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Loans and Investments - Investment Portfolio and Concentration of Credit Risk (Details)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2020
USD ($)
loan
borrower
Dec. 31, 2019
USD ($)
loan
borrower
Mar. 31, 2020
USD ($)
Jun. 30, 2019
USD ($)
Loans and Investments        
Loans and investments, gross $ 4,972,138 $ 4,279,611    
Unearned revenue (19,151) (18,582)    
Loans and investments, net 4,800,176 4,189,960    
Allowance for credit losses $ (152,811) $ (71,069) $ (142,252) $ (71,069)
Percent of Total 100.00% 100.00%    
Loan Count | loan 294 272    
Wtd. Avg. Pay Rate (as a percent) 5.57% 5.98%    
Wtd. Avg. Remaining Months to Maturity 20 months 6 days 22 months 3 days    
Wtd. Avg. First Dollar LTV Ratio (as percent) 4.00% 4.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 78.00% 76.00%    
Credit risk concentration        
Loans and Investments        
Amortized cost basis $ 4,972,138      
Allowance for credit losses - CECL $ 4,972,138      
Wtd. Avg. First Dollar LTV Ratio (as percent) 4.00%      
Wtd. Avg. Last Dollar LTV Ratio (as percent) 78.00%      
Credit risk concentration | Single-Family Rental        
Loans and Investments        
Amortized cost basis $ 101,963      
Allowance for credit losses - CECL $ 101,963      
Percent of Total 2.00%      
Wtd. Avg. First Dollar LTV Ratio (as percent) 0.00%      
Wtd. Avg. Last Dollar LTV Ratio (as percent) 75.00%      
Total assets | Credit risk concentration        
Loans and Investments        
Loan Count | loan 23 24    
Number of different borrowers | borrower 5 5    
Concentration risk, percentage 13.00% 13.00%    
Bridge loans        
Loans and Investments        
Loans and investments, gross $ 4,504,232 $ 3,836,832    
Percent of Total 91.00% 90.00%    
Loan Count | loan 234 217    
Wtd. Avg. Pay Rate (as a percent) 5.37% 5.77%    
Wtd. Avg. Remaining Months to Maturity 16 months 18 days 18 months    
Wtd. Avg. First Dollar LTV Ratio (as percent) 1.00% 0.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 77.00% 75.00%    
Bridge loans | Single-Family Rental        
Loans and Investments        
Number of loans under the loan portfolio | loan 5 11    
Total loan commitment $ 53,400 $ 66,700    
Preferred equity investments        
Loans and Investments        
Loans and investments, gross $ 216,934 $ 181,058    
Percent of Total 4.00% 4.00%    
Loan Count | loan 12 10    
Wtd. Avg. Pay Rate (as a percent) 8.33% 7.62%    
Wtd. Avg. Remaining Months to Maturity 53 months 9 days 68 months 24 days    
Wtd. Avg. First Dollar LTV Ratio (as percent) 67.00% 69.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 89.00% 89.00%    
Mezzanine loans        
Loans and Investments        
Loans and investments, gross $ 170,917 $ 191,575    
Percent of Total 3.00% 4.00%    
Loan Count | loan 28 24    
Wtd. Avg. Pay Rate (as a percent) 7.78% 9.70%    
Wtd. Avg. Remaining Months to Maturity 46 months 27 days 36 months 21 days    
Wtd. Avg. First Dollar LTV Ratio (as percent) 28.00% 22.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 78.00% 73.00%    
Other        
Loans and Investments        
Loans and investments, gross $ 80,055 $ 70,146    
Percent of Total 2.00% 2.00%    
Loan Count | loan 20 21    
Wtd. Avg. Pay Rate (as a percent) 5.10% 2.88%    
Wtd. Avg. Remaining Months to Maturity 73 months 24 days 84 months 24 days    
Wtd. Avg. First Dollar LTV Ratio (as percent) 0.00% 0.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 69.00% 70.00%    
Other | Single-Family Rental        
Loans and Investments        
Number of loans under the loan portfolio | loan 19 12    
Total loan commitment $ 73,700 $ 41,600    
Unpaid principal balance, funded $ 28,300 $ 30,000    
Other | Purchased Loans [Member]        
Loans and Investments        
Number of loans under the loan portfolio | loan 1 9    
Total loan commitment $ 6,400 $ 28,600