Resource America (REXI) 10-Q 10 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 03, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	RESOURCE AMERICA, INC.
Entity Central Index Key	83,402
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		22,523,749

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets:
Cash	$ 23,760	$ 27,542
Loans and receivables from managed entities and related parties, net	26,520	30,303
Investments in real estate, net	17,040	17,097
Investment securities, at fair value	10,870	9,540
Investments in unconsolidated entities (see Note 8)	16,884	13,089
Assets of consolidated variable interest entity (VIE)-RSO (see Note 19):
Investment securities, at fair value	10,870	9,540
Total assets	2,942,705	2,900,382
Liabilities:
Payables to managed entities and related parties	4,748	3,015
Borrowings	21,029	20,412
Liabilities of consolidated VIE-RSO (see Note 19):
Borrowings	21,029	20,412
Total liabilities	1,926,451	1,819,939
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; 34,958,477 and 34,489,568 shares issued (including nonvested restricted stock of 1,143,547 and 833,082), respectively	338	335
Additional paid-in capital	309,736	308,134
Accumulated deficit	(27,643)	(23,663)
Treasury stock, at cost; 12,293,346 and 11,764,417 shares, respectively	(124,736)	(120,182)
Accumulated other comprehensive loss	(915)	(1,030)
Total stockholders’ equity	156,780	163,594
Total equity	1,016,254	1,080,443
Total liabilities and equity	2,942,705	2,900,382
RAI [Member]
Assets:
Cash	23,760	27,542
Restricted cash	886	725
Receivables	1,061	636
Loans and receivables from managed entities and related parties, net	26,520	30,303
Investments in real estate, net	17,040	17,097
Investment securities, at fair value	10,870	9,540
Investments in unconsolidated loan manager (see Note 8)	36,526	39,655
Investments in unconsolidated entities (see Note 8)	16,884	13,089
Assets of consolidated variable interest entity (VIE)-RSO (see Note 19):
Investment securities, at fair value	10,870	9,540
Property and equipment, net	5,622	5,063
Deferred tax assets, net	20,920	23,304
Other assets	8,392	5,416
Liabilities:
Accrued expenses and other liabilities	21,241	22,279
Payables to managed entities and related parties	4,748	3,015
Borrowings	21,029	20,412
Liabilities of consolidated VIE-RSO (see Note 19):
Borrowings	$ 21,029	$ 20,412
Commitments and contingencies
Equity:
Preferred stock, $1.00 par value, 1,000,000 shares authorized; none outstanding	$ 0
Common stock, $.01 par value, 49,000,000 shares authorized; 34,958,477 and 34,489,568 shares issued (including nonvested restricted stock of 1,143,547 and 833,082), respectively	338
Additional paid-in capital	309,736
Accumulated deficit	(27,643)
Treasury stock, at cost; 12,293,346 and 11,764,417 shares, respectively	(124,736)
Accumulated other comprehensive loss	(915)
Total stockholders’ equity	156,780
Noncontrolling interests	376	$ 306
RSO [Member]
Assets:
Investment securities, at fair value	286,108	296,506
Assets of consolidated variable interest entity (VIE)-RSO (see Note 19):
Cash and cash equivalents (including restricted cash)	190,765	202,043
Investment securities, at fair value	286,108	296,506
Loans	2,154,007	2,039,655
Investments in real estate and unconsolidated entities	56,330	60,007
Other assets	87,014	129,801
Total assets of consolidated VIE-RSO	2,774,224	2,728,012
Total assets	2,774,224
Liabilities:
Borrowings	1,827,793	1,717,132
Liabilities of consolidated VIE-RSO (see Note 19):
Borrowings	1,827,793	1,717,132
Other liabilities	51,640	57,101
Total liabilities of consolidated VIE-RSO	1,879,433	1,774,233
Total liabilities	1,879,433
Equity:
Noncontrolling interests	$ 859,098	$ 916,543

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - RAI [Member] - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Equity:
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)	34,958,477	34,489,568
Common stock restricted shares (in shares)	1,143,547	883,082
Treasury stock shares (in shares)	12,293,346	11,764,417

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
REVENUES:
Total revenues	$ 45,996	$ 42,335	$ 88,185	$ 84,951
COSTS AND EXPENSES:
General and administrative	4,181	2,729	7,478	5,883
Provision for credit losses	276	1,575	678	2,783
Depreciation and amortization	515	465	972	916
Costs and expenses	71,833	30,576	108,749	57,222
OPERATING INCOME (LOSS)	(25,837)	11,759	(20,564)	27,729
OTHER INCOME (EXPENSE):
Interest expense	(455)	(497)	(876)	(980)
Other (expense) income	4	11	15	29
Other income (expense), net	5,971	10,183	21,913	13,399
Income (loss) from continuing operations before taxes	(19,866)	21,942	1,349	41,128
Income tax provision (benefit)	3,775	1,735	6,866	2,820
Net income (loss)	(23,641)	20,207	(5,517)	38,308
Net income (loss) attributable to common shareholders	$ (1,652)	$ 2,718	$ (1,315)	$ 3,708
Basic earnings (loss) per share:
Net income (in dollars per share)	$ (0.07)	$ 0.13	$ (0.06)	$ 0.18
Weighted average shares outstanding (in shares)	22,867	20,386	22,915	20,320
Diluted earnings (loss) per share:
Net income (in dollars per share)	$ (0.07)	$ 0.12	$ (0.06)	$ 0.17
Weighted average shares outstanding (in shares)	22,867	22,032	22,915	22,031
Other-than-temporary impairment losses recognized in earnings	$ (4,346)		$ (4,346)
RAI [Member]
REVENUES:
Real estate (includes revenues of $2,751, $2,302, $5,503 and $4,985 related to RSO)	21,116	$ 13,448	38,082	$ 26,723
Financial fund management (includes revenues of $617, $753, $1,233 and $960 related to RSO)	4,781	8,141	9,918	15,216
Commercial finance (includes no revenues related to RSO)	2	(42)	0	(141)
Total revenues	25,899	21,547	48,000	41,798
COSTS AND EXPENSES:
Real estate	12,082	9,105	23,581	17,980
Financial fund management	3,154	2,779	6,144	7,168
Commercial finance	458	123	1,037	226
General and administrative	4,181	2,729	7,478	5,883
Provision for credit losses	276	1,575	678	2,783
Depreciation and amortization	515	465	972	916
Costs and expenses	20,666	16,776	39,890	34,956
OTHER INCOME (EXPENSE):
Interest expense	(455)	(497)	(876)	(980)
Other (expense) income	231	18	67	183
Income tax provision (benefit)	857	2,181	2,101	3,250
Net (income) loss attributable to noncontrolling interests	(63)	(84)	(55)	(44)
Diluted earnings (loss) per share:
Gain (Loss) on Investments	0	370	0	370
Other-than-temporary impairment losses recognized in earnings	(4,346)	0	(4,346)	0
RSO [Member]
REVENUES:
Real estate (includes revenues of $2,751, $2,302, $5,503 and $4,985 related to RSO)	2,751	2,302	5,503	4,985
Financial fund management (includes revenues of $617, $753, $1,233 and $960 related to RSO)	617	753	1,233	960
Total revenues	24,201	23,828	48,562	49,073
COSTS AND EXPENSES:
Costs and expenses		16,853	75,595	28,138
OTHER INCOME (EXPENSE):
Other (expense) income	10,537	10,281	27,053	13,797
Income tax provision (benefit)	2,918	(446)	4,765	(430)
Net (income) loss attributable to noncontrolling interests	22,052	(17,405)	4,257	(34,556)
Reportable Legal Entities [Member]
REVENUES:
Total revenues	(4,104)
COSTS AND EXPENSES:
Costs and expenses	(3,368)
OTHER INCOME (EXPENSE):
Other income (expense), net	(4,570)	(109)	(5,155)	(427)
Reportable Legal Entities [Member] | RAI [Member]
REVENUES:
Real estate (includes revenues of $2,751, $2,302, $5,503 and $4,985 related to RSO)	21,116	13,448	38,082	26,723
Financial fund management (includes revenues of $617, $753, $1,233 and $960 related to RSO)	4,781	8,141	9,918	15,216
Commercial finance (includes no revenues related to RSO)	2	(42)	0	(141)
Total revenues	25,899	21,547	48,000	41,798
COSTS AND EXPENSES:
Real estate	12,082	9,105	23,581	17,980
Financial fund management	3,154	2,779	6,144	7,168
Commercial finance	458	123	1,037	226
General and administrative	4,181	2,729	7,478	5,883
Provision for credit losses	276	1,575	678	2,783
Depreciation and amortization	515	465	972	916
Costs and expenses	20,666	16,776	39,890	34,956
OPERATING INCOME (LOSS)	5,233	4,771	8,110	6,842
OTHER INCOME (EXPENSE):
Interest expense	(455)	(497)	(876)	(980)
Income (loss) from continuing operations before taxes	1,121	5,234	3,891	7,559
Income tax provision (benefit)	857	2,181	2,101	3,250
Net income (loss)	264	3,053	1,790	4,309
Net (income) loss attributable to noncontrolling interests	(63)	(84)	(55)	(44)
Net income (loss) attributable to common shareholders	201	2,969	1,735	4,265
Diluted earnings (loss) per share:
Gain (Loss) on Investments		370		370
Other-than-temporary impairment losses recognized in earnings	(4,346)		(4,346)	0
Reportable Legal Entities [Member] | RSO [Member]
REVENUES:
Total revenues	24,201	23,828	48,562	49,073
COSTS AND EXPENSES:
General and administrative	0	0	0	0
Provision for credit losses	0	0	0	0
Depreciation and amortization	0	0	0	0
Costs and expenses	54,535	16,853	75,595	28,138
OPERATING INCOME (LOSS)	(30,334)	6,975	(27,033)	20,935
OTHER INCOME (EXPENSE):
Interest expense	0	0	0	0
Income (loss) from continuing operations before taxes	(19,797)	17,256	20	34,732
Income tax provision (benefit)	2,918	(446)	4,765	(430)
Net income (loss)	(22,715)	17,702	(4,745)	35,162
Net (income) loss attributable to noncontrolling interests	(8,296)	(3,025)	(16,864)	(5,369)
Net income (loss) attributable to common shareholders	(31,011)	14,677	(21,609)	29,793
Diluted earnings (loss) per share:
Other-than-temporary impairment losses recognized in earnings	0		0
Intersegment Eliminations [Member]
REVENUES:
Total revenues	(4,104)	(3,040)	(8,377)	(5,920)
COSTS AND EXPENSES:
Costs and expenses	$ (3,368)	$ (3,053)	$ (6,736)	$ (5,872)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net income (loss)	$ (23,641)	$ 20,207	$ (5,517)	$ 38,308
Current period changes for investment securities available- for- sale			19
Current period changes for pension liability			94
Foreign currency translation gain (losses), net of tax			2
Subtotal	(4,277)	3,784	(5,861)	3,823
Comprehensive income (loss)	(27,918)	23,991	(11,378)	42,131
Less: Comprehensive (income) loss attributable to noncontrolling interests	26,491	(21,366)	10,178	(38,449)
Comprehensive income (loss) attributable to common shareholders	(1,427)	2,625	(1,200)	3,682
RAI [Member]
Unrealized gains on investment securities available-for-sale	420	129	502	157
Less: reclassification for gains realized, net of tax	(242)	(231)	(483)	(231)
Current period changes for investment securities available- for- sale	178	(102)	19	(74)
Minimum pension liability adjustments, net of tax of $9, $62, $18 and $95	(9)	8	(18)	44
Reclassification for (gains) losses realized, net of tax of $50, $0, $99 and $0	56	0	112	0
Current period changes for pension liability	47	8	94	44
Unrealized gains (losses) on derivatives, net	0	3	0	4
Foreign currency translation gain (losses), net of tax	0	(2)	2	0
Subtotal	225	(93)	115	(26)
RSO [Member]
Unrealized gains on investment securities available-for-sale	(1,699)	264	1,424	(1,490)
Less: reclassification for gains realized, net of tax	(4,076)	2,722	(10,334)	4,187
Unrealized gains (losses) on derivatives, net	1,237	803	2,379	1,190
Foreign currency translation gain (losses), net of tax	0	16	429	(180)
Subtotal	(4,502)	3,877	(5,976)	3,849
Reclassification for realized (gains) losses from interest rate hedges	$ 36	$ 72	$ 126	$ 142

CONSOLIDATED STATEMENTS OF COM6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (PARENTHETICAL) - RAI [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Tax on unrealized (loss) gain on investment securities available-for-sale	$ 442	$ 33	$ 637	$ 52
Tax on reclassification for realized losses	(216)	(139)	(433)	(139)
Minimum pension liability adjustments	9	62	18	95
Tax on reclassification for realized losses	50	0	99	0
Tax on unrealized (loss) gain on hedging contracts	0	1	0	1
Tax on foreign currency translation gain	$ 0	$ 0	$ 2	$ 0

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - 6 months ended Jun. 30, 2015 - USD ($) $ in Thousands	Total	RAI [Member]	RSO [Member]	Total Stockholders' Equity [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]	Noncontrolling Interests [Member]RAI [Member]	Noncontrolling Interests [Member]RSO [Member]
Balance (in shares) at Dec. 31, 2014					22,725,151
Balance at Dec. 31, 2014	$ 1,080,443			$ 163,594	$ 335	$ 308,134	$ (23,663)	$ (120,182)	$ (1,030)	$ 306	$ 916,543
Increase (Decrease) Equity [Roll Forward]
Net income (loss)	(5,517)			(1,315)			(1,315)			55	(4,257)
Treasury shares issued (in shares)					27,012
Treasury shares issued	235			235		(36)		271
Stock-based compensation (in shares)					468,909
Stock-based compensation	1,641			1,641	$ 3	1,638		0
Repurchase of common stock (in shares)					(555,941)
Repurchases of common stock	(4,825)			(4,825)				(4,825)
Dividends declared on common stock	(2,665)			(2,665)			(2,665)
Change in noncontrolling interests in consolidated VIE-RSO	(47,212)										(47,212)
Other	15									15
Other comprehensive income (loss)	(5,861)	$ 115	$ (5,976)	115					115		(5,976)
Balance (in shares) at Jun. 30, 2015					22,665,131
Balance at Jun. 30, 2015	$ 1,016,254			$ 156,780	$ 338	$ 309,736	$ (27,643)	$ (124,736)	$ (915)	$ 376	$ 859,098

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (5,517)	$ 38,308
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	1,004
Provision for credit losses	678	2,783
Unrealized (gains) losses on trading securities	(42)
Equity in earnings (losses) of unconsolidated entities	(4,741)	(1,678)
Distributions from unconsolidated entities	4,998
(Gain) loss on sales of leases and loans	5
Net impairment losses recognized in earnings	4,346
Deferred income tax provision (benefit)	2,052
Equity-based compensation issued	1,604
(Gain) loss on trading securities	(15)
Trading securities purchases and sales, net	221
Foreign currency adjustments	(284)
Changes in operating assets and liabilities	153
Net cash provided by (used in) operating activities	(12,491)	49,853
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(352)
Investments in real estate and unconsolidated real estate entities	(3,295)
Principal payments on leases and loans	(5)
Purchase of loans and investments	(2,687)
Net cash provided by (used in) investing activities	(2,527)	(211,988)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on borrowings	0
Dividends paid	(2,622)
Proceeds from issuance of common stock	1
(Increase) decrease in restricted cash	(161)	(84)
Net cash provided by (used in) financing activities	11,236	154,140
Increase (decrease) in cash	(3,782)	(7,995)
Cash, beginning of year	27,542	19,853
Cash, end of period	23,760	11,858
RSO [Member]
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Equity in earnings (losses) of unconsolidated entities	(1,368)	(3,776)
Net impairment losses recognized in earnings	59	0
Adjustments to reconcile net income (loss) and operating cash flows to net income (loss) of consolidated VIE-RSO	(17,541)	74,724
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(228)	(332)
Increase (decrease) in restricted cash of consolidated VIE-RSO	57,089	10,543
Other investing activity of consolidated VIE-RSO	3,985	9,140
CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings of debt by consolidated VIE-RSO	84,283	48,965
Dividends paid	(47,070)	(50,885)
Other financing activity of consolidated VIE-RSO	(21,702)	(5,486)
Increase (decrease) in cash	65,105	(39,957)
Cash, beginning of year	79,905	262,270
Cash, end of period	145,010	222,313
RAI [Member]
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	1,004	992
Provision for credit losses	678	2,783
Unrealized (gains) losses on trading securities	(42)	(120)
Equity in earnings (losses) of unconsolidated entities	(4,741)	(1,678)
Distributions from unconsolidated entities	4,998	3,805
(Gain) loss on sales of leases and loans	(5)	0
Net impairment losses recognized in earnings	4,346	0
(Gain) loss on sales of assets	0	(370)
Deferred income tax provision (benefit)	2,052	3,250
Equity-based compensation issued	1,604	845
(Gain) loss on trading securities	15	(832)
Trading securities purchases and sales, net	221	(3,154)
Foreign currency adjustments	284	0
Changes in operating assets and liabilities	153	(12,605)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(352)	(176)
Investments in real estate and unconsolidated real estate entities	(3,295)	(1,194)
Principal payments on leases and loans	5	(2)
Purchase of loans and investments	(2,687)	(1,318)
Proceeds from sale of loans and investments	0	721
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase (decrease) in borrowings	0	2,500
Principal payments on borrowings	0	(2,706)
Dividends paid	(2,622)	(1,964)
Proceeds from issuance of common stock	1	1,550
Repurchases of common stock	(4,652)	(2,083)
Cash, beginning of year	27,542
Cash, end of period	23,760
RSO [Member]
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Adjustments to reconcile net income (loss) and operating cash flows to net income (loss) of consolidated VIE-RSO	(17,541)	18,629
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of loans and investments	(447,760)	(597,139)
Principal payments and proceeds from sales of loans and securities by consolidated VIE-RSO	390,488	367,437
Increase (decrease) in restricted cash of consolidated VIE-RSO	57,089	10,543
Other investing activity of consolidated VIE-RSO	3,985	9,140
CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings of debt by consolidated VIE-RSO	84,283	48,965
Dividends paid on common stock by consolidated VIE-RSO	(47,070)	(50,313)
Proceeds from issuance of common stock	3,159	163,319
Other financing activity of consolidated VIE-RSO	$ (21,702)	$ (5,044)

NATURE OF OPERATIONS

NATURE OF OPERATIONS	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NOTE 1 - 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”). RSO is reflected on a consolidated basis with the Company's financial statements for all periods presented ( see Note 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 six months ended June 30, 2015 may not necessarily be indicative of the results of operations for the full year ending December 31, 2015 . The Company conducts its real estate operations primarily through the following subsidiaries: • Resource Real Estate Advisor, LLC manages the activities of Resource Real Estate Opportunity REIT I ("Opportunity REIT I") and Resource Real Estate Advisor II, LLC manages the activities of Resource Real Estate Opportunity REIT II ("Opportunity REIT II"); the entities being managed are both public non-traded REITs; • Resource Capital Partners, Inc. acts as the general partner manager and managing member of, and provides asset management services to, the Company's eight real estate investment partnerships, six tenant-in-common ("TIC") programs and one limited liability company; • Resource Real Estate Management, Inc. (“Resource Residential”) provides property management services to the entire multifamily apartment portfolio, including fund assets, distressed assets and joint venture assets; • Resource Real Estate Funding, Inc., on behalf of RSO, manages the commercial real estate debt portfolio comprised principally of first priority interest in commercial mortgage loans ("A notes"), whole mortgage loans, mortgage participations, subordinated interests in commercial mortgage loans ("B notes"), mezzanine debt and related commercial real estate securities. In addition, it manages a separate portfolio of discounted real estate and real estate loans; and • Resource Real Estate, Inc. manages owned assets and ventures, which are collectively referred to as the “legacy portfolio.” The Company conducts its financial fund management operations primarily through the following operating entities: • CVC Credit Partners ("CVC Credit Partners"), a joint venture between the Company and an unrelated third-party, finances, structures and manages investments in bank loans, high yield bonds and equity investments through collateralized loan obligation issuers ("CLOs"), managed accounts and a credit opportunities fund; • Resource Capital Manager, Inc. ("RCM"), an indirect wholly-owned subsidiary, provides investment management and administrative services to RSO under a management agreement between the Company, RCM and RSO ('"the RCM Agreement"); • Resource Capital Markets, Inc. ("Resource Capital Markets"), through the Company's registered broker-dealer subsidiary, Resource Securities, Inc., acts as an agent in the primary and secondary markets for structured finance securities and transactions; • Northport Capital, LLC ("Northport"), provides middle market loan management and monitoring services to RSO under the RCM Agreement. • Trapeza Capital Management, LLC ("TCM"), a joint venture between the Company and an unrelated third-party, manages investments in trust preferred securities and senior debt securities of banks, bank holding companies, insurance companies and other financial companies through CDO issuers. TCM, together with the Trapeza CDO issuers, are collectively referred to as Trapeza; • Ischus Capital Management, LLC ("Ischus") finances, structures and manages investments in asset-backed securities ("ABS") including residential mortgage-backed securities ("RMBS") and commercial mortgage-backed securities, ("CMBS"); and • Resource Financial Institutions Group, Inc. (“RFIG”), serves as the general partner for seven company-sponsored affiliated partnerships which invest in financial institutions; The Company conducts its commercial finance operations through LEAF Commercial Capital, Inc. (“LEAF”) and LEAF Financial Corporation (“LEAF Financial”). As of June 30, 2015 , LEAF Financial sponsored and manages two publicly-held investment entities and LEAF acts as the sub-servicer of the respective portfolios of leases and loans held by those entities. During 2014, the Company liquidated two other commercial finance investment entities that were also sponsored and managed by LEAF Financial. CVC Credit Partners . In April 2012, the Company sold its equity interests in Apidos Capital Management, LLC ("Apidos") to CVC Capital Partners SICAV-FIS, S.A., a private equity firm (“CVC”), in exchange for (i) $25.0 million in cash, (ii) a 33% limited partner interest in CVC Credit Partners, a Cayman Islands limited partnership jointly owned by the Company and CVC, and (iii) a 33% interest in CVC Credit Partners' general partner, a Jersey corporation. The Company also retained a preferred equity interest in Apidos-CVC, which entitles it to receive distributions from CVC Credit Partners equal to 75% of the incentive management fees from the legacy Apidos portfolios. These investments are reflected as Investments in Unconsolidated Loan Manager on the consolidated balance sheets. On July 2, 2015, CVC exercised its option to purchase 9% of the Company's interest in the joint venture. In connection with the sale, the Company received $4.9 million in cash and has recorded an impairment charge in its second quarter to reflect the difference between the amount received and the pro rata carrying value of the 9% interest (see Note 8). The Company will reflect a 24% interest in the joint venture commencing in the third quarter. LEAF. In January 2011, the Company formed LEAF to conduct its equipment lease origination and servicing operations and to obtain outside equity and debt financing sources. On November 16, 2011, the Company and LEAF, together with RSO, entered into a stock purchase agreement and related agreements (collectively the “November 2011 LEAF Transaction”) with Eos Partners, L.P., a private investment firm, and its affiliates (“Eos”). The Company retained 18,414 shares of LEAF common stock, which represented 15.7% interest on a fully diluted bases and senior management of LEAF maintained a 10% fully-diluted interest. As of June 30, 2015 , additional investments made by Eos and RSO as well as warrants that were provided to LEAF's lender in accordance with a financing agreement have reduced the Company's and senior management's investments on a fully-diluted basis to 13.2% and 8.3% , respectively. The Company accounts for its investment in LEAF on the equity method.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - 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 follows the provisions of Accounting Standards Codification (“ASC”) Topic 810, Consolidation , and accordingly consolidates entities that are variable interest entities (“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 losses of the VIE that could potentially be significant to the VIE or the right to receive benefits of the VIE that could potentially be significant to the VIE. If the Company's interest possesses both of these characteristics, the Company is deemed to be the primary beneficiary and would be required to consolidate the VIE. The Company continually assesses its involvement with VIEs and re-evaluates 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. All intercompany transactions and balances have been eliminated in the Company's consolidated financial statements. Use of Estimates Preparation of the Company's consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and costs and expenses during the reporting period. The Company makes estimates of its allowance for credit losses, the valuation allowance against its deferred tax assets, discounts and collectability of management fees, the valuation of stock-based compensation, and in determining whether a decrease in the fair value of an investment is an other-than-temporary impairment. The real estate and financial fund management segments make assumptions in determining the fair value of investments in investment securities. Actual results could differ from these estimates. 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 estimates of future bad debts and recoveries. For receivables from the real estate investment entities, the Company estimates the cash flows through the sale of the underlying properties based on projected net operating income as a multiple of published capitalization rates, as reduced by the underlying mortgage balances and priority distributions due to the investors. Investment Securities The Company’s investment securities available-for-sale, including investments in the CLO issuers it sponsored, are carried at fair value. The fair value of the CLO investments is based primarily on internally-generated expected cash flow models that require significant management judgment and estimates due to the lack of market activity and the use of unobservable pricing inputs. The Company's investments in the common stock of The Bancorp, Inc. (NASDAQ: TBBK), Resource Credit Income Fund ("CIF") (NASDAQ: RCIIX), and Resource Real Estate Diversified Income Fund ("DIF") (NASDAQ: RREDX), all of which are affiliated entities, are valued at the closing prices of the respective publicly-traded stocks. The Company's investment in Resource Real Estate Global Property Securities ("RREGPS"), a Company-sponsored and managed Australian investment fund which is structured as a unit trust, has been valued at net asset value. In July 2015, the Company redeemed its interest in RREGPS and terminated its management agreement. The cumulative net unrealized gains (losses) on these investment securities, net of tax, is reported through accumulated other comprehensive income (loss). Realized gains (and losses) on the sale of investments are determined on the trade date on the basis of specific identification and are included in net operating results. Securities that are held principally for resale in the near term are recorded as trading securities at fair value with changes in fair value recorded in earnings. Reclassifications Certain reclassifications have been made to the 2014 consolidated financial statements to conform to the 2015 presentation. Recent Accounting Standards Newly-Adopted Accounting Principle The Company’s adoption of the following standard during the six months ended June 30, 2015 did not have a material impact on its consolidated financial position, results of operations or cash flows: In April 2014, the Financial Accounting Standards Board ("FASB") issued authoritative guidance to change the criteria for reporting discontinued operations. Under the new guidance, only disposals representing a strategic shift in a company's operations and financial results should be reported as discontinued operations, with expanded disclosures. In addition, disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify as a discontinued operation is required. This guidance was effective for the Company as of January 1, 2015. Accounting Standards Issued But Not Yet Effective In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers, which will replace most of the existing revenue recognition guidance in GAAP. The core principle of the ASU is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The ASU requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. The ASU will be effective for the Company beginning January 1, 2018, including interim periods in 2018, and allows for both retrospective and prospective methods of adoption. The Company is in the process of determining the method of adoption and assessing the impact of this ASU on its consolidated financial statements. In June 2014, the FASB issued ASU No. 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target Could be Achieved after the Requisite Service Period . ASU 2014-12 requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The guidance is effective for the Company beginning January 1, 2016. The Company is currently evaluating the impact of the new guidance on its financial statements and has not yet selected a transition approach to implement the standard. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern . Under the new guidance, an entity should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. The guidance is effective for the Company beginning January 1, 2017. Early application is permitted. The adoption of the new requirements is not expected to have a material impact on the Company's consolidated balance sheet, statement of operations, or statement of cash flows. In January 2015, the FASB issued ASU No. 2015-01, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items , which eliminates from GAAP the concept of an extraordinary item. As a result, an entity will no longer be required to segregate extraordinary items from the results of ordinary operations, to separately present an extraordinary item on its income statement, net of tax, after income from continuing operations or to disclose income taxes and earnings per share data applicable to an extraordinary item. However, presentation and disclosure guidance for items that are unusual in nature and occur infrequently will be retained. Adoption of this ASU will be required on a prospective or retrospective basis beginning with the quarter ending March 31, 2016 and is not expected to have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, Consolidation—Amendments to the Consolidation Analysis (Topic 810) . The guidance requires an entity to evaluate whether it should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments: (1) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIEs") or voting interest entities; (2) eliminate the presumption that a general partner should consolidate a limited partnership; (3) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and (4) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. This guidance is effective for the Company beginning January 1, 2016. Early application is permitted. The Company is currently evaluating the potential impact of this standard on its consolidated financial statements, as well as the available transition methods. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . The update requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. The update requires retrospective application and represents a change in accounting principle. The update is effective for the Company beginning January 1, 2016. Early adoption is permitted for financial statements that have not been previously issued. ASU 2015-03 is not expected to have a material impact on the Company’s consolidated financial statements.

CONSOLIDATING FINANCIAL INFORMA

CONSOLIDATING FINANCIAL INFORMATION	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
CONSOLIDATING FINANCIAL INFORMATION	NOTE 3 - CONSOLIDATING FINANCIAL INFORMATION The following table presents the consolidating balance sheet as of June 30, 2015 (in thousands): RAI RSO Eliminations Consolidated ASSETS Cash $ 23,760 $ — $ — $ 23,760 Restricted cash 886 — — 886 Receivables 1,181 — (120 ) 1,061 Receivables from managed entities and related parties, net 28,874 — (2,354 ) 26,520 Investments in real estate, net 17,040 — — 17,040 Investment securities, at fair value 21,944 — (11,074 ) 10,870 Investments in unconsolidated loan manager 36,526 — — 36,526 Investments in unconsolidated entities 24,883 — (7,999 ) 16,884 Assets of consolidated VIE-RSO: Cash and cash equivalents (including restricted cash) — 190,765 — 190,765 Investments, at fair value — 286,108 — 286,108 Loans — 2,154,007 — 2,154,007 Investments in real estate and unconsolidated entities — 56,330 — 56,330 Other assets-RSO — 87,014 — 87,014 Total assets of consolidated VIE-RSO — 2,774,224 — 2,774,224 Property and equipment, net 5,622 — — 5,622 Deferred tax assets, net 31,954 — (11,034 ) 20,920 Other assets 8,392 — — 8,392 Total assets $ 201,062 $ 2,774,224 $ (32,581 ) $ 2,942,705 LIABILITIES AND EQUITY Liabilities: Accrued expenses and other liabilities $ 21,241 $ — $ — $ 21,241 Payables to managed entities and related parties 4,748 — — 4,748 Borrowings 21,029 — — 21,029 Liabilities of consolidated VIE-RSO: Borrowings — 1,827,461 332 1,827,793 Other liabilities — 54,114 (2,474 ) 51,640 Total liabilities of consolidated VIE-RSO — 1,881,575 (2,142 ) 1,879,433 Total liabilities 47,018 1,881,575 (2,142 ) 1,926,451 Commitments and contingencies Equity: Preferred stock — — — — Common stock 338 — — 338 Additional paid-in capital 309,736 — — 309,736 Accumulated deficit (18,369 ) — (9,274 ) (27,643 ) Treasury stock, at cost (124,736 ) — — (124,736 ) Accumulated other comprehensive loss (13,301 ) — 12,386 (915 ) Total stockholders’ equity 153,668 — 3,112 156,780 Noncontrolling interests 376 — — 376 Noncontrolling interests attributable to consolidated VIE-RSO — 892,649 (33,551 ) 859,098 Total equity 154,044 892,649 (30,439 ) 1,016,254 Total liabilities and equity $ 201,062 $ 2,774,224 $ (32,581 ) $ 2,942,705 The following table presents the consolidating statement of operations for the three months ended June 30, 2015 (in thousands): RAI RSO Eliminations Consolidated REVENUES: Real estate $ 21,116 $ — $ — $ 21,116 Financial fund management 4,781 — — 4,781 Commercial finance 2 — — 2 25,899 — — 25,899 Revenues from consolidated VIE-RSO — 24,201 — 24,201 Elimination of consolidated VIE-RSO revenues attributed to operating segments — — (4,104 ) (4,104 ) Total revenues 25,899 24,201 (4,104 ) 45,996 COSTS AND EXPENSES: Real estate 12,082 — — 12,082 Financial fund management 3,154 — — 3,154 Commercial finance 458 — — 458 General and administrative 4,181 — — 4,181 Provision for credit losses 276 — — 276 Depreciation and amortization 515 — — 515 20,666 — — 20,666 Expenses of consolidated VIE-RSO — 54,535 — 54,535 Elimination of consolidated VIE-RSO expenses attributed to operating segments — — (3,368 ) (3,368 ) Total expenses 20,666 54,535 (3,368 ) 71,833 OPERATING INCOME (LOSS) 5,233 (30,334 ) (736 ) (25,837 ) OTHER INCOME (EXPENSE): Impairment on investment in unconsolidated entities (4,346 ) — — (4,346 ) Interest expense (455 ) — — (455 ) Other income (expense), net 689 — (458 ) 231 Other income (expense), net, from consolidated VIE-RSO — 10,537 — 10,537 Elimination of consolidated VIE-RSO other income, net — — 4 4 Total other income (expense) (4,112 ) 10,537 (454 ) 5,971 Income (loss) from continuing operations before taxes 1,121 (19,797 ) (1,190 ) (19,866 ) Income tax provision (benefit) 857 2,918 — 3,775 Net income (loss) 264 (22,715 ) (1,190 ) (23,641 ) Net (income) loss attributable to noncontrolling interests (63 ) — — (63 ) Net (income) loss attributable to noncontrolling interests-RSO — (8,296 ) 30,348 22,052 Net income (loss) attributable to common shareholders $ 201 $ (31,011 ) $ 29,158 $ (1,652 ) The following table presents the consolidating statement of operations for the three months ended June 30, 2014 (in thousands): RAI RSO Eliminations Consolidated REVENUES: Real estate $ 13,448 $ — $ — $ 13,448 Financial fund management 8,141 — — 8,141 Commercial finance (42 ) — — (42 ) 21,547 — — 21,547 Revenues from consolidated VIE-RSO — 23,828 — 23,828 Elimination of consolidated VIE-RSO revenues attributed to operating segments — — (3,040 ) (3,040 ) Total revenues 21,547 23,828 (3,040 ) 42,335 COSTS AND EXPENSES: Real estate 9,105 — — 9,105 Financial fund management 2,779 — — 2,779 Commercial finance 123 — — 123 General and administrative 2,729 — — 2,729 Provision for credit losses 1,575 — — 1,575 Depreciation and amortization 465 — — 465 Total other income (expense) 16,776 — — 16,776 Expenses of consolidated VIE-RSO — 16,853 16,853 Elimination of consolidated VIE-RSO expenses attributed to operating segments — — (3,053 ) (3,053 ) Total expenses 16,776 16,853 (3,053 ) 30,576 OPERATING INCOME (LOSS) 4,771 6,975 13 11,759 OTHER INCOME (EXPENSE): Gain (loss) on sale of investment securities, net 370 — — 370 Interest expense (497 ) — — (497 ) Other income (expense), net 590 — (572 ) 18 Other income (expense), net, from consolidated VIE-RSO — 10,281 — 10,281 Elimination of consolidated VIE-RSO other income, net — — 11 11 463 10,281 (561 ) 10,183 Income (loss) from continuing operations before taxes 5,234 17,256 (548 ) 21,942 Income tax provision (benefit) 2,181 (446 ) — 1,735 Net income (loss) 3,053 17,702 (548 ) 20,207 Income (loss) from continuing operations before taxes (84 ) — — (84 ) Net (income) loss attributable to noncontrolling interests-RSO — (3,025 ) (14,380 ) (17,405 ) Net income (loss) attributable to common shareholders $ 2,969 $ 14,677 $ (14,928 ) $ 2,718 The following table presents the consolidating statement of operations for the six months ended June 30, 2015 (in thousands): RAI RSO Eliminations Consolidated REVENUES: Real estate $ 38,082 $ — $ — $ 38,082 Financial fund management 9,918 — — 9,918 Commercial finance — — — — 48,000 — — 48,000 Revenues from consolidated VIE-RSO — 48,562 — 48,562 Elimination of consolidated VIE-RSO revenues attributed to operating segments — — (8,377 ) (8,377 ) Total revenues 48,000 48,562 (8,377 ) 88,185 COSTS AND EXPENSES: Real estate 23,581 — — 23,581 Financial fund management 6,144 — — 6,144 Commercial finance 1,037 — — 1,037 General and administrative 7,478 — — 7,478 Provision for credit losses 678 — — 678 Depreciation and amortization 972 — — 972 Total other income (expense) 39,890 — — 39,890 Expenses of consolidated VIE-RSO — 75,595 — 75,595 Elimination of consolidated VIE-RSO expenses attributed to operating segments — — (6,736 ) (6,736 ) Total expenses 39,890 75,595 (6,736 ) 108,749 OPERATING INCOME (LOSS) 8,110 (27,033 ) (1,641 ) (20,564 ) OTHER INCOME (EXPENSE): Impairment on investment in unconsolidated entities (4,346 ) — — (4,346 ) Interest expense (876 ) — — (876 ) Other income (expense), net 1,003 — (936 ) 67 Other income (expense), net, from consolidated VIE-RSO — 27,053 — 27,053 Elimination of consolidated VIE-RSO other income, net — — 15 15 (4,219 ) 27,053 (921 ) 21,913 Income (loss) from continuing operations before taxes 3,891 20 (2,562 ) 1,349 Income tax provision (benefit) 2,101 4,765 — 6,866 Net income (loss) 1,790 (4,745 ) (2,562 ) (5,517 ) Net (income) loss attributable to noncontrolling interests (55 ) — — (55 ) Net (income) loss attributable to noncontrolling interests-RSO — (16,864 ) 21,121 4,257 Net income (loss) attributable to common shareholders $ 1,735 $ (21,609 ) $ 18,559 $ (1,315 ) The following table presents the consolidating statement of operations for the six months ended June 30, 2014 (in thousands): RAI RSO Eliminations Consolidated REVENUES: Real estate $ 26,723 $ — $ — $ 26,723 Financial fund management 15,216 — — 15,216 Commercial finance (141 ) — — (141 ) 41,798 — — 41,798 Revenues from consolidated VIE-RSO — 49,073 — 49,073 Elimination of consolidated VIE-RSO revenues attributed to operating segments — — (5,920 ) (5,920 ) Total revenues 41,798 49,073 (5,920 ) 84,951 COSTS AND EXPENSES: Real estate 17,980 — — 17,980 Financial fund management 7,168 — — 7,168 Commercial finance 226 — — 226 General and administrative 5,883 — — 5,883 Provision for credit losses 2,783 — — 2,783 Depreciation and amortization 916 — — 916 Total other income (expense) 34,956 — — 34,956 Expenses of consolidated VIE-RSO — 28,138 — 28,138 Elimination of consolidated VIE-RSO expenses attributed to operating segments — — (5,872 ) (5,872 ) Total expenses 34,956 28,138 (5,872 ) 57,222 OPERATING INCOME (LOSS) 6,842 20,935 (48 ) 27,729 OTHER INCOME (EXPENSE): Gain on sale of investment securities, net 370 — — 370 Interest expense (980 ) — — (980 ) Other income (expense), net 1,327 — (1,144 ) 183 Other income (expense), net, from consolidated VIE-RSO — 13,797 — 13,797 Elimination of consolidated VIE-RSO other income, net — — 29 29 717 13,797 (1,115 ) 13,399 Income (loss) from continuing operations before taxes 7,559 34,732 (1,163 ) 41,128 Income tax provision (benefit) 3,250 (430 ) — 2,820 Net income (loss) 4,309 35,162 (1,163 ) 38,308 Net (income) loss attributable to noncontrolling interests (44 ) — — (44 ) Net (income) loss attributable to noncontrolling interests-RSO — (5,369 ) (29,187 ) (34,556 ) Net income (loss) attributable to common shareholders $ 4,265 $ 29,793 $ (30,350 ) $ 3,708 The following table presents the consolidating statement of cash flows for the six months ended June 30, 2015 (in thousands): RAI RSO Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 1,790 $ (4,745 ) $ (2,562 ) $ (5,517 ) Adjustments to reconcile net income (loss) to net cash Depreciation and amortization 1,004 — — 1,004 Provision for credit losses 678 — — 678 Unrealized gain (loss) on trading securities (42 ) — — (42 ) Equity in (earnings) losses of unconsolidated entities (6,296 ) — 1,555 (4,741 ) Distributions from unconsolidated entities 4,998 — — 4,998 Impairment on investment in unconsolidated entities 4,346 — — 4,346 (Gain) loss on sales of leases and loans (5 ) — — (5 ) Deferred income tax provision 2,052 — — 2,052 Equity-based compensation issued 1,604 — — 1,604 Foreign currency adjustments 284 — — 284 (Gain) loss on trading securities 15 — — 15 Trading securities purchases and sales, net 221 — — 221 Changes in operating assets and liabilities 153 — — 153 Adjustments to reconcile net income and operating cash flows to net income of consolidated VIE-RSO — (17,512 ) (29 ) (17,541 ) Net cash provided by (used in) operating activities 10,802 (22,257 ) (1,036 ) (12,491 ) CASH FLOWS FROM INVESTING ACTIVITIES: Capital expenditures (352 ) — — (352 ) Principal payments on leases and loans 5 — — 5 Investments in real estate and unconsolidated real estate entities (3,295 ) — — (3,295 ) Purchase of loans and securities by consolidated VIE-RSO — (447,760 ) — (447,760 ) Principal payments and proceeds from sales of loans and securities by consolidated VIE-RSO — 390,488 — 390,488 Purchase of loans and investments (2,687 ) — — (2,687 ) Decrease (increase) in restricted cash of consolidated VIE-RSO — 57,089 — 57,089 Other investing activity of consolidated VIE-RSO — 4,806 (821 ) 3,985 Net cash provided by (used) in investing activities (6,329 ) 4,623 (821 ) (2,527 ) RAI RSO Eliminations Consolidated CASH FLOWS FROM FINANCING ACTIVITIES: Principal payments on borrowings (821 ) — 821 — Net borrowings by consolidated VIE-RSO — 84,283 — 84,283 Dividends paid (2,622 ) — — (2,622 ) Dividends paid on common stock by consolidated VIE-RSO — (48,006 ) 936 (47,070 ) Proceeds from issuance of common stock 1 — — 1 Net proceeds from issuance of common stock by consolidated VIE-RSO — 3,159 — 3,159 Other financing activity of consolidated VIE - RSO — (21,802 ) 100 (21,702 ) Net cash (used in) provided by financing activities (8,255 ) 17,634 1,857 11,236 Decrease in cash (3,782 ) — — (3,782 ) Cash, beginning of year 27,542 — — 27,542 Cash, end of period $ 23,760 $ — $ — $ 23,760

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	NOTE 4 - SUPPLEMENTAL CASH FLOW INFORMATION Supplemental disclosure of cash flow information for the Company is as follows (in thousands, per share data): Six Months Ended June 30, 2015 2014 Cash (paid) received: Interest $ (948 ) $ (828 ) Income tax payments (1,088 ) (916 ) Refund of income taxes 52 48 Dividends declared per common share $ 0.12 $ 0.10 Non-cash activities: Repurchase of common stock from employees in exchange for the payment of income taxes $ 173 $ 255 Purchase of equipment on capital leases 881 — Issuance of treasury stock for the Company's investment savings 401(k) plan 271 306

FINANCING RECEIVABLES

FINANCING RECEIVABLES	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
FINANCING RECEIVABLES	NOTE 5 - FINANCING RECEIVABLES The following table is the aging of the Company’s financing receivables (presented gross of allowance for credit losses) as of June 30, 2015 (in thousands): Current 30-89 Days Past Due 90-180 Days Past Due Greater than 181 Days Total Past Due Total Loans and receivables from managed entities and related parties: (1) Commercial finance investment entities $ 2 $ 341 $ 1,121 $ 18,347 $ 19,809 $ 19,811 Real estate investment entities 4,067 269 1,094 15,069 16,432 20,499 Financial fund management entities 1,092 47 30 — 77 1,169 Other 2,706 — — — — 2,706 7,867 657 2,245 33,416 36,318 44,185 Rent receivables - real estate 168 8 3 — 11 179 Total financing receivables $ 8,035 $ 665 $ 2,248 $ 33,416 $ 36,329 $ 44,364 (1) Receivables are presented gross of an allowance for credit losses of $17.4 million related to one of the Company’s commercial finance investment entities and $307,000 related to one of its real estate investment partnerships. 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 financing receivables (presented gross of allowance for credit losses) as of December 31, 2014 (in thousands): Current 30-89 Days Past Due 90-180 Days Past Due Greater than 181 Days Total Past Due Total Loans and receivables from managed entities and related parties: (1) Commercial finance investment entities $ 9 $ 342 $ 1,124 $ 18,398 $ 19,864 $ 19,873 Real estate investment entities 6,613 772 1,214 15,134 17,120 23,733 Financial fund management entities 583 74 — 6 80 663 Other 3,024 — — — — 3,024 10,229 1,188 2,338 33,538 37,064 47,293 Rent receivables - real estate 76 11 1 — 12 88 Total financing receivables $ 10,305 $ 1,199 $ 2,339 $ 33,538 $ 37,076 $ 47,381 (1) Receivables are presented gross of an allowance for credit losses of $17.0 million related to one of 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 summarizes the activity in the allowance for credit losses for all financing receivables (in thousands): Receivables from Managed Entities Leases and Loans Rent Receivables Total Three Months Ended June 30, 2015: Balance, beginning of period $ 17,359 $ — $ 1 $ 17,360 Provision for (reversal) of credit losses 306 (31 ) 1 276 (Charge-offs) recoveries — 31 — 31 Balance, end of period $ 17,665 $ — $ 2 $ 17,667 Ending balance, individually evaluated for impairment $ 17,665 $ — $ 2 $ 17,667 Ending balance, collectively evaluated for impairment — — — — Balance, end of period $ 17,665 $ — $ 2 $ 17,667 Six Months Ended June 30, 2015: Balance, beginning of period $ 16,990 $ — $ — $ 16,990 Provision for (reversal) of credit losses 675 1 2 678 (Charge-offs) recoveries — (1 ) — (1 ) Balance, end of period $ 17,665 $ — $ 2 $ 17,667 Ending balance, individually evaluated for impairment $ 17,665 $ — $ 2 $ 17,667 Ending balance, collectively evaluated for impairment — — — — Balance, end of period $ 17,665 $ — $ 2 $ 17,667 Loans and receivables from Managed Entities Leases and Loans Rent Receivables Total Three Months Ended June 30, 2014: Balance, beginning of period $ 37,441 $ — $ 10 $ 37,451 Provision for credit losses 1,588 (5 ) (8 ) 1,575 Charge-offs (1 ) — — (1 ) Recoveries — 5 — 5 Balance, end of period $ 39,028 $ — $ 2 $ 39,030 Six Months Ended June 30, 2014: Balance, beginning of period $ 36,229 $ — $ 14 $ 36,243 Provision for credit losses 2,801 (6 ) (12 ) 2,783 Charge-offs (2 ) — — (2 ) Recoveries — 6 — 6 Balance, end of period $ 39,028 $ — $ 2 $ 39,030 Ending balance, individually evaluated for impairment $ 39,028 $ — $ — $ 39,028 Ending balance, collectively evaluated for impairment — — 2 2 Balance, end of period $ 39,028 $ — $ 2 $ 39,030 The Company’s financing receivables (presented exclusive of any allowance for credit losses) relate to the balance in the allowance for credit losses, as follows (in thousands): As of June 30, 2015: Receivables from Rent Total Ending balance, individually evaluated for impairment $ 44,185 $ — $ 44,185 Ending balance, collectively evaluated for impairment — 179 179 Balance, end of period $ 44,185 $ 179 $ 44,364 As of December 31, 2014: Ending balance, individually evaluated for impairment $ 47,293 $ — $ 47,293 Ending balance, collectively evaluated for impairment — 88 88 Balance, end of year $ 47,293 $ 88 $ 47,381 The following table discloses information about the Company’s impaired financing receivables (in thousands): Net Balance Unpaid Balance Specific Allowance Average Investment in Impaired Assets As of June 30, 2015: Financing receivables with a specific valuation allowance: Loans and receivables from managed entities – commercial finance $ 1,044 $ 18,402 $ 17,358 $ 18,420 Loans and receivables from managed entities – real estate 540 $ 849 307 606 Rent receivables – real estate — — 2 — As of December 31, 2014: Financing receivables with a specific valuation allowance: Loans and receivables from managed entities – commercial finance $ 1,295 $ 18,285 $ 16,990 $ 18,882 The Company had no impaired financing receivables without a specific allowance as of June 30, 2015 and December 31, 2014 .

INVESTMENTS IN REAL ESTATE

INVESTMENTS IN REAL ESTATE	6 Months Ended
	Jun. 30, 2015
Real Estate Investments, Net [Abstract]
INVESTMENTS IN REAL ESTATE	NOTE 6 - INVESTMENTS IN REAL ESTATE The Company’s investments in real estate, net, consist of the following (in thousands): June 30, December 31, Properties owned, net of accumulated depreciation of $9,464 and $9,198: Hotel property (Savannah, Georgia) $ 10,041 $ 10,110 Office building (Philadelphia, Pennsylvania) 912 888 10,953 10,998 Partnerships and other investments 6,087 6,099 Total investments in real estate, net $ 17,040 $ 17,097 The Company recorded rental income of $1.7 million and $2.9 million for three and six months ended June 30, 2015 , respectively, and, $1.6 million and $2.5 million for the three and six months ended June 30, 2014 , respectively. The contractual future minimum rental income on non-cancelable operating leases included in properties owned for each of the five succeeding annual periods ending June 30, and thereafter, are as follows (in thousands): 2016 $ 968 2017 777 2018 719 2019 561 2020 310 Thereafter 311 Total $ 3,646

INVESTMENT SECURITIES

INVESTMENT SECURITIES	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	NOTE 7 - INVESTMENT SECURITIES Components of investment securities are as follows (in thousands): June 30, December 31, Available-for-sale securities $ 10,589 $ 9,065 Trading securities 281 475 Total investment securities, at fair value $ 10,870 $ 9,540 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 Amortized Cost Unrealized Gains Unrealized Losses Fair Value As of June 30, 2015: CLO securities $ 7,692 $ 1,718 $ (33 ) $ 9,377 Equity securities 1,103 110 (1 ) 1,212 Total $ 8,795 $ 1,828 $ (34 ) $ 10,589 As of December 31, 2014: CLO securities $ 6,962 $ 1,228 $ (176 ) $ 8,014 Equity securities 888 163 — 1,051 Total $ 7,850 $ 1,391 $ (176 ) $ 9,065 CLO securities. The CLO securities represent the Company’s retained equity interests in 15 and 12 CLO issuers that CVC Credit Partners has sponsored and manages at June 30, 2015 and December 31, 2014 , respectively ( see Note 8 ). 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. Equity securities . The Company holds 18,972 shares of TBBK common stock. This investment is pledged as collateral for one of the Company’s secured corporate credit facilities. The Company also holds approximately 10,808 shares of DIF with a cost basis of $109,000 . The Company has an investment of $215,000 in CIF, a new interval fund, whose registration statement with respect to the offer and sale of its shares of beneficial interest was declared effective by the Securities and Exchange Commission on April 17, 2015 . In 2014 , the Company purchased 749,976 units of RREGPS for $677,400 . The Company sold its investment in RREGPS in July 2015. Trading securities. The Company had net gains on trading securities of $22,000 and $28,000 for the three and six months ended June 30, 2015 , respectively, including unrealized gains of $22,000 and $42,000 for the three and six months ended June 30, 2015 , respectively, which are included in Financial Fund Management Revenues on the consolidated statements of operations. The Company had net gains on trading securities of $870,000 and $987,000 during the three and six months ended June 30, 2014 , respectively, including unrealized losses of $192,000 and unrealized gains of $120,000 respectively. Unrealized losses on available-for-sale securities, along with their related fair value, 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 Losses Number of Securities Fair Value Unrealized Losses Number of Securities June 30, 2015 CLO securities $ 979 $ (33 ) 2 $ — $ — — Equity securities 214 (1 ) 1 — — — Total $ 1,193 $ (34 ) 3 $ — $ — — December 31, 2014 CLO securities $ 2,643 $ (176 ) 4 $ — $ — — Equity securities — — — — — — Total $ 2,643 $ (176 ) 4 $ — $ — —

INVESTMENTS IN UNCONSOLIDATED E

INVESTMENTS IN UNCONSOLIDATED ENTITIES AND LOAN MANAGER	6 Months Ended
	Jun. 30, 2015
Investments in Unconsolidated Entities [Abstract]
INVESTMENTS IN UNCONSOLIDATED ENTITIES AND LOAN MANAGER	NOTE 8 - 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 June 30, December 31, Real estate investment entities 1% – 12% $ 11,461 $ 8,313 Financial fund management partnerships 0.01% − 50% 4,802 4,162 Trapeza entities 33% − 50% 621 614 Investments in unconsolidated entities $ 16,884 $ 13,089 Included in real estate investment entities is the Company's $2.5 million investment in Opportunity REIT I, which completed its initial public offering in December 2013 as well as a $1.3 million investment in Opportunity REIT II, which is still in its offering stage and a $200,000 investment in Innovation Office REIT, Inc. ("Innovation Office REIT"), was declared effective by the Securities and Exchange Commission on June 10, 2015 . The Company accounts for its investments in Opportunity REITs I and II and the Innovation Office REIT on the cost method. In June 2015 , the Company invested $3.0 million into a 50/50 joint venture with the principals of Pearlmark Real Estate Partners, L.L.C. The joint venture, Pearlmark Real Estate, LLC ("Pearlmark") will focus on managing institutional real estate investments (see Note 17). The Company accounts for its investment in Pearlmark on the equity method of accounting. In July 2015, Pearlmark commenced fundraising for two initial funds. 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. The Company records its 33% equity share of the operating results of CVC Credit Partners in Financial Fund Management Revenues on the consolidated statements of operations and comprehensive income. In accordance with the CVC Credit Partners shareholders' agreement, in July 2015, CVC exercised its option to buy down the Company's interests in the joint venture by 9% , which will reduce the Company's interest to 24% commencing in the third quarter. In conjunction with the buy down, the Company recorded an impairment charge of $4.3 million on its investment in CVC Credit Partners during the three and six months ended June 30, 2015. The purchase price, an agreed upon formulaic option price based on finalized 2014 results of the joint venture, was not indicative of its fair value. The remaining interests held by the Company were valued by a third-party valuation firm, which concluded that the fair value exceeded the book value and, as such, there was no further impairment. Summarized operating data for CVC Credit Partners is presented below (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Management fee revenues $ 15,891 $ 14,399 $ 32,629 $ 26,787 Costs and expenses (14,118 ) (13,551 ) (28,927 ) (24,847 ) Net income $ 1,773 $ 848 $ 3,702 $ 1,940 Portion of net income attributable to the Company $ 580 $ 280 $ 1,222 $ 641 The Company has a preferred interest in Apidos relating to incentive management fees on legacy CLOs that had been sponsored and managed by Apidos. The Company accounts for this interest, with a book value of $6.8 million at June 30, 2015 , on the cost method. As these incentive 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. Each quarter the Company evaluates 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. At such time that the investment has been reduced to zero, all subsequent distributions will be recorded as income.

