XML 108 R98.htm IDEA: XBRL DOCUMENT
v3.22.2

Interest income and interest expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021
Interest income |  |  |  |
Total loans | $ 143,320 | $ 94,135 | $ 261,020 | $ 161,644
Total loans, held for sale, at fair value | 4,765 | 3,888 | 9,136 | 6,618
Total Paycheck Protection Program loans | 3,612 |  | 4,219 |
Mortgage backed securities, at fair value | 1,974 | 5,024 | 3,701 | 8,156
Total interest income | 153,671 | 103,047 | 278,076 | 176,418
Interest expense |  |  |  |
Secured borrowings | (28,147) | (18,065) | (47,770) | (35,639)
Paycheck Protection Program Liquidity Facility borrowings | (459) | (1,545) | (1,147) | (1,879)
Securitized debt obligations of consolidated VIEs | (33,804) | (21,421) | (58,055) | (40,514)
Guaranteed loan financing | (3,186) | (3,472) | (6,271) | (7,123)
Senior secured note | (4,380) | (3,456) | (8,737) | (6,915)
Convertible note | (2,188) | (2,188) | (4,376) | (4,376)
Corporate debt | (8,663) | (5,268) | (15,488) | (9,730)
Total interest expense | (80,827) | (55,415) | (141,844) | (106,176)
Net interest income before provision for loan losses | 72,844 | 47,632 | 136,232 | 70,242
Bridge |  |  |  |
Interest income |  |  |  |
Total loans | 82,499 | 32,221 | 147,479 | 57,289
Fixed rate |  |  |  |
Interest income |  |  |  |
Total loans | 14,468 | 14,258 | 28,939 | 28,688
Total loans, held for sale, at fair value | 2,236 |  | 4,293 |
Freddie Mac |  |  |  |
Interest income |  |  |  |
Total loans, held for sale, at fair value | 307 | 728 | 499 | 1,332
Construction |  |  |  |
Interest income |  |  |  |
Total loans | 7,243 |  | 9,000 |
SBA 7(a) |  |  |  |
Interest income |  |  |  |
Total loans | 9,742 | 9,777 | 19,121 | 18,318
Paycheck Protection Program loans, held for investment |  |  |  |
Interest income |  |  |  |
Total loans | 19,282 | 26,355 | 36,140 | 33,247
Residential |  |  |  |
Interest income |  |  |  |
Total loans | 31 | 62 | 50 | 122
Total loans, held for sale, at fair value | 2,198 | 3,160 | 4,298 | 5,286
Other |  |  |  |
Interest income |  |  |  |
Total loans | 10,055 | $ 11,462 | 20,291 | $ 23,980
Total loans, held for sale, at fair value | $ 24 |  | $ 46 |

X
- Definition The amount of interest and fee income earned from loans under the Paycheck Protection Program. + References No definition available. + Details
Name: | rc_InterestAndFeeIncomePaycheckProtectionProgramLoans
Namespace Prefix: | rc_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Interest expense incurred during the reporting period on convertible note. + References No definition available. + Details
Name: | rc_InterestExpenseConvertibleNote
Namespace Prefix: | rc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Interest expense incurred during the reporting period on Corporate Debt. + References No definition available. + Details
Name: | rc_InterestExpenseCorporateDebt
Namespace Prefix: | rc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Interest expense related to Paycheck Protection Program Liquidity Facility borrowings. + References No definition available. + Details
Name: | rc_InterestExpensePaycheckProtectionProgramLiquidityFinancingBorrowings
Namespace Prefix: | rc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Aggregate amount of interest expense on senior secured note. + References No definition available. + Details
Name: | rc_InterestExpenseSeniorSecuredNote
Namespace Prefix: | rc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition This element represents interest incurred for borrowed money which was used to produce goods or render services. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 + Details
Name: | us-gaap_FinancingInterestExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.1-5) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 + Details
Name: | us-gaap_InterestAndDividendIncomeOperating
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InterestAndDividendIncomeOperatingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.1) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 + Details
Name: | us-gaap_InterestAndFeeIncomeLoansAndLeases
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The amount of interest and fee income earned from loans held-for-sale, including mortgage loans, and interest earned from direct financing and sales-type leases held-for-sale. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.1) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 + Details
Name: | us-gaap_InterestAndFeeIncomeLoansAndLeasesHeldForSale
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of the cost of borrowed funds accounted for as interest expense. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28555-108399 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (210.5-03(11)) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.9) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 + Details
Name: | us-gaap_InterestExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InterestExpenseAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Interest expense on beneficial interests issued by consolidated variable interest entities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.7,8) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 + Details
Name: | us-gaap_InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The aggregate interest expense incurred on short-term borrowings including commercial paper and Federal funds purchased and securities sold under agreements to repurchase. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.7) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1402 -Paragraph (b) -Subparagraph (1) Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1402 -Paragraph (a) + Details
Name: | us-gaap_InterestExpenseShortTermBorrowings
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The net amount of operating interest income (expense). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.10) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 + Details
Name: | us-gaap_InterestIncomeExpenseNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of operating interest income, including amortization and accretion of premiums and discounts, on securitized, pass-through debt securities collateralized by real estate mortgage loans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.2) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 + Details
Name: | us-gaap_InterestIncomeSecuritiesMortgageBacked
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Details
Name: | us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_BridgeLoanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=rc_FixedRateLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=rc_OriginatedFreddieLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_ConstructionLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=rc_OriginatedSba7LoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=rc_OriginatedPaycheckProtectionProgramLoansHeldForInvestmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=rc_ResidentialLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=rc_OtherLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |