v3.26.1
Segment Information - Schedule of Origination Data (Details)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
USD ($)
loan
Jun. 30, 2025
USD ($)
loan
Jun. 30, 2026
USD ($)
loan
Jun. 30, 2025
USD ($)
loan
Structured Business        
Segment Information        
Total New Loan Originations $ 688,977 $ 716,544 $ 1,456,569 $ 1,463,665
Total Commitments 48,785 405,384 214,855 659,784
Loan Runoff 539,745 519,709 1,400,778 941,650
Structured Business | Bridge loan        
Segment Information        
Total New Loan Originations 650,167 634,286 1,376,889 1,358,330
Structured Business | Mezzanine loans        
Segment Information        
Total New Loan Originations 0 6,999 0 11,439
Structured Business | Multifamily | Bridge loan        
Segment Information        
Total New Loan Originations $ 159,550 $ 103,300 $ 565,150 $ 471,050
Structured Business | SFR - Fixed Rate        
Segment Information        
Number of Loans Originated | loan 14 19 20 39
Total Commitments $ 48,785 $ 232,384 $ 101,785 $ 394,784
Structured Business | SFR - Fixed Rate | Bridge loan        
Segment Information        
Total New Loan Originations 490,617 530,986 811,739 887,280
Structured Business | Construction - multifamily        
Segment Information        
Total New Loan Originations 38,810 75,259 79,680 93,896
Total Commitments 0 173,000 113,070 265,000
Agency Business        
Segment Information        
Origination Volumes 1,076,763 857,097 1,784,340 1,463,005
Total Loan Commitment Volume 1,211,900 852,766 1,945,760 1,498,167
Agency Business Loan Sales Data:        
Loan Sales $ 1,143,438 $ 807,020 $ 1,814,410 $ 1,537,874
Sales margin (fee-based services as a % of loan sales) 1.33% 1.69% 1.53% 1.72%
MSR rate (MSR income as a % of loan commitments) 1.00% 1.28% 1.12% 1.27%
Agency Business | SFR - Fixed Rate        
Segment Information        
Origination Volumes $ 21,272 $ 23,552 $ 21,272 $ 32,663
Agency Business Loan Sales Data:        
Loan Sales 21,272 16,885 21,272 25,996
Agency Business | Fannie Mae        
Segment Information        
Origination Volumes 619,130 683,206 1,189,945 1,041,017
Agency Business Loan Sales Data:        
Loan Sales 740,728 657,305 1,312,307 1,013,021
Agency Business | Freddie Mac        
Segment Information        
Origination Volumes 428,278 150,339 519,533 328,359
Agency Business Loan Sales Data:        
Loan Sales 335,931 114,464 412,934 412,949
Agency Business | FHA        
Segment Information        
Origination Volumes 8,083 0 53,590 16,041
Agency Business Loan Sales Data:        
Loan Sales 45,507 18,366 67,897 85,908
Agency Business | Private Label        
Segment Information        
Origination Volumes $ 0 $ 0 $ 0 $ 44,925