ACCRUED EXPENSES AND OTHER LIAB

ACCRUED EXPENSES AND OTHER LIABILITIES	6 Months Ended
	Jun. 30, 2015
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER LIABILITIES	NOTE 9 - ACCRUED EXPENSES AND OTHER LIABILITIES The following is a summary of the components of accrued expenses and other liabilities (in thousands): June 30, December 31, Accounts payable and other accrued liabilities $ 7,091 $ 6,045 Supplemental executive retirement plan ("SERP") liability (see Note 14) 6,052 6,383 Accrued wages and benefits 3,584 4,580 Deferred rent 2,475 2,485 Apidos contractual obligation, at fair value (see Notes 8 and 16) 664 745 Dividends 1,355 1,312 Insurance notes 20 729 Total accrued expenses and other liabilities $ 21,241 $ 22,279

BORROWINGS

BORROWINGS	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
BORROWINGS	NOTE 10 - BORROWINGS The credit facilities and other debt of the Company and related borrowings outstanding are as follows (in thousands): As of June 30, 2015 December 31, Maximum Amount of Facility Borrowings Outstanding Borrowings Outstanding Credit facilities: TD Bank – secured revolving credit facility (1) $ 10,997 $ — $ — Republic Bank – secured revolving credit facility 2,432 — — — — Other debt: Senior Notes 10,000 10,000 Mortgage debt - hotel property 9,984 10,088 Other debt 1,045 324 Total borrowings outstanding $ 21,029 $ 20,412 (1) The amount of the facility as shown has been reduced $503,000 for an outstanding letter of credit. Corporate and Real Estate Debt TD Bank, N.A. (“TD Bank”) . Through April 24, 2014, the terms of the Company's line of credit with TD Bank allowed for borrowings up to $7.5 million with interest at either (a) the prime rate plus 2.25% or (b) a specified London Interbank Offered Rate (" LIBOR ") plus 3% . The interest rate used varies from one to six month LIBOR depending upon the period of the borrowing. In April 2014, the Company amended the TD facility to (i) extend the maturity date to the earlier of (a) the expiration of its management agreement with RSO or (b) December 31, 2017 , (ii) increase the maximum borrowing amount to $11.5 million provided that the Company maintains an aggregate value of pledged securities of $6.0 million and (iii) require that the Company have no cash advances outstanding for thirty consecutive days during each one -year period beginning on April 25, 2014 . The Company is charged an annual fee of 0.5% on the unused facility amount as well as a 5.25% fee on a $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 collateralized debt and loan obligation issuers, (ii) a pledge of 18,972 shares of TBBK common stock, and (iii) a pledge of 2,160,671 shares of RSO common stock held by the Company. There were no borrowings outstanding as of June 30, 2015 and the availability on the TD facility was $11.0 million , as reduced for the letter of credit. There were no borrowings under this facility as of December 31, 2014 . 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 common stock held by the Company and a first priority security interest in an office building located in Philadelphia, Pennsylvania ( see Note 6 ). Availability under this facility is limited to the lesser of (a) the sum of (i) 25% of the appraised value of the real estate, based upon the most recent appraisal delivered to the bank 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 loan has an unused annual facility fee equal to 0.25% . In November 2013, the Company further amended this facility to extend the maturity date to December 28, 2016 and increase the unused annual facility fee to 0.5% . There were no borrowings under this facility as of June 30, 2015 and the availability was $2.4 million . There were no borrowings under this facility as of December 31, 2014 . Senior Notes The Company's $10.0 million of 9% senior notes (the "Senior Notes") mature on March 31, 2018 . The effective interest rate for the three and six months ended June 30, 2015 was 9.1% and 9.1% , respectively, and 9.4% and 9.4% for the three and six months ended June 30, 2014 , respectively. The Company may early redeem all or any part of the Senior Notes upon notification to the note holders at the redemption price plus any accrued and unpaid interest through to the date of such redemption. The redemption price is at a premium to par, as follows: prior to March 31, 2016 at 102% , between March 31, 2016 and March 31, 2017 at 101% , and thereafter at 100% . Other Debt - Real Estate and Corporate Real estate - mortgage. The Company has a $10.7 million mortgage on its hotel property in Savannah, Georgia. The 6.36% fixed rate mortgage, which matures in September 2021, requires monthly payments of principal and interest of $71,331 . Corporate and real estate - capital leases. As of June 30, 2015 , the Company has various capital leases for computer equipment. Debt Repayments Annual principal payments coming due on the Company’s aggregate borrowings for the next five years ending June 30, and thereafter, are as follows (in thousands): 2016 $ 603 2017 10,608 2018 532 2019 265 2020 281 Thereafter 8,740 Total $ 21,029 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 covenant for the mortgage on the Company's hotel property requires maintaining a minimum debt coverage ratio. In addition, 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 June 30, 2015 .

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Jun. 30, 2015
Comprehensive Income (Loss) [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 11 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Comprehensive income (loss) includes net income (loss) and all other changes in the equity of a business from transactions and other events and circumstances from non-owner sources. These changes, other than net income (loss), are referred to as “other comprehensive income (loss)” and for the Company include primarily changes in the fair value, net of tax, of its investment securities available-for-sale and pension liability. The following are changes in accumulated other comprehensive (loss) income by category (in thousands): Investment Securities Available-for-Sale Cash Flow Hedges Foreign Currency Translation Adjustments SERP Pension Liability Total Balance, December 31, 2014, net of tax of $472, $0, $(3) and $(2,700) $ 1,979 $ (1 ) $ (5 ) $ (3,003 ) $ (1,030 ) Current-period other comprehensive (loss) income 19 — 2 94 115 Balance, June 30, 2015 net of tax of $676, $0, $(3) and $(2,583) $ 1,998 $ (1 ) $ (3 ) $ (2,909 ) $ (915 ) Amounts reclassified from accumulated other comprehensive income were reflected in the consolidated financial statements, as follows: Category Locations in the consolidated financial statements Investment securities available-for-sale Revenues - Financial fund management Cash flow hedges Revenues - commercial finance SERP pension liability General and administrative expenses Foreign currency translation adjustments Other income

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS	6 Months Ended
	Jun. 30, 2015
Noncontrolling Interest [Abstract]
NONCONTROLLING INTERESTS	NOTE 12 - NONCONTROLLING INTERESTS The following table presents the activity in noncontrolling interests (in thousands): For the Six Months Ended RSO Other Noncontrolling interests, beginning of year $ 916,543 $ 306 Net income (loss) attributable to noncontrolling interests (4,257 ) 55 Other comprehensive loss (5,976 ) 15 Proceeds from issuance of equity interests, net 3,159 — Amortization of stock-based compensation 1,787 — Discount on 6% senior convertible notes 2,528 — Contributions from (distributions to) noncontrolling interests (55,279 ) — Other 593 — Noncontrolling interests, end of period $ 859,098 $ 376

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 13 - 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 per share (“Diluted EPS”) computation takes into account the effect of potential dilutive common shares. Potential dilutive 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 Six Months Ended June 30, June 30, 2015 2014 2015 2014 Shares Basic shares outstanding 22,867 20,386 22,915 20,320 Dilutive effect of outstanding director units and stock options (1) — 1,646 — 1,711 Diluted shares outstanding 22,867 22,032 22,915 22,031 (1) Due to the losses for the three and six months ended June 30, 2015 , director units and stock options outstanding were antidilutive and, therefore, excluded from the Diluted EPS computation. As a result, Basic EPS and Diluted EPS shares were the same. Excluded from the Diluted EPS calculation were outstanding options to purchase 565,000 shares of common stock at a weighted average exercise price of $17.62 per share.

BENEFIT PLANS

BENEFIT PLANS	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
BENEFIT PLANS	NOTE 14 - BENEFIT PLANS 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. The plan pays Mr. E. Cohen an annual benefit of $838,000 during his lifetime. The components of net periodic benefit costs for the SERP were as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Interest cost $ 63 $ 69 $ 125 $ 137 Less: expected return on plan assets (18 ) (39 ) (37 ) (78 ) Plus: amortization of unrecognized loss 105 69 211 139 Net cost $ 150 $ 99 $ 299 $ 198 Restricted stock. The value of the restricted stock awarded is based on the closing price of the Company's common stock as of the date of grant. During the six months ended June 30, 2015 and 2014 , the Company awarded 440,852 and 417,407 shares of restricted stock valued at $3.9 million and $3.7 million , respectively. Additionally, for the six months ended June 30, 2015 , there were 45,306 shares earned as part of a performance-based award valued at $420,000 .

CERTAIN RELATIONSHIPS AND RELAT

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS	NOTE 15 - 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): June 30, December 31, Receivables from managed entities and related parties, net: Real estate investment entities (1) $ 20,191 $ 23,733 Commercial finance investment entities (2) 2,453 2,883 Financial fund management investment entities 1,172 663 Other 326 488 Loan receivable from CVC Credit Partners 2,378 2,536 Receivables from managed entities and related parties $ 26,520 $ 30,303 Payables due to managed entities and related parties, net: Real estate investment entities (3) $ 4,665 $ 2,942 Other 83 73 Payables to managed entities and related parties $ 4,748 $ 3,015 (1) Includes a $307,000 reserve for credit losses for management fees due from one of the Company's real estate investment entities: there was no reserve at December 31, 2014 . (2) Amounts shown are net of reserves for credit losses of $17.4 million and $17.0 million as of June 30, 2015 and December 31, 2014 , respectively, related to management fees due from one of the Company's commercial finance investment entities that, based on estimated cash distributions, are not expected to be collectible. (3) Reflects $4.3 million and $2.6 million in self-insurance funds provided by the Company's real estate investment entities as of June 30, 2015 and December 31, 2014 , respectively, which are held in escrow by the Company to cover claims. The Company receives fees, dividends and reimbursed expenses from several related/managed entities. In addition, the Company reimburses related entities for certain operating expenses. The following table details those activities (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Fees from unconsolidated investment entities : Real estate (1) $ 12,173 $ 8,519 $ 21,607 $ 17,444 Financial fund management 785 1,265 1,567 2,067 Commercial finance (2) — — — — CVC Credit Partners – reimbursement of net costs and expenses 246 444 475 625 RRE Opportunity REIT I: Reimbursement of costs and expenses 934 564 1,822 915 Dividends paid 29 29 44 58 RRE Opportunity REIT II: Reimbursement of costs and expenses 762 446 1,499 948 Dividends paid 13 — 20 — LEAF: Payment for sub-servicing the commercial finance investment partnerships (18 ) (74 ) (41 ) (201 ) Reimbursement of net costs and expenses 41 28 77 64 1845 Walnut Associates Ltd: Payment for rent and related expenses (209 ) (203 ) (416 ) (407 ) Property management fees 38 77 76 93 Brandywine Construction & Management, Inc. – payment for property management of hotel property (81 ) (72 ) (133 ) (112 ) Atlas Energy, L.P. – reimbursement of net costs and expenses 11 42 24 72 Ledgewood P.C. – payment for legal services (55 ) (43 ) (89 ) (67 ) Graphic Images, LLC – payment for printing services (36 ) (29 ) (84 ) (89 ) The Bancorp, Inc. – reimbursement of net costs and expenses — 28 — 55 9 Henmar LLC – payment of broker/consulting fees (14 ) (15 ) (17 ) (18 ) (1) Reflects the reversal of discounts of $3,000 and $210,000 for the three and six months ended June 30, 2015 , respectively, and $41,000 and $74,000 for the three and six months ended June 30, 2014 , respectively, in connection with management fees from the Company's real estate investment entities that it expects to receive in future periods. (2) The Company waived management fees from its commercial finance investment entities of $31,000 and $80,000 during the three and six months ended June 30, 2015 , respectively, and $276,000 and $500,000 during the three and six months ended June 30, 2014 , respectively . Relationship with Opportunity REIT I. As of June 30, 2015 and December 31, 2014 , the Company had a receivable of $347,000 and $325,000 , respectively, for reimbursement of operating costs and expenses. Relationship with Opportunity REIT II. On February 6, 2014, Opportunity REIT II commenced its initial public offering of up to $1.0 billion in common stock at a maximum price of $10 per share. This fund focuses on acquiring under-performing multifamily rental properties, distressed real estate and performing loans and is externally managed by Resource Real Estate, a subsidiary of the Company. As of June 30, 2015 and December 31, 2014 , the Company had an $893,000 and $3.4 million receivable from Opportunity REIT II for offering costs and operating expense reimbursements. On June 14, 2014, the Company had provided a $1.3 million short-term bridge loan to Opportunity REIT II with interest at LIBOR plus 300 basis points which was repaid in full by June 30, 2014. Relationship with CVC Credit Partners. On May 6, 2014, the Company made a €1.5 million bridge loan to CVC Credit Partners with interest accruing at a rate of the Euro Interbank Offered Rate (" EURIBOR ") plus 7% . In connection with the original loan agreement, the Company made an additional advance of €500,000 on December 8, 2014 . In September 2014, the Company extended the maturity of the note until April 2015 and, in March of 2015 , further extended the maturity to September 30, 2015 . Advances to Real Estate Limited Partnership. The Company made advances to one of its affiliated real estate limited partnerships under a revolving note of up to $3.0 million bearing interest at the prime rate . Advances outstanding of $2.3 million as of June 30, 2014 were repaid in full on December 16, 2014. The Company recorded interest income on this loan of $19,000 and $37,000 , respectively, for the three and six months ended June 30, 2014 . In February 2014, the Company loaned a non-executive employee $300,000 under a promissory note bearing interest at 3-month LIBOR plus 3% , resetting annually. In December 2014, the Company amended the terms of the note to provide for an initial repayment of $50,000 plus accrued interest, which was paid on March 15, 2015, with the remaining principal and interest due in full on March 15, 2016.

FAIR VALUE

FAIR VALUE	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE	NOTE 16 - 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 i nputs 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. Investment securities. The Company uses quoted market prices to value its investments in DIF, CIF and TBBK common stock (Level 1) and net asset value ("NAV") calculated by the independent fund administrator to value its investment in RREGPS. The Company can redeem its investment in RREGPS with 60-day notice. The underlying investments in RREGPS are all publicly-traded securities as of June 30, 2015 (Level 2). The fair value of the Company's investments in CLO and CDO securities are 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. The significant unobservable inputs used in the fair value measurement include the constant prepayment rate ("CPR"), a probability of default ("CDR"), 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. As of June 30, 2015 , the Company holds four securities of value within its trading portfolio, three of which are debt/equity investments in externally managed CDO issuers and one is a term loan (Level 3). Investment in Apidos-CVC preferred stock and contractual commitment . The Company's contractual commitment associated with its investment in the Apidos-CVC preferred stock was initially valued at $589,000 based on the present value of the underlying discounted projected cash flows of the legacy Apidos incentive management fees (Level 3). The fair value of the Company’s assets and liabilities recorded at fair value on a recurring basis were as follows (in thousands): Level 1 Level 2 Level 3 Total Assets - Investment securities June 30, 2015 $ 497 $ 715 $ 9,658 $ 10,870 December 31, 2014 $ 310 $ 741 $ 8,489 $ 9,540 Liabilities - Apidos contractual commitment Level 1 Level 2 Level 3 Total June 30, 2015 $ — $ — $ 664 $ 664 December 31, 2014 $ — $ — $ 745 $ 745 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 six months ended June 30, 2015 (in thousands): Investment Securities Balance, beginning of year $ 8,489 Purchases 1,056 Income accreted 572 Payments and distributions received, net (944 ) Sales (175 ) Losses on sales of trading securities (15 ) Unrealized holding gains on trading securities 43 Change in unrealized gains included in accumulated other comprehensive loss 632 Balance, end of period $ 9,658 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 year ended December 31, 2014 (in thousands): Investment Securities Balance, beginning of year $ 7,407 Purchases 15,063 Income accreted 995 Payments and distributions received, net (3,752 ) Sales (13,235 ) Gain on sale of investment securities, net 445 Unrealized losses on trading securities (200 ) Gains on trading securities 1,834 Change in unrealized losses included in accumulated other comprehensive loss (68 ) Balance, end of year $ 8,489 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 June 30, 2015 Valuation Technique Unobservable Inputs Assumptions (weighted average) CLO securities $ 9,377 Discounted cash flow Constant default rate 0% - 2% Loss severity rate 25% Constant prepayment rate - year one 30% Constant prepayment rate - thereafter 25% Reinvestment price on collateral 99.5% Reinvestment spread 0% - 450% Discount rates 14% Trading securities $ 281 Net asset value Value of underlying assets variable Discounted cash flow Constant default rate 5% - 9% Constant prepayment rate 20% - 30% Loss severity rate 30% 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): June 30, 2015 December 31, 2014 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Borrowings: Real estate debt $ 9,984 $ 10,820 $ 10,088 $ 11,197 Senior Notes 10,000 13,240 10,000 12,820 Other debt 1,045 1,045 324 324 $ 21,029 $ 25,105 $ 20,412 $ 24,341 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 attributes as the Senior Notes. The carrying value of the Company's other debt was estimated using current interest rates for similar loans at June 30, 2015 and December 31, 2014 .

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 17 - COMMITMENTS AND CONTINGENCIES 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 $134,000 and $100,000 as of June 30, 2015 and December 31, 2014 , respectively. As of June 30, 2015 and December 31, 2014 , Resource Securities net capital was $881,000 and $1.4 million , respectively, which exceeded the minimum requirements by $700,000 and $1.3 million , respectively. Clawback liability. One of the Company's structured finance partnerships that invests in public and private regional banks has a potential clawback of up to 75% of the management fees paid to the Company ( $1.1 million as of June 30, 2015 ) to the extent that the limited partners’ aggregate capital contributions exceed the total partner distributions from the fund. As of June 30, 2015 , the fair value of the fund's assets were sufficient to cover the distribution requirement and, as such, no liability has been recorded for this contingency. Legal proceedings . 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. Real estate commitments. As a specialized asset manager, the Company sponsors and manages investment funds in which it may make an equity investment along with outside investors. This equity investment is generally based on a percentage of funds raised and varies among investment programs. With respect to the Innovation Office REIT, in addition to the $200,000 initial capital investment, the Company is committed to invest up to 1% of the first $100.0 million of equity raised to a maximum of $1.0 million . The liability for this commitment will be recorded in the future as the amounts become due and payable. In connection with the Pearlmark joint venture, the Company is committed to fund up to $8.0 million , of which $3.0 million has been funded as of June 2015. The agreement limits the 2015 contributions to $6.0 million . This funding is reflected as the Company's investment in Pearlmark and will have a preference in distributions, plus a 10% internal rate of return, from the joint venture before any monies will be distributed to the other investors. Financial fund management commitments. In connection with the Company's investment in CVC Credit Partners, the joint venture, in its capacity as the fund manager for some its managed accounts/funds, is contractually committed to invest capital along with third-party investors. Accordingly, as of June 30, 2015, the Company’s pro-rata portion of the unfunded capital commitments totaled $5.4 million across four such funds/accounts. The Company expects these unfunded commitments to be called over the next two years. 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 June 30, 2015 , except for the 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 were recorded in the consolidated financial statements.

OPERATING SEGMENTS

OPERATING SEGMENTS	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
OPERATING SEGMENTS	NOTE 18 - 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" 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): Three Months Ended Real Financial Commercial All (1) Total RSO Eliminations Total Revenues from external customers $ 19,705 $ 2,556 $ 7 $ — $ 22,268 $ 24,201 $ (3,370 ) $ 43,099 Equity in earnings (losses) of unconsolidated entities 1,411 2,225 (5 ) — 3,631 — (734 ) 2,897 Total revenues 21,116 4,781 2 — 25,899 24,201 (4,104 ) 45,996 Segment operating expenses (12,082 ) (3,154 ) (458 ) (15,694 ) (54,535 ) 3,368 (66,861 ) General and administrative expenses (1,376 ) (451 ) — (2,354 ) (4,181 ) — — (4,181 ) Provision for credit losses (194 ) — (82 ) — (276 ) — — (276 ) Depreciation and amortization (343 ) (16 ) — (156 ) (515 ) — — (515 ) Impairment on investment in unconsolidated entities — (4,346 ) — — (4,346 ) — — (4,346 ) Interest expense (179 ) — (1 ) (275 ) (455 ) — — (455 ) Other income (expense), net 248 475 2 (36 ) 689 10,537 (454 ) 10,772 Pretax loss (income) attributable to noncontrolling interests (2) (63 ) — — — (63 ) (8,296 ) 30,348 21,989 Income (loss) from continuing operations, net of noncontrolling interests before taxes $ 7,127 $ (2,711 ) $ (537 ) $ (2,821 ) $ 1,058 $ (28,093 ) $ 29,158 $ 2,123 Six Months Ended Real Financial Commercial All (1) Total RSO Eliminations Total Revenues from external customers $ 35,999 $ 5,685 $ 20 $ — $ 41,704 $ 48,562 $ (6,822 ) $ 83,444 Equity in earnings (losses) of unconsolidated entities 2,083 4,233 (20 ) — 6,296 — (1,555 ) 4,741 Total revenues 38,082 9,918 — — 48,000 48,562 (8,377 ) 88,185 Segment operating expenses (23,581 ) (6,144 ) (1,037 ) — (30,762 ) (75,595 ) 6,736 (99,621 ) General and administrative expenses (2,255 ) (735 ) (4,488 ) (7,478 ) — — (7,478 ) Provision for credit losses (308 ) — (370 ) — (678 ) — — (678 ) Depreciation and amortization (655 ) (32 ) — (285 ) (972 ) — — (972 ) Impairment on investment in unconsolidated entities — (4,346 ) — — (4,346 ) — — (4,346 ) Interest expense (362 ) — (1 ) (513 ) (876 ) — — (876 ) Other income (expense), net 471 916 3 (387 ) 1,003 27,053 (921 ) 27,135 Pretax income attributable to noncontrolling interests (2) (55 ) — — — (55 ) (16,864 ) 21,121 4,202 Income (loss) from continuing operations, net of noncontrolling interests before taxes $ 11,337 $ (423 ) $ (1,405 ) $ (5,673 ) $ 3,836 $ (16,844 ) $ 18,559 $ 5,551 Three Months Ended Real Financial Commercial All Other (1) Total RSO Eliminations Total Revenues from external customers $ 13,674 $ 6,826 $ — $ — $ 20,500 $ 23,828 $ (3,040 ) $ 41,288 Equity in (losses) earnings of unconsolidated entities (226 ) 1,315 (42 ) — 1,047 — — 1,047 Total revenues 13,448 8,141 (42 ) — 21,547 23,828 (3,040 ) 42,335 Segment operating expenses (9,105 ) (2,779 ) (123 ) — (12,007 ) (16,853 ) 3,053 (25,807 ) General and administrative expenses (731 ) (445 ) — (1,553 ) (2,729 ) — — (2,729 ) Reversal of (provision for) credit losses 7 — (1,582 ) — (1,575 ) — — (1,575 ) Depreciation and amortization (310 ) (20 ) — (135 ) (465 ) — — (465 ) Gain on sale of investment securities, net — 370 — — 370 — — 370 Interest expense (191 ) — (9 ) (297 ) (497 ) — — (497 ) Other income, net 111 555 — (76 ) 590 10,281 (561 ) 10,310 Pretax loss (income) attributable to noncontrolling interests (2) (84 ) — — — (84 ) (17,405 ) — (17,489 ) Income (loss) from continuing operations, net of noncontrolling interests before taxes $ 3,145 $ 5,822 $ (1,756 ) $ (2,061 ) $ 5,150 $ (149 ) $ (548 ) $ 4,453 Six Months Ended Real Financial Commercial All (1) Total RSO Eliminations Total Revenues from external customers $ 27,304 $ 12,816 $ — $ — $ 40,120 $ 49,073 $ (5,920 ) $ 83,273 Equity in (losses) earnings of unconsolidated entities (581 ) 2,400 (141 ) — 1,678 — — 1,678 Total revenues 26,723 15,216 (141 ) — 41,798 49,073 (5,920 ) 84,951 Segment operating expenses (17,980 ) (7,168 ) (226 ) — (25,374 ) (28,138 ) 5,872 (47,640 ) General and administrative expenses (1,827 ) (898 ) — (3,158 ) (5,883 ) — — (5,883 ) Reversal of (provision for) credit losses 10 — (2,793 ) — (2,783 ) — — (2,783 ) Depreciation and amortization (618 ) (31 ) — (267 ) (916 ) — — (916 ) Gain on sale of investment securities, net — 370 — — 370 — — 370 Interest expense (387 ) — (9 ) (584 ) (980 ) — — (980 ) Other income, net 367 1,126 (2 ) (164 ) 1,327 13,797 (1,115 ) 14,009 Pretax income attributable to noncontrolling interests (2) (44 ) — — — (44 ) (34,556 ) — (34,600 ) Income (loss) from continuing operations including noncontrolling interests before taxes $ 6,244 $ 8,615 $ (3,171 ) $ (4,173 ) $ 7,515 $ 176 $ (1,163 ) $ 6,528 Segment assets Real Financial Commercial All (1) Total RSO Total June 30, 2015 $ 197,599 $ 49,022 $ 3,863 $ (82,003 ) $ 168,481 $ 2,774,224 $ 2,942,705 June 30, 2014 $ 183,279 $ 59,959 $ 5,469 $ (83,429 ) $ 165,278 $ 2,558,168 $ 2,723,446 (1) Includes general corporate expenses and assets not allocable to any particular segment. (2) In viewing its segment operations, the Company includes the pretax income attributable to noncontrolling interests. However, these interests are excluded from income (loss) from operations as computed in accordance with U.S. GAAP and should be deducted to compute income from operations as reflected in the Company’s consolidated statements of operations.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	6 Months Ended
	Jun. 30, 2015
Variable Interest Entity [Line Items]
Variable Interest Entities Disclosure	NOTE 19 - 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. Consolidated VIE-RSO 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 and determined that its benefits could be significant to RSO. Accordingly, management concluded that the Company is the primary beneficiary and should consolidate RSO. However, 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, nor do creditors of the Company have recourse against the assets of RSO. The following reflects the assets and liabilities and operations of RSO which were consolidated by the Company: RSO Balance Sheets Detail (in thousands): June 30, December 31, 2014 ASSETS (1) Cash and cash equivalents $ 145,010 $ 79,905 Restricted cash 45,755 122,138 Subtotal - Cash and cash equivalents 190,765 202,043 Investment securities, trading 32,680 20,786 Investment securities available-for-sale, pledged as collateral, at fair value 170,935 197,800 Investment securities available-for-sale, at fair value 82,493 77,920 Subtotal - Investments, at fair value 286,108 296,506 Loans, pledged as collateral and net of allowances of $46.3 million and $4.6 million 2,042,885 1,925,980 Loans receivable–related party — 558 Loans held for sale 111,122 113,675 Subtotal - Loans, before eliminations 2,154,007 2,040,213 Eliminations — (558 ) Subtotal - Loans 2,154,007 2,039,655 Property held for sale 180 180 Investments in unconsolidated entities 56,150 59,827 Subtotal, Investments in real estate and unconsolidated entities 56,330 60,007 Line items included in "other assets": Linked transactions, net at fair value — 15,367 Derivatives, at fair value 4,289 5,304 Interest receivable 12,046 16,260 Deferred tax asset 12,828 12,634 Principal paydown receivable 11,525 40,920 Direct financing leases 1,590 2,109 Intangible assets 24,370 18,610 Prepaid expenses 3,913 4,196 Other assets 16,453 14,510 Subtotal - Other assets, before eliminations 87,014 129,910 Eliminations — (109 ) Subtotal - Other assets 87,014 129,801 Total assets (excluding eliminations) $ 2,774,224 $ 2,728,679 Total assets (including eliminations) $ 2,774,224 $ 2,728,012 LIABILITIES (2) Borrowings $ 1,827,461 $ 1,716,871 Eliminations 332 205 Subtotal Borrowings 1,827,793 1,717,076 Distribution payable 25,504 30,592 Accrued interest expense 5,467 2,123 Derivatives, at fair value 6,991 8,476 Accrued tax liability 6,383 9,219 Accounts payable and other liabilities 9,769 9,287 Subtotal - Other liabilities, before eliminations 54,114 59,697 Eliminations (2,474 ) (2,446 ) Subtotal - Other liabilities 51,640 57,251 Total liabilities (before eliminations) $ 1,881,575 $ 1,776,568 Total liabilities (after eliminations) $ 1,879,433 $ 1,774,327 RSO Balance Sheets Detail (in thousands): June 30, December 31, (1) Assets of consolidated Variable Interest Entities ("VIE") included in total assets above: Cash and cash equivalents $ 189 $ 25 Restricted cash 43,954 121,247 Investments securities available-for-sale, pledged as collateral, at fair value 84,858 119,203 Loans held for sale 6,027 282 Loans, pledged as collateral and net of allowances of $42.7 million 1,352,546 1,261,137 Interest receivable 5,468 8,941 Prepaid expenses 182 221 Principal paydown receivable — 25,767 Other assets 9 (12 ) Total assets of consolidated RSO VIEs $ 1,493,233 $ 1,536,811 (2) Liabilities of consolidated VIEs included in total liabilities above : Borrowings $ 1,047,172 $ 1,046,494 Accrued interest expense 852 1,000 Derivatives, at fair value 5,946 8,439 Unsettled loan purchases (529 ) (529 ) Accounts payable and other liabilities 190 (386 ) Total liabilities of consolidated RSO VIEs $ 1,053,631 $ 1,055,018 RSO Operations Statement Detail (in thousands): For the Three Months Ended For the Six Months Ended June 30, June 30, 2015 2014 2015 2014 REVENUES Interest income: Loans $ 29,759 $ 26,219 $ 62,422 $ 46,448 Securities 5,500 3,391 9,552 7,395 Leases 163 — 258 — Interest income − other 1,119 982 1,951 3,834 Total interest income 36,541 30,592 74,183 57,677 Interest expense 15,803 10,610 30,705 20,238 Net interest income 20,738 19,982 43,478 37,439 Rental income — 1,507 — 6,659 Dividend income 17 17 33 153 Fee income 3,446 2,322 5,051 4,822 Revenues from consolidated VIE-RSO 24,201 23,828 48,562 49,073 OPERATING EXPENSES Management fees − related party 3,500 3,314 7,060 6,394 Equity compensation − related party 791 2,032 1,786 3,699 Rental operating expense — 1,077 6 4,473 Lease operating 24 — 47 — General and administrative - Corporate 4,067 4,750 8,850 7,589 General and administrative - PCM 6,722 4,138 13,801 7,565 Depreciation and amortization 621 760 1,186 1,596 Impairment losses — — 59 — Provision (recovery) for loan losses 38,810 782 42,800 (3,178 ) Total operating expenses 54,535 16,853 75,595 28,138 Reclassification of income tax expense — — — — Expenses of consolidated VIE-RSO 54,535 16,853 75,595 28,138 Adjusted operating income (30,334 ) 6,975 (27,033 ) 20,935 OTHER INCOME (EXPENSE) Equity in earnings of unconsolidated subsidiaries 662 1,762 1,368 3,776 Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives 9,745 1,648 24,168 3,736 Net realized and unrealized gains (loss) on investment securities, trading 279 (650 ) 2,353 (2,210 ) Unrealized gain (loss) and net interest income on linked transactions, net — 5,012 235 7,317 (Loss) on reissuance/ gain on extinguishment of debt (171 ) (533 ) (1,071 ) (602 ) (Loss) gain on sale of real estate 22 3,042 — 3,042 Other income (expense) — — — (1,262 ) Other income, net, from consolidated VIE - RSO 10,537 10,281 27,053 13,797 Income from continuing operations (19,797 ) 17,256 20 34,732 Income tax (expense) benefit - RSO (2,918 ) 446 (4,765 ) 430 NET INCOME (LOSS) (22,715 ) 17,702 (4,745 ) 35,162 Net (loss) income allocated to preferred shares (6,116 ) (3,358 ) (12,207 ) (5,758 ) Net (income) loss allocable to non-controlling interest, net of taxes (2,180 ) 333 (4,657 ) 389 NET INCOME (LOSS) ALLOCABLE TO RSO COMMON SHAREHOLDERS $ (31,011 ) $ 14,677 $ (21,609 ) $ 29,793 RSO Cash Flow Detail (in thousands) For the Six Months Ended June 30, 2015 2014 CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (4,745 ) $ 35,162 Items included in "Change in cash attributable to consolidated VIE-RSO": Provision (recovery of) for loan losses 42,800 (3,178 ) Depreciation of investments in real estate and other 5,572 1,922 Amortization of stock-based compensation 1,786 3,699 Amortization of (accretion) of terminated derivative instruments 134 142 Accretion (amortization) of interest-only available-for-sales securities 1,868 (339 ) Deferred income tax (benefit) expense (194 ) (689 ) Sale (purchase) of residential mortgage loans held for sale, net 15,229 (12,162 ) Capitalization of residential mortgage servicing rights (7,848 ) — Sale (purchase) of securities, trading, net (9,541 ) 429 Net realized and unrealized loss (gain) on investment securities, trading (2,353 ) 2,210 Net realized (gain) loss on sales of investment securities available-for-sale and loans (24,168 ) (2,148 ) Loss (gain) on reissuance (extinguishment) of debt 1,071 602 Loss (gain) on sales of real estate — (3,042 ) Settlement of derivative instruments 12,405 442 Net impairment losses recognized in earnings 59 — Linked transactions fair value adjustments (235 ) (5,923 ) Equity in net (earnings) losses of unconsolidated subsidiaries (1,368 ) (3,776 ) Changes in operating assets and liabilities, net of acquisitions 12,376 979 Net cash provided by (used in) operating activities 47,593 (20,832 ) Change in consolidated VIE-RSO cash for the period (65,105 ) 95,584 Subtotal - Change in cash attributable to consolidated VIE-RSO before eliminations (17,512 ) 74,752 Elimination of intercompany activity (29 ) (28 ) Subtotal - Adjustments to reconcile net income (loss) and operating cash flows to net income (loss) of consolidated VIE-RSO (17,541 ) 74,724 Net cash provided by (used in ) operating activities of consolidated VIE-RSO (excluding eliminations) 42,848 14,330 Six Months Ended June 30, 2015 2014 CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of loans (436,440 ) (489,800 ) Purchase of securities available-for-sale (11,320 ) (107,339 ) Subtotal - Purchase of loans and securities by consolidated VIE-RSO, before eliminations (447,760 ) (597,139 ) Principal payments received on loans 209,744 196,973 Proceeds from sale of loans 93,146 44,024 Principal payments on securities available-for-sale 49,819 25,774 Proceeds from sale of securities available-for-sale 37,221 99,151 Principal payments received on loans - related parties 558 1,759 Investment in loans - related parties — (244 ) Subtotal - principal payments and proceeds from sales received by consolidated VIE-RSO, before eliminations 390,488 367,437 (Increase) decrease in restricted cash 57,089 10,543 Items included in "Other investing activity of consolidated VIE-RSO": Return of capital from (investment in) unconsolidated entity 5,000 8,911 Acquisition of controlling interest in Moselle CLO S.A. — (30,433 ) Proceeds from sale of real estate held-for-sale 44 31,202 Improvements of investments in real estate — 252 Purchase of furniture and fixtures (10 ) (69 ) Acquisition of property and equipment (228 ) (332 ) Subtotal - Other investing activity of consolidated VIE-RSO, before eliminations 4,806 9,531 Eliminations (821 ) (391 ) Subtotal - Other investing activity of consolidated VIE-RSO 3,985 9,140 Net cash used in investing activities of consolidated VIE-RSO (excluding eliminations) 4,623 (209,628 ) Six Months Ended June 30, 2015 2014 CASH FLOWS FROM FINANCING ACTIVITIES: Items included in "Net borrowings (repayments) of debt by consolidated VIE-RSO" Proceeds from borrowings: Repurchase agreements, net of repayments — 142,019 Senior secured revolving credit facility 99,500 — Securitizations 282,127 43,000 Convertible senior notes 99,000 16,502 Reissuance of debt 12,229 — Payments on borrowings: Securitization (290,190 ) (152,556 ) Senior secured revolving credit facility (62,000 ) — Repurchase agreements, net of borrowings (56,383 ) — Subtotal - net borrowings of debt by consolidated VIE-RSO 84,283 48,965 Distributions paid on common stock (48,006 ) (51,457 ) Elimination of dividends paid to RAI 936 572 Distributions paid on common stock of consolidated VIE-RSO, after eliminations (47,070 ) (50,885 ) Net proceeds from issuances of common stock and dividend reinvestment and stock purchase plan, net of offering costs 129 14,554 Proceeds from issuance of preferred shares, net of offering costs 3,035 148,765 Repurchase of common stock (5 ) — Subtotal - net proceeds from issuance of stock by consolidated VIE-RSO 3,159 163,319 Payment of debt issuance costs (7,986 ) (8 ) Distributions paid to non-controlling interests (3,814 ) — Proceeds received from non-controlling interests 2,676 — Payment of equity to third party sub-note holders (519 ) (799 ) Distributions paid on preferred stock (12,159 ) (4,679 ) Subtotal - Other consolidated financing activity of consolidated VIE-RSO, before eliminations (21,802 ) (5,486 ) Eliminations 100 — Subtotal - Other consolidated financing activity of consolidated VIE-RSO (21,702 ) (5,486 ) Net cash provided by financing activities of consolidated VIE-RSO, excluding eliminations 17,634 155,341 Net increase (decrease) in cash and cash equivalents 65,105 (39,957 ) Cash and cash equivalents, beginning of year of consolidated VIE-RSO 79,905 262,270 Cash and cash equivalents, end of period of consolidated VIE-RSO $ 145,010 $ 222,313 Supplemental disclosures: Interest expense paid in cash $ 21,402 $ 17,438 Income taxes paid in cash $ 9,182 $ 3,249 Summary of Significant Accounting Policies - RSO Reclassifications Certain reclassifications have been made to RSO's 2014 consolidated financial statements to conform to the 2015 presentation. 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 securitizations in order to determine if they are variable interests in VIEs. RSO monitors these legal interests and, to the extent it has determined that it has a variable interest, analyzes the entity for potential consolidation. A VIE is required to be consolidated by its primary beneficiary. RSO continuously analyzes entities in which it holds variable interests, including when there is a reconsideration event, to determine whether such entities are VIEs and whether such potential VIEs should be consolidated or deconsolidated. This analysis requires considerable judgment in determining the primary beneficiary of a VIE and could result in the consolidation of an entity that would otherwise not have been consolidated or the non-consolidation of an entity that otherwise would have been consolidated. Consolidated VIEs (RSO is the primary beneficiary) Based on RSO management’s analysis, RSO is the primary beneficiary of twelve VIEs at June 30, 2015 : Apidos CDO I, Apidos CDO III, Apidos Cinco CDO, Apidos CLO VIII, RREF CDO 2006-1, RREF CDO 2007-1, Whitney CLO I, RCC CRE Notes 2013, RCC 2014-CRE2, RCC 2015-CRE3, Moselle CLO and RCM Global, LLC. In performing the primary beneficiary analysis for Apidos CDO I, Apidos CDO III, Apidos Cinco CDO, Apidos CLO VIII, RREF CDO 2006-1, RREF CDO 2007-1, RCC CRE Notes 2013, RCC 2014-CRE2, RCC 2015-CRE3 and RCM Global, LLC, it was determined that the parties that have the power to direct the activities that are most significant to each of these VIEs and who have the right to receive benefits and the obligation to absorb losses that could potentially be significant to these VIEs, are a related-party group. It was then determined that RSO was the party within that group that is more closely associated with each such VIE considering the design of the VIE, the principal-agency relationship between RSO and other members of the related-party group, and the relationship and significance of the activities of the VIE to RSO compared to the other members of the related-party group. Apidos CDO I, Apidos CDO III, Apidos Cinco CDO, Apidos CLO VIII, RREF CDO 2006-1, RREF CDO 2007-1, RCC CRE Notes 2013, RCC 2014-CRE2 and RCC 2015-CRE3 were formed on behalf of RSO to invest in real estate-related securities, CMBS, property available-for-sale, bank loans, corporate bonds and asset-backed securities and were financed by the issuance of debt securities. The Company manages the commercial real estate-related entities on behalf of RSO and CVC Credit Partners manages the commercial finance-related these entities on behalf of RSO. By financing these assets with long-term borrowings through the issuance of 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 and is continually assessed. Moselle CLO was a European securitization in which RSO purchased a $30.4 million interest in the form of subordinate notes representing 100% of the Class 1 Subordinated Notes and 67.9% of the Class 2 subordinated Notes in February 2014. The CLO was managed by an independent third-party and such collateral management activities were determined to be the activities that most significantly impacted the economic performance of the CLO. Though neither RSO nor one of its related parties managed the CLO, due to certain unilateral kick-out rights within the collateral management agreement it was determined that RSO had the power to direct the activities that most significantly impact the economic performance of Moselle CLO. Having both the power to direct the activities that most significantly impacted Moselle CLO and a financial interest that was expected to absorb both positive and negative variability in the CLO that could potentially be significant, RSO was determined to be the primary beneficiary of Moselle CLO and, therefore, consolidated the CLO. During the fourth quarter of 2014, the CLO began the liquidation process and all assets were subsequently sold. Whitney CLO I was a securitization in which RSO acquired rights to manage the collateral assets held by the entity in February 2011. For a discussion on the primary beneficiary analysis for Whitney, see “- Unconsolidated VIEs - Resource Capital Asset Management,” below. On July 9, 2014, RCC Residential, together with RSO and certain Resource America employees, acquired through RCM Global a portfolio of securities from JP Morgan for $23.5 million . The portfolio, is managed by RSO. RCC Residential contributed $15.0 million for a 63.8% membership interest. E ach of the members of RCM Global is allocated revenue and expenses of RCM Global in accordance with his or her membership interest. RCM Global was determined to be a VIE based on the equity holders' inability to direct the activities that are most significant to the entity. RSO was determined to be the primary beneficiary of RCM Global and, therefore, consolidated the entity. RSO's ownership interest of the portfolio's remaining assets was 45.9% as of June 30, 2015 . For consolidated 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 RSO's consolidated statements of operations. RSO has exposure to losses on its securitizations 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 securitizations, distributions with respect to its preferred equity interests. As a result of consolidation, debt and equity interests RSO holds in these securitizations have been eliminated, and RSO’s consolidated balance sheets reflects both the assets held and debt issued by the securitizations to third parties and any accrued expense to third parties. RSO's operating results and cash flows include the gross amounts related to the securitizations' assets and liabilities as opposed to RSO's net economic interests in the securitizations. Assets and liabilities related to the securitizations are disclosed, in the aggregate, on RSO's consolidated balance sheets. The creditors of RSO’s twelve consolidated VIEs have no recourse to the general credit of RSO. However, RSO 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 future cash flows from the CDO. For the three and six months ended June 30, 2015 and 2014 , RSO has provided no financial support. For the three and six months ended June 30, 2014 , RSO provided financial support of $10,000 and $549,000 , respectively. RSO has provided no other financial support to any other of its VIEs nor does RSO 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 that obligate RSO to provide financial support to any of its consolidated VIEs. The following table shows the classification and carrying value of assets and liabilities of RSO's consolidated VIEs as of June 30, 2015 (in thousands): Apidos I Apidos Apidos Whitney CLO I RREF RREF RCC CRE Notes 2013 RCC 2014-CRE2 RCC 2015-CRE3 Moselle RCM Global, LLC Total ASSETS (1) Cash and cash equivalents $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 189 $ 189 Restricted cash (1) 347 3,613 37,231 116 20 250 1,815 — 5 557 — 43,954 Investment securities available-for-sale, pledged as collateral, at fair value — — 10,268 — 5,854 56,448 — — — — 12,288 84,858 Loans, pledged as collateral — — 180,758 — 94,504 190,911 192,480 351,301 342,592 — — 1,352,546 Loans held for sale 153 1,358 4,516 — — — — — — — — 6,027 Interest receivable — — 734 — 374 1,302 792 1,324 1,240 — (298 ) 5,468 Prepaid assets — 10 24 — 15 95 28 10 — — — 182 Principal paydown receivable — — — — — — — — — — — — Other assets — — — — — — — 9 — — — 9 Total assets (2) $ 500 $ 4,981 $ 233,531 $ 116 $ 100,767 $ 249,006 $ 195,115 $ 352,644 $ 343,837 $ 557 $ 12,179 $ 1,493,233 LIABILITIES Borrowings $ — $ — $ 208,893 $ — $ 57,205 $ 125,055 $ 145,786 $ 231,846 $ 278,228 $ 159 $ — $ 1,047,172 Accrued interest expense — — 253 — 33 97 132 125 212 — — 852 Derivatives, at fair value — — — — 346 5,600 — — — — — 5,946 Unsettled loan purchases — — — — — — — — — — (529 ) (529 ) Accounts payable and other liabilities — 3 14 — 9 1 — — — 161 2 190 Total liabilities $ — $ 3 $ 209,160 $ — $ 57,593 $ 130,753 $ 145,918 $ 231,971 $ 278,440 $ 320 $ (527 ) $ 1,053,631 (1) Includes $2.1 million designated to fund future commitments on specific commercial real estate loans in certain of the securitizations. (2) Assets of each of the consolidated VIEs may only be used to settle the obligations of each respective VIE. (3) In October 2013, RSO liquidated Apidos CLO VIII and all of the assets were sold. However, RSO still owns its share of beneficial interests that caused it to consolidate it. Unconsolidated VIEs (RSO is not the primary beneficiary, but has a variable interest) Based on RSO management’s analysis, 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 financial statements as of June 30, 2015 . RSO’s maximum exposure to risk for each of these unconsolidated VIEs is set forth in the “Maximum Exposure to Loss,” column in the table below. LEAF Commercial Capital, Inc. On November 16, 2011, RSO and LEAF Financial, Inc. ("LEAF Financial"), a subsidiary of the Company, and LEAF Commercial Capital, Inc. ("LCC") entered into a stock purchase agreement and related agreements (collectively the “SPA”) with Eos Partners, L.P., a private investment firm, and its affiliates (“Eos”). In exchange for its prior interests in its lease related investments, 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 LCC. At the time of investment, RSO's investment in LCC was valued at $36.3 million based on a third-party valuation at that time. During 2013, RSO entered into a third stock purchase agreement with LCC to purchase 3,682 shares of newly issued Series A-1 Preferred Stock (the "Series A-1 Preferred Stock") for $3.7 million and 4,445 shares of newly issued Series E Preferred Stock (the "Series E Preferred Stock") for $4.4 million . The Series E Preferred Stock has priority over all other classes of preferred stock. RSO's fully-diluted interest in LCC, assuming conversion, was 28.4% at June 30, 2015 . RSO's investment in LCC was recorded at $39.8 million and $39.4 million as of June 30, 2015 and December 31, 2014 , respectively. RSO determined that it is not the primary beneficiary of LCC because it does not participate in any management or portfolio decisions, holds only two of six board positions, and only controls 28.4% of the voting rights in the entity. Furthermore, Eos holds consent rights with respect to significant LCC actions, including the 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 consolidated financial statements. RSO records its investments in RCT I's 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 bank loan assets through five CLOs. As a result, RSO became entitled to collect senior, subordinated and incentive management fees from these CLOs. The purchase price of $22.5 million resulted in an intangible asset that was allocated to each of the five CLOs and is amortized over the expected life of each CLO. The unamortized balance of the intangible asset was $8.5 million and $9.4 million at June 30, 2015 and December 31, 2014 , respectively. RSO recognized fee income of $896,000 and $1.9 million for the for the three and six months ended June 30, 2015 , respectively, and $1.1 million and $2.8 million for the three and six months ended June 30, 2014 , respectively. With respect to four of these CLOs, RSO determined that it does not hold a controlling financial interest and, therefore, is not the primary beneficiary. One of the CLOs was liquidated in February 2013. With respect to the fifth CLO, Whitney CLO I, in October 2012, RSO purchased 66.6% of its preferred equity, which resulted in consolidation. Based upon that purchase, RSO determined that it had an obligation to absorb losses and/or the right to receive benefits that could potentially be significant to Whitney CLO I and that a related party had the power to direct the activities that are most significant to the VIE. As a result, together with the related party, RSO had 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 was 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, all of the assets were sold. Investment in ZAIS In February 2015, RSO made an investment in ZAIS CLO 4 Limited, an offshore financing vehicle created to acquire and warehouse syndicated bank loans, through its wholly-owned, indirect subsidiary ZAIS and through its consolidated subsidiary Pelium Capital together with a certain Resource America employee. RSO, through ZAIS and Pelium Capital, committed to invest $10.0 million and $3.0 million , respectively, during the vehicles warehousing period. The vehicle is managed by ZAIS Leveraged Loan Manager 4, LLC (the “Collateral Manager”), an unrelated entity to RSO or to Pelium Capital, and such collateral management activities were determined to be the activities that most significantly impacted the economic performance of the entity. The Collateral Manager can be replaced either by cause by the entity’s administrative agent in an event of default or by a unanimous vote of the entity’s equity investors, excluding any preference shares held by the collateral managers or its affiliates. Although RSO has an investment in the entity that is potentially significant, because it was determined that RSO did not have the ability to kick out the collateral manager, RSO was not determined to be the primary beneficiary and, hence, not required to consolidate ZAIS CLO 4, Limited. As of June 30, 2015 , RSO had invested $8.3 million and $1.8 million through ZAIS and Pelium Capital, respectively. The following table shows the classification, carrying value and maximum exposure to loss with respect to RSO’s unconsolidated VIEs as of June 30, 2015 (in thousands): Unconsolidated Variable Interest Entities LCC Unsecured Junior Subordinated Debentures Resource Capital Asset Management CDOs Investment in ZAIS Total Maximum Exposure to Loss Investment in unconsolidated entities $ 39,818 $ 1,548 $ — $ 10,228 $ 51,594 51,594 Intangible assets — — 8,542 — 8,542 8,542 Total assets 39,818 1,548 8,542 10,228 60,136 Borrowings — 51,308 — — 51,308 N/A Total liabilities — 51,308 — — 51,308 N/A Net asset (liability) $ 39,818 $ (49,760 ) 8,542 $ 10,228 $ 8,828 N/A As of June 30, 2015 , there were no explicit arrangements or implicit variable interests that could require RSO to provide financial support to any of its unconsolidated VIEs. Supplemental cash flow information - RSO Supplemental disclosure of cash flow information is summarized for the periods indicated (in thousands): For the Six Months Ended June 30, 2015 2014 Non-cash investing activities include the following: Conversion of linked transactions assets to CMBS (1) $ 48,605 $ — Non-cash financing activities include the following: Distributions on common stock declared but not paid $ 21,426 $ 26,179 Distributions on preferred stock declared but not paid $ 4,078 $ 4,353 Issuance of restricted stock $ 1,158 $ 646 Conversion of linked transaction liabilities to repurchase agreement borrowings (1) $ 33,377 $ — (1) As a result of an accounting standards update adopted on January 1, 2015, RSO unlinked their previously linked transactions, resulting in non-cash increases in both their CMBS and related repurchase borrowings balances. Investment securities, trading - RSO The following table summarizes RSO's structured notes and RMBS that are classified as investment securities, trading and carried at fair value (in thousands). Structured notes are CLO debt securities collateralized by syndicated bank loans, and RMBS is a type of mortgage-backed debt obligation whose cash flows come from residential debt. Amortized Cost Unrealized Gains Unrealized Losses Fair Value As of June 30, 2015: Structured notes $ 32,519 $ 3,027 $ (2,866 ) $ 32,680 RMBS 1,896 — (1,896 ) —

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 20 - SUBSEQUENT EVENTS The Company has evaluated subsequent events through the filing of this form and determined that there have not been any events that have occurred that would require adjustments to or disclosures in the consolidated financial statements, except the following: On August 3, 2015, RSO's board of directors approved a one-for-four reverse stock split which is expected to be effective on August 31, 2015, after the close of business. On August 3, 2015, RSO's board of directors also authorized RSO to repurchase up to $50.0 million of RSO outstanding equity and debt securities.

