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Consolidated Securitization Vehicles and Other Variable Interest Entities (Tables)
 9 Months Ended
Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Assets and Liabilities Related to the Consolidated VIEs The table below reflects the assets and liabilities recorded in the Consolidated Statements of Financial Condition related to the consolidated VIEs as of September 30, 2024 and December 31, 2023.
 September 30, 2024December 31, 2023
 (dollars in thousands)
Assets:  
Non-Agency RMBS, at fair value (1)
$241,017 $248,993 
Loans held for investment, at fair value10,142,236 10,184,538 
Accrued interest receivable51,702 52,712 
Other assets18,226 15,597 
Total Assets:$10,453,181 $10,501,840 
Liabilities:  
Securitized debt, collateralized by Non-Agency RMBS$72,174 $75,012 
Securitized debt at fair value, collateralized by Loans held for investment7,639,906 7,248,768 
Accrued interest payable24,155 23,310 
Other liabilities1,599 2,019 
Total Liabilities:$7,737,834 $7,349,109 
(1) September 30, 2024 and December 31, 2023 balances includes allowance for credit losses of $8 million and $6 million, respectively.
Schedule of Income, OTTI and Expense Amounts Related to Consolidated VIEs
Income and expense amounts related to consolidated VIEs recorded in the Consolidated Statements of Operations is presented in the tables below.
 For the Quarter Ended
 September 30, 2024September 30, 2023
 (dollars in thousands)
Interest income, Assets of consolidated VIEs$146,007 $153,710 
Interest expense, Non-recourse liabilities of VIEs71,668 75,902 
Net interest income$74,339 $77,808 
Increase (decrease) in provision for credit losses$(975)$(1,560)
Servicing fees$6,533 $7,199 

 
For the Nine Months Ended
 September 30, 2024September 30, 2023
 (dollars in thousands)
Interest income, Assets of consolidated VIEs$436,950 $443,286 
Interest expense, Non-recourse liabilities of VIEs214,483 208,678 
Net interest income$222,467 $234,608 
Increase (decrease) in provision for credit losses$1,760 $(3,519)
Servicing fees$19,965 $21,403