Related Party (Tables)

3 Months Ended

Mar. 31, 2023

The following table provides details of financing that the Company has provided, in the form of secured promissory notes, to certain loan origination-related entities in which the Company also holds equity investments:


Effective Date of Promissory Note	Maturity Date of Promissory Note			Interest Rate as of		Outstanding Borrowings as of				Fair Value(1) as of
		Maximum Borrowing		March 31, 2023	December 31, 2022	March 31, 2023		December 31, 2022		March 31, 2023		December 31, 2022
		(In thousands)				(In thousands)
May 2021(2)	December 31, 2025	$	6,000	6.0%	6.0%	$	3,000	$	3,000	$	3,000	$	3,000
February 2022	January 31, 2025	500		7.0%	7.0%	500		475		500		475
November 2022(3)	January 31, 2025	500		n/a	10.0%	n/a		50		n/a		50
December 2022	December 16, 2024	3,500		15.0%	15.0%	1,176		515		1,176		515

(1)Classified as a Corporate loan and is included in Loans, at fair value on the Condensed Consolidated Balance Sheet.

(2)Convertible into non-voting equity interests, at the option of the borrower, at any time prior to maturity.

(3)During the three-month period ended March 31, 2023, the Company's debt and equity investments in this origination-related entity were written off as the Company determined its cost basis was non-recoverable; the Company recognized a net loss on its debt and equity investments of $(0.5) million (included in Realized gains (losses) on securities and loans, net on the Condensed Consolidated Statement of Operations) and $(0.1) million (included in Earnings (losses) from investments in unconsolidated entities on the Condensed Consolidated Statement of Operations), respectively.