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Schedule IV - Mortgage Loans on Real Estate | 12 Months Ended
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Dec. 31, 2023
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract] |
Schedule IV - Mortgage Loans on Real Estate | Schedule IV - Mortgage Loans on Real Estate (dollar amounts in thousands) December 31, 2023
Asset Type |  | Number of Loans |  | Interest Rate |  | Maturity Date |  | Carrying Value (1) |  | Principal Amount of Loans Subject to Delinquent Principal or Interest (2)
Residential loans |  |  |  |  |  |  |  |  |  |
First lien loans |  |  |  |  |  |  |  |  |  |
Original loan amount $0 - $99,999 |  | 302 |  | 2.00% - 14.99% |  | 09/23/2013 - 09/01/2063 |  | $ | 8,348 |  |  | $ | 387 |
Original loan amount $100,000 - $199,999 |  | 309 |  | 2.13% - 11.72% |  | 11/22/2024 - 09/01/2063 |  | 34,929 |  |  | 347 |
Original loan amount $200,000 - $299,999 |  | 281 |  | 1.88% - 7.63% |  | 02/01/2033 - 11/01/2063 |  | 53,418 |  |  | 1,276 |
Original loan amount over $299,999 |  | 402 |  | 1.99% - 9.38% |  | 08/01/2027 - 08/01/2063 |  | 148,642 |  |  | 1,367 |
Second lien loans |  |  |  |  |  |  |  |  |  |
Original loan amount $0 - $99,999 |  | 168 |  | 0.00% - 8.88% |  | 06/01/2024 - 08/01/2062 |  | 5,546 |  |  | 474 |
Original loan amount $100,000 - $199,999 |  | 9 |  | 6.25% - 8.63% |  | 11/01/2032 - 03/01/2050 |  | 947 |  |  | — |
Original loan amount $200,000 - $299,999 |  | 4 |  | 6.75% - 7.75% |  | 03/01/2046 - 01/01/2050 |  | 712 |  |  | — |
Business purpose loans |  |  |  |  |  |  |  |  |  |
Original loan amount $0 - $99,999 |  | 218 |  | 5.50% - 13.65% |  | 09/05/2020 - 06/01/2052 |  | 27,199 |  |  | 3,829 |
Original loan amount $100,000 - $199,999 |  | 238 |  | 4.25% - 14.29% |  | 07/18/2020 - 06/01/2052 |  | 41,772 |  |  | 11,278 |
Original loan amount $200,000 - $299,999 |  | 196 |  | 5.63% - 15.19% |  | 04/19/2020 - 08/01/2052 |  | 51,703 |  |  | 9,943 |
Original loan amount over $299,999 |  | 488 |  | 5.50% - 15.39% |  | 07/08/2020 - 08/01/2052 |  | 454,158 |  |  | 104,816 |
Residential loans held in securitization trusts |  |  |  |  |  |  |  |  |  |
First lien loans |  |  |  |  |  |  |  |  |  |
Original loan amount $0 - $99,999 |  | 1,637 |  | 0.00% - 14.29% |  | 08/20/2013 - 10/01/2063 |  | 81,538 |  |  | 7,390 |
Original loan amount $100,000 - $199,999 |  | 2,116 |  | 0.00% - 12.75% |  | 11/01/2023 - 09/01/2063 |  | 222,407 |  |  | 13,813 |
Original loan amount $200,000 - $299,999 |  | 1,041 |  | 0.00% - 13.25% |  | 08/01/2025 - 09/01/2063 |  | 186,574 |  |  | 12,114 |
Original loan amount over $299,999 |  | 1,221 |  | 1.88% - 9.75% |  | 12/01/2025 - 11/01/2063 |  | 406,914 |  |  | 27,348 |
Business purpose loans |  |  |  |  |  |  |  |  |  |
Original loan amount $0 - $99,999 |  | 340 |  | 4.00% - 13.49% |  | 09/01/2022 - 07/01/2052 |  | 38,721 |  |  | 1,676 |
Original loan amount $100,000 - $199,999 |  | 520 |  | 3.75% - 14.75% |  | 11/13/2022 - 09/01/2052 |  | 78,371 |  |  | 2,001 |
Original loan amount $200,000 - $299,999 |  | 304 |  | 3.50% - 12.99% |  | 03/18/2023 - 07/01/2052 |  | 73,003 |  |  | 1,219 |
Original loan amount over $299,999 |  | 527 |  | 3.49% - 12.99% |  | 07/01/2022 - 07/01/2052 |  | 414,541 |  |  | 21,299 |
Consolidated SLST |  |  |  |  |  |  |  |  |  |
First lien loans |  | 5,813 |  | 1.38% - 10.50% |  | 03/01/2021 - 11/01/2063 |  | 754,860 |  |  | 84,650 |
|  |  |  |  |  |  |  | $ | 3,084,303 |  |  | $ | 305,227 |
(1)The aggregate cost for U.S. federal income tax purposes of consolidated mortgage loans in the table above, excluding Consolidated SLST, is approximately $2.5 billion as of December 31, 2023. The Company invests in first loss subordinated securities and certain IOs issued by Consolidated SLST. Consolidated SLST carrying value in the table above represents the carrying value of the residential loans in the securitization that have been consolidated in accordance with GAAP. (2)Of this amount, approximately $7.4 million was acquired from controlled and other affiliates. Reconciliation of Balance Sheet Reported Amounts of Mortgage Loans on Real Estate
|  | For the year ended December 31,
(in thousands) |  | 2023 |  | 2022 |  | 2021
Beginning balance |  | $ | 3,525,080 |  |  | $ | 3,575,601 |  |  | $ | 3,049,166 |
Additions during period: |  |  |  |  |  |
Purchases (1) |  | 620,277 |  |  | 1,733,265 |  |  | 1,581,979 |
Accretion of purchase discount |  | 6,689 |  |  | 5,292 |  |  | 4,154 |
Change in realized and unrealized gains |  | 65,485 |  |  | (404,524) |  |  | 44,564 |
Deductions during period: |  |  |  |  |  |
Repayments of principal |  | (1,062,930) |  |  | (1,362,294) |  |  | (1,018,176) |
Collection of interest |  | — |  |  | — |  |  | — |
Transfer to REO |  | (42,485) |  |  | (18,858) |  |  | (4,133) |
Cost of loans sold |  | (25,144) |  |  | — |  |  | (77,127) |
Provision for loan loss |  | — |  |  | — |  |  | — |
Amortization of premium |  | (2,669) |  |  | (3,402) |  |  | (4,826) |
Balance at end of period |  | $ | 3,084,303 |  |  | $ | 3,525,080 |  |  | $ | 3,575,601 |

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- Definition The entire disclosure for investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate. Includes, but is not limited to, information for each mortgage loan receivable equaling or exceeding 3 percent of carrying amount of mortgage. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 29 -Publisher SEC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 948 -SubTopic 310 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-29) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479851/948-310-S99-1 + Details
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