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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 3,788 $ (3,436)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization of deferred financing costs 1,653 1,860
Depreciation and amortization expense 368 281
Stock-based compensation 645 650
Provision for credit losses related to loans held for investment 2,788 17,964
Change in valuation allowance related to loans held for sale (1,014) 0
Impairment loss on real estate owned 185 397
Loss (gain) on sale of real estate owned and property and equipment, net 181 (294)
Gain on extinguishment of debt (140) 0
Gain on equity securities (2,060) (229)
Change in deferred loan fees 446 (1,278)
Changes in operating assets and liabilities:    
Interest and fees receivable, net (79) (563)
Other assets 310 3,509
Due from borrowers, net (2,251) (1,666)
Accounts payable and accrued liabilities (960) 257
Advances from borrowers 1,764 (3,942)
Total adjustments and operating changes 1,836 16,946
NET CASH PROVIDED BY OPERATING ACTIVITIES 5,624 13,510
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of investment securities 0 (7,767)
Proceeds from the sale of investment securities 2,148 43,964
Purchase of interests in limited liability companies (5,742) (11,082)
Proceeds from investments in limited liability companies 18,517 0
Proceeds from sale of real estate owned 3,282 2,008
Acquisitions of and improvements to real estate owned (235) 0
Purchase of property and equipment (55) 26
Investments in developmental real estate (2,762) (2,482)
Principal disbursements for loans (125,609) (115,670)
Principal collections on loans 112,045 135,265
NET CASH PROVIDED BY INVESTING ACTIVITIES 1,589 44,262
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from lines of credit 58,840 0
Repayments on lines of credit (66,100) (26,292)
Proceeds from repurchase agreements 11,693 0
Repayments of repurchase agreements (37,576) (2,979)
Repayment of mortgage payable (63) (59)
Repayment of notes payable (56,845) (23,647)
Dividends paid on common shares (7,114) (14,159)
Dividends paid on Series A Preferred Stock (3,352) (3,187)
Proceeds from issuance of Senior Secured Notes 90,000 0
Payments of deferred financing costs (3,590) 0
Repurchase of common shares 0 (1,373)
Proceeds from issuance of common shares, net of expenses 0 2,050
Proceeds from issuance of Series A Preferred Stock, net of expenses 0 5,157
NET CASH USED IN FINANCING ACTIVITIES (14,107) (64,489)
NET DECREASE IN CASH AND CASH EQUIVALENTS (6,894) (6,717)
CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD 18,066 12,598
CASH AND CASH EQUIVALENTS – END OF PERIOD 11,172 5,881
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION    
Cash paid during the period for interest 17,072 19,852
Cash paid during the period for income tax 201 140
Real estate acquired in connection with foreclosure of certain mortgages 17,185 0
Loans held for sale transferred to loans held for investment 6,479 0
Developmental real estate acquired in settlement of loan held for investment 1,696 0
Developmental real estate transferred from real estate owned 4,250 0
Loans originated from sale of real estate owned $ 840 $ 0