CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 68,881	$ 110,459
Restricted cash	3,466	0
Loans held for investment ($658,956 and $892,166 related to consolidated VIEs, respectively)	1,812,773	2,126,524
Current expected credit loss reserve	(144,068)	(159,885)
Loans held for investment, net of current expected credit loss reserve	1,668,705	1,966,639
Loans held for sale ($38,981 related to consolidated VIEs as of December 31, 2023)	0	38,981
Investment in available-for-sale debt securities, at fair value	27,005	28,060
Real estate owned held for investment, net	140,912	83,284
Real estate owned held for sale ($14,509 related to consolidated VIEs as of September 30, 2024)	14,509	0
Other assets ($2,094 and $3,690 of interest receivable related to consolidated VIEs, respectively; $32,002 of other receivables related to consolidated VIEs as of December 31, 2023)	17,125	52,354
Total assets	1,940,603	2,279,777
LIABILITIES
Secured funding agreements	640,610	639,817
Notes payable	0	104,662
Secured term loan	127,828	149,393
Collateralized loan obligation securitization debt (consolidated VIEs)	574,896	723,117
Due to affiliate	4,106	4,135
Dividends payable	13,809	18,220
Other liabilities ($1,686 and $2,263 of interest payable related to consolidated VIEs, respectively)	15,601	14,584
Total liabilities	1,376,850	1,653,928
Commitments and contingencies (Note 8)
STOCKHOLDERS' EQUITY
Common stock, par value $0.01 per share, 450,000,000 shares authorized at September 30, 2024 and December 31, 2023 and 54,532,393 and 54,149,225 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	532	532
Additional paid-in capital	815,802	812,184
Accumulated other comprehensive income	190	153
Accumulated earnings (deficit)	(252,771)	(187,020)
Total stockholders' equity	563,753	625,849
Total liabilities and stockholders' equity	$ 1,940,603	$ 2,279,777