XML 81 R72.htm IDEA: XBRL DOCUMENT v3.23.2
Use of Special Purpose Entities (SPE) and Variable Interest Entities (VIE) - Assets and Liabilities of Consolidated VIEs (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Cash and cash equivalents $ 232,497   $ 244,718 $ 407,104    
Assets of disposal group held for sale 965,599   1,151,784      
Other assets 237,624   259,356      
Total Assets [1] 6,279,047   6,240,745      
Liabilities of disposal group held for sale 755,840   883,812      
Other liabilities 97,794   115,991      
Total Liabilities [1] 4,525,359   4,376,634      
Non-controlling interest in Consolidated VIEs 28,405   33,092      
Residential collateralized debt obligations            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Multi-family CDOs, at fair value 1,369,632   1,468,222      
Consolidated SLST CDOs            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Multi-family CDOs, at fair value 617,168   634,495      
VIE, Primary Beneficiary            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Total Assets 4,005,742   4,261,097      
Total Liabilities 3,163,136   3,403,257      
Redeemable non-controlling interest in Consolidated VIEs 34,571 $ 54,352 63,803 $ 37,101 $ 53,361 $ 66,392
VIE, Primary Beneficiary | Financing And Other VIEs            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Cash and cash equivalents 9,430   21,129      
Real estate, net held in Consolidated VIEs 543,833   543,739      
Assets of disposal group held for sale 957,904   1,142,773      
Other assets 115,027   109,760      
Total Assets 4,005,742   4,261,097      
Multi-family CDOs, at fair value 1,986,800   2,102,717      
Mortgages payable on real estate, net in Consolidated VIEs 397,075   394,707      
Liabilities of disposal group held for sale 755,840   883,812      
Other liabilities 23,421   22,021      
Total Liabilities 3,163,136   3,403,257      
Redeemable non-controlling interest in Consolidated VIEs 34,571   63,803      
Non-controlling interest in Consolidated VIEs 28,280   32,967      
Net investment 779,755   761,070      
VIE, Primary Beneficiary | Residential Loan Securitizations            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Cash and cash equivalents 0   0      
Real estate, net held in Consolidated VIEs 0   0      
Assets of disposal group held for sale 0   0      
Other assets 98,486   92,906      
Total Assets 1,688,065   1,709,020      
Multi-family CDOs, at fair value 1,369,632   1,468,222      
Mortgages payable on real estate, net in Consolidated VIEs 0   0      
Liabilities of disposal group held for sale 0   0      
Other liabilities 8,417   8,168      
Total Liabilities 1,378,049   1,476,390      
Redeemable non-controlling interest in Consolidated VIEs 0   0      
Non-controlling interest in Consolidated VIEs 0   0      
Net investment 310,016   232,630      
VIE, Primary Beneficiary | Consolidated SLST            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Cash and cash equivalents 0   0      
Real estate, net held in Consolidated VIEs 0   0      
Assets of disposal group held for sale 0   0      
Other assets 3,071   3,168      
Total Assets 793,040   830,750      
Multi-family CDOs, at fair value 617,168   634,495      
Mortgages payable on real estate, net in Consolidated VIEs 0   0      
Liabilities of disposal group held for sale 0   0      
Other liabilities 4,525   3,342      
Total Liabilities 621,693   637,837      
Redeemable non-controlling interest in Consolidated VIEs 0   0      
Non-controlling interest in Consolidated VIEs 0   0      
Net investment 171,347   192,913      
VIE, Primary Beneficiary | Consolidated Real Estate            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Cash and cash equivalents 9,430   21,129      
Real estate, net held in Consolidated VIEs 543,833   543,739      
Assets of disposal group held for sale 957,904   1,142,773      
Other assets 13,470   13,686      
Total Assets 1,524,637   1,721,327      
Multi-family CDOs, at fair value 0   0      
Mortgages payable on real estate, net in Consolidated VIEs 397,075   394,707      
Liabilities of disposal group held for sale 755,840   883,812      
Other liabilities 10,479   10,511      
Total Liabilities 1,163,394   1,289,030      
Redeemable non-controlling interest in Consolidated VIEs 34,571   63,803      
Non-controlling interest in Consolidated VIEs 28,280   32,967      
Net investment 298,392   335,527      
VIE, Primary Beneficiary | Residential collateralized debt obligations            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Multi-family CDOs, at fair value 1,369,632   1,468,222      
VIE, Primary Beneficiary | Consolidated SLST CDOs            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Multi-family CDOs, at fair value 617,168   634,495      
VIE, Primary Beneficiary | Residential loans, at fair value | Financing And Other VIEs            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Residential loans, at fair value 2,379,548   2,443,696      
VIE, Primary Beneficiary | Residential loans, at fair value | Residential Loan Securitizations            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Residential loans, at fair value 1,589,579   1,616,114      
VIE, Primary Beneficiary | Residential loans, at fair value | Consolidated SLST            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Residential loans, at fair value 789,969   827,582      
VIE, Primary Beneficiary | Residential loans, at fair value | Consolidated Real Estate            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Residential loans, at fair value $ 0   $ 0      
[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 June 30, 2023 and December 31, 2022, assets of consolidated VIEs totaled $4,005,742 and $4,261,097, respectively, and the liabilities of consolidated VIEs totaled $3,163,136 and $3,403,257, respectively. See Note 7 for further discussion.