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Residential Investor Loans - Schedule of Characteristics of Residential Investor Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2025 | Dec. 31, 2024
Unsecuritized Term | Residential Investor Term, Unsecuritized |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Unpaid principal balance ("UPB") | $ 187,001 | $ 177,618
Average UPB of loans | 1,989 | 1,759
Fair value of loans | $ 169,372 | $ 158,637
Weighted average coupon | 6.77% | 6.84%
Weighted average remaining loan term (years) | 10 years | 9 years
Market value of loans pledged as collateral under debt facilities | $ 110,136 | $ 120,417
Unpaid principal balance of loans with 90+ day delinquencies/Unpaid principal balance of loans in foreclosure | 0 | 27,529
Average UPB of 90+ days delinquent loans/Average UPB of loans in foreclosure | 0 | 27,529
Fair value of loans in foreclosure | 0 | 8,500
Unsecuritized Term | Financing Receivables, Equal to Greater than 90 Days Past Due | Residential Investor Term, Unsecuritized |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Fair value of loans | 18,469 | 12,366
Unpaid principal balance of loans with 90+ day delinquencies/Unpaid principal balance of loans in foreclosure | 39,865 | 33,065
Average UPB of 90+ days delinquent loans/Average UPB of loans in foreclosure | 7,973 | 8,266
Term at CAFL | Residential Investor Term, Securitized |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Unpaid principal balance ("UPB") | 2,539,929 | 2,639,485
Average UPB of loans | 3,140 | 3,084
Fair value of loans | $ 2,389,804 | $ 2,485,069
Weighted average coupon | 5.35% | 5.35%
Weighted average remaining loan term (years) | 4 years | 4 years
Unpaid principal balance of loans with 90+ day delinquencies/Unpaid principal balance of loans in foreclosure | $ 59,449 | $ 24,648
Average UPB of 90+ days delinquent loans/Average UPB of loans in foreclosure | 4,246 | 2,465
Term at CAFL | Financing Receivables, Equal to Greater than 90 Days Past Due | Residential Investor Term, Securitized |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Unpaid principal balance of loans with 90+ day delinquencies/Unpaid principal balance of loans in foreclosure | 212,275 | 194,143
Average UPB of 90+ days delinquent loans/Average UPB of loans in foreclosure | 4,332 | 3,734
Business Purpose Bridge Loans | Residential Investor Bridge, Unsecuritized |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Unpaid principal balance ("UPB") | 1,172,533 | 1,166,213
Average UPB of loans | 5,479 | 5,350
Fair value of loans | $ 1,111,276 | $ 1,120,281
Weighted average coupon | 9.14% | 9.11%
Weighted average remaining loan term (years) | 1 year | 1 year
Market value of loans pledged as collateral under debt facilities | $ 1,090,743 | $ 1,070,327
Unpaid principal balance of loans with 90+ day delinquencies/Unpaid principal balance of loans in foreclosure | 38,225 | 86,260
Average UPB of 90+ days delinquent loans/Average UPB of loans in foreclosure | 4,247 | 6,635
Fair value of loans in foreclosure | 27,257 | 67,858
Business Purpose Bridge Loans | Residential Investor Bridge, Securitized |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Unpaid principal balance ("UPB") | 759,903 | 810,285
Average UPB of loans | 1,692 | 1,605
Fair value of loans | $ 769,382 | $ 823,103
Weighted average coupon | 9.55% | 9.76%
Weighted average remaining loan term (years) | 1 year | 1 year
Unpaid principal balance of loans with 90+ day delinquencies/Unpaid principal balance of loans in foreclosure | $ 9,703 | $ 3,663
Average UPB of 90+ days delinquent loans/Average UPB of loans in foreclosure | 1,078 | 916
Business Purpose Bridge Loans | Financing Receivables, Equal to Greater than 90 Days Past Due | Residential Investor Bridge, Unsecuritized |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Fair value of loans | 202,982 | 102,321
Unpaid principal balance of loans with 90+ day delinquencies/Unpaid principal balance of loans in foreclosure | 243,288 | 129,229
Average UPB of 90+ days delinquent loans/Average UPB of loans in foreclosure | 13,516 | 8,077
Business Purpose Bridge Loans | Financing Receivables, Equal to Greater than 90 Days Past Due | Residential Investor Bridge, Securitized |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Unpaid principal balance of loans with 90+ day delinquencies/Unpaid principal balance of loans in foreclosure | 29,083 | 20,964
Average UPB of 90+ days delinquent loans/Average UPB of loans in foreclosure | $ 1,531 | $ 1,233

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