Velocity Financial (VEL) 10-K 15 Mar 22 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Mar. 01, 2022	Jun. 30, 2021
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Trading Symbol	VEL
Entity Registrant Name	Velocity Financial, Inc.
Entity Central Index Key	0001692376
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Public Float			$ 105.9
Entity Common Stock, Shares Outstanding		32,487,645
Entity File Number	001-39183
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-0659719
Entity Address, Address Line One	30699 Russell Ranch Road
Entity Address, Address Line Two	Suite 295
Entity Address, City or Town	Westlake Village
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91362
City Area Code	818
Local Phone Number	532-3700
Title of 12(b) Security	Common stock, par value $0.01 per share
Security Exchange Name	NYSE
Document Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference	Certain portions of our Definitive Proxy Statement pursuant to Regulation 14A of the Securities Exchange Act of 1934 in connection with our 2022 Annual Meeting of Shareholders are incorporated by reference into Part III of this Form 10-K.
Auditor Name	RSM US LLP
Auditor Firm ID	49
Auditor Location	Los Angeles, California
KPMG LLP
Document Information [Line Items]
Auditor Name	KPMG LLP
Auditor Firm ID	185
Auditor Location	Los Angeles, California

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 35,965	$ 13,273
Restricted cash	11,639	7,020
Loans held for sale, net	87,908	13,106
Loans held for investment, net	2,527,564	1,948,089
Loans held for investment, at fair value	1,359	1,539
Total loans, net	2,616,831	1,962,734
Accrued interest receivables	13,159	11,373
Receivables due from servicers	74,330	71,044
Other receivables	1,812	4,085
Real estate owned, net	17,557	15,767
Property and equipment, net	3,830	4,145
Deferred tax asset	16,604	6,654
Mortgage servicing rights, at fair value	7,152
Goodwill	6,775
Other assets	6,824	6,779
Total assets	2,812,478	2,102,874
LIABILITIES
Accounts payable and accrued expenses	92,195	63,361
Secured financing, net	162,845	74,982
Securitizations, net	1,911,879	1,579,019
Warehouse and repurchase facilities, net	301,069	75,923
Total liabilities	2,467,988	1,793,285
Commitments and contingencies
EQUITY
Preferred stock ($0.01 par value, 25,000,000 shares authorized; 45,000 issued, none outstanding at December 31, 2021 and 45,000 outstanding at December 31, 2020 as reflected in Mezzanine Equity)
Common stock ($0.01 par value, 100,000,000 shares authorized; 32,293,042 and 20,087,494 shares issued and outstanding at December 31, 2021 and 2020, respectively)	323	201
Additional paid-in capital	296,364	204,190
Retained earnings	44,422	15,198
Total Velocity Financial Inc., stockholders' equity	341,109	219,589
Noncontrolling interest in subsidiary	3,381
Total equity	344,490	219,589
Total liabilities, mezzanine equity and equity	$ 2,812,478	2,102,874
Series A Preferred Stock
MEZZANINE EQUITY
Series A Convertible preferred stock (45,000 shares designated, $0.01 par value; none issued and outstanding at December 31, 2021 and 45,000 shares issued and outstanding at December 31, 2020)		$ 90,000

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Preferred stock, par or stated value per share	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	45,000	45,000
Preferred stock, shares outstanding	0	45,000
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares, issued	32,293,042	20,087,494
Common stock, shares, outstanding	32,293,042	20,087,494
Restricted cash	$ 11,639	$ 7,020
Loans held for investment, net	2,527,564	1,948,089
Real estate owned, net	17,557	15,767
Other assets	6,824	6,779
Total assets	2,812,478	2,102,874
Accounts payable and accrued expenses	92,195	63,361
Total liabilities	$ 2,467,988	$ 1,793,285
Series A Preferred Stock
Class Of Stock [Line Items]
Convertible preferred stock shares designated	45,000	45,000
Convertible preferred stock par value per share	$ 0.01	$ 0.01
Convertible preferred shares issued	0	45,000
Convertible preferred shares outstanding	0	45,000
Variable Interest Entity Primary Beneficiary
Class Of Stock [Line Items]
Restricted cash	$ 4,713	$ 6,743
Loans held for investment, net	2,202,010	1,874,991
Accrued interest and other receivables	83,493	82,342
Real estate owned, net	9,861	9,698
Other assets	9	12
Total assets	2,300,086	1,973,786
Accounts payable and accrued expenses	45,705	43,795
Securities issued	1,911,879	1,579,019
Total liabilities	$ 1,957,584	$ 1,622,814

