COMMITMENTS AND CONTINGENCIES	9 Months Ended
Sep. 30, 2026
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation — The Company is or may become, from time to time, involved in various disputes, litigation and regulatory inquiry and investigation matters that arise in the ordinary course of business. Given the inherent unpredictability of these types of proceedings, it is possible that future adverse outcomes could have a material adverse effect on its business, financial position or results of operations. The Company is not aware of any unasserted claims that it believes are material and probable of assertion where the risk of loss is expected to be reasonably possible. The Company is, from time to time, subject to inquiries by government entities. The Company currently does not believe any of these inquiries would result in a material adverse effect on the Company’s business. Indemnifications — In the normal course of business, the Company and its subsidiaries enter into contracts that contain a variety of representations and warranties and that provide general indemnifications. The Company’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Company that have not yet occurred. However, based on its experience, the Company expects the risk of material loss to be remote. Capital Commitments — As of September 30, 2026, the Company had outstanding capital commitments related to investments in the following investment types: •Residential Transition Loans — As of September 30, 2026, the Company had commitments to fund additional advances on existing loans up to $219.1 million. These commitments are generally subject to loan agreements with covenants regarding the financial performance of the borrower and other terms regarding advances that must be met before the Company funds the commitments.

COMMITMENTS AND CONTINGENCIES

9 Months Ended

Sep. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Litigation — The Company is or may become, from time to time, involved in various disputes, litigation and regulatory inquiry and investigation matters that arise in the ordinary course of business. Given the inherent unpredictability of these types of proceedings, it is possible that future adverse outcomes could have a material adverse effect on its business, financial position or results of operations. The Company is not aware of any unasserted claims that it believes are material and probable of assertion where the risk of loss is expected to be reasonably possible.

The Company is, from time to time, subject to inquiries by government entities. The Company currently does not believe any of these inquiries would result in a material adverse effect on the Company’s business.

Indemnifications — In the normal course of business, the Company and its subsidiaries enter into contracts that contain a variety of representations and warranties and that provide general indemnifications. The Company’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Company that have not yet occurred. However, based on its experience, the Company expects the risk of material loss to be remote.

Capital Commitments — As of September 30, 2026, the Company had outstanding capital commitments related to investments in the following investment types:

•Residential Transition Loans — As of September 30, 2026, the Company had commitments to fund additional advances on existing loans up to $219.1 million. These commitments are generally subject to loan agreements with covenants regarding the financial performance of the borrower and other terms regarding advances that must be met before the Company funds the commitments.