SUMMARY OF SIGNIFICANT ACCOUN29

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2015
Variable Interest Entity [Line Items]
Reclassification, Policy	Reclassifications Certain reclassifications have been made to the 2014 consolidated financial statements to conform to the 2015 presentation.
Principles of Consolidation	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 follows the provisions of Accounting Standards Codification (“ASC”) Topic 810, Consolidation , and accordingly consolidates entities that are variable interest entities (“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 losses of the VIE that could potentially be significant to the VIE or the right to receive benefits of the VIE that could potentially be significant to the VIE. If the Company's interest possesses both of these characteristics, the Company is deemed to be the primary beneficiary and would be required to consolidate the VIE. The Company continually assesses its involvement with VIEs and re-evaluates 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. All intercompany transactions and balances have been eliminated in the Company's consolidated financial statements.
Use of Estimates	Use of Estimates Preparation of the Company's consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and costs and expenses during the reporting period. The Company makes estimates of its allowance for credit losses, the valuation allowance against its deferred tax assets, discounts and collectability of management fees, the valuation of stock-based compensation, and in determining whether a decrease in the fair value of an investment is an other-than-temporary impairment. The real estate and financial fund management segments make assumptions in determining the fair value of investments in investment securities. Actual results could differ from these estimates.
Financing Receivables - Receivables from Managed Entities	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 estimates of future bad debts and recoveries. For receivables from the real estate investment entities, the Company estimates the cash flows through the sale of the underlying properties based on projected net operating income as a multiple of published capitalization rates, as reduced by the underlying mortgage balances and priority distributions due to the investors.
Investment Securities	Investment Securities The Company’s investment securities available-for-sale, including investments in the CLO issuers it sponsored, are carried at fair value. The fair value of the CLO investments is based primarily on internally-generated expected cash flow models that require significant management judgment and estimates due to the lack of market activity and the use of unobservable pricing inputs. The Company's investments in the common stock of The Bancorp, Inc. (NASDAQ: TBBK), Resource Credit Income Fund ("CIF") (NASDAQ: RCIIX), and Resource Real Estate Diversified Income Fund ("DIF") (NASDAQ: RREDX), all of which are affiliated entities, are valued at the closing prices of the respective publicly-traded stocks. The Company's investment in Resource Real Estate Global Property Securities ("RREGPS"), a Company-sponsored and managed Australian investment fund which is structured as a unit trust, has been valued at net asset value. In July 2015, the Company redeemed its interest in RREGPS and terminated its management agreement. The cumulative net unrealized gains (losses) on these investment securities, net of tax, is reported through accumulated other comprehensive income (loss). Realized gains (and losses) on the sale of investments are determined on the trade date on the basis of specific identification and are included in net operating results. Securities that are held principally for resale in the near term are recorded as trading securities at fair value with changes in fair value recorded in earnings.
Recent Accounting Standards	Recent Accounting Standards Newly-Adopted Accounting Principle The Company’s adoption of the following standard during the six months ended June 30, 2015 did not have a material impact on its consolidated financial position, results of operations or cash flows: In April 2014, the Financial Accounting Standards Board ("FASB") issued authoritative guidance to change the criteria for reporting discontinued operations. Under the new guidance, only disposals representing a strategic shift in a company's operations and financial results should be reported as discontinued operations, with expanded disclosures. In addition, disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify as a discontinued operation is required. This guidance was effective for the Company as of January 1, 2015. Accounting Standards Issued But Not Yet Effective In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers, which will replace most of the existing revenue recognition guidance in GAAP. The core principle of the ASU is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The ASU requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. The ASU will be effective for the Company beginning January 1, 2018, including interim periods in 2018, and allows for both retrospective and prospective methods of adoption. The Company is in the process of determining the method of adoption and assessing the impact of this ASU on its consolidated financial statements. In June 2014, the FASB issued ASU No. 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target Could be Achieved after the Requisite Service Period . ASU 2014-12 requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The guidance is effective for the Company beginning January 1, 2016. The Company is currently evaluating the impact of the new guidance on its financial statements and has not yet selected a transition approach to implement the standard. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern . Under the new guidance, an entity should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. The guidance is effective for the Company beginning January 1, 2017. Early application is permitted. The adoption of the new requirements is not expected to have a material impact on the Company's consolidated balance sheet, statement of operations, or statement of cash flows. In January 2015, the FASB issued ASU No. 2015-01, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items , which eliminates from GAAP the concept of an extraordinary item. As a result, an entity will no longer be required to segregate extraordinary items from the results of ordinary operations, to separately present an extraordinary item on its income statement, net of tax, after income from continuing operations or to disclose income taxes and earnings per share data applicable to an extraordinary item. However, presentation and disclosure guidance for items that are unusual in nature and occur infrequently will be retained. Adoption of this ASU will be required on a prospective or retrospective basis beginning with the quarter ending March 31, 2016 and is not expected to have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, Consolidation—Amendments to the Consolidation Analysis (Topic 810) . The guidance requires an entity to evaluate whether it should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments: (1) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIEs") or voting interest entities; (2) eliminate the presumption that a general partner should consolidate a limited partnership; (3) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and (4) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. This guidance is effective for the Company beginning January 1, 2016. Early application is permitted. The Company is currently evaluating the potential impact of this standard on its consolidated financial statements, as well as the available transition methods. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . The update requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. The update requires retrospective application and represents a change in accounting principle. The update is effective for the Company beginning January 1, 2016. Early adoption is permitted for financial statements that have not been previously issued. ASU 2015-03 is not expected to have a material impact on the Company’s consolidated financial statements.
RSO [Member]
Variable Interest Entity [Line Items]
Reclassification, Policy	Reclassifications Certain reclassifications have been made to RSO's 2014 consolidated financial statements to conform to the 2015 presentation.

CONSOLIDATING FINANCIAL INFOR30

CONSOLIDATING FINANCIAL INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidating balance sheet	The following table presents the consolidating balance sheet as of June 30, 2015 (in thousands): RAI RSO Eliminations Consolidated ASSETS Cash $ 23,760 $ — $ — $ 23,760 Restricted cash 886 — — 886 Receivables 1,181 — (120 ) 1,061 Receivables from managed entities and related parties, net 28,874 — (2,354 ) 26,520 Investments in real estate, net 17,040 — — 17,040 Investment securities, at fair value 21,944 — (11,074 ) 10,870 Investments in unconsolidated loan manager 36,526 — — 36,526 Investments in unconsolidated entities 24,883 — (7,999 ) 16,884 Assets of consolidated VIE-RSO: Cash and cash equivalents (including restricted cash) — 190,765 — 190,765 Investments, at fair value — 286,108 — 286,108 Loans — 2,154,007 — 2,154,007 Investments in real estate and unconsolidated entities — 56,330 — 56,330 Other assets-RSO — 87,014 — 87,014 Total assets of consolidated VIE-RSO — 2,774,224 — 2,774,224 Property and equipment, net 5,622 — — 5,622 Deferred tax assets, net 31,954 — (11,034 ) 20,920 Other assets 8,392 — — 8,392 Total assets $ 201,062 $ 2,774,224 $ (32,581 ) $ 2,942,705 LIABILITIES AND EQUITY Liabilities: Accrued expenses and other liabilities $ 21,241 $ — $ — $ 21,241 Payables to managed entities and related parties 4,748 — — 4,748 Borrowings 21,029 — — 21,029 Liabilities of consolidated VIE-RSO: Borrowings — 1,827,461 332 1,827,793 Other liabilities — 54,114 (2,474 ) 51,640 Total liabilities of consolidated VIE-RSO — 1,881,575 (2,142 ) 1,879,433 Total liabilities 47,018 1,881,575 (2,142 ) 1,926,451 Commitments and contingencies Equity: Preferred stock — — — — Common stock 338 — — 338 Additional paid-in capital 309,736 — — 309,736 Accumulated deficit (18,369 ) — (9,274 ) (27,643 ) Treasury stock, at cost (124,736 ) — — (124,736 ) Accumulated other comprehensive loss (13,301 ) — 12,386 (915 ) Total stockholders’ equity 153,668 — 3,112 156,780 Noncontrolling interests 376 — — 376 Noncontrolling interests attributable to consolidated VIE-RSO — 892,649 (33,551 ) 859,098 Total equity 154,044 892,649 (30,439 ) 1,016,254 Total liabilities and equity $ 201,062 $ 2,774,224 $ (32,581 ) $ 2,942,705
Consolidating statements of operations	The following table presents the consolidating statement of operations for the three months ended June 30, 2015 (in thousands): RAI RSO Eliminations Consolidated REVENUES: Real estate $ 21,116 $ — $ — $ 21,116 Financial fund management 4,781 — — 4,781 Commercial finance 2 — — 2 25,899 — — 25,899 Revenues from consolidated VIE-RSO — 24,201 — 24,201 Elimination of consolidated VIE-RSO revenues attributed to operating segments — — (4,104 ) (4,104 ) Total revenues 25,899 24,201 (4,104 ) 45,996 COSTS AND EXPENSES: Real estate 12,082 — — 12,082 Financial fund management 3,154 — — 3,154 Commercial finance 458 — — 458 General and administrative 4,181 — — 4,181 Provision for credit losses 276 — — 276 Depreciation and amortization 515 — — 515 20,666 — — 20,666 Expenses of consolidated VIE-RSO — 54,535 — 54,535 Elimination of consolidated VIE-RSO expenses attributed to operating segments — — (3,368 ) (3,368 ) Total expenses 20,666 54,535 (3,368 ) 71,833 OPERATING INCOME (LOSS) 5,233 (30,334 ) (736 ) (25,837 ) OTHER INCOME (EXPENSE): Impairment on investment in unconsolidated entities (4,346 ) — — (4,346 ) Interest expense (455 ) — — (455 ) Other income (expense), net 689 — (458 ) 231 Other income (expense), net, from consolidated VIE-RSO — 10,537 — 10,537 Elimination of consolidated VIE-RSO other income, net — — 4 4 Total other income (expense) (4,112 ) 10,537 (454 ) 5,971 Income (loss) from continuing operations before taxes 1,121 (19,797 ) (1,190 ) (19,866 ) Income tax provision (benefit) 857 2,918 — 3,775 Net income (loss) 264 (22,715 ) (1,190 ) (23,641 ) Net (income) loss attributable to noncontrolling interests (63 ) — — (63 ) Net (income) loss attributable to noncontrolling interests-RSO — (8,296 ) 30,348 22,052 Net income (loss) attributable to common shareholders $ 201 $ (31,011 ) $ 29,158 $ (1,652 ) The following table presents the consolidating statement of operations for the three months ended June 30, 2014 (in thousands): RAI RSO Eliminations Consolidated REVENUES: Real estate $ 13,448 $ — $ — $ 13,448 Financial fund management 8,141 — — 8,141 Commercial finance (42 ) — — (42 ) 21,547 — — 21,547 Revenues from consolidated VIE-RSO — 23,828 — 23,828 Elimination of consolidated VIE-RSO revenues attributed to operating segments — — (3,040 ) (3,040 ) Total revenues 21,547 23,828 (3,040 ) 42,335 COSTS AND EXPENSES: Real estate 9,105 — — 9,105 Financial fund management 2,779 — — 2,779 Commercial finance 123 — — 123 General and administrative 2,729 — — 2,729 Provision for credit losses 1,575 — — 1,575 Depreciation and amortization 465 — — 465 Total other income (expense) 16,776 — — 16,776 Expenses of consolidated VIE-RSO — 16,853 16,853 Elimination of consolidated VIE-RSO expenses attributed to operating segments — — (3,053 ) (3,053 ) Total expenses 16,776 16,853 (3,053 ) 30,576 OPERATING INCOME (LOSS) 4,771 6,975 13 11,759 OTHER INCOME (EXPENSE): Gain (loss) on sale of investment securities, net 370 — — 370 Interest expense (497 ) — — (497 ) Other income (expense), net 590 — (572 ) 18 Other income (expense), net, from consolidated VIE-RSO — 10,281 — 10,281 Elimination of consolidated VIE-RSO other income, net — — 11 11 463 10,281 (561 ) 10,183 Income (loss) from continuing operations before taxes 5,234 17,256 (548 ) 21,942 Income tax provision (benefit) 2,181 (446 ) — 1,735 Net income (loss) 3,053 17,702 (548 ) 20,207 Income (loss) from continuing operations before taxes (84 ) — — (84 ) Net (income) loss attributable to noncontrolling interests-RSO — (3,025 ) (14,380 ) (17,405 ) Net income (loss) attributable to common shareholders $ 2,969 $ 14,677 $ (14,928 ) $ 2,718 The following table presents the consolidating statement of operations for the six months ended June 30, 2015 (in thousands): RAI RSO Eliminations Consolidated REVENUES: Real estate $ 38,082 $ — $ — $ 38,082 Financial fund management 9,918 — — 9,918 Commercial finance — — — — 48,000 — — 48,000 Revenues from consolidated VIE-RSO — 48,562 — 48,562 Elimination of consolidated VIE-RSO revenues attributed to operating segments — — (8,377 ) (8,377 ) Total revenues 48,000 48,562 (8,377 ) 88,185 COSTS AND EXPENSES: Real estate 23,581 — — 23,581 Financial fund management 6,144 — — 6,144 Commercial finance 1,037 — — 1,037 General and administrative 7,478 — — 7,478 Provision for credit losses 678 — — 678 Depreciation and amortization 972 — — 972 Total other income (expense) 39,890 — — 39,890 Expenses of consolidated VIE-RSO — 75,595 — 75,595 Elimination of consolidated VIE-RSO expenses attributed to operating segments — — (6,736 ) (6,736 ) Total expenses 39,890 75,595 (6,736 ) 108,749 OPERATING INCOME (LOSS) 8,110 (27,033 ) (1,641 ) (20,564 ) OTHER INCOME (EXPENSE): Impairment on investment in unconsolidated entities (4,346 ) — — (4,346 ) Interest expense (876 ) — — (876 ) Other income (expense), net 1,003 — (936 ) 67 Other income (expense), net, from consolidated VIE-RSO — 27,053 — 27,053 Elimination of consolidated VIE-RSO other income, net — — 15 15 (4,219 ) 27,053 (921 ) 21,913 Income (loss) from continuing operations before taxes 3,891 20 (2,562 ) 1,349 Income tax provision (benefit) 2,101 4,765 — 6,866 Net income (loss) 1,790 (4,745 ) (2,562 ) (5,517 ) Net (income) loss attributable to noncontrolling interests (55 ) — — (55 ) Net (income) loss attributable to noncontrolling interests-RSO — (16,864 ) 21,121 4,257 Net income (loss) attributable to common shareholders $ 1,735 $ (21,609 ) $ 18,559 $ (1,315 ) The following table presents the consolidating statement of operations for the six months ended June 30, 2014 (in thousands): RAI RSO Eliminations Consolidated REVENUES: Real estate $ 26,723 $ — $ — $ 26,723 Financial fund management 15,216 — — 15,216 Commercial finance (141 ) — — (141 ) 41,798 — — 41,798 Revenues from consolidated VIE-RSO — 49,073 — 49,073 Elimination of consolidated VIE-RSO revenues attributed to operating segments — — (5,920 ) (5,920 ) Total revenues 41,798 49,073 (5,920 ) 84,951 COSTS AND EXPENSES: Real estate 17,980 — — 17,980 Financial fund management 7,168 — — 7,168 Commercial finance 226 — — 226 General and administrative 5,883 — — 5,883 Provision for credit losses 2,783 — — 2,783 Depreciation and amortization 916 — — 916 Total other income (expense) 34,956 — — 34,956 Expenses of consolidated VIE-RSO — 28,138 — 28,138 Elimination of consolidated VIE-RSO expenses attributed to operating segments — — (5,872 ) (5,872 ) Total expenses 34,956 28,138 (5,872 ) 57,222 OPERATING INCOME (LOSS) 6,842 20,935 (48 ) 27,729 OTHER INCOME (EXPENSE): Gain on sale of investment securities, net 370 — — 370 Interest expense (980 ) — — (980 ) Other income (expense), net 1,327 — (1,144 ) 183 Other income (expense), net, from consolidated VIE-RSO — 13,797 — 13,797 Elimination of consolidated VIE-RSO other income, net — — 29 29 717 13,797 (1,115 ) 13,399 Income (loss) from continuing operations before taxes 7,559 34,732 (1,163 ) 41,128 Income tax provision (benefit) 3,250 (430 ) — 2,820 Net income (loss) 4,309 35,162 (1,163 ) 38,308 Net (income) loss attributable to noncontrolling interests (44 ) — — (44 ) Net (income) loss attributable to noncontrolling interests-RSO — (5,369 ) (29,187 ) (34,556 ) Net income (loss) attributable to common shareholders $ 4,265 $ 29,793 $ (30,350 ) $ 3,708
Consolidating statements of cash flows	The following table presents the consolidating statement of cash flows for the six months ended June 30, 2015 (in thousands): RAI RSO Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 1,790 $ (4,745 ) $ (2,562 ) $ (5,517 ) Adjustments to reconcile net income (loss) to net cash Depreciation and amortization 1,004 — — 1,004 Provision for credit losses 678 — — 678 Unrealized gain (loss) on trading securities (42 ) — — (42 ) Equity in (earnings) losses of unconsolidated entities (6,296 ) — 1,555 (4,741 ) Distributions from unconsolidated entities 4,998 — — 4,998 Impairment on investment in unconsolidated entities 4,346 — — 4,346 (Gain) loss on sales of leases and loans (5 ) — — (5 ) Deferred income tax provision 2,052 — — 2,052 Equity-based compensation issued 1,604 — — 1,604 Foreign currency adjustments 284 — — 284 (Gain) loss on trading securities 15 — — 15 Trading securities purchases and sales, net 221 — — 221 Changes in operating assets and liabilities 153 — — 153 Adjustments to reconcile net income and operating cash flows to net income of consolidated VIE-RSO — (17,512 ) (29 ) (17,541 ) Net cash provided by (used in) operating activities 10,802 (22,257 ) (1,036 ) (12,491 ) CASH FLOWS FROM INVESTING ACTIVITIES: Capital expenditures (352 ) — — (352 ) Principal payments on leases and loans 5 — — 5 Investments in real estate and unconsolidated real estate entities (3,295 ) — — (3,295 ) Purchase of loans and securities by consolidated VIE-RSO — (447,760 ) — (447,760 ) Principal payments and proceeds from sales of loans and securities by consolidated VIE-RSO — 390,488 — 390,488 Purchase of loans and investments (2,687 ) — — (2,687 ) Decrease (increase) in restricted cash of consolidated VIE-RSO — 57,089 — 57,089 Other investing activity of consolidated VIE-RSO — 4,806 (821 ) 3,985 Net cash provided by (used) in investing activities (6,329 ) 4,623 (821 ) (2,527 ) RAI RSO Eliminations Consolidated CASH FLOWS FROM FINANCING ACTIVITIES: Principal payments on borrowings (821 ) — 821 — Net borrowings by consolidated VIE-RSO — 84,283 — 84,283 Dividends paid (2,622 ) — — (2,622 ) Dividends paid on common stock by consolidated VIE-RSO — (48,006 ) 936 (47,070 ) Proceeds from issuance of common stock 1 — — 1 Net proceeds from issuance of common stock by consolidated VIE-RSO — 3,159 — 3,159 Other financing activity of consolidated VIE - RSO — (21,802 ) 100 (21,702 ) Net cash (used in) provided by financing activities (8,255 ) 17,634 1,857 11,236 Decrease in cash (3,782 ) — — (3,782 ) Cash, beginning of year 27,542 — — 27,542 Cash, end of period $ 23,760 $ — $ — $ 23,760

SUPPLEMENTAL CASH FLOW INFORM31

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental disclosure of cash flow information for the Company is as follows (in thousands, per share data): Six Months Ended June 30, 2015 2014 Cash (paid) received: Interest $ (948 ) $ (828 ) Income tax payments (1,088 ) (916 ) Refund of income taxes 52 48 Dividends declared per common share $ 0.12 $ 0.10 Non-cash activities: Repurchase of common stock from employees in exchange for the payment of income taxes $ 173 $ 255 Purchase of equipment on capital leases 881 — Issuance of treasury stock for the Company's investment savings 401(k) plan 271 306

FINANCING RECEIVABLES (Tables)

FINANCING RECEIVABLES (Tables)	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Aging of the Company's Past Due Financing Receivables, Gross of Allowances for Credit Losses	The following table is the aging of the Company’s financing receivables (presented gross of allowance for credit losses) as of June 30, 2015 (in thousands): Current 30-89 Days Past Due 90-180 Days Past Due Greater than 181 Days Total Past Due Total Loans and receivables from managed entities and related parties: (1) Commercial finance investment entities $ 2 $ 341 $ 1,121 $ 18,347 $ 19,809 $ 19,811 Real estate investment entities 4,067 269 1,094 15,069 16,432 20,499 Financial fund management entities 1,092 47 30 — 77 1,169 Other 2,706 — — — — 2,706 7,867 657 2,245 33,416 36,318 44,185 Rent receivables - real estate 168 8 3 — 11 179 Total financing receivables $ 8,035 $ 665 $ 2,248 $ 33,416 $ 36,329 $ 44,364 (1) Receivables are presented gross of an allowance for credit losses of $17.4 million related to one of the Company’s commercial finance investment entities and $307,000 related to one of its real estate investment partnerships. 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 financing receivables (presented gross of allowance for credit losses) as of December 31, 2014 (in thousands): Current 30-89 Days Past Due 90-180 Days Past Due Greater than 181 Days Total Past Due Total Loans and receivables from managed entities and related parties: (1) Commercial finance investment entities $ 9 $ 342 $ 1,124 $ 18,398 $ 19,864 $ 19,873 Real estate investment entities 6,613 772 1,214 15,134 17,120 23,733 Financial fund management entities 583 74 — 6 80 663 Other 3,024 — — — — 3,024 10,229 1,188 2,338 33,538 37,064 47,293 Rent receivables - real estate 76 11 1 — 12 88 Total financing receivables $ 10,305 $ 1,199 $ 2,339 $ 33,538 $ 37,076 $ 47,381 (1) Receivables are presented gross of an allowance for credit losses of $17.0 million related to one of the Company’s commercial finance investment entities. The remaining receivables from managed entities and related parties have no related allowance for credit losses.
Summary of Activity in the Allowance for Credit Losses for the Company's Financing Receivables	The following table summarizes the activity in the allowance for credit losses for all financing receivables (in thousands): Receivables from Managed Entities Leases and Loans Rent Receivables Total Three Months Ended June 30, 2015: Balance, beginning of period $ 17,359 $ — $ 1 $ 17,360 Provision for (reversal) of credit losses 306 (31 ) 1 276 (Charge-offs) recoveries — 31 — 31 Balance, end of period $ 17,665 $ — $ 2 $ 17,667 Ending balance, individually evaluated for impairment $ 17,665 $ — $ 2 $ 17,667 Ending balance, collectively evaluated for impairment — — — — Balance, end of period $ 17,665 $ — $ 2 $ 17,667 Six Months Ended June 30, 2015: Balance, beginning of period $ 16,990 $ — $ — $ 16,990 Provision for (reversal) of credit losses 675 1 2 678 (Charge-offs) recoveries — (1 ) — (1 ) Balance, end of period $ 17,665 $ — $ 2 $ 17,667 Ending balance, individually evaluated for impairment $ 17,665 $ — $ 2 $ 17,667 Ending balance, collectively evaluated for impairment — — — — Balance, end of period $ 17,665 $ — $ 2 $ 17,667 Loans and receivables from Managed Entities Leases and Loans Rent Receivables Total Three Months Ended June 30, 2014: Balance, beginning of period $ 37,441 $ — $ 10 $ 37,451 Provision for credit losses 1,588 (5 ) (8 ) 1,575 Charge-offs (1 ) — — (1 ) Recoveries — 5 — 5 Balance, end of period $ 39,028 $ — $ 2 $ 39,030 Six Months Ended June 30, 2014: Balance, beginning of period $ 36,229 $ — $ 14 $ 36,243 Provision for credit losses 2,801 (6 ) (12 ) 2,783 Charge-offs (2 ) — — (2 ) Recoveries — 6 — 6 Balance, end of period $ 39,028 $ — $ 2 $ 39,030 Ending balance, individually evaluated for impairment $ 39,028 $ — $ — $ 39,028 Ending balance, collectively evaluated for impairment — — 2 2 Balance, end of period $ 39,028 $ — $ 2 $ 39,030
Gross Financing Receivables Related to the Balance in the Allowance for Credit Losses	The Company’s financing receivables (presented exclusive of any allowance for credit losses) relate to the balance in the allowance for credit losses, as follows (in thousands): As of June 30, 2015: Receivables from Rent Total Ending balance, individually evaluated for impairment $ 44,185 $ — $ 44,185 Ending balance, collectively evaluated for impairment — 179 179 Balance, end of period $ 44,185 $ 179 $ 44,364 As of December 31, 2014: Ending balance, individually evaluated for impairment $ 47,293 $ — $ 47,293 Ending balance, collectively evaluated for impairment — 88 88 Balance, end of year $ 47,293 $ 88 $ 47,381
Information about Company's Impaired Financing Receivables	The following table discloses information about the Company’s impaired financing receivables (in thousands): Net Balance Unpaid Balance Specific Allowance Average Investment in Impaired Assets As of June 30, 2015: Financing receivables with a specific valuation allowance: Loans and receivables from managed entities – commercial finance $ 1,044 $ 18,402 $ 17,358 $ 18,420 Loans and receivables from managed entities – real estate 540 $ 849 307 606 Rent receivables – real estate — — 2 — As of December 31, 2014: Financing receivables with a specific valuation allowance: Loans and receivables from managed entities – commercial finance $ 1,295 $ 18,285 $ 16,990 $ 18,882

INVESTMENTS IN REAL ESTATE (Tab

INVESTMENTS IN REAL ESTATE (Tables)	6 Months Ended
	Jun. 30, 2015
Real Estate Investments, Net [Abstract]
Summary of Carrying Value of Investments in Real Estate	The Company’s investments in real estate, net, consist of the following (in thousands): June 30, December 31, Properties owned, net of accumulated depreciation of $9,464 and $9,198: Hotel property (Savannah, Georgia) $ 10,041 $ 10,110 Office building (Philadelphia, Pennsylvania) 912 888 10,953 10,998 Partnerships and other investments 6,087 6,099 Total investments in real estate, net $ 17,040 $ 17,097
Schedule of Future Minimum Rental Payments for Operating Leases	The contractual future minimum rental income on non-cancelable operating leases included in properties owned for each of the five succeeding annual periods ending June 30, and thereafter, are as follows (in thousands): 2016 $ 968 2017 777 2018 719 2019 561 2020 310 Thereafter 311 Total $ 3,646

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Components of the Company's Investment Securities	Components of investment securities are as follows (in thousands): June 30, December 31, Available-for-sale securities $ 10,589 $ 9,065 Trading securities 281 475 Total investment securities, at fair value $ 10,870 $ 9,540
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 Amortized Cost Unrealized Gains Unrealized Losses Fair Value As of June 30, 2015: CLO securities $ 7,692 $ 1,718 $ (33 ) $ 9,377 Equity securities 1,103 110 (1 ) 1,212 Total $ 8,795 $ 1,828 $ (34 ) $ 10,589 As of December 31, 2014: CLO securities $ 6,962 $ 1,228 $ (176 ) $ 8,014 Equity securities 888 163 — 1,051 Total $ 7,850 $ 1,391 $ (176 ) $ 9,065
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 on available-for-sale securities, along with their related fair value, 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 Losses Number of Securities Fair Value Unrealized Losses Number of Securities June 30, 2015 CLO securities $ 979 $ (33 ) 2 $ — $ — — Equity securities 214 (1 ) 1 — — — Total $ 1,193 $ (34 ) 3 $ — $ — — December 31, 2014 CLO securities $ 2,643 $ (176 ) 4 $ — $ — — Equity securities — — — — — — Total $ 2,643 $ (176 ) 4 $ — $ — —

INVESTMENTS IN UNCONSOLIDATED35

INVESTMENTS IN UNCONSOLIDATED ENTITIES AND LOAN MANAGER (Tables)	6 Months Ended
	Jun. 30, 2015
Investments in Unconsolidated Entities [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 June 30, December 31, Real estate investment entities 1% – 12% $ 11,461 $ 8,313 Financial fund management partnerships 0.01% − 50% 4,802 4,162 Trapeza entities 33% − 50% 621 614 Investments in unconsolidated entities $ 16,884 $ 13,089
Summarized Operating Data for Unconsolidated Investment	Summarized operating data for CVC Credit Partners is presented below (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Management fee revenues $ 15,891 $ 14,399 $ 32,629 $ 26,787 Costs and expenses (14,118 ) (13,551 ) (28,927 ) (24,847 ) Net income $ 1,773 $ 848 $ 3,702 $ 1,940 Portion of net income attributable to the Company $ 580 $ 280 $ 1,222 $ 641

ACCRUED EXPENSES AND OTHER LI36

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2015
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): June 30, December 31, Accounts payable and other accrued liabilities $ 7,091 $ 6,045 Supplemental executive retirement plan ("SERP") liability (see Note 14) 6,052 6,383 Accrued wages and benefits 3,584 4,580 Deferred rent 2,475 2,485 Apidos contractual obligation, at fair value (see Notes 8 and 16) 664 745 Dividends 1,355 1,312 Insurance notes 20 729 Total accrued expenses and other liabilities $ 21,241 $ 22,279

BORROWINGS (Tables)

BORROWINGS (Tables)	6 Months Ended
	Jun. 30, 2015
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 June 30, 2015 December 31, Maximum Amount of Facility Borrowings Outstanding Borrowings Outstanding Credit facilities: TD Bank – secured revolving credit facility (1) $ 10,997 $ — $ — Republic Bank – secured revolving credit facility 2,432 — — — — Other debt: Senior Notes 10,000 10,000 Mortgage debt - hotel property 9,984 10,088 Other debt 1,045 324 Total borrowings outstanding $ 21,029 $ 20,412 (1) The amount of the facility as shown has been reduced $503,000 for an outstanding letter of credit.
Annual Principal Payments on the Company's Aggregate Borrowings Over the Next Five Years and Thereafter	Annual principal payments coming due on the Company’s aggregate borrowings for the next five years ending June 30, and thereafter, are as follows (in thousands): 2016 $ 603 2017 10,608 2018 532 2019 265 2020 281 Thereafter 8,740 Total $ 21,029

ACCUMULATED OTHER COMPREHENSI38

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Jun. 30, 2015
Comprehensive Income (Loss) [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss) by Category	The following are changes in accumulated other comprehensive (loss) income by category (in thousands): Investment Securities Available-for-Sale Cash Flow Hedges Foreign Currency Translation Adjustments SERP Pension Liability Total Balance, December 31, 2014, net of tax of $472, $0, $(3) and $(2,700) $ 1,979 $ (1 ) $ (5 ) $ (3,003 ) $ (1,030 ) Current-period other comprehensive (loss) income 19 — 2 94 115 Balance, June 30, 2015 net of tax of $676, $0, $(3) and $(2,583) $ 1,998 $ (1 ) $ (3 ) $ (2,909 ) $ (915 ) Amounts reclassified from accumulated other comprehensive income were reflected in the consolidated financial statements, as follows: Category Locations in the consolidated financial statements Investment securities available-for-sale Revenues - Financial fund management Cash flow hedges Revenues - commercial finance SERP pension liability General and administrative expenses Foreign currency translation adjustments Other income

NONCONTROLLING INTERESTS (Table

NONCONTROLLING INTERESTS (Tables)	6 Months Ended
	Jun. 30, 2015
Noncontrolling Interest [Abstract]
Activity in Noncontrolling Interest	The following table presents the activity in noncontrolling interests (in thousands): For the Six Months Ended RSO Other Noncontrolling interests, beginning of year $ 916,543 $ 306 Net income (loss) attributable to noncontrolling interests (4,257 ) 55 Other comprehensive loss (5,976 ) 15 Proceeds from issuance of equity interests, net 3,159 — Amortization of stock-based compensation 1,787 — Discount on 6% senior convertible notes 2,528 — Contributions from (distributions to) noncontrolling interests (55,279 ) — Other 593 — Noncontrolling interests, end of period $ 859,098 $ 376

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2015
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 Six Months Ended June 30, June 30, 2015 2014 2015 2014 Shares Basic shares outstanding 22,867 20,386 22,915 20,320 Dilutive effect of outstanding director units and stock options (1) — 1,646 — 1,711 Diluted shares outstanding 22,867 22,032 22,915 22,031 (1) Due to the losses for the three and six months ended June 30, 2015 , director units and stock options outstanding were antidilutive and, therefore, excluded from the Diluted EPS computation. As a result, Basic EPS and Diluted EPS shares were the same. Excluded from the Diluted EPS calculation were outstanding options to purchase 565,000 shares of common stock at a weighted average exercise price of $17.62 per share.

BENEFIT PLANS (Tables)

BENEFIT PLANS (Tables)	6 Months Ended
	Jun. 30, 2015
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 Six Months Ended June 30, June 30, 2015 2014 2015 2014 Interest cost $ 63 $ 69 $ 125 $ 137 Less: expected return on plan assets (18 ) (39 ) (37 ) (78 ) Plus: amortization of unrecognized loss 105 69 211 139 Net cost $ 150 $ 99 $ 299 $ 198

CERTAIN RELATIONSHIPS AND REL42

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2015
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): June 30, December 31, Receivables from managed entities and related parties, net: Real estate investment entities (1) $ 20,191 $ 23,733 Commercial finance investment entities (2) 2,453 2,883 Financial fund management investment entities 1,172 663 Other 326 488 Loan receivable from CVC Credit Partners 2,378 2,536 Receivables from managed entities and related parties $ 26,520 $ 30,303 Payables due to managed entities and related parties, net: Real estate investment entities (3) $ 4,665 $ 2,942 Other 83 73 Payables to managed entities and related parties $ 4,748 $ 3,015 (1) Includes a $307,000 reserve for credit losses for management fees due from one of the Company's real estate investment entities: there was no reserve at December 31, 2014 . (2) Amounts shown are net of reserves for credit losses of $17.4 million and $17.0 million as of June 30, 2015 and December 31, 2014 , respectively, related to management fees due from one of the Company's commercial finance investment entities that, based on estimated cash distributions, are not expected to be collectible. (3) Reflects $4.3 million and $2.6 million in self-insurance funds provided by the Company's real estate investment entities as of June 30, 2015 and December 31, 2014 , respectively, which are held in escrow by the Company
Schedule of Fees, Dividends and Reimbursed Expenses from Several Related/Managed Entities	The following table details those activities (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Fees from unconsolidated investment entities : Real estate (1) $ 12,173 $ 8,519 $ 21,607 $ 17,444 Financial fund management 785 1,265 1,567 2,067 Commercial finance (2) — — — — CVC Credit Partners – reimbursement of net costs and expenses 246 444 475 625 RRE Opportunity REIT I: Reimbursement of costs and expenses 934 564 1,822 915 Dividends paid 29 29 44 58 RRE Opportunity REIT II: Reimbursement of costs and expenses 762 446 1,499 948 Dividends paid 13 — 20 — LEAF: Payment for sub-servicing the commercial finance investment partnerships (18 ) (74 ) (41 ) (201 ) Reimbursement of net costs and expenses 41 28 77 64 1845 Walnut Associates Ltd: Payment for rent and related expenses (209 ) (203 ) (416 ) (407 ) Property management fees 38 77 76 93 Brandywine Construction & Management, Inc. – payment for property management of hotel property (81 ) (72 ) (133 ) (112 ) Atlas Energy, L.P. – reimbursement of net costs and expenses 11 42 24 72 Ledgewood P.C. – payment for legal services (55 ) (43 ) (89 ) (67 ) Graphic Images, LLC – payment for printing services (36 ) (29 ) (84 ) (89 ) The Bancorp, Inc. – reimbursement of net costs and expenses — 28 — 55 9 Henmar LLC – payment of broker/consulting fees (14 ) (15 ) (17 ) (18 ) (1) Reflects the reversal of discounts of $3,000 and $210,000 for the three and six months ended June 30, 2015 , respectively, and $41,000 and $74,000 for the three and six months ended June 30, 2014 , respectively, in connection with management fees from the Company's real estate investment entities that it expects to receive in future periods. (2) The Company waived management fees from its commercial finance investment entities of $31,000 and $80,000 during the three and six months ended June 30, 2015 , respectively, and $276,000 and $500,000 during the three and six months ended June 30, 2014 , respectively .

FAIR VALUE (Tables)

FAIR VALUE (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Company's Asset Recorded at Fair Value on Recurring Basis	The fair value of the Company’s assets and liabilities recorded at fair value on a recurring basis were as follows (in thousands): Level 1 Level 2 Level 3 Total Assets - Investment securities June 30, 2015 $ 497 $ 715 $ 9,658 $ 10,870 December 31, 2014 $ 310 $ 741 $ 8,489 $ 9,540 Liabilities - Apidos contractual commitment Level 1 Level 2 Level 3 Total June 30, 2015 $ — $ — $ 664 $ 664 December 31, 2014 $ — $ — $ 745 $ 745
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 six months ended June 30, 2015 (in thousands): Investment Securities Balance, beginning of year $ 8,489 Purchases 1,056 Income accreted 572 Payments and distributions received, net (944 ) Sales (175 ) Losses on sales of trading securities (15 ) Unrealized holding gains on trading securities 43 Change in unrealized gains included in accumulated other comprehensive loss 632 Balance, end of period $ 9,658 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 year ended December 31, 2014 (in thousands): Investment Securities Balance, beginning of year $ 7,407 Purchases 15,063 Income accreted 995 Payments and distributions received, net (3,752 ) Sales (13,235 ) Gain on sale of investment securities, net 445 Unrealized losses on trading securities (200 ) Gains on trading securities 1,834 Change in unrealized losses included in accumulated other comprehensive loss (68 ) Balance, end of year $ 8,489
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 June 30, 2015 Valuation Technique Unobservable Inputs Assumptions (weighted average) CLO securities $ 9,377 Discounted cash flow Constant default rate 0% - 2% Loss severity rate 25% Constant prepayment rate - year one 30% Constant prepayment rate - thereafter 25% Reinvestment price on collateral 99.5% Reinvestment spread 0% - 450% Discount rates 14% Trading securities $ 281 Net asset value Value of underlying assets variable Discounted cash flow Constant default rate 5% - 9% Constant prepayment rate 20% - 30% Loss severity rate 30%
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): June 30, 2015 December 31, 2014 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Borrowings: Real estate debt $ 9,984 $ 10,820 $ 10,088 $ 11,197 Senior Notes 10,000 13,240 10,000 12,820 Other debt 1,045 1,045 324 324 $ 21,029 $ 25,105 $ 20,412 $ 24,341

