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Fair Value of Financial Instruments - Fair Value Methodology (Details) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($)
Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Purchased loans | $ 774,852 | $ 795,894
Purchases excluded from level 2 fair value | 515 | 215
Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Purchased loans | 5,238,011 | 4,880,321
Discounted cash flow | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Purchased loans | 538,661 | 546,675
Discounted cash flow | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Purchased loans | 5,196,080 | 4,857,587
Liquidation model | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Purchased loans | 236,191 | 249,219
Simple average amount | 455 | 457
Liquidation model | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Purchased loans | $ 41,931 | $ 22,734
Residential whole loans, at fair value | Level 3 | Liquidation model | Minimum | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Fair value inputs, annual change in home prices | (8.60%) | (5.40%)
Liquidation timeline (in years) | 1 month 6 days | 1 month 6 days
Fair value inputs, value of underlying property | $ 28 | $ 28
Residential whole loans, at fair value | Level 3 | Liquidation model | Minimum | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Fair value inputs, annual change in home prices | (3.60%) | (1.00%)
Liquidation timeline (in years) | 9 months 18 days | 9 months 18 days
Fair value inputs, value of underlying property | $ 44 | $ 50
Residential whole loans, at fair value | Level 3 | Liquidation model | Maximum | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Fair value inputs, annual change in home prices | 39.90% | 59.70%
Liquidation timeline (in years) | 4 years 6 months | 4 years 6 months
Fair value inputs, value of underlying property | $ 4,000 | $ 4,000
Residential whole loans, at fair value | Level 3 | Liquidation model | Maximum | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Fair value inputs, annual change in home prices | 9.50% | 10.70%
Liquidation timeline (in years) | 4 years 2 months 12 days | 4 years 2 months 12 days
Fair value inputs, value of underlying property | $ 2,850 | $ 2,850
Discount rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Minimum | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.060 | 0.063
Discount rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Minimum | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.062 | 0.056
Discount rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Maximum | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.103 | 0.100
Discount rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Maximum | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.191 | 0.227
Discount rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Weighted Average | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.067 | 0.070
Discount rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Weighted Average | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.074 | 0.076
Discount rate | Residential whole loans, at fair value | Level 3 | Liquidation model | Minimum | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.078 | 0.078
Discount rate | Residential whole loans, at fair value | Level 3 | Liquidation model | Minimum | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.078 | 0.078
Discount rate | Residential whole loans, at fair value | Level 3 | Liquidation model | Maximum | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.078 | 0.078
Discount rate | Residential whole loans, at fair value | Level 3 | Liquidation model | Maximum | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.078 | 0.078
Discount rate | Residential whole loans, at fair value | Level 3 | Liquidation model | Weighted Average | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.078 | 0.078
Discount rate | Residential whole loans, at fair value | Level 3 | Liquidation model | Weighted Average | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.078 | 0.078
Prepayment rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Minimum | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.000 | 0.000
Prepayment rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Minimum | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.000 | 0.000
Prepayment rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Maximum | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.326 | 0.335
Prepayment rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Maximum | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.425 | 0.448
Prepayment rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Weighted Average | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.094 | 0.089
Prepayment rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Weighted Average | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.089 | 0.079
Default rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Minimum | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.000 | 0.000
Default rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Minimum | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.000 | 0.000
Default rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Maximum | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.511 | 0.524
Default rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Maximum | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.277 | 0.194
Default rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Weighted Average | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.033 | 0.037
Default rate | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Weighted Average | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.008 | 0.008
Loss severity | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Minimum | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.000 | 0.000
Loss severity | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Minimum | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.000 | 0.000
Loss severity | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Maximum | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 1.000 | 1.000
Loss severity | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Maximum | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.204 | 1.000
Loss severity | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Weighted Average | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.113 | 0.113
Loss severity | Residential whole loans, at fair value | Level 3 | Discounted cash flow | Weighted Average | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Measurement input | 0.072 | 0.073
Annual change in home prices | Residential whole loans, at fair value | Level 3 | Liquidation model | Weighted Average | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Fair value inputs, annual change in home prices | 5.30% | 6.90%
Annual change in home prices | Residential whole loans, at fair value | Level 3 | Liquidation model | Weighted Average | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Fair value inputs, annual change in home prices | 2.30% | 3.20%
Liquidation timeline (in years) | Residential whole loans, at fair value | Level 3 | Liquidation model | Weighted Average | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Liquidation timeline (in years) | 1 year 10 months 24 days | 1 year 10 months 24 days
Liquidation timeline (in years) | Residential whole loans, at fair value | Level 3 | Liquidation model | Weighted Average | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Liquidation timeline (in years) | 1 year 10 months 24 days | 1 year 10 months 24 days
Current value of underlying properties | Residential whole loans, at fair value | Level 3 | Liquidation model | Weighted Average | Nonperforming |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Fair value inputs, value of underlying property | $ 738 | $ 743
Current value of underlying properties | Residential whole loans, at fair value | Level 3 | Liquidation model | Weighted Average | Performing |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Fair value inputs, value of underlying property | $ 1,238 | $ 1,319

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