v3.26.1
Residential Mortgage Loans
3 Months Ended
Mar. 31, 2026
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]  
Residential Mortgage Loans Residential Mortgage Loans
Residential mortgage loans are measured at fair value. The following table sets forth the cost, unpaid principal balance, net premium on mortgage loans purchased, fair value, weighted average interest rate, and weighted average remaining contractual maturity of the Company’s residential mortgage loan portfolio as of March 31, 2026 and December 31, 2025:

March 31, 2026December 31, 2025
($ in thousands)
Cost$246,469 $291,089 
Unpaid principal balance$238,772 $282,348 
Net premium on mortgage loans purchased7,697 8,742 
Change in fair value(935)3,044 
Fair value$245,534 $294,134 
Weighted average interest rate7.62 %7.38 %
Weighted average remaining contractual maturity (years)28.929.5

The following table sets forth data regarding the number of consumer mortgage loans secured by residential real property which are 90 or more days past due and those in formal foreclosure proceedings, and the recorded investment and unpaid principal balance of such loans as of March 31, 2026 and December 31, 2025:

As of:March 31, 2026December 31, 2025
($ in thousands)
Number of mortgage loans 90 or more days past due— — 
Recorded investment in mortgage loans 90 or more days past due$— $— 
Unpaid principal balance of loans 90 or more days past due$— $— 
Number of mortgage loans in foreclosure
Recorded investment in mortgage loans in foreclosure$2,705 $1,166 
Unpaid principal balance of loans in foreclosure$2,619 $1,113