XML 92 R82.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Fair Value Measurements - Changes in Fair Value (Details) - Level 3 inputs - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021
Changes in fair value of assets |  |  |  |
Beginning Balance | $ 309,029 | $ 138,776 | $ 362,430 | $ 207,060
Purchases or Originations |  | (12,400) | 23,470 | (8,534)
Accreted discount, net |  |  | 1 | 60
Additions due to loans sold, servicing retained | 9,463 | 11,622 | 32,417 | 35,595
Sales / Principal payments | (8,669) | (12,938) | (49,452) | (86,258)
Realized gains (losses), net | (1) | (3,733) | (2,393) | (5)
Measurement Period Adjustment | 55,624 |  | 55,624 |
Merger |  |  | (67,295) |
Unrealized gains (losses), net | (3,624) |  | 13,885 | (2,012)
Transfer to (from) Level 3 | (1,649) | (191) | (4,652) | (24,770)
Transfer from loans, held-for-investment, net |  |  | (3,862) |
Ending Balance | 360,173 | 121,136 | 360,173 | 121,136
Contingent Consideration |  |  |  |
Changes in fair value of assets |  |  |  |
Unrealized gains (losses), net |  |  | (800) |
Changes in fair value of liabilities |  |  |  |
Beginning Balance | (92,548) |  | (16,400) |
Purchases or Originations |  | (12,400) |  | (12,400)
Sales / Principal payments |  |  | 9,000 |
Measurement Period Adjustment | 59,348 |  | 59,348 |
Merger |  |  | (84,348) |
Ending Balance | (33,200) | (12,400) | (33,200) | (12,400)
Mortgage backed securities |  |  |  |
Changes in fair value of assets |  |  |  |
Beginning Balance | 1,666 | 1,714 | 1,581 | 25,131
Accreted discount, net |  |  | 1 | 60
Sales / Principal payments |  |  | (1,352) | (92)
Realized gains (losses), net |  | 29 | (1,449) |
Unrealized gains (losses), net | (17) |  | 2,688 | 1,223
Transfer to (from) Level 3 | (1,649) | (191) | (1,469) | (24,770)
Ending Balance |  | 1,552 |  | 1,552
Derivatives |  |  |  |
Changes in fair value of assets |  |  |  |
Beginning Balance | 2,399 | 6,130 | 2,339 | 16,363
Realized gains (losses), net |  | (3,770) |  |
Unrealized gains (losses), net | (6,744) |  | (6,684) | (14,003)
Ending Balance | (4,345) | 2,360 | (4,345) | 2,360
Loans, net |  |  |  |
Changes in fair value of assets |  |  |  |
Beginning Balance | 9,956 | 13,681 | 10,766 | 13,795
Sales / Principal payments |  | (1,380) |  | (1,592)
Realized gains (losses), net |  | (139) |  | (5)
Unrealized gains (losses), net | (374) |  | (1,184) | (36)
Ending Balance | 9,582 | 12,162 | 9,582 | 12,162
Loans, held for sale, at fair value |  |  |  |
Changes in fair value of assets |  |  |  |
Beginning Balance | 200,863 |  | 231,865 |
Purchases or Originations |  |  | 23,470 |
Sales / Principal payments | (182) |  | (32,891) |
Realized gains (losses), net | (1) |  | (788) |
Unrealized gains (losses), net | (12,965) |  | (28,739) |
Transfer to (from) Level 3 |  |  | (1,340) |
Transfer from loans, held-for-investment, net |  |  | (3,862) |
Ending Balance | 187,715 |  | 187,715 |
Investments held to maturity |  |  |  |
Changes in fair value of assets |  |  |  |
Beginning Balance | 9,601 |  |  |
Sales / Principal payments | (5,877) |  | (13,173) |
Realized gains (losses), net |  |  | (156) |
Measurement Period Adjustment | (3,724) |  | (3,724) |
Merger |  |  | 17,053 |
Paycheck Protection Program loans, at fair value |  |  |  |
Changes in fair value of assets |  |  |  |
Beginning Balance |  | 16,431 | 3,243 | 74,931
Purchases or Originations |  |  |  | 3,866
Sales / Principal payments |  | (6,558) | (1,400) | (68,924)
Transfer to (from) Level 3 |  |  | (1,843) |
Ending Balance |  | 9,873 |  | 9,873
Mortgage servicing rights |  |  |  |
Changes in fair value of assets |  |  |  |
Beginning Balance | 168,653 | 100,820 | 120,142 | 76,840
Additions due to loans sold, servicing retained | 9,463 | 11,622 | 32,417 | 35,595
Sales / Principal payments | (2,610) | (5,000) | (9,636) | (15,650)
Realized gains (losses), net |  | 147 |  |
Unrealized gains (losses), net | 16,647 |  | 49,230 | 10,804
Ending Balance | 192,153 | $ 107,589 | 192,153 | $ 107,589
Investment in unconsolidated joint ventures |  |  |  |
Changes in fair value of assets |  |  |  |
Beginning Balance | 8,439 |  | 8,894 |
Unrealized gains (losses), net | (171) |  | (626) |
Ending Balance | $ 8,268 |  | $ 8,268 |

X
- Definition Amount of issuances and purchases of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References No definition available. + Details
Name: | rc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetIssuancesAndPurchases
Namespace Prefix: | rc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of financial instruments acquired from mergers and acquisitions classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References No definition available. + Details
