XML 110 R94.htm IDEA: XBRL DOCUMENT v3.25.4
Investments in unconsolidated equity method affiliates - Schedule of Equity Method Investments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 57,832 $ 118,662
Restricted cash 18,489 19,906
Other assets 58,900 41,940
Total Assets 8,711,530 6,913,609
Liabilities    
Other liabilities [1] 42,720 34,758
Total Liabilities 8,150,796 6,370,186
Total Members' Equity    
Total Liabilities & Stockholders' Equity 8,711,530 6,913,609
The Company's Investments in debt and equity of affiliates 61,333 46,841
Carrying Value 8,100,775 6,329,796
Arc Home    
Total Members' Equity    
The Company's Investments in debt and equity of affiliates 50,016  
Non-QM Loans    
Total Members' Equity    
The Company's Investments in debt and equity of affiliates 10,474  
Re/Non-Performing Securities    
Total Members' Equity    
The Company's Investments in debt and equity of affiliates 843  
Equity Method Investment, Nonconsolidated Investee or Group of Investees    
Assets    
Loans and real estate securities, at fair value 467,008 466,516
Mortgage servicing rights, at fair value 2,163 2,080
Cash and cash equivalents 31,399 19,147
Restricted cash 508 597
Other assets 25,810 26,704
Total Assets 526,888 515,044
Liabilities    
Financing arrangements 404,534 387,929
Other liabilities 20,931 19,201
Total Liabilities 425,465 407,130
Total Members' Equity    
Total Member's equity 101,423 107,914
Total Liabilities & Stockholders' Equity 526,888 515,044
Equity Method Investment, Nonconsolidated Investee or Group of Investees | Other assets    
Total Members' Equity    
Carrying Value 2,600 1,700
Equity Method Investment, Nonconsolidated Investee or Group of Investees | Other liabilities    
Total Members' Equity    
Carrying Value 2,600 $ 1,700
Arc Home    
Assets    
Loans and real estate securities, at fair value 444,633  
Mortgage servicing rights, at fair value 2,163  
Cash and cash equivalents 28,432  
Restricted cash 508  
Other assets 25,526  
Total Assets 501,262  
Liabilities    
Financing arrangements 404,534  
Other liabilities 20,895  
Total Liabilities 425,429  
Total Members' Equity    
Total Member's equity 75,833  
Total Liabilities & Stockholders' Equity $ 501,262  
Loan securitization, ownership interest 66.00% 44.60%
Non-QM Loans    
Assets    
Loans and real estate securities, at fair value $ 20,083  
Mortgage servicing rights, at fair value 0  
Cash and cash equivalents 2,020  
Restricted cash 0  
Other assets 284  
Total Assets 22,387  
Liabilities    
Financing arrangements 0  
Other liabilities 15  
Total Liabilities 15  
Total Members' Equity    
Total Member's equity 22,372  
Total Liabilities & Stockholders' Equity $ 22,387  
Loan securitization, ownership interest 47.00% 47.00%
Re/Non-Performing Securities    
Assets    
Loans and real estate securities, at fair value $ 2,292  
Mortgage servicing rights, at fair value 0  
Cash and cash equivalents 947  
Restricted cash 0  
Other assets 0  
Total Assets 3,239  
Liabilities    
Financing arrangements 0  
Other liabilities 21  
Total Liabilities 21  
Total Members' Equity    
Total Member's equity 3,218  
Total Liabilities & Stockholders' Equity $ 3,239  
Loan securitization, ownership interest 26.10% 22.70%
[1] Refer to Note 7 and Note 10 for additional details on amounts payable to affiliates.