XML 65 R52.htm IDEA: XBRL DOCUMENT v3.22.1
DEBT - Disclosures (Details)
1 Months Ended 3 Months Ended 6 Months Ended 10 Months Ended 12 Months Ended 18 Months Ended
Dec. 14, 2020
Nov. 30, 2019
USD ($)
loan
extension
Nov. 30, 2021
USD ($)
Jun. 30, 2019
USD ($)
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
USD ($)
extension
Mar. 31, 2021
USD ($)
Nov. 12, 2025
Oct. 31, 2021
Nov. 12, 2026
Nov. 12, 2026
Dec. 31, 2021
USD ($)
Funding agreements                          
Line of credit facility, maximum borrowing capacity             $ 1,453,480,000           $ 1,481,755,000
Number of non-recourse notes | loan   2                      
Outstanding balance             $ 912,857,000           1,041,157,000
Maximum                          
Funding agreements                          
Extension period of maturity date             12 months            
Notes Payable                          
Funding agreements                          
Number of extension periods available for maturity date | extension   2                      
Extension period of maturity date   12 months                      
Interest rate margin (as a percent)             3.75%            
Outstanding balance   $ 23,500,000         $ 22,800,000            
Secured term loan                          
Funding agreements                          
Line of credit facility, maximum borrowing capacity             150,000,000           150,000,000
Outstanding balance             150,000,000           $ 150,000,000
Aggregate principal amount     $ 150,000,000       $ 150,000,000            
Debt discount on initial draw down (as a percent)             4.60% 5.10%          
Secured term loan | Forecast                          
Funding agreements                          
Interest rate during period                 4.50%        
Interest rate, increase (decrease)                     0.125%    
Interest rate, quarterly increase                       0.25%  
Secured term loan | LIBOR                          
Funding agreements                          
Interest rate margin (as a percent)     0.50%             5.00%      
Interest rate, increase (decrease)             0.125%            
Secured term loan | LIBOR | Forecast                          
Funding agreements                          
Interest rate, increase (decrease)         0.75% 0.375%              
Wells Fargo Facility | Secured revolving funding facility                          
Funding agreements                          
Line of credit facility, maximum borrowing capacity             $ 450,000,000            
Wells Fargo Facility | Secured revolving funding facility | Minimum | 30 day LIBOR                          
Funding agreements                          
Interest rate margin (as a percent) 1.50%                        
Wells Fargo Facility | Secured revolving funding facility | Maximum | 30 day LIBOR                          
Funding agreements                          
Interest rate margin (as a percent) 2.75%                        
Wells Fargo Facility | Revolving credit facility, optional commitment amount                          
Funding agreements                          
Line of credit facility, maximum borrowing capacity             $ 500,000,000            
Number of extension periods available for maturity date | extension             3,000,000            
Extension period of maturity date             12 months            
Wells Fargo Facility | Revolving Credit Facility - Optional Funding Period                          
Funding agreements                          
Number of extension periods available for maturity date | extension             1            
Extension period of maturity date             12 months            
Citibank Facility | Secured revolving funding facility                          
Funding agreements                          
Line of credit facility, maximum borrowing capacity             $ 325,000,000            
Number of extension periods available for maturity date | extension             2            
Extension period of maturity date             12 months            
Non-utilization fee on average available balance (basis points)             0.25%            
Non-utilization fee             $ 11,000 $ 159,000          
Facility used on average (at least) (as a percent)             75.00%            
Citibank Facility | Secured revolving funding facility | Minimum | 30 day LIBOR                          
Funding agreements                          
Interest rate margin (as a percent)             1.50%            
Citibank Facility | Secured revolving funding facility | Maximum | 30 day LIBOR                          
Funding agreements                          
Interest rate margin (as a percent)             2.10%            
CNB Facility | CNB Facility                          
Funding agreements                          
Line of credit facility, maximum borrowing capacity             $ 75,000,000            
Non-utilization fee             $ 70,000 27,000          
CNB Facility | CNB Facility | LIBOR                          
Funding agreements                          
Interest rate margin (as a percent)             2.65%            
CNB Facility | CNB Facility | One-month LIBOR                          
Funding agreements                          
Interest rate margin (as a percent)             1.00%            
CNB Facility | CNB Facility | Federal funds rate                          
Funding agreements                          
Interest rate margin (as a percent)             0.50%            
Non-utilization fee on average available balance (basis points)             0.375%            
Facility used on average (at least) (as a percent)             75.00%            
CNB Facility | CNB Facility | SOFR                          
Funding agreements                          
Interest rate margin (as a percent)             1.00%            
CNB Facility | CNB Facility | Minimum | SOFR                          
Funding agreements                          
Interest rate margin (as a percent)             0.35%            
CNB Facility | CNB Facility | Maximum | SOFR                          
Funding agreements                          
Interest rate margin (as a percent)             2.65%            
CNB Facility | Revolving Credit Facility - Optional Funding Period                          
Funding agreements                          
Extension period of maturity date             12 months            
MetLife Facility | Secured revolving funding facility                          
Funding agreements                          
Non-utilization fee on average available balance (basis points)             0.25%            
Non-utilization threshold percentage (less than) (as a percent)             65.00%            
MetLife Facility | CNB Facility                          
Funding agreements                          
Non-utilization fee             $ 60,000 $ 0          
MetLife Facility | Revolving master repurchase facility                          
Funding agreements                          
Line of credit facility, maximum borrowing capacity             $ 180,000,000            
Number of extension periods available for maturity date | extension             2            
Extension period of maturity date             12 months            
MetLife Facility | Revolving master repurchase facility | 30 day LIBOR                          
Funding agreements                          
Interest rate margin (as a percent)             2.50%            
Morgan Stanley Facility | Revolving master repurchase facility                          
Funding agreements                          
Line of credit facility, maximum borrowing capacity             $ 250,000,000            
Number of extension periods available for maturity date | extension             2            
Extension period of maturity date             12 months            
Morgan Stanley Facility | Revolving master repurchase facility | 30 day LIBOR                          
Funding agreements                          
Interest rate margin (as a percent)             2.25%            
Morgan Stanley Facility | Revolving master repurchase facility | Minimum | 30 day LIBOR                          
Funding agreements                          
Interest rate margin (as a percent)             1.75%            
NEW YORK | Notes Payable, Due June 10, 2024                          
Funding agreements                          
Interest rate margin (as a percent)             3.00%            
NEW YORK | Notes Payable | Notes Payable, Due June 10, 2024                          
Funding agreements                          
Number of extension periods available for maturity date | extension             1            
Extension period of maturity date             6 months            
Interest expense from real estate owned       $ 28,300,000                  
SOUTH CAROLINA | Notes Payable                          
Funding agreements                          
Outstanding balance   $ 34,600,000