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Loans and Investments - Investment Portfolio and Concentration of Credit Risk (Details)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
USD ($)
loan
borrower
Dec. 31, 2022
USD ($)
loan
borrower
Mar. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Loans and Investments        
Loans and investments $ 13,643,724 $ 14,456,123    
Allowance for credit losses (153,077) (132,559) $ (116,382) $ (113,241)
Unearned revenue (59,662) (68,890)    
Loans and investments, net $ 13,430,985 $ 14,254,674    
Percent of Total 100.00% 100.00%    
Loan Count | loan 715 747    
Wtd. Avg. Pay Rate (as a percent) 8.60% 8.17%    
Wtd. Avg. Remaining Months to Maturity 19 months 6 days 20 months 18 days    
Wtd. Avg. First Dollar LTV Ratio (as percent) 1.00% 1.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 76.00% 76.00%    
Single-Family Rental        
Loans and Investments        
Allowance for credit losses $ (973) $ (781) $ (421) $ (320)
Concentration of Credit Risk        
Loans and Investments        
Loans and investments $ 13,643,724      
Wtd. Avg. First Dollar LTV Ratio (as percent) 1.00%      
Wtd. Avg. Last Dollar LTV Ratio (as percent) 76.00%      
Concentration of Credit Risk | Single-Family Rental        
Loans and Investments        
Loans and investments $ 1,014,992      
Percent of Total 7.00%      
Wtd. Avg. First Dollar LTV Ratio (as percent) 0.00%      
Wtd. Avg. Last Dollar LTV Ratio (as percent) 63.00%      
Total Assets | Concentration of Credit Risk        
Loans and Investments        
Loan Count | loan 84 38    
Number of different borrowers | borrower 5 5    
Total Assets | Concentration of Credit Risk | Five Borrowers        
Loans and Investments        
Concentration risk, percentage 11.00% 11.00%    
Bridge loans        
Loans and Investments        
Loans and investments $ 13,298,939 $ 14,096,054    
Percent of Total 97.00% 98.00%    
Loan Count | loan 659 692    
Wtd. Avg. Pay Rate (as a percent) 8.62% 8.17%    
Wtd. Avg. Remaining Months to Maturity 18 months 9 days 19 months 24 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 254 241    
Total loan commitment $ 1,630,000 $ 1,570,000    
Mezzanine loan        
Loans and Investments        
Loans and investments $ 222,094 $ 213,499    
Percent of Total 2.00% 1.00%    
Loan Count | loan 46 44    
Wtd. Avg. Pay Rate (as a percent) 8.15% 8.13%    
Wtd. Avg. Remaining Months to Maturity 60 months 21 days 63 months 3 days    
Wtd. Avg. First Dollar LTV Ratio (as percent) 44.00% 42.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 80.00% 77.00%    
Preferred equity investments        
Loans and Investments        
Loans and investments $ 89,725 $ 110,725    
Percent of Total 1.00% 1.00%    
Loan Count | loan 7 8    
Wtd. Avg. Pay Rate (as a percent) 6.56% 7.63%    
Wtd. Avg. Remaining Months to Maturity 45 months 9 days 39 months 6 days    
Wtd. Avg. First Dollar LTV Ratio (as percent) 47.00% 46.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 84.00% 79.00%    
Other loan        
Loans and Investments        
Loans and investments $ 32,966 $ 35,845    
Percent of Total 1.00% 1.00%    
Loan Count | loan 3 3    
Wtd. Avg. Pay Rate (as a percent) 9.23% 8.76%    
Wtd. Avg. Remaining Months to Maturity 29 months 15 days 32 months 24 days    
Wtd. Avg. First Dollar LTV Ratio (as percent) 0.00% 0.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 57.00% 58.00%    
Other loan | Single-Family Rental        
Loans and Investments        
Number of loans under the loan portfolio | loan 3 3    
Unpaid principal balance, funded $ 982,000 $ 927,400