v3.26.1
COMMERCIAL MORTGAGE LOANS HELD-FOR-INVESTMENT - Provision for Credit Losses (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Allowance for credit losses at beginning of period [1]     $ 22,658,121  
Allowance for credit losses at end of period [1] $ 21,248,582   21,248,582  
Commercial Loans Held-For-Investment        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Allowance for credit losses at beginning of period 19,543,903 $ 17,060,194 22,658,121 $ 11,320,220
Provision for credit losses 8,625,695 102,459 7,893,322 5,842,433
Charge-offs (6,921,016) (2,910,385) (9,302,861) (2,910,385)
Allowance for credit losses at end of period 21,248,582 14,252,268 21,248,582 14,252,268
Commercial Loans Held-For-Investment | Unfunded Loan Commitment        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Allowance for credit losses at beginning of period 0 15,241 0 57,554
Provision for credit losses 0 (7,691) 0 (50,004)
Allowance for credit losses at end of period $ 0 $ 7,550 $ 0 $ 7,550
[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company was the primary beneficiary of these VIEs. As of June 30, 2026 and December 31, 2025, assets of consolidated VIEs totaled $662,520,376 and $889,507,091, respectively, and the liabilities of consolidated VIEs totaled $581,587,437 and $750,274,556, respectively. See Note 4 for further discussion.