Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities    
Net income (loss) $ (5,099) $ 3,691
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Undistributed loss from equity method investment in affiliate   485
Unrealized gain on derivative instrument (15) (44)
Depreciation and amortization of intangibles 277 326
Equity-based compensation 6,629 7
Amortization of deferred financing fees 334  
Noncash gain on securitizations and payment in kind income (841) (8)
Amortization of servicing assets 302 275
Change in securitization residual assets 89 234
Changes in other assets and liabilities:    
Financing receivable held for sale (707)  
Accounts payable and accrued expenses (1,093) (1,886)
Other (1,236) (142)
Net cash (used in) provided by operating activities (1,360) 2,938
Cash flows from investing activities    
Purchases of financing receivables (89,741) (94,482)
Principal collections from financing receivables 18,099 45,174
Purchases of investments (87,525)  
Purchase of property and equipment (3) (65)
Investment in equity method affiliate   (2,920)
Distribution received from equity method affiliate   14,294
Advances to affiliates 269 50
Proceeds from marketable securities   507
Purchase of marketable securities   (255)
Change in restricted cash (38,872) 196
Net cash used in investing activities (197,773) (37,501)
Cash flows from financing activities    
Proceeds from nonrecourse debt 29,122 95,291
Principal payments on nonrecourse debt (37,286) (45,713)
Proceeds from credit facility 84,000  
Principal payments on credit facility (4,333) (1,711)
Payments on deferred funding obligations (6,836)  
Payment of deferred financing costs (8,413)  
Net proceeds from issuance of equity 160,092  
Payment of dividends (992)  
Distributions to non-controlling interest holders (28)  
Net cash provided by financing activities 215,326 47,867
Increase in cash and cash equivalents 16,193 13,304
Cash and cash equivalents at beginning of period 8,024 7,644
Cash and cash equivalents at end of period $ 24,217 $ 20,948