XML 71 R60.htm IDEA: XBRL DOCUMENT v3.25.1
Fair Value Measurements - Impact of Change in Fair Value on Each of the Financial Instruments Carried at Fair Value (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unrealized loss for contingent earn-out liability $ 1,100 $ 0
Non-Agency RMBS | Senior    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Gain/(Loss) on Change in Fair Value 226 197
Non-Agency RMBS | Subordinated    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Gain/(Loss) on Change in Fair Value 1,283 3,304
Non-Agency RMBS | Interest-only    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Gain/(Loss) on Change in Fair Value 9,835 (8,654)
Agency RMBS | Interest-only    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Gain/(Loss) on Change in Fair Value (604) (409)
Agency RMBS | Pass-through    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Gain/(Loss) on Change in Fair Value (731) 0
Agency RMBS | Agency RMBS - CMO    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Gain/(Loss) on Change in Fair Value 1,467 0
Agency CMBS | Interest-only    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Gain/(Loss) on Change in Fair Value 369 (455)
Agency CMBS | Project loans    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Gain/(Loss) on Change in Fair Value 639 3,075
Loans held for investment    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Gain/(Loss) on Change in Fair Value 151,931 74,026
Secured Financing Agreements, at fair value    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Gain/(Loss) on Change in Fair Value (6,174) 7,024
Securitized debt    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Gain/(Loss) on Change in Fair Value $ (28,247) $ (1,343)