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Collateralized Debt Obligations (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of Mortgages Payable in Consolidated VIEs

The following tables present a summary of the Company's CDOs as of March 31, 2023 and December 31, 2022, respectively (dollar amounts in thousands):

			March 31, 2023
			Outstanding Face Amount						Carrying Value						Weighted Average Interest Rate (1)												Stated Maturity (2)
Consolidated SLST (3)			$	688,916					$	638,513					2.75		%										2059
Residential loan securitizations			1,416,155						1,390,991						3.58		%										2026 - 2062
Total collateralized debt obligations			$	2,105,071					$	2,029,504

			December 31, 2022
			Outstanding Face Amount						Carrying Value						Weighted Average Interest Rate (1)												Stated Maturity (2)
Consolidated SLST (3)			$	699,408					$	634,495					2.75		%										2059
Residential loan securitizations			1,498,198						1,468,222						3.54		%										2026 - 2062
Total collateralized debt obligations			$	2,197,606					$	2,102,717

(1)Weighted average interest rate is calculated using the outstanding face amount and stated interest rate of notes issued by the securitization and not owned by the Company.

(2)The actual maturity of the Company's CDOs are primarily determined by the rate of principal prepayments on the assets of the issuing entity. The CDOs are also subject to redemption prior to the stated maturity according to the terms of the respective governing documents. As a result, the actual maturity of the CDOs may occur earlier than the stated maturity.

(3)The Company has elected the fair value option for CDOs issued by Consolidated SLST (see Note 16).

Schedule of Maturities of Collateralized Debt Obligations

The Company's CDOs as of March 31, 2023 had stated maturities as follows:

Year ending December 31,						Total
2023						$	—
2024						—
2025						—
2026						113,000
2027						225,000
Thereafter						1,767,071
Total						$	2,105,071

As of March 31, 2023, maturities for debt on the Company's condensed consolidated balance sheet are as follows (dollar amounts in thousands):

Year Ending December 31,						Outstanding Balance
2023						$	—
2024						—
2025						27,750
2026						127,209
2027						—
2028						—
Thereafter						390,153
						$	545,112

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