v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Interest income:    
Loans held-for-investment $ 25,621 $ 34,327
Cash and cash equivalents 422 817
Total interest income 26,043 35,144
Interest expense:    
Repurchase facilities 6,797 11,885
Securitized debt obligations 9,112 12,680
Secured credit facility 1,789 2,539
Mortgage loan payable 327 0
Total interest expense 18,025 27,104
Net interest income 8,018 8,040
Other income (loss):    
Revenue from real estate owned operations 3,220 3,094
Benefit from (provision for) credit losses 216 (3,770)
Realized loss on loan sales (18) 0
Total other income (loss) 3,418 (676)
Expenses:    
Compensation and benefits 4,445 5,771
Servicing expenses 743 1,031
Expenses from real estate owned operations 5,760 4,504
Other operating expenses 2,915 3,003
Total expenses 13,863 14,309
Income (loss) before income taxes (2,427) (6,945)
Provision for (benefit from) income taxes (1) 70
Net income (loss) (2,426) (7,015)
Dividends on preferred stock 3,601 3,600
Net (loss) income attributable to common stockholders - basic (6,027) (10,615)
Net (loss) income attributable to common stockholders - diluted $ (6,027) $ (10,615)
Basic (loss) earnings per weighted average common share (in usd per share) $ (0.13) $ (0.22)
Diluted (loss) earnings per weighted average common share (in usd per share) $ (0.13) $ (0.22)
Weighted average number of shares of common stock outstanding:    
Basic (in shares) 47,673,711 48,668,667
Diluted (in shares) 47,673,711 48,668,667
Net (loss) income attributable to common stockholders - basic $ (6,027) $ (10,615)
Net (loss) income attributable to common stockholders - diluted (6,027) (10,615)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent $ (6,027) $ (10,615)