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Summarized Operating Segment Data	Summarized operating segment data are as follows (in thousands): Three Months Ended Real Financial Commercial All (1) Total RSO Eliminations Total Revenues from external customers $ 19,705 $ 2,556 $ 7 $ — $ 22,268 $ 24,201 $ (3,370 ) $ 43,099 Equity in earnings (losses) of unconsolidated entities 1,411 2,225 (5 ) — 3,631 — (734 ) 2,897 Total revenues 21,116 4,781 2 — 25,899 24,201 (4,104 ) 45,996 Segment operating expenses (12,082 ) (3,154 ) (458 ) (15,694 ) (54,535 ) 3,368 (66,861 ) General and administrative expenses (1,376 ) (451 ) — (2,354 ) (4,181 ) — — (4,181 ) Provision for credit losses (194 ) — (82 ) — (276 ) — — (276 ) Depreciation and amortization (343 ) (16 ) — (156 ) (515 ) — — (515 ) Impairment on investment in unconsolidated entities — (4,346 ) — — (4,346 ) — — (4,346 ) Interest expense (179 ) — (1 ) (275 ) (455 ) — — (455 ) Other income (expense), net 248 475 2 (36 ) 689 10,537 (454 ) 10,772 Pretax loss (income) attributable to noncontrolling interests (2) (63 ) — — — (63 ) (8,296 ) 30,348 21,989 Income (loss) from continuing operations, net of noncontrolling interests before taxes $ 7,127 $ (2,711 ) $ (537 ) $ (2,821 ) $ 1,058 $ (28,093 ) $ 29,158 $ 2,123 Six Months Ended Real Financial Commercial All (1) Total RSO Eliminations Total Revenues from external customers $ 35,999 $ 5,685 $ 20 $ — $ 41,704 $ 48,562 $ (6,822 ) $ 83,444 Equity in earnings (losses) of unconsolidated entities 2,083 4,233 (20 ) — 6,296 — (1,555 ) 4,741 Total revenues 38,082 9,918 — — 48,000 48,562 (8,377 ) 88,185 Segment operating expenses (23,581 ) (6,144 ) (1,037 ) — (30,762 ) (75,595 ) 6,736 (99,621 ) General and administrative expenses (2,255 ) (735 ) (4,488 ) (7,478 ) — — (7,478 ) Provision for credit losses (308 ) — (370 ) — (678 ) — — (678 ) Depreciation and amortization (655 ) (32 ) — (285 ) (972 ) — — (972 ) Impairment on investment in unconsolidated entities — (4,346 ) — — (4,346 ) — — (4,346 ) Interest expense (362 ) — (1 ) (513 ) (876 ) — — (876 ) Other income (expense), net 471 916 3 (387 ) 1,003 27,053 (921 ) 27,135 Pretax income attributable to noncontrolling interests (2) (55 ) — — — (55 ) (16,864 ) 21,121 4,202 Income (loss) from continuing operations, net of noncontrolling interests before taxes $ 11,337 $ (423 ) $ (1,405 ) $ (5,673 ) $ 3,836 $ (16,844 ) $ 18,559 $ 5,551 Three Months Ended Real Financial Commercial All Other (1) Total RSO Eliminations Total Revenues from external customers $ 13,674 $ 6,826 $ — $ — $ 20,500 $ 23,828 $ (3,040 ) $ 41,288 Equity in (losses) earnings of unconsolidated entities (226 ) 1,315 (42 ) — 1,047 — — 1,047 Total revenues 13,448 8,141 (42 ) — 21,547 23,828 (3,040 ) 42,335 Segment operating expenses (9,105 ) (2,779 ) (123 ) — (12,007 ) (16,853 ) 3,053 (25,807 ) General and administrative expenses (731 ) (445 ) — (1,553 ) (2,729 ) — — (2,729 ) Reversal of (provision for) credit losses 7 — (1,582 ) — (1,575 ) — — (1,575 ) Depreciation and amortization (310 ) (20 ) — (135 ) (465 ) — — (465 ) Gain on sale of investment securities, net — 370 — — 370 — — 370 Interest expense (191 ) — (9 ) (297 ) (497 ) — — (497 ) Other income, net 111 555 — (76 ) 590 10,281 (561 ) 10,310 Pretax loss (income) attributable to noncontrolling interests (2) (84 ) — — — (84 ) (17,405 ) — (17,489 ) Income (loss) from continuing operations, net of noncontrolling interests before taxes $ 3,145 $ 5,822 $ (1,756 ) $ (2,061 ) $ 5,150 $ (149 ) $ (548 ) $ 4,453 Six Months Ended Real Financial Commercial All (1) Total RSO Eliminations Total Revenues from external customers $ 27,304 $ 12,816 $ — $ — $ 40,120 $ 49,073 $ (5,920 ) $ 83,273 Equity in (losses) earnings of unconsolidated entities (581 ) 2,400 (141 ) — 1,678 — — 1,678 Total revenues 26,723 15,216 (141 ) — 41,798 49,073 (5,920 ) 84,951 Segment operating expenses (17,980 ) (7,168 ) (226 ) — (25,374 ) (28,138 ) 5,872 (47,640 ) General and administrative expenses (1,827 ) (898 ) — (3,158 ) (5,883 ) — — (5,883 ) Reversal of (provision for) credit losses 10 — (2,793 ) — (2,783 ) — — (2,783 ) Depreciation and amortization (618 ) (31 ) — (267 ) (916 ) — — (916 ) Gain on sale of investment securities, net — 370 — — 370 — — 370 Interest expense (387 ) — (9 ) (584 ) (980 ) — — (980 ) Other income, net 367 1,126 (2 ) (164 ) 1,327 13,797 (1,115 ) 14,009 Pretax income attributable to noncontrolling interests (2) (44 ) — — — (44 ) (34,556 ) — (34,600 ) Income (loss) from continuing operations including noncontrolling interests before taxes $ 6,244 $ 8,615 $ (3,171 ) $ (4,173 ) $ 7,515 $ 176 $ (1,163 ) $ 6,528 Segment assets Real Financial Commercial All (1) Total RSO Total June 30, 2015 $ 197,599 $ 49,022 $ 3,863 $ (82,003 ) $ 168,481 $ 2,774,224 $ 2,942,705 June 30, 2014 $ 183,279 $ 59,959 $ 5,469 $ (83,429 ) $ 165,278 $ 2,558,168 $ 2,723,446 (1) Includes general corporate expenses and assets not allocable to any particular segment. (2) In viewing its segment operations, the Company includes the pretax income attributable to noncontrolling interests. However, these interests are excluded from income (loss) from operations as computed in accordance with U.S. GAAP and should be deducted to compute income from operations as reflected in the Company’s consolidated statements of operations.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	6 Months Ended
	Jun. 30, 2015
Variable Interest Entity [Line Items]
Schedule of Variable Interest Entities	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 nonconsolidated VIEs and the Company's maximum exposure to loss associated with these VIEs in which it holds variable interests at June 30, 2015 (in thousands): Receivables from Managed Entities and Related Parties, Net (1) Investments Maximum Exposure to Loss in Non-consolidated VIEs Ischus entities $ 158 $ — $ 158 Trapeza entities — 621 621 RREGPS — 716 716 Pearlmark — 3,647 3,647 $ 158 $ 4,984 $ 5,142 (1) Exclusive of expense reimbursements due to the Company.
Supplemental Cash Flow Information	Supplemental disclosure of cash flow information for the Company is as follows (in thousands, per share data): Six Months Ended June 30, 2015 2014 Cash (paid) received: Interest $ (948 ) $ (828 ) Income tax payments (1,088 ) (916 ) Refund of income taxes 52 48 Dividends declared per common share $ 0.12 $ 0.10 Non-cash activities: Repurchase of common stock from employees in exchange for the payment of income taxes $ 173 $ 255 Purchase of equipment on capital leases 881 — Issuance of treasury stock for the Company's investment savings 401(k) plan 271 306
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 on available-for-sale securities, along with their related fair value, 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 Losses Number of Securities Fair Value Unrealized Losses Number of Securities June 30, 2015 CLO securities $ 979 $ (33 ) 2 $ — $ — — Equity securities 214 (1 ) 1 — — — Total $ 1,193 $ (34 ) 3 $ — $ — — December 31, 2014 CLO securities $ 2,643 $ (176 ) 4 $ — $ — — Equity securities — — — — — — Total $ 2,643 $ (176 ) 4 $ — $ — —
Schedule of Equity Method Investments	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 June 30, December 31, Real estate investment entities 1% – 12% $ 11,461 $ 8,313 Financial fund management partnerships 0.01% − 50% 4,802 4,162 Trapeza entities 33% − 50% 621 614 Investments in unconsolidated entities $ 16,884 $ 13,089
Summary of Activity in the Allowance for Credit Losses for the Company's Financing Receivables	The following table summarizes the activity in the allowance for credit losses for all financing receivables (in thousands): Receivables from Managed Entities Leases and Loans Rent Receivables Total Three Months Ended June 30, 2015: Balance, beginning of period $ 17,359 $ — $ 1 $ 17,360 Provision for (reversal) of credit losses 306 (31 ) 1 276 (Charge-offs) recoveries — 31 — 31 Balance, end of period $ 17,665 $ — $ 2 $ 17,667 Ending balance, individually evaluated for impairment $ 17,665 $ — $ 2 $ 17,667 Ending balance, collectively evaluated for impairment — — — — Balance, end of period $ 17,665 $ — $ 2 $ 17,667 Six Months Ended June 30, 2015: Balance, beginning of period $ 16,990 $ — $ — $ 16,990 Provision for (reversal) of credit losses 675 1 2 678 (Charge-offs) recoveries — (1 ) — (1 ) Balance, end of period $ 17,665 $ — $ 2 $ 17,667 Ending balance, individually evaluated for impairment $ 17,665 $ — $ 2 $ 17,667 Ending balance, collectively evaluated for impairment — — — — Balance, end of period $ 17,665 $ — $ 2 $ 17,667 Loans and receivables from Managed Entities Leases and Loans Rent Receivables Total Three Months Ended June 30, 2014: Balance, beginning of period $ 37,441 $ — $ 10 $ 37,451 Provision for credit losses 1,588 (5 ) (8 ) 1,575 Charge-offs (1 ) — — (1 ) Recoveries — 5 — 5 Balance, end of period $ 39,028 $ — $ 2 $ 39,030 Six Months Ended June 30, 2014: Balance, beginning of period $ 36,229 $ — $ 14 $ 36,243 Provision for credit losses 2,801 (6 ) (12 ) 2,783 Charge-offs (2 ) — — (2 ) Recoveries — 6 — 6 Balance, end of period $ 39,028 $ — $ 2 $ 39,030 Ending balance, individually evaluated for impairment $ 39,028 $ — $ — $ 39,028 Ending balance, collectively evaluated for impairment — — 2 2 Balance, end of period $ 39,028 $ — $ 2 $ 39,030
Aging of the Company's Past Due Financing Receivables, Gross of Allowances for Credit Losses	The following table is the aging of the Company’s financing receivables (presented gross of allowance for credit losses) as of June 30, 2015 (in thousands): Current 30-89 Days Past Due 90-180 Days Past Due Greater than 181 Days Total Past Due Total Loans and receivables from managed entities and related parties: (1) Commercial finance investment entities $ 2 $ 341 $ 1,121 $ 18,347 $ 19,809 $ 19,811 Real estate investment entities 4,067 269 1,094 15,069 16,432 20,499 Financial fund management entities 1,092 47 30 — 77 1,169 Other 2,706 — — — — 2,706 7,867 657 2,245 33,416 36,318 44,185 Rent receivables - real estate 168 8 3 — 11 179 Total financing receivables $ 8,035 $ 665 $ 2,248 $ 33,416 $ 36,329 $ 44,364 (1) Receivables are presented gross of an allowance for credit losses of $17.4 million related to one of the Company’s commercial finance investment entities and $307,000 related to one of its real estate investment partnerships. 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 financing receivables (presented gross of allowance for credit losses) as of December 31, 2014 (in thousands): Current 30-89 Days Past Due 90-180 Days Past Due Greater than 181 Days Total Past Due Total Loans and receivables from managed entities and related parties: (1) Commercial finance investment entities $ 9 $ 342 $ 1,124 $ 18,398 $ 19,864 $ 19,873 Real estate investment entities 6,613 772 1,214 15,134 17,120 23,733 Financial fund management entities 583 74 — 6 80 663 Other 3,024 — — — — 3,024 10,229 1,188 2,338 33,538 37,064 47,293 Rent receivables - real estate 76 11 1 — 12 88 Total financing receivables $ 10,305 $ 1,199 $ 2,339 $ 33,538 $ 37,076 $ 47,381 (1) Receivables are presented gross of an allowance for credit losses of $17.0 million related to one of the Company’s commercial finance investment entities. The remaining receivables from managed entities and related parties have no related allowance for credit losses.
Information about Company's Impaired Financing Receivables	The following table discloses information about the Company’s impaired financing receivables (in thousands): Net Balance Unpaid Balance Specific Allowance Average Investment in Impaired Assets As of June 30, 2015: Financing receivables with a specific valuation allowance: Loans and receivables from managed entities – commercial finance $ 1,044 $ 18,402 $ 17,358 $ 18,420 Loans and receivables from managed entities – real estate 540 $ 849 307 606 Rent receivables – real estate — — 2 — As of December 31, 2014: Financing receivables with a specific valuation allowance: Loans and receivables from managed entities – commercial finance $ 1,295 $ 18,285 $ 16,990 $ 18,882
Debt and Credit Facilities	The credit facilities and other debt of the Company and related borrowings outstanding are as follows (in thousands): As of June 30, 2015 December 31, Maximum Amount of Facility Borrowings Outstanding Borrowings Outstanding Credit facilities: TD Bank – secured revolving credit facility (1) $ 10,997 $ — $ — Republic Bank – secured revolving credit facility 2,432 — — — — Other debt: Senior Notes 10,000 10,000 Mortgage debt - hotel property 9,984 10,088 Other debt 1,045 324 Total borrowings outstanding $ 21,029 $ 20,412 (1) The amount of the facility as shown has been reduced $503,000 for an outstanding letter of credit.
Company's Asset Recorded at Fair Value on Recurring Basis	The fair value of the Company’s assets and liabilities recorded at fair value on a recurring basis were as follows (in thousands): Level 1 Level 2 Level 3 Total Assets - Investment securities June 30, 2015 $ 497 $ 715 $ 9,658 $ 10,870 December 31, 2014 $ 310 $ 741 $ 8,489 $ 9,540 Liabilities - Apidos contractual commitment Level 1 Level 2 Level 3 Total June 30, 2015 $ — $ — $ 664 $ 664 December 31, 2014 $ — $ — $ 745 $ 745
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 six months ended June 30, 2015 (in thousands): Investment Securities Balance, beginning of year $ 8,489 Purchases 1,056 Income accreted 572 Payments and distributions received, net (944 ) Sales (175 ) Losses on sales of trading securities (15 ) Unrealized holding gains on trading securities 43 Change in unrealized gains included in accumulated other comprehensive loss 632 Balance, end of period $ 9,658 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 year ended December 31, 2014 (in thousands): Investment Securities Balance, beginning of year $ 7,407 Purchases 15,063 Income accreted 995 Payments and distributions received, net (3,752 ) Sales (13,235 ) Gain on sale of investment securities, net 445 Unrealized losses on trading securities (200 ) Gains on trading securities 1,834 Change in unrealized losses included in accumulated other comprehensive loss (68 ) Balance, end of year $ 8,489
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): June 30, 2015 December 31, 2014 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Borrowings: Real estate debt $ 9,984 $ 10,820 $ 10,088 $ 11,197 Senior Notes 10,000 13,240 10,000 12,820 Other debt 1,045 1,045 324 324 $ 21,029 $ 25,105 $ 20,412 $ 24,341
RSO [Member]
Variable Interest Entity [Line Items]
Condensed Financial Statements	The following reflects the assets and liabilities and operations of RSO which were consolidated by the Company: RSO Balance Sheets Detail (in thousands): June 30, December 31, 2014 ASSETS (1) Cash and cash equivalents $ 145,010 $ 79,905 Restricted cash 45,755 122,138 Subtotal - Cash and cash equivalents 190,765 202,043 Investment securities, trading 32,680 20,786 Investment securities available-for-sale, pledged as collateral, at fair value 170,935 197,800 Investment securities available-for-sale, at fair value 82,493 77,920 Subtotal - Investments, at fair value 286,108 296,506 Loans, pledged as collateral and net of allowances of $46.3 million and $4.6 million 2,042,885 1,925,980 Loans receivable–related party — 558 Loans held for sale 111,122 113,675 Subtotal - Loans, before eliminations 2,154,007 2,040,213 Eliminations — (558 ) Subtotal - Loans 2,154,007 2,039,655 Property held for sale 180 180 Investments in unconsolidated entities 56,150 59,827 Subtotal, Investments in real estate and unconsolidated entities 56,330 60,007 Line items included in "other assets": Linked transactions, net at fair value — 15,367 Derivatives, at fair value 4,289 5,304 Interest receivable 12,046 16,260 Deferred tax asset 12,828 12,634 Principal paydown receivable 11,525 40,920 Direct financing leases 1,590 2,109 Intangible assets 24,370 18,610 Prepaid expenses 3,913 4,196 Other assets 16,453 14,510 Subtotal - Other assets, before eliminations 87,014 129,910 Eliminations — (109 ) Subtotal - Other assets 87,014 129,801 Total assets (excluding eliminations) $ 2,774,224 $ 2,728,679 Total assets (including eliminations) $ 2,774,224 $ 2,728,012 LIABILITIES (2) Borrowings $ 1,827,461 $ 1,716,871 Eliminations 332 205 Subtotal Borrowings 1,827,793 1,717,076 Distribution payable 25,504 30,592 Accrued interest expense 5,467 2,123 Derivatives, at fair value 6,991 8,476 Accrued tax liability 6,383 9,219 Accounts payable and other liabilities 9,769 9,287 Subtotal - Other liabilities, before eliminations 54,114 59,697 Eliminations (2,474 ) (2,446 ) Subtotal - Other liabilities 51,640 57,251 Total liabilities (before eliminations) $ 1,881,575 $ 1,776,568 Total liabilities (after eliminations) $ 1,879,433 $ 1,774,327 RSO Balance Sheets Detail (in thousands): June 30, December 31, (1) Assets of consolidated Variable Interest Entities ("VIE") included in total assets above: Cash and cash equivalents $ 189 $ 25 Restricted cash 43,954 121,247 Investments securities available-for-sale, pledged as collateral, at fair value 84,858 119,203 Loans held for sale 6,027 282 Loans, pledged as collateral and net of allowances of $42.7 million 1,352,546 1,261,137 Interest receivable 5,468 8,941 Prepaid expenses 182 221 Principal paydown receivable — 25,767 Other assets 9 (12 ) Total assets of consolidated RSO VIEs $ 1,493,233 $ 1,536,811 (2) Liabilities of consolidated VIEs included in total liabilities above : Borrowings $ 1,047,172 $ 1,046,494 Accrued interest expense 852 1,000 Derivatives, at fair value 5,946 8,439 Unsettled loan purchases (529 ) (529 ) Accounts payable and other liabilities 190 (386 ) Total liabilities of consolidated RSO VIEs $ 1,053,631 $ 1,055,018 RSO Operations Statement Detail (in thousands): For the Three Months Ended For the Six Months Ended June 30, June 30, 2015 2014 2015 2014 REVENUES Interest income: Loans $ 29,759 $ 26,219 $ 62,422 $ 46,448 Securities 5,500 3,391 9,552 7,395 Leases 163 — 258 — Interest income − other 1,119 982 1,951 3,834 Total interest income 36,541 30,592 74,183 57,677 Interest expense 15,803 10,610 30,705 20,238 Net interest income 20,738 19,982 43,478 37,439 Rental income — 1,507 — 6,659 Dividend income 17 17 33 153 Fee income 3,446 2,322 5,051 4,822 Revenues from consolidated VIE-RSO 24,201 23,828 48,562 49,073 OPERATING EXPENSES Management fees − related party 3,500 3,314 7,060 6,394 Equity compensation − related party 791 2,032 1,786 3,699 Rental operating expense — 1,077 6 4,473 Lease operating 24 — 47 — General and administrative - Corporate 4,067 4,750 8,850 7,589 General and administrative - PCM 6,722 4,138 13,801 7,565 Depreciation and amortization 621 760 1,186 1,596 Impairment losses — — 59 — Provision (recovery) for loan losses 38,810 782 42,800 (3,178 ) Total operating expenses 54,535 16,853 75,595 28,138 Reclassification of income tax expense — — — — Expenses of consolidated VIE-RSO 54,535 16,853 75,595 28,138 Adjusted operating income (30,334 ) 6,975 (27,033 ) 20,935 OTHER INCOME (EXPENSE) Equity in earnings of unconsolidated subsidiaries 662 1,762 1,368 3,776 Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives 9,745 1,648 24,168 3,736 Net realized and unrealized gains (loss) on investment securities, trading 279 (650 ) 2,353 (2,210 ) Unrealized gain (loss) and net interest income on linked transactions, net — 5,012 235 7,317 (Loss) on reissuance/ gain on extinguishment of debt (171 ) (533 ) (1,071 ) (602 ) (Loss) gain on sale of real estate 22 3,042 — 3,042 Other income (expense) — — — (1,262 ) Other income, net, from consolidated VIE - RSO 10,537 10,281 27,053 13,797 Income from continuing operations (19,797 ) 17,256 20 34,732 Income tax (expense) benefit - RSO (2,918 ) 446 (4,765 ) 430 NET INCOME (LOSS) (22,715 ) 17,702 (4,745 ) 35,162 Net (loss) income allocated to preferred shares (6,116 ) (3,358 ) (12,207 ) (5,758 ) Net (income) loss allocable to non-controlling interest, net of taxes (2,180 ) 333 (4,657 ) 389 NET INCOME (LOSS) ALLOCABLE TO RSO COMMON SHAREHOLDERS $ (31,011 ) $ 14,677 $ (21,609 ) $ 29,793 RSO Cash Flow Detail (in thousands) For the Six Months Ended June 30, 2015 2014 CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (4,745 ) $ 35,162 Items included in "Change in cash attributable to consolidated VIE-RSO": Provision (recovery of) for loan losses 42,800 (3,178 ) Depreciation of investments in real estate and other 5,572 1,922 Amortization of stock-based compensation 1,786 3,699 Amortization of (accretion) of terminated derivative instruments 134 142 Accretion (amortization) of interest-only available-for-sales securities 1,868 (339 ) Deferred income tax (benefit) expense (194 ) (689 ) Sale (purchase) of residential mortgage loans held for sale, net 15,229 (12,162 ) Capitalization of residential mortgage servicing rights (7,848 ) — Sale (purchase) of securities, trading, net (9,541 ) 429 Net realized and unrealized loss (gain) on investment securities, trading (2,353 ) 2,210 Net realized (gain) loss on sales of investment securities available-for-sale and loans (24,168 ) (2,148 ) Loss (gain) on reissuance (extinguishment) of debt 1,071 602 Loss (gain) on sales of real estate — (3,042 ) Settlement of derivative instruments 12,405 442 Net impairment losses recognized in earnings 59 — Linked transactions fair value adjustments (235 ) (5,923 ) Equity in net (earnings) losses of unconsolidated subsidiaries (1,368 ) (3,776 ) Changes in operating assets and liabilities, net of acquisitions 12,376 979 Net cash provided by (used in) operating activities 47,593 (20,832 ) Change in consolidated VIE-RSO cash for the period (65,105 ) 95,584 Subtotal - Change in cash attributable to consolidated VIE-RSO before eliminations (17,512 ) 74,752 Elimination of intercompany activity (29 ) (28 ) Subtotal - Adjustments to reconcile net income (loss) and operating cash flows to net income (loss) of consolidated VIE-RSO (17,541 ) 74,724 Net cash provided by (used in ) operating activities of consolidated VIE-RSO (excluding eliminations) 42,848 14,330 Six Months Ended June 30, 2015 2014 CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of loans (436,440 ) (489,800 ) Purchase of securities available-for-sale (11,320 ) (107,339 ) Subtotal - Purchase of loans and securities by consolidated VIE-RSO, before eliminations (447,760 ) (597,139 ) Principal payments received on loans 209,744 196,973 Proceeds from sale of loans 93,146 44,024 Principal payments on securities available-for-sale 49,819 25,774 Proceeds from sale of securities available-for-sale 37,221 99,151 Principal payments received on loans - related parties 558 1,759 Investment in loans - related parties — (244 ) Subtotal - principal payments and proceeds from sales received by consolidated VIE-RSO, before eliminations 390,488 367,437 (Increase) decrease in restricted cash 57,089 10,543 Items included in "Other investing activity of consolidated VIE-RSO": Return of capital from (investment in) unconsolidated entity 5,000 8,911 Acquisition of controlling interest in Moselle CLO S.A. — (30,433 ) Proceeds from sale of real estate held-for-sale 44 31,202 Improvements of investments in real estate — 252 Purchase of furniture and fixtures (10 ) (69 ) Acquisition of property and equipment (228 ) (332 ) Subtotal - Other investing activity of consolidated VIE-RSO, before eliminations 4,806 9,531 Eliminations (821 ) (391 ) Subtotal - Other investing activity of consolidated VIE-RSO 3,985 9,140 Net cash used in investing activities of consolidated VIE-RSO (excluding eliminations) 4,623 (209,628 ) Six Months Ended June 30, 2015 2014 CASH FLOWS FROM FINANCING ACTIVITIES: Items included in "Net borrowings (repayments) of debt by consolidated VIE-RSO" Proceeds from borrowings: Repurchase agreements, net of repayments — 142,019 Senior secured revolving credit facility 99,500 — Securitizations 282,127 43,000 Convertible senior notes 99,000 16,502 Reissuance of debt 12,229 — Payments on borrowings: Securitization (290,190 ) (152,556 ) Senior secured revolving credit facility (62,000 ) — Repurchase agreements, net of borrowings (56,383 ) — Subtotal - net borrowings of debt by consolidated VIE-RSO 84,283 48,965 Distributions paid on common stock (48,006 ) (51,457 ) Elimination of dividends paid to RAI 936 572 Distributions paid on common stock of consolidated VIE-RSO, after eliminations (47,070 ) (50,885 ) Net proceeds from issuances of common stock and dividend reinvestment and stock purchase plan, net of offering costs 129 14,554 Proceeds from issuance of preferred shares, net of offering costs 3,035 148,765 Repurchase of common stock (5 ) — Subtotal - net proceeds from issuance of stock by consolidated VIE-RSO 3,159 163,319 Payment of debt issuance costs (7,986 ) (8 ) Distributions paid to non-controlling interests (3,814 ) — Proceeds received from non-controlling interests 2,676 — Payment of equity to third party sub-note holders (519 ) (799 ) Distributions paid on preferred stock (12,159 ) (4,679 ) Subtotal - Other consolidated financing activity of consolidated VIE-RSO, before eliminations (21,802 ) (5,486 ) Eliminations 100 — Subtotal - Other consolidated financing activity of consolidated VIE-RSO (21,702 ) (5,486 ) Net cash provided by financing activities of consolidated VIE-RSO, excluding eliminations 17,634 155,341 Net increase (decrease) in cash and cash equivalents 65,105 (39,957 ) Cash and cash equivalents, beginning of year of consolidated VIE-RSO 79,905 262,270 Cash and cash equivalents, end of period of consolidated VIE-RSO $ 145,010 $ 222,313 Supplemental disclosures: Interest expense paid in cash $ 21,402 $ 17,438 Income taxes paid in cash $ 9,182 $ 3,249
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 June 30, 2015 (in thousands): Unconsolidated Variable Interest Entities LCC Unsecured Junior Subordinated Debentures Resource Capital Asset Management CDOs Investment in ZAIS Total Maximum Exposure to Loss Investment in unconsolidated entities $ 39,818 $ 1,548 $ — $ 10,228 $ 51,594 51,594 Intangible assets — — 8,542 — 8,542 8,542 Total assets 39,818 1,548 8,542 10,228 60,136 Borrowings — 51,308 — — 51,308 N/A Total liabilities — 51,308 — — 51,308 N/A Net asset (liability) $ 39,818 $ (49,760 ) 8,542 $ 10,228 $ 8,828 N/A The following table shows the classification and carrying value of assets and liabilities of RSO's consolidated VIEs as of June 30, 2015 (in thousands): Apidos I Apidos Apidos Whitney CLO I RREF RREF RCC CRE Notes 2013 RCC 2014-CRE2 RCC 2015-CRE3 Moselle RCM Global, LLC Total ASSETS (1) Cash and cash equivalents $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 189 $ 189 Restricted cash (1) 347 3,613 37,231 116 20 250 1,815 — 5 557 — 43,954 Investment securities available-for-sale, pledged as collateral, at fair value — — 10,268 — 5,854 56,448 — — — — 12,288 84,858 Loans, pledged as collateral — — 180,758 — 94,504 190,911 192,480 351,301 342,592 — — 1,352,546 Loans held for sale 153 1,358 4,516 — — — — — — — — 6,027 Interest receivable — — 734 — 374 1,302 792 1,324 1,240 — (298 ) 5,468 Prepaid assets — 10 24 — 15 95 28 10 — — — 182 Principal paydown receivable — — — — — — — — — — — — Other assets — — — — — — — 9 — — — 9 Total assets (2) $ 500 $ 4,981 $ 233,531 $ 116 $ 100,767 $ 249,006 $ 195,115 $ 352,644 $ 343,837 $ 557 $ 12,179 $ 1,493,233 LIABILITIES Borrowings $ — $ — $ 208,893 $ — $ 57,205 $ 125,055 $ 145,786 $ 231,846 $ 278,228 $ 159 $ — $ 1,047,172 Accrued interest expense — — 253 — 33 97 132 125 212 — — 852 Derivatives, at fair value — — — — 346 5,600 — — — — — 5,946 Unsettled loan purchases — — — — — — — — — — (529 ) (529 ) Accounts payable and other liabilities — 3 14 — 9 1 — — — 161 2 190 Total liabilities $ — $ 3 $ 209,160 $ — $ 57,593 $ 130,753 $ 145,918 $ 231,971 $ 278,440 $ 320 $ (527 ) $ 1,053,631 (1) Includes $2.1 million designated to fund future commitments on specific commercial real estate loans in certain of the securitizations. (2) Assets of each of the consolidated VIEs may only be used to settle the obligations of each respective VIE. (3) In October 2013, RSO liquidated Apidos CLO VIII and all of the assets were sold. However, RSO still owns its share of beneficial interests that caused it to consolidate it.
Supplemental Cash Flow Information	Supplemental disclosure of cash flow information is summarized for the periods indicated (in thousands): For the Six Months Ended June 30, 2015 2014 Non-cash investing activities include the following: Conversion of linked transactions assets to CMBS (1) $ 48,605 $ — Non-cash financing activities include the following: Distributions on common stock declared but not paid $ 21,426 $ 26,179 Distributions on preferred stock declared but not paid $ 4,078 $ 4,353 Issuance of restricted stock $ 1,158 $ 646 Conversion of linked transaction liabilities to repurchase agreement borrowings (1) $ 33,377 $ —
Investment Trading Securities at Fair Value	The following table summarizes RSO's structured notes and RMBS that are classified as investment securities, trading and carried at fair value (in thousands). Structured notes are CLO debt securities collateralized by syndicated bank loans, and RMBS is a type of mortgage-backed debt obligation whose cash flows come from residential debt. Amortized Cost Unrealized Gains Unrealized Losses Fair Value As of June 30, 2015: Structured notes $ 32,519 $ 3,027 $ (2,866 ) $ 32,680 RMBS 1,896 — (1,896 ) — Total $ 34,415 $ 3,027 $ (4,762 ) $ 32,680 As of December 31, 2014: Structured notes $ 22,876 $ 1,098 $ (3,188 ) $ 20,786 RMBS 1,896 — (1,896 ) — Total $ 24,772 $ 1,098 $ (5,084 ) $ 20,786
Available-for-sale Securities	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 Cost (1) Unrealized Gains Unrealized Losses Fair Value As of June 30, 2015: CMBS $ 181,399 $ 5,114 $ (1,191 ) $ 185,322 RMBS 2,422 112 (60 ) 2,474 ABS 55,039 8,755 (553 ) 63,241 Corporate bonds 2,419 5 (33 ) 2,391 Total $ 241,279 $ 13,986 $ (1,837 ) $ 253,428 As of December 31, 2014: CMBS $ 168,669 $ 4,938 $ (3,202 ) $ 170,405 RMBS 29,814 937 — 30,751 ABS 55,617 16,876 (336 ) 72,157 Corporate bonds 2,415 10 (18 ) 2,407 Total $ 256,515 $ 22,761 $ (3,556 ) $ 275,720 (1) As of June 30, 2015 and December 31, 2014 , $170.9 million and $197.8 million , respectively, of investment securities available-for-sale were pledged as collateral under related financings. The following table summarizes RSO's sales of investment securities available-for-sale, (in thousands, except number of securities): For the Three Months Ended Positions Sold Par Amount Sold Realized Gain (Loss) June 30, 2015 ABS 3 $ 3.626 $ 1.838 RMBS 6 $ 28,305 $ 984 June 30, 2014 CMBS 3 $ 15,970 $ 480
Estimated maturities of available for sale securities	The following table summarizes the estimated maturities of RSO’s CMBS, RMBS, ABS and corporate bonds according to their estimated weighted average life classifications (in thousands, except percentages): Weighted Average Life Fair Value Amortized Cost Weighted Average Coupon As of June 30, 2015: Less than one year $ 108,353 (1) $ 107,588 6.72 % Greater than one year and less than five years 95,677 88,814 6.94 % Greater than five years and less than ten years 17,522 16,245 13.43 % Greater than ten years 31,876 28,632 9.05 % Total $ 253,428 $ 241,279 7.56 % As of December 31, 2014: Less than one year $ 78,095 (1) $ 79,649 4.13 % Greater than one year and less than five years 115,302 100,909 4.64 % Greater than five years and less than ten years 20,177 17,516 16.45 % Greater than ten years 62,146 58,441 7.86 % Total $ 275,720 $ 256,515 6.08 %
Unrealized Losses Along with the Related Fair Value, Aggregated by the Length of Time the Investments were in a Continuous Unrealized Loss Position	The following table shows the fair value, gross unrealized losses and number of securities 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, except number of securities): Less than 12 Months More than 12 Months Total Fair Value Unrealized Losses Number of Securities Fair Value Unrealized Number of Securities Fair Value Unrealized Number of Securities As of June 30, 2015: CMBS $ 31,158 $ (246 ) 24 $ 18,989 $ (945 ) 10 $ 50,147 $ (1,191 ) 34 ABS 3,258 (524 ) 11 691 (29 ) 2 3,949 (553 ) 13 Corporate Bonds — — — 1,435 (33 ) 1 1,435 (33 ) 1 RMBS 1,132 (60 ) 2 — — — 1,132 (60 ) 2 Total temporarily impaired securities $ 35,548 $ (830 ) 37 $ 21,115 $ (1,007 ) 13 $ 56,663 $ (1,837 ) 50 As of December 31, 2014: CMBS $ 35,860 $ (555 ) 22 $ 25,583 $ (2,647 ) 13 $ 61,443 $ (3,202 ) 35 ABS 1,000 (278 ) 8 958 (58 ) 3 1,958 (336 ) 11 Corporate Bonds 1,447 (18 ) 1 — — — 1,447 (18 ) 1 Total temporarily impaired securities $ 38,307 $ (851 ) 31 $ 26,541 $ (2,705 ) 16 $ 64,848 $ (3,556 ) 47
Schedule of Receivables with Imputed Interest	The following is a summary of RSO’s loans (in thousands): Loan Description Principal Unamortized (Discount) Premium (1) Carrying Value (2) As of June 30, 2015: Commercial real estate loans: Whole loans $ 1,510,814 $ (8,211 ) $ 1,502,603 B notes 16,026 (29 ) 15,997 Mezzanine loans 54,821 1 54,822 Total commercial real estate loans 1,581,661 (8,239 ) 1,573,422 Bank loans 182,338 (581 ) 181,757 Middle market loans 331,822 (827 ) 330,995 Residential mortgage loans, held for investment 3,030 — 3,030 Subtotal loans before allowances 2,098,851 (9,647 ) 2,089,204 Allowance for loan loss (46,319 ) — (46,319 ) Total loans held for investment, net of allowances 2,052,532 (9,647 ) 2,042,885 Bank loans held-for-sale 6,028 — 6,028 Residential mortgage loans held-for-sale, at fair value (3) 105,094 — 105,094 Total loans held-for-sale 111,122 — 111,122 Total loans, net $ 2,163,654 $ (9,647 ) $ 2,154,007 As of December 31, 2014: Commercial real estate loans: Whole loans $ 1,271,121 $ (7,529 ) $ 1,263,592 B notes 16,120 (48 ) 16,072 Mezzanine loans 67,446 (80 ) 67,366 Total commercial real estate loans 1,354,687 (7,657 ) 1,347,030 Bank loans 332,058 (1,410 ) 330,648 Middle market loans 250,859 (746 ) 250,113 Residential mortgage loans, held for investment 2,802 — 2,802 Subtotal loans before allowances 1,940,406 (9,813 ) 1,930,593 Allowance for loan loss (4,613 ) — (4,613 ) Total loans, net of allowances 1,935,793 (9,813 ) 1,925,980 Bank loans held-for-sale 282 — 282 Residential mortgage loans held-for-sale, at fair value (3) 111,454 — 111,454 Total loans held-for-sale 111,736 — 111,736 Total loans, net $ 2,047,529 $ (9,813 ) $ 2,037,716 (1) Amounts include deferred amendment fees of $53,000 and $88,000 and deferred upfront fees of $27,000 and $82,000 being amortized over the life of the bank loans as of June 30, 2015 and December 31, 2014 , respectively. Amounts include loan origination fees of $8.2 million and $7.6 million as of June 30, 2015 and December 31, 2014 , respectively. (2) Substantially all loans are pledged as collateral under various borrowings at June 30, 2015 and December 31, 2014 , respectively. (3) Residential mortgage loans held for sale, at fair value consisted of $64.8 million and $40.3 million of agency-conforming and jumbo mortgage loans, respectively, as of June 30, 2015 . Residential mortgage loans held for sale, at fair value consisted of $28.9 million and $82.6 million of agency-conforming and jumbo mortgage loans, respectively, as of December 31, 2014 .
Schedule of Equity Method Investments	The following table shows RSO's investments in unconsolidated entities as of June 30, 2015 and December 31, 2014 and equity in earnings of unconsolidated subsidiaries for the three and six months ended June 30, 2015 and 2014 (in thousands): Equity in Earnings of Unconsolidated Subsidiary Balance as of Balance as of For the three months ended For the six months ended For the three months ended For the three months ended Ownership % June 30, December 31, 2014 June 30, June 30, June 30, June 30, Värde Investment 7.5% $ 654 $ 654 $ — $ — $ (19 ) $ (20 ) RRE VIP Borrower, LLC (1) 3% to 5% — — — 46 870 1,736 Investment in 28.4% 39,819 39,416 350 402 (278 ) (872 ) Investment in CVC Global Credit Opportunities Fund (2) 17.4% 14,129 18,209 312 920 1,124 1,958 Investment in Life Care Funding (3) 60.7% — — — — — (75 ) Investment in School Lane House (1) — — — — 65 1,049 Subtotal 54,602 58,279 662 1,368 1,762 3,776 Investment in RCT I and II (4) 3.0% 1,548 1,548 (602 ) (1,195 ) (594 ) (1,184 ) Investment in Preferred Equity (1)(5) — — — — 167 244 Total $ 56,150 $ 59,827 $ 60 $ 173 $ 1,335 $ 2,836 (1) Investment in School Lane House, Investment in RRE VIP Borrower and the Investment in Preferred Equity were sold or repaid as of December 31, 2014 . (2) In March 2015, RSO elected a partial redemption of $5.0 million from the fund. (3) In January 2013, Long Term Care Conversion ("LTCC") invested $2.0 million into Life Care Funding, LLC ("LCF") for the purpose of originating and acquiring life settlement contracts. In February 2014, RSO invested an additional $1.4 million which resulted in the consolidation of LCF during the first quarter of 2014. Ownership percentage represents ownership after consolidation. (4) For the three and six months ended June 30, 2015 and 2014 , these amounts are recorded in interest expense on RSO's consolidated statements of operations. (5) For the three and six months ended June 30, 2014 , these amounts are recorded in interest income on loans on RSO's consolidated statements of operations.
Summary of Activity in the Allowance for Credit Losses for the Company's Financing Receivables	The following tables show the allowance for loan losses and recorded investments in loans for the years indicated (in thousands): Commercial Real Estate Loans Bank Loans Middle Market Loans Residential Mortgage Loans Loans Receivable-Related Party Total As of June 30, 2015: Allowance for Loan Losses: Allowance for losses at January 1, 2015 $ 4,043 $ 570 $ — $ — $ — $ 4,613 Provision (recovery) for loan losses 38,072 1,734 3,320 (110 ) (216 ) 42,800 Loans charged-off — (1,307 ) (113 ) 110 216 (1,094 ) Recoveries — — — — — — Allowance for losses at June 30, 2015 $ 42,115 $ 997 $ 3,207 $ — $ — $ 46,319 Ending balance: Individually evaluated for impairment $ 40,275 $ 257 $ 3,207 $ — $ — $ 43,739 Collectively evaluated for impairment $ 1,840 $ 740 $ — $ — $ — $ 2,580 Loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — Loans: Ending balance: Individually evaluated for impairment $ 128,927 $ 474 $ 330,995 $ — $ — $ 460,396 Collectively evaluated for impairment $ 1,444,495 $ 181,283 $ — $ 3,030 $ — $ 1,628,808 Loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — As of December 31, 2014: Allowance for Loan Losses: Allowance for losses at January 1, 2014 $ 10,416 $ 3,391 $ — $ — $ — $ 13,807 Provision for loan losses (3,758 ) 4,173 92 — 1,297 1,804 Loans charged-off (2,615 ) (6,994 ) (92 ) — (1,297 ) (10,998 ) Allowance for losses at December 31, 2014 $ 4,043 $ 570 $ — $ — $ — $ 4,613 Ending balance: Individually evaluated for impairment $ — $ 570 $ — $ — $ — $ 570 Collectively evaluated for impairment $ 4,043 $ — $ — $ — $ — $ 4,043 Loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — Loans: Ending balance: Individually evaluated for impairment $ 166,180 $ 1,350 $ 250,113 $ — $ 1,277 $ 418,920 Collectively evaluated for impairment $ 1,180,850 $ 329,580 $ — $ 2,802 $ — $ 1,513,232 Loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ —
Financing Receivable Credit Quality Indicators	Credit risk profiles of middle market loans were as follows (in thousands): Rating 1 Rating 2 Rating 3 Rating 4 Rating 5 Held for Sale Total As of June 30, 2015: Middle market loans $ 19,225 $ 292,983 $ 13,831 $ — $ 4,956 $ — $ 330,995 As of December 31, 2014: Middle market loans $ — $ 240,245 $ 9,868 $ — $ — $ — $ 250,113 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 June 30, 2015: Whole loans $ 1,467,901 $ 32,500 $ — $ 2,202 $ — $ 1,502,603 B notes 15,997 — — — — 15,997 Mezzanine loans 16,750 — — 38,072 — 54,822 $ 1,500,648 $ 32,500 $ — $ 40,274 $ — $ 1,573,422 As of December 31, 2014: Whole loans $ 1,231,092 $ 32,500 $ — $ — $ — $ 1,263,592 B notes 16,072 — — — — 16,072 Mezzanine loans 45,432 21,934 — — — 67,366 $ 1,292,596 $ 54,434 $ — $ — $ — $ 1,347,030 Credit risk profiles of bank loans were as follows (in thousands): Rating 1 Rating 2 Rating 3 Rating 4 Rating 5 Held for Sale Total As of June 30, 2015: Bank loans $ 162,007 $ 12,577 $ 4,249 $ 2,450 $ 474 $ 6,028 $ 187,785 As of December 31, 2014: Bank loans $ 291,214 $ 32,660 $ 5,424 $ — $ 1,350 $ 282 $ 330,930
Aging of the Company's Past Due Financing Receivables, Gross of Allowances for Credit Losses	The following table shows the loan portfolio aging analysis as of the dates indicated at cost (in thousands): 30-59 Days 60-89 Days Greater than 90 Days Total Past Due Current (3) Total Loans Receivable Total Loans > 90 Days and Accruing As of June 30, 2015: Whole loans $ — $ — $ — $ — $ 1,502,603 $ 1,502,603 $ — B notes — — — — 15,997 15,997 — Mezzanine loans — — — — 54,822 54,822 — Bank loans (1) — — 474 474 187,311 187,785 — Middle market loans — 4,956 — 4,956 326,039 330,995 — Residential mortgage loans (2) — 80 116 196 107,928 108,124 — Total loans $ — $ 5,036 $ 590 $ 5,626 $ 2,194,700 $ 2,200,326 $ — As of December 31, 2014: Whole loans $ — $ — $ — $ — $ 1,263,592 $ 1,263,592 $ — B notes — — — — 16,072 16,072 — Mezzanine loans — — — — 67,366 67,366 — Bank loans (1) — — 1,350 1,350 329,580 330,930 — Middle market loans — — — — 250,113 250,113 — Residential mortgage loans (2) 443 82 119 644 113,612 114,256 — Loans receivable-related party — — — — 1,277 1,277 — Total loans $ 443 $ 82 $ 1,469 $ 1,994 $ 2,041,612 $ 2,043,606 $ — (1) Contains $6.0 million and $282,000 of bank loans held for sale at June 30, 2015 and December 31, 2014 , respectively. (2) Contains $105.1 million and $111.5 million of residential mortgage loans held for sale at June 30, 2015 and December 31, 2014 , respectively. (3) Current loans include one impaired mezzanine loan and one impaired whole loan with amortized costs of $38.1 million and $2.2 million , respectively, that were both fully reserved as of June 30, 2015 .
Information about Company's Impaired Financing Receivables	The following tables show impaired loans as of the dates indicated (in thousands): Recorded Balance Unpaid Principal Balance Specific Allowance Average Investment in Impaired Loans Interest Income Recognized As of June 30, 2015: Loans without a specific valuation allowance: Whole loans $ 128,927 $ 128,927 $ — $ 128,520 $ 14,606 B notes $ — $ — $ — $ — $ — Mezzanine loans $ — $ — $ — $ — $ — Bank loans $ — $ — $ — $ — $ — Middle market loans $ — $ — $ — $ — $ — Residential mortgage loans $ 3,030 $ 3,030 $ — $ 2,818 $ 81 Loans receivable - related party $ — $ — $ — $ — $ — Loans with a specific valuation allowance: Whole loans $ 2,202 $ 2,202 $ (2,202 ) $ 2,202 $ 26 B notes $ — $ — $ — $ — $ — Mezzanine loans $ 38,072 $ 38,072 $ (38,072 ) $ 38,072 $ — Bank loans $ 474 $ 474 $ (257 ) $ 237 $ — Middle market loans $ 4,956 $ 4,956 $ (3,207 ) $ 4,956 $ — Residential mortgage loans $ — $ — $ — $ — $ — Loans receivable - related party $ — $ — $ — $ — $ — Total: Whole loans $ 131,129 $ 131,129 $ (2,202 ) $ 130,722 $ 14,632 B notes — — — — — Mezzanine loans 38,072 38,072 (38,072 ) 38,072 — Bank loans 474 474 (257 ) 237 — Middle market loans 4,956 4,956 (3,207 ) 4,956 — Residential mortgage loans 3,030 3,030 — 2,818 81 Loans receivable - related party — — — — — $ 177,661 $ 177,661 $ (43,738 ) $ 176,805 $ 14,713 Recorded Balance Unpaid Principal Balance Specific Allowance Average Investment in Impaired Loans Interest Income Recognized As of December 31, 2014: Loans without a specific valuation allowance: Whole loans $ 128,108 $ 128,108 $ — $ 130,445 $ 12,679 B notes $ — $ — $ — $ — $ — Mezzanine loans $ 38,072 $ 38,072 $ — $ 38,072 $ 2,859 Bank loans $ — $ — $ — $ — $ — Middle market loans $ — $ — $ — $ — $ — Residential mortgage loans $ 2,082 $ 2,082 $ — $ 2,082 $ 148 Loans receivable - related party $ — $ — $ — $ — $ — Loans with a specific valuation allowance: Whole loans $ — $ — $ — $ — $ — B notes $ — $ — $ — $ — $ — Mezzanine loans $ — $ — $ — $ — $ — Bank loans $ 1,350 $ 1,350 $ (570 ) $ — $ — Middle market loans $ — $ — $ — $ — $ — Residential mortgage loans $ — $ — $ — $ — $ — Loans receivable - related party $ — $ — $ — $ — $ — Total: Whole loans $ 128,108 $ 128,108 $ — $ 130,445 $ 12,679 B notes — — — — — Mezzanine loans 38,072 38,072 — 38,072 2,859 Bank loans 1,350 1,350 (570 ) — — Middle market loans — — — — — Residential mortgage loans 2,082 2,082 — 2,082 148 Loans receivable - related party — — — — — $ 169,612 $ 169,612 $ (570 ) $ 170,599 $ 15,686
Troubled Debt Restructurings on Financing Receivables	The following tables show troubled-debt restructurings in RSO's loan portfolio (in thousands): Number of Loans Pre-Modification Outstanding Recorded Balance Post-Modification Outstanding Recorded Balance Six Months Ended June 30, 2015: Whole loans 2 $ 67,459 $ 67,459 B notes — — — Mezzanine loans 1 38,072 0 Bank loans — — — Middle market loans — — — Residential mortgage loans — — — Loans receivable - related party — — — Total loans 3 $ 105,531 $ 67,459
Schedule of Intangible Assets and Goodwill	The following table summarizes the activity of intangible assets for the period indicated (in thousands): Management Contracts Wholesale/Correspondent Relationships Mortgage Servicing Rights Total Balance, beginning of period $ 9,434 $ 302 $ 8,874 $ 18,610 Additions — — 8,360 8,360 Sales — — — — Amortization (892 ) (127 ) (1,831 ) (2,850 ) Total before impairment adjustment 8,542 175 15,403 24,120 Temporary impairment adjustment — — 250 250 Balance, June 30, 2015 $ 8,542 $ 175 $ 15,653 $ 24,370
Schedule Loan Servicing Portfolio	The activity in the loan servicing portfolio associated with capitalized servicing rights consisted of (in thousands): June 30, December 31, Balance, beginning of period $ 894,767 $ 433,153 Additions 633,511 519,915 Payoffs, sales and curtailments (79,666 ) (58,301 ) Balance, end of period $ 1,448,612 $ 894,767
Schedule of Servicing Fees	These cash flows include contractually specified servicing fees, late fees and other ancillary servicing revenue and were recorded within fee income as follows (in thousands): For the Three Months Ended For the Six Months Ended June 30, June 30, 2015 2014 2015 2014 Servicing fees from capitalized portfolio $ 911 $ 336 $ 1,462 $ 644 Late fees $ 18 $ 16 $ 41 $ 39 Other ancillary servicing revenue $ 3 $ (1 ) $ 7 $ 3
Debt and Credit Facilities	Certain information with respect to RSO’s borrowings is summarized in the following table (in thousands, except percentages): Principal Outstanding Unamortized Issuance Costs and Discounts Outstanding Borrowings Weighted Average Borrowing Rate Weighted Average Remaining Maturity Value of Collateral As of June 30, 2015: RREF CDO 2006-1 Senior Notes $ 57,205 $ — $ 57,205 2.28% 31.1 years $ 100,062 RREF CDO 2007-1 Senior Notes 125,055 — 125,055 1.19% 31.3 years 247,292 RCC CRE Notes 2013 Senior Notes 148,115 2,329 145,786 2.28% 13.5 years 192,666 RCC 2014-CRE2 Senior Notes 235,344 3,498 231,846 1.48% 16.8 years 348,194 RCC 2015-CRE3 Senior Notes 282,127 3,899 278,228 2.08% 16.7 years 340,076 Apidos Cinco CDO Senior Notes 208,893 — 208,893 0.93% 4.9 years 229,238 Moselle CLO S.A. Securitized Borrowings, at fair value (1) 159 — 159 N/A N/A 557 Unsecured Junior Subordinated Debentures (2) 51,548 240 51,308 4.20% 21.3 years — 6.0% Convertible Senior Notes 115,000 5,762 109,238 6.00% 3.4 years — 8% Convertible Senior Notes 100,000 5,170 94,830 8.00% 4.5 years — CRE - Term Repurchase Facilities (3) 174,928 1,204 173,724 2.24% 18 days 273,686 CMBS - Term Repurchase Facility (4) 29,929 — 29,929 1.38% 18 days 34,330 Residential Mortgage Financing Agreements 96,580 — 96,580 2.74% 62 days 128,465 CMBS - Short Term Repurchase Agreements (5) 77,171 — 77,171 1.71% 20 days 113,381 Senior Secured Revolving Credit Agreement 151,000 3,491 147,509 3.05% 2.2 years 327,681 Total $ 1,853,054 $ 25,593 $ 1,827,461 2.56% 10.6 years $ 2,335,628 Principal Outstanding Unamortized Issuance Costs and Discounts Outstanding Borrowings Weighted Average Borrowing Rate Weighted Average Remaining Maturity Value of Collateral As of December 31, 2014: RREF CDO 2006-1 Senior Notes $ 61,423 — $ 61,423 2.12% 31.6 years $ 139,242 RREF CDO 2007-1 Senior Notes 130,340 133 130,207 1.19% 31.8 years 271,423 RCC CRE Notes 2013 Senior Notes 226,840 2,683 224,157 2.11% 14.0 years 249,983 RCC 2014-CRE2 Senior Notes 235,344 3,687 231,657 1.45% 17.3 years 346,585 Apidos CDO III Senior Notes 74,646 — 74,646 1.18% 5.7 years 85,553 Apidos Cinco CDO Senior Notes 255,664 201 255,463 0.81% 5.4 years 272,512 Moselle CLO S.A. Senior Notes, at fair value (6) 63,321 — 63,321 1.49% 5.0 years 93,576 Moselle CLO S.A. Securitized Borrowings, at fair value (1) 5,619 — 5,619 1.49% 5.0 years — Unsecured Junior Subordinated Debentures (2) 51,548 343 51,205 4.19% 21.8 years — 6.0% Convertible Senior Notes 115,000 6,626 108,374 6.00% 3.9 years — CRE - Term Repurchase Facilities (3) 207,640 1,958 205,682 2.43% 20 days 297,571 CMBS - Term Repurchase Facility (4) 24,967 — 24,967 1.35% 20 days 30,180 Residential Investments - Term Repurchase Facility (6) 22,248 36 22,212 1.16% 1 day 27,885 Residential Mortgage Financing Agreements (7) 102,576 — 102,576 2.78% 207 days 147,472 CMBS - Short Term Repurchase Agreements (5) 44,225 — 44,225 1.63% 17 days 62,446 Senior Secured Revolving Credit Agreement 113,500 2,363 111,137 2.66% 2.7 years 262,687 Total $ 1,734,901 $ 18,030 $ 1,716,871 2.09% 10.0 years $ 2,287,115 (1) The securitized borrowings were collateralized by the same assets as the Moselle CLO Senior Notes. (2) Amount represents junior subordinated debentures issued to RCT I and RCT II in May 2006 and September 2006, respectively. (3) Amounts also include accrued interest expense of $187,000 and $198,000 related to CRE repurchase facilities as of June 30, 2015 and December 31, 2014 , respectively. (4) Amounts also include accrued interest expense of $13,000 and $12,000 related to CMBS repurchase facilities as of June 30, 2015 and December 31, 2014 , respectively. Amounts do not reflect CMBS repurchase agreement borrowings that are components of linked transactions as of December 31, 2014 . (5) Amounts also includes accrued interest expense of $39,000 and $31,000 related to CMBS short term repurchase facilities as of June 30, 2015 and December 31, 2014 . (6) The fair value option was elected for the borrowings associated with Moselle CLO. As such, the outstanding borrowings and principal outstanding amounts are stated at fair value. The unpaid principal amounts of these borrowings were $63.3 million at December 31, 2014 (7) Amounts also includes interest expense of $20,000 related to residential investment repurchase facilities as of December 31, 2014 .
Schedule of Securitizations	The following table sets forth certain information with respect to RSO's securitizations: Securitization Closing Date Maturity Dates Reinvestment Total Note (in millions) RREF CDO 2006-1 Senior Notes August 2006 August 2046 September 2011 $ 194.2 RREF CDO 2007-1 Senior Notes June 2007 September 2046 June 2012 $ 215.9 RCC CRE Notes 2013 Senior Notes December 2013 December 2028 N/A $ 112.7 RCC 2014-CRE2 Senior Notes July 2014 April 2032 N/A $ — RCC 2015-CRE3 Senior Notes February 2015 March 2032 N/A $ — Apidos CDO III Senior Notes May 2006 September 2020 June 2012 $ 262.5 Apidos Cinco CDO Senior Notes May 2007 May 2020 May 2014 $ 113.1 Moselle CLO S.A. Securitized Borrowings October 2005 January 2020 January 2012 $ 5.0
Schedule of Short-term Debt	The following table sets forth certain information with respect to RSO's borrowings (dollars in thousands): As of June 30, 2015 As of December 31, 2014 Outstanding Borrowings Value of Collateral Number of Positions as Collateral Weighted Average Interest Rate Outstanding Borrowings Value of Collateral Number of Positions as Collateral Weighted Average Interest Rate CMBS Term Repurchase Facility Wells Fargo Bank $ 29,929 $ 34,330 35 1.38% $ 24,967 $ 30,180 33 1.35% CRE Term Repurchase Facilities Wells Fargo Bank (1) 173,745 273,686 13 2.24% 179,762 258,223 15 2.38% Deutsche Bank AG (2) (21 ) — —% 25,920 39,348 2 2.78% Short-Term Repurchase Agreements - CMBS Deutsche Bank Securities, LLC 24,114 37,707 4 1.64% 33,783 44,751 8 1.62% Wells Fargo Securities, LLC 53,057 75,674 20 1.72% 10,442 17,695 1 1.66% Residential Investment Term Repurchase Facility Wells Fargo Bank (3) — — — —% 22,212 27,885 6 1.16% Residential Mortgage Financing Agreements New Century Bank 40,313 46,849 195 2.73% 41,387 51,961 158 2.82% Wells Fargo Bank 56,267 81,616 170 2.75% 61,189 95,511 104 2.75% Totals $ 377,404 $ 549,862 $ 399,662 $ 565,554 (1) The Wells Fargo CRE term repurchase facility borrowing includes $1.2 million and $1.7 million of deferred debt issuance costs as of June 30, 2015 and December 31, 2014 , respectively. (2) The Deutsche Bank term repurchase facility includes $21,000 and $268,000 of deferred debt issuance costs as of June 30, 2015 and December 31, 2014 , respectively. (3) The Wells Fargo resident investments term repurchase facility includes $36,000 of deferred debt issuance costs as of
Schedule of Linked Transactions	The assets in the following table were accounted for as linked transactions as of December 31, 2014 (in thousands). These linked repurchase agreements are not included in borrowings on RSO consolidated balance sheets. As of December 31, 2014 Borrowings (1) Value of Collateral Number Weighted Average CMBS Term Repurchase Facility Wells Fargo Bank $ 4,941 $ 6,371 7 1.67% Short-Term Repurchase JP Morgan Securities, LLC — — — —% Wells Fargo Securities, LLC 4,108 6,233 2 1.37% Deutsche Bank Securities, LLC 24,348 36,001 10 1.57% Totals $ 33,397 $ 48,605
Schedule of Amount at Risk under Credit Facility	The following table shows information about the amount at risk under the repurchase facilities (dollars in thousands): Amount at Risk (1) Weighted Average Maturity in Days Weighted Average Interest Rate As of June 30, 2015: CMBS Term Repurchase Facility Wells Fargo Bank, National Association $ 4,024 18 1.38% CRE Term Repurchase Facilities Wells Fargo Bank, National Association $ 99,791 18 2.24% Short-Term Repurchase Agreements - CMBS Wells Fargo Securities, LLC $ 13,236 11 1.64% Deutsche Bank Securities, LLC $ 22,784 24 1.72% Residential Mortgage Financing Agreements Wells Fargo Bank $ 25,349 62 2.75% New Century Bank $ 6,537 61 2.73% As of December 31, 2014: CMBS Term Repurchase Facility Wells Fargo Bank, National Association $ 6,486 20 1.35% Residential Investment Term Repurchase Facility Wells Fargo Bank, National Association $ 5,017 1 1.16% CRE Term Repurchase Facilities Wells Fargo Bank, National Association $ 76,148 20 2.38% Deutsche Bank Securities, LLC $ 13,017 19 2.78% Short-Term Repurchase Agreements - CMBS Wells Fargo Securities, LLC $ 2,127 9 1.66% Deutsche Bank Securities, LLC $ 11,810 20 1.62% Residential Mortgage Financing Agreements New Century Bank $ 853 242 2.82% Wells Fargo Bank $ 6,902 183 2.75% (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.
Company's Asset Recorded at Fair Value on Recurring Basis	The following table presents information about RSO’s assets and liabilities 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 As of June 30, 2015: Assets: Investment securities, trading $ — $ — $ 32,680 $ 32,680 Investment securities available-for-sale — 4,865 248,563 253,428 Loans held for sale — 64,751 40,343 105,094 Derivatives (net) — 1,275 3,014 4,289 Total assets at fair value $ — $ 70,891 $ 324,600 $ 395,491 Liabilities: Derivatives (net) $ — $ (355 ) $ (6,636 ) $ (6,991 ) Total liabilities at fair value $ — $ (355 ) $ (6,636 ) $ (6,991 ) As of December 31, 2014: Assets: Investment securities, trading $ — $ — $ 20,786 $ 20,786 Investment securities available-for-sale — 33,158 242,562 275,720 CMBS - linked transactions — — 15,367 15,367 Derivatives (net) 3,429 7 1,868 5,304 Total assets at fair value $ 3,429 $ 33,165 $ 280,583 $ 317,177 Liabilities: Moselle CLO Notes $ — $ — $ 68,940 $ 68,940 Derivatives (net) $ — $ — $ 8,476 $ 8,476 Total liabilities at fair value $ — $ — $ 77,416 $ 77,416
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 are measured at fair value on a recurring basis for which RSO has utilized Level 3 inputs (in thousands): CMBS Including Linked Transactions ABS Structured Finance Securities Warrant Interest Rate Lock Commitments Loans Held for Sale Total Beginning balance, $ 185,772 $ 72,157 $ 20,786 $ 898 $ 970 $ 83,380 $ 363,963 Included in earnings 849 4,226 1,673 76 19,135 (1,186 ) 24,773 Unlined transactions 33,239 — — — — — 33,239 Purchases/Originations 7,219 10,350 19,264 — — 80,517 117,350 Sales — (5,594 ) (9,339 ) — — (122,269 ) (137,202 ) Paydowns (41,706 ) (3,208 ) (488 ) — — (99 ) (45,501 ) Issuances — — — — — — — Settlements — (11,216 ) — — (18,065 ) — (29,281 ) Included in OCI (51 ) (7,345 ) 784 — — — (6,612 ) Transfers into Level 3 — 3,872 — — — — 3,872 Ending balance, June 30, 2015 $ 185,322 $ 63,242 $ 32,680 $ 974 $ 2,040 $ 40,343 $ 324,601
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents additional information about liabilities that are measured at fair value on a recurring basis for which RSO has utilized Level 3 inputs (in thousands): Interest rate swaps Beginning balance, January 1, 2015 $ 8,680 Unrealized gains - included in accumulated other comprehensive income (2,237 ) Included in earnings (134 ) Ending balance, June 30, 2015 $ 6,309
Changes in Carrying Value of Assets and Liabilities Measured at Fair Value on Non-recurring 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 As of June 30, 2015: Assets : Loans held for sale $ — $ 6,028 $ — $ 6,028 Impaired loans — 2,223 — 2,223 Total assets at fair value $ — $ 8,251 $ — $ 8,251 As of December 31, 2014: Assets : Loans held for sale $ — $ 36,956 $ — $ 36,956 Impaired loans — 1,678 137,811 139,489 Total assets at fair value $ — $ 38,634 $ 137,811 $ 176,445
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques	For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of June 30, 2015 , the significant unobservable inputs used in the fair value measurements were as follows (in thousands): Fair Value at Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Interest rate swap agreements $ 6,300 Discounted cash flow Weighted average credit spreads 4.55 %
Fair Value of Financial Instruments	The fair values of RSO’s remaining financial instruments that are not reported at fair value on their consolidated balance sheets are reported in the following table (in thousands): Fair Value Measurements Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets of Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of June 30, 2015: Loans held-for-investment $ 2,042,885 $ 2,030,262 $ — $ 508,407 $ 1,521,855 CDO notes $ 1,047,172 $ 929,970 $ — $ — $ 929,970 Junior subordinated notes $ 51,308 $ 17,802 $ — $ — $ 17,802 Convertible notes $ 204,068 $ 204,068 $ — $ — $ 204,068 Repurchase agreements $ 377,404 $ 377,404 $ — $ — $ 377,404 Senior secured revolving credit agreement $ 147,509 $ 147,509 $ — $ — $ 147,509 As of December 31, 2014: Loans held-for-investment $ 1,925,980 $ 1,909,019 $ — $ 570,071 $ 1,338,948 Loans receivable-related party $ 558 $ 558 $ — $ — $ 558 CDO notes $ 1,046,493 $ 975,762 $ — $ — $ 975,762 Junior subordinated notes $ 51,205 $ 17,699 $ — $ — $ 17,699 Convertible notes $ 108,374 $ 108,374 $ — $ — $ 108,374 Repurchase agreements $ 399,662 $ 399,662 $ — $ — $ 399,662 Senior secured revolving credit agreement $ 111,137 $ 111,137 $ — $ — $ 111,137

