XML 57 R46.htm IDEA: XBRL DOCUMENT v3.25.3
Residential Whole Loans - Residential Whole Loans, at Carrying and Fair Value (Details)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
USD ($)
loan
Jun. 30, 2025
USD ($)
Mar. 31, 2025
USD ($)
Sep. 30, 2024
USD ($)
Jun. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
Sep. 30, 2025
USD ($)
loan
Sep. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
loan
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Residential whole loans [1],[2] $ 8,813,834           $ 8,813,834   $ 8,811,224
Residential whole loans                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Allowance for Credit Losses (10,083)           (10,083)   (10,665)
Total Residential whole loans $ 8,813,834           $ 8,813,834   $ 8,811,224
Number of loans | loan 23,716           23,716   24,170
Gain (loss) from sale of loans       $ 100 $ 200        
Residential whole loans | Held at Carrying Value                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses $ 1,139,052           $ 1,139,052    
Allowance for Credit Losses (10,083)           (10,083)   $ (10,665)
Total Residential whole loans $ 1,128,969           $ 1,128,969   $ 1,300,014
Number of loans | loan 5,069           5,069   5,582
Residential whole loans | Held at Fair Value                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses $ 7,684,865           $ 7,684,865    
Allowance for Credit Losses 0           0   $ 0
Total Residential whole loans $ 7,684,865           $ 7,684,865   $ 7,511,210
Number of loans | loan 18,647           18,647   18,588
Residential whole loans | Non-QM loans                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses $ 5,122,926           $ 5,122,926   $ 4,291,086
Total Residential whole loans 5,120,744           5,120,744   4,288,961
Residential whole loans | Non-QM loans | Held at Carrying Value                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 615,461           615,461   722,392
Residential whole loans | Non-QM loans | Held at Fair Value                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 4,507,465           4,507,465   3,568,694
Residential whole loans | Business purpose loans                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 2,642,818           2,642,818   3,396,181
Total Residential whole loans 2,640,929           2,640,929   3,394,426
Residential whole loans | Business purpose loans | Held at Carrying Value                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 99,074           99,074   130,633
Residential whole loans | Business purpose loans | Held at Fair Value                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 2,543,744           2,543,744   3,265,548
Residential whole loans | Business purpose loans | Single-family rental loans                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 1,246,595           1,246,595   1,356,400
Total Residential whole loans 1,245,766           1,245,766   1,356,034
Loans held for sale 0           0   0
Gain (loss) from sale of loans (200) $ (100) $ 700            
Residential whole loans | Business purpose loans | Single-family rental loans | Held for sale                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Gain (loss) from sale of loans       $ 0 $ 0 $ 500 0    
Residential whole loans | 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 92,023           92,023   108,203
Residential whole loans | 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 1,154,572           1,154,572   1,248,197
Residential whole loans | Business purpose loans | Single-family transitional loans                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 792,079           792,079   1,100,855
Total Residential whole loans 791,019           791,019   1,099,466
Loans held for sale 0           0   0
Residential whole loans | Business purpose loans | Single-family transitional loans | Held for sale                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Gain (loss) from sale of loans 0 $ (300)           $ 0  
Loss from changes in fair value     $ 500            
Residential whole loans | Business purpose loans | Single-family transitional loans | New Construction Projects                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 323,000           323,000   442,400
Residential whole loans | Business purpose loans | Single-family transitional loans | Held at Carrying Value                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 7,051           7,051   22,430
Residential whole loans | Business purpose loans | Single-family transitional loans | Held at Fair Value                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 785,028           785,028   1,078,425
Residential whole loans | Business purpose loans | Multifamily transitional loans                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 604,144           604,144   938,926
Total Residential whole loans 604,144           604,144   938,926
Residential whole loans | 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   0
Residential whole loans | 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 604,144           604,144   938,926
Residential whole loans | Legacy RPL/NPL loans                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 1,006,236           1,006,236   1,082,549
Total Residential whole loans 1,000,224           1,000,224   1,075,764
Residential whole loans | Legacy RPL/NPL loans | Held at Carrying Value                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 424,517           424,517   457,654
Residential whole loans | Legacy RPL/NPL loans | Held at Fair Value                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 581,719           581,719   624,895
Residential whole loans | Other loans                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 51,937           51,937   52,073
Total Residential whole loans 51,937           51,937   52,073
Residential whole loans | Other loans | Held at Carrying Value                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses 0           0   0
Residential whole loans | Other loans | Held at Fair Value                  
Accounts, Notes, Loans and Financing Receivable [Line Items]                  
Total Loans before allowance for credit losses $ 51,937           $ 51,937   $ 52,073
[1] Includes approximately $7.6 billion and $6.9 billion of Residential whole loans transferred to consolidated variable interest entities (“VIEs”) at September 30, 2025 and December 31, 2024, 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.