XML 61 R50.htm IDEA: XBRL DOCUMENT v3.24.3
Residential Whole Loans - Allowance for Credit Losses (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Dec. 31, 2023
Unfunded Loan Commitment                
Financing Receivable, Allowance for Credit Loss [Roll Forward]                
Ending balance $ 0     $ 38     $ 0  
Commitment to lend, unfunded 1,600     5,400     1,600  
Residential whole loan                
Financing Receivable, Allowance for Credit Loss [Roll Forward]                
Beginning balance 13,271 $ 19,612 $ 20,451 31,035 $ 33,062 $ 35,314 20,451  
Current provision/(reversal) (1,942) (1,079) (460) (1,252) 265 315    
Write-offs (672) (5,262) (379) (1,226) (2,292) (2,567)    
Ending balance 10,657 13,271 19,612 28,557 31,035 33,062 10,657  
Residential whole loan | Business purpose loans                
Financing Receivable, Allowance for Credit Loss [Roll Forward]                
Loans 3,684,042           3,684,042 $ 3,996,292
Residential whole loan | Business purpose loans | Single-family transitional loans                
Financing Receivable, Allowance for Credit Loss [Roll Forward]                
Beginning balance 1,301 1,699 2,588 2,840 3,626 5,223 2,588  
Current provision/(reversal) 48 (317) (473) 559 999 406    
Write-offs (181) (81) (416) (881) (1,785) (2,003)    
Ending balance 1,168 1,301 1,699 2,518 2,840 3,626 1,168  
Residential whole loan | Business purpose loans | Single-family transitional loans | Collateral Dependent Methodology                
Financing Receivable, Allowance for Credit Loss [Roll Forward]                
Loans 18,900     28,700     18,900  
Residential whole loan | Business purpose loans | Single-family rental loans                
Financing Receivable, Allowance for Credit Loss [Roll Forward]                
Beginning balance 609 4,642 4,355 1,237 1,340 1,277 4,355  
Current provision/(reversal) 205 978 228 329 (103) 514    
Write-offs (439) (5,011)   (235) 0 (451)    
Write-offs     59          
Ending balance 375 609 4,642 1,331 1,237 1,340 375  
Loans 1,473,062           1,473,062 1,634,796
Residential whole loan | Non-QM loans                
Financing Receivable, Allowance for Credit Loss [Roll Forward]                
Beginning balance 1,355 1,681 1,870 6,706 7,145 7,359 1,870  
Current provision/(reversal) 387 (326) (189) (2,627) (233) (214)    
Write-offs 0 0 0 0 (206) 0    
Ending balance 1,742 1,355 1,681 4,079 6,706 7,145 1,742  
Loans 4,172,797           4,172,797 3,805,577
Residential whole loan | Legacy RPL/NPL loans                
Financing Receivable, Allowance for Credit Loss [Roll Forward]                
Beginning balance 10,006 11,590 11,638 20,252 20,951 21,455 11,638  
Current provision/(reversal) (2,582) (1,414) (26) 487 (398) (391)    
Write-offs (52) (170) (22) (110) (301) (113)    
Ending balance 7,372 $ 10,006 $ 11,590 20,629 $ 20,252 $ 20,951 7,372  
Loans 1,125,280           1,125,280 $ 1,204,095
Residential whole loan | Legacy RPL/NPL loans | Collateral Dependent Methodology                
Financing Receivable, Allowance for Credit Loss [Roll Forward]                
Loans $ 39,300     $ 52,600     $ 39,300