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v3.23.1

Residential Whole Loans - Residential Whole Loans, at Carrying Value Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2023 | Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Weighted Average LTV Ratio | 80.00% |
Loans | $ 1,753,080 |
Non-QM loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans | 958,099 |
Transitional loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans | 53,272 |
Single-family rental loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans | 201,563 |
Seasoned performing loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans | $ 79,465 |
Multi-Family Transitional Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Weighted Average LTV Ratio | 64.00% | 64.00%
Loans | $ 699,000 | $ 632,300
Financing Receivable, Weighted Average Term To Maturity | 16 months | 18 months
Settled Whole Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Total Purchased Performing Loans | $ 6,579,108 | $ 6,273,743
Unpaid Principal Balance (“UPB”) | $ 6,921,980 | $ 6,741,786
Weighted Average Coupon | 5.96% | 5.78%
Weighted Average Term to Maturity (Months) | 265 months | 271 months
60+ Delinquency % | 3.10% | 3.10%
Settled Whole Loans | Non-QM loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Total Purchased Performing Loans | $ 3,452,086 | $ 3,352,471
Unpaid Principal Balance (“UPB”) | $ 3,683,664 | $ 3,671,468
Weighted Average Coupon | 5.22% | 5.13%
Weighted Average Term to Maturity (Months) | 349 months | 351 months
Weighted Average LTV Ratio | 65.00% | 65.00%
Weighted Average Original FICO | 735 | 733
60+ Delinquency % | 2.70% | 2.60%
Settled Whole Loans | Non-QM loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 3,508,600 | $ 3,520,671
Settled Whole Loans | Non-QM loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 74,897 | 56,825
Settled Whole Loans | Non-QM loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 38,599 | 32,253
Settled Whole Loans | Non-QM loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 61,568 | 61,719
Settled Whole Loans | Transitional loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Total Purchased Performing Loans | 1,521,279 | 1,411,997
Unpaid Principal Balance (“UPB”) | $ 1,537,094 | $ 1,431,692
Weighted Average Coupon | 8.07% | 7.78%
Weighted Average Term to Maturity (Months) | 11 months | 12 months
Weighted Average LTV Ratio | 65.00% | 66.00%
Weighted Average Original FICO | 746 | 746
60+ Delinquency % | 4.80% | 5.30%
Settled Whole Loans | Transitional loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 1,449,593 | $ 1,348,815
Settled Whole Loans | Transitional loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 14,063 | 6,463
Settled Whole Loans | Transitional loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 7,522 | 2,234
Settled Whole Loans | Transitional loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 65,916 | 74,180
Settled Whole Loans | Single-family rental loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Total Purchased Performing Loans | 1,465,469 | 1,375,297
Unpaid Principal Balance (“UPB”) | $ 1,542,253 | $ 1,485,967
Weighted Average Coupon | 5.87% | 5.74%
Weighted Average Term to Maturity (Months) | 322 months | 324 months
Weighted Average LTV Ratio | 69.00% | 69.00%
Weighted Average Original FICO | 737 | 737
60+ Delinquency % | 2.60% | 2.40%
Settled Whole Loans | Single-family rental loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 1,492,800 | $ 1,442,095
Settled Whole Loans | Single-family rental loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 10,113 | 8,431
Settled Whole Loans | Single-family rental loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 5,527 | 7,978
Settled Whole Loans | Single-family rental loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 33,813 | 27,463
Settled Whole Loans | Seasoned performing loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Total Purchased Performing Loans | 79,420 | 82,884
Unpaid Principal Balance (“UPB”) | $ 87,079 | $ 90,843
Weighted Average Coupon | 3.69% | 3.31%
Weighted Average Term to Maturity (Months) | 149 months | 151 months
Weighted Average LTV Ratio | 30.00% | 30.00%
Weighted Average Original FICO | 724 | 714
60+ Delinquency % | 5.20% | 5.90%
Settled Whole Loans | Seasoned performing loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 81,207 | $ 84,514
Settled Whole Loans | Seasoned performing loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 1,386 | 993
Settled Whole Loans | Seasoned performing loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 617 | 937
Settled Whole Loans | Seasoned performing loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 3,869 | 4,399
Settled Whole Loans | Agency eligible investor loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Total Purchased Performing Loans | 60,854 | 51,094
Unpaid Principal Balance (“UPB”) | $ 71,890 | $ 61,816
Weighted Average Coupon | 3.46% | 3.44%
Weighted Average Term to Maturity (Months) | 341 months | 344 months
Weighted Average LTV Ratio | 67.00% | 68.00%
Weighted Average Original FICO | 757 | 757
60+ Delinquency % | 0.70% | 0.00%
Settled Whole Loans | Agency eligible investor loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 70,739 | $ 61,816
Settled Whole Loans | Agency eligible investor loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 661 | 0
Settled Whole Loans | Agency eligible investor loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 0 | 0
Settled Whole Loans | Agency eligible investor loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 490 | 0
Settled Whole Loans | Purchased Credit Deteriorated Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Total Purchased Performing Loans | 439,775 | 448,887
Unpaid Principal Balance (“UPB”) | $ 543,594 | $ 554,907
Weighted Average Coupon | 4.71% | 4.66%
Weighted Average Term to Maturity (Months) | 275 months | 277 months
Weighted Average LTV Ratio | 63.00% | 63.00%
60+ Delinquency % | 19.20% | 18.70%
Settled Whole Loans | Purchased Credit Deteriorated Loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 394,389 | $ 403,042
Settled Whole Loans | Purchased Credit Deteriorated Loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 44,939 | 48,107
Settled Whole Loans | Purchased Credit Deteriorated Loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 18,057 | 16,270
Settled Whole Loans | Purchased Credit Deteriorated Loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 86,209 | 87,488
Settled Whole Loans | Purchased Non-Performing Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Total Purchased Performing Loans | 775,367 | 796,109
Unpaid Principal Balance (“UPB”) | $ 857,388 | $ 884,257
Weighted Average Coupon | 5.07% | 5.01%
Weighted Average Term to Maturity (Months) | 275 months | 277 months
Weighted Average LTV Ratio | 67.00% | 68.00%
60+ Delinquency % | 37.90% | 39.60%
Settled Whole Loans | Purchased Non-Performing Loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 443,433 | $ 444,045
Settled Whole Loans | Purchased Non-Performing Loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 89,259 | 89,623
Settled Whole Loans | Purchased Non-Performing Loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 35,820 | 40,554
Settled Whole Loans | Purchased Non-Performing Loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 288,876 | 310,035
Settled Whole Loans | Residential whole loans, total or weighted average |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Total Purchased Performing Loans | 7,794,250 | 7,518,739
Unpaid Principal Balance (“UPB”) | $ 8,322,962 | $ 8,180,950
Weighted Average Coupon | 5.80% | 5.64%
Weighted Average Term to Maturity (Months) | 267 months | 272 months
60+ Delinquency % | 7.80% | 8.10%
Settled Whole Loans | Certain rehabilitation loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Weighted Average LTV Ratio | 69.00% | 70.00%
Transitional loans | Certain rehabilitation loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Securitization of eligible investor loans | $ 223,000 | $ 223,200

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