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
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities    
Net income (loss) $ 2,813 $ (1,219)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of intangibles 62 105
Equity-based compensation 450  
Amortization of deferred financing fees 438  
Noncash gain on securitizations and payment in kind income   (6)
Amortization of servicing assets 153 155
Change in securitization residual assets 360  
Change in financing receivables and investments held-for-sale 16,801  
Change in accounts payable, dividends payable and accrued expenses 1,190 138
Other 244 (3,405)
Net cash provided by (used in) operating activities 22,511 (4,232)
Cash flows from investing activities    
Purchases of financing receivables (48,660) (8,620)
Principal collections from financing receivables 9,644 7,767
Principal collections from investments 688  
Purchase of property and equipment 20  
Proceeds from affiliate   255
Change in restricted cash 6,804  
Net cash used in investing activities (31,504) (598)
Cash flows from financing activities    
Proceeds from nonrecourse debt   8,632
Principal payments on nonrecourse debt (9,137) (7,981)
Proceeds from credit facility 40,000  
Principal payments on credit facility   (528)
Principal payments on asset-backed nonrecourse notes (1,339)  
Payments on deferred funding obligations (7,470)  
Payment of deferred financing costs (102)  
Redemption of OP units (1,523)  
Payment of dividends (3,628)  
Distributions to non-controlling interest holders (79)  
Net cash provided by financing activities 16,722 123
Increase (decrease) in cash and cash equivalents 7,729 (4,707)
Cash and cash equivalents at beginning of period 31,846 8,024
Cash and cash equivalents at end of period 39,575 3,317
Interest paid $ 3,800 $ 2,566