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Net Interest Income (Tables) | 12 Months Ended
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Dec. 31, 2024
Banking and Thrift, Interest [Abstract] |
Schedule of Components of Interest Income and Interest Expense | The following table presents interest expense from the Convertible Notes for the year ended December 31, 2022 (dollar amounts in thousands):
|  |  |  | For the Year Ended December 31, 2022
Contractual interest expense |  |  |  |  |  | $ | 335 |  |  |
Amortization of underwriter's discount and deferred charges |  |  |  |  |  | 103 |  |  |
Total |  |  |  |  |  | $ | 438 |  |  |
The following table details the components of the Company's interest income and interest expense for the years ended December 31, 2024, 2023 and 2022, respectively (dollar amounts in thousands):
| For the Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Interest income |  |  |  |  |
Residential loans |  |  |  |  |
Residential loans | $ | 50,266 |  |  | $ | 54,188 |  |  | $ | 113,134 |
Consolidated SLST | 39,194 |  |  | 34,061 |  |  | 36,448 |
Residential loans held in securitization trusts | 129,905 |  |  | 97,492 |  |  | 80,116 |
Total residential loans | 219,365 |  |  | 185,741 |  |  | 229,698 |
Investment securities available for sale | 163,977 |  |  | 57,514 |  |  | 15,825 |
Multi-family loans | 10,589 |  |  | 10,519 |  |  | 11,185 |
Other | 7,349 |  |  | 4,886 |  |  | 1,680 |
Total interest income | 401,280 |  |  | 258,660 |  |  | 258,388 |
Interest expense |  |  |  |  |
Repurchase agreements | 183,285 |  |  | 91,814 |  |  | 51,432 |
Collateralized debt obligations |  |  |  |  |
Consolidated SLST | 26,491 |  |  | 24,506 |  |  | 25,145 |
Residential loan securitizations | 91,884 |  |  | 65,184 |  |  | 43,384 |
Non-Agency RMBS re-securitization | 2,221 |  |  | — |  |  | — |
Total collateralized debt obligations | 120,596 |  |  | 89,690 |  |  | 68,529 |
Senior unsecured notes | 9,308 |  |  | 6,476 |  |  | 6,430 |
Subordinated debentures | 4,236 |  |  | 4,154 |  |  | 2,590 |
Convertible notes | — |  |  | — |  |  | 438 |
Total interest expense | 317,425 |  |  | 192,134 |  |  | 129,419 |
Net interest income | $ | 83,855 |  |  | $ | 66,526 |  |  | $ | 128,969 |

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- Definition Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities. + References No definition available. + Details
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