Residential Mortgage Loans (Tables)

3 Months Ended

Mar. 31, 2023

SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]

Schedule of Residential Mortgage Loans

The following table sets forth the cost, fair value, weighted average interest rate, and weighted average remaining maturity of the Company’s residential mortgage loan portfolio as of March 31, 2023 and December 31, 2022:

	March 31, 2023			December 31, 2022
	($ in thousands)
Cost	$	620,677		$	886,661
Unpaid principal balance	$	604,535		$	864,171
Net premium on mortgage loans purchased	16,142			22,489
Change in fair value	(76,241)			(115,678)
Fair value	$	544,436		$	770,982
Weighted average interest rate	4.63		%	4.80		%
Weighted average remaining maturity (years)	30			30

The following table sets forth the cost, fair value, weighted average interest rate, and weighted average remaining maturity of the Company’s commercial mortgage loan portfolio as of March 31, 2023 and December 31, 2022:

	March 31, 2023			December 31, 2022
	($ in thousands)
Cost	$	9,918		$	9,928
Unpaid principal balance	$	9,918		$	9,928
Change in fair value	(458)			(470)
Fair value	$	9,460		$	9,458
Weighted average interest rate	6.35		%	7.03		%
Weighted average remaining maturity (years)	7			8

Schedule of Financing Receivables Past Due

The following table sets forth data regarding the number of consumer mortgage loans secured by residential real property 90 or more days past due and also those in formal foreclosure proceedings, and the recorded investment and unpaid principal balance of such loans as of March 31, 2023 and December 31, 2022:

As of:	March 31, 2023		December 31, 2022
	($ in thousands)
Number of mortgage loans 90 or more days past due	6		11
Recorded investment in mortgage loans 90 or more days past due	$	4,136	$	7,230
Unpaid principal balance of loans 90 or more days past due	$	4,005	$	7,043
Number of mortgage loans in foreclosure	3		2
Recorded investment in mortgage loans in foreclosure	$	1,512	$	820
Unpaid principal balance of loans in foreclosure	$	1,463	$	849