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Segment Reporting (Table)
12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Schedule of Performance Based Segment Reporting Information

The Company evaluates performance based on the following financial measures (in thousands):

 

Year ended December 31, 2021

 

Loans

 

 

Other

 

 

Total

 

Interest and related income

 

$

415,263

 

 

$

 

 

$

415,263

 

Less: interest and related expense

 

 

180,589

 

 

 

15,643

 

 

 

196,232

 

Net interest income

 

 

234,674

 

 

 

(15,643

)

 

 

219,031

 

Revenue from real estate owned

 

 

 

 

 

27,984

 

 

 

27,984

 

Total revenue

 

 

234,674

 

 

 

12,341

 

 

 

247,015

 

Management fees - affiliate

 

 

 

 

 

39,135

 

 

 

39,135

 

Equity compensation

 

 

 

 

 

8,812

 

 

 

8,812

 

General and administrative expenses

 

 

 

 

 

12,591

 

 

 

12,591

 

Expenses from real estate owned

 

 

 

 

 

32,194

 

 

 

32,194

 

Total expenses

 

 

 

 

 

92,732

 

 

 

92,732

 

Realized gain (loss) on sale of investments

 

 

(141

)

 

 

 

 

 

(141

)

Gain on foreclosure of real estate owned

 

 

 

 

 

1,430

 

 

 

1,430

 

Other income

 

 

 

 

 

5,855

 

 

 

5,855

 

Reversal of current expected credit loss

 

 

8,962

 

 

 

 

 

 

8,962

 

Total other income

 

 

8,821

 

 

 

7,285

 

 

 

16,106

 

Segment income (loss)

 

$

243,495

 

 

$

(73,106

)

 

$

170,389

 

Total Assets as of December 31, 2021

 

$

7,015,804

 

 

$

439,467

 

 

$

7,455,271

 

 

Year ended December 31, 2020

 

Loans

 

 

Other

 

 

Total

 

Interest and related income

 

$

445,940

 

 

$

 

 

$

445,940

 

Less: interest and related expense

 

 

172,232

 

 

 

 

 

 

172,232

 

Net interest income

 

 

273,708

 

 

 

 

 

 

273,708

 

Management fees - affiliate

 

 

 

 

 

38,960

 

 

 

38,960

 

Incentive fees - affiliate

 

 

 

 

 

7,766

 

 

 

7,766

 

Equity compensation

 

 

 

 

 

5,670

 

 

 

5,670

 

General and administrative expenses

 

 

 

 

 

9,004

 

 

 

9,004

 

Total expenses

 

 

 

 

 

61,400

 

 

 

61,400

 

Realized gain (loss) on sale of investments

 

 

(640

)

 

 

 

 

 

(640

)

Provision for loan losses

 

 

(6,000

)

 

 

 

 

 

(6,000

)

Total other income (loss)

 

 

(6,640

)

 

 

 

 

 

(6,640

)

Segment income (loss)

 

$

267,068

 

 

$

(61,400

)

 

$

205,668

 

Total Assets as of December 31, 2020

 

$

6,952,543

 

 

$

 

 

$

6,952,543

 

Year ended December 31, 2019

 

Loans

 

 

Other

 

 

Total

 

Interest and related income

 

$

389,361

 

 

$

 

 

$

389,361

 

Less: interest and related expense

 

 

139,747

 

 

 

 

 

 

139,747

 

Net interest income

 

 

249,614

 

 

 

 

 

 

249,614

 

Management fees - affiliate

 

 

 

 

 

 

32,611

 

 

 

32,611

 

Incentive fees - affiliate

 

 

 

 

 

 

10,219

 

 

 

10,219

 

Equity compensation

 

 

 

 

 

 

29,489

 

 

 

29,489

 

General and administrative expenses

 

 

 

 

 

 

3,392

 

 

 

3,392

 

Total expenses

 

 

 

 

 

75,711

 

 

 

75,711

 

Equity in income from investment in CMTG/CN

   Mortgage REIT LLC

 

 

 

 

 

40

 

 

 

40

 

Realized gain (loss) on sale of investments

 

 

103

 

 

 

 

 

 

103

 

Provision for loan losses

 

 

 

 

 

 

 

 

 

Total other income (loss)

 

 

103

 

 

 

40

 

 

 

143

 

Segment income

 

$

249,717

 

 

$

(75,671

)

 

$

174,046

 

Total Assets as of December 31, 2019

 

$

6,548,121

 

 

$

 

 

$

6,548,121