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Real Estate Securities - Trading Securities by Collateral Type (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
--- | --- | --- | ---
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022
Debt and Equity Securities, FV-NI [Line Items] |  |  |  |  |
Real estate securities, at fair value | $ 69,323 |  | $ 69,323 |  | $ 108,329
Unpaid principal balance | 76,512 |  | 76,512 |  | 215,592
Fair value of securities acquired | 6,183 | $ 0 | 7,883 | $ 5,006 |
Fair value of securities sold | 51,578 | 23,329 | 55,087 | 23,329 |
Net market valuation gains (losses) recorded | 6,495 | $ (16,042) | 8,456 | $ (17,498) |
Senior Securities |  |  |  |  |
Debt and Equity Securities, FV-NI [Line Items] |  |  |  |  |
Real estate securities, at fair value | 38,064 |  | 38,064 |  | 28,867
Unpaid principal balance | 0 |  | 0 |  | 0
Subordinate |  |  |  |  |
Debt and Equity Securities, FV-NI [Line Items] |  |  |  |  |
Real estate securities, at fair value | 31,259 |  | 31,259 |  | 79,462
Unpaid principal balance | 76,512 |  | 76,512 |  | 215,592
Interest Only Senior Trading Securities | Senior Securities |  |  |  |  |
Debt and Equity Securities, FV-NI [Line Items] |  |  |  |  |
Real estate securities, at fair value | 38,064 |  | 38,064 |  | 28,867
Interest Only Senior Trading Securities | Senior Securities | Sequoia |  |  |  |  |
Debt and Equity Securities, FV-NI [Line Items] |  |  |  |  |
Real estate securities, at fair value | 26,000 |  | 26,000 |  | 26,000
RPL securities | Subordinate |  |  |  |  |
Debt and Equity Securities, FV-NI [Line Items] |  |  |  |  |
Real estate securities, at fair value | 11,884 |  | 11,884 |  | 29,002
Consolidated Agency multifamily loans, at fair value | Subordinate |  |  |  |  |
Debt and Equity Securities, FV-NI [Line Items] |  |  |  |  |
Real estate securities, at fair value | 4,993 |  | 4,993 |  | 5,027
Other third-party residential securities | Subordinate |  |  |  |  |
Debt and Equity Securities, FV-NI [Line Items] |  |  |  |  |
Real estate securities, at fair value | $ 14,382 |  | $ 14,382 |  | $ 45,433

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