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Investments in unconsolidated equity method affiliates (Tables)
 12 Months Ended
Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments
The following table details the summarized balance sheets for the Company’s unconsolidated ownership interests in affiliates accounted for using the equity method as of December 31, 2022 and 2021 (in thousands):
December 31, 2022December 31, 2021
 AG Arc (1)Non-QM Loans (2)Land Related Financing (3)OtherTotal
Assets  
Loans and real estate securities, at fair value$48,641 $69,672 $21,881 $34,664 $174,858 $559,397 
Mortgage servicing rights, at fair value91,569 — — — 91,569 67,859 
Cash and cash equivalents20,821 5,518 137 651 27,127 34,794 
Restricted cash349 — — 110 459 1,970 
Other assets (4)45,182 1,070 278 77 46,607 76,676 
Total Assets$206,562 $76,260 $22,296 $35,502 $340,620 $740,696 
Liabilities
Financing arrangements$63,764 $36,800 $— $19,446 $120,010 $448,342 
Other liabilities (4)53,818 32 — 181 54,031 78,245 
Total Liabilities117,582 36,832 — 19,627 174,041 526,587 
Total Members' Equity
Total Member's equity88,980 39,428 22,296 15,875 166,579 214,109 
Total Liabilities & Members' Equity$206,562 $76,260 $22,296 $35,502 $340,620 $740,696 
The Company's Investments in debt and equity of affiliates $39,680 $17,544 $10,242 $3,598 $71,064 $92,023 
(1)The Company has an approximate 44.6% interest in AG Arc.
(2)The Company has an approximate 44.6% interest in MATH.
(3)The Company has an approximate 47.5% and 50% interest in LOT SP I LLC and LOT SP II LLC, respectively.
(4)Arc Home, as an issuer, has the unilateral right to repurchase Ginnie Mae pool loans it has previously sold or loans in pools it acquired in an MSR purchase (generally loans that are more than 90 days past due). When Arc Home determines there is more than a trivial benefit to repurchase the loans, it records the loans on its consolidated balance sheets as an asset and a corresponding liability. As of December 31, 2022 and December 31, 2021, Other assets and Other liabilities included loans eligible to be repurchased in the amount of $36.7 million and $49.8 million, respectively
 
The following table details the summarized statements of operations for the Company’s unconsolidated ownership interests in affiliates accounted for using the equity method for the years ended December 31, 2022 and 2021 (in thousands):
Year Ended
December 31, 2022December 31, 2021
AG Arc (1)Non-QM Loans (2)Land Related Financing (3)OtherTotal
Net Interest Income  
Interest income$11,126 $8,248 $3,726 $4,858 $27,958 $76,509 
Interest expense8,754 2,357 — 801 11,912 18,012 
Total Net Interest Income2,372 5,891 3,726 4,057 16,046 58,497 
Other Income/(Loss)
Net realized gain/(loss)25,664 (2,655)— (112)22,897 44,050 
Net unrealized gain/(loss)(10,343)242 — (1,333)(11,434)41,138 
Other income/(loss), net (4)22,401 — — 3 22,404 28,183 
Total Other Income37,722 (2,413)— (1,442)33,867 113,371 
Expenses57,424 647 402 71 58,544 85,603 
Net Income/(Loss)(17,330)2,831 3,324 2,544 (8,631)86,265 
Net Income/(Loss) Attributable to Noncontrolling Preferred Interests— — — — — 610 
Net Income/(Loss) Attributable to Controlling Interest of Unconsolidated Equity Method Investments$(17,330)$2,831 $3,324 $2,544 $(8,631)$86,875 
The Company's Equity in earnings/(loss) from affiliates$(13,734)$1,261 $1,621 $594 $(10,258)$31,889 
(1)The Company has an approximate 44.6% interest in AG Arc. The Company's equity in earnings/(loss) from AG Arc does not include $6.0 million and $5.3 million of gains recorded by Arc Home in connection with the sale of residential mortgage loans to the Company for the years ended December 31, 2022 and 2021, respectively. Refer to Note 2 for more information on this accounting policy.
(2)The Company has an approximate 44.6% interest in MATH.
(3)The Company has an approximate 47.5% and 50% interest in LOT SP I LLC and LOT SP II LLC, respectively.
(4)"Other income/(loss), net" at AG Arc includes servicing revenue.