CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 63,799	$ 110,459
Restricted cash	2,495	0
Loans held for investment ($551,955 and $892,166 related to consolidated VIEs, respectively)	1,656,688	2,126,524
Current expected credit loss reserve	(136,224)	(159,885)
Loans held for investment, net of current expected credit loss reserve	1,520,464	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	8,684	28,060
Real estate owned held for investment, net ($58,844 related to consolidated VIEs as of December 31, 2024)	139,032	83,284
Other assets ($1,991 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)	16,732	52,354
Total assets	1,751,206	2,279,777
LIABILITIES
Secured funding agreements	588,468	639,817
Notes payable	0	104,662
Secured term loan	128,062	149,393
Collateralized loan obligation securitization debt (consolidated VIEs)	455,839	723,117
Due to affiliate	3,790	4,135
Dividends payable	13,924	18,220
Other liabilities ($1,309 and $2,263 of interest payable related to consolidated VIEs, respectively)	20,991	14,584
Total liabilities	1,211,074	1,653,928
Commitments and contingencies (Note 9)
STOCKHOLDERS' EQUITY
Common stock, par value $0.01 per share, 450,000,000 shares authorized at December 31, 2024 and 2023 and 54,542,178 and 54,149,225 shares issued and outstanding at December 31, 2024 and 2023, respectively	532	532
Additional paid-in capital	816,923	812,184
Accumulated other comprehensive income (loss)	37	153
Accumulated earnings (deficit)	(277,360)	(187,020)
Total stockholders' equity	540,132	625,849
Total liabilities and stockholders' equity	$ 1,751,206	$ 2,279,777