CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating activities:
Net Income (Loss)	$ 546	$ 26,875
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization of deferred financing costs	2,851	5,713
Accretion of discounts, deferred loan origination fees and costs	(4,865)	(7,878)
Stock-based compensation	2,950	2,138
Depreciation and amortization of real estate owned	206	0
Provision for current expected credit losses	44,373	26,659
Realized losses on loans	10,499	0
Amortization of derivative financial instruments	(816)	(607)
Gain on sale of real estate owned	0	(2,197)
Changes in operating assets and liabilities:
Other assets	(18,896)	(9,831)
Due to affiliate	(1,488)	723
Other liabilities	1,342	472
Net cash provided by (used in) operating activities	36,702	42,067
Investing activities:
Issuance of and fundings on loans held for investment	(181,280)	(584,605)
Principal repayment of loans held for investment	184,457	500,852
Proceeds from sale of loans held for sale	37,200	0
Receipt of origination fees	1,236	7,359
Proceeds from sale of real estate owned	0	38,227
Purchases of available-for-sale debt securities	0	(27,872)
Amounts received (paid) under derivative financial instruments	0	2,085
Net cash provided by (used in) investing activities	41,613	(63,954)
Financing activities:
Proceeds from notes payable	0	105,000
Repayments of notes payable	0	(51,110)
Payment of secured funding costs	(2,359)	(3,000)
Repayments of debt of consolidated VIEs	(43,020)	(40,748)
Dividends paid	(57,873)	(52,611)
Proceeds from sale of common stock	0	106,267
Repurchase of common stock	(4,600)	0
Payment of offering costs	0	(163)
Net cash provided by (used in) financing activities	(158,576)	48,569
Change in cash and cash equivalents	(80,261)	26,682
Cash and cash equivalents, beginning of period	141,278	50,615
Cash and cash equivalents, end of period	61,017	77,297
Supplemental disclosure of noncash investing and financing activities:
Dividends declared, but not yet paid	18,082	19,196
Other receivables related to consolidated VIEs	99,418	131,662
Secured funding agreements
Financing activities:
Proceeds from secured funding agreements	43,327	225,192
Repayments of secured funding agreements	(94,051)	(217,543)
Secured bowowings
Financing activities:
Repayments of secured funding agreements	$ 0	$ (22,715)