v3.25.4
Debt - Narrative (Details)
$ in Thousands
1 Months Ended 12 Months Ended
Jun. 30, 2024
Aug. 31, 2022
USD ($)
Dec. 31, 2025
USD ($)
securitization
facility
loanPool
Dec. 31, 2024
USD ($)
Jun. 29, 2024
Dec. 31, 2023
USD ($)
Debt Instrument [Line Items]            
Percentage of guarantors beneficial interest (in percent)     100.00%      
Proceeds used to repurchase and retire securities     $ 0 $ 0   $ 16,644
Mortgage loans | Rated secured borrowings            
Debt Instrument [Line Items]            
Number of securitizations outstanding | securitization     4      
Senior notes            
Debt Instrument [Line Items]            
Basis points 1.00%          
Senior notes | Senior Notes Due 2027            
Debt Instrument [Line Items]            
Aggregate principal   $ 110,000        
Interest rate (in percent) 9.875% 8.875%     8.875%  
Debt instrument, term (in years)   5 years        
Issuance amount, amount of par value (in percent)   0.99009        
Proceeds from unsecured notes payable   $ 106,100        
Proceeds used to repurchase and retire securities   $ 90,000        
Amount outstanding     $ 110,000 110,000    
Net asset value covenant     240,000      
Net asset value, plus the greater covenant     $ 0      
Net equity capital (in percent)     65.00%      
Outstanding indebtedness ratio     1.6      
Recourse indebtedness of equity interests ratio     4.0      
Minimum liquidity covenant     $ 30,000      
Notes Payable | Senior Notes Due 2027            
Debt Instrument [Line Items]            
Debt issuance costs, net     1,500 2,400    
Secured Debt            
Debt Instrument [Line Items]            
Debt issuance costs, net     $ 700 1,300    
Repurchase agreement            
Debt Instrument [Line Items]            
Interest rate (in percent)     4.83%      
Amount outstanding     $ 407,072 $ 356,565    
Servicing agreement | Minimum | Gregory            
Debt Instrument [Line Items]            
Servicing fee rate, loans securitization (in percent)     0.42%      
Mortgage Loan Repurchase Facility | Mortgage loans            
Debt Instrument [Line Items]            
Number of facilities repurchased | facility     2      
Number of outstanding facility | loanPool     1      
Mortgage Loan Repurchase Facility | Mortgage loans | Minimum            
Debt Instrument [Line Items]            
Percentage of purchase price for each mortgage loan or REO (in percent)     75.00%      
Mortgage Loan Repurchase Facility | Mortgage loans | Maximum            
Debt Instrument [Line Items]            
Percentage of purchase price for each mortgage loan or REO (in percent)     90.00%      
Mortgage Loan Repurchase Facility | Secured Debt            
Debt Instrument [Line Items]            
Number of facilities repurchased | facility     6      
Residential Loan Repurchase Facility | Commercial loans            
Debt Instrument [Line Items]            
Number of facilities repurchased | facility     1      
Residential Loan Repurchase Facility | Commercial loans | Minimum            
Debt Instrument [Line Items]            
Percentage of purchase price for each mortgage loan or REO (in percent)     75.00%      
Residential Loan Repurchase Facility | Commercial loans | Maximum            
Debt Instrument [Line Items]            
Percentage of purchase price for each mortgage loan or REO (in percent)     80.00%