XML 102 R88.htm IDEA: XBRL DOCUMENT
v3.23.1

FAIR VALUE OF FINANCIAL INSTRUMENTS - Estimated Fair Values of Financial Instruments (Details) $ in Thousands | 3 Months Ended | 12 Months Ended |  |
--- | --- | --- | --- | ---
Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2021 USD ($)
Assets: |  |  |  |
Fair Value | $ 3,352,969 | $ 3,922,131 |  |
Allowance for credit losses | (25,499) | (20,755) | $ (32,332) | $ (31,752)
Liabilities: |  |  |  |
Fair Value | 3,739,091 | 3,994,458 |  |
Level 1 |  |  |  |
Assets: |  |  |  |
Fair Value | 0 | 0 |  |
Liabilities: |  |  |  |
Fair Value | 0 | 0 |  |
Level 2 |  |  |  |
Assets: |  |  |  |
Fair Value | 0 | 0 |  |
Liabilities: |  |  |  |
Fair Value | 0 | 0 |  |
Level 3 |  |  |  |
Assets: |  |  |  |
Fair Value | 3,352,969 | 3,922,131 |  |
Liabilities: |  |  |  |
Fair Value | $ 3,739,091 | $ 3,994,458 |  |
Total mortgage loan receivables held for investment, net, at amortized cost |  |  |  |
Liabilities: |  |  |  |
Period of short interest rate reset risk | 30 days | 30 days |  |
CLO debt |  |  |  |
Liabilities: |  |  |  |
Period of short interest rate reset risk |  | 30 days |  |
Recurring |  |  |  |
Assets: |  |  |  |
Fair Value | $ 512,053 | $ 580,130 |  |
Recurring | Level 1 |  |  |  |
Assets: |  |  |  |
Fair Value | 24,885 | 35,446 |  |
Recurring | Level 2 |  |  |  |
Assets: |  |  |  |
Fair Value | 1,421 | 2,038 |  |
Recurring | Level 3 |  |  |  |
Assets: |  |  |  |
Fair Value | 485,747 | 542,646 |  |
Recurring | Agency securities |  |  |  |
Assets: |  |  |  |
Principal Amount | 32 | 36 |  |
Fair Value | 31 | 35 |  |
Recurring | Agency securities | Level 1 |  |  |  |
Assets: |  |  |  |
Fair Value | 0 | 0 |  |
Recurring | Agency securities | Level 2 |  |  |  |
Assets: |  |  |  |
Fair Value | 0 | 0 |  |
Recurring | Agency securities | Level 3 |  |  |  |
Assets: |  |  |  |
Fair Value | 31 | 35 |  |
Recurring | CMBS | Internal Model Third Party Inputs Valuation Technique |  |  |  |
Assets: |  |  |  |
Principal Amount | 503,183 | 562,839 |  |
Amortized Cost Basis/Purchase Price | 502,710 | 562,246 |  |
Fair Value | $ 485,191 | $ 541,333 |  |
Liabilities: |  |  |  |
Financial instruments, measurement input | 0.0576 | 0.0532 |  |
Weighted average remaining maturity/duration | 1 year 3 days | 1 year 21 days |  |
Recurring | CMBS interest-only | Internal Model Third Party Inputs Valuation Technique |  |  |  |
Assets: |  |  |  |
Principal Amount | $ 898,620 | $ 1,026,195 |  |
Amortized Cost Basis/Purchase Price | 9,493 | 10,498 |  |
Fair Value | $ 9,537 | $ 10,443 |  |
Liabilities: |  |  |  |
Financial instruments, measurement input | 0.0382 | 0.0365 |  |
Weighted average remaining maturity/duration | 1 year 4 months 13 days | 1 year 5 months 12 days |  |
Recurring | GNMA interest-only | Internal Model Third Party Inputs Valuation Technique |  |  |  |
Assets: |  |  |  |
Principal Amount | $ 44,966 | $ 45,369 |  |
Amortized Cost Basis/Purchase Price | 265 | 285 |  |
Fair Value | $ 385 | $ 281 |  |
Liabilities: |  |  |  |
Financial instruments, measurement input | 0.0595 | 0.0423 |  |
Weighted average remaining maturity/duration | 3 years 1 month 2 days | 3 years 3 months 18 days |  |
Recurring | Agency securities | Internal Model Third Party Inputs Valuation Technique |  |  |  |
Assets: |  |  |  |
Principal Amount | $ 32 | $ 36 |  |
Amortized Cost Basis/Purchase Price | 33 | 36 |  |
Fair Value | $ 31 | $ 35 |  |
Liabilities: |  |  |  |
Financial instruments, measurement input | 0.0270 | 0.0270 |  |
Weighted average remaining maturity/duration | 1 year 5 months 1 day | 1 year 6 months 14 days |  |
Recurring | U.S. Treasury securities | Internal Model Third Party Inputs Valuation Technique |  |  |  |
Assets: |  |  |  |
Principal Amount | $ 25,000 | $ 36,000 |  |
Amortized Cost Basis/Purchase Price | 24,772 | 35,328 |  |
Fair Value | $ 24,772 | $ 35,328 |  |
Liabilities: |  |  |  |
Financial instruments, measurement input | 0.0410 | 0.0417 |  |
Weighted average remaining maturity/duration | 3 months 14 days | 7 months 6 days |  |
Recurring | Equity Securities |  |  |  |
Assets: |  |  |  |
Amortized Cost Basis/Purchase Price | $ 160 | $ 160 |  |
Fair Value | 113 | 118 |  |
Recurring | Total mortgage loan receivables held for investment, net, at amortized cost | Discounted Cash Flow |  |  |  |
Assets: |  |  |  |
