Secured Borrowings (Tables)

12 Months Ended

Dec. 31, 2020

Secured Borrowings

Schedule of characteristics of secured borrowings

									Carrying Value at
Lender	Asset Class	Current Maturity	Pricing	Facility Size			Pledged Assets Carrying Value		December 31, 2020		December 31, 2019
JPMorgan	Acquired loans, SBA loans	June 2021	1M L + 2.25% to 2.875%	$	200,000		$	52,068	$	36,604	$	88,972
Keybank	Freddie Mac loans	February 2021	1M L + 1.30%		100,000			51,248		50,408		21,513
East West Bank	SBA loans	October 2022	Prime - 0.821% to + 0.29%		50,000			50,516		40,542		13,294
Credit Suisse	Acquired loans (non USD)	December 2021	Euribor + 2.50% to 3.00%		244,280	(a)		59,353		36,840		37,646
FCB	Acquired loans	June 2021	2.75%		—			—		—		1,354
Comerica Bank	Residential loans	March 2021	1M L + 1.75%		125,000			84,755		78,312		56,822
TBK Bank	Residential loans	October 2021	Variable Pricing		150,000			129,043		123,951		52,151
Origin Bank	Residential loans	June 2021	Variable Pricing		60,000			29,381		27,450		15,343
Associated Bank	Residential loans	November 2021	1M L + 1.50%		60,000			16,962		15,556		5,823
East West Bank	Residential MSRs	September 2023	1M L + 2.50%		50,000			50,941		34,400		39,900
Credit Suisse	Purchased future receivables, PPP loans	June 2021	1M L + 4.50%		150,000			—		—		34,900
Rabobank	Real estate	January 2021	4.22%		14,500			—		—		12,485
Federal Reserve Bank of Minneapolis	PPP loans	April 2022	0.35%		105,222			73,799		76,276		—
Bank of the Sierra	Real estate	August 2050	3.25% to 3.45%		22,750			32,948		22,611		—
Total borrowings under credit facilities (b)				$	1,331,752		$	631,014	$	542,950	$	380,203
Citibank	Fixed rate, Transitional, Acquired loans	October 2021	1M L + 2.50% to 3.25%	$	500,000		$	196,304	$	210,735	$	124,718
Deutsche Bank	Fixed rate, Transitional loans	November 2021	3M L + 2.00% to 2.40%		350,000			266,014		190,567		141,356
JPMorgan	Transitional loans	November 2022	1M L + 2.25% to 4.00%		400,000			375,035		247,616		250,466
JPMorgan	MBS	March 2021	1.54% to 4.75%		65,407			107,347		65,407		93,715
Deutsche Bank	MBS	January 2021	3.54%		16,354			20,189		16,354		44,730
Citibank	MBS	February 2021	3.25% to 3.75%		58,076			111,796		58,076		56,189
Bank of America	MBS	Matured	1.31% to 1.61%		—			—		—		38,954
RBC	MBS	February 2021	3.05% to 4.43%		38,814			59,620		38,814		59,061
Total borrowings under repurchase agreements (c)				$	1,428,651		$	1,136,305	$	827,569	$	809,189
Total secured borrowings				$	2,760,403		$	1,767,319	$	1,370,519	$	1,189,392

(a) The current facility size is €200.0 million, but has been converted into USD for purposes of this disclosure.

(b) The weighted average interest rate of borrowings under credit facilities was 2.8% and 4.0% as of December 31, 2020 and 2019, respectively.

(c) The weighted average interest rate of borrowings under repurchase agreements was 3.3% and 4.2% as of December 31, 2020 and 2019, respectively.

Schedule of carrying value of collateral pledged with respect to borrowings under credit facilities and promissory note payable outstanding

	​ Pledged Assets Carrying Value at
(In Thousands)	December 31, 2020		December 31, 2019
Collateral pledged - borrowings under credit facilities
Loans, held for sale, at fair value	$	313,844	$	159,928
Loans, net		159,482		276,810
Loans, held at fair value		73,799		—
Mortgage servicing rights		50,941		61,304
Purchased future receivables		—		43,265
Real estate, held for sale		32,948		19,950
Total	$	631,014	$	561,257
Collateral pledged - borrowings under repurchase agreements
Loans, net	$	815,603	$	721,887
Mortgage backed securities		72,179		113,436
Retained interest in assets of consolidated VIEs		226,773		271,880
Loans, held for sale, at fair value		17,850		—
Loans, held at fair value		3,071		—
Real estate acquired in settlement of loans		829		—
Total	$	1,136,305	$	1,107,203
Total collateral pledged on secured borrowings	$	1,767,319	$	1,668,460