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Equity Investments, at Fair Value - (Details) - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]      
Other income (losses) $ 5,515,000 $ 678,000 $ 2,128,000
Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Other income (losses) 2,800,000    
Joint Venture Equity Investments in Multi-Family Properties      
Schedule of Equity Method Investments [Line Items]      
Other income (losses) 200,000 9,700,000 300,000
Realized gains (losses), net 0 8,800,000 10,200,000
Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Other income (losses) 400,000 300,000  
Constructive Loans, LLC (1) | Single-Family Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Purchase of residential loans 94,000,000    
Equity investments | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Fair Value 180,798,000 182,765,000  
Changes in fair value, gain (loss) 24,633,000 16,587,000 8,541,000
Equity investments | Joint Venture Equity Investments in Multi-Family Properties      
Schedule of Equity Method Investments [Line Items]      
Fair Value 10,440,000 0  
Changes in fair value, gain (loss) 150,000 (949,000) 10,481,000
Equity investments | Single-Family Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Fair Value 48,393,000 76,330,000  
Changes in fair value, gain (loss) 9,113,000 11,032,000 4,619,000
Equity investments | Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Fair Value $ 239,631,000 $ 259,095,000  
Equity investments | Somerset Deerfield Investor, LLC | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 45.00% 45.00%  
Fair Value $ 19,965,000 $ 18,792,000  
Changes in fair value, gain (loss) $ 2,295,000 $ 2,168,000 1,992,000
Equity investments | RS SWD Owner, LLC, RS SWD Mitchell Owner, LLC, RS SWD IF Owner, LLC, RS SWD Mullis Owner, LLC, RS SWD JH Mullis Owner, LLC and RS SWD Saltzman Owner, LLC (collectively) | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 43.00% 43.00%  
Fair Value $ 5,725,000 $ 5,140,000  
Changes in fair value, gain (loss) $ 585,000 $ 551,000 539,000
Equity investments | Walnut Creek Properties Holdings, L.L.C. | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 36.00% 36.00%  
Fair Value $ 9,482,000 $ 8,803,000  
Changes in fair value, gain (loss) $ 1,240,000 $ 928,000 803,000
Equity investments | DCP Gold Creek, LLC | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 44.00% 44.00%  
Fair Value $ 6,686,000 $ 6,357,000  
Changes in fair value, gain (loss) $ 780,000 $ 701,000 0
Equity investments | 1122 Chicago DE, LLC | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 53.00% 53.00%  
Fair Value $ 7,723,000 $ 7,222,000  
Changes in fair value, gain (loss) $ 908,000 $ 835,000 0
Equity investments | Rigsbee Ave Holdings, LLC | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 56.00% 56.00%  
Fair Value $ 11,331,000 $ 10,222,000  
Changes in fair value, gain (loss) $ 1,683,000 $ 1,148,000 0
Equity investments | Bighaus, LLC | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 42.00% 42.00%  
Fair Value $ 15,471,000 $ 14,525,000  
Changes in fair value, gain (loss) $ 1,786,000 $ 1,002,000 0
Equity investments | FF/RMI 20 Midtown, LLC | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 51.00% 51.00%  
Fair Value $ 25,499,000 $ 23,936,000  
Changes in fair value, gain (loss) $ 3,059,000 $ 686,000 0
Equity investments | Lurin-RMI, LLC | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 38.00% 38.00%  
Fair Value $ 9,548,000 $ 7,216,000  
Changes in fair value, gain (loss) $ 931,000 $ 81,000 0
Equity investments | Palms at Cape Coral, LLC | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 34.00% 0.00%  
Fair Value $ 5,175,000 $ 0  
Changes in fair value, gain (loss) $ 342,000 $ 0 0
Equity investments | America Walks at Port St. Lucie, LLC | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 62.00% 0.00%  
Fair Value $ 30,383,000 $ 0  
Changes in fair value, gain (loss) $ 1,678,000 $ 0 0
Equity investments | EHOF-NYMT Sunset Apartments Preferred, LLC | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 57.00% 0.00%  
Fair Value $ 17,213,000 $ 0  
Changes in fair value, gain (loss) $ 661,000 $ 0 0
Equity investments | Lucie at Tradition Holdings, LLC | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 70.00% 0.00%  