Name: | rc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetMergersAndAcquisitionsTotal
Namespace Prefix: | rc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of sale and settlement of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References No definition available. + Details
Name: | rc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSalesAndSettlements
Namespace Prefix: | rc_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Transfers from (to) loans, held for investment at fair value, net. + References No definition available. + Details
Name: | rc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersFromLoansHeldForInvestmentNet
Namespace Prefix: | rc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Accreted discount (amortized premium), classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References No definition available. + Details
Name: | rc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetsAccretedDiscountAmortizedPremiumNet
Namespace Prefix: | rc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of financial instruments acquired from mergers and acquisitions classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References No definition available. + Details
Name: | rc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityMergersAndAcquisitionsTotal
Namespace Prefix: | rc_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition This element represents the amount of any measurement period adjustment (as defined) realized during the reporting period to financial assets acquired in connection with a business combination for which the initial accounting was incomplete. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 4A -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=128092470&loc=SL65897772-128472 + Details
Name: | us-gaap_BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentFinancialAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition This element represents the amount of any measurement period adjustment (as defined) realized during the reporting period to financial liabilities assumed in connection with a business combination for which the initial accounting was incomplete. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 4A -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=128092470&loc=SL65897772-128472 + Details
Name: | us-gaap_BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentFinancialLiabilities
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. + References No definition available. + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. + References No definition available. + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of gain (loss) recognized in income from asset measured at fair value on recurring basis using unobservable input (level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of gain (loss) recognized in other comprehensive income (OCI) from asset measured at fair value on recurring basis using unobservable input (level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of transfer of financial instrument classified as an asset into (out of) level 3 of the fair value hierarchy. + References No definition available. + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Fair value of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of purchases of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of sales of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Fair value of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The value of new servicing assets, subsequently measured at fair value, acquired or created during the current period through purchases or from transfers of financial assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a)(2) -URI https://asc.fasb.org/extlink&oid=128311188&loc=d3e122625-111746 + Details
Name: | us-gaap_ServicingAssetAtFairValueAdditions
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByLiabilityClassAxis=rc_ContingentConsiderationMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=us-gaap_MortgageBackedSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=us-gaap_DerivativeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=us-gaap_LoansReceivableMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=rc_LoansHeldForSaleMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=us-gaap_DebtSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=rc_OriginatedPaycheckProtectionProgramLoansAtFairValueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=rc_ResidentialMortgageServicingRightsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=us-gaap_EquityMethodInvestmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |