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v3.21.1

Residential Whole Loans (Allowance for Credit Losses) (Details) - USD ($) | 3 Months Ended |
--- | --- | ---
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward] |  |  |
Beginning balance | $ 86,833,000 | $ 3,025,000 |
Transition adjustment on adoption of ASU 2016-13 |  | 70,555,000 |
Current provision | (22,372,000) | 74,897,000 |
Write-offs | (1,217,000) | (647,000) |
Valuation adjustment on loans held for sale |  | (70,181,000) |
Ending balance | 63,244,000 | 218,011,000 |
Residential whole loans, at carrying value | 3,932,300,000 |  |
Fair Value | 350,115,000 |  | $ 399,999,000
Gross up of the amortized cost basis of Purchased Credit Deteriorated Loans |  | 62,400,000 |
Non-QM Loans |  |  |
Financing Receivable, Allowance for Credit Loss [Roll Forward] |  |  |
Beginning balance | 21,068,000 | 388,000 |
Transition adjustment on adoption of ASU 2016-13 |  | 6,904,000 |
Current provision | (6,523,000) | 26,358,000 |
Write-offs | 0 | 0 |
Valuation adjustment on loans held for sale |  | (70,181,000) |
Ending balance | 14,545,000 | 103,831,000 |
Fair Value | 895,300,000 |  |
Rehabilitation loans |  |  |
Financing Receivable, Allowance for Credit Loss [Roll Forward] |  |  |
Beginning balance | 18,371,000 | 2,331,000 |
Transition adjustment on adoption of ASU 2016-13 |  | 517,000 |
Current provision | (3,700,000) | 33,213,000 |
Write-offs | (1,003,000) | (428,000) |
Valuation adjustment on loans held for sale |  | 0 |
Ending balance | 13,668,000 | 35,633,000 |
Residential whole loans, at carrying value | 149,200,000 | 110,800,000 |
Single-family rental loans |  |  |
Financing Receivable, Allowance for Credit Loss [Roll Forward] |  |  |
Beginning balance | 3,918,000 | 62,000 |
Transition adjustment on adoption of ASU 2016-13 |  | 754,000 |
Current provision | (1,172,000) | 6,615,000 |
Write-offs | 0 | 0 |
Valuation adjustment on loans held for sale |  | 0 |
Ending balance | 2,746,000 | 7,431,000 |
Seasoned performing loans |  |  |
Financing Receivable, Allowance for Credit Loss [Roll Forward] |  |  |
Beginning balance | 107,000 | 0 |
Transition adjustment on adoption of ASU 2016-13 |  | 19,000 |
Current provision | (41,000) | 230,000 |
Write-offs | 0 | 0 |
Valuation adjustment on loans held for sale |  | 0 |
Ending balance | 66,000 | 249,000 |
Purchased Credit Deteriorated Loans |  |  |
Financing Receivable, Allowance for Credit Loss [Roll Forward] |  |  |
Beginning balance | 43,369,000 | 244,000 |
Transition adjustment on adoption of ASU 2016-13 |  | 62,361,000 |
Current provision | (10,936,000) | 8,481,000 |
Write-offs | (214,000) | (219,000) |
Valuation adjustment on loans held for sale |  | 0 |
Ending balance | 32,219,000 | 70,867,000 |
Residential whole loans, at carrying value | 87,700,000 | 74,500,000 |
Unfunded Loan Commitment |  |  |
Financing Receivable, Allowance for Credit Loss [Roll Forward] |  |  |
Ending balance | 795,905 | 3,500,000 |
Commitment to lend, unfunded | 54,400,000 | $ 123,100,000 |
Non-QM Loans |  |  |
Financing Receivable, Allowance for Credit Loss [Roll Forward] |  |  |
Write-offs | 0 |  |
Residential whole loans, at carrying value | $ 2,243,444,000 |  |

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