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Subsequent Events
12 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Residential Mortgage-Backed Notes

In February 2022, the Company completed its third securitization of $432.0 million of Residential Whole Loans, issuing $398.9 million of mortgage back notes, The mortgage backed notes were issued by Arroyo Mortgage Trust 2022-1 in five classes with a weighted average fixed interest rate of approximately 3.1% per annum.
Commercial Real Estate Owned
In February 2022, the Company and the other investors sold the unencumbered hotel property for $55.9 million which was foreclosed on in the third quarter of 2022. The Company and the other investors fully recovered their aggregate initial investment of $42.0 million. The Company estimates it will recognize a gain on sale of approximately $6.7 million, based on the December 31, 2021 carrying value.