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details) $ in Millions	Jul. 02, 2015USD ($)	Apr. 17, 2012USD ($)	Nov. 16, 2011shares	Jun. 30, 2015PartnershipcompanyTenant_in_CommonEntity	Dec. 31, 2014Entity
Variable Interest Entity [Line Items]
Preferred equity interest retained as a percentage of incentive management fees				75.00%
Resource Capital Partners Inc [Member]
Variable Interest Entity [Line Items]
Number of Tenant in Common Programs, Capital Improvements | Tenant_in_Common				6
Number of Limited Liability Corporation | company				1
Resource Financial Institutions Group, Inc. [Member]
Variable Interest Entity [Line Items]
Number of Partnerships in Which the Company Serves as General Partner				7
LEAF Financial Corporation [Member]
Variable Interest Entity [Line Items]
Number of Real Estate Investments Managed by Related Parties | Entity				2	2
Parent Company [Member]
Variable Interest Entity [Line Items]
Proceeds from Divestiture of Interest in Consolidated Subsidiaries | $		$ 25
Number of shares retained by the entity | shares			18,414
Fully Diluted Potential Percentage Of Interest In Entity From Warrants			15.70%	13.20%
LEAF Senior Management [Member]
Variable Interest Entity [Line Items]
Fully Diluted Potential Percentage Of Interest In Entity From Warrants			10.00%	8.30%
Real Estate Limited Partnership [Member] | Resource Capital Partners Inc [Member]
Variable Interest Entity [Line Items]
Number of Partnerships in Which the Company Serves as General Partner				8
CVC Credit Partners, L.P. [Member]
Variable Interest Entity [Line Items]
Irrevocable Option to Buy Interests in Joint Venture, Percentage				9.00%
Limited Partner [Member] | CVC Credit Partners, L.P. [Member] | Parent Company [Member]
Variable Interest Entity [Line Items]
Percentage interest in limited partnership formed		33.00%
General Partner [Member] | Parent Company [Member]
Variable Interest Entity [Line Items]
Preferred equity interest retained as a percentage of incentive management fees		75.00%
General Partner [Member] | CVC Credit Partners, L.P. [Member] | Parent Company [Member]
Variable Interest Entity [Line Items]
Percentage Interest In General Partnership Formed		33.00%
Subsequent Event [Member] | Limited Partner [Member] | CVC Credit Partners, L.P. [Member] | Parent Company [Member]
Variable Interest Entity [Line Items]
Proceeds from Divestiture of Interest in Consolidated Subsidiaries | $	$ 4.9
Percentage interest in limited partnership formed	24.00%
Irrevocable Option to Buy Interests in Joint Venture, Percentage	9.00%

CONSOLIDATING FINANCIAL INFOR47

CONSOLIDATING FINANCIAL INFORMATION (Consolidating Balance Sheet) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Assets:
Loans and receivables from managed entities and related parties, net	$ 26,520	$ 30,303
Investments in real estate, net	17,040	17,097
Investment securities, at fair value	10,870	9,540
Investments in unconsolidated entities	16,884	13,089
Assets of consolidated variable interest entity (VIE)-RSO (see Note 19):
Total assets	2,942,705	2,900,382	$ 2,723,446
Liabilities:
Payables to managed entities and related parties	4,748	3,015
Borrowings	21,029	20,412
Liabilities of consolidated VIE-RSO:
Borrowings	21,029	20,412
Total liabilities	1,926,451	1,819,939
Preferred stock	0	0
Common stock	338	335
Additional paid-in capital	309,736	308,134
Accumulated deficit	(27,643)	(23,663)
Treasury stock, at cost	(124,736)	(120,182)
Accumulated other comprehensive loss	(915)	(1,030)
Total stockholders’ equity	156,780	163,594
Total equity	1,016,254	1,080,443
Total liabilities and equity	2,942,705	2,900,382
Reportable Legal Entities [Member]
Assets of consolidated variable interest entity (VIE)-RSO (see Note 19):
Total assets	168,481		165,278
Consolidation, Eliminations [Member]
Assets of consolidated variable interest entity (VIE)-RSO (see Note 19):
Total assets	(32,581)
Liabilities of consolidated VIE-RSO:
Total liabilities	(2,142)
Total equity	(30,439)
Total liabilities and equity	(32,581)
RAI [Member]
Assets:
Restricted cash	886	725
Receivables	1,061	636
Loans and receivables from managed entities and related parties, net	26,520	30,303
Investments in real estate, net	17,040	17,097
Investment securities, at fair value	10,870	9,540
Investments in unconsolidated loan manager	36,526	39,655
Investments in unconsolidated entities	16,884	13,089
Assets of consolidated variable interest entity (VIE)-RSO (see Note 19):
Property and equipment, net	5,622	5,063
Deferred tax assets, net	20,920	23,304
Other assets	8,392	5,416
Liabilities:
Accrued expenses and other liabilities	21,241	22,279
Payables to managed entities and related parties	4,748	3,015
Borrowings	21,029	20,412
Liabilities of consolidated VIE-RSO:
Borrowings	21,029	20,412
Preferred stock	0
Common stock	338
Additional paid-in capital	309,736
Accumulated deficit	(27,643)
Treasury stock, at cost	(124,736)
Accumulated other comprehensive loss	(915)
Total stockholders’ equity	156,780
Noncontrolling interests	376	306
RAI [Member] | Reportable Legal Entities [Member]
Assets:
Restricted cash	886
Receivables	1,181
Loans and receivables from managed entities and related parties, net	28,874
Investments in real estate, net	17,040
Investment securities, at fair value	21,944
Investments in unconsolidated loan manager	36,526
Investments in unconsolidated entities	24,883
Assets of consolidated variable interest entity (VIE)-RSO (see Note 19):
Property and equipment, net	5,622
Deferred tax assets, net	31,954
Other assets	8,392
Total assets	201,062
Liabilities:
Accrued expenses and other liabilities	21,241
Payables to managed entities and related parties	4,748
Borrowings	21,029
Liabilities of consolidated VIE-RSO:
Borrowings	21,029
Total liabilities	47,018
Preferred stock	0
Common stock	338
Additional paid-in capital	309,736
Accumulated deficit	(18,369)
Treasury stock, at cost	(124,736)
Accumulated other comprehensive loss	(13,301)
Total stockholders’ equity	153,668
Noncontrolling interests	376
Total equity	154,044
Total liabilities and equity	201,062
RAI [Member] | Consolidation, Eliminations [Member]
Assets:
Restricted cash	0
Receivables	(120)
Loans and receivables from managed entities and related parties, net	(2,354)
Investments in real estate, net	0
Investment securities, at fair value	(11,074)
Investments in unconsolidated loan manager	0
Investments in unconsolidated entities	(7,999)
Assets of consolidated variable interest entity (VIE)-RSO (see Note 19):
Property and equipment, net	0
Deferred tax assets, net	(11,034)
Other assets	0
Liabilities:
Accrued expenses and other liabilities	0
Payables to managed entities and related parties	0
Borrowings	0
Liabilities of consolidated VIE-RSO:
Borrowings	0
Preferred stock	0
Common stock	0
Additional paid-in capital	0
Accumulated deficit	(9,274)
Treasury stock, at cost	0
Accumulated other comprehensive loss	12,386
Total stockholders’ equity	3,112
Noncontrolling interests	0
RSO [Member]
Assets:
Investment securities, at fair value	286,108	296,506
Assets of consolidated variable interest entity (VIE)-RSO (see Note 19):
Cash and cash equivalents (including restricted cash)	190,765	202,043
Loans	2,154,007	2,039,655
Investments in real estate and unconsolidated entities	56,330	60,007
Other assets	87,014	129,801
Total assets	2,774,224		$ 2,558,168
Liabilities:
Borrowings	1,827,793	1,717,132
Liabilities of consolidated VIE-RSO:
Borrowings	1,827,793	1,717,132
Other liabilities	51,640	57,101
Total liabilities	1,879,433
Noncontrolling interests	859,098	$ 916,543
RSO [Member] | Reportable Legal Entities [Member]
Assets:
Investment securities, at fair value	286,108
Assets of consolidated variable interest entity (VIE)-RSO (see Note 19):
Cash and cash equivalents (including restricted cash)	190,765
Loans	2,154,007
Investments in real estate and unconsolidated entities	56,330
Other assets	87,014
Total assets	2,774,224
Liabilities:
Borrowings	1,827,461
Liabilities of consolidated VIE-RSO:
Borrowings	1,827,461
Other liabilities	54,114
Total liabilities	1,881,575
Noncontrolling interests	892,649
Total equity	892,649
Total liabilities and equity	2,774,224
RSO [Member] | Consolidation, Eliminations [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	0
Investments in real estate and unconsolidated entities	0
Other assets	0
Total assets	0
Liabilities:
Borrowings	332
Liabilities of consolidated VIE-RSO:
Borrowings	332
Other liabilities	(2,474)
Total liabilities	(2,142)
Noncontrolling interests	$ (33,551)

CONSOLIDATING FINANCIAL INFOR48

CONSOLIDATING FINANCIAL INFORMATION (Consolidating Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
REVENUES:
Revenues from external customers	$ 45,996	$ 42,335	$ 88,185	$ 84,951
COSTS AND EXPENSES:
General and administrative	4,181	2,729	7,478	5,883
Provision for credit losses	276	1,575	678	2,783
Depreciation and amortization	515	465	972	916
Costs and expenses	71,833	30,576	108,749	57,222
OPERATING INCOME (LOSS)	(25,837)	11,759	(20,564)	27,729
Impairment on investment in unconsolidated entities	(4,346)		(4,346)
Interest expense	(455)	(497)	(876)	(980)
Other income (expense), net	10,772	10,310	27,135	14,009
Total other revenue (expense)	5,971	10,183	21,913	13,399
Income (loss) from continuing operations before taxes	(19,866)	21,942	1,349	41,128
Income tax provision (benefit)	3,775	1,735	6,866	2,820
Net income (loss)	(23,641)	20,207	(5,517)	38,308
Net income (loss) attributable to common shareholders	(1,652)	2,718	(1,315)	3,708
Reportable Legal Entities [Member]
REVENUES:
Revenues from external customers	(4,104)
COSTS AND EXPENSES:
Costs and expenses	(3,368)
Intersegment Eliminations [Member]
REVENUES:
Revenues from external customers	(4,104)	(3,040)	(8,377)	(5,920)
COSTS AND EXPENSES:
Costs and expenses	(3,368)	(3,053)	(6,736)	(5,872)
Other income (expense), net	4
Total other revenue (expense)		11	15	29
Consolidation, Eliminations [Member]
REVENUES:
Revenues from external customers	(4,104)	(3,040)	(8,377)	(5,920)
COSTS AND EXPENSES:
General and administrative	0	0	0	0
Provision for credit losses	0	0	0	0
Depreciation and amortization	0	0	0	0
Costs and expenses	(3,368)	(3,053)	(6,736)	(5,872)
OPERATING INCOME (LOSS)	(736)	13	(1,641)	(48)
Impairment on investment in unconsolidated entities	0		0
Interest expense	0	0	0	0
Other income (expense), net	(454)	(561)	(921)	(1,115)
Total other revenue (expense)	(454)	(561)	(921)	(1,115)
Income (loss) from continuing operations before taxes	(1,190)	(548)	(2,562)	(1,163)
Income tax provision (benefit)	0	0	0	0
Net income (loss)	(1,190)	(548)	(2,562)	(1,163)
Net income (loss) attributable to common shareholders	29,158	(14,928)	18,559	(30,350)
RAI [Member]
REVENUES:
Real estate	21,116	13,448	38,082	26,723
Financial fund management	4,781	8,141	9,918	15,216
Commercial finance	2	(42)	0	(141)
Revenues from external customers	25,899	21,547	48,000	41,798
COSTS AND EXPENSES:
Real estate	12,082	9,105	23,581	17,980
Financial fund management	3,154	2,779	6,144	7,168
Commercial finance	458	123	1,037	226
General and administrative	4,181	2,729	7,478	5,883
Provision for credit losses	276	1,575	678	2,783
Depreciation and amortization	515	465	972	916
Costs and expenses	20,666	16,776	39,890	34,956
Impairment on investment in unconsolidated entities	(4,346)	0	(4,346)	0
Gain (loss) on sale of investment securities, net	0	(370)	0	(370)
Interest expense	(455)	(497)	(876)	(980)
Other income (expense), net	231	18	67	183
Income tax provision (benefit)	857	2,181	2,101	3,250
Net (income) loss attributable to noncontrolling interests	(63)	(84)	(55)	(44)
RAI [Member] | Reportable Legal Entities [Member]
REVENUES:
Real estate	21,116	13,448	38,082	26,723
Financial fund management	4,781	8,141	9,918	15,216
Commercial finance	2	(42)	0	(141)
Revenues from external customers	25,899	21,547	48,000	41,798
COSTS AND EXPENSES:
Real estate	12,082	9,105	23,581	17,980
Financial fund management	3,154	2,779	6,144	7,168
Commercial finance	458	123	1,037	226
General and administrative	4,181	2,729	7,478	5,883
Provision for credit losses	276	1,575	678	2,783
Depreciation and amortization	515	465	972	916
Costs and expenses	20,666	16,776	39,890	34,956
OPERATING INCOME (LOSS)	5,233	4,771	8,110	6,842
Impairment on investment in unconsolidated entities	(4,346)		(4,346)	0
Gain (loss) on sale of investment securities, net		(370)		(370)
Interest expense	(455)	(497)	(876)	(980)
Other income (expense), net	689	590	1,003	1,327
Total other revenue (expense)	(4,112)	463	(4,219)	717
Income (loss) from continuing operations before taxes	1,121	5,234	3,891	7,559
Income tax provision (benefit)	857	2,181	2,101	3,250
Net income (loss)	264	3,053	1,790	4,309
Net (income) loss attributable to noncontrolling interests	(63)	(84)	(55)	(44)
Net income (loss) attributable to common shareholders	201	2,969	1,735	4,265
RAI [Member] | Consolidation, Eliminations [Member]
COSTS AND EXPENSES:
Interest expense		0
Other income (expense), net	(458)	(572)	(936)	(1,144)
RSO [Member]
REVENUES:
Real estate	2,751	2,302	5,503	4,985
Financial fund management	617	753	1,233	960
Revenues from external customers	24,201	23,828	48,562	49,073
COSTS AND EXPENSES:
Costs and expenses		16,853	75,595	28,138
Expenses of consolidated VIE - RSO	54,535		75,595	28,138
Other income (expense), net	10,537	10,281	27,053	13,797
Income tax provision (benefit)	2,918	(446)	4,765	(430)
Net (income) loss attributable to noncontrolling interests	22,052	(17,405)	4,257	(34,556)
RSO [Member] | Reportable Legal Entities [Member]
REVENUES:
Revenues from external customers	24,201	23,828	48,562	49,073
COSTS AND EXPENSES:
General and administrative	0	0	0	0
Provision for credit losses	0	0	0	0
Depreciation and amortization	0	0	0	0
Costs and expenses	54,535	16,853	75,595	28,138
Expenses of consolidated VIE - RSO			75,595	28,138
OPERATING INCOME (LOSS)	(30,334)	6,975	(27,033)	20,935
Impairment on investment in unconsolidated entities	0		0
Interest expense	0	0	0	0
Other income (expense), net	10,537	10,281	27,053	13,797
Total other revenue (expense)	10,537	10,281	27,053	13,797
Income (loss) from continuing operations before taxes	(19,797)	17,256	20	34,732
Income tax provision (benefit)	2,918	(446)	4,765	(430)
Net income (loss)	(22,715)	17,702	(4,745)	35,162
Net (income) loss attributable to noncontrolling interests	(8,296)	(3,025)	(16,864)	(5,369)
Net income (loss) attributable to common shareholders	(31,011)	$ 14,677	(21,609)	29,793
RSO [Member] | Consolidation, Eliminations [Member]
COSTS AND EXPENSES:
Costs and expenses
Expenses of consolidated VIE - RSO	0		0	0
Net (income) loss attributable to noncontrolling interests	$ 30,348	$ (14,380)	$ 21,121	$ (29,187)

CONSOLIDATING FINANCIAL INFOR49

CONSOLIDATING FINANCIAL INFORMATION (Consolidating Statements of Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (23,641)	$ 20,207	$ (5,517)	$ 38,308
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization			1,004
Provision for credit losses	276	1,575	678	2,783
Unrealized (gains) losses on trading securities			(42)
Equity in earnings (losses) of unconsolidated entities	(2,897)	(1,047)	(4,741)	(1,678)
Distributions from unconsolidated entities			4,998
Net impairment losses recognized in earnings	4,346		4,346
(Gain) loss on trading securities			(15)
(Gain) loss on sales of leases and loans			(5)
Deferred income tax provision (benefit)			2,052
Equity-based compensation issued			1,604
Foreign currency adjustments			284
Trading securities purchases and sales, net			221
Changes in operating assets and liabilities			153
Net cash provided by (used in) operating activities			(12,491)	49,853
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures			(352)
Principal payments on leases and loans			5
Investments in real estate and unconsolidated real estate entities			(3,295)
Purchase of loans and investments			(2,687)
Net cash provided by (used in) investing activities			(2,527)	(211,988)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on borrowings			0
Dividends paid			(2,622)
Proceeds from issuance of common stock			1
Net cash provided by (used in) financing activities			11,236	154,140
Decrease in cash			(3,782)	(7,995)
Cash, beginning of year			27,542	19,853
Cash, end of period	23,760	11,858	23,760	11,858
Consolidation, Eliminations [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	(1,190)	(548)	(2,562)	(1,163)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization			0
Provision for credit losses	0	0	0	0
Equity in earnings (losses) of unconsolidated entities	734	0	1,555	0
Distributions from unconsolidated entities			0
Net impairment losses recognized in earnings	0		0
(Gain) loss on sales of leases and loans			0
Deferred income tax provision (benefit)			0
Equity-based compensation issued			0
Trading securities purchases and sales, net			0
Changes in operating assets and liabilities			0
Adjustments to reconcile net income and operating cash flows to net income of consolidated VIE-RSO			(29)
Net cash provided by (used in) operating activities			(1,036)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures			0
Investments in real estate and unconsolidated real estate entities			0
Purchase of loans and investments			0
Principal payments and proceeds from sales of loans and securities by consolidated VIE-RSO			0
Increase (decrease) in restricted cash of consolidated VIE-RSO			0
Other investing activity of consolidated VIE-RSO			(821)
Net cash provided by (used in) investing activities			(821)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on borrowings			821
Net borrowings of debt by consolidated VIE-RSO			0
Dividends paid			0
Dividends paid on common stock by consolidated VIE-RSO			936
Proceeds from issuance of common stock			0
Other financing activity of consolidated VIE - RSO			100
Net cash provided by (used in) financing activities			1,857
Decrease in cash			0
Cash, beginning of year			0
Cash, end of period	0		0
RAI [Member]
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization			1,004	992
Provision for credit losses	276	1,575	678	2,783
Unrealized (gains) losses on trading securities	(22)	(192)	(42)	(120)
Equity in earnings (losses) of unconsolidated entities			(4,741)	(1,678)
Distributions from unconsolidated entities			4,998	3,805
Net impairment losses recognized in earnings	4,346	0	4,346	0
(Gain) loss on trading securities			15	(832)
(Gain) loss on sales of leases and loans			5	0
Deferred income tax provision (benefit)			2,052	3,250
Equity-based compensation issued			1,604	845
Foreign currency adjustments			(284)	0
Trading securities purchases and sales, net			221	(3,154)
Changes in operating assets and liabilities			153	(12,605)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures			(352)	(176)
Principal payments on leases and loans			(5)	2
Investments in real estate and unconsolidated real estate entities			(3,295)	(1,194)
Purchase of loans and investments			(2,687)	(1,318)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on borrowings			0	(2,706)
Dividends paid			(2,622)	(1,964)
Proceeds from issuance of common stock			1	1,550
Cash, beginning of year			27,542
Cash, end of period	23,760		23,760
RAI [Member] | Reportable Legal Entities [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	264	3,053	1,790	4,309
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization			1,004
Provision for credit losses	276	1,575	678	2,783
Unrealized (gains) losses on trading securities			(42)
Equity in earnings (losses) of unconsolidated entities	(3,631)	(1,047)	(6,296)	(1,678)
Distributions from unconsolidated entities			4,998
Net impairment losses recognized in earnings	4,346		4,346	0
(Gain) loss on trading securities			(15)
(Gain) loss on sales of leases and loans			(5)
Deferred income tax provision (benefit)			2,052
Equity-based compensation issued			1,604
Foreign currency adjustments			284
Trading securities purchases and sales, net			221
Changes in operating assets and liabilities			153
Adjustments to reconcile net income and operating cash flows to net income of consolidated VIE-RSO			0
Net cash provided by (used in) operating activities			10,802
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures			(352)
Principal payments on leases and loans			5
Investments in real estate and unconsolidated real estate entities			(3,295)
Purchase of loans and investments			(2,687)
Principal payments and proceeds from sales of loans and securities by consolidated VIE-RSO			0
Increase (decrease) in restricted cash of consolidated VIE-RSO			0
Other investing activity of consolidated VIE-RSO			0
Net cash provided by (used in) investing activities			(6,329)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on borrowings			(821)
Net borrowings of debt by consolidated VIE-RSO			0
Dividends paid			(2,622)
Dividends paid on common stock by consolidated VIE-RSO			0
Proceeds from issuance of common stock			1
Net cash provided by (used in) financing activities			(8,255)
Decrease in cash			(3,782)
Cash, beginning of year			27,542
Cash, end of period	23,760		23,760
RAI [Member] | Consolidation, Eliminations [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash, end of period	0		0
RSO [Member]
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Adjustments to reconcile net income and operating cash flows to net income of consolidated VIE-RSO			(17,541)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of loans and investments			(447,760)	(597,139)
Principal payments and proceeds from sales of loans and securities by consolidated VIE-RSO			390,488	367,437
Increase (decrease) in restricted cash of consolidated VIE-RSO			57,089	10,543
Other investing activity of consolidated VIE-RSO			3,985	9,140
CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings of debt by consolidated VIE-RSO			84,283	48,965
Dividends paid on common stock by consolidated VIE-RSO			(47,070)	(50,313)
Proceeds from issuance of common stock			3,159	163,319
Other financing activity of consolidated VIE - RSO			(21,702)	(5,044)
RSO [Member] | Reportable Legal Entities [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	(22,715)	17,702	(4,745)	35,162
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization			0
Provision for credit losses	0	0	0	0
Unrealized (gains) losses on trading securities			0
Equity in earnings (losses) of unconsolidated entities	0	$ 0	0	$ 0
Distributions from unconsolidated entities			0
Net impairment losses recognized in earnings	0		0
(Gain) loss on sales of leases and loans			0
Deferred income tax provision (benefit)			0
Equity-based compensation issued			0
Trading securities purchases and sales, net			0
Changes in operating assets and liabilities			0
Adjustments to reconcile net income and operating cash flows to net income of consolidated VIE-RSO			(17,512)
Net cash provided by (used in) operating activities			(22,257)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures			0
Investments in real estate and unconsolidated real estate entities			0
Purchase of loans and investments			(447,760)
Principal payments and proceeds from sales of loans and securities by consolidated VIE-RSO			390,488
Increase (decrease) in restricted cash of consolidated VIE-RSO			57,089
Other investing activity of consolidated VIE-RSO			4,806
Net cash provided by (used in) investing activities			4,623
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on borrowings			0
Net borrowings of debt by consolidated VIE-RSO			84,283
Dividends paid			0
Dividends paid on common stock by consolidated VIE-RSO			(48,006)
Proceeds from issuance of common stock			3,159
Other financing activity of consolidated VIE - RSO			(21,802)
Net cash provided by (used in) financing activities			17,634
Decrease in cash			0
Cash, beginning of year			0
Cash, end of period	$ 0		$ 0

SUPPLEMENTAL CASH FLOW INFORM50

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash (paid) received:
Interest	$ (948)	$ (828)
Income tax payments	(1,088)	(916)
Refund of income taxes	$ 52	$ 48
Dividends declared per common share	$ 0.12	$ 0.10
Non-cash activities:
Repurchase of common stock from employees in exchange for the payment of income taxes	$ 173	$ 255
Purchase of equipment on capital leases	881	0
Issuance of treasury stock for the Company's investment savings 401(k) plan	$ 271	$ 306

FINANCING RECEIVABLES (Past Due

FINANCING RECEIVABLES (Past Due Financing Receivables) (Details)	Jun. 30, 2015USD ($)Entity	Dec. 31, 2014USD ($)Entity
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Current	$ 8,035,000	$ 10,305,000
Total Past Due	36,329,000	37,076,000
Total	$ 44,364,000	47,381,000
Number of commercial finance investment entities that are not expected to be collectible | Entity	1
Commercial finance investment entities [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Current	$ 2,000	9,000
Total Past Due	19,809,000	19,864,000
Total	19,811,000	19,873,000
Allowance for credit losses, commercial finance	$ 17,400,000	$ 17,000,000
Number of commercial finance investment entities that are not expected to be collectible | Entity	1	1
Real Estate Limited Partnership [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Allowance for credit losses, commercial finance	$ 307,000	$ 0
Number of commercial finance investment entities that are not expected to be collectible | Entity	1
Real estate investment entities [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Current	$ 4,067,000	6,613,000
Total Past Due	16,432,000	17,120,000
Total	20,499,000	23,733,000
Financial fund management entities [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Current	1,092,000	583,000
Total Past Due	77,000	80,000
Total	1,169,000	663,000
Other [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Current	2,706,000	3,024,000
Total Past Due	0	0
Total	2,706,000	3,024,000
Receivables from Managed Entities and Related Parties [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Current	7,867,000	10,229,000
Total Past Due	36,318,000	37,064,000
Total	44,185,000	47,293,000
Rent receivables - real estate [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Current	168,000	76,000
Total Past Due	11,000	12,000
Total	179,000	88,000
Financing Receivables, 30 to 89 Days Past Due [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	665,000	1,199,000
Financing Receivables, 30 to 89 Days Past Due [Member] | Commercial finance investment entities [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	341,000	342,000
Financing Receivables, 30 to 89 Days Past Due [Member] | Real estate investment entities [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	269,000	772,000
Financing Receivables, 30 to 89 Days Past Due [Member] | Financial fund management entities [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	47,000	74,000
Financing Receivables, 30 to 89 Days Past Due [Member] | Other [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	0	0
Financing Receivables, 30 to 89 Days Past Due [Member] | Receivables from Managed Entities and Related Parties [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	657,000	1,188,000
Financing Receivables, 30 to 89 Days Past Due [Member] | Rent receivables - real estate [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	8,000	11,000
Financing Receivables, 90 to 180 Days Past Due [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	2,248,000	2,339,000
Financing Receivables, 90 to 180 Days Past Due [Member] | Commercial finance investment entities [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	1,121,000	1,124,000
Financing Receivables, 90 to 180 Days Past Due [Member] | Real estate investment entities [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	1,094,000	1,214,000
Financing Receivables, 90 to 180 Days Past Due [Member] | Financial fund management entities [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	30,000	0
Financing Receivables, 90 to 180 Days Past Due [Member] | Other [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	0	0
Financing Receivables, 90 to 180 Days Past Due [Member] | Receivables from Managed Entities and Related Parties [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	2,245,000	2,338,000
Financing Receivables, 90 to 180 Days Past Due [Member] | Rent receivables - real estate [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	3,000	1,000
Financing Receivables, Greater than 181 Days Past Due [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	33,416,000	33,538,000
Financing Receivables, Greater than 181 Days Past Due [Member] | Commercial finance investment entities [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	18,347,000	18,398,000
Financing Receivables, Greater than 181 Days Past Due [Member] | Real estate investment entities [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	15,069,000	15,134,000
Financing Receivables, Greater than 181 Days Past Due [Member] | Financial fund management entities [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	0	6,000
Financing Receivables, Greater than 181 Days Past Due [Member] | Other [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	0	0
Financing Receivables, Greater than 181 Days Past Due [Member] | Receivables from Managed Entities and Related Parties [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	33,416,000	33,538,000
Financing Receivables, Greater than 181 Days Past Due [Member] | Rent receivables - real estate [Member]
Aging of the Company's past due financing receivables, gross of allowances for credit losses
Total Past Due	$ 0	$ 0

FINANCING RECEIVABLES (Allowanc

FINANCING RECEIVABLES (Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Activity in the allowance for credit losses of financing receivables [Roll Forward]
Allowance for losses at beginning of period	$ 17,360	$ 37,451	$ 16,990	$ 36,243	$ 36,243
Provision for (reversal) of credit losses	276	1,575	678	2,783
(Charge-offs) recoveries	31	(1)	(1)	(2)
Recoveries		5		6
Allowance for losses at end of period	17,667	39,030	17,667	39,030	16,990
Ending balance, individually evaluated for impairment	17,667	39,028	17,667	39,028
Ending balance, collectively evaluated for impairment	0	2	0	2
Allowance for losses at end of period	17,667	39,030	17,667	39,030	16,990
Ending balance, individually evaluated for impairment	44,185		44,185		47,293
Ending balance, collectively evaluated for impairment	179		179		88
Balance, end of period	44,364		44,364		47,381
Receivables from Managed Entities [Member]
Activity in the allowance for credit losses of financing receivables [Roll Forward]
Allowance for losses at beginning of period	17,359	37,441	16,990	36,229	36,229
Provision for (reversal) of credit losses	306	1,588	675	2,801
(Charge-offs) recoveries	0	(1)	0	(2)
Recoveries		0		0
Allowance for losses at end of period	17,665	39,028	17,665	39,028	16,990
Ending balance, individually evaluated for impairment	17,665	39,028	17,665	39,028
Ending balance, collectively evaluated for impairment	0	0	0	0
Allowance for losses at end of period	17,665	39,028	17,665	39,028	16,990
Ending balance, individually evaluated for impairment	44,185		44,185		47,293
Ending balance, collectively evaluated for impairment	0		0		0
Balance, end of period	44,185		44,185		47,293
Leases and Loans [Member]
Activity in the allowance for credit losses of financing receivables [Roll Forward]
Allowance for losses at beginning of period	0	0	0	0	0
Provision for (reversal) of credit losses	(31)	(5)	1	(6)
(Charge-offs) recoveries	31	0	(1)	0
Recoveries		5		6
Allowance for losses at end of period	0	0	0	0	0
Ending balance, individually evaluated for impairment	0	0	0	0
Ending balance, collectively evaluated for impairment	0	0	0	0
Allowance for losses at end of period	0	0	0	0	0
Rent Receivables [Member]
Activity in the allowance for credit losses of financing receivables [Roll Forward]
Allowance for losses at beginning of period	1	10	0	14	14
Provision for (reversal) of credit losses	1	(8)	2	(12)
(Charge-offs) recoveries	0	0	0	0
Recoveries		0		0
Allowance for losses at end of period	2	2	2	2	0
Ending balance, individually evaluated for impairment	2	0	2	0
Ending balance, collectively evaluated for impairment	0	2	0	2
Allowance for losses at end of period	2	$ 2	2	$ 2	0
Ending balance, individually evaluated for impairment	0		0		0
Ending balance, collectively evaluated for impairment	179		179		88
Balance, end of period	$ 179		$ 179		$ 88

FINANCING RECEIVABLES (Impaired

FINANCING RECEIVABLES (Impaired Financing Receivables) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Financing Receivables Without a Specific Valuation Allowance [Member]
Impaired financing receivables [Abstract]
Specific Allowance	$ 0	$ 0
Receivables from Managed Entities - Commercial Finance [Member] | Financing Receivables With a Specific Valuation Allowance [Member]
Impaired financing receivables [Abstract]
Net Balance	1,044,000	1,295,000
Unpaid Balance	18,402,000	18,285,000
Specific Allowance	17,358,000	16,990,000
Average Investment in Impaired Assets	18,420,000	$ 18,882,000
Real Estate Limited Partnership [Member] | Financing Receivables With a Specific Valuation Allowance [Member]
Impaired financing receivables [Abstract]
Net Balance	540,000
Unpaid Balance	849,000
Specific Allowance	307,000
Average Investment in Impaired Assets	606,000
Rent receivables - real estate [Member] | Financing Receivables With a Specific Valuation Allowance [Member]
Impaired financing receivables [Abstract]
Net Balance	0
Unpaid Balance	0
Specific Allowance	2,000
Average Investment in Impaired Assets	$ 0

INVESTMENTS IN REAL ESTATE (Inv

INVESTMENTS IN REAL ESTATE (Investments in Real Estate) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Properties owned, net of accumulated depreciation [Line Items]
Real Estate Investment Property, Net	$ 17,040		$ 17,040		$ 17,097
Rental income	1,700	$ 1,578	2,900	$ 2,517
Hotel property (Savannah, Georgia) [Member]
Properties owned, net of accumulated depreciation [Line Items]
Real Estate Investment Property, Net	10,041		10,041		10,110
Office building (Philadelphia, Pennsylvania) [Member]
Properties owned, net of accumulated depreciation [Line Items]
Real Estate Investment Property, Net	912		912		888
Total Properties Owned [Member]
Properties owned, net of accumulated depreciation [Line Items]
Real Estate Investment Property, Net	10,953		10,953		10,998
Accumulated depreciation	9,464		9,464		9,198
Partnerships and other investments [Member]
Properties owned, net of accumulated depreciation [Line Items]
Real Estate Investment Property, Net	$ 6,087		$ 6,087		$ 6,099

INVESTMENTS IN REAL ESTATE (Ope

INVESTMENTS IN REAL ESTATE (Operating Leases) (Details) $ in Thousands	Jun. 30, 2015USD ($)
Real Estate Investments, Net [Abstract]
2,016	$ 968
2,017	777
2,018	719
2,019	561
2,020	310
Thereafter	311
Total	$ 3,646

INVESTMENT SECURITIES (Narrativ

INVESTMENT SECURITIES (Narrative) (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)Facilityshares	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)FacilityIssuershares	Jun. 30, 2014USD ($)	Dec. 31, 2014Issuer
Schedule of Available-for-sale Securities [Line Items]
Purchase of investment			$ 2,687,000
Unrealized (gain) loss on trading securities			42,000
RAI [Member]
Schedule of Available-for-sale Securities [Line Items]
Purchase of investment			2,687,000	$ 1,318,000
Gain (loss) on sale of investments	$ 22,000	$ 870,000	28,000	987,000
Unrealized (gain) loss on trading securities	$ 22,000	$ 192,000	$ 42,000	120,000
CLO securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of CDO issuers that represent the retained equity interest | Issuer			15		12
Equity securities [Member] | TBBK [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of shares held (in shares) | shares	18,972		18,972
Number of Secured Corporate Credit Facilities | Facility	1		1
Equity securities [Member] | RREDX [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of shares held (in shares) | shares	10,808		10,808
Purchase of investment				$ 109,000
Equity securities [Member] | Resource Credit Income Fund [Member]
Schedule of Available-for-sale Securities [Line Items]
Purchase of investment			$ 215,000
Equity securities [Member] | RRE Global Opportunity Fund [Member]
Schedule of Available-for-sale Securities [Line Items]
Purchase of investment			$ 677,400
Purchase of investment, number of units | shares			749,976

INVESTMENT SECURITIES (Componen

INVESTMENT SECURITIES (Components of Investment Securities) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	$ 10,589	$ 9,065
Trading securities	281	475
Total investment securities, at fair value	$ 10,870	$ 9,540

INVESTMENT SECURITIES (Pre-tax

INVESTMENT SECURITIES (Pre-tax Unrealized Gains (Losses) Relating to Investments in Available-for-Sale Securities) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 8,795	$ 7,850
Unrealized Gains	1,828	1,391
Unrealized Losses	(34)	(176)
Fair Value	10,589	9,065
CLO securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	7,692	6,962
Unrealized Gains	1,718	1,228
Unrealized Losses	(33)	(176)
Fair Value	9,377	8,014
Equity securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	1,103	888
Unrealized Gains	110	163
Unrealized Losses	(1)	0
Fair Value	$ 1,212	$ 1,051

INVESTMENT SECURITIES (Availabl

INVESTMENT SECURITIES (Available-for-sale Securities, Continuous Unrealized Loss Position) (Details) $ in Thousands	Jun. 30, 2015USD ($)Security	Dec. 31, 2014USD ($)Security
Schedule of Available-for-sale Securities [Line Items]
Fair Value	$ 1,193	$ 2,643
Unrealized Losses	$ 34	$ 176
Number of Securities | Security	3	4
Fair Value	$ 0	$ 0
Unrealized Losses	$ 0	$ 0
Number of Securities | Security	0	0
Collateralized Debt Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	$ 979	$ 2,643
Unrealized Losses	$ 33	$ 176
Number of Securities | Security	2	4
Fair Value	$ 0	$ 0
Unrealized Losses	$ 0	$ 0
Number of Securities | Security	0	0
Equity securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	$ 214	$ 0
Unrealized Losses	$ 1	$ 0
Number of Securities | Security	1	0
Fair Value	$ 0	$ 0
Unrealized Losses	$ 0	$ 0
Number of Securities | Security	0	0

INVESTMENTS IN UNCONSOLIDATED60

INVESTMENTS IN UNCONSOLIDATED ENTITIES AND LOAN MANAGER (Narrative) (Details) $ in Thousands	Jul. 02, 2015	Jun. 30, 2015USD ($)	Apr. 17, 2012	Jun. 30, 2015USD ($)	Jul. 31, 2015Fund
Schedule of Equity Method Investments [Line Items]
Preferred equity interest retained as a percentage of incentive management fees		75.00%		75.00%
RRE Opportunity REIT I [Member]
Schedule of Equity Method Investments [Line Items]
Cost method investment		$ 2,500		$ 2,500
RRE Opportunity REIT II [Member]
Schedule of Equity Method Investments [Line Items]
Cost method investment		1,300		1,300
Pearlmark Real Estate Partners [Member]
Schedule of Equity Method Investments [Line Items]
Cost method investment		3,000		3,000
CVC Credit Partners [Member]
Schedule of Equity Method Investments [Line Items]
Cost method investment		6,800		$ 6,800
Percentage interest in limited partnership formed				33.00%
Percentage Interest In Limited Partnership, After Option				24.00%
Equity Method Investment, Other than Temporary Impairment		4,300
Innovation Office REIT [Member]
Schedule of Equity Method Investments [Line Items]
Cost method investment		$ 200		$ 200
CVC Credit Partners, L.P. [Member]
Schedule of Equity Method Investments [Line Items]
Irrevocable Option to Buy Interests in Joint Venture, Percentage				9.00%
Subsequent Event [Member]
Schedule of Equity Method Investments [Line Items]
Number of Fundraising, Funds | Fund					2
Limited Partner [Member] | CVC Credit Partners, L.P. [Member] | Parent Company [Member]
Schedule of Equity Method Investments [Line Items]
Percentage interest in limited partnership formed			33.00%
Limited Partner [Member] | Subsequent Event [Member] | CVC Credit Partners, L.P. [Member] | Parent Company [Member]
Schedule of Equity Method Investments [Line Items]
Percentage interest in limited partnership formed	24.00%
Irrevocable Option to Buy Interests in Joint Venture, Percentage	9.00%

INVESTMENTS IN UNCONSOLIDATED61

INVESTMENTS IN UNCONSOLIDATED ENTITIES AND LOAN MANAGER (Investment Vehicles, Including the Range of Interests it Owns) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	$ 16,884	$ 13,089
Real estate investment entities [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	$ 11,461	8,313
Real estate investment entities [Member] | Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	1.00%
Real estate investment entities [Member] | Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	12.00%
Financial fund management investment entities [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	$ 4,802	4,162
Financial fund management investment entities [Member] | Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	0.01%
Financial fund management investment entities [Member] | Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	50.00%
Trapeza entities [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	$ 621	$ 614
Trapeza entities [Member] | Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	33.00%
Trapeza entities [Member] | Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	50.00%

INVESTMENTS IN UNCONSOLIDATED62

INVESTMENTS IN UNCONSOLIDATED ENTITIES AND LOAN MANAGER (Summary Operating Data for Unconsolidated Investment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Equity Method Investments [Line Items]
Portion of net income attributable to the Company	$ 2,897	$ 1,047	$ 4,741	$ 1,678
CVC Credit Partners [Member]
Schedule of Equity Method Investments [Line Items]
Management fee revenues	15,891	14,399	32,629	26,787
Costs and expenses	(14,118)	(13,551)	(28,927)	(24,847)
Net income	1,773	848	3,702	1,940
Portion of net income attributable to the Company	$ 580	$ 280	$ 1,222	$ 641

ACCRUED EXPENSES AND OTHER LI63

ACCRUED EXPENSES AND OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Accounts payable and other accrued liabilities	$ 7,091	$ 6,045
Supplemental executive retirement plan (SERP) liability (see Note 14)	6,052	6,383
Accrued wages and benefits	3,584	4,580
Deferred rent	2,475	2,485
Apidos contractual obligation, at fair value (see Notes 8 and 16)	664	745
Dividends	1,355	1,312
Insurance notes	20	729
Total accrued expenses and other liabilities	$ 21,241	$ 22,279

BORROWINGS (Credit Facilities a

BORROWINGS (Credit Facilities and Other Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Borrowings Outstanding	$ 21,029	$ 20,412
TD Bank, NA - secured revolving credit facility [Member]
Debt Instrument [Line Items]
Maximum Amount of Facility	10,997
Borrowings Outstanding	0	0
Outstanding letters of credit	503
Republic Bank - secured revolving credit facility [Member]
Debt Instrument [Line Items]
Maximum Amount of Facility	2,432
Borrowings Outstanding	0	0
Total corporate and real estate borrowings [Member]
Debt Instrument [Line Items]
Borrowings Outstanding	0	0
Senior Notes [Member]
Debt Instrument [Line Items]
Borrowings Outstanding	10,000	10,000
Mortgage debt - hotel property [Member]
Debt Instrument [Line Items]
Borrowings Outstanding	9,984	10,088
Other debt [Member]
Debt Instrument [Line Items]
Borrowings Outstanding	1,045	$ 324
Letters of Credit [Member]
Debt Instrument [Line Items]
Outstanding letters of credit	$ 503

BORROWINGS (Corporate and Real

BORROWINGS (Corporate and Real Estate Debt) (Details) - USD ($)	1 Months Ended	6 Months Ended
	Nov. 30, 2013	Jun. 30, 2015	Dec. 31, 2014	Apr. 24, 2014	Feb. 28, 2011
Debt Instrument [Line Items]
Borrowings outstanding		$ 21,029,000	$ 20,412,000
Line of Credit Facility, Fair Value of Amount Outstanding		$ 0	0
Mortgage debt - hotel property [Member]
Debt Instrument [Line Items]
Debt Instrument, Term		10 years
Long-term Debt		$ 10,700,000
Borrowings outstanding		$ 9,984,000	10,088,000
Interest rate		6.36%
Debt Instrument, Periodic Payment		$ 71,331
TD Bank, NA - secured revolving credit facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		11,500,000		$ 7,500,000
Required pledged securities		$ 6,000,000
Number of consecutive days during each one-year period company may not have cash advances		30 days
Unused facility fee		0.50%
Line of credit facility commitment fee percentage on outstanding lines of credit		5.25%
Outstanding letters of credit		$ 503,000
Borrowings outstanding		0	0
Availability on the line of credit facility		$ 11,000,000
TD Bank, NA - secured revolving credit facility [Member] | TBBK common stock
Debt Instrument [Line Items]
Number of securities pledged (in shares)		18,972
TD Bank, NA - secured revolving credit facility [Member] | RSO common stock
Debt Instrument [Line Items]
Number of securities pledged (in shares)		2,160,671
TD Bank, NA - secured revolving credit facility [Member] | Prime Rate [Member]
Debt Instrument [Line Items]
Description of variable rate basis		prime rate
Basis spread on variable rate		2.25%
TD Bank, NA - secured revolving credit facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Description of variable rate basis		LIBOR
Basis spread on variable rate		3.00%
TD Bank, NA - secured revolving credit facility [Member] | LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
LIBOR rate range		1 month
TD Bank, NA - secured revolving credit facility [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
LIBOR rate range		6 months
Republic Bank - secured revolving credit facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 3,500,000
Unused facility fee	0.50%	0.25%
Borrowings outstanding		$ 0	$ 0
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%
Republic Bank - secured revolving credit facility [Member] | RSO common stock
Debt Instrument [Line Items]
Number of securities pledged (in shares)		700,000
Republic Bank - secured revolving credit facility [Member] | Prime Rate [Member]
Debt Instrument [Line Items]
Description of variable rate basis		prime rate
Basis spread on variable rate		1.00%
Prime borrowings floor interest rate		4.50%

BORROWINGS (Senior Notes and Ot

BORROWINGS (Senior Notes and Other Debt) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Senior Notes [Member]
Debt Instrument [Line Items]
Remaining balance	$ 10
Interest rate	9.00%
Debt Instrument, Redemption, Period One [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage	102.00%
Debt Instrument, Redemption, Period Two [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage	101.00%
Debt Instrument, Redemption, Period Three [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage	101.00%
Debt Instrument, Redemption, Thereafter [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage	100.00%
Senior Notes [Member]
Debt Instrument [Line Items]
Effective interest rate	9.10%	9.40%

BORROWINGS (Debt Repayments) (D

BORROWINGS (Debt Repayments) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
2,016	$ 603
2,017	10,608
2,018	532
2,019	265
2,020	281
Thereafter	8,740
Total	$ 21,029	$ 20,412

ACCUMULATED OTHER COMPREHENSI68

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Changes in Accumulated Other Comprehensive Income (Loss) by Category) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Changes in Accumulated Other Comprehensive Income (Loss) by Category [Roll Forward]
Investment Securities Available-for-Sale balance, beginning of the year	$ 1,979
Cash Flow Hedges balance, beginning of the year	(1)
Foreign Currency Translation Adjustments, beginning of the year	(5)
SERP Pension Liability balance, beginning of the year	(3,003)
Total balance, beginning of the year	(1,030)
Current period changes for investment securities available- for- sale	19
Current period changes for cash flow hedges	0
Current period changes for foreign currency translation adjustments	2
Current period changes for SERP pension liability	94
Current period changes, total	115
Investment Securities Available-for-Sale balance, end of the year	1,998	$ 1,979
Cash Flow Hedges balance, end of the year	(1)	(1)
Foreign Currency Translation Adjustments, end of the year	(3)	(5)
SERP Pension Liability balance, end of the year	(2,909)	(3,003)
Total balance, end of the year	(915)	(1,030)
Tax portion of investment securities available for sale in accumulated other comprehensive income	204	472
Tax portion of cash flow hedges in accumulated other comprehensive income	0	0
Tax portion of foreign currency translation adjustments in accumulated other comprehensive income	2	(3)
Tax portion of SERP pension liability in accumulated other comprehensive income	$ 18	$ (2,700)

NONCONTROLLING INTERESTS (Detai

NONCONTROLLING INTERESTS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
RSO [Member]
Activity in noncontrolling interests [Roll Forward]
Noncontrolling interests, beginning of year			$ 916,543
Net income (loss) attributable to noncontrolling interests	$ (22,052)	$ 17,405	(4,257)	$ 34,556
Noncontrolling interests, end of period	859,098		859,098
RAI [Member]
Activity in noncontrolling interests [Roll Forward]
Noncontrolling interests, beginning of year			306
Net income (loss) attributable to noncontrolling interests	63	$ 84	55	$ 44
Noncontrolling interests, end of period	376		376
Noncontrolling Interests [Member] | RSO [Member]
Activity in noncontrolling interests [Roll Forward]
Noncontrolling interests, beginning of year			916,543
Net income (loss) attributable to noncontrolling interests			(4,257)
Other comprehensive loss			(5,976)
Proceeds from issuance of equity interests, net			3,159
Amortization of stock-based compensation			1,787
Discount on 6% senior convertible notes			2,528
Contributions from (distributions to) noncontrolling interests			(55,279)
Other			593
Noncontrolling interests, end of period	859,098		859,098
Noncontrolling Interests [Member] | RAI [Member]
Activity in noncontrolling interests [Roll Forward]
Noncontrolling interests, beginning of year			306
Net income (loss) attributable to noncontrolling interests			55
Other comprehensive loss			15
Proceeds from issuance of equity interests, net			0
Amortization of stock-based compensation			0
Discount on 6% senior convertible notes			0
Contributions from (distributions to) noncontrolling interests			0
Other			0
Noncontrolling interests, end of period	$ 376		$ 376

EARNINGS PER SHARE (Reconciliat

EARNINGS PER SHARE (Reconciliation) (Details) - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reconciliation of the components used in the computation of Basic and Diluted EPS [Abstract]
Basic shares outstanding (in shares)	22,867	20,386	22,915	20,320
Dilutive effect of outstanding stock options, warrants and director units (in shares)	0	1,646	0	1,711
Dilutive shares outstanding (in shares)	22,867	22,032	22,915	22,031
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	565		565
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 17.62		$ 17.62

BENEFIT PLANS (Narrative) (Deta

BENEFIT PLANS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2014
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Restricted stock award, number of shares		440,852	417,407
Restricted stock award, value		$ 3,900	$ 3,700
SERP [Member] | Chief Executive Officer [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Benefits paid		$ 838
Performance Shares [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Restricted stock award, number of shares	45,306
Restricted stock award, value	$ 420

BENEFIT PLANS (Components of Ne

BENEFIT PLANS (Components of Net Periodic Benefit Cost) (Details) - SERP [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 63	$ 69	$ 125	$ 137
Less: expected return on plan assets	(18)	(39)	(37)	(78)
Plus: amortization of unrecognized loss	105	69	211	139
Net cost	$ 150	$ 99	$ 299	$ 198

CERTAIN RELATIONSHIPS AND REL73

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS (Narrative) (Details)	Mar. 15, 2015USD ($)	May. 06, 2014EUR (€)	Feb. 06, 2014USD ($)$ / shares	Jun. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Partnership	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Dec. 08, 2014EUR (€)
Related Party Transaction [Line Items]
Due from related parties						$ 26,520,000		$ 30,303,000
Limited Liability Company or Limited Partnership, Number of Investments Sponsored and Managed | Partnership						1
Resource Real Estate Opportunity REIT Inc [Member]
Related Party Transaction [Line Items]
Due from related parties						$ 347,000		325,000
RRE Opportunity REIT II [Member]
Related Party Transaction [Line Items]
Due from related parties						$ 893,000		$ 3,400,000
Increase in related party loan receivable				$ 1,300,000
Related party loan receivable, description of variable rate basis				LIBOR
Related party loan receivable, basis spread on variable rate						3.00%
CVC Credit Partners Group Limited [Member]
Related Party Transaction [Line Items]
Related party loan receivable, description of variable rate basis		EURIBOR
Related party loan receivable, maximum borrowing capacity | €		€ 1,500,000
Related party loan receivable, basis spread on variable rate		7.00%
CVC Credit Partners, L.P. [Member]
Related Party Transaction [Line Items]
Notes receivable, related party | €									€ 500,000
Affiliated Real Estate Limited Partnership [Member]
Related Party Transaction [Line Items]
Maximum revolving note, related party						$ 3,000,000
Interest rate description							bearing interest at the prime rate
Notes receivable, related party						$ 2,300,000
Limited Liability Company or Limited Partnership, Number of Investments Sponsored and Managed | Partnership						1
Other revenues from transactions with related party					$ 19,000		$ 37,000
Employees [Member]
Related Party Transaction [Line Items]
Related party loan receivable, description of variable rate basis						3-month LIBOR
Related party loan receivable, basis spread on variable rate						3.00%
Due from employee						$ 300,000
Payments to Employees	$ 50,000
IPO [Member] | RRE Opportunity REIT II [Member]
Related Party Transaction [Line Items]
Initial public offering, amount of offering			$ 1,000,000,000
Initial public offering, maximum price per share (in dollars per share) | $ / shares			$ 10

CERTAIN RELATIONSHIPS AND REL74

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS (Receivables and Payables from Related Party) (Details)	Jun. 30, 2015USD ($)Entity	Dec. 31, 2014USD ($)Entity
Related Party Transaction [Line Items]
Receivables from managed entities and related parties	$ 26,520,000	$ 30,303,000
Payables due to managed entities and related parties, net	$ 4,748,000	3,015,000
Number of commercial finance investment entities that are not expected to be collectible | Entity	1
Real Estate Limited Partnership [Member]
Related Party Transaction [Line Items]
Reserves for credit losses	$ 307,000	0
Number of commercial finance investment entities that are not expected to be collectible | Entity	1
Receivables from Managed Entities - Commercial Finance [Member]
Related Party Transaction [Line Items]
Reserves for credit losses	$ 17,400,000	$ 17,000,000
Number of commercial finance investment entities that are not expected to be collectible | Entity	1	1
Real estate investment entities [Member]
Related Party Transaction [Line Items]
Payable to real estate investment entities, self insurance	$ 4,300,000	$ 2,600,000
Real estate investment entities [Member]
Related Party Transaction [Line Items]
Receivables from managed entities and related parties	20,191,000	23,733,000
Payables due to managed entities and related parties, net	4,665,000	2,942,000
Commercial finance investment entities [Member]
Related Party Transaction [Line Items]
Receivables from managed entities and related parties	2,453,000	2,883,000
Financial fund management investment entities [Member]
Related Party Transaction [Line Items]
Receivables from managed entities and related parties	1,172,000	663,000
Other [Member]
Related Party Transaction [Line Items]
Receivables from managed entities and related parties	326,000	488,000
Payables due to managed entities and related parties, net	83,000	73,000
CVC Credit Partners [Member]
Related Party Transaction [Line Items]
Receivables from managed entities and related parties	$ 2,378,000	$ 2,536,000

