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Use of Special Purpose Entities (SPE) and Variable Interest Entities (VIE) - Schedule of Assets and Liabilities of Consolidated Real Estate VIE's (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Cash and cash equivalents $ 185,285   $ 167,422 $ 195,066    
Assets of disposal group held for sale 1,383   118,613      
Other assets 398,180   437,874      
Total Assets [1] 12,401,862   9,217,282      
Carrying Value 3,577,459   2,978,444      
Liabilities of disposal group held for sale 78   97,065      
Other liabilities 173,863   147,612      
Total Liabilities [1] 10,997,084   7,806,148      
Non-controlling interest in Consolidated VIEs 288   4,055      
Consolidated SLST            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Carrying Value 3,202,295   2,135,680      
Residential loan securitizations at amortized cost, net            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Carrying Value 375,164   842,764      
VIE, Primary Beneficiary            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Real estate, net held in Consolidated VIEs 601,748   623,407      
Total Assets 4,478,542   3,988,584      
Carrying Value 235,226     275,200    
Total Liabilities 3,981,131   3,477,211      
Redeemable non-controlling interest in Consolidated VIEs 13,713 $ 12,782 12,359 $ 21,826 $ 23,088 $ 28,061
VIE, Primary Beneficiary | Financing And Other VIEs            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Cash and cash equivalents 3,147   4,151      
Residential loans, at fair value 3,843,225   3,209,472      
Real estate, net held in Consolidated VIEs 469,764   481,161      
Assets of disposal group held for sale 1,383   118,613      
Other assets 161,023   175,187      
Total Assets 4,478,542   3,988,584      
Carrying Value 3,577,459   2,978,444      
Mortgages payable on real estate, net in Consolidated VIEs 362,747   366,606      
Liabilities of disposal group held for sale 78   97,065      
Other liabilities 40,847   35,096      
Total Liabilities 3,981,131   3,477,211      
Redeemable non-controlling interest in Consolidated VIEs 13,713   12,359      
Non-controlling interest in Consolidated VIEs 163   3,930      
Net investment 483,535   495,084      
VIE, Primary Beneficiary | Financing VIEs            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Cash and cash equivalents 0   0      
Residential loans, at fair value 2,660,626   2,243,800      
Real estate, net held in Consolidated VIEs 0   0      
Assets of disposal group held for sale 0   0      
Other assets 140,124   154,426      
Total Assets 2,800,750   2,398,226      
Carrying Value 2,560,507   2,166,853      
Mortgages payable on real estate, net in Consolidated VIEs 0   0      
Liabilities of disposal group held for sale 0   0      
Other liabilities 20,157   16,162      
Total Liabilities 2,580,664   2,183,015      
Redeemable non-controlling interest in Consolidated VIEs 0   0      
Non-controlling interest in Consolidated VIEs 0   0      
Net investment 220,086   215,211      
VIE, Primary Beneficiary | Consolidated SLST            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Cash and cash equivalents 0   0      
Residential loans, at fair value 1,182,599   965,672      
Real estate, net held in Consolidated VIEs 0   0      
Assets of disposal group held for sale 0   0      
Other assets 4,648   4,065      
Total Assets 1,187,247   969,737      
Carrying Value 1,016,952   811,591      
Mortgages payable on real estate, net in Consolidated VIEs 0   0      
Liabilities of disposal group held for sale 0   0      
Other liabilities 10,127   8,313      
Total Liabilities 1,027,079   819,904      
Redeemable non-controlling interest in Consolidated VIEs 0   0      
Non-controlling interest in Consolidated VIEs 0   0      
Net investment 160,168   149,833      
VIE, Primary Beneficiary | Consolidated Real Estate            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Cash and cash equivalents 3,147   4,151      
Residential loans, at fair value 0   0      
Real estate, net held in Consolidated VIEs 469,764   481,161      
Assets of disposal group held for sale 1,383   118,613      
Other assets 16,251   16,696      
Total Assets 490,545   620,621      
Carrying Value 0   0      
Mortgages payable on real estate, net in Consolidated VIEs 362,747   366,606      
Liabilities of disposal group held for sale 78   97,065      
Other liabilities 10,563   10,621      
Total Liabilities 373,388   474,292      
Redeemable non-controlling interest in Consolidated VIEs 13,713   12,359      
Non-controlling interest in Consolidated VIEs 163   3,930      
Net investment 103,281   130,040      
VIE, Primary Beneficiary | Consolidated SLST            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Carrying Value 3,202,295   842,764      
VIE, Primary Beneficiary | Residential loan securitizations at amortized cost, net            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Carrying Value $ 375,164   $ 2,135,680      
[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 September 30, 2025 and December 31, 2024, assets of consolidated VIEs totaled $4,478,542 and $3,988,584, respectively, and the liabilities of consolidated VIEs totaled $3,981,131 and $3,477,211, respectively. See Note 7 for further discussion.