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RESIDENTIAL TRANSITION LOANS - Summary of Residential Transition Loans (Details) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2025 USD ($) loan | Dec. 31, 2024 USD ($) loan
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Carrying Value | $ 451,841 | $ 425,366
Residential Transitional Lending |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Carrying Value | $ 3,273,750 | $ 3,140,267
% of Portfolio | 100.00% | 100.00%
Loan Count | loan | 1,484 | 1,535
% of Portfolio | 100.00% | 100.00%
Weighted Average Yield | 10.60% | 10.70%
Weighted Average Original Life (Months) | 20 years 4 months 24 days | 20 years 4 months 24 days
Residential Transitional Lending | Consolidated Entity, Excluding Consolidated VIE |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Carrying Value | $ 2,335,218 | $ 2,178,075
Residential Transitional Lending | Variable Interest Entity, Primary Beneficiary |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Carrying Value | 938,532 | 962,192
Residential Transitional Lending | Construction |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Carrying Value | $ 1,421,552 | $ 1,427,213
% of Portfolio | 43.40% | 45.40%
Loan Count | loan | 477 | 490
% of Portfolio | 32.10% | 31.90%
Weighted Average Yield | 11.40% | 11.40%
Weighted Average Original Life (Months) | 19 years 9 months 18 days | 20 years
Weighted Average Committed Loan Balance to Value, LTC | 72.00% | 72.70%
Weighted Average Committed Loan Balance to Value, LTARV | 62.00% | 62.20%
Residential Transitional Lending | Construction | Consolidated Entity, Excluding Consolidated VIE |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Carrying Value | $ 1,003,657 | $ 935,142
Residential Transitional Lending | Construction | Variable Interest Entity, Primary Beneficiary |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Carrying Value | 417,895 | 492,071
Residential Transitional Lending | Bridge |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Carrying Value | $ 1,446,029 | $ 1,336,389
% of Portfolio | 44.20% | 42.60%
Loan Count | loan | 570 | 600
% of Portfolio | 38.50% | 39.10%
Weighted Average Yield | 10.00% | 10.00%
Weighted Average Original Life (Months) | 23 years 7 months 6 days | 23 years 10 months 24 days
Weighted Average Committed Loan Balance to Value | 66.60% | 66.60%
Residential Transitional Lending | Bridge | Consolidated Entity, Excluding Consolidated VIE |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Carrying Value | $ 1,063,102 | $ 972,443
Residential Transitional Lending | Bridge | Variable Interest Entity, Primary Beneficiary |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Carrying Value | 382,927 | 363,946
Residential Transitional Lending | Renovation |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Carrying Value | $ 406,169 | $ 376,665
% of Portfolio | 12.40% | 12.00%
Loan Count | loan | 437 | 445
% of Portfolio | 29.40% | 29.00%
Weighted Average Yield | 10.30% | 10.50%
Weighted Average Original Life (Months) | 14 years 9 months 18 days | 12 years 9 months 18 days
Weighted Average Committed Loan Balance to Value, LTC | 83.40% | 82.80%
Weighted Average Committed Loan Balance to Value, LTARV | 68.40% | 68.20%
Residential Transitional Lending | Renovation | Consolidated Entity, Excluding Consolidated VIE |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Carrying Value | $ 268,459 | $ 270,490
Residential Transitional Lending | Renovation | Variable Interest Entity, Primary Beneficiary |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Carrying Value | $ 137,710 | $ 106,175

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