Fair Value (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

The following table presents the carrying values and estimated fair values of assets and liabilities that are required to be recorded or disclosed at fair value at June 30, 2022, and December 31, 2021:

	June 30, 2022				December 31, 2021
(in thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets
Loans held-for-investment, net of allowance for credit losses	$	3,830,014	$	3,818,893	$	3,741,308	$	3,771,216
Cash and cash equivalents	$	150,192	$	150,192	$	191,931	$	191,931
Restricted cash	$	69,492	$	69,492	$	12,362	$	12,362
Liabilities
Repurchase facilities	$	1,271,659	$	1,271,659	$	677,285	$	677,285
Securitized debt obligations	$	1,425,556	$	1,412,095	$	1,677,619	$	1,681,514
Asset-specific financings	$	43,622	$	43,622	$	43,622	$	43,622
Term financing facility	$	—	$	—	$	127,145	$	127,145
Convertible senior notes	$	273,822	$	270,374	$	272,942	$	278,554
Senior secured term loan facilities	$	—	$	—	$	139,880	$	139,880