Fair Value $ 16,597,000 $ 0  
Changes in fair value, gain (loss) $ 484,000 $ 0 0
Equity investments | BBA-EP320 II, L.L.C., BBA-Ten10 II, L.L.C., and Lexington on the Green Apartments, L.L.C. (collectively) | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 0.00% 45.00%  
Fair Value $ 0 $ 11,441,000  
Changes in fair value, gain (loss) $ 1,304,000 $ 1,260,000 1,167,000
Equity investments | Audubon Mezzanine Holdings, L.L.C. (Series A) | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 0.00% 57.00%  
Fair Value $ 0 $ 11,456,000  
Changes in fair value, gain (loss) $ 1,251,000 $ 1,213,000 1,224,000
Equity investments | EP 320 Growth Fund, L.L.C. (Series A) and Turnbury Park Apartments - BC, L.L.C. (Series A) (collectively) | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 0.00% 46.00%  
Fair Value $ 0 $ 7,234,000  
Changes in fair value, gain (loss) $ 735,000 $ 782,000 741,000
Equity investments | Towers Property Holdings, LLC | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 0.00% 37.00%  
Fair Value $ 0 $ 12,119,000  
Changes in fair value, gain (loss) $ 1,192,000 $ 1,243,000 638,000
Equity investments | Mansions Property Holdings, LLC | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 0.00% 34.00%  
Fair Value $ 0 $ 11,679,000  
Changes in fair value, gain (loss) $ 1,148,000 $ 1,198,000 615,000
Equity investments | Sabina Montgomery Holdings, LLC - Series B and Oakley Shoals Apartments, LLC - Series A (collectively) | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 0.00% 43.00%  
Fair Value $ 0 $ 4,320,000  
Changes in fair value, gain (loss) $ 412,000 $ 454,000 188,000
Equity investments | Gen1814, LLC - Series A, Highlands - Mtg. Holdings, LLC - Series A, and Polos at Hudson Investments, LLC - Series A (collectively) | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 0.00% 37.00%  
Fair Value $ 0 $ 9,966,000  
Changes in fair value, gain (loss) $ 966,000 $ 1,044,000 367,000
Equity investments | Axis Apartments Holdings, LLC, Arbor-Stratford Holdings II, LLC - Series B, Highlands - Mtg. Holdings, LLC - Series B, Oakley Shoals Apartments, LLC - Series C, and Woodland Park Apartments II, LLC (collectively) | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 0.00% 53.00%  
Fair Value $ 0 $ 12,337,000  
Changes in fair value, gain (loss) $ 1,193,000 $ 1,293,000 267,000
Equity investments | GWR Cedars Partners, LLC | Joint Venture Equity Investments in Multi-Family Properties      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 70.00% 0.00%  
Fair Value $ 3,770,000 $ 0  
Changes in fair value, gain (loss) $ 60,000 $ 0 0
Equity investments | GWR Gateway Partners, LLC | Joint Venture Equity Investments in Multi-Family Properties      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 70.00% 0.00%  
Fair Value $ 6,670,000 $ 0  
Changes in fair value, gain (loss) $ 90,000 $ 0 0
Equity investments | Morrocroft Neighborhood Stabilization Fund II, LP | Single-Family Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 11.00% 11.00%  
Fair Value $ 19,143,000 $ 13,040,000  
Changes in fair value, gain (loss) $ 6,378,000 $ 1,519,000 843,000
Equity investments | Constructive Loans, LLC (1) | Single-Family Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 0.00% 0.00%  
Fair Value $ 29,250,000 $ 0  
Other income (losses) 2,800,000    
Changes in fair value, gain (loss) $ 2,750,000 $ 0 0
Option to purchase issued and outstanding interests, percent 50.00%    
Equity investments | Headlands Asset Management Fund III (Cayman), LP (Headlands Flagship Opportunity Fund Series I) (1) | Single-Family Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 0.00% 49.00%  
Fair Value $ 0 $ 63,290,000  
Changes in fair value, gain (loss) (15,000) 9,513,000 3,776,000
Equity investments | The Preserve at Port Royal Venture, LLC | Joint Venture Equity Investments in Multi-Family Properties      
Schedule of Equity Method Investments [Line Items]      
Changes in fair value, gain (loss) 0 (949,000) 5,374,000
Equity investments | Evergreens JV Holdings, LLC | Joint Venture Equity Investments in Multi-Family Properties      
Schedule of Equity Method Investments [Line Items]      
Changes in fair value, gain (loss) $ 0 $ 0 $ 5,107,000