XML 51 R39.htm IDEA: XBRL DOCUMENT v3.25.2
COMMERCIAL MORTGAGE LOANS HELD-FOR-INVESTMENT - Additional Information (Details)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
USD ($)
loan
Mar. 31, 2025
USD ($)
Jun. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
contract
Financing Receivable, Credit Quality Indicator [Line Items]        
Average risk rating, moderate 3.5   3.5 3.5
Financing receivable, allowance for credit loss, period increase (decrease) $ 2,800,000      
Loans held for investment [1] $ 14,252,268   $ 14,252,268 $ 11,320,220
Number of loans foreclosed in period | loan 2      
Maximum        
Financing Receivable, Credit Quality Indicator [Line Items]        
Capitalization rate assumption percentage     7.40%  
Minimum        
Financing Receivable, Credit Quality Indicator [Line Items]        
Capitalization rate assumption percentage     5.50%  
Risk rating, 5        
Financing Receivable, Credit Quality Indicator [Line Items]        
Unpaid principal balance of default risk loans $ 104,500,000   $ 104,500,000  
Amortized cost of default risk loans 96,700,000   96,700,000  
Fair value of default risk loans $ 96,800,000   96,800,000  
Risk rating, 5 | Dallas, TX        
Financing Receivable, Credit Quality Indicator [Line Items]        
Outstanding principal balance     31,900,000  
Principal payment amount     $ 2,000,000.0  
Term extention period     2 years  
Risk rating, 5 | Dallas, TX | Maximum        
Financing Receivable, Credit Quality Indicator [Line Items]        
Credit spread percentage     3.90%  
Risk rating, 5 | Dallas, TX | Minimum        
Financing Receivable, Credit Quality Indicator [Line Items]        
Credit spread percentage     3.40%  
Commercial Real Estate Portfolio Segment | Risk rating, 3        
Financing Receivable, Credit Quality Indicator [Line Items]        
Average risk rating, percentage 63.00%   63.00% 63.70%
Commercial loans that paid off     $ 94,600,000  
Transition of commercial loans held for sale to a lower risk rating     88,100,000  
Transition of commercial loans held for sale to a risk rating two steps lower     29,600,000  
Commercial Real Estate Portfolio Segment | Risk rating, 4        
Financing Receivable, Credit Quality Indicator [Line Items]        
Commercial loans that paid off     21,500,000  
Transition of commercial loans held for sale to a lower risk rating     21,100,000  
Transition of commercial loans held for sale to a higher risk rating     75,900,000  
Commercial loans held for sale foreclosed and moved to REO     11,500,000  
Commercial Real Estate Portfolio Segment | Risk rating, 5        
Financing Receivable, Credit Quality Indicator [Line Items]        
Commercial loans that paid off     2,000,000  
Transition of commercial loans held for sale to a higher risk rating     44,600,000  
Transition of commercial loans held for sale to a risk rating two steps higher     49,400,000  
Commercial loans held for sale foreclosed and moved to REO     15,400,000  
Commercial Real Estate Portfolio Segment | Risk rating, 2        
Financing Receivable, Credit Quality Indicator [Line Items]        
Commercial loans that paid off     3,600,000  
Transition of commercial loans held for sale to a lower risk rating     18,900,000  
Commercial Real Estate Portfolio Segment | Risk Level, Monetary Default Default Risk | Orlando, FL | Multifamily        
Financing Receivable, Credit Quality Indicator [Line Items]        
Transition of commercial loans held for sale to a risk rating two steps higher     19,600,000  
Commercial Real Estate Portfolio Segment | Risk Level, Monetary Default Default Risk | Colorado Springs, CO | Multifamily        
Financing Receivable, Credit Quality Indicator [Line Items]        
Transition of commercial loans held for sale to a risk rating two steps higher     10,500,000  
Transition of commercial loans held for sale to a risk rating allowance after analysis two steps higher     800,000  
Recognized interest on loan $ 100,000   100,000  
