Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue
Interest and related income		$ 155,131	$ 180,735	$ 315,976	$ 344,901
Less: interest and related expense		113,225	119,676	229,156	225,703
Net interest income		41,906	61,059	86,820	119,198
Revenue from real estate owned		22,581	19,866	36,492	30,829
Total net revenue		64,487	80,925	123,312	150,027
Expenses
Management fees - affiliate		9,011	9,641	18,221	19,297
Incentive fees - affiliate					1,558
General and administrative expenses		4,845	4,492	8,722	9,417
Stock-based compensation expense		3,999	4,395	8,352	7,761
Real estate owned:
Operating expenses		13,859	11,269	26,739	21,268
Interest expense		6,869	5,865	13,198	11,309
Depreciation and amortization		2,623	2,092	5,222	4,150
Total expenses		41,206	37,754	80,454	74,760
Proceeds from interest rate cap		228	1,495	1,093	2,678
Unrealized loss on interest rate cap		(94)	(259)	(1,092)	(1,662)
(Loss) income from equity method investment		(42)	(895)	(77)	668
(Loss) gain on extinguishment of debt		(999)	2,217	(3,243)	2,217
Provision for current expected credit loss reserve		(33,928)	(41,476)	(103,888)	(38,237)
Net (loss) income		$ (11,554)	$ 4,253	$ (64,349)	$ 40,931
Net (loss) income per share of common stock:
Net (loss) income per share of common stock - basic		$ (0.09)	$ 0.02	$ (0.48)	$ 0.28
Net (loss) income per share of common stock - diluted		$ (0.09)	$ 0.02	$ (0.48)	$ 0.28
Weighted-average shares of common stock outstanding
Weighted-average shares of common stock outstanding - basic	[1]	139,078,117	138,399,446	138,934,615	138,392,666
Weighted-average shares of common stock outstanding - diluted	[1]	139,078,117	138,399,446	138,934,615	138,392,666

[1] Amounts as of June 30, 2024 and 2023 include 89,282 and 33,257 fully vested RSUs.