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Consolidation of Variable Interest Entities (Tables)
6 Months Ended
Jun. 30, 2022
Variable Interest Entity [Line Items]  
Schedule of Carrying Values of Assets and Liabilities of Consolidated VIE, Net of Elimination Entries

The carrying values of the assets and liabilities of the consolidated VIEs, net of elimination entries, are as follows as of the dates indicated:

 

 

 

June 30, 2022

 

 

 

VIE of Business Purpose Residential Mortgage Loans

 

 

VIE of Residential Mortgage Loans

 

 

Total

 

Cash of consolidated VIEs

 

$

247

 

 

$

—

 

 

$

247

 

Restricted cash of consolidated VIEs (1)

 

 

13

 

 

 

4,636

 

 

 

4,649

 

Mortgage loans of consolidated VIEs, at fair value

 

 

4,548

 

 

 

220,456

 

 

 

225,004

 

Other assets of consolidated VIEs

 

 

657

 

 

 

744

 

 

 

1,401

 

Secured debt of consolidated VIEs, at fair value

 

 

(272

)

 

 

(205,225

)

 

 

(205,497

)

Other liabilities of consolidated VIEs

 

 

(1

)

 

 

(274

)

 

 

(275

)

Net investment in consolidated VIEs

 

$

5,192

 

 

$

20,337

 

 

$

25,529

 

 

(1)
Restricted cash represents cash collected by the trust that must be used solely to satisfy the liabilities of the VIE in the month following collection.

 

 

 

December 31, 2021

 

 

 

VIE of Business Purpose Residential Mortgage Loans

 

 

VIE of Residential Mortgage Loans

 

 

Total

 

Cash of consolidated VIEs

 

$

2,118

 

 

$

—

 

 

$

2,118

 

Restricted cash of consolidated VIEs (1)

 

 

111

 

 

 

—

 

 

 

111

 

Mortgage loans of consolidated VIEs, at fair value

 

 

7,442

 

 

 

—

 

 

 

7,442

 

Other assets of consolidated VIEs

 

 

547

 

 

 

—

 

 

 

547

 

Secured debt of consolidated VIEs, at fair value

 

 

(508

)

 

 

—

 

 

 

(508

)

Other liabilities of consolidated VIEs

 

 

(2

)

 

 

—

 

 

 

(2

)

Net investment in consolidated VIEs

 

$

9,708

 

 

$

—

 

 

$

9,708

 

 

(1)
Restricted cash represents cash collected by the trust that must be used solely to satisfy the liabilities of the VIE in the month following collection.
Business Purpose Residential Mortgage Loans  
Variable Interest Entity [Line Items]  
Schedule of Accrual Status of Residential Mortgage Loans of Consolidated VIE

The following table presents information about the accrual status of the loans of the Company’s consolidated VIE of business purpose residential mortgage loans as of June 30, 2022:

 

 

 

Aggregate Fair Value

 

 

Aggregate Unpaid Principal Balance

 

 

Difference

 

Less than 90 days past due and in accrual status

 

$

151

 

 

$

151

 

 

$

—

 

90 days or more past due and in non-accrual status

 

 

4,397

 

 

 

4,684

 

 

 

(287

)

Total mortgage loans of consolidated VIE

 

$

4,548

 

 

$

4,835

 

 

$

(287

)

Residential Mortgage Loans  
Variable Interest Entity [Line Items]  
Schedule of Accrual Status of Residential Mortgage Loans of Consolidated VIE

The following table presents information about the accrual status of the loans of the Company’s consolidated VIE of residential mortgage loans as of June 30, 2022:

 

 

 

Aggregate Fair Value

 

 

Aggregate Unpaid Principal Balance

 

 

Difference

 

Less than 90 days past due and in accrual status

 

$

219,118

 

 

$

236,145

 

 

$

(17,027

)

90 days or more past due and in non-accrual status

 

 

1,338

 

 

 

1,338

 

 

 

—

 

Total mortgage loans of consolidated VIE

 

$

220,456

 

 

$

237,483

 

 

$

(17,027

)