CERTAIN RELATIONSHIPS AND REL75

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS (Fees From Unconsolidated Investment Entities) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Commercial Finance, Four Investment Entities [Member]
Related Party Transaction [Line Items]
Amount waived of the fund management fees from commercial finance investment entities	$ 31	$ 276	$ 500	$ 80
Real estate [Member]
Related Party Transaction [Line Items]
Fees from unconsolidated investment entities	12,173	8,519	21,607	17,444
Discounts recorded	3	41	210	74
Financial fund management [Member]
Related Party Transaction [Line Items]
Fees from unconsolidated investment entities	785	1,265	1,567	2,067
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 related party costs	246	444	475	625
RRE Opportunity REIT I [Member]
Related Party Transaction [Line Items]
Reimbursement of related party costs	934	564	1,822	915
Dividends paid	29	29	44	58
RRE Opportunity REIT II [Member]
Related Party Transaction [Line Items]
Reimbursement of related party costs	762	446	1,499	948
Dividends paid	13	0	20	0
LEAF [Member]
Related Party Transaction [Line Items]
Reimbursement of related party costs	41	28	(41)	(201)
Payment for sub-servicing the commercial finance investment partnerships	(18)	(74)	77	64
1845 Walnut Associates Ltd. [Member]
Related Party Transaction [Line Items]
Payment for rent and operating expenses	(209)	(203)	(416)	(407)
Property management fees	38	77	76	93
Brandywine Construction & Management, Inc. [Member]
Related Party Transaction [Line Items]
Payment for property management of hotel property	(81)	(72)	(133)	(112)
Atlas Energy, L.P. [Member]
Related Party Transaction [Line Items]
Reimbursement of related party costs	11	42	24	72
Ledgewood P.C. [Member]
Related Party Transaction [Line Items]
Payment for legal services	(55)	(43)	(89)	(67)
Graphic Images, LLC [Member]
Related Party Transaction [Line Items]
Payment for printing services	(36)	(29)	(84)	(89)
The Bancorp, Inc. [Member]
Related Party Transaction [Line Items]
Reimbursement of related party costs	0	28	0	55
9 Henmar LLC [Member]
Related Party Transaction [Line Items]
Payment of broker/consulting fees	$ (14)	$ (15)	$ (17)	$ (18)

FAIR VALUE (Narrative) (Details

FAIR VALUE (Narrative) (Details)	Jun. 30, 2015Security
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of securities held	4
Debt or Equity Investments in Externally Managed CDOs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of securities held	3
Term Loan [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of securities held	1

FAIR VALUE (Assets Recorded at

FAIR VALUE (Assets Recorded at Fair Value on Recurring Basis) (Details) - Recurring Basis [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Apr. 30, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	$ 10,870	$ 9,540
Apidos contractual commitment	664	745
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	497	310
Apidos contractual commitment	0	0
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	715	741
Apidos contractual commitment	0	0
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	9,658	8,489
Apidos contractual commitment	$ 664	$ 745	$ 589

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 ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 8,489	$ 7,407
Purchases	1,056	15,063
Income accreted	572	995
Payments and distributions received, net	(944)	(3,752)
Sales	(175)	(13,235)
Gain on sale of investment securities, net		445
Unrealized losses on trading securities	(15)	(200)
Unrealized holding gains on trading securities	43	1,834
Change in unrealized gains (losses) included in accumulated other comprehensive loss	632	(68)
Ending balance	$ 9,658	$ 8,489

FAIR VALUE (Quantitative Inputs

FAIR VALUE (Quantitative Inputs and Assumptions Used in Determining the Fair Value of Items Categorized in Level 3) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	$ 10,589	$ 9,065
Trading securities	$ 281	475
Loss severity rate	30.00%
Collateralized Loan Obligations [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Inputs, Probability of Default	0.00%
Fair Value Inputs, Reinvestment Spread	0.00%
Collateralized Loan Obligations [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Inputs, Probability of Default	2.00%
Fair Value Inputs, Reinvestment Spread	450.00%
Collateralized Debt Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	$ 9,377	$ 8,014
Loss severity rate	25.00%
Constant prepayment rate - year one	30.00%
Constant prepayment rate - thereafter	25.00%
Reinvestment price on collateral		99.50%
Discount rates	14.00%
Trading Securities [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Inputs, Probability of Default	5.00%
Fair Value Inputs, Prepayment Rate	20.00%
Trading Securities [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Inputs, Probability of Default	9.00%
Fair Value Inputs, Prepayment Rate	30.00%

FAIR VALUE (Fair Value of Finan

FAIR VALUE (Fair Value of Financial Instruments) (Details) - Recurring Basis [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Carrying Amount [Member]
Liabilities:
Real estate debt	$ 9,984	$ 10,088
Senior Notes	10,000	10,000
Other debt	1,045	324
Total liabilities at fair value	21,029	20,412
Fair Value [Member]
Liabilities:
Real estate debt	10,820	11,197
Senior Notes	13,240	12,820
Other debt	1,045	324
Total liabilities at fair value	$ 25,105	$ 24,341

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	6 Months Ended
	Jun. 30, 2015USD ($)PartnershipFund	Dec. 31, 2014USD ($)
Loss Contingencies [Line Items]
Limited Liability Company or Limited Partnership, Number of Investments Sponsored and Managed | Partnership	1
Management Fee Expense	$ 1,100,000
Loans Held For Investment, Unfunded Loan Commitments	$ 5,400,000
Unfunded Capital Commitments, Number | Fund	4
Unfunded Capital Commitments, Period	2 years
Resource Real Estate Opportunity REIT Inc [Member]
Loss Contingencies [Line Items]
Cumulative Funded Equity in Fund	$ 200,000
Investment commitment	1.00%
Equity Raised in Fund	$ 100,000,000
Cost method investment	2,500,000
Maximum investment commitment	1,000,000
Pearlmark Real Estate Partners [Member]
Loss Contingencies [Line Items]
Equity Raised in Fund	8,000,000
Cost method investment	3,000,000
Maximum investment commitment	$ 6,000,000
Internal Rate of Return	10.00%
Resource Securities [Member]
Loss Contingencies [Line Items]
Minimum net capital required	$ 134,000	$ 100,000
Net capital	881,000	1,400,000
Minimum requirement of net capital exceeded by	$ 700,000	$ 1,300,000
Maximum [Member]
Loss Contingencies [Line Items]
Clawback Liability, Percentage	75.00%

OPERATING SEGMENTS (Narrative)

OPERATING SEGMENTS (Narrative) (Details)	6 Months Ended
	Jun. 30, 2015Segment
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of reportable operating segments	3
RSO [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of operating segments	1

OPERATING SEGMENTS (Summarized

OPERATING SEGMENTS (Summarized Operating Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Revenues from external customers	$ 43,099	$ 41,288	$ 83,444	$ 83,273
Equity in (losses) earnings of unconsolidated entities	2,897	1,047	4,741	1,678
Total revenues	45,996	42,335	88,185	84,951
Segment operating expenses	(66,861)	(25,807)	(99,621)	(47,640)
General and administrative expenses	(4,181)	(2,729)	(7,478)	(5,883)
Provision for credit losses	(276)	(1,575)	(678)	(2,783)
Depreciation and amortization	(515)	(465)	(972)	(916)
Other-than-temporary impairment losses recognized in earnings	(4,346)		(4,346)
Gain on sale of investment securities, net		370		370
Interest expense	(455)	(497)	(876)	(980)
Other income (expense), net	10,772	10,310	27,135	14,009
Pretax loss (income) attributable to noncontrolling interests	21,989	(17,489)	4,202	(34,600)
Income (loss) from continuing operations, net of noncontrolling interests before taxes	2,123	4,453	5,551	6,528
Total assets	2,942,705	2,723,446	2,942,705	2,723,446	$ 2,900,382
RAI [Member]
Segment Reporting Information [Line Items]
Equity in (losses) earnings of unconsolidated entities			4,741	1,678
Total revenues	25,899	21,547	48,000	41,798
General and administrative expenses	(4,181)	(2,729)	(7,478)	(5,883)
Provision for credit losses	(276)	(1,575)	(678)	(2,783)
Depreciation and amortization	(515)	(465)	(972)	(916)
Other-than-temporary impairment losses recognized in earnings	(4,346)	0	(4,346)	0
Interest expense	(455)	(497)	(876)	(980)
Other income (expense), net	231	18	67	183
RSO [Member]
Segment Reporting Information [Line Items]
Total revenues	24,201	23,828	48,562	49,073
Other income (expense), net	10,537	10,281	27,053	13,797
Total assets	2,774,224	2,558,168	2,774,224	2,558,168
Operating Segments [Member] | Real Estate [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	19,705	13,674	35,999	27,304
Equity in (losses) earnings of unconsolidated entities	1,411	(226)	2,083	(581)
Total revenues	21,116	13,448	38,082	26,723
Segment operating expenses	(12,082)	(9,105)	(23,581)	(17,980)
General and administrative expenses	(1,376)	(731)	(2,255)	(1,827)
Provision for credit losses	(194)	7	(308)	10
Depreciation and amortization	(343)	(310)	(655)	(618)
Other-than-temporary impairment losses recognized in earnings	0		0
Gain on sale of investment securities, net		0		0
Interest expense	(179)	(191)	(362)	(387)
Other income (expense), net	248	111	471	367
Pretax loss (income) attributable to noncontrolling interests	(63)	(84)	(55)	(44)
Income (loss) from continuing operations, net of noncontrolling interests before taxes	7,127	3,145	11,337	6,244
Total assets	197,599	183,279	197,599	183,279
Operating Segments [Member] | Financial Fund Management [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	2,556	6,826	5,685	12,816
Equity in (losses) earnings of unconsolidated entities	2,225	1,315	4,233	2,400
Total revenues	4,781	8,141	9,918	15,216
Segment operating expenses	(3,154)	(2,779)	(6,144)	(7,168)
General and administrative expenses	(451)	(445)	(735)	(898)
Provision for credit losses	0	0	0	0
Depreciation and amortization	(16)	(20)	(32)	(31)
Other-than-temporary impairment losses recognized in earnings	(4,346)		(4,346)
Gain on sale of investment securities, net		370		370
Interest expense	0	0	0	0
Other income (expense), net	475	555	916	1,126
Pretax loss (income) attributable to noncontrolling interests	0	0	0	0
Income (loss) from continuing operations, net of noncontrolling interests before taxes	(2,711)	5,822	(423)	8,615
Total assets	49,022	59,959	49,022	59,959
Operating Segments [Member] | Commercial Finance [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	7	0	20	0
Equity in (losses) earnings of unconsolidated entities	(5)	(42)	(20)	(141)
Total revenues	2	(42)	0	(141)
Segment operating expenses	(458)	(123)	$ (1,037)	(226)
General and administrative expenses	0	0		0
Provision for credit losses	(82)	(1,582)	$ (370)	(2,793)
Depreciation and amortization	0	0	0	0
Other-than-temporary impairment losses recognized in earnings	0		0
Gain on sale of investment securities, net		0		0
Interest expense	(1)	(9)	(1)	(9)
Other income (expense), net	2	0	3	(2)
Pretax loss (income) attributable to noncontrolling interests	0	0	0	0
Income (loss) from continuing operations, net of noncontrolling interests before taxes	(537)	(1,756)	(1,405)	(3,171)
Total assets	3,863	5,469	3,863	5,469
Operating Segments [Member] | All Other [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	0	0	0	0
Equity in (losses) earnings of unconsolidated entities	0	0	0	0
Total revenues	$ 0	0	0	0
Segment operating expenses		0	0	0
General and administrative expenses	$ (2,354)	(1,553)	(4,488)	(3,158)
Provision for credit losses	0	0	0	0
Depreciation and amortization	(156)	(135)	(285)	(267)
Other-than-temporary impairment losses recognized in earnings	0		0
Gain on sale of investment securities, net		0		0
Interest expense	(275)	(297)	(513)	(584)
Other income (expense), net	(36)	(76)	(387)	(164)
Pretax loss (income) attributable to noncontrolling interests	0	0	0	0
Income (loss) from continuing operations, net of noncontrolling interests before taxes	(2,821)	(2,061)	(5,673)	(4,173)
Total assets	(82,003)	(83,429)	(82,003)	(83,429)
Reportable Legal Entities [Member]
Segment Reporting Information [Line Items]
Total revenues	(4,104)
Total assets	168,481	165,278	168,481	165,278
Reportable Legal Entities [Member] | RAI [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	22,268	20,500	41,704	40,120
Equity in (losses) earnings of unconsolidated entities	3,631	1,047	6,296	1,678
Total revenues	25,899	21,547	48,000	41,798
Segment operating expenses	(15,694)	(12,007)	(30,762)	(25,374)
General and administrative expenses	(4,181)	(2,729)	(7,478)	(5,883)
Provision for credit losses	(276)	(1,575)	(678)	(2,783)
Depreciation and amortization	(515)	(465)	(972)	(916)
Other-than-temporary impairment losses recognized in earnings	(4,346)		(4,346)	0
Gain on sale of investment securities, net		370		370
Interest expense	(455)	(497)	(876)	(980)
Other income (expense), net	689	590	1,003	1,327
Pretax loss (income) attributable to noncontrolling interests	(63)	(84)	(55)	(44)
Income (loss) from continuing operations, net of noncontrolling interests before taxes	1,058	5,150	3,836	7,515
Total assets	201,062		201,062
Reportable Legal Entities [Member] | RSO [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	24,201	23,828	48,562	49,073
Equity in (losses) earnings of unconsolidated entities	0	0	0	0
Total revenues	24,201	23,828	48,562	49,073
Segment operating expenses	(54,535)	(16,853)	(75,595)	(28,138)
General and administrative expenses	0	0	0	0
Provision for credit losses	0	0	0	0
Depreciation and amortization	0	0	0	0
Other-than-temporary impairment losses recognized in earnings	0		0
Gain on sale of investment securities, net		0		0
Interest expense	0	0	0	0
Other income (expense), net	10,537	10,281	27,053	13,797
Pretax loss (income) attributable to noncontrolling interests	(8,296)	(17,405)	(16,864)	(34,556)
Income (loss) from continuing operations, net of noncontrolling interests before taxes	(28,093)	(149)	(16,844)	176
Total assets	2,774,224		2,774,224
Consolidation, Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	(3,370)	(3,040)	(6,822)	(5,920)
Equity in (losses) earnings of unconsolidated entities	(734)	0	(1,555)	0
Total revenues	(4,104)	(3,040)	(8,377)	(5,920)
Segment operating expenses	3,368	3,053	6,736	5,872
General and administrative expenses	0	0	0	0
Provision for credit losses	0	0	0	0
Depreciation and amortization	0	0	0	0
Other-than-temporary impairment losses recognized in earnings	0		0
Gain on sale of investment securities, net		0		0
Interest expense	0	0	0	0
Other income (expense), net	(454)	(561)	(921)	(1,115)
Pretax loss (income) attributable to noncontrolling interests	30,348	0	21,121	0
Income (loss) from continuing operations, net of noncontrolling interests before taxes	29,158	(548)	18,559	(1,163)
Total assets	(32,581)		(32,581)
Consolidation, Eliminations [Member] | RAI [Member]
Segment Reporting Information [Line Items]
Interest expense		0
Other income (expense), net	(458)	$ (572)	(936)	$ (1,144)
Consolidation, Eliminations [Member] | RSO [Member]
Segment Reporting Information [Line Items]
Total assets	$ 0		$ 0

VARIABLE INTEREST ENTITIES RSO

VARIABLE INTEREST ENTITIES RSO Balance Sheets Detail (Details) - USD ($)	Jun. 30, 2015	Apr. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Assets:
Cash and cash equivalents	$ 23,760,000		$ 27,542,000	$ 11,858,000	$ 19,853,000
Trading securities	281,000		475,000
Total investment securities, at fair value	10,870,000		9,540,000
Direct financing leases	1,590,000		2,109,000
Total assets	2,942,705,000		2,900,382,000	2,723,446,000
LIABILITIES
Borrowings	21,029,000		20,412,000
Total liabilities	1,926,451,000		1,819,939,000
RSO [Member]
Assets:
Cash and cash equivalents	145,010,000		79,905,000	222,313,000	$ 262,270,000
Restricted cash	45,755,000		122,138,000
Subtotal - Cash and cash equivalents	190,765,000		202,043,000
Trading securities	32,680,000		20,786,000
Investment securities available-for-sale, pledged as collateral, at fair value	170,935,000		197,800,000
Investment securities available-for-sale, at fair value	82,493,000		77,920,000
Total investment securities, at fair value	286,108,000		296,506,000
Loans, pledged as collateral and net of allowances of $46.3 million and $4.6 million	2,042,885,000		1,925,980,000
Loans receivable–related party	0		558,000
Loans held for sale	111,122,000		113,675,000
Loans	2,154,007,000		2,039,655,000
Property held for sale	180,000		180,000
Investments in unconsolidated entities	56,150,000	$ 750,000	59,827,000
Subtotal, Investments in real estate and unconsolidated entities	56,330,000		60,007,000
Linked transactions, net at fair value	0		15,367,000
Derivatives, at fair value	4,289,000		5,304,000
Interest receivable	12,046,000		16,260,000
Deferred tax assets, net	12,828,000		12,634,000
Principal paydown receivable	11,525,000		40,920,000
Intangible assets	24,370,000		18,610,000
Prepaid expenses	3,913,000		4,196,000
Other assets	87,014,000		129,801,000
Total assets	2,774,224,000		2,728,012,000
LIABILITIES
Borrowings	1,827,793,000		1,717,076,000
Distribution payable	25,504,000		30,592,000
Accrued interest expense	5,467,000		2,123,000
Derivatives, at fair value	6,991,000		8,476,000
Accrued tax liability	6,383,000		9,219,000
Accounts payable and other liabilities	9,769,000		9,287,000
Other liabilities	51,640,000		57,251,000
Total liabilities	1,879,433,000		1,774,327,000
Assets of consolidated Variable Interest Entities (VIEs) included in the total assets above:
Cash and cash equivalents	189,000		25,000
Restricted cash	43,954,000		121,247,000
Investments securities available-for-sale, pledged as collateral, at fair value	84,858,000		119,203,000
Loans held for sale	6,027,000		282,000
Loans, pledged as collateral and net of allowances of $42.7 million and $3.3 million	1,352,546,000		1,261,137,000
Interest receivable	5,468,000		8,941,000
Prepaid expenses	182,000		221,000
Principal paydown receivable	0		25,767,000
Other assets	9,000		(12,000)
Total assets of consolidated VIE-RSO	1,493,233,000		1,536,811,000
Liabilities of consolidated VIEs included in the total liabilities above:
Borrowings	1,047,172,000		1,046,494,000
Accrued interest expense	852,000		1,000,000
Derivatives, at fair value	5,946,000		8,439,000
Unsettled loan purchases	(529,000)		(529,000)
Accounts payable and other liabilities	190,000		(386,000)
Total liabilities of consolidated VIE-RSO	1,053,631,000		1,055,018,000
Reportable Legal Entities [Member]
Assets:
Total assets	168,481,000			$ 165,278,000
Reportable Legal Entities [Member] | RSO [Member]
Assets:
Loans	2,154,007,000		2,040,213,000
Other assets	16,453,000		14,510,000
Other assets	87,014,000		129,910,000
Total assets	2,774,224,000		2,728,679,000
LIABILITIES
Borrowings	1,827,461,000		1,716,871,000
Other liabilities	54,114,000		59,697,000
Total liabilities	1,881,575,000		1,776,568,000
Consolidation, Eliminations [Member]
Assets:
Cash and cash equivalents	0		0
Total assets	(32,581,000)
LIABILITIES
Total liabilities	(2,142,000)
Consolidation, Eliminations [Member] | RSO [Member]
Assets:
Loans	0		(558,000)
Other assets	0		(109,000)
LIABILITIES
Borrowings	332,000		205,000
Other liabilities	$ (2,474,000)		$ (2,446,000)

VARIABLE INTEREST ENTITIES RS85

VARIABLE INTEREST ENTITIES RSO Balance Sheets Detail (Non-printing) (Details) - RSO [Member] - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Assets:
Loans, pledged as collateral, allowances	$ 46.3	$ 4.6
Variable interest entity, loans, pledged as collateral, allowance	$ 42.7	$ 3.3

VARIABLE INTEREST ENTITIES RS86

VARIABLE INTEREST ENTITIES RSO Income Statement Detail (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest income:
Interest expense	$ 455	$ 497	$ 876	$ 980
Rental income	1,700	1,578	2,900	2,517
Total revenues	45,996	42,335	88,185	84,951
COSTS AND EXPENSES:
General and administrative - Corporate	4,181	2,729	7,478	5,883
Depreciation and amortization	515	465	972	916
Expenses of consolidated VIE-RSO	71,833	30,576	108,749	57,222
OTHER INCOME (EXPENSE)
Equity in (losses) earnings of unconsolidated entities	2,897	1,047	4,741	1,678
Other income, net, from consolidated VIE - RSO	5,971	10,183	21,913	13,399
Income (loss) from continuing operations before taxes	(19,866)	21,942	1,349	41,128
Income tax (expense) benefit - RSO	(3,775)	(1,735)	(6,866)	(2,820)
NET INCOME (LOSS)	(1,652)	2,718	(1,315)	3,708
RSO [Member]
Interest income:
Loans	29,759	26,219	62,422	46,448
Securities	5,500	3,391	9,552	7,395
Leases	163	0	258	0
Interest income − other	1,119	982	1,951	3,834
Total interest income	36,541	30,592	74,183	57,677
Interest expense	15,803	10,610	30,705	20,238
Net interest income	20,738	19,982	43,478	37,439
Rental income	0	1,507	0	6,659
Dividend income	17	17	33	153
Fee income	3,446	2,322	5,051	4,822
Total revenues	24,201	23,828	48,562	49,073
COSTS AND EXPENSES:
Management fees − related party	3,500	3,314	7,060	6,394
Equity compensation − related party	791	2,032	1,786	3,699
Rental operating expense	0	1,077	6	4,473
Lease operating	24	0	47	0
General and administrative - Corporate	4,067	4,750	8,850	7,589
General and administrative - PCM	6,722	4,138	13,801	7,565
Depreciation and amortization	621	760	1,186	1,596
Impairment losses	0	0	59	0
Provision (recovery) for loan losses	38,810	782	42,800	(3,178)
Total operating expenses	54,535	16,853	75,595	28,138
Reclassification of income tax expense	0	0		0
Expenses of consolidated VIE-RSO	54,535	16,853	75,595	28,138
Adjusted operating income	(30,334)	6,975	(27,033)	20,935
OTHER INCOME (EXPENSE)
Equity in (losses) earnings of unconsolidated entities	662	1,762	1,368	3,776
Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives	9,745	1,648	24,168	3,736
Net realized and unrealized gains (loss) on investment securities, trading	279	(650)	2,353	(2,210)
Unrealized gain (loss) and net interest income on linked transactions, net	0	5,012	235	7,317
(Loss) on reissuance/ gain on extinguishment of debt	(171)	(533)	(1,071)	(602)
(Loss) gain on sale of real estate	22	3,042	0	3,042
Other income (expense)	0	0	0	(1,262)
Other income, net, from consolidated VIE - RSO	10,537	10,281	27,053	13,797
Income (loss) from continuing operations before taxes	(19,797)	17,256	20	34,732
Income tax (expense) benefit - RSO	(2,918)	446	4,765	(430)
NET INCOME (LOSS)	(22,715)	17,702	(4,745)	35,162
Net (loss) income allocated to preferred shares	(6,116)	(3,358)	(12,207)	(5,758)
Net (income) loss allocable to non-controlling interest, net of taxes	(2,180)	333	(4,657)	389
NET INCOME (LOSS) ALLOCABLE TO RSO COMMON SHAREHOLDERS	$ (31,011)	$ 14,677	$ (21,609)	$ 29,793

VARIABLE INTEREST ENTITIES RS87

VARIABLE INTEREST ENTITIES RSO Cash Flow Detail (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 1,652	$ (2,718)	$ 1,315	$ (3,708)
Items included in Change in cash attributable to consolidated VIE-RSO:
Net impairment losses recognized in earnings	4,346		4,346
Equity in net (earnings) losses of unconsolidated subsidiaries	(2,897)	(1,047)	(4,741)	(1,678)
CASH FLOWS FROM INVESTING ACTIVITIES:
Subtotal - Purchase of loans and securities by consolidated VIE-RSO, before eliminations			(2,687)
Acquisition of property and equipment			(352)
Payments on borrowings:
Dividends paid			(2,622)
Net proceeds from issuances of common stock, net of offering costs			1
Increase (decrease) in cash			(3,782)	(7,995)
Cash, beginning of year			27,542	19,853
Cash, end of period	23,760	11,858	23,760	11,858
Supplemental disclosures:
Interest expense paid in cash			948	828
Income taxes paid in cash			1,088	916
RSO [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	22,715	(17,702)	4,745	(35,162)
Items included in Change in cash attributable to consolidated VIE-RSO:
Provision (recovery of) for loan losses	38,810	782	42,800	(3,178)
Depreciation of investments in real estate and other			5,572	1,922
Amortization of stock-based compensation			1,786	3,699
Amortization of (accretion) of terminated derivative instruments			134	142
Accretion (amortization) of interest-only available-for-sales securities			1,868	(339)
Deferred income tax (benefit) expense			(194)	(689)
Sale (purchase) of residential mortgage loans held for sale, net			15,229	(12,162)
Capitalization of residential mortgage servicing rights			(7,848)	0
Sale (purchase) of securities, trading, net			(9,541)	429
Net realized and unrealized loss (gain) on investment securities, trading			(2,353)	2,210
Net realized (gain) loss on sales of investment securities available-for-sale and loans			(24,168)	(2,148)
Loss (gain) on reissuance (extinguishment) of debt			1,071	602
Loss (gain) on sales of real estate			0	(3,042)
Settlement of derivative instruments			12,405	442
Net impairment losses recognized in earnings			59	0
Linked transactions fair value adjustments			(235)	(5,923)
Equity in net (earnings) losses of unconsolidated subsidiaries	(662)	(1,762)	(1,368)	(3,776)
Changes in operating assets and liabilities, net of acquisitions			12,376	979
Net cash provided by (used in) operating activities			47,593	(20,832)
Change in consolidated VIE-RSO cash for the period			(65,105)	95,584
Adjustments to reconcile net income (loss) and operating cash flows to net income (loss) of consolidated VIE-RSO			(17,541)	74,724
Net cash provided by (used in ) operating activities of consolidated VIE-RSO (excluding eliminations)			42,848	14,330
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of loans			(436,440)	(489,800)
Purchase of securities available-for-sale			(11,320)	(107,339)
Principal payments received on loans			209,744	196,973
Proceeds from sale of loans			93,146	44,024
Principal payments on securities available-for-sale			49,819	25,774
Proceeds from sale of securities available-for-sale			37,221	99,151
Principal payments received on loans - related parties			558	1,759
Investment in loans - related parties			0	(244)
(Increase) decrease in restricted cash			57,089	10,543
Return of capital from (investment in) unconsolidated entity			5,000	8,911
Acquisition of controlling interest in Moselle CLO S.A.			0	(30,433)
Proceeds from sale of real estate held-for-sale			44	31,202
Improvements of investments in real estate			0	252
Purchase of furniture and fixtures			(10)	(69)
Acquisition of property and equipment			(228)	(332)
Other investing activity of consolidated VIE-RSO			3,985	9,140
Net cash used in investing activities of consolidated VIE-RSO (excluding eliminations)			4,623	(209,628)
Proceeds from borrowings:
Repurchase agreements, net of repayments			0	142,019
Senior secured revolving credit facility			99,500	0
Securitizations			282,127	43,000
Convertible senior notes			99,000	16,502
Convertible senior notes			12,229	0
Payments on borrowings:
Securitization			(290,190)	(152,556)
Senior secured revolving credit facility			(62,000)	0
Repurchase agreements, net of borrowings			(56,383)	0
Subtotal - net borrowings of debt by consolidated VIE-RSO			84,283	48,965
Dividends paid			(47,070)	(50,885)
Net proceeds from issuances of common stock and dividend reinvestment and stock purchase plan, net of offering costs			129	14,554
Subtotal - net proceeds from issuance of stock by consolidated VIE-RSO			3,159	163,319
Payment of debt issuance costs			(7,986)	(8)
Distributions paid to non-controlling interests			(3,814)	0
Proceeds received from non-controlling interests			2,676	0
Payment of equity to third party sub-note holders			(519)	(799)
Distributions paid on preferred stock			(12,159)	(4,679)
Other financing activity of consolidated VIE - RSO			(21,702)	(5,486)
Net cash provided by financing activities of consolidated VIE-RSO, excluding eliminations			17,634	155,341
Increase (decrease) in cash			65,105	(39,957)
Cash, beginning of year			79,905	262,270
Cash, end of period	145,010	222,313	145,010	222,313
Supplemental disclosures:
Interest expense paid in cash			21,402	17,438
Income taxes paid in cash			9,182	3,249
RSO [Member] | Redeemable Preferred Stock Series A [Member]
Payments on borrowings:
Proceeds from issuance of preferred shares, net of offering costs			3,035	148,765
RSO [Member] | Redeemable Preferred Stock Series B [Member]
Payments on borrowings:
Repurchase of common stock			(5)	0
Reportable Legal Entities [Member] | RSO [Member]
Items included in Change in cash attributable to consolidated VIE-RSO:
Adjustments to reconcile net income (loss) and operating cash flows to net income (loss) of consolidated VIE-RSO			(17,512)	74,752
CASH FLOWS FROM INVESTING ACTIVITIES:
Subtotal - Purchase of loans and securities by consolidated VIE-RSO, before eliminations			(447,760)	(597,139)
Subtotal - principal payments and proceeds from sales received by consolidated VIE-RSO, before eliminations			390,488	367,437
Other investing activity of consolidated VIE-RSO			4,806	9,531
Payments on borrowings:
Dividends paid			(48,006)	(51,457)
Other financing activity of consolidated VIE - RSO			(21,802)	(5,486)
Consolidation, Eliminations [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	(29,158)	14,928	(18,559)	30,350
Items included in Change in cash attributable to consolidated VIE-RSO:
Net impairment losses recognized in earnings	0		0
Equity in net (earnings) losses of unconsolidated subsidiaries	734	$ 0	1,555	0
Changes in operating assets and liabilities, net of acquisitions			(29)
CASH FLOWS FROM INVESTING ACTIVITIES:
Subtotal - Purchase of loans and securities by consolidated VIE-RSO, before eliminations			0
Subtotal - principal payments and proceeds from sales received by consolidated VIE-RSO, before eliminations			0
(Increase) decrease in restricted cash			0
Acquisition of property and equipment			0
Other investing activity of consolidated VIE-RSO			(821)
Payments on borrowings:
Subtotal - net borrowings of debt by consolidated VIE-RSO			0
Dividends paid			0
Net proceeds from issuances of common stock, net of offering costs			0
Other financing activity of consolidated VIE - RSO			100
Increase (decrease) in cash			0
Cash, beginning of year			0
Cash, end of period	$ 0		0
Consolidation, Eliminations [Member] | RSO [Member]
Items included in Change in cash attributable to consolidated VIE-RSO:
Adjustments to reconcile net income (loss) and operating cash flows to net income (loss) of consolidated VIE-RSO			(29)	(28)
CASH FLOWS FROM INVESTING ACTIVITIES:
Other investing activity of consolidated VIE-RSO			(821)	(391)
Payments on borrowings:
Dividends paid			936	572
Other financing activity of consolidated VIE - RSO			$ 100	$ 0

VARIABLE INTEREST ENTITIES RS88

VARIABLE INTEREST ENTITIES RSO Cash Flow Detail (Non-printing) (Details) - RSO [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from dividend reinvestment and stock purchase plan, offering costs	$ 0	$ 0
Common Stock [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Offering costs on stock issuance	0	0
Redeemable Preferred Stock Series A [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Offering costs on stock issuance	$ 0	0
Preferred stock, coupon authorized	8.50%
Redeemable Preferred Stock Series B [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Offering costs on stock issuance	$ 111	$ 565
Preferred stock, coupon authorized	8.25%

VARIABLE INTEREST ENTITIES VARI

VARIABLE INTEREST ENTITIES VARIABLE INTEREST ENTITIES (Details) RSO	Jul. 29, 2014USD ($)	Nov. 16, 2011USD ($)shares	Feb. 28, 2014	May. 31, 2013	Feb. 28, 2013Entity	Oct. 31, 2012	Feb. 28, 2011USD ($)Entity	Jun. 30, 2015USD ($)EntityPosition	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)EntitycreditPosition	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)shares	Apr. 30, 2015USD ($)
Variable Interest Entity [Line Items]
Borrowings								$ 21,029,000		$ 21,029,000		$ 20,412,000
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Maximum Exposure to Loss in Non-consolidated VIEs								5,142,000		5,142,000
RSO [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents								189,000		189,000		25,000
Restricted cash								43,954,000		43,954,000		121,247,000
Investments securities available-for-sale, pledged as collateral, at fair value								84,858,000		$ 84,858,000		119,203,000
Number Of Credits Supported In VIEs | credit										2
Investments in unconsolidated entities								56,150,000		$ 56,150,000		59,827,000	$ 750,000
Borrowings								1,827,793,000		1,827,793,000		1,717,076,000
Intangible assets								24,370,000		24,370,000		18,610,000
Fee income								3,446,000	$ 2,322,000	5,051,000	$ 4,822,000
Preferred equity acquired						66.60%
Loans, pledged as collateral and net of allowances of $42.7 million and $3.3 million								1,352,546,000		1,352,546,000		1,261,137,000
Loans held for sale								6,027,000		6,027,000		282,000
Interest receivable								5,468,000		5,468,000		8,941,000
Prepaid expenses								182,000		182,000		221,000
Principal paydown receivable								0		0		25,767,000
Other assets								9,000		9,000		(12,000)
Variable Interest Entity, Consolidated, Carrying Amount, Assets								1,493,233,000		1,493,233,000		1,536,811,000
Borrowings								1,047,172,000		1,047,172,000		1,046,494,000
Accrued interest expense								852,000		852,000		1,000,000
Derivatives, at fair value								5,946,000		5,946,000		8,439,000
Unsettled loan purchases								(529,000)		(529,000)		(529,000)
Accounts payable and other liabilities								190,000		190,000		(386,000)
Total liabilities of consolidated VIE-RSO								1,053,631,000		1,053,631,000		1,055,018,000
RSO [Member] | Series B Preferred Stock [Member]
Variable Interest Entity [Line Items]
Preferred stock, coupon authorized		8.00%
RSO [Member] | Investment in RCAM [Member]
Variable Interest Entity [Line Items]
Number of CLOs held by purchased entity | Entity							5
Acquisition							$ 22,500,000
Intangible assets								8,500,000		8,500,000		9,400,000
Fee income								896,000	1,100,000	1,900,000	2,800,000
RSO [Member] | RSO [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Carrying Amount, Restricted Cash and Cash Equivalents, Available for Reinvestment in Certain Collateralized Debt Obligations								$ 2,100,000		$ 2,100,000
Number of consolidated VIEs | Entity								12		12
Cash and cash equivalents								$ 189,000		$ 189,000
Restricted cash								43,954,000		43,954,000
Investments securities available-for-sale, pledged as collateral, at fair value								84,858,000		84,858,000
Financial support provided to VIEs									$ 10,000	0	$ 549,000
Loans, pledged as collateral and net of allowances of $42.7 million and $3.3 million								1,352,546,000		1,352,546,000
Loans held for sale								6,027,000		6,027,000
Interest receivable								5,468,000		5,468,000
Prepaid expenses								182,000		182,000
Principal paydown receivable								0		0
Other assets								9,000		9,000
Variable Interest Entity, Consolidated, Carrying Amount, Assets								1,493,233,000		1,493,233,000
Borrowings								1,047,172,000		1,047,172,000
Accrued interest expense								852,000		852,000
Derivatives, at fair value								5,946,000		5,946,000
Unsettled loan purchases								(529,000)		(529,000)
Accounts payable and other liabilities								190,000		190,000
Total liabilities of consolidated VIE-RSO								1,053,631,000		1,053,631,000
RSO [Member] | RSO [Member] | Apidos CDO I Ltd. [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents								0		0
Restricted cash								347,000		347,000
Investments securities available-for-sale, pledged as collateral, at fair value								0		0
Loans, pledged as collateral and net of allowances of $42.7 million and $3.3 million								0		0
Loans held for sale								153,000		153,000
Interest receivable								0		0
Prepaid expenses								0		0
Principal paydown receivable								0		0
Other assets								0		0
Variable Interest Entity, Consolidated, Carrying Amount, Assets								500,000		500,000
Borrowings								0		0
Accrued interest expense								0		0
Derivatives, at fair value								0		0
Unsettled loan purchases								0		0
Accounts payable and other liabilities								0		0
Total liabilities of consolidated VIE-RSO								0		0
RSO [Member] | RSO [Member] | Moselle [Member]
Variable Interest Entity [Line Items]
Payments to Acquire Equity Method Investments										30,400,000
Cash and cash equivalents								0		0
Restricted cash								557,000		557,000
Investments securities available-for-sale, pledged as collateral, at fair value								0		0
Loans, pledged as collateral and net of allowances of $42.7 million and $3.3 million								0		0
Loans held for sale								0		0
Interest receivable								0		0
Prepaid expenses								0		0
Principal paydown receivable								0		0
Other assets								0		0
Variable Interest Entity, Consolidated, Carrying Amount, Assets								557,000		557,000
Borrowings								159,000		159,000
Accrued interest expense								0		0
Derivatives, at fair value								0		0
Unsettled loan purchases								0		0
Accounts payable and other liabilities								161,000		161,000
Total liabilities of consolidated VIE-RSO								320,000		320,000
RSO [Member] | RSO [Member] | RCM Global Manager, LLC [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents								189,000		189,000
Restricted cash								0		0
Investments securities available-for-sale, pledged as collateral, at fair value								12,288,000		12,288,000
Loans, pledged as collateral and net of allowances of $42.7 million and $3.3 million								0		0
Loans held for sale								0		0
Interest receivable								(298,000)		(298,000)
Prepaid expenses								0		0
Principal paydown receivable								0		0
Other assets								0		0
Variable Interest Entity, Consolidated, Carrying Amount, Assets								12,179,000		12,179,000
Borrowings								0		0
Accrued interest expense								0		0
Derivatives, at fair value								0		0
Unsettled loan purchases								(529,000)		(529,000)
Accounts payable and other liabilities								2,000		2,000
Total liabilities of consolidated VIE-RSO								(527,000)		(527,000)
RSO [Member] | RSO [Member] | Investment in RCAM [Member]
Variable Interest Entity [Line Items]
Preferred equity acquired				68.30%		66.60%
RSO [Member] | RSO [Member] | Apidos CDO III Ltd. [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents								0		0
Restricted cash								3,613,000		3,613,000
Investments securities available-for-sale, pledged as collateral, at fair value								0		0
Loans, pledged as collateral and net of allowances of $42.7 million and $3.3 million								0		0
Loans held for sale								1,358,000		1,358,000
Interest receivable								0		0
Prepaid expenses								10,000		10,000
Principal paydown receivable								0		0
Other assets								0		0
Variable Interest Entity, Consolidated, Carrying Amount, Assets								4,981,000		4,981,000
Borrowings								0		0
Accrued interest expense								0		0
Derivatives, at fair value								0		0
Unsettled loan purchases								0		0
Accounts payable and other liabilities								3,000		3,000
Total liabilities of consolidated VIE-RSO								3,000		3,000
RSO [Member] | RSO [Member] | Apidos Cinco CDO Ltd [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents								0		0
Restricted cash								37,231,000		37,231,000
Investments securities available-for-sale, pledged as collateral, at fair value								10,268,000		10,268,000
Loans, pledged as collateral and net of allowances of $42.7 million and $3.3 million								180,758,000		180,758,000
Loans held for sale								4,516,000		4,516,000
Interest receivable								734,000		734,000
Prepaid expenses								24,000		24,000
Principal paydown receivable								0		0
Other assets								0		0
Variable Interest Entity, Consolidated, Carrying Amount, Assets								233,531,000		233,531,000
Borrowings								208,893,000		208,893,000
Accrued interest expense								253,000		253,000
Derivatives, at fair value								0		0
Unsettled loan purchases								0		0
Accounts payable and other liabilities								14,000		14,000
Total liabilities of consolidated VIE-RSO								209,160,000		209,160,000
RSO [Member] | RSO [Member] | Whitney CLO I, Ltd. [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents								0		0
Restricted cash								116,000		116,000
Investments securities available-for-sale, pledged as collateral, at fair value								0		0
Loans, pledged as collateral and net of allowances of $42.7 million and $3.3 million								0		0
Loans held for sale								0		0
Interest receivable								0		0
Prepaid expenses								0		0
Principal paydown receivable								0		0
Other assets								0		0
Variable Interest Entity, Consolidated, Carrying Amount, Assets								116,000		116,000
Borrowings								0		0
Accrued interest expense								0		0
Derivatives, at fair value								0		0
Unsettled loan purchases								0		0
Accounts payable and other liabilities								0		0
Total liabilities of consolidated VIE-RSO								0		0
RSO [Member] | RSO [Member] | Resource Real Estate Funding CDO 2006-1 [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents								0		0
Restricted cash								20,000		20,000
Investments securities available-for-sale, pledged as collateral, at fair value								5,854,000		5,854,000
Loans, pledged as collateral and net of allowances of $42.7 million and $3.3 million								94,504,000		94,504,000
Loans held for sale								0		0
Interest receivable								374,000		374,000
Prepaid expenses								15,000		15,000
Principal paydown receivable								0		0
Other assets								0		0
Variable Interest Entity, Consolidated, Carrying Amount, Assets								100,767,000		100,767,000
Borrowings								57,205,000		57,205,000
Accrued interest expense								33,000		33,000
Derivatives, at fair value								346,000		346,000
Unsettled loan purchases								0		0
Accounts payable and other liabilities								9,000		9,000
Total liabilities of consolidated VIE-RSO								57,593,000		57,593,000
RSO [Member] | RSO [Member] | Resource Real Estate Funding CDO 2007-1 [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents								0		0
Restricted cash								250,000		250,000
Investments securities available-for-sale, pledged as collateral, at fair value								56,448,000		56,448,000
Loans, pledged as collateral and net of allowances of $42.7 million and $3.3 million								190,911,000		190,911,000
Loans held for sale								0		0
Interest receivable								1,302,000		1,302,000
Prepaid expenses								95,000		95,000
Principal paydown receivable								0		0
Other assets								0		0
Variable Interest Entity, Consolidated, Carrying Amount, Assets								249,006,000		249,006,000
Borrowings								125,055,000		125,055,000
Accrued interest expense								97,000		97,000
Derivatives, at fair value								5,600,000		5,600,000
Unsettled loan purchases								0		0
Accounts payable and other liabilities								1,000		1,000
Total liabilities of consolidated VIE-RSO								130,753,000		130,753,000
RSO [Member] | RSO [Member] | RCC CRE Notes 2013 [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents								0		0
Restricted cash								1,815,000		1,815,000
Investments securities available-for-sale, pledged as collateral, at fair value								0		0
Loans, pledged as collateral and net of allowances of $42.7 million and $3.3 million								192,480,000		192,480,000
Loans held for sale								0		0
Interest receivable								792,000		792,000
Prepaid expenses								28,000		28,000
Principal paydown receivable								0		0
Other assets								0		0
Variable Interest Entity, Consolidated, Carrying Amount, Assets								195,115,000		195,115,000
Borrowings								145,786,000		145,786,000
Accrued interest expense								132,000		132,000
Derivatives, at fair value								0		0
Unsettled loan purchases								0		0
Accounts payable and other liabilities								0		0
Total liabilities of consolidated VIE-RSO								145,918,000		145,918,000
RSO [Member] | RSO [Member] | RCC CRE Notes 2014 [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents								0		0
Restricted cash								0		0
Investments securities available-for-sale, pledged as collateral, at fair value								0		0
Loans, pledged as collateral and net of allowances of $42.7 million and $3.3 million								351,301,000		351,301,000
Loans held for sale								0		0
Interest receivable								1,324,000		1,324,000
Prepaid expenses								10,000		10,000
Principal paydown receivable								0		0
Other assets								9,000		9,000
Variable Interest Entity, Consolidated, Carrying Amount, Assets								352,644,000		352,644,000
Borrowings								231,846,000		231,846,000
Accrued interest expense								125,000		125,000
Derivatives, at fair value								0		0
Unsettled loan purchases								0		0
Accounts payable and other liabilities								0		0
Total liabilities of consolidated VIE-RSO								231,971,000		231,971,000
RSO [Member] | RSO [Member] | RCC CRE Notes 2015 [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents								0		0
Restricted cash								5,000		5,000
Investments securities available-for-sale, pledged as collateral, at fair value								0		0
Loans, pledged as collateral and net of allowances of $42.7 million and $3.3 million								342,592,000		342,592,000
Loans held for sale								0		0
Interest receivable								1,240,000		1,240,000
Prepaid expenses								0		0
Principal paydown receivable								0		0
Other assets								0		0
Variable Interest Entity, Consolidated, Carrying Amount, Assets								343,837,000		343,837,000
Borrowings								278,228,000		278,228,000
Accrued interest expense								212,000		212,000
Derivatives, at fair value								0		0
Unsettled loan purchases								0		0
Accounts payable and other liabilities								0		0
Total liabilities of consolidated VIE-RSO								278,440,000		$ 278,440,000
RSO [Member] | RCM Global Manager, LLC [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE										45.90%
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Nonconsolidated, Carrying Amount, Investment in Unconsolidated Entities								51,594,000		$ 51,594,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Finite-Lived Intangible Assets, Net								8,542,000		8,542,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets								60,136,000		60,136,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Borrowed Funds								51,308,000		51,308,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities								51,308,000		51,308,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net								8,828,000		$ 8,828,000
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | LEAF [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE		26.70%								28.40%
Variable Interest Entity, Nonconsolidated, Carrying Amount, Investment in Unconsolidated Entities								39,818,000		$ 39,818,000
Investments in unconsolidated entities		$ 36,300,000						$ 39,800,000		$ 39,800,000		39,400,000
Variable interest entity, number of board positions held by the company | Position								2		2
Variable interest entity, total number of board positions | Position								6		6
Variable Interest Entity, Nonconsolidated, Carrying Amount, Finite-Lived Intangible Assets, Net								$ 0		$ 0
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets								39,818,000		39,818,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Borrowed Funds								0		0
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities								0		0
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net								39,818,000		$ 39,818,000
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | LEAF [Member] | Series A Preferred Stock [Member]
Variable Interest Entity [Line Items]
Payments to Acquire Equity Method Investments												$ 3,700,000
Shares received in equity method transaction (in shares) | shares		31,341
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | LEAF [Member] | Series B Preferred Stock [Member]
Variable Interest Entity [Line Items]
Shares received in equity method transaction (in shares) | shares		4,872
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | LEAF [Member] | Series D Preferred Stock [Member]
Variable Interest Entity [Line Items]
Shares received in equity method transaction (in shares) | shares		2,364
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | LEAF [Member] | Series A1 Preferred Stock [Member]
Variable Interest Entity [Line Items]
Shares received in equity method transaction (in shares) | shares												3,682
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | LEAF [Member] | Series E Preferred Stock [Member]
Variable Interest Entity [Line Items]
Payments to Acquire Equity Method Investments												$ 4,400,000
Shares received in equity method transaction (in shares) | shares												4,445
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Investment in RCT I and RCT II [Member]
Variable Interest Entity [Line Items]
Ownership percentage in VIE										100.00%
Investments in unconsolidated entities								$ 1,500,000		$ 1,500,000
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Interest in RCT I [Member]
Variable Interest Entity [Line Items]
Percentage of total value of trusts owned								3.00%		3.00%
Borrowings								$ 25,800,000		$ 25,800,000
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Interest in RCT II [Member]
Variable Interest Entity [Line Items]
Percentage of total value of trusts owned								3.00%		3.00%
Borrowings								$ 25,800,000		$ 25,800,000
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Investment in RCAM [Member]
Variable Interest Entity [Line Items]
Number of CLOs held by purchased entity | Entity							4
Number of Collateralized Loan Obligations Liquidated | Entity					1
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Unsecured Junior Subordinated Debentures [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Nonconsolidated, Carrying Amount, Investment in Unconsolidated Entities								1,548,000		1,548,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Finite-Lived Intangible Assets, Net								0		0
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets								1,548,000		1,548,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Borrowed Funds								51,308,000		51,308,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities								51,308,000		51,308,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net								(49,760,000)		(49,760,000)
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Resource Capital Asset Management [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Nonconsolidated, Carrying Amount, Investment in Unconsolidated Entities								0		0
Variable Interest Entity, Nonconsolidated, Carrying Amount, Finite-Lived Intangible Assets, Net								8,542,000		8,542,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets								8,542,000		8,542,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Borrowed Funds								0		0
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities								0		0
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net								8,542,000		8,542,000
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ZAIS [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Nonconsolidated, Carrying Amount, Investment in Unconsolidated Entities								10,228,000		10,228,000
Investments in unconsolidated entities								8,300,000		8,300,000
Investment Maximum								10,000,000		10,000,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Finite-Lived Intangible Assets, Net								0		0
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets								10,228,000		10,228,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Borrowed Funds								0		0
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities								0		0
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net								10,228,000		10,228,000
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Pelium [Member]
Variable Interest Entity [Line Items]
Investments in unconsolidated entities								1,800,000		1,800,000
Investment Maximum								3,000,000		3,000,000
Class 1 Subordinated Notes [Member] | RSO [Member] | Moselle [Member]
Variable Interest Entity [Line Items]
Percentage of Outstanding Notes Purchased			100.00%
Class 2 Subordinated Notes [Member] | RSO [Member] | Moselle [Member]
Variable Interest Entity [Line Items]
Percentage of Outstanding Notes Purchased			67.90%
RCC Residential, Inc. [Member] | RSO [Member]
Variable Interest Entity [Line Items]
Payments to Acquire Equity Method Investments	$ 15,000,000
Payments to Acquire Businesses and Interest in Affiliates	$ 23,500,000
Ownership percentage	63.80%
Investments in Unconsolidated Entities [Member] | RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Maximum Exposure to Loss in Non-consolidated VIEs								51,594,000		51,594,000
Finite-Lived Intangible Assets, Net [Member] | RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Maximum Exposure to Loss in Non-consolidated VIEs								$ 8,542,000		$ 8,542,000

VARIABLE INTEREST ENTITIES SUPP

VARIABLE INTEREST ENTITIES SUPPLEMENTAL CASH FLOW INFORMATION (Details) RSO - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Non-cash financing activities include the following:
Dividends	$ 1,355		$ 1,312
Issuance of restricted stock	3,900	$ 3,700
RSO [Member]
Class of Stock [Line Items]
Assumption of direct financing leases and other assets	48,605	0
Non-cash financing activities include the following:
Issuance of restricted stock	1,158	646
Contribution of equipment-backed securitized notes and other liabilities	33,377	0
RSO [Member] | Common Stock [Member]
Non-cash financing activities include the following:
Dividends	21,426	26,179
RSO [Member] | Redeemable Preferred Stock [Member]
Non-cash financing activities include the following:
Dividends	$ 4,078	$ 4,353

VARIABLE INTEREST ENTITIES INVE

VARIABLE INTEREST ENTITIES INVESTMENT SECURITIES TRADING (Details) RSO $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)Security	Jun. 30, 2014USD ($)Security	Dec. 31, 2014USD ($)Security
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	$ 281		$ 475
Trading Securities, Number Sold | Security	10	1
Trading Securities, Realized Gain		$ 379,000
RSO [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Amortized Cost	$ 34,415		24,772
Unrealized Gains	3,027		1,098
Unrealized Losses	(4,762)		(5,084)
Fair Value	32,680		$ 20,786
Trading Securities, Realized Gain	$ 621
Number of trading securities held | Security	47		37
Structured notes [Member] | RSO [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Amortized Cost	$ 32,519		$ 22,876
Unrealized Gains	3,027		1,098
Unrealized Losses	(2,866)		(3,188)
Fair Value	32,680		20,786
RMBS [Member] | RSO [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Amortized Cost	1,896		1,896
Unrealized Gains	0		0
Unrealized Losses	(1,896)		(1,896)
Fair Value	$ 0		$ 0

