v3.26.1
Secured Financing Agreements - Schedule of Collateralized Borrowings (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Line of Credit Facility [Line Items]    
Repurchase facilities $ 347,491 $ 439,173
Amount Outstanding 71,774 71,774
Unused Capacity 577,509 522,643
Total Capacity 925,000 961,816
Carrying Value of Collateral, Assets 566,629 669,035
Real estate owned, net 93,239 92,039
Mortgage loan payable    
Line of Credit Facility [Line Items]    
Amount Outstanding 18,000 18,000
Unused Capacity 0 0
Total Capacity 18,000 18,000
Carrying Value of Collateral, Liability $ 36,278 $ 35,060
Weighted Average Borrowing Rate 6.70% 6.80%
Unamortized debt issuance costs $ 17,600 $ 17,500
Secured Debt    
Line of Credit Facility [Line Items]    
Amount Outstanding 71,774 71,774
Unused Capacity 28,226 28,226
Total Capacity 100,000 100,000
Carrying Value of Collateral, Liability $ 99,819 $ 98,772
Weighted Average Borrowing Rate 9.40% 9.50%
Loans Receivable | Morgan Stanley Bank    
Line of Credit Facility [Line Items]    
Repurchase facilities $ 52,325 $ 52,444
Unused Capacity 197,675 197,556
Total Capacity 250,000 250,000
Carrying Value of Collateral, Assets $ 117,125 $ 119,715
Weighted Average Borrowing Rate Assets 6.40% 6.50%
Loans Receivable | Morgan Stanley Bank | Assets Sold Under Agreements To Repurchase, Repurchase Liability | Asset Pledged as Collateral    
Line of Credit Facility [Line Items]    
Real estate owned, net $ 61,900 $ 62,900
Loans Receivable | JPMorgan Chase Bank    
Line of Credit Facility [Line Items]    
Repurchase facilities 222,679 314,242
Unused Capacity 202,321 147,574
Total Capacity 425,000 461,816
Carrying Value of Collateral, Assets $ 346,383 $ 446,849
Weighted Average Borrowing Rate Assets 6.30% 7.20%
Loans Receivable | Citibank    
Line of Credit Facility [Line Items]    
Repurchase facilities $ 72,487 $ 72,487
Unused Capacity 177,513 177,513
Total Capacity 250,000 250,000
Carrying Value of Collateral, Assets $ 103,121 $ 102,471
Weighted Average Borrowing Rate Assets 5.40% 5.40%