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Residential Whole Loans - Residential Whole Loans, at Carrying and Fair Value (Details)
$ in Thousands
3 Months Ended
Jun. 30, 2024
USD ($)
loan
Mar. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
loan
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Residential whole loans [1],[2] $ 9,186,236   $ 9,041,292
Residential whole loan      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Allowance for Credit Losses (13,271)   (20,451)
Total Residential whole loans $ 9,186,236   $ 9,041,292
Number of loans | loan 25,821   25,401
Gain from sale of loans $ 200    
Residential whole loan | Held at Carrying Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 1,426,900    
Allowance for Credit Losses (13,271)   $ (20,451)
Total Residential whole loans $ 1,413,629   $ 1,529,784
Number of loans | loan 5,973   6,326
Residential whole loan | Held at Fair Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses $ 7,772,607    
Allowance for Credit Losses 0   $ 0
Total Residential whole loans $ 7,772,607   $ 7,511,508
Number of loans | loan 19,848   19,075
Residential whole loan | Business purpose loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses $ 4,017,444   $ 3,996,292
Total Residential whole loans 4,015,534   3,989,351
Residential whole loan | Business purpose loans | Held at Carrying Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 157,328   207,680
Residential whole loan | Business purpose loans | Held at Fair Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 3,860,116   3,788,612
Residential whole loan | Business purpose loans | Single family transitional      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 1,218,556   1,193,199
Residential whole loan | Business purpose loans | Single family transitional | New Construction Projects      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 476,900   471,100
Residential whole loan | Business purpose loans | Single family transitional | Held at Carrying Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 27,857   35,467
Residential whole loan | Business purpose loans | Single family transitional | Held at Fair Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 1,190,699   1,157,732
Residential whole loan | Business purpose loans | Multifamily transitional loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 1,155,198   1,168,297
Total Residential whole loans 1,155,198   1,168,297
Residential whole loan | Business purpose loans | Multifamily transitional loans | Held at Carrying Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 0   0
Residential whole loan | Business purpose loans | Multifamily transitional loans | Held at Fair Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 1,155,198   1,168,297
Residential whole loan | Business purpose loans | Single-family rental loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 1,643,690   1,634,796
Total Residential whole loans 1,643,081   1,630,442
Loans held for sale 0   13,600
Gain from sale of loans 0 $ 500  
Residential whole loan | Business purpose loans | Single-family rental loans | Held at Carrying Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 129,471   172,213
Residential whole loan | Business purpose loans | Single-family rental loans | Held at Fair Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 1,514,219   1,462,583
Residential whole loan | Non-QM loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 3,995,591   3,805,577
Total Residential whole loans 3,994,236   3,700,052
Residential whole loan | Non-QM loans | Held at Carrying Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 791,746   843,884
Residential whole loan | Non-QM loans | Held at Fair Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 3,203,845   2,961,693
Residential whole loan | Legacy RPL/NPL loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 1,133,056   1,204,095
Total Residential whole loans 1,123,050   1,192,457
Residential whole loan | Legacy RPL/NPL loans | Held at Carrying Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 477,826   498,671
Residential whole loan | Legacy RPL/NPL loans | Held at Fair Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 655,230   705,424
Residential whole loan | Other loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 53,416   55,779
Total Residential whole loans 53,416   55,779
Residential whole loan | Other loans | Held at Carrying Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses 0   0
Residential whole loan | Other loans | Held at Fair Value      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total loans before allowance for credit losses $ 53,416   $ 55,779
[1] Includes approximately $6.0 billion and $5.7 billion of Residential whole loans transferred to consolidated variable interest entities (“VIEs”) at June 30, 2024 and December 31, 2023, respectively. Such assets can be used only to settle the obligations of each respective VIE.
[2] See Note 6 for information regarding the Company’s pledged assets.