v3.26.1
Segment Information - Schedule of Statements of Income (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
segment
Jun. 30, 2025
USD ($)
segment
Segment Information        
Number of business segments | segment     2  
Interest income $ 230,858 $ 240,303 $ 465,905 $ 480,997
Interest expense 177,761 171,578 352,963 336,829
Net interest income 53,097 68,725 112,942 144,168
Other revenue:        
Gain on sales, including fee-based services, net 15,176 13,658 27,681 26,439
Mortgage servicing rights 12,110 10,930 21,770 19,061
Servicing revenue 42,126 45,204 86,159 88,565
Amortization of MSRs (18,247) (17,767) (36,540) (35,525)
Property operating income 8,313 5,452 16,373 9,839
Gain on derivative instruments, net 1,041 219 548 3,619
Other income, net 2,260 3,989 4,336 8,407
Total other revenue 62,779 61,685 120,327 120,405
Other expenses:        
Employee compensation and benefits 40,192 36,923 84,016 78,346
Commissions 4,904 4,258 8,763 8,871
Selling and administrative 15,868 14,859 32,821 31,171
Property operating expenses 12,670 6,802 24,635 10,276
Depreciation and amortization 5,929 5,848 13,033 9,592
Impairment loss on real estate owned 13,650 0 26,150 0
Provision for loss sharing, net 13,472 4,215 18,009 6,002
Provision for loan losses, net 38,163 19,004 43,979 28,079
Total other expenses 144,848 91,909 251,406 172,337
(Loss) income before extinguishment of debt, gain (loss) on real estate, income from equity affiliates and income taxes (28,972) 38,501 (18,137) 92,236
Loss on extinguishment of debt 0 0 0 (2,319)
Gain (loss) on real estate 64 (1,448) (2,073) (4,258)
Income from equity affiliates 1,893 2,654 6,304 1,020
Provision for income taxes (3,150) (3,398) (5,235) (6,989)
Net (loss) income (30,165) 36,309 (19,141) 79,690
Preferred stock dividends 10,342 10,342 20,684 20,684
Net income (loss) attributable to noncontrolling interest (3,165) 2,015 (3,112) 4,617
Net (loss) income attributable to common stockholders (37,342) 23,952 (36,713) $ 54,389
Reporting segments | segment       2
Operating segments | Structured Business        
Segment Information        
Interest income 219,211 229,980 443,605 $ 460,067
Interest expense 172,066 165,858 342,881 327,437
Net interest income 47,145 64,122 100,724 132,630
Other revenue:        
Gain on sales, including fee-based services, net 0 0 0 0
Mortgage servicing rights 0 0 0 0
Servicing revenue 0 0 0 0
Amortization of MSRs 0 0 0 0
Property operating income 8,313 5,452 16,373 9,839
Gain on derivative instruments, net 0 0 0 0
Other income, net 1,638 2,105 3,865 4,183
Total other revenue 9,951 7,557 20,238 14,022
Other expenses:        
Employee compensation and benefits 18,667 16,018 37,529 34,175
Commissions 0 0 0 0
Selling and administrative 8,269 7,590 17,419 16,521
Property operating expenses 12,670 6,802 24,635 10,276
Depreciation and amortization 5,537 5,456 12,250 8,809
Impairment loss on real estate owned 13,650   26,150  
Provision for loss sharing, net 0 0 0 0
Provision for loan losses, net 38,245 16,112 41,889 25,266
Total other expenses 97,038 51,978 159,872 95,047
(Loss) income before extinguishment of debt, gain (loss) on real estate, income from equity affiliates and income taxes (39,942) 19,701 (38,910) 51,605
Loss on extinguishment of debt       (2,319)
Gain (loss) on real estate 64 (1,448) (2,073) (4,258)
Income from equity affiliates 1,893 2,654 6,304 1,020
Provision for income taxes (626) (1,277) (544) (639)
Net (loss) income (38,611) 19,630 (35,223) 45,409
Preferred stock dividends 10,342 10,342 20,684 20,684
Net income (loss) attributable to noncontrolling interest 0 0 0 0
Net (loss) income attributable to common stockholders (48,953) 9,288 (55,907) 24,725
Operating segments | Agency Business        
Segment Information        
Interest income 11,647 10,323 22,300 20,930
Interest expense 5,695 5,720 10,082 9,392
Net interest income 5,952 4,603 12,218 11,538
Other revenue:        
Gain on sales, including fee-based services, net 15,176 13,658 27,681 26,439
Mortgage servicing rights 12,110 10,930 21,770 19,061
Servicing revenue 42,126 45,204 86,159 88,565
Amortization of MSRs (18,247) (17,767) (36,540) (35,525)
Property operating income 0 0 0 0
Gain on derivative instruments, net 1,041 219 548 3,619
Other income, net 622 1,884 471 4,224
Total other revenue 52,828 54,128 100,089 106,383
Other expenses:        
Employee compensation and benefits 21,525 20,905 46,487 44,171
Commissions 4,904 4,258 8,763 8,871
Selling and administrative 7,599 7,269 15,402 14,650
Property operating expenses 0 0 0 0
Depreciation and amortization 392 392 783 783
Impairment loss on real estate owned 0   0  
Provision for loss sharing, net 13,472 4,215 18,009 6,002
Provision for loan losses, net (82) 2,892 2,090 2,813
Total other expenses 47,810 39,931 91,534 77,290
(Loss) income before extinguishment of debt, gain (loss) on real estate, income from equity affiliates and income taxes 10,970 18,800 20,773 40,631
Loss on extinguishment of debt       0
Gain (loss) on real estate 0 0 0 0
Income from equity affiliates 0 0 0 0
Provision for income taxes (2,524) (2,121) (4,691) (6,350)
Net (loss) income 8,446 16,679 16,082 34,281
Preferred stock dividends 0 0 0 0
Net income (loss) attributable to noncontrolling interest 0 0 0 0
Net (loss) income attributable to common stockholders 8,446 16,679 16,082 34,281
Other/Eliminations        
Other expenses:        
Net income (loss) attributable to noncontrolling interest (3,165) 2,015 (3,112) 4,617
Net (loss) income attributable to common stockholders $ 3,165 $ (2,015) $ 3,112 $ (4,617)