v3.26.1
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Other assets $ 58,449 $ 58,900
Preferred stock aggregate liquidation preference $ 227,991 $ 227,991
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 450,000,000 450,000,000
Common stock, shares issued (in shares) 31,803,000 31,744,000
Common stock, shares outstanding (in shares) 31,803,000 31,744,000
Residential Portfolio Segment    
Commercial loans, at fair value $ 7,381,460 $ 8,199,296
Asset Pledged as Collateral    
Mortgage loans 1,314,349  
Other assets 0 319
Securitized Residential Mortgage Loans | Residential Portfolio Segment    
Mortgage loans 7,119,175 7,999,619
Other assets 47,752 51,356
Residential mortgage loans | Residential Portfolio Segment    
Commercial loans, at fair value 262,285 199,677
Residential mortgage loans | Securitized Residential Mortgage Loans    
Mortgage loans [1] 7,119,175 7,999,619
Residential mortgage loans | Securitized Residential Mortgage Loans | Residential Portfolio Segment    
Commercial loans, at fair value 7,119,175 7,999,619
Residential mortgage loans | Securitized Residential Mortgage Loans | Asset Pledged as Collateral | Residential Portfolio Segment    
Mortgage loans 726,279 766,901
Residential mortgage loans | VIE, Not Primary Beneficiary    
Mortgage loans 262,285 199,677
Residential mortgage loans | VIE, Not Primary Beneficiary | Asset Pledged as Collateral | Residential Portfolio Segment    
Mortgage loans 261,475 198,596
Legacy WMC Commercial Loans    
Commercial loans, at fair value 49,254 55,376
Legacy WMC Commercial Loans | Commercial Portfolio Segment    
Commercial loans, at fair value 49,254 55,376
Legacy WMC Commercial Loans | Asset Pledged as Collateral | Commercial Portfolio Segment    
Commercial loans, at fair value 49,254 55,376
Real Estate Securities    
Real estate securities, at fair value, pledged as collateral $ 277,341 $ 231,894
[1] These balances relate to certain residential mortgage loans which were securitized resulting in the Company consolidating the variable interest entities that were created to facilitate these securitizations as the Company was determined to be the primary beneficiary. The "Securitized debt, at fair value" is collateralized by the "Securitized residential mortgage loans, at fair value" held within the securitization trusts. See Note 3 and Note 6 for additional details.