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Loans and Investments - Summary of Impaired Loans (Details)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2024
USD ($)
loan
Dec. 31, 2023
USD ($)
loan
Loans and Investments    
UPB $ 507,659 $ 427,929
Carrying Value (1) 483,377 404,896
Allowance for Credit Losses $ 133,361 $ 120,611
Wtd. Avg. First Dollar LTV Ratio 0 0
Wtd. Avg. Last Dollar LTV Ratio 0.99 0.99
Number of impaired loans (less unearned revenue and other holdbacks and adjustments) by asset class | loan 22 19
Multifamily    
Loans and Investments    
UPB $ 352,223 $ 272,493
Carrying Value (1) 338,772 260,291
Allowance for Credit Losses $ 50,500 $ 37,750
Wtd. Avg. First Dollar LTV Ratio 0 0
Wtd. Avg. Last Dollar LTV Ratio 0.99 1
Land    
Loans and Investments    
UPB $ 134,215 $ 134,215
Carrying Value (1) 127,868 127,868
Allowance for Credit Losses $ 77,869 $ 77,869
Wtd. Avg. First Dollar LTV Ratio 0 0
Wtd. Avg. Last Dollar LTV Ratio 0.99 0.99
Retail    
Loans and Investments    
UPB $ 19,521 $ 19,521
Carrying Value (1) 15,037 15,037
Allowance for Credit Losses $ 3,292 $ 3,292
Wtd. Avg. First Dollar LTV Ratio 0 0
Wtd. Avg. Last Dollar LTV Ratio 0.95 0.88
Commercial    
Loans and Investments    
UPB $ 1,700 $ 1,700
Carrying Value (1) 1,700 1,700
Allowance for Credit Losses $ 1,700 $ 1,700
Wtd. Avg. First Dollar LTV Ratio 0 0
Wtd. Avg. Last Dollar LTV Ratio 1 1