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Schedule IV - Mortgage Loans on Real Estate
 12 Months Ended
Dec. 31, 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]  
Schedule IV - Mortgage Loans on Real Estate
$ in thousands
Asset Type		DescriptionNumber of
Loans		Interest
Rate		Maturity
Date
Periodic Payment Terms(1)
Prior
Liens		Face
Amount of
Mortgages
Carrying
Amount of
Mortgages(4)
Principal
Amount of
Loans Subject to
Delinquent
Principal or
Interest
Residential Whole-Loans and Bridge Loans
Adjustable Rate Residential Mortgage Loan Held in Securitization Trusts
Original Loan Balance $0 - $249,999
434
Hybrid ARM 2.5% to 6.4%
11/01/2041 to 11/01/2051P&I$— $65,285 $68,209 $— 
Adjustable Rate Residential Mortgage Loan Held in Securitization Trusts
Original Loan Balance $250,000 - $499,999
656
Hybrid ARM 2.7% to 5.9%
11/01/2034 to 02/01/2055P&I— 213,403 222,038 769 
Adjustable Rate Residential Mortgage Loan Held in Securitization Trusts
Original Loan Balance $500,000 - $749,999
237
Hybrid ARM 2.5% to 6.3%
04/01/2043 to 11/01/2051P&I— 133,682 138,503 1,115 
Adjustable Rate Residential Mortgage Loan Held in Securitization Trusts
Original Loan Balance $750,000 - $999,999
100
Hybrid ARM 3.4% to 6.2%
05/01/2043 to 11/01/2051P&I— 79,399 82,331 790 
Adjustable Rate Residential Mortgage Loan Held in Securitization Trusts
Original Loan Balance $1,000,000 - $1,249,999
35
Hybrid ARM 3.5% to 5.8%
09/01/2043 to 11/01/2051P&I— 35,905 37,080 989 
Adjustable Rate Residential Mortgage Loan Held in Securitization Trusts
Original Loan Balance $1,250,000 - $1,499,999
22
Hybrid ARM 3.4% to 5.6%
12/01/2041 to 11/01/2051P&I— 27,586 28,451 — 
Adjustable Rate Residential Mortgage Loan Held in Securitization Trusts
Original Loan Balance $1,500,000 and above
17
Hybrid ARM 2.9% to 6.1%
05/01/2044 to 09/01/2051P&I— 30,896 32,043 1,557 
Fixed Rate Residential Mortgage Loan Held in Securitization Trusts
Original Loan Balance $0 - $249,999
232
Fixed 3.7% to 7.1%
07/01/2026 to 11/01/2051P&I— 35,329 36,951 229 
Fixed Rate Residential Mortgage Loan Held in Securitization Trusts
Original Loan Balance $250,000 - $499,999
301
Fixed 2.9% to 7.2%
09/01/2026 to 11/01/2051P&I— 106,453 109,780 2,064 
Fixed Rate Residential Mortgage Loan Held in Securitization Trusts
Original Loan Balance $500,000 - $749,999
181
Fixed 2.5% to 6.1%
11/01/2033 to 11/01/2055P&I— 106,729 109,372 1,625 
Fixed Rate Residential Mortgage Loan Held in Securitization Trusts
Original Loan Balance $750,000 - $999,999
78
Fixed 2.9% to 6.4%
11/01/2033 to 11/01/2051P&I— 66,170 67,992 805 
Fixed Rate Residential Mortgage Loan Held in Securitization Trusts
Original Loan Balance $1,000,000 - $1,249,999
31
Fixed 2.9% to 5.9%
04/01/2048 to 11/01/2051P&I— 33,311 34,236 — 
Fixed Rate Residential Mortgage Loan Held in Securitization Trusts
Original Loan Balance $1,250,000 - $1,499,999
22
Fixed 2.7% to 6.3%
02/01/2036 to 11/01/2051P&I— 28,497 29,285 — 
Fixed Rate Residential Mortgage Loan Held in Securitization Trusts
Original Loan Balance $1,500,000 and above
15
Fixed 3.1% to 5.7%
10/01/2048 to 11/01/2051P&I— 26,498 27,231 2,271 
$ in thousands
Asset Type		DescriptionNumber of
Loans		Interest
Rate		Maturity
Date
Periodic Payment Terms(1)
Prior
Liens		Face
Amount of
Mortgages
Carrying
Amount of
Mortgages(4)
