v3.26.1
Variable Interest Entities and Securitizations - Schedule of the Assets and Liabilities of the Company's Consolidated Variable Interest Entities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Assets      
Restricted cash $ 268,950 $ 235,143 $ 199,836
Loans held for investment, subject to nonrecourse debt, at fair value 10,769,209 10,026,177  
Loans held for investment, at fair value 454,245 870,081  
Other assets, net (includes $64,197 and $11,838 at fair value) 236,496 197,376  
Other assets, net at fair value 119,654 76,146  
TOTAL ASSETS 31,328,139 30,733,298  
Liabilities      
Nonrecourse debt, at fair value 10,450,834 9,736,493  
Other financing lines of credit 899,338 1,187,699  
TOTAL LIABILITIES 30,890,025 30,337,671  
Variable Interest Entity, Primary Beneficiary      
Assets      
Restricted cash 258,964 227,489  
Loans held for investment, subject to nonrecourse debt, at fair value 10,769,209 9,630,812  
Loans held for investment, at fair value 113,084 432,724  
Other assets, net (includes $64,197 and $11,838 at fair value) 130,181 80,738  
Other assets, net at fair value 64,197 11,838  
TOTAL ASSETS 11,271,438 10,371,763  
Liabilities      
Nonrecourse debt, at fair value 10,450,834 9,359,493  
Other financing lines of credit 122,710 313,699  
Payables and other liabilities 1,811 3,784  
TOTAL LIABILITIES 10,575,355 9,676,976  
Variable Interest Entity, Primary Beneficiary | Asset and Liabilities of Consolidated VIE      
Assets      
Restricted cash 258,964 227,489  
Loans held for investment, subject to nonrecourse debt, at fair value 10,769,209 9,630,812  
Loans held for investment, at fair value 113,084 432,724  
Other assets, net (includes $64,197 and $11,838 at fair value) 130,181 80,738  
Other assets, net at fair value 64,197 11,838  
TOTAL ASSETS 11,271,438 10,371,763  
Liabilities      
Nonrecourse debt, at fair value 10,997,895 9,806,836  
Other financing lines of credit 122,710 313,699  
Payables and other liabilities 1,811 3,784  
TOTAL LIABILITIES 11,122,416 10,124,319  
Retained bonds and beneficial interests eliminated in consolidation (547,061) (447,343)  
Total consolidated liabilities $ 10,575,355 $ 9,676,976