreements	'	'	143,203,000	33,820,000
Payments on borrowings:	'	'	'	'
Collateralized debt obligations	'	'	-450,437,000	-156,989,000
Mortgage payable	'	'	-13,600,000	0
Retirement of debt	'	'	0	-4,850,000
Net borrowings (repayments) of debt by consolidated VIE - RSO	'	'	-320,834,000	-128,019,000
Distributions paid on common stock	'	'	-66,341,000	-52,688,000
Net proceeds from issuances of common stock (net of offering costs of $4,265 and $2,165)	'	'	114,018,000	55,502,000
Net proceeds from dividend reinvestment and stock purchase plan (net of offering costs of $0 and $19)	'	'	19,092,000	50,424,000
Net proceeds from issuance of common stock by consolidated VIE - RSO	'	'	184,279,000	122,337,000
Payment of debt issuance costs	'	'	-1,740,000	-586,000
Payment of equity to third party sub-note holders	'	'	-6,952,000	-2,160,000
Distributions paid on preferred stock	'	'	-4,389,000	-93,000
Subtotal - Other consolidated VIE -RSO financing activity	'	'	-13,081,000	-2,839,000
Net cash used in financing activities (excluding eliminations)	'	'	-217,646,000	-62,752,000
Increase in cash	'	'	59,185,000	69,616,000
Cash, beginning of year	'	'	85,278,000	43,116,000
Cash, end of period	144,463,000	112,732,000	144,463,000	112,732,000
Interest expense paid in cash	'	'	28,391,000	24,209,000
Redeemable Preferred Stock Series A [Member] | Resource Capital Corp [Member]	'	'	'	'
Payments on borrowings:	'	'	'	'
Proceeds from issuance of preferred shares	'	'	112,000	16,411,000
Redeemable Preferred Stock Series B [Member] | Resource Capital Corp [Member]	'	'	'	'
Payments on borrowings:	'	'	'	'
Proceeds from issuance of preferred shares	'	'	51,057,000	0
Consolidation, Eliminations [Member]	'	'	'	'
Line items included in Change in cash attributable to consolidated VIE - RSO	'	'	'	'
Net impairement losses recognized in earnings	'	'	0	0
Equity in losses of unconsolidated subsidiaries	0	0	0	0
Consolidation, Eliminations [Member] | Resource Capital Corp [Member]	'	'	'	'
Line items included in Change in cash attributable to consolidated VIE - RSO	'	'	'	'
Changes in cash attributable to operations of consolidated VIE- RSO	'	'	-291,000	661,000
Share-based Compensation	'	'	-484,000	-814,000
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'	'	'
Subtotal - other investing activities of consolidated VIE, before eliminations	'	'	28,000	43,000
Payments on borrowings:	'	'	'	'
Distributions paid on common stock	'	'	1,669,000	1,543,000
Reportable Legal Entities [Member] | Resource Capital Corp [Member]	'	'	'	'
Line items included in Change in cash attributable to consolidated VIE - RSO	'	'	'	'
Subtotal - net cash provided by operating activities (1)	'	'	66,832,000	53,072,000
Changes in cash attributable to operations of consolidated VIE- RSO	'	'	-38,124,000	-66,749,000
Share-based Compensation	'	'	484,000	814,000
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'	'	'
Subtotal - other investing activities of consolidated VIE, before eliminations	'	'	13,318,000	3,592,000
Payments on borrowings:	'	'	'	'
Distributions paid on common stock	'	'	($68,010,000)	($54,231,000)

VARIABLE_INTEREST_ENTITIES_RSO4

VARIABLE INTEREST ENTITIES RSO - Summarized Cash Flow Parenthetical (Details) (Resource Capital Corp [Member], USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Offering costs	$0	$19
Common Stock [Member]	'	'
Offering costs	4,265	2,165
Redeemable Preferred Stock Series A [Member]	'	'
Offering costs	3	781
Preferred stock, coupon authorized (in hundredths)	8.50%	8.50%
Redeemable Preferred Stock Series B [Member]	'	'
Offering costs	$1,091	$0
Preferred stock, coupon authorized (in hundredths)	8.25%	8.25%

RSO_ACCOUNTING_POLICIES_Detail

RSO ACCOUNTING POLICIES (Details) (Resource Capital Corp [Member], USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Property, Plant and Equipment [Line Items]	'	'	'	'
Impairment charges	$0	$0	$0	$0
Building [Member] | Minimum [Member]	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'
Useful life	'	'	'25 years	'
Building [Member] | Maximum [Member]	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'
Useful life	'	'	'40 years	'
Site Improvements [Member]	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'
Useful life	'	'	'Lesser of the remaining life of building or useful lives	'

RSO_VARIABLE_INTEREST_ENTITIES

RSO VARIABLE INTEREST ENTITIES (Details) (USD $)

3 Months Ended

9 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

1 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Jan. 31, 2013

Oct. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Nov. 16, 2011

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Nov. 16, 2011

Feb. 28, 2011

Oct. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Oct. 31, 2012

Sep. 30, 2013

31-May-13

Nov. 16, 2011

Sep. 30, 2013

Dec. 31, 2012

Jan. 18, 2013

Nov. 16, 2011

Nov. 16, 2011

Sep. 30, 2013

Nov. 16, 2011

Jan. 18, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Jan. 31, 2013

Feb. 28, 2011

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Dec. 01, 2009

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Jun. 19, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Jul. 31, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

VIE, Primary Beneficiary [Member]

VIE, Primary Beneficiary [Member]

Whitney CLO I Senior Notes [Member]

credit

Preferred Shares - Series B [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

Investment in RCAM [Member]

Whitney CLO I, Ltd. [Member]

Whitney CLO I, Ltd. [Member]

Varde Investment Partners, LP [Member]

VIE, Primary Beneficiary [Member]

VIE, Primary Beneficiary [Member]

VIE, Primary Beneficiary [Member]

VIE, Primary Beneficiary [Member]

VIE, Primary Beneficiary [Member]

VIE, Primary Beneficiary [Member]

VIE, Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Resource Capital Corp [Member]

Entity

Entity

Entity

Investment in RCAM [Member]

Whitney CLO I, Ltd. [Member]

Whitney CLO I, Ltd. [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

Interest in RCT I and RCT II [Member]

Interest in RCT I [Member]

Interest in RCT II [Member]

Investment in RCAM [Member]

Investment in RCAM [Member]

Investment in RCAM [Member]

Investment in RCAM [Member]

Investment in RCAM [Member]

Investment in RCAM [Member]

Investment in RCAM [Member]

RRE VIP Borrower, LLC [Member]

RRE VIP Borrower, LLC [Member]

RRE VIP Borrower, LLC [Member]

RRE VIP Borrower, LLC [Member]

RRE VIP Borrower, LLC [Member]

RRE VIP Borrower, LLC [Member]

RRE VIP Borrower, LLC [Member]

RRE VIP Borrower, LLC [Member]

Varde Investment Partners, LP [Member]

Varde Investment Partners, LP [Member]

Varde Investment Partners, LP [Member]

Varde Investment Partners, LP [Member]

Varde Investment Partners, LP [Member]

CVC Global Credit Opportunities Fund, LP [Member]

CVC Global Credit Opportunities Fund, LP [Member]

CVC Global Credit Opportunities Fund, LP [Member]

Life Care Funding, LLC [Member]

Life Care Funding, LLC [Member]

Harvard CLO VII Limited [Member]

Harvard CLO VII Limited [Member]

Position

Preferred Shares - Series A [Member]

Preferred Shares - Series A [Member]

Preferred Shares - Series B [Member]

Preferred Shares - Series B [Member]

Series D Preferred Stock [Member]

Series A-1 Preferred Stock [Member]

Series E Preferred Stock [Member]

Entity

Entity

Minimum [Member]

Maximum [Member]

Property

Variable Interest Entity [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of consolidated VIEs

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

7

'

7

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of VIEs for which persons of power are considered a related party group

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6

'

6

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of credits supported in VIEs

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Financial support provided to VIEs

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$0

$0

$0

$199,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$20,000

$145,000

$157,000

$465,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares received in equity method transaction (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

31,341

4,872

'

2,364

3,682

3,323

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred stock, coupon authorized (in hundredths)

'

'

'

'

'

'

'

'

'

'

'

8.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

8.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Equity contribution to VIE

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,700,000

'

'

'

'

'

3,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15,000,000

'

'

2,000,000

'

'

'

'

'

Ownership percentage in VIE

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

26.70%

27.50%

'

'

'

'

'

'

'

'

'

100.00%

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

7.50%

'

'

'

'

'

'

34.40%

'

'

'

9.52%

'

'

'

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

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Variable interest entity, total number of board positions

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Investments in unconsolidated entities

'

'

'

'

'

'

72,955,000

'

72,955,000

'

45,413,000

'

'

'

'

'

36,300,000

'

'

'

'

'

'

'

'

'

'

'

'

40,800,000

33,100,000

'

'

'

'

'

'

'

1,500,000

'

'

'

'

'

'

'

'

'

'

-330,000

'

-330,000

'

2,300,000

'

'

'

575,000

'

575,000

526,000

15,500,000

'

15,500,000

1,700,000

1,700,000

'

'

'

'

'

Percentage of total value of trusts owned

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.00%

3.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Borrowings

'

'

'

'

'

'

1,422,430,000

'

1,422,430,000

'

1,785,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

25,800,000

25,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,422,430,000

1,785,600,000

'

Bank loan assets under management

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,900,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of CLOs held by purchased entity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Acquisition

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

22,500,000

'

'

'

'

'

2,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Intangible assets

'

'

'

'

'

'

11,728,000

'

11,728,000

'

13,192,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

11,700,000

'

11,700,000

'

13,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fee income

'

'

'

'

'

'

1,245,000

1,777,000

4,182,000

5,528,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,200,000

1,800,000

4,200,000

5,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Collateralized Loan Obligations Liquidated

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred equity acquired

'

'

'

'

'

66.60%

'

'

'

'

'

'

'

'

'

'

'

'

66.60%

'

'

'

'

'

'

66.60%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Ownership interests in variable interest entities (in hundredths)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

66.60%

68.30%

'

'

'

'

'

'

68.30%

68.30%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repayments of debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

103,700,000

Required contribution to joint venture, as a percentage of the total funding required for each asset acquisition on a monthly basis

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.00%

5.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Ownership percentage (in hundredths)

'

'

'

'

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of condominium developments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Equity in losses of unconsolidated subsidiaries

1,384,000

2,938,000

2,528,000

2,882,000

'

'

-505,000

-779,000

-858,000

-1,469,000

'

'

-346,000

-1,000,000

-378,000

-2,300,000

'

'

'

'

-100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-521,000

346,000

-735,000

931,000

'

'

'

'

6,000

-100,000

49,000

'

433,000

'

526,000

-107,000

-349,000

'

'

'

'

'

Threshold for determination of capital call, aggregate capital contributions (exceeds $500 million)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

500,000,000

'

500,000,000

'

'

'

'

'

'

'

'

'

'

'

VIE, purchase of subordinated notes

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$5,300,000

'

'

'

'

RSO_VARIABLE_INTEREST_ENTITIES1

RSO VARIABLE INTEREST ENTITIES (Schedule of Carrying Value of Assets and Liabilities of Consolidated VIEs) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
ASSETS	'	'
Total assets of consolidated VIE - RSO	$2,271,468,000	$2,476,557,000
LIABILITIES	'	'
Total liabilities of consolidated VIE - RSO	1,485,385,000	1,856,839,000
Resource Capital Corp [Member] | VIE, Primary Beneficiary [Member]	'	'
ASSETS	'	'
Restricted cash	53,752,000	90,108,000
Investment securities available-for-sale, pledged as collateral, at fair value	110,993,000	135,566,000
Loans, pledged as collateral	981,513,000	1,678,719,000
Loans held for sale	332,351,000	14,894,000
Interest receivable	5,506,000	5,986,000
Prepaid assets	254,000	328,000
Principal receivable	7,000	25,570,000
Other assets	35,000	333,000
Total assets of consolidated VIE - RSO	1,484,411,000	1,951,504,000
LIABILITIES	'	'
Borrowings	1,166,209,000	1,614,882,000
Accrued interest expense	2,184,000	2,666,000
Derivatives, at fair value	11,766,000	14,078,000
Accounts payable and other liabilities	646,000	698,000
Total liabilities of consolidated VIE - RSO	1,180,805,000	1,632,324,000
Restricted cash available for reinvestment in certain of the CDOs	16,700,000	'
Resource Capital Corp [Member] | VIE, Primary Beneficiary [Member] | Apidos CDO I Ltd. [Member]	'	'
ASSETS	'	'
Restricted cash	10,253,000	'
Investment securities available-for-sale, pledged as collateral, at fair value	8,097,000	'
Loans, pledged as collateral	100,268,000	'
Loans held for sale	0	'
Interest receivable	-148,000	'
Prepaid assets	14,000	'
Principal receivable	0	'
Other assets	0	'
Total assets of consolidated VIE - RSO	118,484,000	'
LIABILITIES	'	'
Borrowings	101,827,000	'
Accrued interest expense	263,000	'
Derivatives, at fair value	0	'
Accounts payable and other liabilities	154,000	'
Total liabilities of consolidated VIE - RSO	102,244,000	'
Resource Capital Corp [Member] | VIE, Primary Beneficiary [Member] | Apidos CDO III Ltd. [Member]	'	'
ASSETS	'	'
Restricted cash	2,943,000	'
Investment securities available-for-sale, pledged as collateral, at fair value	6,217,000	'
Loans, pledged as collateral	148,660,000	'
Loans held for sale	183,000	'
Interest receivable	597,000	'
Prepaid assets	14,000	'
Principal receivable	0	'
Other assets	0	'
Total assets of consolidated VIE - RSO	158,614,000	'
LIABILITIES	'	'
Borrowings	145,875,000	'
Accrued interest expense	63,000	'
Derivatives, at fair value	0	'
Accounts payable and other liabilities	18,000	'
Total liabilities of consolidated VIE - RSO	145,956,000	'
Resource Capital Corp [Member] | VIE, Primary Beneficiary [Member] | Apidos Cinco CDO Ltd [Member]	'	'
ASSETS	'	'
Restricted cash	18,368,000	'
Investment securities available-for-sale, pledged as collateral, at fair value	16,622,000	'
Loans, pledged as collateral	308,128,000	'
Loans held for sale	3,688,000	'
Interest receivable	1,094,000	'
Prepaid assets	26,000	'
Principal receivable	7,000	'
Other assets	35,000	'
Total assets of consolidated VIE - RSO	347,968,000	'
LIABILITIES	'	'
Borrowings	320,997,000	'
Accrued interest expense	325,000	'
Derivatives, at fair value	0	'
Accounts payable and other liabilities	23,000	'
Total liabilities of consolidated VIE - RSO	321,345,000	'
Resource Capital Corp [Member] | VIE, Primary Beneficiary [Member] | Apidos CLO VIII Ltd. [Member]	'	'
ASSETS	'	'
Restricted cash	16,152,000	'
Investment securities available-for-sale, pledged as collateral, at fair value	1,975,000	'
Loans, pledged as collateral	7,874,000	'
Loans held for sale	325,675,000	'
Interest receivable	752,000	'
Prepaid assets	7,000	'
Principal receivable	0	'
Other assets	0	'
Total assets of consolidated VIE - RSO	352,435,000	'
LIABILITIES	'	'
Borrowings	321,360,000	'
Accrued interest expense	1,386,000	'
Derivatives, at fair value	0	'
Accounts payable and other liabilities	384,000	'
Total liabilities of consolidated VIE - RSO	323,130,000	'
Resource Capital Corp [Member] | VIE, Primary Beneficiary [Member] | Whitney CLO I, Ltd. [Member]	'	'
ASSETS	'	'
Restricted cash	5,586,000	'
Loans, pledged as collateral	635,000	'
Loans held for sale	2,805,000	'
Interest receivable	-18,000	'
Prepaid assets	23,000	'
Principal receivable	0	'
Other assets	0	'
Total assets of consolidated VIE - RSO	9,031,000	'
LIABILITIES	'	'
Borrowings	2,424,000	'
Accrued interest expense	0	'
Derivatives, at fair value	0	'
Accounts payable and other liabilities	43,000	'
Total liabilities of consolidated VIE - RSO	2,467,000	'
Resource Capital Corp [Member] | VIE, Primary Beneficiary [Member] | Resource Real Estate Funding CDO 2006-1 [Member]	'	'
ASSETS	'	'
Restricted cash	20,000	'
Investment securities available-for-sale, pledged as collateral, at fair value	11,658,000	'
Loans, pledged as collateral	158,659,000	'
Loans held for sale	0	'
Interest receivable	1,388,000	'
Prepaid assets	99,000	'
Principal receivable	0	'
Other assets	0	'
Total assets of consolidated VIE - RSO	171,824,000	'
LIABILITIES	'	'
Borrowings	95,151,000	'
Accrued interest expense	41,000	'
Derivatives, at fair value	1,379,000	'
Accounts payable and other liabilities	22,000	'
Total liabilities of consolidated VIE - RSO	96,593,000	'
Resource Capital Corp [Member] | VIE, Primary Beneficiary [Member] | Resource Real Estate Funding CDO 2007-1 [Member]	'	'
ASSETS	'	'
Restricted cash	430,000	'
Investment securities available-for-sale, pledged as collateral, at fair value	66,424,000	'
Loans, pledged as collateral	257,289,000	'
Loans held for sale	0	'
Interest receivable	1,841,000	'
Prepaid assets	71,000	'
Principal receivable	0	'
Other assets	0	'
Total assets of consolidated VIE - RSO	326,055,000	'
LIABILITIES	'	'
Borrowings	178,575,000	'
Accrued interest expense	106,000	'
Derivatives, at fair value	10,387,000	'
Accounts payable and other liabilities	2,000	'
Total liabilities of consolidated VIE - RSO	$189,070,000	'

RSO_VARIABLE_INTEREST_ENTITIES2

RSO VARIABLE INTEREST ENTITIES (Schedule of Classification, Carrying Value, and Maximum Exposure to Loss of Unconsolidated VIEs) (Details) (Variable Interest Entity, Not Primary Beneficiary [Member], USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified
Variable Interest Entity [Line Items]	'
Maximum Exposure to Loss	$3,835
Resource Capital Corp [Member]	'
Variable Interest Entity [Line Items]	'
Investment in unconsolidated entities	64,789
Intangible assets	11,687
Total assets	76,476
Borrowings	50,956
Total liabilities	50,956
Net asset (liability)	25,520
Resource Capital Corp [Member] | Investments in Unconsolidated Entities [Member]	'
Variable Interest Entity [Line Items]	'
Maximum Exposure to Loss	64,789
Resource Capital Corp [Member] | Intangible Assets [Member]	'
Variable Interest Entity [Line Items]	'
Maximum Exposure to Loss	11,687
Resource Capital Corp [Member] | LEAF Commercial Capital Inc [Member]	'
Variable Interest Entity [Line Items]	'
Investment in unconsolidated entities	40,820
Intangible assets	0
Total assets	40,820
Borrowings	0
Total liabilities	0
Net asset (liability)	40,820
Resource Capital Corp [Member] | Unsecured Junior Subordinated Debentures [Member]	'
Variable Interest Entity [Line Items]	'
Investment in unconsolidated entities	1,548
Intangible assets	0
Total assets	1,548
Borrowings	50,956
Total liabilities	50,956
Net asset (liability)	-49,408
Resource Capital Corp [Member] | Resource Capital Asset Management [Member]	'
Variable Interest Entity [Line Items]	'
Investment in unconsolidated entities	0
Intangible assets	11,687
Total assets	11,687
Borrowings	0
Total liabilities	0
Net asset (liability)	11,687
Resource Capital Corp [Member] | RRE VIP Borrower, LLC [Member]	'
Variable Interest Entity [Line Items]	'
Investment in unconsolidated entities	-330
Intangible assets	0
Total assets	-330
Borrowings	0
Total liabilities	0
Net asset (liability)	-330
Resource Capital Corp [Member] | Varde Investment Partners, LP [Member]	'
Variable Interest Entity [Line Items]	'
Investment in unconsolidated entities	575
Intangible assets	0
Total assets	575
Borrowings	0
Total liabilities	0
Net asset (liability)	575
Resource Capital Corp [Member] | Life Care Funding, LLC [Member]	'
Variable Interest Entity [Line Items]	'
Investment in unconsolidated entities	1,651
Intangible assets	0
Total assets	1,651
Borrowings	0
Total liabilities	0
Net asset (liability)	1,651
Resource Capital Corp [Member] | CVC Global Credit Opportunities Fund, LP [Member]	'
Variable Interest Entity [Line Items]	'
Investment in unconsolidated entities	15,526
Intangible assets	0
Total assets	15,526
Borrowings	0
Total liabilities	0
Net asset (liability)	15,526
Resource Capital Corp [Member] | Harvard CLO VII Limited [Member]	'
Variable Interest Entity [Line Items]	'
Investment in unconsolidated entities	4,999
Intangible assets	0
Total assets	4,999
Borrowings	0
Total liabilities	0
Net asset (liability)	$4,999

RSO_SUPPLEMENTAL_CASH_FLOW_INF

RSO SUPPLEMENTAL CASH FLOW INFORMATION (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Non-cash financing activities include the following:	'	'
Income taxes paid in cash	$933	$1,306
Resource Capital Corp [Member]	'	'
Non-cash investing activities include the following:	'	'
Acquisition of real estate investments	0	-21,661
Conversion of loans to investment in real estate	0	21,661
Non-cash financing activities include the following:	'	'
Income taxes paid in cash	8,997	19,771
Issuance of restricted stock	242	480
Subscription receivable	257	24,213
Resource Capital Corp [Member] | Common Stock [Member]	'	'
Non-cash financing activities include the following:	'	'
Distributions on common and preferred stock declared but not paid	25,447	19,897
Resource Capital Corp [Member] | Preferred Stock	'	'
Non-cash financing activities include the following:	'	'
Distributions on common and preferred stock declared but not paid	$2,023	$308

RSO_INVESTMENT_SECURITIES_TRAD

RSO INVESTMENT SECURITIES, TRADING (Details) (Resource Capital Corp [Member], USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
	Security	Security
Resource Capital Corp [Member]	'	'
Schedule of Trading Securities and Other Trading Assets [Line Items]	'	'
Securities purchased	4	'
Securities sold	6	'
Net realized gain (loss)	$6.90	'
Number of trading securities held	11	13

RSO_INVESTMENT_SECURITIES_TRAD1

RSO INVESTMENT SECURITIES, TRADING (Schedule of Investment Trading Securities at Fair Value) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Schedule of Trading Securities and Other Trading Assets [Line Items]	'	'	'	'	'
Unrealized gain on trading securities	$289	$933	$774	$1,108	'
Fair Value	3,672	'	3,672	'	5,365
Resource Capital Corp [Member]	'	'	'	'	'
Schedule of Trading Securities and Other Trading Assets [Line Items]	'	'	'	'	'
Amortized Cost	10,488	15,460	10,488	15,460	'
Unrealized gain on trading securities	'	'	4,026	11,752	'
Unrealized Losses	'	'	-2,415	-2,369	'
Fair Value	12,099	24,843	12,099	24,843	24,843
Resource Capital Corp [Member] | Structured Notes [Member]	'	'	'	'	'
Schedule of Trading Securities and Other Trading Assets [Line Items]	'	'	'	'	'
Amortized Cost	8,554	9,413	8,554	9,413	'
Unrealized gain on trading securities	'	'	4,026	10,894	'
Unrealized Losses	'	'	-1,000	-1,028	'
Fair Value	11,580	19,279	11,580	19,279	'
Resource Capital Corp [Member] | RMBS [Member]	'	'	'	'	'
Schedule of Trading Securities and Other Trading Assets [Line Items]	'	'	'	'	'
Amortized Cost	1,934	6,047	1,934	6,047	'
Unrealized gain on trading securities	'	'	0	858	'
Unrealized Losses	'	'	-1,415	-1,341	'
Fair Value	$519	$5,564	$519	$5,564	'

RSO_INVESTMENT_SECURITIES_AVAI

RSO INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
	Security		Security		Security
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'	'
Other-than-temporary impairment on investments	'	'	$214,000	$74,000	'
Resource Capital Corp [Member]	'	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'	'
CMBS, at fair value	220,684,000	'	220,684,000	'	231,590,000
Other-than-temporary impairment on investments	'	'	802,000	180,000	'
Resource Capital Corp [Member] | CMBS	'	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'	'
Number of floating rate investment securities in a loss position for more than 12 months	9	'	9	'	19
CMBS, at fair value	187,800,000	'	187,800,000	'	170,800,000
Net unrealized gain (loss)	-6,500,000	'	-6,500,000	'	-12,000,000
Other-than-temporary impairment on investments	255,000	9,000	276,000	42,000	'
Excess of aggregate discount over aggregate premium	4,800,000	'	4,800,000	'	8,000,000
Resource Capital Corp [Member] | ABS	'	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'	'
Number of floating rate investment securities in a loss position for more than 12 months	9	'	9	'	9
Net unrealized gain (loss)	1,300,000	'	1,300,000	'	585,000
Fair value of fixed rate positions	27,600,000	'	27,600,000	'	26,500,000
Number of securities sold	0	2	0	5	'
Par value of securities sold	0	1,400,000	0	4,300,000	'
Recognized gain (loss) on sale	0	89,000	'	111,000	'
Excess of aggregate discount over aggregate premium	2,600,000	'	2,600,000	'	3,100,000
Resource Capital Corp [Member] | Corporate bonds	'	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'	'
Number of floating rate investment securities in a loss position for more than 12 months	0	'	0	'	0
Net unrealized gain (loss)	-62,000	'	-62,000	'	-78,000
Fair value of fixed rate positions	5,300,000	'	5,300,000	'	34,300,000
Number of securities sold	17	'	32	'	'
Par value of securities sold	30,000,000	'	33,000,000	'	'
Recognized gain (loss) on sale	-441,000	'	-432,000	'	'
Number of securities redeemed	'	'	2	1	'
Par value of securities redeemed	'	'	3,500,000	182,000	'
Recognized losses on redemptions	'	'	11,000	'	'
Recognized gains on redemptions	'	'	'	39,000	'
Investment Owned, Unrecognized Unrealized Depreciation	154,000	'	154,000	'	'
Investment Owned, Unrecognized Unrealized Appreciation	'	'	'	'	$608,000

RSO_INVESTMENT_SECURITIES_AVAI1

RSO INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Schedule of Available-for-Sale Securities, Fair Value) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	$5,178	$3,821
Unrealized Gains	1,227	1,390
Unrealized Losses	-319	0
Fair Value	6,086	5,211
Resource Capital Corp [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	225,960	243,074
Unrealized Gains	9,102	6,460
Unrealized Losses	-14,378	-17,944
Fair Value	220,684	231,590
Investment securities available-for-sale, pledged as collateral, at fair value	173,994	195,200
Resource Capital Corp [Member] | CMBS	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	194,268	182,828
Unrealized Gains	7,297	4,626
Unrealized Losses	-13,792	-16,639
Fair Value	187,773	170,815
Resource Capital Corp [Member] | ABS	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	26,317	25,885
Unrealized Gains	1,776	1,700
Unrealized Losses	-495	-1,115
Fair Value	27,598	26,470
Resource Capital Corp [Member] | Corporate bonds	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	5,375	34,361
Unrealized Gains	29	111
Unrealized Losses	-91	-190
Fair Value	5,313	34,282
Resource Capital Corp [Member] | Other asset-backed	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	0	0
Unrealized Gains	0	23
Unrealized Losses	0	0
Fair Value	$0	$23

RSO_INVESTMENT_SECURITIES_AVAI2

RSO INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Estimated Maturities of Available-For-Sale Securities) (Details) (Resource Capital Corp [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Resource Capital Corp [Member]	'	'
Fair Value	'	'
Less than one year	$42,561	$42,618
Greater than one year and less than five years	136,672	122,509
Greater than five years and less than ten years	37,088	61,780
Greater than ten years	4,363	4,683
Fair Value	220,684	231,590
Amortized Cost	'	'
Less than one year	45,731	46,522
Greater than one year and less than five years	138,629	131,076
Greater than five years and less than ten years	36,905	60,801
Greater than ten years	4,695	4,675
Amortized Cost	$225,960	$243,074
Weighted Average Coupon	'	'
Less than one year	4.97%	4.09%
Greater than one year and less than five years	4.67%	4.55%
Greater than five years and less than ten years	2.71%	3.31%
Greater than ten years	4.03%	4.03%
Weighted Average Coupon	4.39%	4.12%

