Pay vs Performance Disclosure - USD ($) | 12 Months Ended |
Dec. 31, 2022 | Dec. 31, 2021 |
Pay vs Performance Disclosure [Table] | | |
Pay vs Performance [Table Text Block] | PAY VERSUS PERFORMANCE TABLE The following Value of Initial Fixed Year Summary ($) Compensation ($)(1) Average Non-PEO NEOs Average Non-PEO (1) Total ($) Peer Group ($) (2) Net ($mms) Distributable (3) 2022 $ 14,310,747 $ 12,093,805 $ 2,142,028 $ 1,831,494 $ 97.63 $ 71.80 $ 112.06 $ 194.35 2021 — — — — $ 98.68 $ 94.90 $ 170.54 $ 168.45 (1) Amounts represent compensation actually paid to our PEO and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below), which includes the individuals indicated in the table below for each fiscal year: Year PEO Non-PEO 2022 Richard J. Mack Jai Agarwal, Michael McGillis, Kevin Cullinan 2021 Richard J. Mack Michael McGillis Compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows. No other adjustments are required under applicable SEC rules. 2021 2022 Adjustments (a) PEO Average Non- PEO NEOs PEO Average Non-PEO Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY — — $ (14,310,747 ) $ (2,004,556 ) Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End — — $ 11,245,251 $ 1,575,162 Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date — — $ 848,554 $ 118,860 TOTAL ADJUSTMENTS — — $ (2,216,942 ) $ (310,534 ) (a) Time-based RSU award grant date fair values were calculated using the stock price as of the date of grant. The valuation assumptions used to calculate the fair values of the time-based RSU awards that were outstanding as of the end of the covered fiscal year have been adjusted using the stock price as of year-end. (2) For the relevant fiscal year, represents the cumulative TSR (the “Peer Group TSR”) of the Bloomberg REIT Mortgage Index (the “ Peer Group (3) As an externally managed company, we do not maintain an incentive compensation program that enables us to disclose a “company-selected measure” within the meaning of the SEC rules. However, we have chosen to disclose information regarding Distributable Earnings, which we believe is the most important financial performance measure in evaluating our NEOs’ compensation as compared to company performance. Pursuant to the Management Agreement, we use Core Earnings, which is substantially the same as Distributable Earnings excluding incentive fees, to determine the incentive fees we pay our Manager. Distributable Earnings is a non-GAAP non-cash (i) non-cash mark-to-market (iv) one-time non-cash | |
Company Selected Measure Name | Distributable Earnings | |
Named Executive Officers, Footnote [Text Block] | Year PEO Non-PEO 2022 Richard J. Mack Jai Agarwal, Michael McGillis, Kevin Cullinan 2021 Richard J. Mack Michael McGillis | |
Peer Group Issuers, Footnote [Text Block] | For the relevant fiscal year, represents the cumulative TSR (the “Peer Group TSR”) of the Bloomberg REIT Mortgage Index (the “ Peer Group | |
PEO Total Compensation Amount | $ 14,310,747 | $ 0 |
PEO Actually Paid Compensation Amount | $ 12,093,805 | 0 |
Adjustment To PEO Compensation, Footnote [Text Block] | Compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows. No other adjustments are required under applicable SEC rules. 2021 2022 Adjustments (a) PEO Average Non- PEO NEOs PEO Average Non-PEO Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY — — $ (14,310,747 ) $ (2,004,556 ) Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End — — $ 11,245,251 $ 1,575,162 Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date — — $ 848,554 $ 118,860 TOTAL ADJUSTMENTS — — $ (2,216,942 ) $ (310,534 ) (a) Time-based RSU award grant date fair values were calculated using the stock price as of the date of grant. The valuation assumptions used to calculate the fair values of the time-based RSU awards that were outstanding as of the end of the covered fiscal year have been adjusted using the stock price as of year-end. | |
