Fair Value (Tables)

9 Months Ended

Sep. 30, 2023

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 September 30, 2023, and December 31, 2022:

	September 30, 2023				December 31, 2022
(in thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets
Loans held-for-investment, net of allowance for credit losses	$	2,763,558	$	2,794,976	$	3,267,815	$	3,270,338
Loans held-for-sale	$	14,980	$	14,980	$	—	$	—
Cash and cash equivalents	$	257,592	$	257,592	$	133,132	$	133,132
Restricted cash	$	25,955	$	25,955	$	7,033	$	7,033
Liabilities
Repurchase facilities	$	921,348	$	921,348	$	1,015,566	$	1,015,566
Securitized debt obligations	$	999,536	$	943,222	$	1,138,749	$	1,093,351
Asset-specific financings	$	45,823	$	45,823	$	44,913	$	44,913
Secured credit facility	$	100,000	$	100,000	$	100,000	$	100,000
Convertible senior notes	$	131,600	$	131,749	$	130,918	$	127,881