RSO_INVESTMENT_SECURITIES_AVAI3

RSO INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Gross Unrealized Loss and Fair Value of Securities) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]	'	'
Fair value, less than 12 months, CMBS	$2,383	'
Fair value, more than 12 months	0	'
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses [Abstract]	'	'
Gross unrealized losses, less than 12 months	-319	'
Gross unrealized losses, more than 12 months	0	'
Resource Capital Corp [Member]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]	'	'
Fair value, less than 12 months, CMBS	66,016	45,248
Fair value, more than 12 months	18,713	44,695
Fair value, total	84,729	89,943
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses [Abstract]	'	'
Gross unrealized losses, less than 12 months	-8,426	-632
Gross unrealized losses, more than 12 months	-5,952	-17,312
Gross unrealized losses, total	-14,378	-17,944
Resource Capital Corp [Member] | CMBS linked transactions [Member]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]	'	'
Fair value, less than 12 months, CMBS	62,839	25,803
Fair value, more than 12 months	12,124	38,734
Fair value, total	74,963	64,537
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses [Abstract]	'	'
Gross unrealized losses, less than 12 months	-8,333	-442
Gross unrealized losses, more than 12 months	-5,459	-16,197
Gross unrealized losses, total	-13,792	-16,639
Resource Capital Corp [Member] | ABS	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]	'	'
Fair value, less than 12 months, CMBS	201	0
Fair value, more than 12 months	6,589	5,961
Fair value, total	6,790	5,961
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses [Abstract]	'	'
Gross unrealized losses, less than 12 months	-2	0
Gross unrealized losses, more than 12 months	-493	-1,115
Gross unrealized losses, total	-495	-1,115
Resource Capital Corp [Member] | Corporate bonds	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]	'	'
Fair value, less than 12 months, CMBS	2,976	19,445
Fair value, more than 12 months	0	0
Fair value, total	2,976	19,445
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses [Abstract]	'	'
Gross unrealized losses, less than 12 months	-91	-190
Gross unrealized losses, more than 12 months	0	0
Gross unrealized losses, total	($91)	($190)

RSO_INVESTMENTS_IN_REAL_ESTATE

RSO INVESTMENTS IN REAL ESTATE (Details) (Resource Capital Corp [Member], USD $)	3 Months Ended	9 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012
	Property	Property	Loan
	Loan
Real Estate Line Items [Line Items]	'	'	'
Number of Property Acquisitions	0	0	'
Number of real estate investments held for sale	1	'	'
Number of loans foreclosed	'	'	1
Foreclosed Coconut Grove Florida Property [Member]	'	'	'
Real Estate Line Items [Line Items]	'	'	'
Real estate acquired through foreclosure	'	'	25.5
Number of units in real estate property	'	'	179
Percentage occupied on acquisition (in hundredths)	'	'	75.00%

RSO_INVESTMENTS_IN_REAL_ESTATE1

RSO INVESTMENTS IN REAL ESTATE (Investments in Real Estate) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Investments in real estate	$17,128	$18,041
Resource Capital Corp [Member]	'	'
Book Value	58,064	77,936
Less: Accumulated depreciation	-2,920	-2,550
Investments in real estate	55,144	75,386
Resource Capital Corp [Member] | Multi-family property	'	'
Book Value	22,102	42,179
Number of Properties	1	2
Resource Capital Corp [Member] | Office property	'	'
Book Value	10,244	10,149
Number of Properties	1	1
Resource Capital Corp [Member] | Hotel property	'	'
Book Value	$25,718	$25,608
Number of Properties	1	1

RSO_INVESTMENTS_IN_REAL_ESTATE2

RSO INVESTMENTS IN REAL ESTATE (Summary of Aggregate Estimated Fair Value of Assets and Liabilities) (Details) (Resource Capital Corp [Member], USD $)	Dec. 31, 2012
In Thousands, unless otherwise specified
Resource Capital Corp [Member]	'
Assets acquired:	'
Investments in real estate	$25,500
Other assets	-89
Total assets acquired	25,411
Liabilities assumed:	'
Accounts payable and other liabilities	3,750
Total liabilities assumed	3,750
Estimated fair value of net assets acquired	$21,661

RSO_LOANS_HELD_FOR_INVESTMENT_

RSO LOANS HELD FOR INVESTMENT (Details) (Resource Capital Corp [Member], USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Receivables with Imputed Interest [Line Items]	'	'
Allowance for loan loss	12,865,000	17,691,000
Bank Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Loans held for sale, net	906,100,000	1,200,000,000
Allowance for loan loss	2,954,000	9,705,000
Whole Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Loans held for sale, net	'	34,000,000
Allowance for loan loss	9,214,000	6,920,000
Number of loans impaired	1	'
Increase (decrease) in allowance for loan losses	2,300,000	'
Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Allowance for loan loss	9,900,000	8,000,000
Number of loans impaired	1	4
Commercial Real Estate Loans [Member] | California [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Concentration of loan portfolio risk (in hundredths)	39.20%	47.70%
Commercial Real Estate Loans [Member] | Arizona [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Concentration of loan portfolio risk (in hundredths)	7.10%	7.90%
Commercial Real Estate Loans [Member] | Texas [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Concentration of loan portfolio risk (in hundredths)	14.80%	11.10%
Commercial Real Estate Loans [Member] | Industry Grouping of Healthcare, Education and Childcare [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Concentration of loan portfolio risk (in hundredths)	15.20%	13.20%
Bank Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Allowance for loan loss	3,000,000	9,705,000
Number of loans impaired	3	1
Increase (decrease) in allowance for loan losses	-6,800,000	'
Bank Loans [Member] | Minimum [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Variable rate basis	'three month London Interbank Offered Rate	'three month LIBOR
Basis spread on variable rate	'	1.50%
Bank Loans [Member] | Maximum [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Variable rate basis	'	'three month LIBOR
Basis spread on variable rate	10.00%	8.80%

RSO_LOANS_HELD_FOR_INVESTMENT_1

RSO LOANS HELD FOR INVESTMENT (Summary of Loans) (Details) (USD $)	Sep. 30, 2013	Jun. 30, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Dec. 31, 2011
Receivables with Imputed Interest [Line Items]	'	'	'	'	'	'
Allowance for loan loss	($35,760,000)	($34,616,000)	($32,628,000)	($27,613,000)	($21,274,000)	($12,604,000)
Resource Capital Corp [Member]	'	'	'	'	'	'
Receivables with Imputed Interest [Line Items]	'	'	'	'	'	'
Principal, Gross	1,659,789,000	'	1,887,825,000	'	'	'
Unamortized (discount) premium, gross	-8,834,000	'	-27,460,000	'	'	'
Gross carrying value of loans held for investment	1,650,955,000	'	1,860,365,000	'	'	'
Allowance for loan loss	-12,865,000	'	-17,691,000	'	'	-27,518,000
Unamortized (discount) premium, gross, allowance for loan loss	0	'	0	'	'	'
Carrying value, allowance for loan loss	-12,865,000	'	-17,691,000	'	'	'
Principal, Net	1,646,924,000	'	1,870,134,000	'	'	'
Unamortized (discount) premium, net	-8,834,000	'	-27,460,000	'	'	'
Net carrying value of loans held for investment	1,638,090,000	'	1,842,674,000	'	'	'
Deferred amendment fees	288,000	'	450,000	'	'	'
Loans held for sale, investment in debt and equity securities	332,400,000	'	14,900,000	'	'	'
Number of loans held for sale	'	'	2	'	'	'
Resource Capital Corp [Member] | Bank Loans [Member]	'	'	'	'	'	'
Receivables with Imputed Interest [Line Items]	'	'	'	'	'	'
Principal, Gross	914,676,000	'	1,218,563,000	'	'	'
Unamortized (discount) premium, gross	-5,648,000	'	-25,249,000	'	'	'
Gross carrying value of loans held for investment	909,028,000	'	1,193,314,000	'	'	'
Deferred upfront fee	260,000	'	334,000	'	'	'
Loans held for sale, net	906,100,000	'	1,200,000,000	'	'	'
Resource Capital Corp [Member] | Whole Loans [Member]	'	'	'	'	'	'
Receivables with Imputed Interest [Line Items]	'	'	'	'	'	'
Loans held for sale, net	'	'	34,000,000	'	'	'
Resource Capital Corp [Member] | Commercial Real Estate Loans [Member]	'	'	'	'	'	'
Receivables with Imputed Interest [Line Items]	'	'	'	'	'	'
Principal, Gross	745,113,000	'	669,262,000	'	'	'
Unamortized (discount) premium, gross	-3,186,000	'	-2,211,000	'	'	'
Gross carrying value of loans held for investment	741,927,000	'	667,051,000	'	'	'
Loan origination fees	2,900,000	'	1,900,000	'	'	'
Extension and exit fees	189,000	'	214,000	'	'	'
Resource Capital Corp [Member] | Commercial Real Estate Loans [Member] | Whole Loans [Member]	'	'	'	'	'	'
Receivables with Imputed Interest [Line Items]	'	'	'	'	'	'
Principal, Gross	671,118,000	'	569,829,000	'	'	'
Unamortized (discount) premium, gross	-3,003,000	'	-1,891,000	'	'	'
Gross carrying value of loans held for investment	668,115,000	'	567,938,000	'	'	'
Resource Capital Corp [Member] | Commercial Real Estate Loans [Member] | B Notes [Member]	'	'	'	'	'	'
Receivables with Imputed Interest [Line Items]	'	'	'	'	'	'
Principal, Gross	16,328,000	'	16,441,000	'	'	'
Unamortized (discount) premium, gross	-90,000	'	-114,000	'	'	'
Gross carrying value of loans held for investment	16,238,000	'	16,327,000	'	'	'
Resource Capital Corp [Member] | Commercial Real Estate Loans [Member] | Mezzanine Loans [Member]	'	'	'	'	'	'
Receivables with Imputed Interest [Line Items]	'	'	'	'	'	'
Principal, Gross	57,667,000	'	82,992,000	'	'	'
Unamortized (discount) premium, gross	-93,000	'	-206,000	'	'	'
Gross carrying value of loans held for investment	$57,574,000	'	$82,786,000	'	'	'

RSO_LOANS_HELD_FOR_INVESTMENT_2

RSO LOANS HELD FOR INVESTMENT (Weighted Average Life of Bank Loans, at Amortized Cost) (Details) (Resource Capital Corp [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Bank Loans Held for Sale [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Less than one year	$4,600	'
Greater than one year and less than five years	157,400	'
Five years or greater	170,300	'
Bank Loans [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Less than one year	29,008	10,028
Greater than one year and less than five years	574,042	821,568
Five years or greater	305,978	361,718
Total	$909,028	$1,193,314

RSO_LOANS_HELD_FOR_INVESTMENT_3

RSO LOANS HELD FOR INVESTMENT (Commercial Real Estate Loans Held for Investment) (Details) (Resource Capital Corp [Member], USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Receivables with Imputed Interest [Line Items]	'	'
Allowance for loan loss	12,865,000	17,691,000
Number of loans held for sale	'	2
Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Quantity	52	43
Amortized Cost	741,927,000	667,051,000
Allowance for loan loss	9,900,000	8,000,000
Whole Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Allowance for loan loss	9,214,000	6,920,000
Loans held for sale, net	'	34,000,000
Whole Loans [Member] | Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Amortized Cost	668,115,000	567,938,000
Fixed contractual interest in floating rate whole loan	'	15.00%
Whole Loans, Floating Rate [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Loans held for investment, unfunded loan commitments	6,600,000	8,900,000
Whole Loans, Floating Rate [Member] | Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Quantity	47	37
Amortized Cost	668,115,000	567,938,000
The amortized cost of loans held for investments, fixed rate whole loans included in floating rate whole loans.	'	2,000,000
Whole Loans, Floating Rate [Member] | Minimum [Member] | Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Maturity Dates	'December 2013	'June 2013
Variable rate basis	'LIBOR	'LIBOR
Basis spread on variable rate	2.50%	2.50%
Whole Loans, Floating Rate [Member] | Maximum [Member] | Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Maturity Dates	'August 2019	'February 2019
Variable rate basis	'LIBOR	'LIBOR
Basis spread on variable rate	8.00%	5.50%
B Notes [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Allowance for loan loss	166,000	206,000
B Notes [Member] | Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Amortized Cost	16,238,000	16,327,000
B Notes, Fixed Rate [Member] | Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Quantity	1	1
Amortized Cost	16,238,000	16,327,000
Stated interest rate	8.68%	8.68%
Maturity Dates	'April 2016	'April 2016
Mezzanine Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Allowance for loan loss	531,000	860,000
Mezzanine Loans [Member] | Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Amortized Cost	57,574,000	82,786,000
Mezzanine Loans, Floating Rate [Member] | Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Quantity	'	2
Amortized Cost	'	15,845,000
Mezzanine Loans, Floating Rate [Member] | Minimum [Member] | Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Maturity Dates	'	'August 2013
Variable rate basis	'	'LIBOR
Basis spread on variable rate	'	2.50%
Mezzanine Loans, Floating Rate [Member] | Maximum [Member] | Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Maturity Dates	'	'December 2013
Variable rate basis	'	'LIBOR
Basis spread on variable rate	'	7.45%
Mezzanine Loans, Fixed Rate [Member] | Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Quantity	4	3
Amortized Cost	57,574,000	66,941,000
Number of loan tranches	2	'
Mezzanine Loans, Fixed Rate [Member] | Minimum [Member] | Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Stated interest rate	0.50%	0.50%
Maturity Dates	'December 2014	'September 2014
Mezzanine Loans, Fixed Rate [Member] | Maximum [Member] | Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Stated interest rate	20.00%	20.00%
Maturity Dates	'September 2019	'September 2019
Mezzanine Loans, Fixed Rate, Tranche One [Member] | Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Stated interest rate	0.50%	'
Mezzanine Loans, Fixed Rate, Tranche Two [Member] | Commercial Real Estate Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Stated interest rate	0.50%	'
Variable rate basis	'LIBOR	'
Basis spread on variable rate	18.50%	'
Not included in total [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Allowance for loan loss	9,900,000	8,000,000

RSO_LOANS_HELD_FOR_INVESTMENT_4

RSO LOANS HELD FOR INVESTMENT (Weighted Average Life of Commercial Real Estate Loans, at Amortized Cost) (Details) (Resource Capital Corp [Member], Commercial Real Estate Loans [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Receivables with Imputed Interest [Line Items]	'	'
2013	$4,067	$77,127
2014	11,398	20,694
2015 and thereafter	726,462	569,230
Total	741,927	667,051
B Notes [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
2013	0	0
2014	0	0
2015 and thereafter	16,238	16,327
Total	16,238	16,327
Mezzanine Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
2013	0	5,328
2014	11,398	20,694
2015 and thereafter	46,176	56,764
Total	57,574	82,786
Whole Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
2013	4,067	71,799
2014	0	0
2015 and thereafter	664,048	496,139
Total	$668,115	$567,938

RSO_LOANS_HELD_FOR_INVESTMENT_5

RSO LOANS HELD FOR INVESTMENT (Allocation of Allowance for Loan Loss for Commercial and Bank Loans) (Details) (Resource Capital Corp [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Receivables with Imputed Interest [Line Items]	'	'
Allowance for Loan Loss	$12,865	$17,691
B Notes [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Allowance for Loan Loss	166	206
Percentage of Total Allowance	1.29%	1.16%
Mezzanine Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Allowance for Loan Loss	531	860
Percentage of Total Allowance	4.12%	4.86%
Whole Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Allowance for Loan Loss	9,214	6,920
Percentage of Total Allowance	71.63%	39.12%
Bank Loans [Member]	'	'
Receivables with Imputed Interest [Line Items]	'	'
Allowance for Loan Loss	$2,954	$9,705
Percentage of Total Allowance	22.96%	54.86%