Non-PEO NEO Average Total Compensation Amount | $ 2,142,028 | 0 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 1,831,494 | 0 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | Compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows. No other adjustments are required under applicable SEC rules. 2021 2022 Adjustments (a) PEO Average Non- PEO NEOs PEO Average Non-PEO Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY — — $ (14,310,747 ) $ (2,004,556 ) Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End — — $ 11,245,251 $ 1,575,162 Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date — — $ 848,554 $ 118,860 TOTAL ADJUSTMENTS — — $ (2,216,942 ) $ (310,534 ) (a) Time-based RSU award grant date fair values were calculated using the stock price as of the date of grant. The valuation assumptions used to calculate the fair values of the time-based RSU awards that were outstanding as of the end of the covered fiscal year have been adjusted using the stock price as of year-end. | |
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | | |
Compensation Actually Paid vs. Net Income [Text Block] | | |
Compensation Actually Paid vs. Company Selected Measure [Text Block] | | |
Total Shareholder Return Vs Peer Group [Text Block] | | |
Tabular List [Table Text Block] | Pay Versus Performance Tabular List As mentioned above, as an externally managed company we do compensation • Distributable Earnings; • Net Income; and • TSR. | |
Total Shareholder Return Amount | $ 97.63 | 98.68 |
Peer Group Total Shareholder Return Amount | 71.8 | 94.9 |
Net Income (Loss) | $ 112,060,000 | $ 170,540,000 |
Company Selected Measure Amount | 194,350,000 | 168,450,000 |
PEO Name | Richard J. Mack | |
Closing Price | $ 14.71 | |
Measure [Axis]: 1 | | |
Pay vs Performance Disclosure [Table] | | |
Measure Name | Distributable Earnings | |
Non-GAAP Measure Description [Text Block] | (3) As an externally managed company, we do not maintain an incentive compensation program that enables us to disclose a “company-selected measure” within the meaning of the SEC rules. However, we have chosen to disclose information regarding Distributable Earnings, which we believe is the most important financial performance measure in evaluating our NEOs’ compensation as compared to company performance. Pursuant to the Management Agreement, we use Core Earnings, which is substantially the same as Distributable Earnings excluding incentive fees, to determine the incentive fees we pay our Manager. Distributable Earnings is a non-GAAP non-cash (i) non-cash mark-to-market (iv) one-time non-cash | |
Measure [Axis]: 2 | | |
Pay vs Performance Disclosure [Table] | | |
Measure Name | Net Income | |
Measure [Axis]: 3 | | |
Pay vs Performance Disclosure [Table] | | |
Measure Name | TSR | |
PEO [Member] | Amounts Reported under the Stock Awards and Option Awards Columns in the Summary Compensation Table for Applicable FY [Member] | | |
Pay vs Performance Disclosure [Table] | | |
Adjustment to Compensation Amount | $ (14,310,747) | $ 0 |
PEO [Member] | ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End [Member] | | |
Pay vs Performance Disclosure [Table] | | |
Adjustment to Compensation Amount | 11,245,251 | 0 |
PEO [Member] | Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date [Member] | | |
Pay vs Performance Disclosure [Table] | | |
Adjustment to Compensation Amount | 848,554 | 0 |
PEO [Member] | Total Adjustments [Member] | | |
Pay vs Performance Disclosure [Table] | | |
Adjustment to Compensation Amount | (2,216,942) | 0 |
Non-PEO NEO [Member] | Amounts Reported under the Stock Awards and Option Awards Columns in the Summary Compensation Table for Applicable FY [Member] | | |
Pay vs Performance Disclosure [Table] | | |
Adjustment to Compensation Amount | (2,004,556) | 0 |
Non-PEO NEO [Member] | ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End [Member] | | |
Pay vs Performance Disclosure [Table] | | |
Adjustment to Compensation Amount | 1,575,162 | 0 |
Non-PEO NEO [Member] | Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date [Member] | | |
Pay vs Performance Disclosure [Table] | | |
Adjustment to Compensation Amount | 118,860 | 0 |
Non-PEO NEO [Member] | Total Adjustments [Member] | | |
Pay vs Performance Disclosure [Table] | | |
Adjustment to Compensation Amount | $ (310,534) | $ 0 |