VARIABLE INTEREST ENTITIES IN92

VARIABLE INTEREST ENTITIES INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Estimated Maturities of Available-For-Sale Securities) (Details) RSO - RSO [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value
Less than one year	$ 108,353	$ 78,095
Greater than one year and less than five years	95,677	115,302
Greater than five years and less than ten years	17,522	20,177
Greater than ten years	31,876	62,146
Total	253,428	275,720
Amortized Cost
Less than one year	107,588	79,649
Greater than one year and less than five years	88,814	100,909
Greater than five years and less than ten years	16,245	17,516
Greater than ten years	28,632	58,441
Total	$ 241,279	$ 256,515
Weighted Average Coupon
Less than one year	6.72%	4.13%
Greater than one year and less than five years	6.94%	4.64%
Greater than five years	13.43%	16.45%
Weighted average coupon rate, greater than ten years	9.05%	7.86%
Total	7.56%	6.08%

VARIABLE INTEREST ENTITIES IN93

VARIABLE INTEREST ENTITIES INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Gross Unrealized Loss and Fair Value of Securities) (Details) RSO $ in Thousands	Jun. 30, 2015USD ($)Security	Dec. 31, 2014USD ($)Security
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value	$ 1,193	$ 2,643
Unrealized Losses, Less than 12 Months	(34)	(176)
Fair Value	0	0
Unrealized Losses, More than 12 Months	0	0
RSO [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value	35,548	38,307
Unrealized Losses, Less than 12 Months	$ (830)	$ (851)
Number of Securities, Less than 12 Months | Security	37	31
Fair Value	$ 21,115	$ 26,541
Unrealized Losses, More than 12 Months	$ (1,007)	$ (2,705)
Number of Securities, More than 12 Months | Security	13	16
Fair Value, Total	$ 56,663	$ 64,848
Gross Unrealized Losses, Total	$ (1,837)	$ (3,556)
Number of Securities, Total | Security	50	47
RSO [Member] | CMBS [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value	$ 31,158	$ 35,860
Unrealized Losses, Less than 12 Months	$ (246)	$ (555)
Number of Securities, Less than 12 Months | Security	24	22
Fair Value	$ 18,989	$ 25,583
Unrealized Losses, More than 12 Months	$ (945)	$ (2,647)
Number of Securities, More than 12 Months | Security	10	13
Fair Value, Total	$ 50,147	$ 61,443
Gross Unrealized Losses, Total	$ (1,191)	$ (3,202)
Number of Securities, Total | Security	34	35
RSO [Member] | ABS [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value	$ 3,258	$ 1,000
Unrealized Losses, Less than 12 Months	$ (524)	$ (278)
Number of Securities, Less than 12 Months | Security	11	8
Fair Value	$ 691	$ 958
Unrealized Losses, More than 12 Months	$ (29)	$ (58)
Number of Securities, More than 12 Months | Security	2	3
Fair Value, Total	$ 3,949	$ 1,958
Gross Unrealized Losses, Total	$ (553)	$ (336)
Number of Securities, Total | Security	13	11
RSO [Member] | Corporate bonds [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value	$ 0	$ 1,447
Unrealized Losses, Less than 12 Months	$ 0	$ (18)
Number of Securities, Less than 12 Months | Security	0	1
Fair Value	$ 1,435	$ 0
Unrealized Losses, More than 12 Months	$ (33)	$ 0
Number of Securities, More than 12 Months | Security	1	0
Fair Value, Total	$ 1,435	$ 1,447
Gross Unrealized Losses, Total	$ (33)	$ (18)
Number of Securities, Total | Security	1	1
RSO [Member] | RMBS [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value	$ 1,132
Unrealized Losses, Less than 12 Months	$ (60)
Number of Securities, Less than 12 Months | Security	2
Fair Value	$ 0
Unrealized Losses, More than 12 Months	$ 0
Number of Securities, More than 12 Months | Security	0
Fair Value, Total	$ 1,132
Gross Unrealized Losses, Total	$ (60)
Number of Securities, Total | Security	2

VARIABLE INTEREST ENTITIES IN94

VARIABLE INTEREST ENTITIES INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Sales of Available-for-sale Securities) (Details) RSO - RSO [Member] $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2015USD ($)Security	Jun. 30, 2015USD ($)Security	Dec. 31, 2014USD ($)Security
CMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Positions Sold | Security			3
Par Amount Sold			$ 15,970
Realized Gain (Loss)			$ 480
ABS [Member]
Schedule of Available-for-sale Securities [Line Items]
Positions Sold | Security		3
Par Amount Sold		$ 3,626
Realized Gain (Loss)		$ 1,838
RMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Positions Sold | Security	6
Par Amount Sold	$ 28,305
Realized Gain (Loss)	$ 984

VARIABLE INTEREST ENTITIES IN95

VARIABLE INTEREST ENTITIES INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Details) RSO	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)Security	Jun. 30, 2014USD ($)Security	Jun. 30, 2015USD ($)Security	Jun. 30, 2014USD ($)Security	Dec. 31, 2014USD ($)Security
Schedule of Available-for-sale Securities [Line Items]
Fair Value	$ 0		$ 0		$ 0
Fair Value	1,193,000		1,193,000		2,643,000
Unrealized Losses	(34,000)		(34,000)		(176,000)
Available-for-sale securities	10,589,000		10,589,000		9,065,000
Available-for-sale Securities, Amortized Cost Basis	8,795,000		8,795,000		7,850,000
Unrealized Losses	34,000		34,000		176,000
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0		0		0
RSO [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Total	56,663,000		56,663,000		64,848,000
Fair Value	21,115,000		21,115,000		26,541,000
Fair Value	35,548,000		35,548,000		38,307,000
Less than one year	108,353,000		108,353,000		78,095,000
Unrealized Losses	(1,837,000)		(1,837,000)		(3,556,000)
Available-for-sale securities	253,428,000		253,428,000		275,720,000
Available-for-sale Securities, Amortized Cost Basis	241,279,000		241,279,000		256,515,000
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	13,986,000		13,986,000		22,761,000
Investment securities available-for-sale, pledged as collateral, at fair value	170,935,000		170,935,000		197,800,000
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis	$ 107,588,000		$ 107,588,000		$ 79,649,000
Less than one year	6.72%		6.72%		4.13%
Greater than one year and less than five years	$ 95,677,000		$ 95,677,000		$ 115,302,000
Greater than one year and less than five years	$ 88,814,000		$ 88,814,000		$ 100,909,000
Greater than one year and less than five years	6.94%		6.94%		4.64%
Greater than five years and less than ten years	$ 17,522,000		$ 17,522,000		$ 20,177,000
Greater than five years and less than ten years	$ 16,245,000		$ 16,245,000		$ 17,516,000
Greater than five years	13.43%		13.43%		16.45%
Greater than ten years	$ 31,876,000		$ 31,876,000		$ 62,146,000
Greater than ten years	$ 28,632,000		$ 28,632,000		$ 58,441,000
Weighted average coupon rate, greater than ten years	9.05%		9.05%		7.86%
Available for sale Securities, Debt Maturities, Total, Fair Value	$ 253,428,000		$ 253,428,000		$ 275,720,000
Available-for-sale Debt Securities, Amortized Cost Basis	$ 241,279,000		$ 241,279,000		$ 256,515,000
Total	7.56%		7.56%		6.08%
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 1,837,000		$ 1,837,000		$ 3,556,000
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security	50		50		47
Unrealized Losses	$ 830,000		$ 830,000		$ 851,000
Number of Securities, Less than 12 Months | Security	37		37		31
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 1,007,000		$ 1,007,000		$ 2,705,000
Number of Securities, More than 12 Months | Security	13		13		16
RSO [Member] | CMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Total	$ 50,147,000		$ 50,147,000		$ 61,443,000
Fair Value	18,989,000		18,989,000		25,583,000
Fair Value	31,158,000		31,158,000		35,860,000
Unrealized Losses	(1,191,000)		(1,191,000)		(3,202,000)
Available-for-sale securities	185,322,000		185,322,000		170,405,000
Available-for-sale Securities, Amortized Cost Basis	181,399,000		181,399,000		168,669,000
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	5,114,000		5,114,000		4,938,000
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 1,191,000		$ 1,191,000		$ 3,202,000
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security	34		34		35
Unrealized Losses	$ 246,000		$ 246,000		$ 555,000
Number of Securities, Less than 12 Months | Security	24		24		22
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 945,000		$ 945,000		$ 2,647,000
Number of Securities, More than 12 Months | Security	10		10		13
RSO [Member] | ABS [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Total	$ 3,949,000		$ 3,949,000		$ 1,958,000
Fair Value	691,000		691,000		958,000
Fair Value	3,258,000		3,258,000		1,000,000
Unrealized Losses	(553,000)		(553,000)		(336,000)
Available-for-sale securities	63,241,000		63,241,000		72,157,000
Available-for-sale Securities, Amortized Cost Basis	55,039,000		55,039,000		55,617,000
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	$ 8,755,000		$ 8,755,000		16,876,000
Number of securities redeemed | Security	1	1	1	1
Par value of securities redeemed	$ 400,000	$ 2,500,000	$ 400,000	$ 2,500,000
Realized gains on redemption	0		0	$ 25,500
Available-for-sale Securities, Gross Realized Losses on Redemption		$ 0
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 553,000		$ 553,000		$ 336,000
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security	13		13		11
Unrealized Losses	$ 524,000		$ 524,000		$ 278,000
Number of Securities, Less than 12 Months | Security	11		11		8
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 29,000		$ 29,000		$ 58,000
Number of Securities, More than 12 Months | Security	2		2		3
RSO [Member] | Corporate bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Total	$ 1,435,000		$ 1,435,000		$ 1,447,000
Fair Value	1,435,000		1,435,000		0
Fair Value	0		0		1,447,000
Unrealized Losses	(33,000)		(33,000)		(18,000)
Available-for-sale securities	2,391,000		2,391,000		2,407,000
Available-for-sale Securities, Amortized Cost Basis	2,419,000		2,419,000		2,415,000
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	$ 5,000		$ 5,000		10,000
Number of securities redeemed | Security	0	1	0	1
Par value of securities redeemed	$ 0	$ 630,000	$ 0	$ 630,000
Available-for-sale Securities, Gross Realized Losses on Redemption	0	$ 1,000	0	$ (1,000)
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 33,000		$ 33,000		$ 18,000
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security	1		1		1
Unrealized Losses	$ 0		$ 0		$ 18,000
Number of Securities, Less than 12 Months | Security	0		0		1
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 33,000		$ 33,000		$ 0
Number of Securities, More than 12 Months | Security	1		1		0
RSO [Member] | RMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Total	$ 1,132,000		$ 1,132,000
Fair Value	0		0
Fair Value	1,132,000		1,132,000
Unrealized Losses	(60,000)		(60,000)		$ 0
Available-for-sale securities	2,474,000		2,474,000		30,751,000
Available-for-sale Securities, Amortized Cost Basis	2,422,000		2,422,000		29,814,000
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	112,000		112,000		$ 937,000
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 60,000		$ 60,000
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security	2		2
Unrealized Losses	$ 60,000		$ 60,000
Number of Securities, Less than 12 Months | Security	2		2
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 0		$ 0
Number of Securities, More than 12 Months | Security	0		0

VARIABLE INTEREST ENTITIES IN96

VARIABLE INTEREST ENTITIES INVESTMENTS IN REAL ESTATE (Details) RSO - RSO [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Real Estate Line Items [Line Items]
Investment securities available-for-sale, pledged as collateral, at fair value	$ 170,935		$ 197,800
Property held for sale	180		$ 180
Gain on sale of properties	$ 0	$ 3,042

VARIABLE INTEREST ENTITIES LOAN

VARIABLE INTEREST ENTITIES LOANS HELD FOR INVESTMENT (Summary of Loans) (Details) RSO - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal, allowance for loan loss	$ (17,667)	$ (17,360)	$ (16,990)	$ (39,030)	$ (37,451)	$ (36,243)
RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal, loans before allowances	2,098,851		1,940,406
Unamortized (Discount) Premium, loans before allowances	(9,647)		(9,813)
Carrying Value, loans before allowances	2,089,204		1,930,593
Principal, allowance for loan loss	(46,319)		(4,613)
Unamortized (Discount) Premium, allowance for loan loss	0		0
Carrying Value, allowance for loan loss	(46,319)		(4,613)
Principal, Total	2,052,532		1,935,793
Unamortized (discount) premium, Loans Held for Investment, net	(9,647)		(9,813)
Unamortized (Discount) Premium, Total	(9,647)		(9,813)
Carrying Value, Total	2,042,885		1,925,980
Loans Receivable Held-for-sale, Amount	111,122		111,736
Loans Receivable Held-for-sale, Amount, Carrying Value	111,122		111,736
Unamortized (discount) premium, Loans Held for Sale	0		0
Financing Receivable, Net and Loans Receivable Held-for-sale	2,163,654		2,047,529
Net Carrying Value of Loans Held for Investment and Loans Held for Sale	2,154,007		2,037,716
Deferred amendment fees	53		88
Agency-Conforming [Member] | RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable Held-for-sale, Amount	64,800		28,900
Jumbo Mortgage Loans [Member] | RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable Held-for-sale, Amount	40,300		82,600
Residential Mortgage Loans [Member] | RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unamortized (Discount) Premium, loans before allowances	0
Loans Receivable Held-for-sale, Amount	105,094		111,454
Whole Loans [Member] | RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal, Total	1,502,603		1,263,592
B Notes [Member] | RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal, Total	15,997		16,072
Mezzanine Loans [Member] | RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal, Total	54,822		67,366
Commercial Real Estate Loans [Member] | RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan origination fees	8,200		7,600
Bank Loans [Member] | RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal, Total	187,785		330,930
Deferred upfront fee	27		82
Middle-market Loans [Member] | RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal, loans before allowances	331,822		250,859
Unamortized (Discount) Premium, loans before allowances	(827)		(746)
Carrying Value, loans before allowances	330,995		250,113
Residential Mortgage Loans [Member] | RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal, loans before allowances	3,030		2,802
Unamortized (Discount) Premium, loans before allowances	0		0
Carrying Value, loans before allowances	3,030		2,802
Loans Receivable Held-for-sale, Amount	105,094		111,454
Bank Loans [Member] | RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal, loans before allowances	182,338		332,058
Unamortized (Discount) Premium, loans before allowances	(581)		(1,410)
Carrying Value, loans before allowances	181,757		330,648
Loans Receivable Held-for-sale, Amount	6,028		282
Commercial Real Estate Loans [Member] | RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal, loans before allowances	1,581,661		1,354,687
Unamortized (Discount) Premium, loans before allowances	(8,239)		(7,657)
Carrying Value, loans before allowances	1,573,422		1,347,030
Commercial Real Estate Loans [Member] | Mezzanine Loans [Member] | RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal, loans before allowances	54,821		67,446
Unamortized (Discount) Premium, loans before allowances	1		(80)
Carrying Value, loans before allowances	54,822		67,366
Commercial Real Estate Loans [Member] | B Notes [Member] | RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal, loans before allowances	16,026		16,120
Unamortized (Discount) Premium, loans before allowances	(29)		(48)
Carrying Value, loans before allowances	15,997		16,072
Commercial Real Estate Loans [Member] | Whole Loans [Member] | RSO [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal, loans before allowances	1,510,814		1,271,121
Unamortized (Discount) Premium, loans before allowances	(8,211)		(7,529)
Carrying Value, loans before allowances	$ 1,502,603		$ 1,263,592

VARIABLE INTEREST ENTITIES LO98

VARIABLE INTEREST ENTITIES LOANS HELD FOR INVESTMENT (Weighted Average Life of Middle-Market and Bank Loans, at Amortized Cost) (Details) RSO - RSO [Member] - Bank Loans [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less than one year	$ 6,580	$ 7,829
Greater than one year and less than five years	175,208	274,332
Five years or greater	5,997	48,769
Loans held for investment, amortized cost	$ 187,785	$ 330,930

VARIABLE INTEREST ENTITIES LO99

VARIABLE INTEREST ENTITIES LOANS HELD FOR INVESTMENT (Commercial Real Estate Loans Held for Investment) (Details) RSO - RSO [Member]	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)Loan	Jun. 30, 2015USD ($)Loan	Jun. 30, 2014	Dec. 31, 2014USD ($)Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal paydown receivable	$ 11,525,000	$ 11,525,000		$ 40,920,000
Stated interest rate	10.00%	10.00%
Allowance for loan loss	$ 46,319,000	$ 46,319,000		4,613,000
Provision (recovery) for loan losses		42,800,000		1,804,000
Interest receivable	12,046,000	12,046,000		16,260,000
Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision (recovery) for loan losses	38,100,000	38,072,000		$ (3,758,000)
Interest receivable	$ 0	$ 0
Whole Loans, Fixed Rate, Loan One [Member] [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fixed contractual interest in floating rate whole loan	12.00%	12.00%		12.00%
Mezzanine Loans, Fixed Rate, Tranche Two [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Variable rate basis			LIBOR
Basis spread on variable rate				18.50%
Stated interest rate	0.50%	0.50%
Preferred equity tranche [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortized Cost	$ 799,000	$ 799,000
Fixed preferred equity interest in floating rate whole loan				10.00%
Whole Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fixed contractual interest in floating rate whole loan				15.00%
Whole Loans, Floating Rate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
The amortized cost of loans held for investments, fixed rate whole loans included in floating rate whole loans.				$ 2,000,000
Mezzanine Loans, Floating Rate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Variable rate basis		LIBOR		LIBOR
Basis spread on variable rate	15.32%	15.32%		15.32%
Minimum [Member] | Whole Loans, Floating Rate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Variable rate basis		LIBOR		LIBOR
Basis spread on variable rate	2.13%	2.13%		2.68%
Maturity Dates		October 2,014		March 2,014
Minimum [Member] | Mezzanine Loans, Fixed Rate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Stated interest rate	0.50%	0.50%		0.50%
Maturity Dates		September 2,014		September 2,014
Maximum [Member] | Whole Loans, Floating Rate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Variable rate basis		LIBOR		LIBOR
Basis spread on variable rate	12.14%	12.14%		12.14%
Maturity Dates		February 2,019		February 2,019
Maximum [Member] | Mezzanine Loans, Fixed Rate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Stated interest rate	18.71%	18.71%		18.72%
Maturity Dates		September 2,021		September 2,019
Whole Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan loss	$ 3,950,000	$ 3,950,000		$ 3,758,000
Not included in total [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan loss	$ 42,100,000	$ 42,100,000		4,000,000
Mezzanine Loans, Fixed Rate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Quantity | Loan	1	1
Whole Loans, Floating Rate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, unfunded loan commitments	$ 104,500,000	$ 104,500,000		$ 105,100,000
Commercial Real Estate Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Quantity | Loan	87	87		78
Amortized Cost	$ 1,573,422,000	$ 1,573,422,000		$ 1,347,030,000
Allowance for loan loss	997,000	997,000		570,000
Commercial Real Estate Loans [Member] | Whole Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortized Cost	$ 1,502,603,000	$ 1,502,603,000		$ 1,263,592,000
Fixed contractual interest in floating rate whole loan, Rate Two				15.00%
Commercial Real Estate Loans [Member] | Mezzanine Loans, Fixed Rate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Quantity | Loan	3	3		3
Amortized Cost	$ 54,822,000	$ 54,822,000		$ 54,808,000
Commercial Real Estate Loans [Member] | B Notes, Fixed Rate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Quantity | Loan	1	1		1
Amortized Cost	$ 15,997,000	$ 15,997,000		$ 16,072,000
Stated interest rate	8.68%	8.68%		8.68%
Maturity Dates		April 2,016		April 2,016
Commercial Real Estate Loans [Member] | Whole Loans, Floating Rate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Quantity | Loan	83	83		73
Amortized Cost	$ 1,502,603,000	$ 1,502,603,000		$ 1,263,592,000
Quantity of Loans, Fixed Contractual Interest in Floating Rate Whole Loan, Rate One | Loan				2
The amortized cost of loans held for investments, fixed rate whole loans included in floating rate whole loans.	$ 12,300,000	$ 12,300,000		$ 12,000,000
Commercial Real Estate Loans [Member] | Mezzanine Loans, Floating Rate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Quantity | Loan				1
Amortized Cost				$ 12,558,000
Maturity Dates		April 2,016		April 2,016
The amortized cost of loans held for investments, fixed rate whole loans included in floating rate whole loans.				$ 4,200,000

VARIABLE INTEREST ENTITIES L100

VARIABLE INTEREST ENTITIES LOANS HELD FOR INVESTMENT (Weighted Average Life of Commercial Real Estate Loans, at Amortized Cost) (Details) RSO - RSO [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Middle-market Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less than one year	$ 0	$ 0
Loans held for investment, amortized cost	330,995	250,113
Greater than one year and less than five years	191,670	132,353
Five years or greater	139,325	117,760
Bank Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less than one year	6,580	7,829
Loans held for investment, amortized cost	187,785	330,930
Greater than one year and less than five years	175,208	274,332
Five years or greater	5,997	48,769
Commercial Real Estate Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
2,014	3,250	0
2,015	60,438	60,473
2016 and Thereafter	1,509,734	1,286,557
Loans held for investment, amortized cost	1,573,422	1,347,030
Commercial Real Estate Loans [Member] | Whole Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
2,014	3,250	0
2,015	27,691	27,665
2016 and Thereafter	1,471,662	1,235,927
Loans held for investment, amortized cost	1,502,603	1,263,592
Commercial Real Estate Loans [Member] | Mezzanine Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
2,014	0	0
2,015	16,750	16,736
2016 and Thereafter	38,072	50,630
Loans held for investment, amortized cost	54,822	67,366
Commercial Real Estate Loans [Member] | B Notes [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
2,014	0	0
2,015	15,997	16,072
2016 and Thereafter	0	0
Loans held for investment, amortized cost	$ 15,997	$ 16,072

VARIABLE INTEREST ENTITIES L101

VARIABLE INTEREST ENTITIES LOANS HELD FOR INVESTMENT RSO (Details) - RSO [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	$ 181,757	$ 330,648
Loans Receivable Held-for-sale, Amount	111,122	111,736
Loans and Leases Receivable, Gross	187,785	330,930
Commercial Real Estate Loans [Member]
Variable Interest Entity [Line Items]
Amortized Cost	1,573,422	1,347,030
First Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	179,219	325,726
Loans Receivable Held-for-sale, Amount	6,028	282
Second Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	2,064	3,572
Third Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	0	0
Defaulted First Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	215	0
Defaulted Second Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	259	1,350
Apidos Cinco CDO Ltd [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	181,757	249,328
Loans and Leases Receivable, Gross	186,273	249,610
Apidos Cinco CDO Ltd [Member] | First Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	179,219	245,377
Loans Receivable Held-for-sale, Amount	4,516	282
Apidos Cinco CDO Ltd [Member] | Second Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	2,064	3,572
Apidos Cinco CDO Ltd [Member] | Third Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	0	0
Apidos Cinco CDO Ltd [Member] | Defaulted First Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	215	0
Apidos Cinco CDO Ltd [Member] | Defaulted Second Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	259	379
Apidos CDO III Ltd. [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	0	81,167
Loans and Leases Receivable, Gross	1,358	81,167
Apidos CDO III Ltd. [Member] | First Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	0	80,196
Loans Receivable Held-for-sale, Amount	1,358	0
Apidos CDO III Ltd. [Member] | Second Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	0	0
Apidos CDO III Ltd. [Member] | Third Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	0	0
Apidos CDO III Ltd. [Member] | Defaulted First Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	0	0
Apidos CDO III Ltd. [Member] | Defaulted Second Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	0	971
Apidos CDO I Ltd. [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	0	153
Loans and Leases Receivable, Gross	154	153
Apidos CDO I Ltd. [Member] | First Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	0	153
Loans Receivable Held-for-sale, Amount	154	0
Apidos CDO I Ltd. [Member] | Second Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	0	0
Apidos CDO I Ltd. [Member] | Third Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	0	0
Apidos CDO I Ltd. [Member] | Defaulted First Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	0	0
Apidos CDO I Ltd. [Member] | Defaulted Second Lien [Member]
Variable Interest Entity [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Commercial	$ 0	$ 0
FLORIDA | Residential Mortgage Loans [Member]
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	5.00%
Industry Grouping of Diversified/conglomerate Service [Member] | Commercial Real Estate Loans [Member]
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	11.80%	11.70%
Industry Grouping of Automobile and Healthcare [Member] | Commercial Real Estate Loans [Member]
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	10.90%	8.50%
Industry Grouping of Healthcare, Education and Childcare [Member] | Commercial Real Estate Loans [Member]
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	10.30%	17.50%
NORTH CAROLINA | Residential Mortgage Loans [Member]
Variable Interest Entity [Line Items]
Concentration of loan portfolio risk (in hundredths)	4.80%
Middle-market Loans [Member]
Variable Interest Entity [Line Items]
Amortized Cost	$ 330,995	$ 250,113
Middle-market Loans [Member] | First Lien [Member]
Variable Interest Entity [Line Items]
Amortized Cost	218,013	149,287
Middle-market Loans [Member] | Second Lien [Member]
Variable Interest Entity [Line Items]
Amortized Cost	108,026	100,826
Middle-market Loans [Member] | Defaulted First Lien [Member]
Variable Interest Entity [Line Items]
Amortized Cost	0	0
Middle-market Loans [Member] | Defaulted Second Lien [Member]
Variable Interest Entity [Line Items]
Amortized Cost	$ 4,956	$ 0

VARIABLE INTEREST ENTITIES L102

VARIABLE INTEREST ENTITIES LOANS HELD FOR INVESTMENT (Allocation of Allowance for Loan Loss for Commercial and Bank Loans) (Details) RSO - RSO [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Receivables with Imputed Interest [Line Items]
Allowance for Loan Loss	$ 46,319	$ 4,613
Middle-market Loans [Member]
Receivables with Imputed Interest [Line Items]
Allowance for Loan Loss	$ 3,207
Percentage of Total Allowance	6.92%
Bank Loans [Member]
Receivables with Imputed Interest [Line Items]
Allowance for Loan Loss	$ 997	$ 570
Percentage of Total Allowance	2.15%	12.36%
Whole Loans [Member]
Receivables with Imputed Interest [Line Items]
Allowance for Loan Loss	$ 3,950	$ 3,758
Percentage of Total Allowance	8.53%	81.46%
Mezzanine Loans [Member]
Receivables with Imputed Interest [Line Items]
Allowance for Loan Loss	$ 38,145	$ 230
Percentage of Total Allowance	82.36%	4.99%
B Notes [Member]
Receivables with Imputed Interest [Line Items]
Allowance for Loan Loss	$ 20	$ 55
Percentage of Total Allowance	0.04%	1.19%

VARIABLE INTEREST ENTITIES I103

VARIABLE INTEREST ENTITIES INVESTMENTS IN UNCONSOLIDATED ENTITIES (Schedule of Investments) (Details) - USD ($)	1 Months Ended			3 Months Ended			6 Months Ended
	Mar. 31, 2015	Feb. 28, 2014	Jan. 31, 2013	Jun. 30, 2015	Jun. 30, 2014	Jul. 31, 2013	Jun. 30, 2015	Jun. 30, 2014	Apr. 30, 2015	Dec. 31, 2014	Nov. 16, 2011
Interest in LCC [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities										$ 39,400,000
Income (loss) and interest expense from equity method investments				$ 350,000	$ (278,000)		$ 402,000	$ (872,000)
Investment in CVC Global Opps Fund [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities				14,100,000			14,100,000			18,209,000
Income (loss) and interest expense from equity method investments				312,000	1,100,000		920,000	2,000,000
Proceeds from Divestiture of Businesses and Interests in Affiliates	$ 5,000,000
Variable Interest Entity, Not Primary Beneficiary [Member] | Investment in CVC Global Opps Fund [Member]
Schedule of Equity Method Investments [Line Items]
Payments to Acquire Equity Method Investments						$ 15,000,000
RSO [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities				56,150,000			56,150,000		$ 750,000	59,827,000
Income (loss) and interest expense from equity method investments				$ 60,000	1,335,000		$ 173,000	2,836,000
RSO [Member] | Varde Investment Partners, LP [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage				7.50%			7.50%
Investments in unconsolidated entities				$ 654,000			$ 654,000			654,000
Income (loss) and interest expense from equity method investments				0	(19,000)		0	(20,000)
RSO [Member] | RRE VIP Borrower, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities				0			0			0
Income (loss) and interest expense from equity method investments				0	870,000		46,000	1,736,000
RSO [Member] | Interest in LCC [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities				39,819,000			39,819,000			39,416,000
Income (loss) and interest expense from equity method investments				$ 350,000	(278,000)		$ 402,000	(872,000)
RSO [Member] | Investment in CVC Global Opps Fund [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage				17.40%			17.40%
Investments in unconsolidated entities				$ 14,129,000			$ 14,129,000
Income (loss) and interest expense from equity method investments				$ 312,000	1,124,000		$ 920,000	1,958,000
Proceeds from Divestiture of Businesses and Interests in Affiliates	$ 5,000,000
RSO [Member] | Investment in Life Care Funding, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage				60.70%			60.70%
Investments in unconsolidated entities				$ 0			$ 0			0
Income (loss) and interest expense from equity method investments				0	0		0	(75,000)
Payments to Acquire Equity Method Investments		$ 1,400,000	$ 2,000,000
RSO [Member] | Investment in School Lane House [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities				0			0			0
Income (loss) and interest expense from equity method investments				0	65,000		0	1,049,000
RSO [Member] | Investments in Unconsolidated Entities [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities				54,602,000			54,602,000			58,279,000
Income (loss) and interest expense from equity method investments				$ 662,000	1,762,000		$ 1,368,000	3,776,000
RSO [Member] | Investment in RCT I and RCT II [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage				3.00%			3.00%
Investments in unconsolidated entities				$ 1,548,000			$ 1,548,000			1,548,000
Income (loss) and interest expense from equity method investments				(602,000)	(594,000)		(1,195,000)	(1,184,000)
RSO [Member] | Investment in Preferred Equity [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities				0			0			0
Income (loss) and interest expense from equity method investments				$ 0	$ 167,000		$ 0	$ 244,000
RSO [Member] | Minimum [Member] | RRE VIP Borrower, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage				3.00%			3.00%
RSO [Member] | Maximum [Member] | RRE VIP Borrower, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage				5.00%			5.00%
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | LEAF Commercial Capital Inc [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities				$ 39,800,000			$ 39,800,000			$ 39,400,000	$ 36,300,000
RSO [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | LEAF Commercial Capital Inc [Member] | Interest in LCC [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage				28.40%			28.40%

VARIABLE INTEREST ENTITIES L104

VARIABLE INTEREST ENTITIES LOANS HELD FOR INVESTMENT (Details) RSO - RSO [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale, net	$ 111,122		$ 113,675
Allowance for loan loss	46,319		4,613
Principal paydown receivable	11,525		40,920
Loans, allowances	$ 46,300		4,600
Bank Loans [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Variable rate basis	three month LIBOR	three month LIBOR
Bank Loans [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Variable rate basis	three month LIBOR	three month LIBOR
Middle-market Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale, net	$ 327,800
Allowance for loan loss	3,207
Bank Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale, net	186,800		330,400
Allowance for loan loss	$ 997		$ 570
Residential Mortgage Loans [Member] | Georgia [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk (in hundredths)	43.80%		56.00%
Residential Mortgage Loans [Member] | UTAH
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk (in hundredths)	9.80%		8.00%
Residential Mortgage Loans [Member] | Virginia [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk (in hundredths)	10.70%		7.00%
Residential Mortgage Loans [Member] | FLORIDA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk (in hundredths)	5.00%
Residential Mortgage Loans [Member] | Alabama [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk (in hundredths)			5.00%
Residential Mortgage Loans [Member] | Tennessee [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk (in hundredths)			4.00%
Middle-market Loans [Member] | Industry Grouping of Persona, Food and Miscellaneous Service [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk (in hundredths)	12.30%		2.80%
Middle-market Loans [Member] | Hotels, Motels, Inns, and Gaming [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk (in hundredths)	11.20%		13.70%
Commercial Real Estate Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan loss	$ 997		$ 570
Commercial Real Estate Loans [Member] | California [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk (in hundredths)	22.70%		27.40%
Commercial Real Estate Loans [Member] | Arizona [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk (in hundredths)	6.20%		7.30%
Commercial Real Estate Loans [Member] | Texas [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk (in hundredths)	28.80%		27.30%
Commercial Real Estate Loans [Member] | Industry Grouping of Healthcare, Education and Childcare [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loan portfolio risk (in hundredths)	10.30%		17.50%
LIBOR [Member] | Middle-market Loans [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Basis spread on variable rate	5.50%		5.50%
LIBOR [Member] | Middle-market Loans [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Basis spread on variable rate	11.75%		9.25%
LIBOR [Member] | Bank Loans [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Basis spread on variable rate	1.50%		1.25%
LIBOR [Member] | Bank Loans [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Basis spread on variable rate	8.50%		8.75%

VARIABLE INTEREST ENTITIES FINA

VARIABLE INTEREST ENTITIES FINANCING RECEIVABLES (Details) RSO $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)LoanProperty	Jun. 29, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)LoanProperty	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)Loan	Mar. 31, 2015USD ($)	Sep. 30, 2014Loan	Mar. 31, 2014USD ($)Loan	Dec. 31, 2013USD ($)
Activity in the allowance for credit losses of financing receivables [Roll Forward]
Loans charged-off	$ 31		$ (1)	$ (1)	$ (2)
Recoveries			5		6
Allowance for losses, ending balance:
Individually evaluated for impairment	17,667		39,028	17,667	39,028
Collectively evaluated for impairment	0		2	0	2
Financing Receivable, Allowance for Credit Losses	17,667		39,030	17,667	39,030	$ 16,990	$ 17,360		$ 37,451	$ 36,243
Loans, ending balance:
Individually evaluated for impairment	44,185			44,185		47,293
Collectively evaluated for impairment	179			179		88
Total Past Due	36,329			36,329		37,076
Current	8,035			8,035		10,305
Whole Loans [Member]
Allowance for losses, ending balance:
Individually evaluated for impairment	2,200			2,200
Commercial Real Estate Loans [Member]
Allowance for losses, ending balance:
Individually evaluated for impairment	38,100			38,100
Loans Receivable - Related Party [Member]
Activity in the allowance for credit losses of financing receivables [Roll Forward]
Provision (recovery) for loan losses	(28)			(216)		1,300
Held for Sale [Member] | Bank Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	$ 6,000			$ 6,000		$ 282
RSO [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Modifications, Number of Contracts | Loan				3
Number of Defaulted Loans | Loan	2			2		2
Financing Receivable, Net	$ 2,052,532			$ 2,052,532		$ 1,935,793
Loans Receivable Held-for-sale, Amount	111,122			111,122		111,736
Activity in the allowance for credit losses of financing receivables [Roll Forward]
Allowance for losses at beginning of period				4,613	13,807	13,807
Provision (recovery) for loan losses				42,800		1,804
Loans charged-off				(1,094)		(10,998)
Recoveries				0
Allowance for losses at end of period	46,319			46,319		4,613
Interest income − other	1,119		$ 982	1,951	3,834
Allowance for losses, ending balance:
Individually evaluated for impairment	43,739			43,739		570
Collectively evaluated for impairment	2,580			2,580		4,043
Financing Receivable, Allowance for Credit Losses	46,319			46,319		4,613
Loans, ending balance:
Individually evaluated for impairment	460,396			460,396		418,920
Collectively evaluated for impairment	1,628,808			1,628,808		1,513,232
Capital Leases, Income Statement, Direct Financing Lease Revenue						2,100
Total Past Due	5,626			5,626		1,994
Current	2,194,700			2,194,700		2,041,612
Financing Receivable, Recorded Investment, Past Due and Current	2,200,326			2,200,326		2,043,606
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	0			0		0
Financing Receivable, Modifications, Pre-Modification Recorded Investment				105,531
Financing Receivable, Modifications, Post-Modification Recorded Investment				67,459
Specific Allowance	43,738			43,738		570
Impaired Financing Receivable, Recorded Investment	177,661			177,661		169,612
Impaired Financing Receivable, Unpaid Principal Balance	177,661			177,661		169,612
Impaired Financing Receivable, Average Recorded Investment				176,805		170,599
Impaired Financing Receivable, Interest Income, Accrual Method				$ 14,713		15,686
RSO [Member] | Whole Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Modifications, Number of Contracts | Loan				2
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	128,927			$ 128,927		128,108
Financing Receivable, Net	1,502,603			1,502,603		1,263,592
Loans, ending balance:
Total Past Due	0			0		0
Current	1,502,603			1,502,603		1,263,592
Financing Receivable, Recorded Investment, Past Due and Current	1,502,603			1,502,603		1,263,592
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	0			0		0
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	128,927			128,927		128,108
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment				128,520		130,445
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method				14,606		12,679
Financing Receivable, Modifications, Pre-Modification Recorded Investment				67,459
Financing Receivable, Modifications, Post-Modification Recorded Investment				67,459
Impaired Financing Receivable, with Related Allowance, Recorded Investment	2,202			2,202		0
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	2,202			2,202		0
Specific Allowance	2,202			2,202		0
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment				2,202		0
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method				26		0
Impaired Financing Receivable, Recorded Investment	131,129			131,129		128,108
Impaired Financing Receivable, Unpaid Principal Balance	131,129			131,129		128,108
Impaired Financing Receivable, Average Recorded Investment				130,722		130,445
Impaired Financing Receivable, Interest Income, Accrual Method				$ 14,632		12,679
RSO [Member] | B Notes [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Modifications, Number of Contracts | Loan				0
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	0			$ 0		0
Financing Receivable, Net	15,997			15,997		16,072
Loans, ending balance:
Total Past Due	0			0		0
Current	15,997			15,997		16,072
Financing Receivable, Recorded Investment, Past Due and Current	15,997			15,997		16,072
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	0			0		0
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	0			0		0
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment				0		0
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method				0		0
Financing Receivable, Modifications, Pre-Modification Recorded Investment				0
Financing Receivable, Modifications, Post-Modification Recorded Investment				0
Impaired Financing Receivable, with Related Allowance, Recorded Investment	0			0		0
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	0			0		0
Specific Allowance	0			0		0
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment				0		0
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method				0		0
Impaired Financing Receivable, Recorded Investment	0			0		0
Impaired Financing Receivable, Unpaid Principal Balance	0			0		0
Impaired Financing Receivable, Average Recorded Investment				0		0
Impaired Financing Receivable, Interest Income, Accrual Method				0		0
RSO [Member] | Commercial Real Estate Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	1,573,422			1,573,422		1,347,030
Activity in the allowance for credit losses of financing receivables [Roll Forward]
Allowance for losses at beginning of period				4,043	10,416	10,416
Provision (recovery) for loan losses	38,100			38,072		(3,758)
Loans charged-off				0		(2,615)
Recoveries				0
Allowance for losses at end of period	42,115			42,115		4,043
Allowance for losses, ending balance:
Individually evaluated for impairment	40,275			40,275		0
Collectively evaluated for impairment	1,840			1,840		4,043
Loans, ending balance:
Individually evaluated for impairment	128,927			128,927		166,180
Collectively evaluated for impairment	1,444,495			$ 1,444,495		1,180,850
RSO [Member] | Mezzanine Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Modifications, Number of Contracts | Loan				1
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	0			$ 0		38,072
Financing Receivable, Net	54,822			54,822		67,366
Activity in the allowance for credit losses of financing receivables [Roll Forward]
Interest income − other	3,000	$ 300,000
Allowance for losses, ending balance:
Individually evaluated for impairment	$ 41,100			$ 41,100
Loans, ending balance:
Number of Properties, Loan Portfolio | Property	13			13
Total Past Due	$ 0			$ 0		0
Current	54,822			54,822		67,366
Financing Receivable, Recorded Investment, Past Due and Current	54,822			54,822		67,366
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	0			0		0
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	0			0		38,072
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment				0		38,072
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method				0		2,859
Financing Receivable, Modifications, Pre-Modification Recorded Investment				38,072
Financing Receivable, Modifications, Post-Modification Recorded Investment				0
Impaired Financing Receivable, with Related Allowance, Recorded Investment	38,072			38,072		0
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	38,072			38,072		0
Specific Allowance	38,072			38,072		0
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment				38,072		0
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method				0		0
Impaired Financing Receivable, Recorded Investment	38,072			38,072		38,072
Impaired Financing Receivable, Unpaid Principal Balance	38,072			38,072		38,072
Impaired Financing Receivable, Average Recorded Investment				38,072		38,072
Impaired Financing Receivable, Interest Income, Accrual Method				$ 0		2,859
RSO [Member] | Bank Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Modifications, Number of Contracts | Loan				0
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	0			$ 0		0
Financing Receivable, Net	187,785			187,785		330,930
Activity in the allowance for credit losses of financing receivables [Roll Forward]
Allowance for losses at beginning of period				570	3,391	3,391
Provision (recovery) for loan losses				1,734		4,173
Loans charged-off				(1,307)		(6,994)
Recoveries				0
Allowance for losses at end of period	997			997		570
Allowance for losses, ending balance:
Individually evaluated for impairment	257			257		570
Collectively evaluated for impairment	740			740		0
Loans, ending balance:
Individually evaluated for impairment	474			474		1,350
Collectively evaluated for impairment	181,283			181,283		329,580
Total Past Due	474			474		1,350
Current	187,311			187,311		329,580
Financing Receivable, Recorded Investment, Past Due and Current	187,785			187,785		330,930
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	0			0		0
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	0			0		0
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment				0		0
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method				0		0
Financing Receivable, Modifications, Pre-Modification Recorded Investment				0
Financing Receivable, Modifications, Post-Modification Recorded Investment				0
Impaired Financing Receivable, with Related Allowance, Recorded Investment	474			474		1,350
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	474			474		1,350
Specific Allowance	257			257		570
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment				237		0
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method				0		0
Impaired Financing Receivable, Recorded Investment	474			474		1,350
Impaired Financing Receivable, Unpaid Principal Balance	474			474		1,350
Impaired Financing Receivable, Average Recorded Investment				237		0
Impaired Financing Receivable, Interest Income, Accrual Method				$ 0		0
RSO [Member] | Middle-market Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Modifications, Number of Contracts | Loan				0
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	0			$ 0		0
Financing Receivable, Net	330,995			330,995		250,113
Activity in the allowance for credit losses of financing receivables [Roll Forward]
Allowance for losses at beginning of period				0	0	0
Provision (recovery) for loan losses				3,320		92
Loans charged-off				(113)		(92)
Recoveries				0
Allowance for losses at end of period	3,207			3,207		0
Allowance for losses, ending balance:
Individually evaluated for impairment	3,207			3,207		0
Collectively evaluated for impairment	0			0		0
Loans, ending balance:
Individually evaluated for impairment	330,995			330,995		250,113
Collectively evaluated for impairment	0			0		0
Total Past Due	4,956			4,956		0
Current	326,039			326,039		250,113
Financing Receivable, Recorded Investment, Past Due and Current	330,995			330,995		250,113
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing						0
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	0			0
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment				0		0
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method				0		0
Financing Receivable, Modifications, Pre-Modification Recorded Investment				0
Financing Receivable, Modifications, Post-Modification Recorded Investment				0
Impaired Financing Receivable, with Related Allowance, Recorded Investment	4,956			4,956		0
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	4,956			4,956		0
Specific Allowance	3,207			3,207		0
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment				4,956		0
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method				0		0
Impaired Financing Receivable, Recorded Investment	4,956			4,956		0
Impaired Financing Receivable, Unpaid Principal Balance	4,956			4,956		0
Impaired Financing Receivable, Average Recorded Investment				4,956		0
Impaired Financing Receivable, Interest Income, Accrual Method				$ 0		0
RSO [Member] | Residential Mortgage Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Modifications, Number of Contracts | Loan				0
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	3,030			$ 3,030		2,082
Loans Receivable Held-for-sale, Amount	105,094			105,094		111,454
Activity in the allowance for credit losses of financing receivables [Roll Forward]
Allowance for losses at beginning of period				0	0	0
Provision (recovery) for loan losses				(110)		0
Loans charged-off				110		0
Recoveries				0
Allowance for losses at end of period	0			0		0
Allowance for losses, ending balance:
Individually evaluated for impairment	0			0		0
Collectively evaluated for impairment	0			0		0
Loans, ending balance:
Individually evaluated for impairment	0			0		0
Collectively evaluated for impairment	3,030			3,030		2,802
Total Past Due	196			196		644
Current	107,928			107,928		113,612
Financing Receivable, Recorded Investment, Past Due and Current	108,124			108,124		114,256
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	0			0		0
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	3,030			3,030		2,082
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment				2,818		2,082
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method				81		148
Financing Receivable, Modifications, Pre-Modification Recorded Investment				0
Financing Receivable, Modifications, Post-Modification Recorded Investment				0
Impaired Financing Receivable, with Related Allowance, Recorded Investment	0			0		0
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	0			0		0
Specific Allowance	0			0		0
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment				0		0
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method				0		0
Impaired Financing Receivable, Recorded Investment	3,030			3,030		2,082
Impaired Financing Receivable, Unpaid Principal Balance	3,030			3,030		2,082
Impaired Financing Receivable, Average Recorded Investment				2,818		2,082
Impaired Financing Receivable, Interest Income, Accrual Method				$ 81		148
RSO [Member] | Loans Receivable - Related Party [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Modifications, Number of Contracts | Loan				0
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	0			$ 0		$ 0
Number of Defaulted Loans | Loan						1
Activity in the allowance for credit losses of financing receivables [Roll Forward]
Allowance for losses at beginning of period				0	$ 0	$ 0
Provision (recovery) for loan losses				(216)		1,297
Loans charged-off				216		(1,297)
Recoveries				0
Allowance for losses at end of period	0			0		0
Allowance for losses, ending balance:
Individually evaluated for impairment	0			0		0
Collectively evaluated for impairment	0			0		0
Loans, ending balance:
Individually evaluated for impairment	0			0		1,277
Collectively evaluated for impairment	0			0		0
Total Past Due						0
Current						1,277
Financing Receivable, Recorded Investment, Past Due and Current						1,277
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing						0
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	0			0		0
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment				0		0
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method				0		0
Financing Receivable, Modifications, Pre-Modification Recorded Investment				0
Financing Receivable, Modifications, Post-Modification Recorded Investment				0
Impaired Financing Receivable, with Related Allowance, Recorded Investment	0			0		0
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	0			0		0
Specific Allowance	0			0		0
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment				0		0
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method				0		0
Impaired Financing Receivable, Recorded Investment	0			0		0
Impaired Financing Receivable, Unpaid Principal Balance	0			0		0
Impaired Financing Receivable, Average Recorded Investment				0		0
Impaired Financing Receivable, Interest Income, Accrual Method				0		0
RSO [Member] | Receivables Acquired with Deteriorated Credit Quality [Member]
Allowance for losses, ending balance:
Financing Receivable, Allowance for Credit Losses	0			0		0
RSO [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial Real Estate Loans [Member]
Allowance for losses, ending balance:
Financing Receivable, Allowance for Credit Losses	0			0		0
RSO [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Bank Loans [Member]
Allowance for losses, ending balance:
Financing Receivable, Allowance for Credit Losses	0			0		0
RSO [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Middle-market Loans [Member]
Allowance for losses, ending balance:
Financing Receivable, Allowance for Credit Losses	0			0		0
RSO [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage Loans [Member]
Allowance for losses, ending balance:
Financing Receivable, Allowance for Credit Losses	0			0		0
RSO [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Loans Receivable - Related Party [Member]
Allowance for losses, ending balance:
Financing Receivable, Allowance for Credit Losses	0			0		0
RSO [Member] | Nonperforming Financial Instruments [Member] | Bank Loans [Member]
Schedule Of Financing Receivables [Line Items]
Number of Defaulted Loans | Loan								1	1
Financing Receivable, Net	474			474		1,400
RSO [Member] | Rating 1 [Member] | Whole Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	1,467,901			1,467,901		1,231,092
RSO [Member] | Rating 1 [Member] | B Notes [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	15,997			15,997		16,072
RSO [Member] | Rating 1 [Member] | Commercial Real Estate Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	1,500,648			1,500,648		1,292,596
RSO [Member] | Rating 1 [Member] | Mezzanine Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	16,750			16,750		45,432
RSO [Member] | Rating 1 [Member] | Bank Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	162,007			162,007		291,214
RSO [Member] | Rating 1 [Member] | Middle-market Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	19,225			19,225		0
RSO [Member] | Rating 2 [Member] | Whole Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	32,500			32,500		32,500
RSO [Member] | Rating 2 [Member] | B Notes [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	0			0		0
RSO [Member] | Rating 2 [Member] | Commercial Real Estate Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	32,500			32,500		54,434
RSO [Member] | Rating 2 [Member] | Mezzanine Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	0			0		21,934
RSO [Member] | Rating 2 [Member] | Bank Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	12,577			12,577		32,660
RSO [Member] | Rating 2 [Member] | Middle-market Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	292,983			292,983		240,245
RSO [Member] | Rating 3 [Member] | Whole Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	0			0		0
RSO [Member] | Rating 3 [Member] | B Notes [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	0			0		0
RSO [Member] | Rating 3 [Member] | Commercial Real Estate Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	0			0		0
RSO [Member] | Rating 3 [Member] | Mezzanine Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	0			0		0
RSO [Member] | Rating 3 [Member] | Bank Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	4,249			4,249		5,424
RSO [Member] | Rating 3 [Member] | Middle-market Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	13,831			13,831		9,868
RSO [Member] | Rating 4 [Member] | Whole Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	2,202			2,202		0
RSO [Member] | Rating 4 [Member] | B Notes [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	0			0		0
RSO [Member] | Rating 4 [Member] | Commercial Real Estate Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	40,274			40,274		0
RSO [Member] | Rating 4 [Member] | Mezzanine Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	38,072			38,072		0
RSO [Member] | Rating 4 [Member] | Bank Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	2,450			2,450		0
RSO [Member] | Rating 4 [Member] | Middle-market Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	0			0		0
RSO [Member] | Rating 5 [Member] | Bank Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	474			474		1,350
RSO [Member] | Rating 5 [Member] | Middle-market Loans [Member]
Schedule Of Financing Receivables [Line Items]
Financing Receivable, Net	4,956			4,956		0
RSO [Member] | Held for Sale [Member] | Whole Loans [Member]
Schedule Of Financing Receivables [Line Items]
Loans Receivable Held-for-sale, Amount	0			0		0
RSO [Member] | Held for Sale [Member] | B Notes [Member]
Schedule Of Financing Receivables [Line Items]
Loans Receivable Held-for-sale, Amount	0			0		0
RSO [Member] | Held for Sale [Member] | Commercial Real Estate Loans [Member]
Schedule Of Financing Receivables [Line Items]
Loans Receivable Held-for-sale, Amount	0			0		0
RSO [Member] | Held for Sale [Member] | Mezzanine Loans [Member]
Schedule Of Financing Receivables [Line Items]
Loans Receivable Held-for-sale, Amount	0			0		0
RSO [Member] | Held for Sale [Member] | Bank Loans [Member]
Schedule Of Financing Receivables [Line Items]
Loans Receivable Held-for-sale, Amount	6,028			6,028		282
RSO [Member] | Held for Sale [Member] | Middle-market Loans [Member]
Schedule Of Financing Receivables [Line Items]
Loans Receivable Held-for-sale, Amount	0			0		0
Financing Receivables, 30 to 59 Days Past Due [Member] | RSO [Member]
Loans, ending balance:
Total Past Due	0			0		443
Financing Receivables, 30 to 59 Days Past Due [Member] | RSO [Member] | Whole Loans [Member]
Loans, ending balance:
Total Past Due	0			0		0
Financing Receivables, 30 to 59 Days Past Due [Member] | RSO [Member] | B Notes [Member]
Loans, ending balance:
Total Past Due	0			0		0
Financing Receivables, 30 to 59 Days Past Due [Member] | RSO [Member] | Mezzanine Loans [Member]
Loans, ending balance:
Total Past Due	0			0		0
Financing Receivables, 30 to 59 Days Past Due [Member] | RSO [Member] | Bank Loans [Member]
Loans, ending balance:
Total Past Due	0			0		0
Financing Receivables, 30 to 59 Days Past Due [Member] | RSO [Member] | Middle-market Loans [Member]
Loans, ending balance:
Total Past Due	0			0		0
Financing Receivables, 30 to 59 Days Past Due [Member] | RSO [Member] | Residential Mortgage Loans [Member]
Loans, ending balance:
Total Past Due	0			0		443
Financing Receivables, 30 to 59 Days Past Due [Member] | RSO [Member] | Loans Receivable - Related Party [Member]
Loans, ending balance:
Total Past Due						0
Financing Receivables, 60 to 89 Days Past Due [Member] | RSO [Member]
Loans, ending balance:
Total Past Due	5,036			5,036		82
Financing Receivables, 60 to 89 Days Past Due [Member] | RSO [Member] | Whole Loans [Member]
Loans, ending balance:
Total Past Due	0			0		0
Financing Receivables, 60 to 89 Days Past Due [Member] | RSO [Member] | B Notes [Member]
Loans, ending balance:
Total Past Due	0			0		0
Financing Receivables, 60 to 89 Days Past Due [Member] | RSO [Member] | Mezzanine Loans [Member]
Loans, ending balance:
Total Past Due	0			0		0
Financing Receivables, 60 to 89 Days Past Due [Member] | RSO [Member] | Bank Loans [Member]
Loans, ending balance:
Total Past Due	0			0		0
Financing Receivables, 60 to 89 Days Past Due [Member] | RSO [Member] | Middle-market Loans [Member]
Loans, ending balance:
Total Past Due	4,956			4,956		0
Financing Receivables, 60 to 89 Days Past Due [Member] | RSO [Member] | Residential Mortgage Loans [Member]
Loans, ending balance:
Total Past Due	80			80		82
Financing Receivables, 60 to 89 Days Past Due [Member] | RSO [Member] | Loans Receivable - Related Party [Member]
Loans, ending balance:
Total Past Due						0
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | RSO [Member]
Loans, ending balance:
Total Past Due	590			590		1,469
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | RSO [Member] | Whole Loans [Member]
Loans, ending balance:
Total Past Due	0			0		0
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | RSO [Member] | B Notes [Member]
Loans, ending balance:
Total Past Due	0			0		0
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | RSO [Member] | Mezzanine Loans [Member]
Loans, ending balance:
Total Past Due	0			0		0
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | RSO [Member] | Bank Loans [Member]
Loans, ending balance:
Total Past Due	474			474		1,350
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | RSO [Member] | Middle-market Loans [Member]
Loans, ending balance:
Total Past Due	0			0		0
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | RSO [Member] | Residential Mortgage Loans [Member]
Loans, ending balance:
Total Past Due	$ 116			$ 116		119
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | RSO [Member] | Loans Receivable - Related Party [Member]
Loans, ending balance:
Total Past Due						$ 0

