FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Carrying Value and Fair Value of the Financial Assets and Liabilities

As of March 31, 2026 and December 31, 2025, the carrying amounts and fair values of the Company’s financial assets and liabilities recorded at cost are as follows ($ in thousands):

		As of
		March 31, 2026				December 31, 2025
	Level in Fair Value Hierarchy	Carrying Amount (1)		Fair Value		Carrying Amount (1)		Fair Value
Financial assets:
Loans held for investment	3	$	1,629,366	$	1,498,953	$	1,528,806	$	1,409,982
Loans held for sale	3	60,544		60,715		—		—
Financial liabilities:
Secured funding agreements	2	$	1,182,096	$	1,182,096	$	858,176	$	858,176
Secured term loan	3	89,538		89,203		89,360		88,686
Collateralized loan obligation securitization debt (consolidated VIEs)	2	—		—		99,921		95,766

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(1)Loans held for investment are presented at Carrying Value, which excludes the CECL Reserve.