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Real Estate Owned ("REO") (Tables) | 9 Months Ended
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Sep. 30, 2025
Real Estate [Abstract] |
Schedule of real estate owned | The following table presents the Company’s REO activity during the nine months ended September 30, 2025:
| (in thousands)
Real estate owned at December 31, 2024 | $ | 18,574 |
Principal basis transferred to real estate owned | 17,185 |
Investment in real estate owned | 235 |
Charge-offs on principal transferred | (8,344) |
Proceeds from sale of real estate owned | (3,282) |
Real estate owned transferred to investment in developmental real estate | (4,250) |
Loans origination from sale of real estate owned | (840) |
Impairment of real estate owned | (185) |
Loss on sale of real estate owned | (181) |
Real estate owned at September 30, 2025 | $ | 18,912 |
Schedule of future minimum rents | As of September 30, 2025, future minimum rents under non-cancelable operating leases were as follows:
Years Ending December 31, |  | Amount
|  | (in thousands)
2025 (remaining three months) |  | $ | — |
2026 |  | 936 |
2027 |  | 1,267 |
2028 |  | 1,292 |
2029 |  | 1,318 |
Thereafter |  | 8,852 |
Total |  | $ | 13,665 |
As of September 30, 2025, future minimum rents under this lease were as follows:
Years Ending December 31, |  | Amount
|  | (in thousands)
2025 (remaining three months) |  | $ | 18 |
2026 |  | 31 |
Total |  | $ | 49 |

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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12 + Details
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- Definition Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. + References No definition available. + Details
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