v3.25.2
Fair Value - Carrying Value and Estimated Fair Value (Details) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Financial assets:    
Loans and investments, net, Principal/Notional Amount $ 11,609,235 $ 11,304,956
Loans and investments, net 11,333,023 11,033,997
Loans held-for-sale, net, Principal/Notional Amount 361,138 438,233
Loans held-for-sale, net 361,138 438,233
Securities, held-to-maturity, net, Principal/Notional Amount 229,890 230,012
Securities held-to-maturity, net 156,920 157,154
Derivative financial instruments, Principal/Notional Amount 255,081 41,724
Financial liabilities:    
Credit and repurchase facilities, Principal/Notional Amount 4,730,120 3,568,361
Credit and repurchase facilities 4,721,622 3,559,490
Securitized debt 3,510,865 4,622,489
Senior unsecured notes 1,238,174 1,236,147
Convertible senior unsecured notes 287,258 285,853
Junior subordinated notes 145,085 144,686
Mortgage notes payable - real estate owned 184,618 74,897
Mortgage notes payable — real estate owned 184,618 74,897
Derivative financial instruments, Principal/Notional Amount $ 89,084 354,300
Minimum    
Financial liabilities:    
Period of loans held for sale sold 60 days  
Maximum    
Financial liabilities:    
Period of loans held for sale sold 180 days  
Carrying Value    
Financial assets:    
Loans and investments, net $ 11,333,023 11,033,997
Loans held-for-sale, net 361,447 435,759
Capitalized mortgage servicing rights, net 348,326 368,678
Securities held-to-maturity, net 156,920 157,154
Derivative financial instruments 2,033 95
Financial liabilities:    
Credit and repurchase facilities 4,721,622 3,559,490
Securitized debt 3,510,865 4,622,489
Senior unsecured notes 1,238,174 1,236,147
Convertible senior unsecured notes 287,258 285,853
Junior subordinated notes 145,085 144,686
Mortgage notes payable — real estate owned 184,618 74,897
Derivative financial instruments 394 4,209
Estimated Fair Value    
Financial assets:    
Loans and investments, net 11,381,419 11,122,205
Loans held-for-sale, net 369,542 449,339
Capitalized mortgage servicing rights, net 484,774 511,282
Securities held-to-maturity, net 152,805 144,508
Derivative financial instruments 2,033 95
Financial liabilities:    
Credit and repurchase facilities 4,711,663 3,592,120
Securitized debt 3,520,999 4,616,409
Senior unsecured notes 1,177,250 1,160,154
Convertible senior unsecured notes 286,925 287,500
Junior subordinated notes 110,541 109,099
Mortgage notes payable — real estate owned 183,686 74,495
Derivative financial instruments 394 4,209
Securitized debt    
Financial liabilities:    
Debt face value issued to third parties 3,523,470 4,632,015
Senior unsecured notes    
Financial liabilities:    
Debt face value issued to third parties 1,245,000 1,245,000
Convertible senior unsecured notes    
Financial liabilities:    
Debt face value issued to third parties 287,500 287,500
Junior subordinated notes    
Financial liabilities:    
Debt face value issued to third parties 154,336 154,336
Junior subordinated notes $ 145,100 $ 144,700