v3.25.2
Segment Information - Origination Data (Details)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
USD ($)
loan
Jun. 30, 2024
USD ($)
loan
Mar. 31, 2024
USD ($)
Jun. 30, 2025
USD ($)
loan
Jun. 30, 2024
USD ($)
loan
Agency Business Loan Sales Data:          
Loan commitments not serviced     $ 160,200    
MSR rate, loan commitments not serviced         0.0132
Structured Business          
Segment Information          
Total New Loan Originations $ 716,544 $ 227,184   $ 1,463,665 $ 483,038
SFR 405,384 277,260   659,784 688,877
Loan Runoff 519,709 629,641   941,650 1,269,659
Structured Business | Bridge loan          
Segment Information          
Total New Loan Originations 634,286 215,500   1,358,330 426,225
Structured Business | Mezzanine loans          
Segment Information          
Total New Loan Originations 6,999 11,684   11,439 56,813
Structured Business | Multifamily | Bridge loan          
Segment Information          
Total New Loan Originations $ 103,300 $ 19,650   $ 471,050 $ 58,885
Structured Business | SFR - Fixed Rate          
Segment Information          
Number of loans | loan 19 45   39 104
SFR $ 232,384 $ 277,260   $ 394,784 $ 688,877
Structured Business | SFR - Fixed Rate | Bridge loan          
Segment Information          
Total New Loan Originations 530,986 185,500   887,280 356,990
Structured Business | Land | Bridge loan          
Segment Information          
Total New Loan Originations 0 10,350   0 10,350
Structured Business | Construction - multifamily          
Segment Information          
Total New Loan Originations 75,259 0   93,896 0
SFR 173,000 0   265,000 0
Agency Business          
Segment Information          
Origination Volumes 857,097 1,149,255   1,463,005 1,995,514
Total Loan Commitment Volume 852,766 1,099,713   1,498,167 2,033,956
Agency Business Loan Sales Data:          
Loan Sales $ 807,020 $ 1,135,287   $ 1,537,874 $ 2,220,661
Sales margin (fee-based services as a % of loan sales) 1.69% 1.54%   1.72% 1.54%
MSR rate (MSR income as a % of loan commitments) 1.28% 1.32%   1.27% 1.22%
Agency Business | SFR - Fixed Rate          
Segment Information          
Origination Volumes $ 23,552 $ 24,996   $ 32,663 $ 27,314
Agency Business Loan Sales Data:          
Loan Sales 16,885 24,996   25,996 27,314
Agency Business | Fannie Mae          
Segment Information          
Origination Volumes 683,206 742,724   1,041,017 1,201,153
Agency Business Loan Sales Data:          
Loan Sales 657,305 731,237   1,013,021 1,457,135
Agency Business | Freddie Mac          
Segment Information          
Origination Volumes 150,339 346,821   328,359 716,923
Agency Business Loan Sales Data:          
Loan Sales 114,464 332,921   412,949 662,600
Agency Business | Private Label          
Segment Information          
Origination Volumes 0 34,714   44,925 50,124
Agency Business Loan Sales Data:          
Loan Sales 0 34,714   0 50,124
Agency Business | FHA          
Segment Information          
Origination Volumes 0 0   16,041 0
Agency Business Loan Sales Data:          
Loan Sales $ 18,366 $ 11,419   $ 85,908 $ 23,488