RSO_INVESTMENTS_IN_UNCONSOLIDA

RSO INVESTMENTS IN UNCONSOLIDATED ENTITIES (Details) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

5 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Jan. 31, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Nov. 16, 2011

Nov. 16, 2011

Nov. 16, 2011

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Jun. 19, 2012

Dec. 01, 2009

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Dec. 31, 2012

Jun. 19, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Dec. 01, 2009

Dec. 01, 2009

Sep. 30, 2012

Nov. 16, 2011

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Jul. 31, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Jun. 19, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Dec. 31, 2012

Nov. 16, 2011

Sep. 30, 2013

Dec. 31, 2012

Jan. 18, 2013

Nov. 16, 2011

Nov. 16, 2011

Sep. 30, 2013

Nov. 16, 2011

Jan. 18, 2013

Sep. 30, 2013

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Interest in RCT I and RCT II [Member]

Interest in RCT I and RCT II [Member]

Interest in RCT I and RCT II [Member]

Interest in RCT I and RCT II [Member]

Interest in RCT I [Member]

Interest in RCT II [Member]

Varde Investment Partners, LP [Member]

Varde Investment Partners, LP [Member]

Varde Investment Partners, LP [Member]

Varde Investment Partners, LP [Member]

Varde Investment Partners, LP [Member]

RRE VIP Borrower, LLC [Member]

RRE VIP Borrower, LLC [Member]

RRE VIP Borrower, LLC [Member]

RRE VIP Borrower, LLC [Member]

RRE VIP Borrower, LLC [Member]

RRE VIP Borrower, LLC [Member]

RRE VIP Borrower, LLC [Member]

Varde Investment Partners, LP [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

trust

trust

Preferred Shares - Series A [Member]

Preferred Shares - Series B [Member]

Series D Preferred Stock [Member]

CVC Credit Partners, LLC [Member]

Resource Real Estate [Member]

Resource Real Estate [Member]

Resource Real Estate [Member]

Resource Real Estate [Member]

Varde Investment Partners, LP [Member]

RRE VIP Borrower, LLC [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

CVC Global Credit Opportunities Fund, LP [Member]

Interest in RCT II [Member]

CVC Global Credit Opportunities Fund, LP [Member]

CVC Global Credit Opportunities Fund, LP [Member]

CVC Global Credit Opportunities Fund, LP [Member]

Life Care Funding, LLC [Member]

Life Care Funding, LLC [Member]

Varde Investment Partners, LP [Member]

Varde Investment Partners, LP [Member]

Varde Investment Partners, LP [Member]

Varde Investment Partners, LP [Member]

Varde Investment Partners, LP [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

LEAF Commercial Capital Inc [Member]

Property

Resource Real Estate [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Preferred Shares - Series A [Member]

Preferred Shares - Series A [Member]

Preferred Shares - Series B [Member]

Preferred Shares - Series B [Member]

Series D Preferred Stock [Member]

Series A-1 Preferred Stock [Member]

Series E Preferred Stock [Member]

Schedule of Equity Method Investments [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Equity contribution to VIE

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$15,000,000

'

'

$15,000,000

'

'

$2,000,000

'

'

'

'

'

'

'

'

$3,700,000

'

'

'

'

'

$3,300,000

Asset management fees percentage (in hundredths)

'

'

'

'

'

'

'

'

'

'

'

'

'

1.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Equity in earnings (losses) of unconsolidated entities

1,384,000

2,938,000

2,528,000

2,882,000

'

-505,000

-779,000

-858,000

-1,469,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,000

-100,000

49,000

'

'

-521,000

346,000

-735,000

931,000

'

'

'

-100,000

'

-346,000

-1,000,000

-378,000

-2,300,000

'

'

433,000

'

526,000

-107,000

-349,000

'

6,000

-100,000

49,000

'

'

'

'

'

'

'

'

'

'

'

Investments in unconsolidated entities

'

'

'

'

'

72,955,000

'

72,955,000

'

45,413,000

'

'

'

'

'

'

'

'

'

2,100,000

1,500,000

'

1,500,000

'

774,000

774,000

575,000

'

575,000

526,000

'

-330,000

'

-330,000

'

2,300,000

'

'

'

36,300,000

'

'

'

'

15,500,000

'

15,500,000

'

15,500,000

1,700,000

1,700,000

'

575,000

'

575,000

526,000

'

40,800,000

33,100,000

'

'

'

'

'

'

'

Number of condominium developments purchased by joint venture

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Ownership percentage (in hundredths)

'

'

'

'

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

7.50%

'

100.00%

'

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares of stock received (in shares)

'

'

'

'

'

'

'

'

'

'

31,341

4,872

2,364

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred stock, coupon authorized (in hundredths)

'

'

'

'

'

'

'

'

'

'

'

8.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

8.00%

'

'

'

Ownership percentage in VIE

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

34.40%

'

'

7.50%

'

'

'

'

26.70%

27.50%

'

'

'

'

'

'

'

'

Loss on transaction

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares received in equity method transaction (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

31,341

4,872

'

2,364

3,682

3,323

Accrued Dividends on Preferred Stock Investment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

207,000

Asset acquisition funding minimum

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Asset acquisition funding maximum

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Management fees b related party

'

'

'

'

'

5,113,000

5,521,000

11,006,000

13,512,000

'

'

'

'

'

6,500

11,000

23,000

35,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Ownership percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.00%

'

3.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of trusts

'

'

'

'

'

2

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Related party interest expense

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

604,000

626,000

1,800,000

1,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amortization of deferred debt issuance costs

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$48,000

$46,000

$143,000

$136,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

RSO_FINANCING_RECEIVABLES_Deta

RSO FINANCING RECEIVABLES (Details) (Resource Capital Corp [Member], USD $)	0 Months Ended			3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2013
	Loan	Loan	Loan	Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'
Loans and receivables	$1,870,134	'	'	$1,646,924
Bank Loans [Member]	'	'	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'
Loans and receivables	1,193,314	'	'	909,028
Bank Loans [Member] | Nonperforming Financing Receivable [Member]	'	'	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'
Number of defaulted loans	5	'	'	3
Loans and receivables	$5,400	'	'	$3,600
Number of loans that defaulted during the period	1	3	1	0

RSO_FINANCING_RECEIVABLES_Allo

RSO FINANCING RECEIVABLES (Allowance for Loan Losses and Recorded Investments in Loans) (Details) (USD $)	3 Months Ended	9 Months Ended				9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Jun. 30, 2012	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2012
						Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]
								Commercial Portfolio Segment [Member]	Commercial Portfolio Segment [Member]	Bank Loans [Member]	Bank Loans [Member]	Loans Receivable - Related Party [Member]	Loans Receivable - Related Party [Member]
Activity in the allowance for credit losses of financing receivables [Roll Forward]	'	'	'	'	'	'	'	'	'	'	'	'	'
Balance, beginning of period	$34,616	$32,628	$12,604	'	$21,274	$17,691	$27,518	$7,986	$24,221	$9,705	$3,297	$0	$0
Provision (benefit) for loan loss	'	'	'	'	'	541	16,818	2,017	5,225	-1,476	11,593	0	0
Loans charged-off	-682	-706	0	'	'	-5,367	-26,645	-92	-21,460	-5,275	-5,185	0	0
Balance, end of period	35,760	35,760	27,613	'	21,274	12,865	17,691	9,911	7,986	2,954	9,705	0	0
Allowance for losses, ending balance:	'	'	'	'	'	'	'	'	'	'	'	'	'
Individually evaluated for impairment	35,728	35,728	27,580	'	'	5,949	5,378	4,067	2,142	1,882	3,236	0	0
Collectively evaluated for impairment	32	32	33	'	'	6,916	12,313	5,844	5,844	1,072	6,469	0	0
Loans acquired with deteriorated credit quality	'	'	'	'	'	0	0	0	0	0	0	0	0
Loans, ending balance:	'	'	'	'	'	'	'	'	'	'	'	'	'
Ending balance, individually evaluated for impairment	66,016	66,016	'	63,178	'	202,720	190,068	191,100	177,055	3,553	4,689	8,067	8,324
Ending balance, collectively evaluated for impairment	100	100	'	112	'	1,456,302	1,677,870	550,827	489,996	905,475	1,187,874	0	0
Ending balance, loans acquired with deteriorated credit quality	'	'	'	'	'	$0	$751	$0	$0	$0	$751	$0	$0

RSO_FINANCING_RECEIVABLES_Cred

RSO FINANCING RECEIVABLES (Credit Risk Profiles of Bank Loans) (Details) (Resource Capital Corp [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Loans and receivables	$1,646,924	$1,870,134
Bank Loans [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Loans and receivables	909,028	1,193,314
Bank Loans [Member] | Rating 1 [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Loans and receivables	514,277	1,095,148
Bank Loans [Member] | Rating 2 [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Loans and receivables	39,123	33,677
Bank Loans [Member] | Rating 3 [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Loans and receivables	16,206	27,837
Bank Loans [Member] | Rating 4 [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Loans and receivables	3,518	16,318
Bank Loans [Member] | Rating 5 [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Loans and receivables	3,553	5,440
Bank Loans [Member] | Held for Sale [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Loans and receivables	$332,351	$14,894

RSO_FINANCING_RECEIVABLES_Cred1

RSO FINANCING RECEIVABLES (Credit Risk Profiles of Commercial Real Estate Loans) (Details) (Resource Capital Corp [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	$1,646,924	$1,870,134
Commercial Portfolio Segment [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	741,927	667,051
Commercial Portfolio Segment [Member] | Rating 1 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	664,917	482,079
Commercial Portfolio Segment [Member] | Rating 2 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	44,943	0
Commercial Portfolio Segment [Member] | Rating 3 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	32,067	150,972
Commercial Portfolio Segment [Member] | Rating 4 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	0	0
Commercial Portfolio Segment [Member] | Held for Sale [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	0	34,000
Whole Loans [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	668,115	567,938
Whole Loans [Member] | Rating 1 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	591,105	427,456
Whole Loans [Member] | Rating 2 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	44,943	0
Whole Loans [Member] | Rating 3 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	32,067	106,482
Whole Loans [Member] | Rating 4 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	0	0
Whole Loans [Member] | Held for Sale [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	0	34,000
B Notes [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	16,238	16,327
B Notes [Member] | Rating 1 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	16,238	16,327
B Notes [Member] | Rating 2 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	0	0
B Notes [Member] | Rating 3 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	0	0
B Notes [Member] | Rating 4 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	0	0
B Notes [Member] | Held for Sale [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	0	0
Mezzanine Loans [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	57,574	82,786
Mezzanine Loans [Member] | Rating 1 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	57,574	38,296
Mezzanine Loans [Member] | Rating 2 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	0	0
Mezzanine Loans [Member] | Rating 3 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	0	44,490
Mezzanine Loans [Member] | Rating 4 [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	0	0
Mezzanine Loans [Member] | Held for Sale [Member]	'	'
Schedule Of Financing Receivables [Line Items]	'	'
Loans and receivables	$0	$0

RSO_FINANCING_RECEIVABLES_Loan

RSO FINANCING RECEIVABLES (Loan Portfolio Aging Analysis as of the Dates Indicated at Cost Basis) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Financing Receivable, Recorded Investment, Past Due [Line Items]	'	'
Greater than 90 Days	$922	$754
Total Past Due	61,788	58,863
Current	4,328	4,427
Resource Capital Corp [Member]	'	'
Financing Receivable, Recorded Investment, Past Due [Line Items]	'	'
30-59 Days	0	1,549
60-89 Days	0	0
Greater than 90 Days	3,553	3,891
Total Past Due	3,553	5,440
Current	1,655,469	1,863,249
Total Loans Receivable	1,659,022	1,868,689
Total Loans Greater Than 90 Days and Accruing	0	0
Resource Capital Corp [Member] | Whole Loans [Member]	'	'
Financing Receivable, Recorded Investment, Past Due [Line Items]	'	'
30-59 Days	0	0
60-89 Days	0	0
Greater than 90 Days	0	0
Total Past Due	0	0
Current	668,115	567,938
Total Loans Receivable	668,115	567,938
Total Loans Greater Than 90 Days and Accruing	0	0
Resource Capital Corp [Member] | B Notes [Member]	'	'
Financing Receivable, Recorded Investment, Past Due [Line Items]	'	'
30-59 Days	0	0
60-89 Days	0	0
Greater than 90 Days	0	0
Total Past Due	0	0
Current	16,238	16,327
Total Loans Receivable	16,238	16,327
Total Loans Greater Than 90 Days and Accruing	0	0
Resource Capital Corp [Member] | Mezzanine Loans [Member]	'	'
Financing Receivable, Recorded Investment, Past Due [Line Items]	'	'
30-59 Days	0	0
60-89 Days	0	0
Greater than 90 Days	0	0
Total Past Due	0	0
Current	57,574	82,786
Total Loans Receivable	57,574	82,786
Total Loans Greater Than 90 Days and Accruing	0	0
Resource Capital Corp [Member] | Bank Loans [Member]	'	'
Financing Receivable, Recorded Investment, Past Due [Line Items]	'	'
30-59 Days	0	1,549
60-89 Days	0	0
Greater than 90 Days	3,553	3,891
Total Past Due	3,553	5,440
Current	905,475	1,187,874
Total Loans Receivable	909,028	1,193,314
Total Loans Greater Than 90 Days and Accruing	0	0
Resource Capital Corp [Member] | Loans Receivable - Related Party [Member]	'	'
Financing Receivable, Recorded Investment, Past Due [Line Items]	'	'
30-59 Days	0	0
60-89 Days	0	0
Greater than 90 Days	0	0
Total Past Due	0	0
Current	8,067	8,324
Total Loans Receivable	8,067	8,324
Total Loans Greater Than 90 Days and Accruing	$0	$0

