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Real Estate Securities - Carrying Value of AFS Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019
--- | --- | ---
Debt Securities, Available-for-sale [Line Items] |  |
Principal balance | $ 283,284 | $ 304,077
Credit reserve | (44,967) | (32,940)
Unamortized discount, net | (95,718) | (124,255)
Amortized cost | 142,599 | 146,882
Gross unrealized gains | 77,294 | 92,481
Gross unrealized losses | (1,047) | (29)
CECL credit allowance | (388) | 0
Carrying Value | 218,458 | 239,334
Senior IO Securities |  |
Debt Securities, Available-for-sale [Line Items] |  |
Principal balance | 0 | 26,331
Credit reserve | 0 | (533)
Unamortized discount, net | 0 | (10,427)
Amortized cost | 0 | 15,371
Gross unrealized gains | 0 | 10,450
Gross unrealized losses | 0 | (29)
CECL credit allowance | 0 |
Carrying Value | 0 | 25,792
Mezzanine |  |
Debt Securities, Available-for-sale [Line Items] |  |
Principal balance | 2,000 | 13,512
Credit reserve | 0 | 0
Unamortized discount, net | 0 | (527)
Amortized cost | 2,000 | 12,985
Gross unrealized gains | 14 | 702
Gross unrealized losses | 0 | 0
CECL credit allowance | 0 |
Carrying Value | 2,014 | 13,687
Subordinate Securities |  |
Debt Securities, Available-for-sale [Line Items] |  |
Principal balance | 281,284 | 264,234
Credit reserve | (44,967) | (32,407)
Unamortized discount, net | (95,718) | (113,301)
Amortized cost | 140,599 | 118,526
Gross unrealized gains | 77,280 | 81,329
Gross unrealized losses | (1,047) | 0
CECL credit allowance | (388) |
Carrying Value | $ 216,444 | $ 199,855

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- Definition Amount, before tax, of unrealized gain in accumulated other comprehensive income (AOCI) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27161-111563 + Details
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