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Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021
--- | --- | --- | --- | ---
Assets: |  |  |  |
Restricted cash | $ 17,703 | $ 16,808 | $ 14,533 |
Loans held for sale, at fair value | 19,536 |  |  |
Loans held for investment, net | 2,945,840 | 3,272,390 |  |
Loans held for investment, at fair value | 951,990 | 276,095 |  |
Mortgage servicing rights | 9,786 | 9,238 |  | $ 7,152
Derivative assets | 1,261 |  |  |
Liabilities: |  |  |  |
Secured financing, net | 210,774 | 209,846 |  |
Carrying Value |  |  |  |
Assets: |  |  |  |
Cash | 29,393 | 45,248 |  |
Restricted cash | 17,703 | 16,808 |  |
Loans held for sale, at fair value | 19,536 |  |  |
Loans held for investment, net | 2,945,840 | 3,272,390 |  |
Loans held for investment, at fair value | 951,990 | 276,095 |  |
Accrued interest receivables | 24,756 | 20,463 |  |
Mortgage servicing rights | 9,786 | 9,238 |  |
Derivative assets | 1,261 |  |  |
Liabilities: |  |  |  |
Secured financing, net | 210,774 | 209,846 |  |
Warehouse repurchase facilities, net | 215,176 | 330,814 |  |
Securitized debt, net | 2,504,334 | 2,736,290 |  |
Securitized debt, at fair value | 669,139 |  |  |
Accrued interest payable | 14,627 | 16,369 |  |
Estimate of Fair Value Measurement |  |  |  |
Assets: |  |  |  |
Cash | 29,393 | 45,248 |  |
Restricted cash | 17,703 | 16,808 |  |
Loans held for sale, at fair value | 19,536 |  |  |
Loans held for investment, net | 2,720,452 | 3,201,850 |  |
Loans held for investment, at fair value | 951,990 | 276,095 |  |
Accrued interest receivables | 24,756 | 20,463 |  |
Mortgage servicing rights | 9,786 | 9,238 |  |
Derivative assets | 1,261 |  |  |
Liabilities: |  |  |  |
Secured financing, net | 211,655 | 211,854 |  |
Warehouse repurchase facilities, net | 215,176 | 330,814 |  |
Securitized debt, net | 2,167,848 | 2,522,010 |  |
Securitized debt, at fair value | 669,139 |  |  |
Accrued interest payable | 14,627 | 16,369 |  |
Level 1 | Estimate of Fair Value Measurement |  |  |  |
Assets: |  |  |  |
Cash | 29,393 | 45,248 |  |
Restricted cash | 17,703 | 16,808 |  |
Accrued interest receivables | 24,756 | 20,463 |  |
Liabilities: |  |  |  |
Accrued interest payable | 14,627 | 16,369 |  |
Level 2 | Estimate of Fair Value Measurement |  |  |  |
Assets: |  |  |  |
Loans held for sale, at fair value | 19,536 |  |  |
Derivative assets | 1,261 |  |  |
Liabilities: |  |  |  |
Secured financing, net | 211,655 |  |  |
Warehouse repurchase facilities, net | 215,176 | 330,814 |  |
Securitized debt, net | 2,167,848 |  |  |
Securitized debt, at fair value | 669,139 |  |  |
Level 3 | Estimate of Fair Value Measurement |  |  |  |
Assets: |  |  |  |
Loans held for investment, net | 2,720,452 | 3,201,850 |  |
Loans held for investment, at fair value | 951,990 | 276,095 |  |
Mortgage servicing rights | $ 9,786 | 9,238 |  |
Liabilities: |  |  |  |
Secured financing, net |  | 211,854 |  |
Securitized debt, net |  | $ 2,522,010 |  |

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- Definition Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References No definition available. + Details
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- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. 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