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Debt Obligations - Summary of Financings (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Short-Term Debt [Line Items]    
Capacity $ 7,087,945 $ 7,265,860
Borrowing Outstanding $ 5,340,186 $ 5,694,025
Weighted Average Spread [1] 3.01% 3.03%
Repurchase Agreements and Term Participation Facility [Member]    
Short-Term Debt [Line Items]    
Capacity [2] $ 5,626,006 $ 5,709,907
Borrowing Outstanding [2] $ 3,990,887 $ 4,271,112
Weighted Average Spread [1],[2] 2.69% 2.76%
Loan Participants Sold [Member]    
Short-Term Debt [Line Items]    
Capacity $ 100,634 $ 120,634
Borrowing Outstanding $ 100,634 $ 120,634
Weighted Average Spread [1] 4.25% 4.15%
Notes Payable [Member]    
Short-Term Debt [Line Items]    
Capacity $ 359,667 $ 419,867
Borrowing Outstanding $ 247,027 $ 286,827
Weighted Average Spread [1] 3.44% 3.10%
Secured Term Loan [Member]    
Short-Term Debt [Line Items]    
Capacity $ 721,638 $ 725,452
Borrowing Outstanding $ 721,638 $ 725,452
Weighted Average Spread [1] 4.50% 4.50%
Debt To Real Estate Owned [Member]    
Short-Term Debt [Line Items]    
Capacity $ 280,000 $ 290,000
Borrowing Outstanding $ 280,000 $ 290,000
Weighted Average Spread [1] 2.90% 2.83%
[1] Weighted average spread over the applicable benchmark rate is based on unpaid principal balance. SOFR as of June 30, 2024 and December 31, 2023 was 5.34% and 5.35%, respectively.
[2] The repurchase agreements and term participation facility are partially recourse to us. As of June 30, 2024 and December 31, 2023, the weighted average recourse on both our repurchase agreements and term participation facility was 29% and 30%, respectively.