XML 117 R106.htm IDEA: XBRL DOCUMENT v3.25.2
Collateralized Debt Obligations - Schedule of Mortgages Payable in Consolidated VIEs (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Minimum          
Debt Instrument [Line Items]          
Debt instrument, interest rate increases, months after issuance     24 months    
Maximum          
Debt Instrument [Line Items]          
Debt instrument, interest rate increases, months after issuance     48 months    
Step-Up Interest Rate One          
Debt Instrument [Line Items]          
Debt instrument, interest rate increase, non-redemption 1.00%   1.00%    
Step-Up Interest Rate Two          
Debt Instrument [Line Items]          
Debt instrument, interest rate increase, non-redemption 1.50%   1.50%    
Step-Up Interest Rate Three          
Debt Instrument [Line Items]          
Debt instrument, interest rate increase, non-redemption 3.00%   3.00%    
Collateralized Debt Obligations | Secured Debt          
Debt Instrument [Line Items]          
Outstanding Face Amount $ 3,448,137   $ 3,448,137   $ 3,070,314
Carrying Value 3,364,600   3,364,600   2,978,444
Collateralized Debt Obligations | Secured Debt | Consolidated SLST          
Debt Instrument [Line Items]          
Outstanding Face Amount 1,095,309   1,095,309   867,004
Carrying Value $ 1,031,897   $ 1,031,897   $ 811,591
Weighted average interest rate 3.35%   3.35%   3.49%
Collateralized Debt Obligations | Secured Debt | Consolidated SLST | Interest Rate Step-Up          
Debt Instrument [Line Items]          
Outstanding Face Amount $ 1,800,000   $ 1,800,000    
Collateralized Debt Obligations | Secured Debt | Residential loan securitizations          
Debt Instrument [Line Items]          
Outstanding Face Amount 1,543,302   1,543,302   $ 1,281,896
Carrying Value $ 1,526,481   $ 1,526,481   $ 1,253,332
Weighted average interest rate 5.73%   5.73%   5.72%
Unrealized (losses) gains recognized on CDOs $ (7,400) $ (100) $ (12,000) $ 1,500  
Collateralized Debt Obligations | Secured Debt | Residential loan securitizations at amortized cost, net          
Debt Instrument [Line Items]          
Outstanding Face Amount 741,397   741,397   $ 850,547
Carrying Value $ 738,121   $ 738,121   $ 842,764
Weighted average interest rate 4.39%   4.39%   4.35%
Collateralized Debt Obligations | Secured Debt | Non-Agency RMBS re-securitization at fair value          
Debt Instrument [Line Items]          
Outstanding Face Amount $ 68,129   $ 68,129   $ 70,867
Carrying Value $ 68,101   $ 68,101   $ 70,757
Weighted average interest rate 7.38%   7.38%   7.38%