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Loans and Investments - Investment Portfolio and Concentration of Credit Risk (Details)
6 Months Ended 12 Months Ended
Jun. 30, 2021
USD ($)
loan
borrower
Dec. 31, 2020
USD ($)
borrower
loan
Mar. 31, 2021
USD ($)
Jun. 30, 2020
USD ($)
Mar. 31, 2020
USD ($)
Sep. 30, 2019
USD ($)
Loans and Investments            
Loans and investments, gross $ 7,385,929,000 $ 5,475,082,000        
Allowance for credit losses (138,447,000) (148,329,000) $ (147,300,000) $ (152,811,000) $ (142,252,000) $ (152,811,000)
Unearned revenue (33,567,000) (40,885,000)        
Loans and investments, net $ 7,213,915,000 $ 5,285,868,000        
Percent of Total 100.00% 100.00%        
Loan Count | loan 405 328        
Wtd. Avg. Pay Rate (as a percent) 4.85% 5.23%        
Wtd. Avg. Remaining Months to Maturity 20 months 3 days 19 months 6 days        
Wtd. Avg. First Dollar LTV Ratio (as percent) 3.00% 4.00%        
Wtd. Avg. Last Dollar LTV Ratio (as percent) 76.00% 77.00%        
Credit risk concentration            
Loans and Investments            
Wtd. Avg. First Dollar LTV Ratio (as percent) 3.00%          
Wtd. Avg. Last Dollar LTV Ratio (as percent) 76.00%          
Credit risk concentration | Single-Family Rental            
Loans and Investments            
Percent of Total 3.00%          
Wtd. Avg. First Dollar LTV Ratio (as percent) 0.00%          
Wtd. Avg. Last Dollar LTV Ratio (as percent) 63.00%          
Total assets | Credit risk concentration            
Loans and Investments            
Loan Count | loan 21 22        
Number of different borrowers | borrower 5 5        
Total assets | Credit risk concentration | Five Borrowers            
Loans and Investments            
Concentration risk, percentage 12.00% 12.00%        
Bridge loans            
Loans and Investments            
Loans and investments, gross $ 6,907,594,000 $ 5,022,509,000        
Percent of Total 94.00% 92.00%        
Loan Count | loan 360 263        
Wtd. Avg. Pay Rate (as a percent) 4.75% 5.09%        
Wtd. Avg. Remaining Months to Maturity 18 months 18 days 16 months 6 days        
Wtd. Avg. First Dollar LTV Ratio (as percent) 0.00% 0.00%        
Wtd. Avg. Last Dollar LTV Ratio (as percent) 75.00% 76.00%        
Bridge loans | Single-Family Rental            
Loans and Investments            
Number of loans under the loan portfolio | loan 77 38        
Total loan commitment $ 533,900,000 $ 309,200,000        
Preferred equity investments            
Loans and Investments            
Loans and investments, gross $ 224,814,000 $ 224,928,000        
Percent of Total 3.00% 4.00%        
Loan Count | loan 14 14        
Wtd. Avg. Pay Rate (as a percent) 6.39% 7.07%        
Wtd. Avg. Remaining Months to Maturity 44 months 21 days 49 months 24 days        
Wtd. Avg. First Dollar LTV Ratio (as percent) 64.00% 64.00%        
Wtd. Avg. Last Dollar LTV Ratio (as percent) 90.00% 89.00%        
Mezzanine loans            
Loans and Investments            
Loans and investments, gross $ 224,107,000 $ 159,242,000        
Percent of Total 3.00% 3.00%        
Loan Count | loan 29 29        
Wtd. Avg. Pay Rate (as a percent) 6.61% 7.40%        
Wtd. Avg. Remaining Months to Maturity 36 months 6 days 45 months        
Wtd. Avg. First Dollar LTV Ratio (as percent) 27.00% 32.00%        
Wtd. Avg. Last Dollar LTV Ratio (as percent) 83.00% 82.00%        
Other loans            
Loans and Investments            
Loans and investments, gross $ 29,414,000 $ 68,403,000        
Percent of Total 1.00% 1.00%        
Loan Count | loan 2 22        
Wtd. Avg. Pay Rate (as a percent) 4.63% 4.95%        
Wtd. Avg. Remaining Months to Maturity 54 months 6 days 74 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% 69.00%        
Other loans | Single-Family Rental            
Loans and Investments            
Number of loans under the loan portfolio | loan 2 22        
Unpaid principal balance, funded $ 191,500,000 $ 88,100,000        
Transfer of fixed rate SFR from Structured Business to Agency Business     21      
Transfer of UPB from Structured Business To Agency Business     $ 65,200,000