USE OF SPECIAL PURPOSE ENTITIES AND VARIABLE INTEREST ENTITIES - Summary of Loan and Borrowing Characteristics (Details)		12 Months Ended
		Dec. 31, 2023 USD ($) mortgageLoan contract instrument	Dec. 31, 2022 USD ($) instrument mortgageLoan contract
Variable Interest Entity [Line Items]
Collateralized loan obligations, net	[1]	$ 1,146,210,752	$ 829,310,498
One Month LIBOR Rate (percent)			4.18%
One Month SOFR Rate (percent)		5.33%	4.19%
Weighted average LIBOR floor rate (percent)		0.38%	0.25%
Weighted average, floating rate loan, percentage (percent)			77.40%
Basis spread on one-month LIBOR (percent)		1.99%	1.43%
One-Month LIBOR Rate
Variable Interest Entity [Line Items]
One Month LIBOR Rate (percent)			4.32%
Weighted average, floating rate loan, percentage (percent)		100.00%	80.40%
Secured​ Overnight ​Financing​ Rate
Variable Interest Entity [Line Items]
Weighted average, floating rate loan, percentage (percent)			19.60%
30-Day SOFR
Variable Interest Entity [Line Items]
30-Day SOFR Rate		0.0536
Commercial Real Estate Portfolio Segment
Variable Interest Entity [Line Items]
Number of Loans | mortgageLoan		88	71
Carrying Value		$ 1,389,940,203	$ 1,076,148,186
Net of purchase discounts		$ 7,000,863	$ 0
Weighted average, floating rate loan, percentage (percent)			100.00%
LFT CRE 2021-FL1, Ltd.
Variable Interest Entity [Line Items]
Number of notes issued | instrument		2
LFT CRE 2021-FL1, Ltd. | London Interbank Offered Rate (LIBOR)
Variable Interest Entity [Line Items]
Weighted average yield (percent)		8.91%
Weighted average yield (percent)		7.35%
LFT CRE 2021-FL1, Ltd. | Commercial Real Estate Portfolio Segment
Variable Interest Entity [Line Items]
Number of Loans | contract		87
Hunt CRE 2017-FL1, Ltd. and Hunt CRE 2018-FL2, Ltd.
Variable Interest Entity [Line Items]
Number of notes issued | instrument			1
Collateralized loan obligations, net		$ 1,146,210,752	$ 829,310,498
Hunt CRE 2017-FL1, Ltd. and Hunt CRE 2018-FL2, Ltd. | London Interbank Offered Rate (LIBOR)
Variable Interest Entity [Line Items]
Weighted average yield (percent)			7.60%
Weighted average yield (percent)			5.75%
Hunt CRE 2017-FL1, Ltd. and Hunt CRE 2018-FL2, Ltd. | Commercial Real Estate Portfolio Segment
Variable Interest Entity [Line Items]
Number of Loans | contract			64
Principal Value
Variable Interest Entity [Line Items]
Collateralized loan obligations, net		1,151,450,000	$ 833,750,000
Principal Value | LFT CRE 2021-FL1, Ltd.
Variable Interest Entity [Line Items]
Carrying Value		1,388,495,984
Collateralized loan obligations, net		1,151,450,000
Net of purchase discounts		7,159,664
Principal Value | Hunt CRE 2017-FL1, Ltd. and Hunt CRE 2018-FL2, Ltd.
Variable Interest Entity [Line Items]
Carrying Value			996,492,150
Collateralized loan obligations, net			833,750,000
Carrying Value
Variable Interest Entity [Line Items]
Collateralized loan obligations, net			829,310,498
Carrying Value | LFT CRE 2021-FL1, Ltd.
Variable Interest Entity [Line Items]
Carrying Value		1,375,277,312
Collateralized loan obligations, net		1,146,210,752
Debt issuance costs		1,911,547	4,439,502
Carrying Value | Hunt CRE 2017-FL1, Ltd. and Hunt CRE 2018-FL2, Ltd.
Variable Interest Entity [Line Items]
Carrying Value			996,511,403
Collateralized loan obligations, net			829,310,498
Net of purchase discounts			0
Carrying Value | LMF 2023-1 Financing
Variable Interest Entity [Line Items]
Debt issuance costs		$ 3,327,701	$ 3,327,701

[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 December 31, 2023 and December 31, 2022, assets of the consolidated VIEs totaled $1,384,136,334 and $1,005,507,371, respectively and the liabilities of consolidated VIEs totaled $1,150,207,290 and $831,575,144, respectively. See Note 4 for further discussion.