v3.26.1
Segment Reporting - Schedule Of Segment Reporting (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Segment Reporting Information [Line Items]      
Interest income $ 81,730 $ 154,967  
Interest expense (96,834) (140,466)  
Net interest income before (provision for) recovery of loan losses (15,104) 14,501  
Provision for loan losses (70,907) 109,568  
Net interest income after (provision for) recovery of loan losses (86,011) 124,069  
Non-interest income      
Net realized gain (loss) on financial instruments and real estate owned (60,085) 10,669  
Net unrealized gain (loss) on financial instruments (6,920) (1,750)  
Valuation allowance, loans held for sale (6,557) (99,718)  
Servicing income, net 5,421 6,456  
Income (loss) on unconsolidated joint ventures 2,059 (3,982)  
Other income 18,065 11,590  
Total non-interest income (expense) (48,017) 25,736  
Non-interest expense      
Gain on bargain purchase 0 102,471  
Professional fees (6,655) (5,488)  
Loan servicing expense (15,674) (15,844)  
Transaction related expenses (335) (2,694)  
Impairment on real estate 469 (2,346)  
Other operating expenses (29,014) (16,123)  
Total non-interest expense (82,733) (72,602)  
Income (loss) from continuing operations before benefit for income taxes (216,761) 77,203  
Total Assets 6,314,288   $ 7,769,796
Nonrelated Party      
Non-interest expense      
Employee compensation and benefits (23,848) (21,254)  
Related Party      
Non-interest expense      
Employee compensation and benefits (3,600) (3,276)  
Management fees – related party (4,076) (5,577)  
Operating Segments      
Segment Reporting Information [Line Items]      
Interest income 81,730 154,967  
Interest expense (96,834) (140,466)  
Net interest income before (provision for) recovery of loan losses (15,104) 14,501  
Provision for loan losses (70,907) 109,568  
Net interest income after (provision for) recovery of loan losses (86,011) 124,069  
Non-interest income      
Net realized gain (loss) on financial instruments and real estate owned (60,085) 10,669  
Net unrealized gain (loss) on financial instruments (6,920) (1,750)  
Valuation allowance, loans held for sale (6,557) (99,718)  
Servicing income, net 5,421 6,456  
Income (loss) on unconsolidated joint ventures 2,059 (3,982)  
Other income 17,131 10,299  
Total non-interest income (expense) (48,951) (78,026)  
Non-interest expense      
Professional fees (4,952) (3,723)  
Loan servicing expense (15,674) (15,844)  
Impairment on real estate 469 (2,346)  
Other operating expenses (26,662) (14,407)  
Total non-interest expense (70,151) (57,823)  
Income (loss) from continuing operations before benefit for income taxes (205,113) (11,780)  
Total Assets 5,815,464 9,407,905  
Operating Segments | Nonrelated Party      
Non-interest expense      
Employee compensation and benefits (22,972) (21,175)  
Operating Segments | Related Party      
Non-interest expense      
Employee compensation and benefits (360) (328)  
Operating Segments | LMM Commercial Real Estate      
Segment Reporting Information [Line Items]      
Interest income 58,893 124,973  
Interest expense (80,672) (120,354)  
Net interest income before (provision for) recovery of loan losses (21,779) 4,619  
Provision for loan losses (66,523) 117,941  
Net interest income after (provision for) recovery of loan losses (88,302) 122,560  
Non-interest income      
Net realized gain (loss) on financial instruments and real estate owned (68,242) (14,600)  
Net unrealized gain (loss) on financial instruments (8,796) (604)  
Valuation allowance, loans held for sale (6,557) (99,718)  
Servicing income, net 1,597 1,415  
Income (loss) on unconsolidated joint ventures 2,054 (4,005)  
Other income 11,940 3,037  
Total non-interest income (expense) (68,004) (114,475)  
Non-interest expense      
Professional fees (1,476) (818)  
Loan servicing expense (14,573) (15,064)  
Impairment on real estate 469 (2,346)  
Other operating expenses (17,350) (3,336)  
Total non-interest expense (40,939) (27,763)  
Income (loss) from continuing operations before benefit for income taxes (197,245) (19,678)  
Total Assets 4,522,372 7,897,270  
Operating Segments | LMM Commercial Real Estate | Nonrelated Party      
Non-interest expense      
Employee compensation and benefits (7,649) (5,871)  
Operating Segments | LMM Commercial Real Estate | Related Party      
Non-interest expense      
Employee compensation and benefits (360) (328)  
Operating Segments | Small Business Lending      
Segment Reporting Information [Line Items]      
Interest income 22,837 29,994  
Interest expense (16,162) (20,112)  
Net interest income before (provision for) recovery of loan losses 6,675 9,882  
Provision for loan losses (4,384) (8,373)  
Net interest income after (provision for) recovery of loan losses 2,291 1,509  
Non-interest income      
Net realized gain (loss) on financial instruments and real estate owned 8,157 25,269  
Net unrealized gain (loss) on financial instruments 1,876 (1,146)  
Valuation allowance, loans held for sale 0 0  
Servicing income, net 3,824 5,041  
Income (loss) on unconsolidated joint ventures 5 23  
Other income 5,191 7,262  
Total non-interest income (expense) 19,053 36,449  
Non-interest expense      
Professional fees (3,476) (2,905)  
Loan servicing expense (1,101) (780)  
Impairment on real estate 0 0  
Other operating expenses (9,312) (11,071)  
Total non-interest expense (29,212) (30,060)  
Income (loss) from continuing operations before benefit for income taxes (7,868) 7,898  
Total Assets 1,293,092 1,510,635  
Operating Segments | Small Business Lending | Nonrelated Party      
Non-interest expense      
Employee compensation and benefits (15,323) (15,304)  
Operating Segments | Small Business Lending | Related Party      
Non-interest expense      
Employee compensation and benefits 0 0  
Corporate, Non-Segment      
Non-interest expense      
Gain on bargain purchase   102,471  
Professional fees (1,703) (1,765)  
Transaction related expenses (335) (2,694)  
Other operating expenses (1,418) (425)  
Income (loss) from continuing operations before benefit for income taxes (11,648) 88,983  
Corporate, Non-Segment | Nonrelated Party      
Non-interest expense      
Employee compensation and benefits (4,116) (3,027)  
Corporate, Non-Segment | Related Party      
Non-interest expense      
Management fees – related party $ (4,076) $ (5,577)