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Consolidation of Variable Interest Entities (Tables)
9 Months Ended
Sep. 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:

 

 

 

September 30, 2022

 

 

 

VIE of Business Purpose Residential Mortgage Loans

 

 

VIE of Residential Mortgage Loans

 

 

Total

 

Cash of consolidated VIEs

 

$

560

 

 

$

—

 

 

$

560

 

Restricted cash of consolidated VIEs (1)

 

 

29

 

 

 

1,925

 

 

 

1,954

 

Mortgage loans of consolidated VIEs, at fair value

 

 

3,750

 

 

 

199,706

 

 

 

203,456

 

Other assets of consolidated VIEs

 

 

689

 

 

 

724

 

 

 

1,413

 

Secured debt of consolidated VIEs, at fair value

 

 

(251

)

 

 

(182,085

)

 

 

(182,336

)

Other liabilities of consolidated VIEs

 

 

—

 

 

 

(265

)

 

 

(265

)

Net investment in consolidated VIEs

 

$

4,777

 

 

$

20,005

 

 

$

24,782

 

 

(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 September 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

 

 

3,599

 

 

 

3,757

 

 

 

(158

)

Total mortgage loans of consolidated VIE

 

$

3,750

 

 

$

3,908

 

 

$

(158

)

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 September 30, 2022:

 

 

 

Aggregate Fair Value

 

 

Aggregate Unpaid Principal Balance

 

 

Difference

 

Less than 90 days past due and in accrual status

 

$

198,876

 

 

$

232,353

 

 

$

(33,477

)

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

 

 

830

 

 

 

969

 

 

 

(139

)

Total mortgage loans of consolidated VIE

 

$

199,706

 

 

$

233,322

 

 

$

(33,616

)