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Loans and Investments - Investment Portfolio and Concentration of Credit Risk (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2021
USD ($)
loan
property
Dec. 31, 2020
USD ($)
loan
property
Mar. 31, 2021
USD ($)
loan
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Loans and Investments          
Loans and investments, gross $ 12,158,995 $ 5,475,082      
Allowance for credit losses (113,241) (148,329)   $ (71,069)  
Unearned revenue (64,706) (40,885)      
Loans and investments, net $ 11,981,048 $ 5,285,868   $ 4,189,960 $ 3,200,145
Percent of Total 100.00% 100.00%      
Loan Count | loan 580 328      
Wtd. Avg. Pay Rate (as a percent) 4.26% 5.23%      
Wtd. Avg. Remaining Months to Maturity 24 months 18 days 19 months 6 days      
Wtd. Avg. First Dollar LTV Ratio (as percent) 1.00% 4.00%      
Wtd. Avg. Last Dollar LTV Ratio (as percent) 76.00% 77.00%      
Single-Family Rental          
Loans and Investments          
Transfer of fixed rate SFR from Structured Business to Agency Business | loan     21    
Transfer of UPB from Structured Business To Agency Business     $ 65,200    
Credit risk concentration          
Loans and Investments          
Wtd. Avg. First Dollar LTV Ratio (as percent) 1.00%        
Wtd. Avg. Last Dollar LTV Ratio (as percent) 76.00%        
Credit risk concentration | Single-Family Rental          
Loans and Investments          
Percent of Total 4.00%        
Wtd. Avg. First Dollar LTV Ratio (as percent) 0.00%        
Wtd. Avg. Last Dollar LTV Ratio (as percent) 65.00%        
Total assets | Credit risk concentration          
Loans and Investments          
Loan Count | loan 31 22      
Number of different borrowers | property 5 5      
Concentration Risk Threshold Percentage 11 12      
Bridge Loans          
Loans and Investments          
Loans and investments, gross $ 11,750,710 $ 5,022,509      
Percent of Total 97.00% 92.00%      
Loan Count | loan 528 263      
Wtd. Avg. Pay Rate (as a percent) 4.19% 5.09%      
Wtd. Avg. Remaining Months to Maturity 23 months 24 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) 76.00% 76.00%      
Bridge Loans | Single-Family Rental          
Loans and Investments          
Number of loans under the loan portfolio | loan 120 38      
Total loan commitment $ 804,600 $ 309,200      
Mezzanine Loans          
Loans and Investments          
Loans and investments, gross $ 223,378 $ 159,242      
Percent of Total 2.00% 3.00%      
Loan Count | loan 39 29      
Wtd. Avg. Pay Rate (as a percent) 7.32% 7.40%      
Wtd. Avg. Remaining Months to Maturity 56 months 9 days 45 months      
Wtd. Avg. First Dollar LTV Ratio (as percent) 34.00% 32.00%      
Wtd. Avg. Last Dollar LTV Ratio (as percent) 84.00% 82.00%      
Preferred equity investments          
Loans and Investments          
Loans and investments, gross $ 155,513 $ 224,928      
Percent of Total 1.00% 4.00%      
Loan Count | loan 11 14      
Wtd. Avg. Pay Rate (as a percent) 5.57% 7.07%      
Wtd. Avg. Remaining Months to Maturity 38 months 49 months 24 days      
Wtd. Avg. First Dollar LTV Ratio (as percent) 58.00% 64.00%      
Wtd. Avg. Last Dollar LTV Ratio (as percent) 87.00% 89.00%      
Other loans          
Loans and Investments          
Loans and investments, gross $ 29,394 $ 68,403      
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 48 months 3 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) 67.00% 69.00%      
Other loans | Single-Family Rental          
Loans and Investments          
Number of loans under the loan portfolio | loan 2 22      
Unpaid principal balance, funded $ 408,200 $ 88,100