v3.25.2
Residential Whole Loans - Additional Credit Related Information (Details) - Residential whole loans - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Dec. 31, 2024
Financing Receivable, Credit Quality Indicator [Line Items]            
Gross write-offs $ 1,036 $ 616 $ 5,262 $ 379    
Non-QM loans            
Financing Receivable, Credit Quality Indicator [Line Items]            
Total 4,845,752       $ 4,845,752 $ 4,291,086
Gross write-offs 0 0 0 0    
Business purpose loans            
Financing Receivable, Credit Quality Indicator [Line Items]            
Total 2,898,559       2,898,559 3,396,181
Legacy RPL/NPL loans            
Financing Receivable, Credit Quality Indicator [Line Items]            
Total 1,033,705       1,033,705 1,082,549
Gross write-offs 14 $ 180 $ 170 $ 22    
Carrying Value            
Financing Receivable, Credit Quality Indicator [Line Items]            
2025 - 2022 0       0  
2021 42,836       42,836  
Prior 1,158,003       1,158,003  
Total 1,200,839       1,200,839  
Gross write-offs, 2025 - 2022         0  
Gross write-offs, 2021         0  
Gross write-offs, prior         1,652  
Gross write-offs         1,652  
Carrying Value | Debt-to-Value Ratio, Less Than 80 Percent            
Financing Receivable, Credit Quality Indicator [Line Items]            
2025 - 2022 0       0  
2021 40,832       40,832  
Prior 1,096,431       1,096,431  
Total 1,137,263       1,137,263  
Carrying Value | Debt-to-Value Ratio, Greater Than 80 Percent            
Financing Receivable, Credit Quality Indicator [Line Items]            
2025 - 2022 0       0  
2021 2,004       2,004  
Prior 61,572       61,572  
Total 63,576       63,576  
Carrying Value | Non-QM loans            
Financing Receivable, Credit Quality Indicator [Line Items]            
2025 - 2022 0       0  
2021 36,906       36,906  
Prior 620,854       620,854  
Total 657,760       657,760 722,392
Gross write-offs, 2025 - 2022         0  
Gross write-offs, 2021         0  
Gross write-offs, prior         0  
Gross write-offs         0  
Carrying Value | Non-QM loans | Debt-to-Value Ratio, Less Than 80 Percent            
Financing Receivable, Credit Quality Indicator [Line Items]            
2025 - 2022 0       0  
2021 35,000       35,000  
Prior 612,654       612,654  
Total 647,654       647,654  
Carrying Value | Non-QM loans | Debt-to-Value Ratio, Greater Than 80 Percent            
Financing Receivable, Credit Quality Indicator [Line Items]            
2025 - 2022 0       0  
2021 1,906       1,906  
Prior 8,200       8,200  
Total 10,106       10,106  
Carrying Value | Business purpose loans            
Financing Receivable, Credit Quality Indicator [Line Items]            
2025 - 2022 0       0  
2021 5,930       5,930  
Prior 100,879       100,879  
Total 106,809       106,809 130,633
Gross write-offs, 2025 - 2022         0  
Gross write-offs, 2021         0  
Gross write-offs, prior         1,458  
Gross write-offs         1,458  
Carrying Value | Business purpose loans | Debt-to-Value Ratio, Less Than 80 Percent            
Financing Receivable, Credit Quality Indicator [Line Items]            
2025 - 2022 0       0  
2021 5,832       5,832  
Prior 96,098       96,098  
Total 101,930       101,930  
Carrying Value | Business purpose loans | Debt-to-Value Ratio, Greater Than 80 Percent            
Financing Receivable, Credit Quality Indicator [Line Items]            
2025 - 2022 0       0  
2021 98       98  
Prior 4,781       4,781  
Total 4,879       4,879  
Carrying Value | Legacy RPL/NPL loans            
Financing Receivable, Credit Quality Indicator [Line Items]            
2025 - 2022 0       0  
2021 0       0  
Prior 436,270       436,270  
Total 436,270       436,270 $ 457,654
Gross write-offs, 2025 - 2022         0  
Gross write-offs, 2021         0  
Gross write-offs, prior         194  
Gross write-offs         194  
Carrying Value | Legacy RPL/NPL loans | Debt-to-Value Ratio, Less Than 80 Percent            
Financing Receivable, Credit Quality Indicator [Line Items]            
2025 - 2022 0       0  
2021 0       0  
Prior 387,679       387,679  
Total 387,679       387,679  
Carrying Value | Legacy RPL/NPL loans | Debt-to-Value Ratio, Greater Than 80 Percent            
Financing Receivable, Credit Quality Indicator [Line Items]            
2025 - 2022 0       0  
2021 0       0  
Prior 48,591       48,591  
Total $ 48,591       $ 48,591