RSO_FINANCING_RECEIVABLES_Impa

RSO FINANCING RECEIVABLES (Impaired Loans) (Details) (Resource Capital Corp [Member], USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Financing Receivable, Impaired [Line Items]	'	'
Net Balance	$200,577,000	$189,249,000
Unpaid Principal Balance	200,577,000	189,249,000
Specific Allowance	-5,949,000	-5,378,000
Average Investment in Impaired Loans	184,005,000	175,330,000
Interest Income Recognized	10,075,000	5,455,000
Whole Loans [Member]	'	'
Financing Receivable, Impaired [Line Items]	'	'
Loans without a specific valuation allowance, Recorded balance	127,961,000	115,841,000
Loans with a specific valuation allowance, Recorded balance	25,067,000	23,142,000
Net Balance	153,028,000	138,983,000
Loans without a specific valuation allowance, Unpaid Principal Balance	127,961,000	115,841,000
Loans with a specific valuation allowance, Unpaid Principal Balance	25,067,000	23,142,000
Unpaid Principal Balance	153,028,000	138,983,000
Specific Allowance	-4,067,000	-2,142,000
Loans without a specific valuation allowance, Average Investment in Impaired Loans	121,371,000	114,682,000
Loans with specific valuation allowance, Average Investment in Impaired Loans	24,562,000	22,576,000
Average Investment in Impaired Loans	145,933,000	137,258,000
Loans without a specific valuation allowance, Interest Income Recognized	6,951,000	3,436,000
Loans with a specific valuation allowance, Interest Income Recognized	1,824,000	801,000
Interest Income Recognized	8,775,000	4,237,000
B Notes [Member]	'	'
Financing Receivable, Impaired [Line Items]	'	'
Loans without a specific valuation allowance, Recorded balance	0	0
Loans with a specific valuation allowance, Recorded balance	0	0
Net Balance	0	0
Loans without a specific valuation allowance, Unpaid Principal Balance	0	0
Loans with a specific valuation allowance, Unpaid Principal Balance	0	0
Unpaid Principal Balance	0	0
Specific Allowance	0	0
Loans without a specific valuation allowance, Average Investment in Impaired Loans	0	0
Loans with specific valuation allowance, Average Investment in Impaired Loans	0	0
Average Investment in Impaired Loans	0	0
Loans without a specific valuation allowance, Interest Income Recognized	0	0
Loans with a specific valuation allowance, Interest Income Recognized	0	0
Interest Income Recognized	0	0
Mezzanine Loans [Member]	'	'
Financing Receivable, Impaired [Line Items]	'	'
Loans without a specific valuation allowance, Recorded balance	38,072,000	38,072,000
Loans with a specific valuation allowance, Recorded balance	0	0
Net Balance	38,072,000	38,072,000
Loans without a specific valuation allowance, Unpaid Principal Balance	38,072,000	38,072,000
Loans with a specific valuation allowance, Unpaid Principal Balance	0	0
Unpaid Principal Balance	38,072,000	38,072,000
Specific Allowance	0	0
Loans without a specific valuation allowance, Average Investment in Impaired Loans	38,072,000	38,072,000
Loans with specific valuation allowance, Average Investment in Impaired Loans	0	0
Average Investment in Impaired Loans	38,072,000	38,072,000
Loans without a specific valuation allowance, Interest Income Recognized	1,300,000	367,000
Loans with a specific valuation allowance, Interest Income Recognized	0	0
Interest Income Recognized	1,300,000	367,000
Bank Loans [Member]	'	'
Financing Receivable, Impaired [Line Items]	'	'
Loans without a specific valuation allowance, Recorded balance	0	0
Loans with a specific valuation allowance, Recorded balance	3,553,000	5,440,000
Net Balance	3,553,000	5,440,000
Loans without a specific valuation allowance, Unpaid Principal Balance	0	0
Loans with a specific valuation allowance, Unpaid Principal Balance	3,553,000	5,440,000
Unpaid Principal Balance	3,553,000	5,440,000
Specific Allowance	-1,882,000	-3,236,000
Loans without a specific valuation allowance, Average Investment in Impaired Loans	0	0
Loans with specific valuation allowance, Average Investment in Impaired Loans	0	0
Average Investment in Impaired Loans	0	0
Loans without a specific valuation allowance, Interest Income Recognized	0	0
Loans with a specific valuation allowance, Interest Income Recognized	0	0
Interest Income Recognized	0	0
Loans Receivable - Related Party [Member]	'	'
Financing Receivable, Impaired [Line Items]	'	'
Loans without a specific valuation allowance, Recorded balance	5,924,000	6,754,000
Loans with a specific valuation allowance, Recorded balance	0	0
Net Balance	5,924,000	6,754,000
Loans without a specific valuation allowance, Unpaid Principal Balance	5,924,000	6,754,000
Loans with a specific valuation allowance, Unpaid Principal Balance	0	0
Unpaid Principal Balance	5,924,000	6,754,000
Specific Allowance	0	0
Loans without a specific valuation allowance, Average Investment in Impaired Loans	0	0
Loans with specific valuation allowance, Average Investment in Impaired Loans	0	0
Average Investment in Impaired Loans	0	0
Loans without a specific valuation allowance, Interest Income Recognized	0	851,000
Loans with a specific valuation allowance, Interest Income Recognized	0	0
Interest Income Recognized	$0	$851,000

RSO_FINANCING_RECEIVABLES_Loan1

RSO FINANCING RECEIVABLES (Loan Portfolio Troubled-debt Restructurings) (Details) (Resource Capital Corp [Member], USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
	Loan	Loan	Loan	Loan
Troubled debt restructuring [Abstract]	'	'	'	'
Number of Loans	2	3	5	7
Pre-Modification Outstanding Recorded Balance	$48,374	$80,622	$111,294	$214,577
Post-Modification Outstanding Recorded Balance	52,716	80,622	115,636	197,291
Whole Loans [Member]	'	'	'	'
Troubled debt restructuring [Abstract]	'	'	'	'
Number of Loans	2	2	4	5
Pre-Modification Outstanding Recorded Balance	48,374	42,550	104,702	168,708
Post-Modification Outstanding Recorded Balance	52,716	42,550	109,044	151,422
B Notes [Member]	'	'	'	'
Troubled debt restructuring [Abstract]	'	'	'	'
Number of Loans	0	0	0	0
Pre-Modification Outstanding Recorded Balance	0	0	0	0
Post-Modification Outstanding Recorded Balance	0	0	0	0
Mezzanine Loans [Member]	'	'	'	'
Troubled debt restructuring [Abstract]	'	'	'	'
Number of Loans	0	1	0	1
Pre-Modification Outstanding Recorded Balance	0	38,072	0	38,072
Post-Modification Outstanding Recorded Balance	0	38,072	0	38,072
Bank Loans [Member]	'	'	'	'
Troubled debt restructuring [Abstract]	'	'	'	'
Number of Loans	0	0	0	0
Pre-Modification Outstanding Recorded Balance	0	0	0	0
Post-Modification Outstanding Recorded Balance	0	0	0	0
Loans Receivable	'	'	'	'
Troubled debt restructuring [Abstract]	'	'	'	'
Number of Loans	'	0	'	0
Pre-Modification Outstanding Recorded Balance	'	0	'	0
Post-Modification Outstanding Recorded Balance	'	0	'	0
Loans Receivable - Related Party [Member]	'	'	'	'
Troubled debt restructuring [Abstract]	'	'	'	'
Number of Loans	0	0	1	1
Pre-Modification Outstanding Recorded Balance	0	0	6,592	7,797
Post-Modification Outstanding Recorded Balance	$0	$0	$6,592	$7,797

RSO_INTANGIBLE_ASSETS_Details

RSO INTANGIBLE ASSETS (Details) (USD $)

3 Months Ended

9 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

9 Months Ended

1 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Oct. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Oct. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

31-May-13

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Investment in RCAM [Member]

Investment in RCAM [Member]

Investment in RCAM [Member]

Investment in RCAM [Member]

Investment in RCAM [Member]

Depreciation and Amortization [Member]

Whitney CLO I, Ltd. [Member]

Whitney CLO I, Ltd. [Member]

Whitney CLO I, Ltd. [Member]

Whitney CLO I, Ltd. [Member]

VIE, Primary Beneficiary [Member]

VIE, Primary Beneficiary [Member]

Acquired Finite-Lived Intangible Assets [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred equity acquired

'

'

'

'

66.60%

'

'

'

'

'

'

'

'

'

'

'

66.60%

'

'

'

Write-off of unamortized balance of intangible asset

'

'

'

'

$2,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Ownership interests in variable interest entities (in hundredths)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

66.60%

68.30%

68.30%

68.30%

Depreciation and amortization

413,000

529,000

1,318,000

1,592,000

'

904,000

1,249,000

3,041,000

3,974,000

'

'

'

'

'

'

657,000

'

'

'

'

Expected amortization, 2013

'

'

'

'

'

1,900,000

'

1,900,000

'

'

'

'

'

'

'

'

'

'

'

'

Expected amortization, 2014

'

'

'

'

'

1,800,000

'

1,800,000

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average amortization period (in years)

'

'

'

'

'

'

'

'8 years

'

'8 years 8 months 12 days

'

'

'

'

'

'

'

'

'

'

Accumulated amortization

'

'

'

'

'

11,975,000

'

11,975,000

'

10,511,000

9,526,000

'

9,526,000

'

8,108,000

'

'

'

'

'

Fee income

'

'

'

'

'

$1,245,000

$1,777,000

$4,182,000

$5,528,000

'

$1,200,000

$1,800,000

$4,200,000

$5,400,000

'

'

'

'

'

'

RSO_INTANGIBLE_ASSETS_Summary_

RSO INTANGIBLE ASSETS (Summary of Intangible Assets) (Details) (Resource Capital Corp [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Finite-Lived Intangible Assets [Line Items]	'	'
Beginning Balance	$23,703	$23,703
Accumulated Amortization	-11,975	-10,511
Net Asset	11,728	13,192
Investment in RCAM [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Beginning Balance	21,213	21,213
Accumulated Amortization	-9,526	-8,108
Net Asset	11,687	13,105
Investments in Real Estate [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Beginning Balance	2,490	2,490
Accumulated Amortization	-2,449	-2,403
Net Asset	41	87
Investments in Real Estate [Member] | In Place Leases [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Beginning Balance	2,461	2,461
Accumulated Amortization	-2,421	-2,379
Net Asset	40	82
Investments in Real Estate [Member] | Above (Below) Market Leases [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Beginning Balance	29	29
Accumulated Amortization	-28	-24
Net Asset	$1	$5

RSO_BORROWINGS_Schedule_of_Deb

RSO BORROWINGS (Schedule of Debt) (Details) (Resource Capital Corp [Member], USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Debt Instrument [Line Items]	'	'
Outstanding Borrowings	$1,422,430	$1,785,600
Weighted Average Borrowing Rate	1.73%	1.62%
Weighted Average Remaining Maturity	'9 years 7 months	'12 years 6 months
Value of Collateral	1,754,093	2,089,296
RREF CDO 2006-1 Senior Notes [Member]	'	'
Debt Instrument [Line Items]	'	'
Outstanding Borrowings	95,151	145,664
Weighted Average Borrowing Rate	1.86%	1.42%
Weighted Average Remaining Maturity	'32 years 11 months	'33 years 7 months
Value of Collateral	170,255	295,759
RREF CDO 2007-1 Senior Notes [Member]	'	'
Debt Instrument [Line Items]	'	'
Outstanding Borrowings	178,575	225,983
Weighted Average Borrowing Rate	0.85%	0.81%
Weighted Average Remaining Maturity	'33 years 0 months	'33 years 9 months
Value of Collateral	325,551	292,980
Apidos CDO I Senior Notes [Member]	'	'
Debt Instrument [Line Items]	'	'
Outstanding Borrowings	101,827	202,969
Weighted Average Borrowing Rate	1.53%	1.07%
Weighted Average Remaining Maturity	'3 years 9 months	'4 years 7 months
Value of Collateral	117,827	217,745
Apidos CDO III Senior Notes [Member]	'	'
Debt Instrument [Line Items]	'	'
Outstanding Borrowings	145,875	221,304
Weighted Average Borrowing Rate	0.86%	0.80%
Weighted Average Remaining Maturity	'6 years 8 months	'7 years 6 months
Value of Collateral	157,009	232,655
Apidos Cinco CDO Senior Notes [Member]	'	'
Debt Instrument [Line Items]	'	'
Outstanding Borrowings	320,997	320,550
Weighted Average Borrowing Rate	0.77%	0.82%
Weighted Average Remaining Maturity	'6 years 7 months	'7 years 5 months
Value of Collateral	339,154	344,105
Apidos CLO VIII Senior Notes [Member]	'	'
Debt Instrument [Line Items]	'	'
Outstanding Borrowings	302,916	300,951
Weighted Average Borrowing Rate	2.09%	2.16%
Weighted Average Remaining Maturity	'17 days	'8 years 9 months
Value of Collateral	351,434	351,014
Apidos CLO VIII Securitized Borrowings [Member]	'	'
Debt Instrument [Line Items]	'	'
Outstanding Borrowings	18,444	20,047
Weighted Average Borrowing Rate	14.13%	15.27%
Weighted Average Remaining Maturity	'17 days	'8 years 9 months
Value of Collateral	0	0
Whitney CLO I Senior Notes [Member]	'	'
Debt Instrument [Line Items]	'	'
Outstanding Borrowings	0	171,555
Weighted Average Borrowing Rate	0.00%	1.82%
Weighted Average Remaining Maturity	'	'4 years 2 months
Value of Collateral	8,573	191,704
Whitney CLO I Securitized Borrowings [Member]	'	'
Debt Instrument [Line Items]	'	'
Outstanding Borrowings	2,424	5,860
Weighted Average Borrowing Rate	5.78%	9.50%
Weighted Average Remaining Maturity	'	'4 years 2 months
Value of Collateral	0	0
Unsecured Junior Subordinated Debentures [Member]	'	'
Debt Instrument [Line Items]	'	'
Outstanding Borrowings	50,956	50,814
Weighted Average Borrowing Rate	4.22%	4.26%
Weighted Average Remaining Maturity	'22 years 11 months	'23 years 8 months
Value of Collateral	0	0
Repurchase Agreements [Member]	'	'
Debt Instrument [Line Items]	'	'
Outstanding Borrowings	205,265	106,303
Weighted Average Borrowing Rate	2.29%	2.28%
Weighted Average Remaining Maturity	'18 days	'18 days
Value of Collateral	284,290	145,234
Mortgage Payable [Member]	'	'
Debt Instrument [Line Items]	'	'
Outstanding Borrowings	'	13,600
Weighted Average Borrowing Rate	'	4.17%
Weighted Average Remaining Maturity	'	'5 years 7 months
Value of Collateral	'	$18,100

RSO_BORROWINGS_Schedule_of_Deb1

RSO BORROWINGS (Schedule of Debt - Parenthetical) (Details) (Resource Capital Corp [Member], USD $)

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

CMBS linked transactions [Member]

CMBS linked transactions [Member]

RREF CDO 2006-1 Senior Notes [Member]

RREF CDO 2006-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

Apidos CDO I Senior Notes [Member]

Apidos CDO I Senior Notes [Member]

Apidos CDO III Senior Notes [Member]

