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v3.25.1

Residential Whole Loans - Additional Credit Related Information (Details) - Residential whole loans - USD ($) $ in Thousands | 3 Months Ended |
--- | --- | ---
Mar. 31, 2025 | Dec. 31, 2024
Business purpose loans |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |
Total | $ 3,139,060 | $ 3,396,181
Non-QM loans |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |
Total | 4,540,553 | 4,291,086
Legacy RPL/NPL loans |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |
Total | 1,061,802 | 1,082,549
Carrying Value |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |
2025 - 2022 | 0 |
2021 | 44,343 |
Prior | 1,218,142 |
Total | 1,262,485 |
Gross write-offs, 2025 - 2022 | 0 |
Gross write-offs, 2021 | 0 |
Gross write-offs, prior | 615 |
Gross write-offs | 615 |
Carrying Value | Debt-to-Value Ratio, Less Than 80 Percent |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |
2025 - 2022 | 0 |
2021 | 42,334 |
Prior | 1,155,575 |
Total | 1,197,910 |
Carrying Value | Debt-to-Value Ratio, Greater Than 80 Percent |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |
2025 - 2022 | 0 |
2021 | 2,009 |
Prior | 62,566 |
Total | 64,575 |
Carrying Value | Business purpose loans |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |
2025 - 2022 | 0 |
2021 | 6,670 |
Prior | 113,046 |
Total | 119,716 | 130,633
Gross write-offs, 2025 - 2022 | 0 |
Gross write-offs, 2021 | 0 |
Gross write-offs, prior | 436 |
Gross write-offs | 436 |
Carrying Value | Business purpose loans | Debt-to-Value Ratio, Less Than 80 Percent |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |
2025 - 2022 | 0 |
2021 | 6,572 |
Prior | 108,303 |
Total | 114,875 |
Carrying Value | Business purpose loans | Debt-to-Value Ratio, Greater Than 80 Percent |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |
2025 - 2022 | 0 |
2021 | 98 |
Prior | 4,743 |
Total | 4,841 |
Carrying Value | Non-QM loans |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |
2025 - 2022 | 0 |
2021 | 37,673 |
Prior | 657,850 |
Total | 695,523 | 722,392
Gross write-offs, 2025 - 2022 | 0 |
Gross write-offs, 2021 | 0 |
Gross write-offs, prior | 0 |
Gross write-offs | 0 |
Carrying Value | Non-QM loans | Debt-to-Value Ratio, Less Than 80 Percent |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |
2025 - 2022 | 0 |
2021 | 35,762 |
Prior | 649,632 |
Total | 685,394 |
Carrying Value | Non-QM loans | Debt-to-Value Ratio, Greater Than 80 Percent |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |
2025 - 2022 | 0 |
2021 | 1,911 |
Prior | 8,218 |
Total | 10,129 |
Carrying Value | Legacy RPL/NPL loans |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |
2025 - 2022 | 0 |
2021 | 0 |
Prior | 447,246 |
Total | 447,246 | $ 457,654
Gross write-offs, 2025 - 2022 | 0 |
Gross write-offs, 2021 | 0 |
Gross write-offs, prior | 179 |
Gross write-offs | 179 |
Carrying Value | Legacy RPL/NPL loans | Debt-to-Value Ratio, Less Than 80 Percent |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |
2025 - 2022 | 0 |
2021 | 0 |
Prior | 397,641 |
Total | 397,641 |
Carrying Value | Legacy RPL/NPL loans | Debt-to-Value Ratio, Greater Than 80 Percent |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |
2025 - 2022 | 0 |
2021 | 0 |
Prior | 49,605 |
Total | $ 49,605 |

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