v3.22.2.2

Related Party (Tables) | 9 Months Ended
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Sep. 30, 2022
Related Party Transactions [Abstract] |
Schedule of promissory notes | The following table provides details of financing that the Company has provided, in the form of secured promissory notes, to certain loan origination-related entities in which the Company also holds equity investments:
Effective Date of Promissory Note |  | Maturity Date of Promissory Note |  |  |  | Interest Rate as of |  | Outstanding Borrowings as of |  | Fair Value(1) as of
|  | Maximum Borrowing |  | September 30, 2022 |  | December 31, 2021 |  | September 30, 2022 |  | December 31, 2021 |  | September 30, 2022 |  | December 31, 2021
|  |  |  | (In thousands) |  |  |  |  |  | (In thousands)
May 2021(2) |  | December 31, 2025 |  | $ | 6,000 |  |  | 6.0% |  | 3.0% |  | $ | 3,000 |  |  | $ | 3,000 |  |  | $ | 3,000 |  |  | $ | 3,000 |
February 2022 |  | January 31, 2025 |  | $ | 500 |  |  | 7.0% |  | —% |  | $ | 425 |  |  | $ | — |  |  | $ | 425 |  |  | $ | — |
(1)Classified as a Corporate loan and is included in Loans, at fair value on the Consolidated Balance Sheet. (2)Convertible into non-voting equity interests, at the option of the borrower, at any time prior to maturity. In June 2022, the Company converted a $2.0 million corporate loan to a mortgage loan originator into preferred equity, and in connection with such conversion, the Company purchased an additional $150 thousand of such preferred equity. The Company also held a non-controlling common equity investment in this originator. As of September 30, 2022, the Company's investments in this originator were written off as the Company determined its cost basis was non-recoverable. For the three- and nine-month periods ended September 30, 2022, the Company recognized a realized loss of $(1.3) million and $(4.8) million, respectively, related to its investment in this originator, which are included in Earnings (losses) from investments in unconsolidated entities, on its Condensed Consolidated Statement of Operations.

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