Principal Amount | 3,809,591 | 3,907,295 |  |
Amortized Cost Basis/Purchase Price | 3,794,075 | 3,885,746 |  |
Fair Value | 3,306,791 | 3,875,708 |  |
Allowance for credit losses | $ (25,500) | $ (20,800) |  | $ (20,800)
Liabilities: |  |  |  |
Financial instruments, measurement input | 0.0918 | 0.0885 |  |
Weighted average remaining maturity/duration | 1 year 25 days | 1 year 3 months 3 days |  |
Recurring | Mortgage loan receivables held for sale | Internal Model Third Party Inputs Valuation Technique |  |  |  |
Assets: |  |  |  |
Principal Amount | $ 31,350 | $ 31,350 |  |
Amortized Cost Basis/Purchase Price | 27,197 | 27,391 |  |
Fair Value | $ 27,197 | $ 27,391 |  |
Liabilities: |  |  |  |
Financial instruments, measurement input | 0.0457 | 0.0457 |  |
Weighted average remaining maturity/duration | 8 years 11 months 8 days | 9 years 2 months 8 days |  |
Recurring | FHLB stock | FHLB stock |  |  |  |
Assets: |  |  |  |
Principal Amount | $ 9,585 | $ 9,585 |  |
Amortized Cost Basis/Purchase Price | 9,585 | 9,585 |  |
Fair Value | $ 9,585 | $ 9,585 |  |
Liabilities: |  |  |  |
Financial instruments, measurement input | 0.0475 | 0.0475 |  |
Recurring | Nonhedge derivatives | Counterparty Quotations Valuation Technique |  |  |  |
Assets: |  |  |  |
Nonhedge derivative assets | $ 106,408 | $ 204,700 |  |
Amortized Cost Basis/Purchase Price | 1,421 | 2,038 |  |
Fair Value | $ 1,421 | $ 2,038 |  |
Liabilities: |  |  |  |
Weighted average remaining maturity/duration | 1 year 5 months 1 day | 1 year 6 months 7 days |  |
Recurring | Repurchase agreements - short-term | Cost Plus Accrued Interest Valuation Technique |  |  |  |
Liabilities: |  |  |  |
Principal Amount | $ 402,869 | $ 481,465 |  |
Amortized Cost Basis/Purchase Price | 402,869 | 481,465 |  |
Fair Value | $ 402,869 | $ 481,465 |  |
Financial instruments, measurement input | 0.0576 | 0.0404 |  |
Weighted average remaining maturity/duration | 6 months 10 days | 4 months 13 days |  |
Recurring | Repurchase agreements - long-term | Discounted Cash Flow |  |  |  |
Liabilities: |  |  |  |
Principal Amount | $ 366,398 | $ 366,398 |  |
Amortized Cost Basis/Purchase Price | 366,398 | 366,398 |  |
Fair Value | $ 366,398 | $ 366,398 |  |
Financial instruments, measurement input | 0.0577 | 0.0406 |  |
Weighted average remaining maturity/duration | 2 years 3 months 21 days | 2 years 6 months 21 days |  |
Recurring | Mortgage loan financing | Discounted Cash Flow |  |  |  |
Liabilities: |  |  |  |
Principal Amount | $ 469,121 | $ 497,454 |  |
Amortized Cost Basis/Purchase Price | 469,690 | 497,991 |  |
Fair Value | $ 453,300 | $ 477,101 |  |
Financial instruments, measurement input | 0.0568 | 0.0551 |  |
Weighted average remaining maturity/duration | 3 years 3 months 21 days | 3 years 4 months 9 days |  |
Recurring | CLO debt | Discounted Cash Flow |  |  |  |
Liabilities: |  |  |  |
Principal Amount | $ 1,064,365 | $ 1,064,365 |  |
Amortized Cost Basis/Purchase Price | 1,059,593 | 1,058,462 |  |
Fair Value | $ 1,059,593 | $ 1,058,462 |  |
Financial instruments, measurement input | 0.0700 | 0.0635 |  |
Weighted average remaining maturity/duration | 15 years 8 months 4 days | 15 years 11 months 1 day |  |
Recurring | Borrowings from the FHLB | Discounted Cash Flow |  |  |  |
Liabilities: |  |  |  |
Principal Amount | $ 213,000 | $ 213,000 |  |
Amortized Cost Basis/Purchase Price | 213,000 | 213,000 |  |
Fair Value | $ 212,911 | $ 213,055 |  |
Financial instruments, measurement input | 0.0121 | 0.0161 |  |
Weighted average remaining maturity/duration | 1 year | 1 year 3 months |  |
Recurring | Senior unsecured notes | Internal Model Third Party Inputs Valuation Technique |  |  |  |
Liabilities: |  |  |  |
Principal Amount | $ 1,585,063 | $ 1,643,794 |  |
Amortized Cost Basis/Purchase Price | 1,570,878 | 1,628,382 |  |
Fair Value | $ 1,244,020 | $ 1,397,977 |  |
Financial instruments, measurement input | 0.0466 | 0.0466 |  |
Weighted average remaining maturity/duration | 4 years 6 months 10 days | 4 years 9 months |  |

X
- Definition Represents the assets at amortized cost basis. + References No definition available. + Details
Name: | ladr_AssetsAmortizedCostBasis
Namespace Prefix: | ladr_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Represents the outstanding face amount of assets. + References No definition available. + Details
Name: | ladr_AssetsOutstandingFaceAmount
Namespace Prefix: | ladr_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Represents the remaining maturity period, used as an input to measure fair value. + References No definition available. + Details
Name: | ladr_FairValueInputsRemainingMaturityPeriod
Namespace Prefix: | ladr_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the liabilities at amortized cost basis. + References No definition available. + Details
Name: | ladr_LiabilitiesAmortizedCostBasis
Namespace Prefix: | ladr_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Represents the outstanding face amount of liabilities. + References No definition available. + Details
Name: | ladr_LiabilitiesOutstandingFaceAmount
Namespace Prefix: | ladr_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Represents the period of short interest rate reset risk. + References No definition available. + Details
Name: | ladr_PeriodOfShortInterestRateResetRisk
Namespace Prefix: | ladr_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AssetsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Fair value portion of probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_AssetsFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Value of input used to measure investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleMeasurementInput
Namespace Prefix: | us-gaap_
Data Type: | xbrli:decimalItemType
Balance Type: | na
Period Type: | instant

X
- Definition Nominal or face amount used to calculate payments on the derivative asset. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 + Details
Name: | us-gaap_DerivativeAssetNotionalAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount excluding accrued interest, of allowance for credit loss on financing receivable. Excludes net investment in lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=124255206&loc=SL82895884-210446 + Details
Name: | us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- References No definition available. + Details
Name: | us-gaap_LiabilitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Fair value of financial and nonfinancial obligations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_LiabilitiesFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=ladr_MortgageLoanReceivablesHeldForInvestmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_CollateralizedDebtObligationsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=us-gaap_USGovernmentAgenciesDebtSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_CommercialMortgageBackedSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ValuationTechniqueAxis=ladr_InternalModelThirdPartyInputsValuationTechniqueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=ladr_CommercialMortgageBackedSecuritiesInterestOnlyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=ladr_GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAInterestOnlyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_USGovernmentAgenciesDebtSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_USTreasurySecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_EquitySecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ValuationTechniqueAxis=ladr_DiscountedCashFlowValuationTechniqueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=ladr_MortgageLoanReceivablesHeldForSaleMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_InvestmentInFederalHomeLoanBankStockMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ValuationTechniqueAxis=us-gaap_CostApproachValuationTechniqueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_DerivativeFinancialInstrumentsAssetsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ValuationTechniqueAxis=ladr_CounterpartyQuotationsValuationTechniqueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=ladr_RepurchaseAgreementsShortTermMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ValuationTechniqueAxis=ladr_CostPlusAccruedInterestValuationTechniqueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=ladr_RepurchaseAgreementsLongTermMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_MortgagesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_FederalHomeLoanBankAdvancesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_SeniorNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |