v3.26.1
USE OF SPECIAL PURPOSE ENTITIES AND VARIABLE INTEREST ENTITIES - Condensed Consolidated Statement of Operations (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Variable Interest Entity [Line Items]        
Net interest income $ 4,502,730 $ 6,960,779 $ 10,199,408 $ 14,695,313
Loss on extinguishment of debt 0 0 (1,152,861) 0
General and administrative fees (1,409,608) (1,006,961) (2,476,345) (1,931,021)
LMNT 2025-FL3 CLO and LMF 2023-1 Financing        
Variable Interest Entity [Line Items]        
Interest income 10,865,883   23,960,659  
Interest expense (8,582,040)   (18,957,805)  
Net interest income 2,283,843   5,002,854  
Provision for credit losses (3,174,725)   (2,709,051)  
Depreciation from real estate owned operations 0   0  
Loss on extinguishment of debt     (1,152,861)  
General and administrative fees (74,256)   (186,813)  
Net (loss) income $ (965,138)   $ 954,129  
2021-FL1 CLO and LMF 2023-1        
Variable Interest Entity [Line Items]        
Interest income   18,876,129   39,361,327
Interest expense   (12,646,774)   (26,283,248)
Net interest income   6,229,355   13,078,079
Provision for credit losses   (99,005)   (5,838,979)
Depreciation from real estate owned operations   (138,777)   (138,777)
Loss on extinguishment of debt       0
General and administrative fees   (227,497)   (411,061)
Net (loss) income   $ 5,764,076   $ 6,689,262