Borrowings and Financing Activities (Tables)

6 Months Ended

Jun. 30, 2023

Long-Term Debt, Unclassified [Abstract]

Schedule of Debt

The carrying value of our debt at June 30, 2023, and December 31, 2022, was as follows.

Borrowings
($ in thousands)	Interest rate		June 30, 2023		December 31, 2022
Senior notes
Senior Notes due 2024	4.500	%	$	448,414	$	447,805
Senior Notes due 2025	6.625	%	521,306		520,305
Senior Notes due 2027	4.875	%	445,890		445,394
Total senior notes			$	1,415,610	$	1,413,504
($ in thousands)	Average interest rate (1)		June 30, 2023		December 31, 2022
Secured borrowings
FHLB advances
FHLB advances due 2023	4.596	%	$	75,036	$	104,895
FHLB advances due 2024 (2)	3.222	%	32,371		32,371
FHLB advances due 2025	2.340	%	12,684		9,984
FHLB advances due 2026	4.469	%	1,835		—
FHLB advances due 2027	2.562	%	7,887		6,436
Total FHLB advances			129,813		153,686
Mortgage financing facilities	6.880	%	48,949		2,136
Total secured borrowings			$	178,762	$	155,822

(1)As of June 30, 2023. See “FHLB Advances” and “Mortgage Financing Facilities” below for more information.

(2)Includes $13.4 million of floating-rate advances with a weighted average interest rate of 5.26% and 3.62% as of June 30, 2023, and December 31, 2022, respectively, which resets daily based on changes in SOFR.