XML 38 R20.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Mortgage Servicing Rights | 12 Months Ended
--- | ---
Dec. 31, 2024
Transfers and Servicing [Abstract] |
Mortgage Servicing Rights | 11. Mortgage Servicing Rights The Company owned MSRs as of December 31, 2024 resulting from distributions of MSRs received from its equity investment in an entity that originates residential loans (see Note 6) and purchases of MSRs. The Company's MSRs are associated with business purpose loans and are reported at fair value pursuant to the fair value option election (see Note 17). The primary risks associated with the Company's MSRs are changes in interest rates and prepayment speeds. The following table presents activity related to MSRs for the year ended December 31, 2024 (dollar amounts in thousands). The Company did not have MSRs for the years ended December 31, 2023 and 2022.
|  |  | Year Ended December 31, 2024
Balance at beginning of period |  | $ | — |
MSRs received from equity investment |  | 10,917 |
Purchases of MSRs |  | 9,470 |
Changes in fair value due to: |  |
| Changes in valuation inputs or assumptions used in valuation model |  | 912 |
| Other changes in fair value, including runoff |  | (296) |
Balance at end of period |  | $ | 21,003 |
The following table presents the components of servicing fee income recognized during the year ended December 31, 2024 (dollar amounts in thousands). Servicing fee income is included in other income (loss) on the accompanying consolidated statements of operations.
|  | Year Ended December 31, 2024
Servicing fees |  | $ | 516 |
Prepayment fees |  | 352 |
Ancillary and other fee income (1) |  | 38 |
Servicing fee income |  | $ | 906 |
(1)Includes default interest and late fee collections. The Company recognized subservicing fee expenses in the amount of $0.1 million related to MSRs during the year ended December 31, 2024, which is included in portfolio operating expenses on the accompanying consolidated statements of operations.

X
- References No definition available. + Details
Name: | us-gaap_TransfersAndServicingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(11)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481420/860-30-50-1A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a)(7) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-4 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-3 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b)(2)(ii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-3 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-4 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-3 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(4)(ii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-3 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(5) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-3 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-2 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/860/tableOfContent Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-3 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (cc) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-3 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a)(5)(ii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-4 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-4 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4D -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-4D Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481420/860-30-50-1A Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481420/860-30-50-7 Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-2 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-2 Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-4 + Details
Name: | us-gaap_TransfersAndServicingOfFinancialAssetsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration