XML 73 R62.htm IDEA: XBRL DOCUMENT v3.21.1
Use of Special Purpose Entities (SPE) and Variable Interest Entities (VIE) - Assets and Liabilities of Consolidated VIEs (Details) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Mar. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Cash and cash equivalents $ 290,977 $ 293,183 $ 172,513
Investment securities available for sale, at fair value 232,590 311,284  
Other assets 220,719 165,824  
Total Assets [1] 4,726,174 4,655,587  
Other Liabilities 167,710 138,498  
Total Liabilities [1] 2,411,823 2,348,014  
Non-controlling interest in consolidated variable interest entities 5,498 6,371  
Residential collateralized debt obligations      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Multi-family CDOs, at fair value 533,822 569,323  
Collateralized Debt Obligations      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Multi-family CDOs, at fair value 992,288 1,054,335  
VIE, Primary Beneficiary      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Total Assets 2,011,594 2,150,984  
Total Liabilities 1,593,419 1,667,306  
VIE, Primary Beneficiary | Residential collateralized debt obligations      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Multi-family CDOs, at fair value 533,822 569,323  
VIE, Primary Beneficiary | Collateralized Debt Obligations      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Multi-family CDOs, at fair value 992,288 1,054,335  
VIE, Primary Beneficiary | Residential Loan Securitizations      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Cash and cash equivalents 0 0  
Investment securities available for sale, at fair value   0  
Operating real estate, net held in Consolidated VIEs 0 0  
Other assets 28,900 24,959  
Total Assets 706,967 716,410  
Multi-family CDOs, at fair value 533,822 554,067  
Mortgages payable in consolidated variable interest entities 0 0  
Other Liabilities 1,908 2,610  
Total Liabilities 535,730 556,677  
Non-controlling interest in consolidated variable interest entities 0 0  
Net investment 171,237 159,733  
VIE, Primary Beneficiary | Residential Loan Securitizations | Residential loans      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Residential loans, at fair value 678,067 691,451  
VIE, Primary Beneficiary | Non-Agency RMBS Re-Securitization      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Cash and cash equivalents   0  
Investment securities available for sale, at fair value   109,140  
Operating real estate, net held in Consolidated VIEs   0  
Other assets   535  
Total Assets   109,675  
Multi-family CDOs, at fair value   15,256  
Mortgages payable in consolidated variable interest entities   0  
Other Liabilities   70  
Total Liabilities   15,326  
Non-controlling interest in consolidated variable interest entities   0  
Net investment   94,349  
VIE, Primary Beneficiary | Non-Agency RMBS Re-Securitization | Residential loans      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Residential loans, at fair value   0  
VIE, Primary Beneficiary | Consolidated SLST      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Cash and cash equivalents 0 0  
Investment securities available for sale, at fair value   0  
Operating real estate, net held in Consolidated VIEs 0 0  
Other assets 3,981 4,075  
Total Assets 1,215,489 1,270,860  
Multi-family CDOs, at fair value 992,288 1,054,335  
Mortgages payable in consolidated variable interest entities 0 0  
Other Liabilities 1,791 2,781  
Total Liabilities 994,079 1,057,116  
Non-controlling interest in consolidated variable interest entities 0 0  
Net investment 221,410 213,744  
VIE, Primary Beneficiary | Consolidated SLST | Residential loans      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Residential loans, at fair value 1,211,508 1,266,785  
VIE, Primary Beneficiary | Other      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Cash and cash equivalents 2,852 462  
Investment securities available for sale, at fair value   0  
Operating real estate, net held in Consolidated VIEs 82,141 50,532  
Other assets 4,145 3,045  
Total Assets 89,138 54,039  
Multi-family CDOs, at fair value 0 0  
Mortgages payable in consolidated variable interest entities 62,537 36,752  
Other Liabilities 1,073 1,435  
Total Liabilities 63,610 38,187  
Non-controlling interest in consolidated variable interest entities 5,498 6,371  
Net investment 20,030 9,481  
VIE, Primary Beneficiary | Other | Residential loans      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Residential loans, at fair value 0 0  
VIE, Primary Beneficiary | Financing And Other VIEs      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Cash and cash equivalents 2,852 462  
Investment securities available for sale, at fair value   109,140  
Operating real estate, net held in Consolidated VIEs 82,141 50,532  
Other assets 37,026 32,614  
Total Assets 2,011,594 2,150,984  
Multi-family CDOs, at fair value 1,526,110 1,623,658  
Mortgages payable in consolidated variable interest entities 62,537 36,752  
Other Liabilities 4,772 6,896  
Total Liabilities 1,593,419 1,667,306  
Non-controlling interest in consolidated variable interest entities 5,498 6,371  
Net investment 412,677 477,307  
VIE, Primary Beneficiary | Financing And Other VIEs | Residential loans      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Residential loans, at fair value $ 1,889,575 $ 1,958,236  
[1] Our condensed consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company is the primary beneficiary of these VIEs. As of March 31, 2021 and December 31, 2020, assets of consolidated VIEs totaled $2,011,594 and $2,150,984, respectively, and the liabilities of consolidated VIEs totaled $1,593,419 and $1,667,306, respectively. See Note 7 for further discussion.