Apidos CDO III Senior Notes [Member]

Apidos Cinco CDO Senior Notes [Member]

Apidos Cinco CDO Senior Notes [Member]

Apidos CLO VIII Senior Notes [Member]

Apidos CLO VIII Senior Notes [Member]

CMBS - Term Repurchase Facilities [Member]

CMBS - Term Repurchase Facilities [Member]

CRE - Term Repurchase Facility [Member]

CRE - Term Repurchase Facility [Member]

Whitney CLO I Senior Notes [Member]

Whitney CLO I Senior Notes [Member]

Linked Transactions [Member]

Linked Transactions [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Principal outstanding

'

'

'

'

$95,400,000

$146,400,000

$179,400,000

$227,400,000

$101,800,000

$203,200,000

$146,100,000

$222,000,000

$322,000,000

$322,000,000

$317,600,000

$317,600,000

$52,700,000

$47,500,000

$153,800,000

$59,100,000

'

$174,100,000

Unamortized debt issuance costs

'

'

'

'

268,000

728,000

786,000

1,400,000

0

274,000

205,000

659,000

1,000,000

1,500,000

4,100,000

4,700,000

47,000

23,000

1,300,000

348,000

'

'

Unamortized discount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

10,600,000

11,900,000

'

'

'

'

'

2,500,000

Accrued interest expense

2,708,000

2,918,000

41,000

10,000

'

'

'

'

'

'

'

'

'

'

'

'

25,000

27,000

161,000

79,000

'

'

CMBS Linked repurchase agreement

'

'

63,700,000

20,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repayments of debt

'

'

'

'

'

'

$62,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

$103,700,000

'

RSO_BORROWINGS_Resource_Real_E

RSO BORROWINGS (Resource Real Estate Funding CDO 2007-1) (Details) (USD $)

3 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Jun. 30, 2007

Jun. 30, 2007

31-May-07

Sep. 30, 2013

Dec. 31, 2012

Jun. 30, 2007

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Real Estate Funding 2007-1 CDO Investor LLC [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

Resource Capital Corp [Member]

RCC Real Estate [Member]

RCC Real Estate [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Senior Notes Class A-1 [Member]

Senior Notes Class A-1R [Member]

Senior Notes Class A-1R [Member]

Senior Notes Class A-2 [Member]

Senior Notes Class B [Member]

Senior Notes Class C [Member]

Senior Notes Class D [Member]

Senior Notes Class E [Member]

Senior Notes Class F [Member]

Senior Notes Class G [Member]

Senior Notes Class H [Member]

Senior Notes Class J [Member]

Senior Notes Class K [Member]

Senior Notes Class L [Member]

Senior Notes Class M [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Closing transaction amount

'

'

'

'

'

'

'

'

'

$500,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Face amount of debt issued

'

'

'

'

'

'

'

'

'

265,600,000

180,000,000

50,000,000

'

57,500,000

22,500,000

7,000,000

26,800,000

11,900,000

11,900,000

11,300,000

11,300,000

11,300,000

10,000,000

18,800,000

28,800,000

Percentage of senior notes acquired by the parent

'

'

'

'

100.00%

'

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Payments by parent to acquire notes issued by VIE

'

'

'

'

41,300,000

68,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repayments of debt

'

'

'

'

'

'

'

62,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Description of variable rate basis

'

'

'

'

'

'

'

'

'

'

'one-month LIBOR

'one-month LIBOR

'

'one-month LIBOR

'one-month LIBOR

'

'one-month LIBOR

'

'one-month LIBOR

'one-month LIBOR

'one-month LIBOR

'one-month LIBOR

'one-month LIBOR

'

'

Basis spread on variable rate (in hundredths)

'

'

'

'

'

'

'

'

'

'

0.28%

0.32%

'

0.46%

0.80%

'

0.95%

1.15%

1.30%

1.55%

2.30%

2.95%

3.25%

'

'

Commitment fee percentage on undrawn balance of notes

'

'

'

'

'

'

'

'

'

'

'

0.18%

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate at period end (in hundredths)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6.42%

'

'

'

'

'

'

'

7.50%

8.50%

Weighted average interest rate on all notes issued to outside investors and net of repurchased notes (in hundredths)

'

'

'

'

'

'

'

0.85%

0.81%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repurchase of notes

'

'

0

-4,850,000

'

'

'

'

'

'

'

'

50,000,000

'

'

'

'

'

'

'

'

'

'

'

'

Repurchase of notes, weighted average price to par

'

'

'

'

'

'

'

'

'

'

'

'

90.00%

'

'

'

'

'

'

'

'

'

'

'

'

Gain on the extinguishment of debt

$0

$0

$0

$5,464,000

'

'

'

'

'

'

'

'

$3,600,000

'

'

'

'

'

'

'

'

'

'

'

'

RSO_BORROWINGS_Resource_Real_E1

RSO BORROWINGS (Resource Real Estate Funding CDO 2006-1) (Details) (USD $)

3 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Aug. 31, 2006

Sep. 30, 2013

Dec. 31, 2012

Aug. 31, 2006

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Aug. 31, 2006

31-May-07

Sep. 30, 2013

Dec. 31, 2012

Jun. 30, 2007

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

Resource Real Estate Funding CDO 2006-1 [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RREF CDO 2007-1 Senior Notes [Member]

RCC Real Estate [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Real Estate Funding 2006-1 CDO Investor LLC [Member]

RCC Real Estate [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Senior Notes Class J and K [Member]

Senior Notes Class A-1 [Member]

Senior Notes Class A-1 [Member]

Senior Notes Class A-2 [Member]

Senior Notes Class A-2b [Member]

Senior Notes Class B [Member]

Senior Notes Class C [Member]

Senior Notes Class C [Member]

Senior Notes Class D [Member]

Senior Notes Class E [Member]

Senior Notes Class F [Member]

Senior Notes Class G [Member]

Senior Notes Class H [Member]

Senior Notes Class J [Member]

Senior Notes Class K [Member]

Resource Capital Corp [Member]

Senior Notes Class A-1 [Member]

Senior Notes Class A-2 [Member]

Senior Notes Class B [Member]

Senior Notes Class C [Member]

Senior Notes Class D [Member]

Senior Notes Class E [Member]

Senior Notes Class F [Member]

Senior Notes Class G [Member]

Senior Notes Class H [Member]

Senior Notes Class J [Member]

Senior Notes Class K [Member]

Senior Notes Class A and Class C [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Closing transaction amount

'

'

'

'

'

'

'

$345,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$500,000,000

'

'

'

'

'

'

'

'

'

'

'

'

Face amount of debt issued

'

'

'

'

43,100,000

'

'

308,700,000

129,400,000

'

17,400,000

5,000,000

6,900,000

20,700,000

'

15,500,000

20,700,000

19,800,000

17,300,000

12,900,000

14,700,000

28,400,000

'

'

'

'

265,600,000

180,000,000

57,500,000

22,500,000

7,000,000

26,800,000

11,900,000

11,900,000

11,300,000

11,300,000

11,300,000

10,000,000

'

Percentage of senior notes acquired by the parent

'

'

'

'

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchased equity interests

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

36,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of total preference shares (in hundredths)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repayments of debt

'

'

'

'

'

108,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

62,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Description of variable rate basis

'

'

'

'

'

'

'

'

'one-month LIBOR

'

'one-month LIBOR

'

'one-month LIBOR

'one-month LIBOR

'

'one-month LIBOR

'one-month LIBOR

'one-month LIBOR

'one-month LIBOR

'one-month LIBOR

'

'

'

'

'

'

'

'one-month LIBOR

'one-month LIBOR

'one-month LIBOR

'

'one-month LIBOR

'

'one-month LIBOR

'one-month LIBOR

'one-month LIBOR

'one-month LIBOR

'one-month LIBOR

'

Basis spread on variable rate (in hundredths)

'

'

'

'

'

'

'

'

0.32%

'

0.35%

'

0.40%

0.62%

'

0.80%

1.30%

1.60%

1.90%

3.75%

'

'

'

'

'

'

'

0.28%

0.46%

0.80%

'

0.95%

1.15%

1.30%

1.55%

2.30%

2.95%

3.25%

'

Interest rate at period end (in hundredths)

'

'

'

'

'

'

'

'

'

'

'

5.84%

'

'

'

'

'

'

'

'

6.00%

6.00%

'

'

'

'

'

'

'

'

6.42%

'

'

'

'

'

'

'

'

Weighted average interest rate on all notes issued to outside investors and net of repurchased notes (in hundredths)

'

'

'

'

'

1.86%

1.42%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.85%

0.81%

'

'

'

'

'

'

'

'

'

'

'

'

'

Repurchase of notes

'

'

0

-4,850,000

'

'

'

'

'

4,300,000

'

'

'

'

4,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repurchase of notes, weighted average price to par

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

81.63%

Gain on the extinguishment of debt

$0

$0

$0

$5,464,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$1,500,000

RSO_BORROWINGS_Whitney_CLO_I_D

RSO BORROWINGS (Whitney CLO I) (Details) (Resource Capital Corp [Member], USD $)

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

31-May-13

Oct. 31, 2012

Whitney CLO I Senior Notes [Member]

Whitney CLO I Senior Notes [Member]

Whitney CLO I Senior Notes [Member]

Whitney CLO I Senior Notes [Member]

Whitney CLO I Senior Notes [Member]

Whitney CLO I Senior Notes [Member]

Whitney CLO I Senior Notes [Member]

Whitney CLO I Senior Notes [Member]

Whitney CLO I Senior Notes [Member]

Whitney CLO I Senior Notes [Member]

Whitney CLO I Senior Notes [Member]

Whitney CLO I, Ltd. [Member]

Whitney CLO I, Ltd. [Member]

Whitney CLO I, Ltd. [Member]

Senior Notes Class A-1L [Member]

Senior Notes Class A-1LA [Member]

Senior Notes Class A-1LB [Member]

Senior Notes Class A-2F [Member]

Senior Notes Class A-2L [Member]

Senior Notes Class A-3L [Member]

Senior Notes Class B-2 [Member]

Senior Notes Class B-1LA [Member]

Senior Notes Class B-1LB [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchased equity interests

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$550,000

$20,900,000

Purchased equity interests discount, percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

42.50%

Ownership interests in variable interest entities (in hundredths)

'

'

'

'

'

'

'

'

'

'

'

'

'

68.30%

'

66.60%

Repayments of debt

'

'

103,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Face amount of debt issued

'

'

'

'

$48,800,000

$26,500,000

$36,500,000

$19,800,000

$15,000,000

$25,000,000

'

$23,500,000

$14,400,000

'

'

'

Description of variable rate basis

'

'

'

'

'LIBOR

'LIBOR

'LIBOR

'LIBOR

'LIBOR

'LIBOR

'LIBOR

'

'LIBOR

'

'

'

Basis spread on variable rate (in hundredths)

'

'

'

'

0.32%

0.29%

0.45%

5.19%

0.57%

1.05%

'

2.10%

1.00%

'

'

'

Weighted-average interest rate

1.73%

1.62%

0.00%

1.82%

'

'

'

'

'

'

'

'

'

'

'

'

RSO_BORROWINGS_Apidos_CLO_VIII

RSO BORROWINGS (Apidos CLO VIII) (Details) (Apidos CLO VIII Senior Notes [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012	Oct. 31, 2011	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Oct. 31, 2011
	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	RCC Commercial [Member]
				Senior Notes Class A-1 [Member]	Senior Notes Class A-2 [Member]	Senior Notes Class B-1 [Member]	Senior Notes Class B-2 [Member]	Senior Notes Class C [Member]	Senior Notes Class D [Member]
Debt Instrument [Line Items]	'	'	'	'	'	'	'	'	'	'
Closing transaction amount	'	'	$350,000,000	'	'	'	'	'	'	'
Face amount of debt issued	'	'	317,600,000	231,200,000	35,000,000	17,300,000	6,800,000	14,100,000	13,200,000	'
Discount to investors	'	'	4.40%	'	'	'	'	'	'	'
Purchased equity interests	'	'	'	'	'	'	'	'	'	$15,000,000
Percentage of senior note acquired from VIE (in hundredths)	'	'	'	'	'	'	'	'	'	43.00%
Percentage of senior note acquired by unrelated third party (in hundredths)	'	'	57.00%	'	'	'	'	'	'	'
Description of variable rate basis	'	'	'	'LIBOR	'LIBOR	'LIBOR	'LIBOR	'LIBOR	'LIBOR	'
Basis spread on variable rate (in hundredths)	'	'	'	1.50%	2.00%	2.50%	2.50%	3.10%	4.50%	'
Weighted average interest rate on all notes issued to outside investors and net of repurchased notes (in hundredths)	2.09%	2.16%	'	'	'	'	'	'	'	'

RSO_BORROWINGS_Apidos_Cinco_CD

RSO BORROWINGS (Apidos Cinco CDO) (Details) (Apidos Cinco CDO Senior Notes [Member], USD $)

1 Months Ended

9 Months Ended

31-May-07

Sep. 30, 2013

Dec. 31, 2012

31-May-07

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

31-May-07

RCC Commercial [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Senior Notes Class A-1 [Member]

Senior Notes Class A-2a [Member]

Senior Notes Class A-2b [Member]

Senior Notes Class A-3 [Member]

Senior Notes Class B [Member]

Senior Notes Class C [Member]

Senior Notes Class D [Member]

Apidos Cinco CDO Ltd [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Closing transaction amount

'

'

'

$350,000,000

'

'

'

'

'

'

'

'

Face amount of debt issued

'

'

'

'

37,500,000

200,000,000

22,500,000

19,000,000

18,000,000

14,000,000

11,000,000

322,000,000

Payments by parent to acquire notes issued by VIE

$28,000,000

'

'

'

'

'

'

'

'

'

'

'

Percentage of senior notes acquired by the parent

'

'

'

100.00%

'

'

'

'

'

'

'

'

Description of variable rate basis

'

'

'

'

'LIBOR

'LIBOR

'LIBOR

'LIBOR

'LIBOR

'LIBOR

'LIBOR

'

Basis spread on variable rate

'

'

'

'

0.24%

0.23%

0.32%

0.42%

0.80%

2.25%

4.25%

'

Weighted average interest rate on all notes issued to outside investors and net of repurchased notes (in hundredths)

'

0.77%

0.82%

'

'

'

'

'

'

'

'

'

RSO_BORROWINGS_Apidos_CDO_III_

RSO BORROWINGS (Apidos CDO III) (Details) (Apidos CDO III Senior Notes [Member], USD $)	1 Months Ended				9 Months Ended
	31-May-06	Sep. 30, 2013	Dec. 31, 2012	31-May-06	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
	RCC Commercial [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]
					Senior Notes Class A-1 [Member]	Senior Notes Class A-2 [Member]	Senior Notes Class B [Member]	Senior Notes Class C [Member]	Senior Notes Class D [Member]
Debt Instrument [Line Items]	'	'	'	'	'	'	'	'	'
Closing transaction amount	'	'	'	$285,500,000	'	'	'	'	'
Face amount of debt issued	'	'	'	262,500,000	212,000,000	19,000,000	15,000,000	10,500,000	6,000,000
Payments by parent to acquire notes issued by VIE	23,000,000	'	'	'	'	'	'	'	'
Percentage of senior notes acquired by the parent	100.00%	'	'	'	'	'	'	'	'
Description of variable rate basis	'	'	'	'	'3-month LIBOR	'3-month LIBOR	'3-month LIBOR	'3-month LIBOR	'3-month LIBOR
Basis spread on variable rate	'	'	'	'	0.26%	0.45%	0.75%	1.75%	4.25%
Weighted average interest rate on all notes issued to outside investors and net of repurchased notes (in hundredths)	'	0.86%	0.80%	'	'	'	'	'	'
Repayments of debt	'	'	'	'	$116,400,000	'	'	'	'

RSO_BORROWINGS_Apidos_CDO_I_De

RSO BORROWINGS (Apidos CDO I) (Details) (USD $)

3 Months Ended

9 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Dec. 31, 2012

Aug. 31, 2005

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Aug. 31, 2005

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Apidos CDO I Senior Notes [Member]

Apidos CDO I Senior Notes [Member]

Apidos CDO I Senior Notes [Member]

Apidos CDO I Senior Notes [Member]

Apidos CDO I Senior Notes [Member]

Apidos CDO I Senior Notes [Member]

Apidos CDO I Senior Notes [Member]

Apidos CDO I Senior Notes [Member]

Apidos CDO I Senior Notes [Member]

Apidos CDO I Senior Notes [Member]

Apidos CDO I Senior Notes [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

RCC Commercial [Member]

Senior Notes Class A-1 [Member]

Senior Notes Class A-2 [Member]

Senior Notes Class B [Member]

Senior Notes Class B [Member]

Senior Notes Class B [Member]

Senior Notes Class C [Member]

Senior Notes Class D [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Closing transaction amount

'

'

'

'

'

'

$350,000,000

'

'

'

'

'

'

'

'

Payments by parent to acquire notes issued by VIE

'

'

'

'

'

'

'

'

'

'

'

'

'

'

28,500,000

Percentage of senior notes acquired by the parent

'

'

'

'

'

'

100.00%

'

'

'

'

'

'

'

'

Face amount of debt issued

'

'

'

'

'

'

321,500,000

259,500,000

15,000,000

20,500,000

20,500,000

'

13,000,000

8,000,000

'

Description of variable rate basis

'

'

'

'

'

'

'

'3-month LIBOR

'3-month LIBOR

'

'3-month LIBOR

'

'3-month LIBOR

'

'

Basis spread on variable rate (in hundredths)

'

'

'

'

'

'

'

0.26%

0.42%

'

0.75%

'

1.85%

'

'

Interest rate at period end (in hundredths)

'

'

'

'

'

'

'

'

'

'

'

'

'

9.25%

'

Weighted average interest rate on all notes issued to outside investors and net of repurchased notes (in hundredths)

'

'

'

'

1.52%

1.07%

'

'

'

'

'

'

'

'

'

Repayments of debt

'

'

'

'

'

'

'

217,700,000

'

'

'

'

'

'

'

Repurchase of notes

'

'

0

-4,850,000

'

'

'

'

'

0

0

2,000,000

'

'

'

Repurchase of notes, weighted average price to par

'

'

'

'

'

'

'

'

'

0.00%

0.00%

85.11%

'

'

'

Gain on the extinguishment of debt

$0

$0

$0

$5,464,000

'

'

'

'

'

$0

$0

$298,000

'

'

'

RSO_BORROWINGS_Unsecured_Junio

RSO BORROWINGS (Unsecured Junior Subordinated Debentures) (Details) (USD $)

Jan. 31, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

31-May-06

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2006

Sep. 30, 2013

Sep. 30, 2013

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Unsecured Junior Subordinated Debentures [Member]

Interest in RCT II [Member]

Interest in RCT II [Member]

Interest in RCT I [Member]

Interest in RCT I [Member]

RCT I entity [Member]

RCT I entity [Member]

RCT I entity [Member]

RCT II entity [Member]

RCT II entity [Member]

RCT II entity [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Unsecured Junior Subordinated Debentures [Member]

Unsecured Junior Subordinated Debentures [Member]

Unsecured Junior Subordinated Debentures [Member]

Unsecured Junior Subordinated Debentures [Member]

Unsecured Junior Subordinated Debentures [Member]

Unsecured Junior Subordinated Debentures [Member]

Unsecured Junior Subordinated Debentures [Member]

Unsecured Junior Subordinated Debentures [Member]

Interest in RCT II [Member]

Interest in RCT I [Member]

Unsecured Junior Subordinated Debentures [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Ownership percentage (in hundredths)

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

100.00%

100.00%

Face amount of debt issued

'

'

'

'

'

'

'

'

'

'

$25,800,000

'

'

$25,800,000

'

'

Debt issuance costs, amortization period

'

'

'

'10 years

'

'

'

'

'

'

'

'

'

'

'

'

Unamortized debt issuance costs

'

'

'

'

'

'

'

'

285,000

358,000

'

306,000

377,000

'

'

'

Interest rate at period end (in hundredths)

'

'

'

'

'

'

'

'

4.22%

4.26%

'

4.22%

4.26%

'

'

'

Investments in unconsolidated entities

'

$72,955,000

$45,413,000

'

$774,000

$774,000

$774,000

$774,000

'

'

'

'

'

'

'

'

RSO_BORROWINGS_CMBS_Term_Repur

RSO BORROWINGS (CMBS b Term Repurchase Facility) (Details) (CMBS - Term Repurchase Facilities [Member], Wells Fargo Bank, National Association [Member], USD $)	0 Months Ended	9 Months Ended	12 Months Ended
	Feb. 01, 2013	Sep. 30, 2013	Dec. 31, 2012
RCC Real Estate And RCC Commercial [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Face amount of debt issued	'	$51,000,000	'
Debt instrument term	'	'2 years	'
Debt instrument term, option to extend	'1 year	'1 year	'
Description of variable rate basis	'	'one-month LIBOR	'
Basis spread on variable rate (in hundredths)	'	1.00%	'
Line of credit facility, extension fee percentage (in hundredths)	'	0.25%	'
Derivative, required securities average life (exceeds)	'	'2 years	'
Weighted average basis spread on variable rate	'	1.22%	'
Unamortized debt issuance costs	'	47,000	'
Debt instrument, fair value	'	60,100,000	'
Weighted-average interest rate	'	1.30%	1.53%
Amount at Risk Under Facility [Abstract]	'	'	'
Amount at Risk	'	11,195,000	10,722,000
Weighted Average Maturity in Days	'	'18 days	'18 days
Weighted Average Interest Rate	'	1.30%	1.53%
RCC Real Estate [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Face amount of debt issued	'	'	42,500,000
Basis spread on variable rate (in hundredths)	'	'	1.30%
Unamortized debt issuance costs	'	'	23,000
Debt instrument, fair value	'	'	51,400,000
Weighted-average interest rate	'	'	1.53%
Amount at Risk Under Facility [Abstract]	'	'	'
Weighted Average Interest Rate	'	'	1.53%
Maximum [Member] | RCC Real Estate And RCC Commercial [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Face amount of debt issued	'	100,000,000	'
Linked Transactions [Member] | RCC Real Estate [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Description of variable rate basis	'	'	'one-month LIBOR
Basis spread on variable rate (in hundredths)	'	1.42%	1.42%
Weighted-average interest rate	'	1.60%	1.60%
CMBS Linked repurchase agreement	'	9,300,000	12,200,000
Repurchase agreement, fair value of collateral securities	'	$11,300,000	$14,600,000
Amount at Risk Under Facility [Abstract]	'	'	'
Weighted Average Interest Rate	'	1.60%	1.60%

RSO_BORROWINGS_CRE_Term_Repurc

RSO BORROWINGS (CRE - Term Repurchase Facility) (Details) (USD $)

9 Months Ended

12 Months Ended

0 Months Ended

9 Months Ended

12 Months Ended

0 Months Ended

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Apr. 02, 2013

Sep. 30, 2013

Dec. 31, 2012

Feb. 27, 2012

Feb. 27, 2012

Jul. 19, 2013

Jul. 19, 2013

Sep. 30, 2013

Resource Capital Corp [Member]

Resource Capital Corp [Member]

CRE - Term Repurchase Facility [Member]

CRE - Term Repurchase Facility [Member]

CRE - Term Repurchase Facility [Member]

CRE - Term Repurchase Facility [Member]

CRE - Term Repurchase Facility [Member]

CRE - Term Repurchase Facility [Member]

CRE - Term Repurchase Facility [Member]

CRE - Term Repurchase Facility [Member]

CRE - Term Repurchase Facility [Member]

CRE - Term Repurchase Facility [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Wells Fargo Bank, National Association [Member]

Wells Fargo Bank, National Association [Member]

Wells Fargo Bank, National Association [Member]

Wells Fargo Bank, National Association [Member]

Wells Fargo Bank, National Association [Member]

Deutsche Bank AG [Member]

Deutsche Bank AG [Member]

Deutsche Bank AG [Member]

RCC Real Estate [Member]

RCC Real Estate [Member]

RCC Real Estate [Member]

RCC Real Estate [Member]

RCC Real Estate [Member]

RCC Real Estate [Member]

RCC Real Estate [Member]

Resource Capital Corp [Member]

extension

option

Security

Maximum [Member]

option

Maximum [Member]

Security

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Revolving credit facility, maximum borrowing capacity

'

'

'

'

$250,000,000

'

'

'

$150,000,000

'

$200,000,000

'

Debt instrument term

'

'

'

'

'

'18 months

'

'

'

'12 months

'

'

Debt instrument term, number of options to extend

'

'

'

'

2

2

'

'

'

2

'

'

Debt instrument term, option to extend

'

'

'

'

'1 year

'1 year

'

'

'

'1 year

'

'

Amount of structuring fee

'

'

'

'

101,000

'

'

'

'

'

'

'

Structuring fee

'

'

'

'

'

'

'

'

'

0.25%

'

'

Loan origination fee

'

'

'

'

'

'

'

-0.38%

'

'

'

'

Extension fee

'

'

'

'

938,000

'

'

'

'

'

'

'

Face amount of debt issued

'

'

'

'

'

152,500,000

58,800,000

'

'

'

'

'

Unamortized debt issuance costs

'

'

1,300,000

348,000

'

1,300,000

348,000

'

'

'

'

'

Collateral, number of securities

'

'

'

'

'

20

8

'

'

'

'

'

Debt instrument, fair value

'

'

'

'

'

220,200,000

85,400,000

'

'

'

'

'

Description of variable rate basis

'

'

'

'

'

'one-month LIBOR

'one-month LIBOR

'

'

'

'

'

Basis spread on variable rate (in hundredths)

'

'

'

'

'

2.43%

2.67%

'

'

'

'

'

Weighted-average interest rate

1.73%

1.62%

'

'

'

2.61%

2.88%

'

'

'

'

'

Covenant requirement, maximum judgment allowed against subsidiary

'

'

'

'

'

'

'

'

'

'

'

100,000

Covenant requirement, maximum judgment allowed against company

'

'

'

'

'

'

'

'

'

'

'

5,000,000

Covenant requirement, maximum amount of failure to pay or acceleration of a monetary obligation for subsidiary

'

'

'

'

'

'

'

'

'

'

'

100,000

Covenant requirement, maximum amount of failure to pay or acceleration of a monetary obligation for company

'

'

'

'

'

'

'

'

'

'

'

5,000,000

Amount at Risk Under Facility [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

Amount at Risk

'

'

'

'

'

$66,619,000

$26,332,000

'

'

'

'

'

Weighted Average Maturity in Days

'9 years 7 months

'12 years 6 months

'

'

'

'18 days

'18 days

'

'

'

'

'

Weighted Average Interest Rate

1.73%

1.62%

'

'

'

2.61%

2.88%

'

'

'

'

'

RSO_BORROWINGS_ShortTerm_Repur

RSO BORROWINGS (Short-Term Repurchase Agreements) (Details) (Short-Term Repurchase Agreements [Member], RCC Real Estate [Member], USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Deutsche Bank Securities, Inc [Member]	'	'
Debt Instrument [Line Items]	'	'
Weighted-average interest rate	1.45%	1.46%
Debt instrument term	'12 months	'
Amount at Risk Under Facility [Abstract]	'	'
Amount at Risk	$9,276,000	$2,069,000
Weighted Average Maturity in Days	'19 days	'7 days
Weighted Average Borrowing Rate	1.45%	1.46%
Wells Fargo Securities, LLC [Member]	'	'
Debt Instrument [Line Items]	'	'
Principal outstanding	1,700,000	1,900,000
Collateral, number of securities	1	1
Repurchase agreement, fair value of collateral securities	2,800,000	3,100,000
Description of variable rate basis	'one-month LIBOR	'one-month LIBOR
Basis spread on variable rate (in hundredths)	1.01%	1.25%
Weighted-average interest rate	1.19%	1.46%
Amount at Risk Under Facility [Abstract]	'	'
Amount at Risk	10,854,000	1,956,000
Weighted Average Maturity in Days	'30 days	'28 days
Weighted Average Borrowing Rate	1.19%	1.46%
Linked repurchase agreement borrowings included as derivative instruments	21,500,000	3,500,000
JP Morgan Securities, LLC [Member]	'	'
Debt Instrument [Line Items]	'	'
Weighted-average interest rate	0.98%	1.01%
Amount at Risk Under Facility [Abstract]	'	'
Amount at Risk	9,696,000	2,544,000
Weighted Average Maturity in Days	'30 days	'11 days
Weighted Average Borrowing Rate	0.98%	1.01%
Linked repurchase agreement borrowings included as derivative instruments	17,800,000	4,700,000
Linked Transactions [Member]	'	'
Debt Instrument [Line Items]	'	'
Description of variable rate basis	'one-month LIBOR	'
Linked Transactions [Member] | Deutsche Bank Securities, Inc [Member]	'	'
Debt Instrument [Line Items]	'	'
Principal outstanding	15,100,000	3,100,000
Collateral, number of securities	5	'
Repurchase agreement, fair value of collateral securities	24,300,000	5,100,000
Description of variable rate basis	'one-month LIBOR	'one-month LIBOR
Basis spread on variable rate (in hundredths)	1.27%	1.25%
Weighted-average interest rate	1.45%	1.46%
Amount at Risk Under Facility [Abstract]	'	'
Weighted Average Borrowing Rate	1.45%	1.46%
Linked Transactions [Member] | Wells Fargo Securities, LLC [Member]	'	'
Debt Instrument [Line Items]	'	'
Collateral, number of securities	7	'
Repurchase agreement, fair value of collateral securities	31,100,000	5,700,000
Basis spread on variable rate (in hundredths)	1.02%	1.25%
Weighted-average interest rate	1.20%	1.46%
CMBS Linked repurchase agreement	21,500,000	3,500,000
Amount at Risk Under Facility [Abstract]	'	'
Weighted Average Borrowing Rate	1.20%	1.46%
Linked Transactions [Member] | JP Morgan Securities, LLC [Member]	'	'
Debt Instrument [Line Items]	'	'
Principal outstanding	17,800,000	4,700,000
Collateral, number of securities	4	'
Repurchase agreement, fair value of collateral securities	$26,800,000	$7,200,000
Description of variable rate basis	'one-month LIBOR	'one-month LIBOR
Basis spread on variable rate (in hundredths)	0.79%	0.80%
Weighted-average interest rate	0.98%	1.01%
Amount at Risk Under Facility [Abstract]	'	'
Weighted Average Borrowing Rate	0.98%	1.01%

RSO_BORROWINGS_Mortgage_Payabl

RSO BORROWINGS (Mortgage Payable) (Details) (USD $)	0 Months Ended	9 Months Ended
	Aug. 01, 2011	Sep. 30, 2013	Dec. 31, 2012
RCC Real Estate [Member] | Mortgages [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Number of multi family units	504	'	'
Payment to acquire rental property	$18,100,000	'	'
Percentage of units occupied at acquisition	95.00%	'	'
Resource Capital Corp [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Weighted-average interest rate	'	1.73%	1.62%
Resource Capital Corp [Member] | Mortgages [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Debt instrument term	'7 years	'	'
Principal outstanding	$13,600,000	$0	$13,600,000
Description of variable rate basis	'	'one-month LIBOR	'
Basis spread on variable rate (in hundredths)	'	3.95%	'
Weighted-average interest rate	'	'	4.17%

RSO_RELATED_PARTY_TRANSACTIONS

RSO RELATED PARTY TRANSACTIONS (Relationship with LEAF Financial) (Details) (Lease Equity Appreciation Fund II [Member], Resource Capital Corp [Member], USD $)	0 Months Ended				4 Months Ended	12 Months Ended
	Feb. 15, 2013	Jan. 11, 2013	Sep. 03, 2011	Mar. 05, 2010	Sep. 30, 2013	Mar. 05, 2011	Dec. 31, 2012
Lease Equity Appreciation Fund II [Member] | Resource Capital Corp [Member]	'	'	'	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'	'	'	'
Revolving credit facility, maximum borrowing capacity	'	'	'	$8,000,000	'	'	'
Line of credit facility, term (in years)	'	'	'	'	'	'1 year	'
Origination fee with establishment of line of credit facility (in hundredths)	'	'	'	1.00%	'	'	'
Line of credit facility, extension fee percentage (in hundredths)	1.00%	1.00%	1.00%	'	'	'	'
Line of credit facility, interest rate during period (in hundredths)	'	'	'	'	10.00%	12.00%	'
Line of credit facility, amount outstanding	'	'	'	'	$5,900,000	'	$6,800,000

RSO_RELATED_PARTY_TRANSACTIONS1

RSO RELATED PARTY TRANSACTIONS (Relationship with CVC Credit Partners, LLC) (Details) (USD $)

Jan. 31, 2013

Oct. 31, 2012

Sep. 30, 2013

Feb. 24, 2011

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Oct. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

31-May-13

Jun. 21, 2011

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Apidos Capital Management LLC [Member]

Apidos Capital Management LLC [Member]

Apidos Capital Management LLC [Member]

Apidos Capital Management LLC [Member]

Whitney CLO I, Ltd. [Member]

Whitney CLO I, Ltd. [Member]

Whitney CLO I, Ltd. [Member]

Whitney CLO I, Ltd. [Member]

SLH Partners [Member]

Entity

Churchill Pacific Asset Management LLC [Member]

Churchill Pacific Asset Management LLC [Member]

CVC Capital Partners [Member]

CVC Capital Partners [Member]

CVC Capital Partners [Member]

CVC Capital Partners [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

VIE, Primary Beneficiary [Member]

VIE, Primary Beneficiary [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Related Party Transaction [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Ownership percentage (in hundredths)

10.00%

'

'

100.00%

'

'

'

'

'

'

'

'

'

10.00%

Purchase of ownership interest

'

'

'

$22,500,000

'

'

'

'

'

'

'

'

'

'

Assets under management, carrying amount

'

'

'

'

1,900,000,000

'

'

'

'

'

'

'

'

'

Number of CLO issuers

'

'

5

'

'

'

'

'

'

'

'

'

'

'

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

'

'

'

'

'

$160,000

$197,000

$515,000

$604,000

'

'

'

'

'

Preferred equity acquired

'

66.60%

'

'

'

'

'

'

'

66.60%

'

'

'

'

Ownership interests in variable interest entities (in hundredths)

'

'

'

'

'

'

'

'

'

66.60%

68.30%

68.30%

68.30%

'

RSO_RELATED_PARTY_TRANSACTIONS2

RSO RELATED PARTY TRANSACTIONS (Relationship with Resource Real Estate) (Details) (USD $)	Jan. 31, 2013	Sep. 30, 2013	Dec. 31, 2012	23-May-12	Jun. 21, 2011	23-May-12	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013
		Resource Capital Corp [Member]	Resource Capital Corp [Member]	SLH Partners [Member]	SLH Partners [Member]	SLH Partners [Member]	SLH Partners [Member]	SLH Partners [Member]	Resource Real Estate Management, LLC [Member]
				Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	Resource Capital Corp [Member]	SLH Partners [Member]
									Resource Capital Corp [Member]
Related Party Transaction [Line Items]	'	'	'	'	'	'	'	'	'
Ownership percentage (in hundredths)	10.00%	'	'	'	10.00%	'	'	'	'
Amount of loan to related party	'	'	'	'	$7,000,000	'	'	'	'
Loans receivable - related party, principal payments	'	'	'	7,000,000	'	'	'	'	'
Line of credit facility, interest rate during period (in hundredths)	'	'	'	'	'	10.00%	'	'	'
Origination fee with establishment of line of credit facility (in hundredths)	'	'	'	'	1.00%	'	'	'	'
Exit fee	'	'	'	70,000	'	'	'	'	'
Asset management fees percentage (in hundredths)	'	'	'	'	'	'	'	'	2.00%
Investments in unconsolidated entities	'	$72,955,000	$45,413,000	'	'	'	$1,100,000	$1,200,000	'

RSO_RELATED_PARTY_TRANSACTIONS3

RSO RELATED PARTY TRANSACTIONS (Relationship with The Bancorp) (Details) (Resource Capital Corp [Member], Bancorp [Member], USD $)	Jul. 07, 2011
Resource Capital Corp [Member] | Bancorp [Member]	'
Related Party Transaction [Line Items]	'
Revolving credit facility, maximum borrowing capacity	$10,000,000

RSO_RELATED_PARTY_TRANSACTIONS4

RSO RELATED PARTY TRANSACTIONS (Relationship with Law Firm) (Details) (Resource Capital Corp [Member], Ledgewood [Member], USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Resource Capital Corp [Member] | Ledgewood [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Legal fees	$70	$160	$155	$277

RSO_FAIR_VALUE_OF_FINANCIAL_IN

RSO FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (Resource Capital Corp [Member], USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
	Security	Security	Security	Security
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'
Impairment loss included in earnings	$255	$9	$811	$180
Number of impaired assets	1	2	4	4
Provision for loan losses	741	1,370	541	7,801
Non-recurring Basis [Member] | Level 3 [Member]	'	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'
Provision for loan losses	$69	$3,400	$3,100	$5,600

RSO_FAIR_VALUE_OF_FINANCIAL_IN1

RSO FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities Measured at Fair Value) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012
In Thousands, unless otherwise specified
Assets:	'	'	'
Investment securities, trading	$3,672	$5,365	'
Investment securities available-for-sale	6,086	5,211	'
Resource Capital Corp [Member]	'	'	'
Assets:	'	'	'
Investment securities, trading	12,099	24,843	24,843
Investment securities available-for-sale	220,684	231,590	'
CMBS - linked transactions	29,978	6,835	'
Resource Capital Corp [Member] | Recurring Basis [Member]	'	'	'
Assets:	'	'	'
Investment securities, trading	12,099	24,843	'
Investment securities available-for-sale	220,684	231,590	'
CMBS - linked transactions	29,978	6,835	'
Total assets at fair value	262,761	263,268	'
Liabilities:	'	'	'
Derivatives (net)	12,208	14,687	'
Total	12,208	14,687	'
Resource Capital Corp [Member] | Recurring Basis [Member] | Level 1 [Member]	'	'	'
Assets:	'	'	'
Investment securities, trading	0	0	'
Investment securities available-for-sale	4,972	9,757	'
CMBS - linked transactions	0	0	'
Total assets at fair value	4,972	9,757	'
Liabilities:	'	'	'
Derivatives (net)	0	0	'
Total	0	0	'
Resource Capital Corp [Member] | Recurring Basis [Member] | Level 2 [Member]	'	'	'
Assets:	'	'	'
Investment securities, trading	0	0	'
Investment securities available-for-sale	85,826	132,561	'
CMBS - linked transactions	9,410	4,802	'
Total assets at fair value	95,236	137,363	'
Liabilities:	'	'	'
Derivatives (net)	442	610	'
Total	442	610	'
Resource Capital Corp [Member] | Recurring Basis [Member] | Level 3 [Member]	'	'	'
Assets:	'	'	'
Investment securities, trading	12,099	24,843	'
Investment securities available-for-sale	129,886	89,272	'
CMBS - linked transactions	20,568	2,033	'
Total assets at fair value	162,553	116,148	'
Liabilities:	'	'	'
Derivatives (net)	11,766	14,077	'
Total	$11,766	$14,077	'

RSO_FAIR_VALUE_OF_FINANCIAL_IN2

RSO FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets Measured on Recurring Basis) (Details) (Resource Capital Corp [Member], Level 3 [Member], Investments [Member], USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Resource Capital Corp [Member] | Level 3 [Member] | Investments [Member]	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'
Balance, beginning of year	$116,148
Total gains or losses (realized/unrealized):	'
Included in earnings	8,530
Purchases	89,514
Sales	-30,196
Paydowns	-20,186
Unrealized gains (losses) b included in accumulated other comprehensive income	-1,257
Transfers from level 2	0
Balance, end of period	$162,553

RSO_FAIR_VALUE_OF_FINANCIAL_IN3

RSO FAIR VALUE OF FINANCIAL INSTRUMENTS (Liabilities Measured on Recurring Basis) (Details) (Resource Capital Corp [Member], Level 3 [Member], Derivative Financial Instruments, Liabilities [Member], USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Resource Capital Corp [Member] | Level 3 [Member] | Derivative Financial Instruments, Liabilities [Member]	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'
Beginning balance	$14,077
Unrealized losses b included in accumulated other comprehensive income	-2,311
Ending balance	$11,766

RSO_FAIR_VALUE_OF_FINANCIAL_IN4

RSO FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities, Quantitative Information) (Details) (USD $)

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

In Thousands, unless otherwise specified

Nonrecurring

Nonrecurring

Nonrecurring

Nonrecurring

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Resource Capital Corp [Member]

Level 1 [Member]

Level 2 [Member]

Level 3 [Member]

Level 3 [Member]

Nonrecurring

Nonrecurring

Nonrecurring

Nonrecurring

Nonrecurring

Nonrecurring

Nonrecurring

Nonrecurring

Interest Rate Swap Agreements [Member]

Level 1 [Member]

Level 1 [Member]

Level 2 [Member]

Level 2 [Member]

Level 3 [Member]

Level 3 [Member]

Discounted Cash Flow [Member]

Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Loans held for sale, fair value

'

'

'

'

'

$332,351

$48,894

$0

$0

$332,351

$14,894

$0

$34,000

Impaired loans, fair value

'

'

'

'

'

1,046

25,366

0

0

1,046

4,366

0

21,000

Total assets at fair value

$51,531

$0

$727

$50,804

$12,208

$333,397

$74,260

$0

$0

$333,397

$19,260

$0

$55,000

Weighted average credit spreads (in hundredths)

'

'

'

'

5.00%

'

'

'

'

'

'

'

'

RSO_FAIR_VALUE_OF_FINANCIAL_IN5

RSO FAIR VALUE OF FINANCIAL INSTRUMENTS (Fair Value, by Balance Sheet Grouping) (Details) (Resource Capital Corp [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Carrying Amount [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Loans held-for-investment	$1,305,739	$1,793,780
Loans receivable-related party	8,067	8,324
CDO notes	1,166,209	1,614,883
Junior subordinated notes	50,956	50,814
Repurchase agreement	205,265	106,303
Fair Value [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Loans held-for-investment	1,299,103	1,848,617
Loans receivable-related party	8,067	8,324
CDO notes	1,020,919	1,405,124
Junior subordinated notes	17,450	17,308
Repurchase agreement	205,265	106,303
Level 1 [Member] | Fair Value [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Loans held-for-investment	0	0
Loans receivable-related party	0	0
CDO notes	0	0
Junior subordinated notes	0	0
Repurchase agreement	0	0
Level 2 [Member] | Fair Value [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Loans held-for-investment	568,545	1,186,642
Loans receivable-related party	0	0
CDO notes	1,020,919	1,405,124
Junior subordinated notes	0	0
Repurchase agreement	0	0
Level 3 [Member] | Fair Value [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Loans held-for-investment	730,558	661,975
Loans receivable-related party	8,067	8,324
CDO notes	0	0
Junior subordinated notes	17,450	17,308
Repurchase agreement	$205,265	$106,303

SUBSEQUENT_EVENTS_Narratives_D

SUBSEQUENT EVENTS (Narratives) (Details) (VIE - RSO [Member], Subsequent Event [Member], USD $)	1 Months Ended
	Oct. 31, 2013
Convertible Senior Notes Due 2018 [Member] | Convertible Senior Notes [Member]	'
Subsequent Event [Line Items]	'
Debt instrument amount, portion for underwriting agreement	$115,000,000
Interest rate (in hundredths)	6.00%
Debt amount, portion for over-allotments	15,000,000
Proceeds from issuance of long-term debt	111,100,000
Primary Capital Advisors LC [Member]	'
Subsequent Event [Line Items]	'
Total consideration for business acquisition	8,400,000
Payment in cash for business acquisition	7,600,000
Business acquisition consideration, stock	800,000
Escrow deposit	$1,800,000