XML 70 R59.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Debt Obligations - Credit and Repurchase Facilities (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Feb. 29, 2024
Jan. 31, 2024
Debt Obligations        
Debt Carrying Value $ 2,913,483 $ 3,237,827    
Collateral Carrying Value $ 4,143,426 4,606,657    
Wtd. Avg. Note Rate 7.72%      
Outstanding principal balance repaid $ 36,700      
Structured Business        
Debt Obligations        
Debt Carrying Value 2,601,520 2,824,501    
Collateral Carrying Value $ 3,826,513 4,062,162    
Wtd. Avg. Note Rate 7.84%      
Deferred financing fees $ 7,400 4,800    
Structured Business | B Piece bonds        
Debt Obligations        
Outstanding principal balance repaid   43,100    
Structured Business | $2.5B joint repurchase facility        
Debt Obligations        
Maximum borrowing capacity 1,900,000      
Debt Carrying Value 783,102 868,077    
Collateral Carrying Value $ 1,268,862 1,371,436    
Wtd. Avg. Note Rate 7.79%      
Structured Business | $1B repurchase facility        
Debt Obligations        
Maximum borrowing capacity $ 1,000,000      
Debt Carrying Value 346,099 385,779    
Collateral Carrying Value $ 537,148 589,533    
Wtd. Avg. Note Rate 7.85%      
Structured Business | $1B repurchase facility        
Debt Obligations        
Maximum borrowing capacity $ 1,000,000      
Debt Carrying Value 440,959 447,490    
Collateral Carrying Value $ 588,623 597,205    
Wtd. Avg. Note Rate 8.39%      
Structured Business | $499M repurchase facility        
Debt Obligations        
Maximum borrowing capacity $ 499,000      
Debt Carrying Value 396,650 355,328    
Collateral Carrying Value $ 565,610 506,753    
Wtd. Avg. Note Rate 7.81%      
Structured Business | $350M repurchase facility        
Debt Obligations        
Maximum borrowing capacity $ 350,000      
Debt Carrying Value 151,448 262,820    
Collateral Carrying Value $ 228,535 362,465    
Wtd. Avg. Note Rate 7.54%      
Structured Business | $250M credit facility        
Debt Obligations        
Maximum borrowing capacity $ 250,000      
Debt Carrying Value 18,166 0    
Collateral Carrying Value $ 36,470 0    
Wtd. Avg. Note Rate 8.71%      
Structured Business | $250M repurchase facility        
Debt Obligations        
Maximum borrowing capacity $ 250,000      
Debt Carrying Value 13,903 17,964    
Collateral Carrying Value $ 23,088 23,088    
Wtd. Avg. Note Rate 7.29%      
Structured Business | $250M credit facility        
Debt Obligations        
Maximum borrowing capacity $ 250,000      
Debt Carrying Value 0 0    
Collateral Carrying Value $ 0 0    
Wtd. Avg. Note Rate 0.00%      
Structured Business | $200M credit facility        
Debt Obligations        
Maximum borrowing capacity       $ 200,000
Debt Carrying Value $ 8,818 32,579    
Collateral Carrying Value $ 13,692 41,522    
Wtd. Avg. Note Rate 7.13%      
Structured Business | $200M repurchase facility        
Debt Obligations        
Maximum borrowing capacity $ 200,000      
Debt Carrying Value 58,464 45,969    
Collateral Carrying Value $ 92,615 68,762    
Wtd. Avg. Note Rate 8.00%      
Structured Business | $200M repurchase facility        
Debt Obligations        
Maximum borrowing capacity       $ 200,000
Debt Carrying Value $ 106,950 107,324    
Collateral Carrying Value $ 141,130 141,130    
Wtd. Avg. Note Rate 7.40%      
Structured Business | $150M repurchase facility        
Debt Obligations        
Maximum borrowing capacity $ 150,000      
Debt Carrying Value 91,858 120,610    
Collateral Carrying Value $ 124,003 162,068    
Wtd. Avg. Note Rate 8.46%      
Structured Business | $126M loan specific credit facilities        
Debt Obligations        
Maximum borrowing capacity     $ 126,000  
Debt Carrying Value $ 125,819 120,328    
Collateral Carrying Value $ 170,237 161,700    
Wtd. Avg. Note Rate 6.77%      
Structured Business | $50M credit facility        
Debt Obligations        
Maximum borrowing capacity $ 50,000      
Debt Carrying Value 29,200 29,200    
Collateral Carrying Value $ 36,500 36,500    
Wtd. Avg. Note Rate 7.54%      
Structured Business | $40M credit facility        
Debt Obligations        
Maximum borrowing capacity $ 40,000      
Debt Carrying Value 0 0    
Collateral Carrying Value $ 0 0    
Wtd. Avg. Note Rate 0.00%      
Structured Business | $35M working capital facility        
Debt Obligations        
Maximum borrowing capacity $ 35,000      
Debt Carrying Value 0 0    
Collateral Carrying Value $ 0 0    
Wtd. Avg. Note Rate 0.00%      
Structured Business | Repurchase facility - securities        
Debt Obligations        
Debt Carrying Value $ 30,084 31,033    
Collateral Carrying Value $ 0 0    
Wtd. Avg. Note Rate 7.12%      
Structured Business | $500M repurchase facility        
Debt Obligations        
Maximum borrowing capacity $ 500,000      
Agency Business        
Debt Obligations        
Debt Carrying Value 311,963 413,326    
Collateral Carrying Value $ 316,913 544,495    
Wtd. Avg. Note Rate 6.71%      
Deferred financing fees $ 300 300    
Agency Business | $50M credit facility        
Debt Obligations        
Maximum borrowing capacity 50,000      
Debt Carrying Value 25,055 29,083    
Collateral Carrying Value $ 25,080 29,418    
Wtd. Avg. Note Rate 6.69%      
Agency Business | $750M ASAP agreement        
Debt Obligations        
Maximum borrowing capacity $ 750,000      
Debt Carrying Value 83,866 73,011    
Collateral Carrying Value $ 83,961 73,781    
Wtd. Avg. Note Rate 6.47%      
Agency Business | $500M repurchase facility        
Debt Obligations        
Maximum borrowing capacity $ 500,000      
Debt Carrying Value 64,632 115,730    
Collateral Carrying Value $ 65,065 241,895    
Wtd. Avg. Note Rate 6.81%      
Agency Business | $200M credit facility        
Debt Obligations        
Maximum borrowing capacity $ 200,000      
Debt Carrying Value 129,967 187,138    
Collateral Carrying Value $ 130,604 187,185    
Wtd. Avg. Note Rate 6.74%      
Agency Business | $100M joint repurchase facility        
Debt Obligations        
Maximum borrowing capacity $ 100,000      
Debt Carrying Value 7,912 7,833    
Collateral Carrying Value $ 11,350 11,350    
Wtd. Avg. Note Rate 7.74%      
Agency Business | $100M credit facility        
Debt Obligations        
Maximum borrowing capacity $ 100,000      
Debt Carrying Value 0 0    
Collateral Carrying Value $ 0 0    
Wtd. Avg. Note Rate 0.00%      
Agency Business | $1M repurchase facility        
Debt Obligations        
Maximum borrowing capacity $ 1,000      
Debt Carrying Value 531 531    
Collateral Carrying Value $ 853 $ 866    
Wtd. Avg. Note Rate 7.79%      
Structured and Agency Business | $3 Billion joint repurchase facility        
Debt Obligations        
Maximum borrowing capacity     $ 3,000,000  
Structured and Agency Business | $2 Billion joint repurchase facility        
Debt Obligations        
Maximum borrowing capacity $ 2,000,000