CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities:
Net income (loss)	$ (38,867)	$ 29,785	$ 60,460
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization of deferred financing costs	3,899	7,096	9,895
Accretion of discounts, deferred loan origination fees and costs	(6,135)	(10,347)	(8,433)
Stock-based compensation	3,991	2,876	1,940
Depreciation and amortization of real estate owned	1,016	0	825
Provision for current expected credit losses	91,825	46,061	10
Realized losses on loans	10,499	0	0
Unrealized losses on loans held for sale	995	0	0
Amortization of derivative financial instruments	(921)	(1,029)	0
Gain on sale of real estate owned	0	(2,197)	0
Changes in operating assets and liabilities:
Other assets	(19,879)	(17,674)	(18,545)
Due to affiliate	(1,445)	1,424	1,006
Other liabilities	1,811	1,162	1,192
Net cash provided by (used in) operating activities	46,789	57,157	48,350
Investing activities:
Issuance of and fundings on loans held for investment	(199,829)	(652,720)	(1,241,996)
Principal collections and cost-recovery proceeds on loans held for investment	288,626	824,940	534,973
Proceeds from sale of loans held for sale	37,200	0	0
Receipt of origination fees	1,463	8,513	7,632
Purchases of capitalized additions to real estate owned	0	0	(144)
Proceeds from sale of real estate owned	0	38,227	0
Purchases of available-for-sale debt securities	0	(27,872)	0
Amounts received (paid) under derivative financial instruments	0	2,085	(150)
Net cash provided by (used in) investing activities	127,460	193,173	(699,685)
Financing activities:
Proceeds from notes payable	0	105,000	15,869
Repayments of notes payable	0	(51,110)	(27,880)
Payment of secured funding costs	(4,049)	(4,467)	(13,066)
Proceeds from issuance of debt of consolidated VIEs	0	0	540,471
Repayments of debt of consolidated VIEs	(55,051)	(85,856)	(121,246)
Dividends paid	(75,954)	(71,807)	(58,424)
Proceeds from sale of common stock	0	106,267	204,779
Repurchase of common stock	(4,600)	0	0
Payment of offering costs	0	(163)	(324)
Net cash provided by (used in) financing activities	(205,068)	(159,667)	627,174
Change in cash and cash equivalents	(30,819)	90,663	(24,161)
Cash and cash equivalents, beginning of period	141,278	50,615	74,776
Cash and cash equivalents, end of period	110,459	141,278	50,615
Supplemental Information:
Interest paid during the period	103,717	57,819	40,126
Income taxes paid during the period	375	250	1,406
Supplemental disclosure of noncash investing and financing activities:
Dividends declared, but not yet paid	18,220	19,347	16,674
Other receivables related to consolidated VIEs	32,002	129,495	128,589
Assumption of real estate owned	84,300	0	0
Assumption of other assets related to real estate owned	353	0	0
Assumption of other liabilities related to real estate owned	1,713	0	0
Transfer of senior mortgage loan to real estate owned	82,940	0	0
Secured funding agreements
Financing activities:
Proceeds from secured funding agreements	43,668	267,192	970,036
Repayments of secured funding agreements	(109,082)	(402,008)	(885,541)
Secured term loan
Financing activities:
Proceeds from secured funding agreements	0	0	90,000
Repayments of secured funding agreements	0	0	(50,000)
Secured bowowings
Financing activities:
Repayments of secured funding agreements	$ 0	$ (22,715)	$ (37,500)