Principal
Amount of
Loans Subject to
Delinquent
Principal or
Interest
Fixed Rate Residential Bridge Loans Held in Securitization Trusts
Original Loan Balance $0 - $249,999
3
Fixed 9.8% to 12.3%
11/01/2019 to 12/31/2021
Interest Only(2)
— 324 400 144 
Fixed Rate Residential Bridge Loans Held in Securitization Trusts
Original Loan Balance $250,000 - $499,999
1
Fixed 11.3%
12/31/2021
Interest Only(2)
— 420 378 420 
Fixed Rate Residential Bridge Loans Held in Securitization Trusts
Original Loan Balance $750,000 - $999,999
3
Fixed 8.5% to 10%
12/31/2021 to 01/01/2022
Interest Only(2)
— 2,670 2,473 1,821 
Fixed Rate Residential Bridge Loans Held in Securitization Trusts
Original Loan Balance $1,000,000 - $1,249,999
1
Fixed 9%
12/31/2021
Interest Only(2)
— 1,125 1,012 1,125 
Fixed Rate Residential Bridge Loans Held in Securitization Trusts
Original Loan Balance $1,250,000 - $1,499,999
1
Fixed 10.8%
12/31/2021
Interest Only(2)
— 1,295 1,165 1,295 
Total Residential Whole-Loans and Bridge Loans$— $994,977 $1,028,930 $17,019 
Commercial Loans
Commercial Loan Held in Securitization Trust
Original Loan Balance $32,000,000
1
LIBOR + 4.1%
07/06/2022
Interest Only(3)
$— $14,362 $14,362 $— 
Commercial Loan
Original Loan Balance $90,000,000
1
LIBOR + 9.25%
06/29/2021
Interest Only(3)
— 90,000 29,113 90,000 
Commercial Loan
Original Loan Balance $40,000,000
1
LIBOR + 3.02%
08/06/2022
Interest Only(3)
— 38,367 38,267 — 
Commercial Loan
Original Loan Balance $13,206,521
1
LIBOR + 3.75%
11/06/2022
Interest Only(3)
— 13,207 13,033 — 
Commercial Loan
Original Loan Balance $24,534,783
1
LIBOR + 3.75%
11/06/2022
Interest Only(3)
— 24,535 24,212 — 
Commercial Loan
Original Loan Balance $7,258,696
1
LIBOR + 3.75%
11/06/2022
Interest Only(3)
— 7,259 7,163 — 
Commercial Loan
Original Loan Balance $4,425,400
1
LIBOR + 4.85%
12/06/2022
Interest Only(3)
— 4,429 4,422 — 
Total Commercial Loans$— $192,159 $130,572 $90,000 
Securitized Commercial Loans
Commercial Loan Held in Securitization Trust
Original Loan Balance $1,400,000,000
1
Fixed 4.38%
09/15/2025
Interest Only(3)
— 1,385,591 1,355,808 — 
Total Securitized Commercial Loans$— $1,385,591 $1,355,808 $— 
Total Residential and Commercial Loans$— $2,572,727 $2,515,310 $107,019 

(1) Principal and interest ("P&I")
(2) Residential Bridge Loans are mainly interest only loans with a balloon payment at maturity.
(3) The borrower may prepay the commercial loan in whole or in part at any time in accordance with the terms of the loan agreement.
(4) The carrying value of the reflects the fair value of the mortgage loans.
Reconciliation of Carrying Value of Mortgage Loans on Real Estate:
 202120202019
Beginning balance$2,938,556 $2,691,532 $2,493,238 
Additions during period:   
New mortgage loans427,848 113,340 2,042,587 
Unrealized gains100,598 — 21,291 
Realized gains35 — — 
Capitalized interest485 829 — 
Mortgage loan of consolidated VIE— 1,245,287 — 
Deductions during period:   
Collections of principal872,612 713,854 1,853,630 
Transfer to REO30,751 419 5,029 
Amortization of premium and (discounts), net(15,053)(4,805)5,247 
Unrealized losses63,661 97,089 1,191 
Sales of mortgage loans— 144,259 — 
Realized losses241 10,812 487 
Mortgage loan of deconsolidated VIE— 150,804 — 
Balance at end of period$2,515,310 $2,938,556 $2,691,532