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Loans and Investments - Investment Portfolio and Concentration of Credit Risk (Details)
9 Months Ended 12 Months Ended
Sep. 30, 2021
USD ($)
borrower
loan
Dec. 31, 2020
USD ($)
loan
borrower
Jun. 30, 2021
USD ($)
Mar. 31, 2021
USD ($)
Sep. 30, 2020
USD ($)
Jun. 30, 2020
USD ($)
Loans and Investments            
Loans and investments, gross $ 9,169,007,000 $ 5,475,082,000        
Allowance for credit losses (131,534,000) (148,329,000) $ (138,447,000)   $ (146,745,000) $ (152,811,000)
Unearned revenue (43,683,000) (40,885,000)        
Loans and investments, net $ 8,993,790,000 $ 5,285,868,000        
Percent of Total 100.00% 100.00%        
Loan Count | loan 476 328        
Wtd. Avg. Pay Rate (as a percent) 4.56% 5.23%        
Wtd. Avg. Remaining Months to Maturity 22 months 19 months 6 days        
Wtd. Avg. First Dollar LTV Ratio (as percent) 2.00% 4.00%        
Wtd. Avg. Last Dollar LTV Ratio (as percent) 76.00% 77.00%        
Credit risk concentration            
Loans and Investments            
Wtd. Avg. First Dollar LTV Ratio (as percent) 2.00%          
Wtd. Avg. Last Dollar LTV Ratio (as percent) 76.00%          
Credit risk concentration | Single-Family Rental            
Loans and Investments            
Percent of Total 3.00%          
Wtd. Avg. First Dollar LTV Ratio (as percent) 0.00%          
Wtd. Avg. Last Dollar LTV Ratio (as percent) 63.00%          
Total assets | Credit risk concentration            
Loans and Investments            
Loan Count | loan 32 22        
Number of different borrowers | borrower 5 5        
Total assets | Credit risk concentration | Five Borrowers            
Loans and Investments            
Concentration risk, percentage 11.00% 12.00%        
Bridge loans            
Loans and Investments            
Loans and investments, gross $ 8,696,486,000 $ 5,022,509,000        
Percent of Total 95.00% 92.00%        
Loan Count | loan 423 263        
Wtd. Avg. Pay Rate (as a percent) 4.45% 5.09%        
Wtd. Avg. Remaining Months to Maturity 20 months 21 days 16 months 6 days        
Wtd. Avg. First Dollar LTV Ratio (as percent) 0.00% 0.00%        
Wtd. Avg. Last Dollar LTV Ratio (as percent) 76.00% 76.00%        
Bridge loans | Single-Family Rental            
Loans and Investments            
Number of loans under the loan portfolio | loan 86 38        
Total loan commitment $ 614,300,000 $ 309,200,000        
Preferred equity investments            
Loans and Investments            
Loans and investments, gross $ 186,705,000 $ 159,242,000        
Percent of Total 2.00% 3.00%        
Loan Count | loan 13 29        
Wtd. Avg. Pay Rate (as a percent) 6.62% 7.40%        
Wtd. Avg. Remaining Months to Maturity 35 months 6 days 45 months        
Wtd. Avg. First Dollar LTV Ratio (as percent) 59.00% 32.00%        
Wtd. Avg. Last Dollar LTV Ratio (as percent) 89.00% 82.00%        
Mezzanine loans            
Loans and Investments            
Loans and investments, gross $ 256,413,000 $ 224,928,000        
Percent of Total 3.00% 4.00%        
Loan Count | loan 38 14        
Wtd. Avg. Pay Rate (as a percent) 6.83% 7.07%        
Wtd. Avg. Remaining Months to Maturity 53 months 15 days 49 months 24 days        
Wtd. Avg. First Dollar LTV Ratio (as percent) 30.00% 64.00%        
Wtd. Avg. Last Dollar LTV Ratio (as percent) 82.00% 89.00%        
Other loans            
Loans and Investments            
Loans and investments, gross $ 29,403,000 $ 68,403,000        
Percent of Total 1.00% 1.00%        
Loan Count | loan 2 22        
Wtd. Avg. Pay Rate (as a percent) 4.63% 4.95%        
Wtd. Avg. Remaining Months to Maturity 51 months 3 days 74 months 24 days        
Wtd. Avg. First Dollar LTV Ratio (as percent) 0.00% 0.00%        
Wtd. Avg. Last Dollar LTV Ratio (as percent) 69.00% 69.00%        
Other loans | Single-Family Rental            
Loans and Investments            
Number of loans under the loan portfolio | loan 2 22        
Unpaid principal balance, funded $ 277,300,000 $ 88,100,000        
Transfer of fixed rate SFR from Structured Business to Agency Business       $ 21    
Transfer of UPB from Structured Business To Agency Business       $ 65,200,000