Commercial Real Estate Portfolio Segment | Risk Level, Monetary Default Default Risk | Clarkston, GA | Multifamily        
Financing Receivable, Credit Quality Indicator [Line Items]        
Transition of commercial loans held for sale to a risk rating two steps higher     24,500,000  
Transition of commercial loans held for sale to a risk rating allowance after analysis two steps higher     3,800,000  
Commercial Real Estate Portfolio Segment | Risk Level, Monetary Default Default Risk | Ypsilanti, MI | Multifamily        
Financing Receivable, Credit Quality Indicator [Line Items]        
Transition of commercial loans held for sale to a risk rating two steps higher     11,900,000  
Transition of commercial loans held for sale to a risk rating allowance after analysis two steps higher     2,900,000  
Commercial Real Estate Portfolio Segment | Risk Level, Monetary Default Default Risk | Cedar Park, TX | Multifamily        
Financing Receivable, Credit Quality Indicator [Line Items]        
Transition of commercial loans held for sale to a risk rating two steps higher     13,700,000  
Recognized interest on loan 100,000      
Commercial Real Estate Portfolio Segment | Risk Level, Monetary Default Default Risk | San Antonio, TX | Multifamily        
Financing Receivable, Credit Quality Indicator [Line Items]        
Transition of commercial loans held for sale to a risk rating two steps higher     26,600,000 $ 15,400,000
Transition of commercial loans held for sale to a risk rating allowance after analysis two steps higher     200,000 2,400,000
Commercial Real Estate Portfolio Segment | Risk Level, Monetary Default Default Risk | San Antonio, TX | Multifamily        
Financing Receivable, Credit Quality Indicator [Line Items]        
Transition of commercial loans held for sale to a risk rating two steps higher     9,100,000  
Commercial Real Estate Portfolio Segment | Risk Level, Monetary Default Default Risk | Des Moines, IA | Multifamily        
Financing Receivable, Credit Quality Indicator [Line Items]        
Transition of commercial loans held for sale to a risk rating two steps higher     $ 8,200,000  
Recognized interest on loan $ 0      
Commercial Real Estate Portfolio Segment | Risk Level, Monetary Default Default Risk | Dallas, TX | Multifamily        
Financing Receivable, Credit Quality Indicator [Line Items]        
Transition of commercial loans held for sale to a risk rating two steps higher       31,600,000
Commercial Real Estate Portfolio Segment | Risk Level, Monetary Default Default Risk | Polk Country, FL | Multifamily        
Financing Receivable, Credit Quality Indicator [Line Items]        
Transition of commercial loans held for sale to a risk rating two steps higher       6,100,000
Transition of commercial loans held for sale to a risk rating allowance after analysis two steps higher       $ 600,000
Number of health properties | contract       2
Commercial Real Estate Portfolio Segment | Risk Level, Monetary Default Default Risk | Philadelphia, PA | Multifamily        
Financing Receivable, Credit Quality Indicator [Line Items]        
Transition of commercial loans held for sale to a risk rating two steps higher       $ 15,000,000.0
Transition of commercial loans held for sale to a risk rating allowance after analysis two steps higher       $ 100,000
Commercial Real Estate Portfolio Segment | Risk Level, Monetary Default Default Risk | Houston, TX | Multifamily        
Financing Receivable, Credit Quality Indicator [Line Items]        
Transition of commercial loans held for sale to a risk rating two steps higher   $ 11,500,000    
Transition of commercial loans held for sale to a risk rating allowance after analysis two steps higher   $ 500,000    
[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company was the primary beneficiary of these VIEs. As of June 30, 2025 and December 31, 2024, assets of consolidated VIEs totaled $934,090,475 and $1,058,138,406, respectively and the liabilities of consolidated VIEs totaled $712,768,638 and $831,001,605 respectively. See Note 4 for further discussion.