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Loans and Investments - Summary of Impaired Loans (Details)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2024
USD ($)
loan
Dec. 31, 2023
USD ($)
loan
Loans and Investments    
UPB $ 629,255 $ 427,929
Carrying Value 596,863 404,896
Allowance for Credit Losses $ 145,749 $ 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 27 19
Multifamily    
Loans and Investments    
UPB $ 473,820 $ 272,494
Carrying Value 452,237 260,291
Allowance for Credit Losses $ 62,887 $ 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 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 $ 19,520 $ 19,520
Carrying Value 15,058 15,037
Allowance for Credit Losses $ 3,293 $ 3,292
Wtd. Avg. First Dollar LTV Ratio 0 0
Wtd. Avg. Last Dollar LTV Ratio 0.88 0.88
Commercial    
Loans and Investments    
UPB $ 1,700 $ 1,700
Carrying Value 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