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Loans and Investments - Investment Portfolio and Concentration of Credit Risk (Details)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2023
USD ($)
loan
Dec. 31, 2022
USD ($)
loan
Jun. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
Jun. 30, 2022
USD ($)
Dec. 31, 2021
USD ($)
Loans and Investments            
Loans and investments, gross $ 13,122,395 $ 14,456,123        
Allowance for credit losses (184,069) (132,559) $ (169,054) $ (122,296) $ (121,331) $ (113,241)
Unearned revenue (45,530) (68,890)        
Loans and investments, net $ 12,892,796 $ 14,254,674        
Percent of Total 100.00% 100.00%        
Loan Count | loan 723 747        
Wtd. Avg. Pay Rate (as a percent) 8.80% 8.17%        
Wtd. Avg. Remaining Months to Maturity 14 months 27 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) 77.00% 76.00%        
Single-Family Rental            
Loans and Investments            
Allowance for credit losses $ (1,239) $ (781) (1,077) $ (2,051) $ (725) $ (320)
Bridge loans            
Loans and Investments            
Loans and investments, gross $ 12,790,972 $ 14,096,054 $ 70,500      
Percent of Total 97.00% 98.00%        
Loan Count | loan 664 692        
Wtd. Avg. Pay Rate (as a percent) 8.85% 8.17%        
Wtd. Avg. Remaining Months to Maturity 13 months 24 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) 77.00% 76.00%        
Bridge loans | Single-Family Rental            
Loans and Investments            
Number of loans under the loan portfolio | loan 311 241        
Total loan commitment $ 2,050,000 $ 1,570,000        
Mezzanine loans            
Loans and Investments            
Loans and investments, gross $ 233,805 $ 213,499        
Percent of Total 2.00% 1.00%        
Loan Count | loan 47 44        
Wtd. Avg. Pay Rate (as a percent) 8.35% 8.13%        
Wtd. Avg. Remaining Months to Maturity 54 months 21 days 63 months 3 days        
Wtd. Avg. First Dollar LTV Ratio (as percent) 45.00% 42.00%        
Wtd. Avg. Last Dollar LTV Ratio (as percent) 79.00% 77.00%        
Preferred equity investments            
Loans and Investments            
Loans and investments, gross $ 87,924 $ 110,725        
Percent of Total 1.00% 1.00%        
Loan Count | loan 10 8        
Wtd. Avg. Pay Rate (as a percent) 3.03% 7.63%        
Wtd. Avg. Remaining Months to Maturity 62 months 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 loans            
Loans and Investments            
Loans and investments, gross $ 9,694 $ 35,845        
Percent of Total 1.00% 1.00%        
Loan Count | loan 2 3        
Wtd. Avg. Pay Rate (as a percent) 9.72% 8.76%        
Wtd. Avg. Remaining Months to Maturity 15 months 18 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) 62.00% 58.00%        
Other loans | Single-Family Rental            
Loans and Investments            
Unpaid principal balance, funded $ 1,160,000 $ 927,400