INVESTMENT SECURITIES AVAILABLE-FOR-SALE (Tables)
 12 Months Ended
Dec. 31, 2015
Available-for-sale Securities [Abstract]  
Available-for-sale Securities
The following table summarizes the Company's sales of investment securities available-for-sale during the period indicated (in thousands, except number of securities):
 
Positions
Sold
 
Positions Redeemed
 
Par Amount Sold/Redeemed
 
Realized Gain (Loss)
For the Year Ended December 31, 2015:
 
 
 
 
 
 
 
ABS
24
 
3
 
$
69,901

 
$
9,197

RMBS
6
 
—
 
$
28,305

 
$
984

CMBS
1
 
—
 
$
3,000

 
$
(58
)
 
 
 
 
 
 
 
 
For the Year Ended December 31, 2014:
 
 
 
 
 
 
 
ABS
8
 
1
 
$
14,074

 
$
2,948

Corporate bond
—
 
2
 
$
1,630

 
$
48

CMBS
5
 
—
 
$
27,370

 
$
573

The following table summarizes the Company's investment securities, including those pledged as collateral and classified as available-for-sale, which are carried at fair value (in thousands):
 
Amortized Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair Value (1)
As of December 31, 2015:
 
 
 
 
 
 
 
CMBS
$
158,584

 
$
2,631

 
$
(1,791
)
 
$
159,424

RMBS
2,156

 
122

 
(88
)
 
2,190

ABS
41,994

 
3,218

 
(998
)
 
44,214

Corporate Bonds
2,422

 
—

 
(162
)
 
2,260

Total
$
205,156

 
$
5,971

 
$
(3,039
)
 
$
208,088

 
 
 
 
 
 
 
 
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 December 31, 2015 and 2014, $162.3 million and $197.8 million, respectively, of securities were pledged as collateral security under related financings.
Estimated maturities of available-for-sale securities
The following table summarizes the estimated maturities of the Company’s CMBS, RMBS, ABS and corporate bonds according to their estimated weighted average life classifications (in thousands, except percentages):
Weighted Average Life
Fair Value
 
Amortized Cost
 
Weighted Average Coupon
As of December 31, 2015:
 
 
 
 
 
Less than one year
$
117,221

(1) 
$
118,215

 
7.13%
Greater than one year and less than five years
71,370

 
68,808

 
5.31%
Greater than five years and less than ten years
12,382

 
11,271

 
10.45%
Greater than ten years
7,115

 
6,862

 
16.85%
Total
$
208,088

 
$
205,156

 
7.03%
 
 
 
 
 
 
As of December 31, 2014:
 

 
 

 
 
Less than one year
$
78,095

(1) 
$
79,649

 
4.13%
Greater than one year and less than five years
115,302

 
100,909

 
4.64%
Greater than five years and less than ten years
20,177

 
17,516

 
16.45%
Greater than ten years
62,146

 
58,441

 
7.86%
Total
$
275,720

 
$
256,515

 
6.08%
 
(1)    The Company expects that the maturity date of these CMBS and ABS will either be extended or that they will be paid in full.
Gross unrealized loss and fair value of securities
The following table shows the fair value, gross unrealized losses and number of securities aggregated by investment category and length of time, that individual investment securities available-for-sale have been in a continuous unrealized loss position during the periods specified (in thousands, except number of securities):
 
Less than 12 Months
 
More than 12 Months
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Number of
Securities
 
Fair
Value
 
Unrealized
Losses
 
Number of
Securities
 
Fair
Value
 
Unrealized
Losses
 
Number of
Securities
As of December 31, 2015:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CMBS
$
79,570

 
$
(849
)
 
31

 
$
13,783

 
$
(942
)
 
15

 
$
93,353

 
$
(1,791
)
 
46

RMBS
1,157

 
(88
)
 
2

 
—

 
—

 
—

 
1,157

 
(88
)
 
2

ABS
2,330

 
(824
)
 
5

 
668

 
(174
)
 
5

 
2,998

 
(998
)
 
10

Corporate bonds
65

 
(18
)
 
1

 
1,327

 
(144
)
 
1

 
1,392

 
(162
)
 
2

Total temporarily
impaired securities
$
83,122

 
$
(1,779
)
 
39

 
$
15,778

 
$
(1,260
)
 
21

 
$
98,900

 
$
(3,039
)
 
60

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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