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Real Estate Securities - Trading Securities by Collateral Type (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
--- | --- | --- | ---
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021
Investment Holdings [Line Items] |  |  |  |  |
Real estate securities, at fair value | $ 116,933 |  | $ 116,933 |  | $ 170,619
Unpaid principal balance | 220,888 |  | 220,888 |  | 235,306
Principal balance of securities acquired (1) | 0 | $ 10,750 | 0 | $ 28,380 |
Principal balance of securities sold (1) | 0 | 750 | 12,716 | 53,561 |
Net market valuation gains (losses) recorded | (12,521) | 1,578 | (30,019) | 24,725 |
Securities bought and sold during the same quarter |  | $ 1,000 |  | $ 3,000 |
Senior IO Securities |  |  |  |  |
Investment Holdings [Line Items] |  |  |  |  |
Real estate securities, at fair value | 28,860 |  | 28,860 |  | 21,787
Unpaid principal balance | 0 |  | 0 |  | 0
Subordinate |  |  |  |  |
Investment Holdings [Line Items] |  |  |  |  |
Real estate securities, at fair value | 88,073 |  | 88,073 |  | 148,832
Unpaid principal balance | 220,888 |  | 220,888 |  | 235,306
Interest Only Senior Trading Securities | Senior IO Securities |  |  |  |  |
Investment Holdings [Line Items] |  |  |  |  |
Real estate securities, at fair value | 28,860 |  | 28,860 |  | 21,787
Interest Only Senior Trading Securities | Senior IO Securities | Sequoia |  |  |  |  |
Investment Holdings [Line Items] |  |  |  |  |
Real estate securities, at fair value | 25,000 |  | 25,000 |  | 15,000
RPL securities | Subordinate |  |  |  |  |
Investment Holdings [Line Items] |  |  |  |  |
Real estate securities, at fair value | 31,963 |  | 31,963 |  | 65,140
Consolidated Agency multifamily loans, at fair value | Subordinate |  |  |  |  |
Investment Holdings [Line Items] |  |  |  |  |
Real estate securities, at fair value | 8,021 |  | 8,021 |  | 10,549
Other third-party residential securities | Subordinate |  |  |  |  |
Investment Holdings [Line Items] |  |  |  |  |
Real estate securities, at fair value | $ 48,089 |  | $ 48,089 |  | $ 73,143

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