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Residential Whole Loans - Residential Whole Loans, at Carrying Value, Additional Information (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2023 | Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
LTV ratio (as a percent) | 80.00% |
Loans | $ 1,606,204 |
Non-QM loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans | 873,791 |
Transitional loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans | 37,946 |
Single-family rental loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans | 182,879 |
Seasoned performing loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans | $ 72,675 |
Multi-Family Transitional Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
LTV ratio (as a percent) | 64.00% | 73.00%
Loans | $ 1,000,000 | $ 632,300
Weighted Average Term to Maturity (Months) | 15 months | 18 months
Settled Whole Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair Value / Carrying Value | $ 7,306,094 | $ 6,273,743
Unpaid Principal Balance (“UPB”) | $ 7,884,912 | $ 6,741,786
Weighted Average Coupon ( as a percent) | 6.56% | 5.78%
Weighted Average Term to Maturity (Months) | 249 months | 271 months
60+ Delinquency % | 3.10% | 3.10%
Settled Whole Loans | Non-QM loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair Value / Carrying Value | $ 3,570,184 | $ 3,352,471
Unpaid Principal Balance (“UPB”) | $ 3,963,235 | $ 3,671,468
Weighted Average Coupon ( as a percent) | 5.60% | 5.13%
Weighted Average Term to Maturity (Months) | 346 months | 351 months
LTV ratio (as a percent) | 65.00% | 65.00%
Weighted Average Original FICO | 735 | 733
60+ Delinquency % | 2.20% | 2.60%
Settled Whole Loans | Non-QM loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 3,808,303 | $ 3,520,671
Settled Whole Loans | Non-QM loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 68,171 | 56,825
Settled Whole Loans | Non-QM loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 23,230 | 32,253
Settled Whole Loans | Non-QM loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 63,531 | 61,719
Settled Whole Loans | Transitional loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair Value / Carrying Value | 2,095,083 | 1,411,997
Unpaid Principal Balance (“UPB”) | $ 2,105,552 | $ 1,431,692
Weighted Average Coupon ( as a percent) | 8.89% | 7.78%
Weighted Average Term to Maturity (Months) | 11 months | 12 months
LTV ratio (as a percent) | 64.00% | 66.00%
Weighted Average Original FICO | 746 | 746
60+ Delinquency % | 4.30% | 5.30%
Settled Whole Loans | Transitional loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 1,989,050 | $ 1,348,815
Settled Whole Loans | Transitional loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 25,717 | 6,463
Settled Whole Loans | Transitional loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 15,771 | 2,234
Settled Whole Loans | Transitional loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 75,014 | 74,180
Settled Whole Loans | Single-family rental loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair Value / Carrying Value | 1,515,032 | 1,375,297
Unpaid Principal Balance (“UPB”) | $ 1,667,902 | $ 1,485,967
Weighted Average Coupon ( as a percent) | 6.16% | 5.74%
Weighted Average Term to Maturity (Months) | 321 months | 324 months
LTV ratio (as a percent) | 68.00% | 69.00%
Weighted Average Original FICO | 737 | 737
60+ Delinquency % | 3.80% | 2.40%
Settled Whole Loans | Single-family rental loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 1,586,313 | $ 1,442,095
Settled Whole Loans | Single-family rental loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 17,947 | 8,431
Settled Whole Loans | Single-family rental loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 28,249 | 7,978
Settled Whole Loans | Single-family rental loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 35,393 | 27,463
Settled Whole Loans | Seasoned performing loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair Value / Carrying Value | 72,647 | 82,884
Unpaid Principal Balance (“UPB”) | $ 79,751 | $ 90,843
Weighted Average Coupon ( as a percent) | 4.38% | 3.31%
Weighted Average Term to Maturity (Months) | 145 months | 151 months
LTV ratio (as a percent) | 28.00% | 30.00%
Weighted Average Original FICO | 725 | 714
60+ Delinquency % | 4.30% | 5.90%
Settled Whole Loans | Seasoned performing loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 75,016 | $ 84,514
Settled Whole Loans | Seasoned performing loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 1,271 | 993
Settled Whole Loans | Seasoned performing loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 911 | 937
Settled Whole Loans | Seasoned performing loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 2,553 | 4,399
Settled Whole Loans | Agency eligible investor loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair Value / Carrying Value | 53,148 | 51,094
Unpaid Principal Balance (“UPB”) | $ 68,472 | $ 61,816
Weighted Average Coupon ( as a percent) | 3.44% | 3.44%
Weighted Average Term to Maturity (Months) | 335 months | 344 months
LTV ratio (as a percent) | 66.00% | 68.00%
Weighted Average Original FICO | 757 | 757
60+ Delinquency % | 0.30% | 0.00%
Settled Whole Loans | Agency eligible investor loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 68,244 | $ 61,816
Settled Whole Loans | Agency eligible investor loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 0 | 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 | 228 | 0
Settled Whole Loans | Purchased Credit Deteriorated Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair Value / Carrying Value | 418,312 | 448,887
Unpaid Principal Balance (“UPB”) | $ 517,611 | $ 554,907
Weighted Average Coupon ( as a percent) | 4.79% | 4.66%
Weighted Average Term to Maturity (Months) | 270 months | 277 months
LTV ratio (as a percent) | 59.00% | 63.00%
60+ Delinquency % | 16.80% | 18.70%
Settled Whole Loans | Purchased Credit Deteriorated Loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 389,166 | $ 403,042
Settled Whole Loans | Purchased Credit Deteriorated Loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 41,615 | 48,107
Settled Whole Loans | Purchased Credit Deteriorated Loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 14,018 | 16,270
Settled Whole Loans | Purchased Credit Deteriorated Loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 72,812 | 87,488
Settled Whole Loans | Purchased Non-Performing Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair Value / Carrying Value | 699,810 | 796,109
Unpaid Principal Balance (“UPB”) | $ 798,902 | $ 884,257
Weighted Average Coupon ( as a percent) | 5.17% | 5.01%
Weighted Average Term to Maturity (Months) | 272 months | 277 months
LTV ratio (as a percent) | 63.00% | 68.00%
60+ Delinquency % | 31.70% | 39.60%
Settled Whole Loans | Purchased Non-Performing Loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 449,936 | $ 444,045
Settled Whole Loans | Purchased Non-Performing Loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 95,456 | 89,623
Settled Whole Loans | Purchased Non-Performing Loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 28,310 | 40,554
Settled Whole Loans | Purchased Non-Performing Loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 225,200 | 310,035
Settled Whole Loans | Residential whole loans, total or weighted average |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair Value / Carrying Value | 8,424,216 | 7,518,739
Unpaid Principal Balance (“UPB”) | $ 9,201,425 | $ 8,180,950
Weighted Average Coupon ( as a percent) | 5.87% | 5.64%
Weighted Average Term to Maturity (Months) | 244 months | 272 months
60+ Delinquency % | 6.40% | 8.10%
Settled Whole Loans | Certain rehabilitation loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
LTV ratio (as a percent) | 69.00% | 70.00%
Transitional loans | Certain rehabilitation loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Securitization of eligible investor loans | $ 423,600 | $ 223,200

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