VARIABLE INTEREST ENTITIES BUSI

VARIABLE INTEREST ENTITIES BUSINESS COMBINATIONS (Details) RSO - RSO [Member] - USD ($)	Jul. 31, 2015	Apr. 30, 2015	Feb. 26, 2014	Jun. 30, 2015	Feb. 27, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Investments in unconsolidated entities		$ 750,000		$ 56,150,000		$ 59,827,000
Life Care Funding, LLC [Member]
Finite-Lived Intangible Assets [Line Items]
Ownership percentage in VIE		60.70%	50.20%
Payments to Acquire Equity Method Investments		$ 375,000
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net					$ 4,100,000
Subsequent Event [Member] | Life Care Funding, LLC [Member]
Finite-Lived Intangible Assets [Line Items]
Payments to Acquire Equity Method Investments	$ 375,000

VARIABLE INTEREST ENTITIES INTA

VARIABLE INTEREST ENTITIES INTANGIBLE ASSETS (Summary of Intangible Assets) (Details) RSO - RSO [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015
Finite-Lived Intangible Assets [Line Items]
Balance, beginning of period	$ 18,610
Additions	8,360
Sales	0
Accumulated Amortization		$ (2,850)
Total before impairment adjustment	18,610	24,120
Temporary fair value adjustment	250
Balance, end of period	24,370
Investment in RCAM [Member]
Finite-Lived Intangible Assets [Line Items]
Balance, beginning of period	9,434
Additions	0
Sales	0
Accumulated Amortization		(892)
Total before impairment adjustment	9,434	8,542
Temporary fair value adjustment	0
Balance, end of period	8,542
Investment in PCA [Member] | Wholesale or Correspondent Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Balance, beginning of period	302
Additions	0
Sales	0
Accumulated Amortization		(127)
Total before impairment adjustment	302	175
Temporary fair value adjustment	0
Balance, end of period	175
Servicing Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Balance, beginning of period	8,874
Additions	8,360
Sales	0
Accumulated Amortization		(1,831)
Total before impairment adjustment	8,874	$ 15,403
Temporary fair value adjustment	250
Balance, end of period	$ 15,653

VARIABLE INTEREST ENTITIES I108

VARIABLE INTEREST ENTITIES INTANGIBLE ASSETS (Schedule of Servicing Rights) (Details) RSO - RSO [Member] - Servicing Contracts [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Balance, beginning of period	$ 894,767	$ 433,153
Additions	633,511	519,915
Payoffs, sales and curtailments	(79,666)	(58,301)
Balance, end of period	$ 1,448,612	$ 894,767

VARIABLE INTEREST ENTITIES I109

VARIABLE INTEREST ENTITIES INTANGIBLE ASSETS (Schedule of Servicing Fees) (Details) - RSO [Member] - Servicing Contracts [Member] - Other Income [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Finite-Lived Intangible Assets [Line Items]
Servicing fees from capitalized portfolio	$ 911	$ 336	$ 1,462	$ 644
Late fees	18	16	41	39
Other ancillary servicing revenue	$ 3	$ (1)	$ 7	$ 3

VARIABLE INTEREST ENTITIES I110

VARIABLE INTEREST ENTITIES INTANGIBLE ASSETS (Details) RSO - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets				$ 512	$ 1,000	$ 1,000
Amortization expense, current			$ 2,000		2,000
Amortization expense, year two			1,800		1,800
Amortization expense, year three			1,800		1,800
Amortization expense, year four			1,600		1,600
Amortization expense, year five			1,000		$ 1,000
Weighted average amortization period					6 years 2 months 12 days		6 years 7 months 6 days
RSO [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets			513
Fee income			3,446	2,322	$ 5,051	4,822
RSO [Member] | Servicing Contracts [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets			1,000	396	1,800	652
Amortization expense, year two			3,400		3,400
Amortization expense, year three			3,300		3,300
Amortization expense, year four			3,100		3,100
Amortization expense, year five			2,500		2,500
Weighted average amortization period	1 year 2 months 12 days	1 year 4 months 24 days
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year			3,500		3,500
Principal Amount Outstanding of Loans Held-in-portfolio		$ 894,767	1,448,612		1,448,612		$ 894,767	$ 433,153
Investment in RCAM [Member] | RSO [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Fee income			$ 896	$ 1,100	$ 1,900	$ 2,800

VARIABLE INTEREST ENTITIES BORR

VARIABLE INTEREST ENTITIES BORROWINGS (Schedule of Debt) (Details) RSO - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
CDO notes	$ 0	$ 0
RSO [Member]
Debt Instrument [Line Items]
Principal Outstanding	1,853,054	1,734,901
Unamortized Issuance Costs and Discounts	25,593	18,030
Outstanding Borrowings	$ 1,827,461	$ 1,716,871
Weighted Average Borrowing Rate	2.56%	2.09%
Weighted Average Remaining Maturity	10 years 7 months 6 days	10 years
Value of Collateral	$ 2,335,628	$ 2,287,115
Interest Payable	5,467	2,123
RSO [Member] | RREF CDO 2006-1 Senior Notes [Member]
Debt Instrument [Line Items]
Principal Outstanding	57,205	61,423
Unamortized Issuance Costs and Discounts	0	0
Outstanding Borrowings	$ 57,205	$ 61,423
Weighted Average Borrowing Rate	2.28%	2.12%
Weighted Average Remaining Maturity	31 years 1 month 6 days	31 years 7 months 6 days
Value of Collateral	$ 100,062	$ 139,242
RSO [Member] | RREF CDO 2007-1 Senior Notes [Member]
Debt Instrument [Line Items]
Principal Outstanding	125,055	130,340
Unamortized Issuance Costs and Discounts	0	133
Outstanding Borrowings	$ 125,055	$ 130,207
Weighted Average Borrowing Rate	1.19%	1.19%
Weighted Average Remaining Maturity	31 years 3 months 18 days	31 years 9 months 18 days
Value of Collateral	$ 247,292	$ 271,423
RSO [Member] | RCC CRE Notes 2013 [Member]
Debt Instrument [Line Items]
Principal Outstanding	148,115	226,840
Unamortized Issuance Costs and Discounts	2,329	2,683
Outstanding Borrowings	$ 145,786	$ 224,157
Weighted Average Borrowing Rate	2.28%	2.11%
Weighted Average Remaining Maturity	13 years 6 months	14 years
Value of Collateral	$ 192,666	$ 249,983
RSO [Member] | RCC CRE Notes 2014 [Member]
Debt Instrument [Line Items]
Principal Outstanding	235,344	235,344
Unamortized Issuance Costs and Discounts	3,498	3,687
Outstanding Borrowings	$ 231,846	$ 231,657
Weighted Average Borrowing Rate	1.48%	1.45%
Weighted Average Remaining Maturity	16 years 9 months 18 days	17 years 3 months 18 days
Value of Collateral	$ 348,194	$ 346,585
RSO [Member] | RCC CRE Notes 2015 [Member]
Debt Instrument [Line Items]
Principal Outstanding	282,127
Unamortized Issuance Costs and Discounts	3,899
Outstanding Borrowings	$ 278,228
Weighted Average Borrowing Rate	2.08%
Weighted Average Remaining Maturity	16 years 8 months 12 days
Value of Collateral	$ 340,076
RSO [Member] | Apidos CDO III Senior Notes [Member]
Debt Instrument [Line Items]
Principal Outstanding		74,646
Unamortized Issuance Costs and Discounts		0
Outstanding Borrowings		$ 74,646
Weighted Average Borrowing Rate		1.18%
Weighted Average Remaining Maturity		5 years 8 months 12 days
Value of Collateral		$ 85,553
RSO [Member] | Apidos Cinco CDO Senior Notes [Member]
Debt Instrument [Line Items]
Principal Outstanding	208,893	255,664
Unamortized Issuance Costs and Discounts	0	201
Outstanding Borrowings	$ 208,893	$ 255,463
Weighted Average Borrowing Rate	0.93%	0.81%
Weighted Average Remaining Maturity	4 years 10 months 24 days	5 years 4 months 24 days
Value of Collateral	$ 229,238	$ 272,512
RSO [Member] | Moselle CLO S.A. Securitized Borrowings [Member]
Debt Instrument [Line Items]
Principal Outstanding	159	5,619
Unamortized Issuance Costs and Discounts	0	0
Outstanding Borrowings	159	$ 5,619
Weighted Average Borrowing Rate		1.49%
Weighted Average Remaining Maturity		5 years
Value of Collateral	557	$ 0
RSO [Member] | Moselle CLO S.A. Senior Notes [Member]
Debt Instrument [Line Items]
Principal Outstanding		63,321
Unamortized Issuance Costs and Discounts		0
Outstanding Borrowings		$ 63,321
Weighted Average Borrowing Rate		1.49%
Weighted Average Remaining Maturity		5 years
Value of Collateral		$ 93,576
Interest Payable		20
CDO notes		63,300
RSO [Member] | Unsecured Junior Subordinated Debentures [Member]
Debt Instrument [Line Items]
Principal Outstanding	51,548	51,548
Unamortized Issuance Costs and Discounts	240	343
Outstanding Borrowings	$ 51,308	$ 51,205
Weighted Average Borrowing Rate	4.20%	4.19%
Weighted Average Remaining Maturity	21 years 3 months 18 days	21 years 9 months 18 days
Value of Collateral	$ 0	$ 0
RSO [Member] | Six Percent Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Principal Outstanding	115,000	115,000
Unamortized Issuance Costs and Discounts	5,762	6,626
Outstanding Borrowings	$ 109,238	$ 108,374
Weighted Average Borrowing Rate	6.00%	6.00%
Weighted Average Remaining Maturity	3 years 4 months 24 days	3 years 10 months 24 days
Value of Collateral	$ 0	$ 0
RSO [Member] | Eight Percent Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Principal Outstanding	100,000
Unamortized Issuance Costs and Discounts	5,170
Outstanding Borrowings	$ 94,830
Weighted Average Borrowing Rate	8.00%
Weighted Average Remaining Maturity	4 years 6 months
Value of Collateral	$ 0
RSO [Member] | CRE - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Principal Outstanding	174,928	207,640
Unamortized Issuance Costs and Discounts	1,204	1,958
Outstanding Borrowings	$ 173,724	$ 205,682
Weighted Average Borrowing Rate	2.24%	2.43%
Weighted Average Remaining Maturity	18 days	20 days
Value of Collateral	$ 273,686	$ 297,571
Interest Payable	187	198
RSO [Member] | Repurchase Agreements Debt [Member]
Debt Instrument [Line Items]
Principal Outstanding		24,967
Unamortized Issuance Costs and Discounts		0
Outstanding Borrowings		$ 24,967
Weighted Average Borrowing Rate		1.35%
Weighted Average Remaining Maturity		20 days
Value of Collateral		$ 30,180
RSO [Member] | CMBS - Term Repurchase Facilities [Member]
Debt Instrument [Line Items]
Principal Outstanding	29,929
Unamortized Issuance Costs and Discounts	0
Outstanding Borrowings	$ 29,929
Weighted Average Borrowing Rate	1.38%
Weighted Average Remaining Maturity	18 days
Value of Collateral	$ 34,330
Interest Payable	13	12
RSO [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Principal Outstanding	96,580	102,576
Unamortized Issuance Costs and Discounts	0	0
Outstanding Borrowings	$ 96,580	$ 102,576
Weighted Average Borrowing Rate	2.74%	2.78%
Weighted Average Remaining Maturity	62 days	207 days
Value of Collateral	$ 128,465	$ 147,472
RSO [Member] | RMBS - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Principal Outstanding		22,248
Unamortized Issuance Costs and Discounts		36
Outstanding Borrowings		$ 22,212
Weighted Average Borrowing Rate		1.16%
Weighted Average Remaining Maturity		1 day
Value of Collateral		$ 27,885
Interest Payable	39	31
RSO [Member] | CMBS - Short Term Repurchase Agreements [Member]
Debt Instrument [Line Items]
Principal Outstanding	77,171	44,225
Unamortized Issuance Costs and Discounts	0	0
Outstanding Borrowings	$ 77,171	$ 44,225
Weighted Average Borrowing Rate	1.71%	1.63%
Weighted Average Remaining Maturity	20 days	17 days
Value of Collateral	$ 113,381	$ 62,446
RSO [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Principal Outstanding		113,500
Unamortized Issuance Costs and Discounts	3,491	2,363
Outstanding Borrowings	$ 147,509	$ 111,137
Weighted Average Borrowing Rate	3.05%	2.66%
Weighted Average Remaining Maturity	2 years 2 months 12 days	2 years 8 months 12 days
Value of Collateral	$ 327,681	$ 262,687
Revolving Credit Facility [Member] | RSO [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Principal Outstanding	151,000
Wells Fargo Bank, National Association [Member] | RCC Real Estate [Member] | CRE - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	$ 1,200	$ 1,700
Wells Fargo Bank, National Association [Member] | Linked and Non-linked Transactions [Member] | CRE - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Weighted Average Borrowing Rate		2.38%
Amount at Risk		$ 76,148
Weighted Average Remaining Maturity		20 days
Wells Fargo Bank, National Association [Member] | Linked and Non-linked Transactions [Member] | RSO [Member] | CRE - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Weighted Average Borrowing Rate	2.24%
Amount at Risk	$ 99,791
Weighted Average Remaining Maturity	18 days
Wells Fargo Bank, National Association [Member] | Linked and Non-linked Transactions [Member] | RSO [Member] | CMBS - Term Repurchase Facilities [Member]
Debt Instrument [Line Items]
Weighted Average Borrowing Rate	1.38%	1.35%
Amount at Risk	$ 4,024	$ 6,486
Weighted Average Remaining Maturity	18 days	20 days
Wells Fargo Bank, National Association [Member] | Linked and Non-linked Transactions [Member] | RSO [Member] | RMBS - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Weighted Average Borrowing Rate		1.16%
Amount at Risk		$ 5,017
Weighted Average Remaining Maturity		1 day
Deutsche Bank Securities, Inc [Member] | RCC Real Estate [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	$ 21	$ 268
Deutsche Bank Securities, Inc [Member] | Linked and Non-linked Transactions [Member] | CRE - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Weighted Average Borrowing Rate		2.78%
Amount at Risk		$ 13,017
Weighted Average Remaining Maturity		19 days
Repurchase Agreements [Member] | RSO [Member]
Debt Instrument [Line Items]
Principal Outstanding	$ 377,404	$ 399,662
Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member] | RSO [Member]
Debt Instrument [Line Items]
Weighted Average Borrowing Rate	2.75%	2.75%
Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member] | Linked and Non-linked Transactions [Member] | RSO [Member]
Debt Instrument [Line Items]
Weighted Average Borrowing Rate	2.75%	2.75%
Amount at Risk	$ 25,349	$ 6,902
Weighted Average Remaining Maturity	62 days	183 days
Repurchase Agreements [Member] | New Century Bank [Member] | Linked and Non-linked Transactions [Member] | RSO [Member]
Debt Instrument [Line Items]
Weighted Average Borrowing Rate	2.73%	2.82%
Amount at Risk	$ 6,537	$ 853
Weighted Average Remaining Maturity	61 days	242 days
Repurchase Agreements [Member] | Deutsche Bank Securities, Inc [Member] | RSO [Member]
Debt Instrument [Line Items]
Weighted Average Borrowing Rate	1.64%	1.62%
Repurchase Agreements [Member] | Deutsche Bank Securities, Inc [Member] | Linked and Non-linked Transactions [Member]
Debt Instrument [Line Items]
Weighted Average Borrowing Rate	1.72%
Amount at Risk	$ 22,784
Weighted Average Remaining Maturity	24 days
Repurchase Agreements [Member] | Deutsche Bank Securities, Inc [Member] | Linked and Non-linked Transactions [Member] | RSO [Member]
Debt Instrument [Line Items]
Weighted Average Borrowing Rate		1.62%
Amount at Risk		$ 11,810
Weighted Average Remaining Maturity		20 days
Repurchase Agreements [Member] | Wells Fargo Securities, LLC [Member] | RSO [Member]
Debt Instrument [Line Items]
Weighted Average Borrowing Rate	1.72%	1.66%
Repurchase Agreements [Member] | Wells Fargo Securities, LLC [Member] | Linked and Non-linked Transactions [Member]
Debt Instrument [Line Items]
Weighted Average Borrowing Rate	1.64%
Amount at Risk	$ 13,236
Weighted Average Remaining Maturity	11 days
Repurchase Agreements [Member] | Wells Fargo Securities, LLC [Member] | Linked and Non-linked Transactions [Member] | RSO [Member]
Debt Instrument [Line Items]
Weighted Average Borrowing Rate		1.66%
Amount at Risk		$ 2,127
Weighted Average Remaining Maturity		9 days

VARIABLE INTEREST ENTITIES B112

VARIABLE INTEREST ENTITIES BORROWINGS (Securitization) (Details) - RSO [Member] $ in Millions	Jun. 30, 2015USD ($)
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	$ 262.5
RREF CDO 2006-1 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	194.2
RREF CDO 2007-1 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	215.9
RCC CRE Notes 2013 [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	112.7
RCC CRE Notes 2014 [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	0
RCC CRE Notes 2015 [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	0
Apidos Cinco CDO Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	113.1
Moselle CLO S.A. Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	167.2
Moselle CLO S.A. Securitized Borrowings [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	$ 5

VARIABLE INTEREST ENTITIES B113

VARIABLE INTEREST ENTITIES BORROWINGS (Repurchase and Credit Facilities) (Details) $ in Thousands	Jun. 30, 2015USD ($)Loan	Feb. 28, 2015USD ($)	Dec. 31, 2014USD ($)Loan
RSO [Member]
Debt Instrument [Line Items]
Outstanding Borrowings		$ 282,100
Outstanding Borrowings, Total	$ 1,853,054		$ 1,734,901
Weighted Average Interest Rate	2.56%		2.09%
Unamortized Debt Issuance Expense	$ 1,827,461		$ 1,716,871
RSO [Member] | CRE - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Outstanding Borrowings, Total	$ 174,928		$ 207,640
Weighted Average Interest Rate	2.24%		2.43%
Unamortized Debt Issuance Expense	$ 173,724		$ 205,682
Wells Fargo Bank, National Association [Member] | RCC Real Estate [Member] | CRE - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense	1,200		1,700
Deutsche Bank Securities, Inc [Member] | RCC Real Estate [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense	21		268
Repurchase Agreements [Member] | RSO [Member]
Debt Instrument [Line Items]
Outstanding Borrowings, Total	377,404		399,662
Securities Held as Collateral, at Fair Value	549,862		565,554
Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member] | RSO [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	56,267		61,189
Value of Collateral	$ 81,616		$ 95,511
Number of Positions as Collateral | Loan	170		104
Weighted Average Interest Rate	2.75%		2.75%
Repurchase Agreements [Member] | Deutsche Bank Securities, Inc [Member] | RSO [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	$ 24,114		$ 33,783
Value of Collateral	$ 37,707		$ 44,751
Number of Positions as Collateral | Loan	4		8
Weighted Average Interest Rate	1.64%		1.62%
Repurchase Agreements [Member] | Wells Fargo Securities, LLC [Member] | RSO [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	$ 53,057		$ 10,442
Value of Collateral	$ 75,674		$ 17,695
Number of Positions as Collateral | Loan	20		1
Weighted Average Interest Rate	1.72%		1.66%
Repurchase Agreements [Member] | New Century Bank [Member] | RSO [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	$ 40,313
CMBS - Term Repurchase Facilities [Member] | Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member] | RSO [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	29,929		$ 24,967
Value of Collateral	$ 34,330		$ 30,180
Number of Positions as Collateral | Loan	35		33
Weighted Average Interest Rate	1.38%		1.35%
CRE - Term Repurchase Facility [Member] | Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member] | RSO [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	$ 173,745		$ 179,762
Value of Collateral	$ 273,686		$ 258,223
Number of Positions as Collateral | Loan	13		15
Weighted Average Interest Rate	2.24%		2.38%
CRE - Term Repurchase Facility [Member] | Repurchase Agreements [Member] | Deutsche Bank Securities, Inc [Member] | RSO [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	$ (21)		$ 25,920
Value of Collateral			$ 39,348
Number of Positions as Collateral | Loan	0		2
Weighted Average Interest Rate	0.00%		2.78%
RMBS - Term Repurchase Facility [Member] | Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member] | RSO [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	$ 0		$ 22,212
Value of Collateral	$ 0		$ 27,885
Number of Positions as Collateral | Loan	0		6
Weighted Average Interest Rate	0.00%		1.16%
Unamortized Debt Issuance Expense			$ 36

VARIABLE INTEREST ENTITIES B114

VARIABLE INTEREST ENTITIES BORROWINGS (Schedule of Linked Transactions) (Details) - RSO [Member] - Long-term Debt, Type [Domain] $ in Thousands	Jun. 30, 2015USD ($)Loan	Feb. 28, 2015USD ($)	Dec. 31, 2014USD ($)Loan
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 282,100
Linked transactions, net at fair value	$ 0		$ 15,367
Weighted Average Borrowing Rate	2.56%		2.09%
Linked Transactions [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 33,397
Linked transactions, net at fair value			48,605
Wells Fargo Bank, National Association [Member] | Linked Transactions [Member] | CMBS - Term Repurchase Facilities [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			4,941
Linked transactions, net at fair value			$ 6,371
Number of Positions as Collateral | Loan			7
Weighted Average Borrowing Rate			1.67%
Repurchase Agreements [Member] | JP Morgan Securities, LLC [Member] | Linked Transactions [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 0
Linked transactions, net at fair value			$ 0
Number of Positions as Collateral | Loan			0
Weighted Average Borrowing Rate			0.00%
Repurchase Agreements [Member] | Wells Fargo Securities, LLC [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 53,057		$ 10,442
Number of Positions as Collateral | Loan	20		1
Weighted Average Borrowing Rate	1.72%		1.66%
Repurchase Agreements [Member] | Wells Fargo Securities, LLC [Member] | Linked Transactions [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 4,108
Linked transactions, net at fair value			$ 6,233
Number of Positions as Collateral | Loan			2
Weighted Average Borrowing Rate			1.37%
Repurchase Agreements [Member] | Deutsche Bank Securities, Inc [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 24,114		$ 33,783
Number of Positions as Collateral | Loan	4		8
Weighted Average Borrowing Rate	1.64%		1.62%
Repurchase Agreements [Member] | Deutsche Bank Securities, Inc [Member] | Linked Transactions [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 24,348
Linked transactions, net at fair value			$ 36,001
Number of Positions as Collateral | Loan			10
Weighted Average Borrowing Rate			1.57%
Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 56,267		$ 61,189
Number of Positions as Collateral | Loan	170		104
Weighted Average Borrowing Rate	2.75%		2.75%
Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member] | CMBS - Term Repurchase Facilities [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 29,929		$ 24,967
Number of Positions as Collateral | Loan	35		33
Weighted Average Borrowing Rate	1.38%		1.35%

VARIABLE INTEREST ENTITIES B115

VARIABLE INTEREST ENTITIES BORROWINGS (Details) RSO	Jun. 30, 2015USD ($)	Jan. 13, 2015USD ($)	Oct. 21, 2013USD ($)	Feb. 28, 2015USD ($)	Feb. 28, 2014	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Feb. 18, 2015	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)$ / shares	Mar. 31, 2015USD ($)	Feb. 24, 2015USD ($)	Jan. 31, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 18, 2014USD ($)
RCC CRE Notes 2013 [Member] | Senior Notes Class E [Member]
Debt Instrument [Line Items]
Outstanding Borrowings												$ 20,800,000
Basis spread on variable rate												4.75%
RCC CRE Notes 2013 [Member] | Senior Notes Class F [Member]
Debt Instrument [Line Items]
Outstanding Borrowings												$ 15,600,000
Basis spread on variable rate												5.50%
RCC CRE Notes 2013 [Member] | Senior Notes Class A [Member]
Debt Instrument [Line Items]
Outstanding Borrowings												$ 193,900,000
Basis spread on variable rate												1.40%
RCC CRE Notes 2013 [Member] | Senior Notes Class A-S [Member]
Debt Instrument [Line Items]
Outstanding Borrowings												$ 17,300,000
Basis spread on variable rate												1.65%
RCC CRE Notes 2013 [Member] | Senior Notes Class B [Member]
Debt Instrument [Line Items]
Outstanding Borrowings												$ 19,500,000
Basis spread on variable rate												2.40%
RCC CRE Notes 2013 [Member] | Senior Notes Class C [Member]
Debt Instrument [Line Items]
Outstanding Borrowings												$ 20,800,000
Basis spread on variable rate												3.15%
RCC CRE Notes 2013 [Member] | Senior Notes Class D [Member]
Debt Instrument [Line Items]
Outstanding Borrowings												$ 30,700,000
Basis spread on variable rate												4.00%
RSO [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	$ 262,500,000					$ 262,500,000		$ 262,500,000		$ 262,500,000
Outstanding Borrowings				$ 282,100,000
Percentage of senior notes acquired by the parent				100.00%
Weighted Average Interest Rate	2.56%					2.56%		2.56%		2.56%		2.09%
Unamortized Debt Issuance Expense	$ 1,827,461,000					$ 1,827,461,000		$ 1,827,461,000		$ 1,827,461,000		$ 1,716,871,000
Principal Outstanding	1,853,054,000					1,853,054,000		1,853,054,000		1,853,054,000		$ 1,734,901,000
Convertible senior notes										12,229,000	$ 0
Interest income − other						1,119,000	$ 982,000			1,951,000	$ 3,834,000
RSO [Member] | RCC CRE Notes 2014 [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	$ 0					$ 0		$ 0		$ 0
Weighted Average Interest Rate	1.48%					1.48%		1.48%		1.48%		1.45%
Unamortized Debt Issuance Expense	$ 231,846,000					$ 231,846,000		$ 231,846,000		$ 231,846,000		$ 231,657,000
Principal Outstanding	$ 235,344,000					$ 235,344,000		$ 235,344,000		$ 235,344,000		$ 235,344,000
RSO [Member] | CMBS - Term Repurchase Facilities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.38%					1.38%		1.38%		1.38%
Unamortized Debt Issuance Expense	$ 29,929,000					$ 29,929,000		$ 29,929,000		$ 29,929,000
Principal Outstanding	$ 29,929,000					$ 29,929,000		$ 29,929,000		$ 29,929,000
RSO [Member] | CRE - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.24%					2.24%		2.24%		2.24%		2.43%
Unamortized Debt Issuance Expense	$ 173,724,000					$ 173,724,000		$ 173,724,000		$ 173,724,000		$ 205,682,000
Principal Outstanding	174,928,000					174,928,000		174,928,000		174,928,000		$ 207,640,000
RSO [Member] | RMBS - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate												1.16%
Unamortized Debt Issuance Expense												$ 22,212,000
Principal Outstanding												$ 22,248,000
RSO [Member] | Moselle CLO S.A. Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	167,200,000					167,200,000		167,200,000		167,200,000
Weighted Average Interest Rate												1.49%
Unamortized Debt Issuance Expense												$ 63,321,000
Principal Outstanding												$ 63,321,000
RSO [Member] | Moselle CLO S.A. Securitized Borrowings [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	5,000,000					5,000,000		5,000,000		5,000,000
Weighted Average Interest Rate												1.49%
Unamortized Debt Issuance Expense	159,000					159,000		159,000		159,000		$ 5,619,000
Principal Outstanding	159,000					159,000		159,000		159,000		$ 5,619,000
RSO [Member] | Convertible Debt [Member]
Debt Instrument [Line Items]
Interest rate		8.00%
RSO [Member] | Convertible Debt [Member] | Eight Percent Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Outstanding Borrowings		$ 100,000,000
Debt Instrument, Unamortized Discount			$ 1,000,000
Unamortized Debt Issuance Expense			$ 2,100,000
Convertible senior notes		97,000,000
Debt Conversion, Converted Instrument, Shares Issuable Upon Conversion			187.4414
Debt Instrument, Convertible, Conversion Price | $ / shares												$ 5.34
Debt Instrument, Convertible, Discount Adjustment, Fair Value Without Conversion Feature		$ 2,500,000
RSO [Member] | RCC CRE Notes 2015 [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	$ 0					$ 0		$ 0		$ 0
Closing transaction amount														$ 346,200,000
Weighted Average Interest Rate	2.08%					2.08%		2.08%		2.08%
Ownership interests in variable interest entity				100.00%
Unamortized Debt Issuance Expense	$ 278,228,000					$ 278,228,000		$ 278,228,000		$ 278,228,000
Principal Outstanding	282,127,000					282,127,000		282,127,000		282,127,000
RSO [Member] | RCC CRE Notes 2013 [Member]
Debt Instrument [Line Items]
Debt Instrument, Cumulative Amount Repaid	$ 112,700,000					$ 112,700,000		$ 112,700,000		$ 112,700,000
Weighted Average Interest Rate	2.28%					2.28%		2.28%		2.28%		2.11%
Unamortized Debt Issuance Expense	$ 145,786,000					$ 145,786,000		$ 145,786,000		$ 145,786,000		$ 224,157,000
Principal Outstanding	$ 148,115,000					$ 148,115,000		$ 148,115,000		$ 148,115,000		$ 226,840,000
RSO [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.05%					3.05%		3.05%		3.05%		2.66%
Unamortized Debt Issuance Expense	$ 147,509,000					$ 147,509,000		$ 147,509,000		$ 147,509,000		$ 111,137,000
Principal Outstanding												$ 113,500,000
RCC Commercial [Member] | RCC CRE Notes 2015 [Member]
Debt Instrument [Line Items]
Payments by parent to acquire notes issued by VIE				$ 27,700,000
RCC Commercial [Member] | RCC CRE Notes 2015 [Member] | Senior Notes Class E [Member]
Debt Instrument [Line Items]
Payments by parent to acquire notes issued by VIE				20,800,000
RCC Commercial [Member] | RCC CRE Notes 2015 [Member] | Senior Notes Class F [Member]
Debt Instrument [Line Items]
Payments by parent to acquire notes issued by VIE				$ 15,600,000
Moselle [Member] | RSO [Member] | Class 2 Subordinated Notes [Member]
Debt Instrument [Line Items]
Percentage of Outstanding Notes Purchased					67.90%
Wells Fargo Bank, National Association [Member] | CRE - Term Repurchase Facility [Member] | Linked and Non-linked Transactions [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate												2.38%
Wells Fargo Bank, National Association [Member] | RSO [Member] | CMBS - Term Repurchase Facilities [Member] | Linked and Non-linked Transactions [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.38%					1.38%		1.38%		1.38%		1.35%
Wells Fargo Bank, National Association [Member] | RSO [Member] | CRE - Term Repurchase Facility [Member] | Linked and Non-linked Transactions [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.24%					2.24%		2.24%		2.24%
Wells Fargo Bank, National Association [Member] | RSO [Member] | RMBS - Term Repurchase Facility [Member] | Linked and Non-linked Transactions [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate												1.16%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum										1.45%
Line of Credit Facility, Maximum Borrowing Capacity															$ 110,000,000
Wells Fargo Bank, National Association [Member] | RSO [Member] | Jumbo Loans - Term Repurchase Facility [Member] | Linked and Non-linked Transactions [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum										3.00%
Line of Credit Facility, Maximum Borrowing Capacity															$ 165,000,000
Wells Fargo Bank, National Association [Member] | RCC Real Estate [Member] | CRE - Term Repurchase Facility [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense	$ 1,200,000					$ 1,200,000		$ 1,200,000		$ 1,200,000		$ 1,700,000
Repurchase Agreements [Member] | RSO [Member]
Debt Instrument [Line Items]
Principal Outstanding	377,404,000					377,404,000		377,404,000		377,404,000		399,662,000
Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member] | RSO [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	$ 56,267,000					$ 56,267,000		$ 56,267,000		$ 56,267,000		$ 61,189,000
Weighted Average Interest Rate	2.75%					2.75%		2.75%		2.75%		2.75%
Repurchase Agreements [Member] | Wells Fargo Bank, National Association [Member] | RSO [Member] | Linked and Non-linked Transactions [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.75%					2.75%		2.75%		2.75%		2.75%
Repurchase Agreements [Member] | New Century Bank [Member] | RSO [Member]
Debt Instrument [Line Items]
Outstanding Borrowings	$ 40,313,000					$ 40,313,000		$ 40,313,000		$ 40,313,000
Repurchase Agreements [Member] | New Century Bank [Member] | RSO [Member] | Linked and Non-linked Transactions [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.73%					2.73%		2.73%		2.73%		2.82%
Revolving Credit Facility [Member] | RSO [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Principal Outstanding	$ 151,000,000					$ 151,000,000		$ 151,000,000		$ 151,000,000
Revolving Credit Facility [Member] | Northport LLC [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	25.00%
Availability on the line of credit facility	$ 74,000,000					74,000,000		74,000,000		74,000,000
Revolving Credit Facility [Member] | Northport LLC [Member] | RSO [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity																	$ 110,000,000
Revolving Credit Facility [Member] | Northport LLC [Member] | RSO [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Principal Outstanding	151,000,000					151,000,000		151,000,000		151,000,000
Line of Credit Facility, Maximum Borrowing Capacity	225,000,000					225,000,000		225,000,000		225,000,000
Line of Credit Facility, Maximum Borrowing Capacity, Effective Commitment													$ 140,000,000			$ 125,000,000
Line of Credit Facility, Increase Borrowing Capacity	$ 85,000,000					$ 85,000,000		$ 85,000,000		$ 85,000,000
Revolving Credit Facility [Member] | Minimum [Member] | Northport LLC [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Commitment Fee Percentage, Ramp Up Period									0.375%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage, Ramp Up Period									35.00%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage								35.00%
Revolving Credit Facility [Member] | Maximum [Member] | Northport LLC [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Commitment Fee Percentage, Ramp Up Period									0.50%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage, Ramp Up Period									35.00%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage								35.00%
Origination fee with establishment of line of credit facility (in hundredths)								1.00%
Prime Rate [Member] | Revolving Credit Facility [Member] | Northport LLC [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	3.25%

VARIABLE INTEREST ENTITIES RELA

VARIABLE INTEREST ENTITIES RELATED PARTY TRANSACTIONS (Details) RSO	Nov. 07, 2013USD ($)shares	Jan. 11, 2013	Feb. 15, 2012	Sep. 03, 2011	Feb. 24, 2011USD ($)	Mar. 05, 2010USD ($)	Mar. 31, 2015USD ($)	May. 31, 2013	Oct. 31, 2012	Jun. 30, 2015USD ($)Entity	Jun. 30, 2014USD ($)	Jul. 31, 2013USD ($)	Jun. 30, 2015USD ($)Entity	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Mar. 05, 2011	Apr. 30, 2015USD ($)
Related Party Transaction [Line Items]
Direct financing leases										$ 1,590,000			$ 1,590,000		$ 2,109,000
Number of Collateralized Loan Obligation Issuers | Entity										5			5
Lease Equity Appreciation Fund II [Member]
Related Party Transaction [Line Items]
Origination fee with establishment of line of credit facility (in hundredths)						1.00%
Churchill Pacific Asset Management LLC [Member]
Related Party Transaction [Line Items]
Assets under management, carrying amount										$ 1,900,000,000			$ 1,900,000,000
CVC Credit Partners [Member]
Related Party Transaction [Line Items]
Investment management fee, percentage										1.50%			1.50%
RSO [Member]
Related Party Transaction [Line Items]
Provision (recovery) for loan losses													$ (42,800,000)		(1,804,000)
Income (loss) and interest expense from equity method investments										$ (60,000)	$ (1,335,000)		(173,000)	$ (2,836,000)
Investments in unconsolidated entities										56,150,000			56,150,000		59,827,000		$ 750,000
Preferred equity acquired									66.60%
Management Fees Related Party										3,500,000	3,314,000		7,060,000	6,394,000
RSO [Member] | Manager pursuant to the Management Agreement [Member]
Related Party Transaction [Line Items]
Incentive Management Fees Related Party											0		$ 0	0
RSO [Member] | Lease Equity Appreciation Fund II [Member]
Related Party Transaction [Line Items]
Revolving credit facility, maximum borrowing capacity						$ 8,000,000
Line of credit facility, term (in years)																1 year
Line of credit facility, interest rate during period (in hundredths)			12.00%										10.00%
Line of credit facility, extension fee percentage (in hundredths)		1.00%	1.00%	1.00%
RSO [Member] | Churchill Pacific Asset Management LLC [Member]
Related Party Transaction [Line Items]
Ownership percentage					100.00%
Purchase price of acquired entity paid by acquiring entity					$ 22,500,000
RSO [Member] | Ledgewood [Member]
Related Party Transaction [Line Items]
Legal fees										61,000	120,000		$ 334,000	158,000
RSO [Member] | Resource Capital Markets, Inc. [Member]
Related Party Transaction [Line Items]
Management Fees Related Party										0
Management Fee Portion Of Net Profits In Excess Of Preferred Return										$ 0
Resource America [Member] | CVC Capital Partners [Member]
Related Party Transaction [Line Items]
Ownership percentage										33.00%			33.00%
Apidos Capital Management LLC [Member] | CVC Capital Partners [Member]
Related Party Transaction [Line Items]
Percentage of subordinated fees the company is entitled to collect										10.00%			10.00%
Percentage of incentive fees the company is entitled to collect										50.00%			50.00%
Subordinated Fees										$ 221,000	330,000		$ 458,000	700,000
Interest in LCC [Member]
Related Party Transaction [Line Items]
Income (loss) and interest expense from equity method investments										(350,000)	278,000		(402,000)	872,000
Investments in unconsolidated entities															39,400,000
Interest in LCC [Member] | RSO [Member]
Related Party Transaction [Line Items]
Income (loss) and interest expense from equity method investments										(350,000)	278,000		(402,000)	872,000
Investments in unconsolidated entities										39,819,000			39,819,000		39,416,000
Investment in CVC Global Opps Fund [Member]
Related Party Transaction [Line Items]
Income (loss) and interest expense from equity method investments										(312,000)	(1,100,000)		(920,000)	(2,000,000)
Proceeds from Divestiture of Businesses and Interests in Affiliates							$ 5,000,000
Investments in unconsolidated entities										14,100,000			14,100,000		18,209,000
Investment in CVC Global Opps Fund [Member] | RSO [Member]
Related Party Transaction [Line Items]
Income (loss) and interest expense from equity method investments										(312,000)	(1,124,000)		(920,000)	(1,958,000)
Proceeds from Divestiture of Businesses and Interests in Affiliates							$ 5,000,000
Investments in unconsolidated entities										$ 14,129,000			$ 14,129,000
Ownership percentage										17.40%			17.40%
RRE VIP Borrower, LLC [Member] | RSO [Member]
Related Party Transaction [Line Items]
Income (loss) and interest expense from equity method investments										$ 0	(870,000)		$ (46,000)	(1,736,000)
Equity Method Investments															0
Investments in unconsolidated entities										0			0		0
Varde Investment Partners, LP [Member] | RSO [Member]
Related Party Transaction [Line Items]
Income (loss) and interest expense from equity method investments										0	$ 19,000		0	$ 20,000
Investments in unconsolidated entities										$ 654,000			$ 654,000		654,000
Ownership percentage										7.50%			7.50%
Varde Investment Partners, LP [Member] | RSO [Member] | Resource Real Estate Management, LLC [Member]
Related Party Transaction [Line Items]
Management Fees Related Party										$ 0
Whitney CLO I, Ltd. [Member]
Related Party Transaction [Line Items]
Ownership percentage in VIE								68.30%
Variable Interest Entity, Not Primary Beneficiary [Member] | Investment in CVC Global Opps Fund [Member]
Related Party Transaction [Line Items]
Payments to Acquire Equity Method Investments												$ 15,000,000
Loans Receivable - Related Party [Member]
Related Party Transaction [Line Items]
Provision (recovery) for loan losses										28,000			$ 216,000		(1,300,000)
Loans Receivable - Related Party [Member] | RSO [Member]
Related Party Transaction [Line Items]
Provision (recovery) for loan losses													$ 216,000		$ (1,297,000)
Elevation Home Loans, LLC [Member]
Related Party Transaction [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	$ 830,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares	136,659
Whispertree Apartments [Member] | RCC Real Estate [Member] | Resource Real Estate Management, LLC [Member]
Related Party Transaction [Line Items]
Management Fees Related Party										$ 0

VARIABLE INTEREST ENTITIES FAIR

VARIABLE INTEREST ENTITIES FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities Measured at Fair Value) (Details) RSO - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets:
Investment securities, trading	$ 281	$ 475
Investment securities available-for-sale	10,589	9,065
RSO [Member]
Assets:
Investment securities, trading	32,680	20,786
Investment securities available-for-sale	253,428	275,720
CMBS - linked transactions	0	15,367
Derivatives, at fair value	4,289	5,304
RSO [Member] | Recurring Basis [Member]
Assets:
Investment securities, trading	32,680	20,786
Investment securities available-for-sale	253,428	275,720
Loans held for sale	105,094
CMBS - linked transactions		15,367
Derivatives, at fair value	4,289	5,304
Total assets at fair value	395,491	317,177
Liabilities:
Moselle CLO Notes		68,940
Derivatives (net)	(6,991)	8,476
Total liabilities at fair value	(6,991)	77,416
RSO [Member] | Recurring Basis [Member] | Level 1 [Member]
Assets:
Investment securities, trading	0	0
Investment securities available-for-sale	0	0
Loans held for sale	0
CMBS - linked transactions		0
Derivatives, at fair value	0	3,429
Total assets at fair value	0	3,429
Liabilities:
Moselle CLO Notes		0
Derivatives (net)	0	0
Total liabilities at fair value	0	0
RSO [Member] | Recurring Basis [Member] | Level 2 [Member]
Assets:
Investment securities, trading	0	0
Investment securities available-for-sale	4,865	33,158
Loans held for sale	64,751
CMBS - linked transactions		0
Derivatives, at fair value	1,275	7
Total assets at fair value	70,891	33,165
Liabilities:
Moselle CLO Notes		0
Derivatives (net)	(355)	0
Total liabilities at fair value	(355)	0
RSO [Member] | Recurring Basis [Member] | Level 3 [Member]
Assets:
Investment securities, trading	32,680	20,786
Investment securities available-for-sale	248,563	242,562
Loans held for sale	40,343
CMBS - linked transactions		15,367
Derivatives, at fair value	3,014	1,868
Total assets at fair value	324,600	280,583
Liabilities:
Moselle CLO Notes		68,940
Derivatives (net)	(6,636)	8,476
Total liabilities at fair value	$ (6,636)	$ 77,416

VARIABLE INTEREST ENTITIES F118

VARIABLE INTEREST ENTITIES FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets Measured on Recurring Basis) (Details) RSO - RSO [Member] - Level 3 [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 363,963
Included in earnings	24,773
Unlined transactions	33,239
Purchases	117,350
Sales	(137,202)
Paydowns	(45,501)
Issuances	0
Settlements	(29,281)
Included in OCI	(6,612)
Transfers into level 3	3,872
Ending balance	324,601
CMBS Including Linked Transactions [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	185,772
Included in earnings	849
Unlined transactions	33,239
Purchases	7,219
Sales	0
Paydowns	(41,706)
Issuances	0
Settlements	0
Included in OCI	(51)
Transfers into level 3	0
Ending balance	185,322
ABS [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	72,157
Included in earnings	4,226
Unlined transactions	0
Purchases	10,350
Sales	(5,594)
Paydowns	(3,208)
Issuances	0
Settlements	(11,216)
Included in OCI	(7,345)
Transfers into level 3	3,872
Ending balance	63,242
Structured Finance Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	20,786
Included in earnings	1,673
Unlined transactions	0
Purchases	19,264
Sales	(9,339)
Paydowns	(488)
Issuances	0
Settlements	0
Included in OCI	784
Transfers into level 3	0
Ending balance	32,680
Structured Finance [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	898
Included in earnings	76
Unlined transactions	0
Purchases	0
Sales	0
Paydowns	0
Issuances	0
Settlements	0
Included in OCI	0
Transfers into level 3	0
Ending balance	974
Interest Rate Lock Commitments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	970
Included in earnings	19,135
Unlined transactions	0
Purchases	0
Sales	0
Paydowns	0
Issuances	0
Settlements	(18,065)
Included in OCI	0
Transfers into level 3	0
Ending balance	2,040
Held for Sale [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	83,380
Included in earnings	(1,186)
Unlined transactions	0
Purchases	80,517
Sales	(122,269)
Paydowns	(99)
Issuances	0
Settlements	0
Included in OCI	0
Transfers into level 3	0
Ending balance	$ 40,343

VARIABLE INTEREST ENTITIES F119

VARIABLE INTEREST ENTITIES FAIR VALUE OF FINANCIAL INSTRUMENTS (Liabilities Measured on a Recurring Basis Level 3 Inputs) (Details) - RSO [Member] - Interest Rate Swap [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	$ 8,680
Unrealized gains - included in accumulated other comprehensive income	(2,237)
Included in earnings	$ (134)

VARIABLE INTEREST ENTITIES F120

VARIABLE INTEREST ENTITIES FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities, Quantitative Information) (Details) RSO - RSO [Member] - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Loans held for sale	$ 6,028	$ 36,956
Impaired loans	2,223	139,489
Total assets at fair value	8,251	176,445
Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Loans held for sale	0	0
Impaired loans	0	0
Total assets at fair value	0	0
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Loans held for sale	6,028	36,956
Impaired loans	2,223	1,678
Total assets at fair value	8,251	38,634
Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Loans held for sale	0	0
Impaired loans	0	137,811
Total assets at fair value	$ 0	$ 137,811

VARIABLE INTEREST ENTITIES F121

VARIABLE INTEREST ENTITIES FAIR VALUE OF FINANCIAL INSTRUMENTS (Significant Observable Outputs) (Details) RSO (Details) - Jun. 30, 2015 - Discounted Cash Flow Technique [Member] - Derivative Financial Instruments, Liabilities [Member] - Level 3 [Member] - RSO [Member] - USD ($) $ in Thousands	Total
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets at fair value	$ 6,300
Interest Rate Swap [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Significant Unobservable Input Value	4.55%

VARIABLE INTEREST ENTITIES F122

VARIABLE INTEREST ENTITIES FAIR VALUE OF FINANCIAL INSTRUMENTS (Fair Value, by Balance Sheet Grouping) (Details) RSO - RSO [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held-for-investment	$ 2,042,885	$ 1,925,980
Loans receivable-related party	0	558
Senior secured revolving credit agreement	25,593	18,030
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held-for-investment	2,042,885	1,925,980
Loans receivable-related party		558
CDO notes	1,047,172	1,046,493
Junior subordinated notes	51,308	51,205
Convertible Notes Payable	204,068	108,374
Repurchase agreements	377,404	399,662
Senior secured revolving credit agreement	147,509	111,137
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held-for-investment	2,030,262	1,909,019
Loans receivable-related party		558
CDO notes	929,970	975,762
Junior subordinated notes	17,802	17,699
Convertible Notes Payable	204,068	108,374
Repurchase agreements	377,404	399,662
Senior secured revolving credit agreement	147,509	111,137
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held-for-investment	0	0
Loans receivable-related party		0
CDO notes	0	0
Junior subordinated notes	0	0
Convertible Notes Payable	0	0
Repurchase agreements	0	0
Senior secured revolving credit agreement	0	0
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held-for-investment	508,407	570,071
Loans receivable-related party		0
CDO notes	0	0
Junior subordinated notes	0	0
Convertible Notes Payable	0	0
Repurchase agreements	0	0
Senior secured revolving credit agreement	0	0
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held-for-investment	1,521,855	1,338,948
Loans receivable-related party		558
CDO notes	929,970	975,762
Junior subordinated notes	17,802	17,699
Convertible Notes Payable	204,068	108,374
Repurchase agreements	377,404	399,662
Senior secured revolving credit agreement	$ 147,509	$ 111,137

VARIABLE INTEREST ENTITIES F123

VARIABLE INTEREST ENTITIES FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) RSO - Major Types of Debt and Equity Securities [Domain] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 10,589		$ 10,589		$ 9,065
RSO [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	253,428		253,428		275,720
Principal Outstanding	1,853,054		1,853,054		1,734,901
Provision (recovery of) for loan losses	38,810	$ 782	42,800	$ (3,178)
Fair Value Assumptions, Market Capitalization			$ 143,700
Fair Value Assumptions, Expected Volatility Rate			50.00%
RSO [Member] | Recurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	253,428		$ 253,428		275,720
RSO [Member] | Recurring Basis [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	4,865		4,865		33,158
RSO [Member] | Recurring Basis [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	248,563		248,563		242,562
RSO [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Provision (recovery of) for loan losses	38,900	440	41,400	440
Assets Held-for-sale [Member] | RSO [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Provision (recovery of) for loan losses	85	$ 60	806	$ 60
Moselle CLO S.A. Securitized Borrowings [Member] | RSO [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Outstanding	$ 159		$ 159		$ 5,619

VARIABLE INTEREST ENTITIES RAI

VARIABLE INTEREST ENTITIES RAI - OTHER VIE (VIEs not consolidated) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]
Loans and receivables from managed entities and related parties, net	$ 26,520	$ 30,303
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	5,142
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	158
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	621
Variable Interest Entity, Not Primary Beneficiary [Member] | RRE Global Opportunity Fund [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	716
Variable Interest Entity, Not Primary Beneficiary [Member] | Pearlmark Real Estate Partners [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	3,647
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]
Loans and receivables from managed entities and related parties, net	158
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]
Loans and receivables from managed entities and related parties, net	158
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]
Loans and receivables from managed entities and related parties, net	0
Receivables from Managed Entities and Related Parties [Member] | RRE Global Opportunity Fund [Member]
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]
Loans and receivables from managed entities and related parties, net	0
Receivables from Managed Entities and Related Parties [Member] | Pearlmark Real Estate Partners [Member]
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]
Loans and receivables from managed entities and related parties, net	0
Investments [Member]
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]
Investments	4,984
Investments [Member] | Ischus Entities [Member]
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]
Investments	0
Investments [Member] | Trapeza entities [Member]
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]
Investments	621
Investments [Member] | RRE Global Opportunity Fund [Member]
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]
Investments	716
Investments [Member] | Pearlmark Real Estate Partners [Member]
Carrying amounts of assets of nonconsolidated VIEs and maximum exposure to loss associated with these VIEs [Abstract]
Investments	$ 3,647

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Millions	Aug. 03, 2015USD ($)	Jun. 30, 2015	Sep. 18, 2014USD ($)
RSO [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Equity and Debt Securities, Authorized Amount	$ 50
Stockholders' Equity Note, Stock Split, Conversion Ratio	4
Revolving Credit Facility [Member] | Northport LLC [Member]
Subsequent Event [Line Items]
Basis spread on variable rate		25.00%
Revolving Credit Facility [Member] | Northport LLC [Member] | RSO [Member]
Subsequent Event [Line Items]
Maximum borrowing capacity			$ 110
LIBOR [Member] | Revolving Credit Facility [Member] | Northport LLC [Member]
Subsequent Event [Line Items]
Basis spread on variable rate		2.75%
Base Rate [Member] | Revolving Credit Facility [Member] | Northport LLC [Member]
Subsequent Event [Line Items]
Basis spread on variable rate		1.75%