Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash Flows from Operating Activities:
Net income	$ 309,755	$ 333,517
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred financing costs, premiums and discounts on secured borrowings	37,765	38,596
Amortization of discounts and deferred financing costs on unsecured senior notes	7,824	6,978
Accretion of net discount on investment securities	(4,047)	(7,119)
Accretion of net deferred loan fees and discounts	(49,431)	(51,031)
Share-based compensation	31,502	31,055
Manager fees paid in stock	21,061	15,322
Change in fair value of investment securities	(504)	(353)
Change in fair value of consolidated VIEs	63,753	(26,879)
Change in fair value of servicing rights	(782)	(398)
Change in fair value of loans	(150,279)	111,247
Change in fair value of affordable housing fund investments	28,011	(218,182)
Change in fair value of derivatives	43,239	(55,990)
Foreign currency (gain) loss, net	(24,436)	18,293
Gain on sale of investments and other assets	(100,278)	(15,486)
Impairment charges on properties and related intangibles	0	23,856
Credit loss provision, net	144,975	217,753
Depreciation and amortization	33,803	40,870
Earnings from unconsolidated entities	(9,694)	(11,378)
Distributions of earnings from unconsolidated entities	3,910	8,049
Loss on extinguishment of debt	2,801	2,256
Origination and purchase of loans held-for-sale, net of principal collections	(1,040,306)	(226,656)
Proceeds from sale of loans held-for-sale	1,061,590	294,951
Changes in operating assets and liabilities:
Related-party payable	(19,274)	(16,904)
Accrued and capitalized interest receivable, less purchased interest	(67,535)	(97,034)
Other assets	17,622	2,103
Accounts payable, accrued expenses and other liabilities	9,961	99,307
Net cash provided by operating activities	351,006	516,743
Cash Flows from Investing Activities:
Origination, purchase and funding of loans held-for-investment	(2,069,876)	(1,659,857)
Proceeds from principal collections on loans	3,528,602	2,390,121
Proceeds from loans sold	47,149	95,282
Purchase and funding of investment securities	(64,486)	(6,988)
Proceeds from sales and redemptions of investment securities	3,690	1,722
Proceeds from principal collections on investment securities	82,317	87,679
Proceeds from sales of real estate, net of debt assumed by purchaser	216,825	60,955
Purchases and additions to properties and other assets	(20,941)	(19,662)
Investments in unconsolidated entities	(338)	(2,514)
Distribution of capital from unconsolidated entities	5,494	4,788
Cash resulting from foreclosures and initial consolidation of entities	1,054	123
Payments for purchase or termination of derivatives	(12,330)	(28,220)
Proceeds from termination of derivatives	29,253	19,729
Net cash provided by investing activities	1,746,413	943,158
Cash Flows from Financing Activities:
Proceeds from borrowings	4,408,393	4,934,444
Principal repayments on and repurchases of borrowings	(6,102,395)	(5,908,393)
Payment of deferred financing costs	(41,428)	(13,873)
Net proceeds from issuance of common stock	394,869	2,522
Payment of dividends	(457,210)	(450,507)
Contributions from non-controlling interests	3,786	0
Distributions to non-controlling interests	(34,254)	(29,093)
Issuance of debt of consolidated VIEs	12,923	0
Repayment of debt of consolidated VIEs	(126,392)	(318)
Distributions of cash from consolidated VIEs	43,972	54,071
Net cash used in financing activities	(1,897,736)	(1,411,147)
Net increase in cash, cash equivalents and restricted cash	199,683	48,754
Cash, cash equivalents and restricted cash, beginning of period	311,972	382,133
Effect of exchange rate changes on cash	(1,519)	383
Cash, cash equivalents and restricted cash, end of period	510,136	431,270
Supplemental disclosure of cash flow information:
Cash paid for interest	994,570	1,016,636
Income taxes paid, net	1,735	1,889
Supplemental disclosure of non-cash investing and financing activities:
Dividends declared with respect to the third quarter, but not yet paid	162,571	150,825
Consolidation of VIEs (VIE asset/liability additions)	1,920,430	0
Deconsolidation of VIEs (VIE asset/liability reductions)	891,495	0
Net assets acquired through foreclosure, control or conversion to equity interest:
Assets acquired, less cash	180,352	40,897
Liabilities assumed	2,859	74
Debt assumed by purchaser in sale of real estate	(194,900)	0
Reclassification of loans held-for-investment to loans held-for-sale	48,695	41,392
Loan principal collections temporarily held at master servicer	$ 3,373	$ 190,405