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Interest income	$ 181,968	$ 167,322	$ 157,531
Interest expense — portfolio related	85,386	87,826	83,903
Net interest income — portfolio related	96,582	79,496	73,628
Interest expense — corporate debt	20,609	12,049	14,618
Net interest income	75,973	67,447	59,010
Provision for (reversal of) loan losses	(292)	5,068	1,139
Net interest income after provision for loan losses	76,265	62,379	57,871
Other operating income
Gain on disposition of loans	7,892	7,576	4,410
Unrealized gain (loss) on fair value loans	29	442	(9)
Other income (expense)	267	(1,698)	(1,752)
Total other operating income	8,188	6,320	2,649
Operating expenses
Compensation and employee benefits	19,190	20,731	15,511
Rent and occupancy	1,769	1,743	1,531
Loan servicing	8,282	7,802	7,396
Professional fees	3,781	4,238	2,056
Real estate owned, net	3,150	2,656	2,647
Other operating expenses	8,488	8,400	5,981
Total operating expenses	44,660	45,570	35,122
Income including noncontrolling interests	39,793	23,129	25,398
Income attributable to Velocity Financial, Inc.	39,793	23,129	25,398
Income tax expense	10,569	5,352	8,106
Net income attributable to Velocity Financial, Inc.	29,224	17,777	$ 17,292
Less undistributed earnings attriuable to participating securities	8,589
Less deemed dividends on preferred stock		48,955
Net earnings (loss) Allocated to common stockholders	$ 20,635	$ (31,178)
Earnings (Loss) per common share
Basic	$ 0.90	$ (1.55)
Diluted	$ 0.86	$ (1.55)
Weighted average common shares outstanding
Basic	22,813	20,087
Diluted	33,982	20,087

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' / MEMBERS' EQUITY - USD ($) $ in Thousands		Total	Cumulative Effect, Period of Adoption, Adjustment	Class D equity units	Class C	Class A equity units	Members' Equity	Members' EquityClass D equity units	Members' EquityClass C	Members' EquityClass A equity units	Common Stock	Common Stock, Additional Paid-in Capital	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Non-controlling Interest	Parent	ParentCumulative Effect, Period of Adoption, Adjustment	ParentClass D equity units	ParentClass C	ParentClass A equity units
Beginning balance at Dec. 31, 2018		$ 136,800					$ 136,800									$ 136,800
Liquidation preference return					$ 1,248				$ (1,248)										$ 1,248
Net income		17,292					17,292									17,292
Ending balance at Dec. 31, 2019		152,844					$ 152,844									152,844
Cumulative effect of change in accounting principle at Dec. 31, 2019	[1]		$ (96)											$ (96)			$ (96)
Conversion				$ (60,194)		$ (92,650)		$ (60,194)		$ (92,650)								$ 60,194		$ 92,650
Issuance of common stock		247,740									$ 201	$ 247,539				247,740
Issuance of common stock, shares											20,087,494
Deemed dividends-convertible preferred stock		(48,955)										(46,472)	$ (2,483)			(48,955)
Issuance of warrants		2,158										2,158				2,158
Stock-based compensation		965										965				965
Net income		17,777											17,777			17,777
Ending balance at Dec. 31, 2020		219,589									$ 201	204,190	15,198			219,589
Ending balance at Dec. 31, 2020											20,087,494
Issuance of common stock		90,144									$ 122	90,022				90,144
Issuance of common stock, shares											11,699,037
Restricted stock awarded and earned stock compensation		1,132										1,132				1,132
Restricted stock awarded and earned stock compensation, shares											506,511
Stock-based compensation		1,020										1,020				1,020
Net income		29,224											29,224			29,224
Recognition of non-controlling interest		3,381													$ 3,381
Ending balance at Dec. 31, 2021		$ 344,490									$ 323	$ 296,364	$ 44,422		$ 3,381	$ 341,109
Ending balance at Dec. 31, 2021											32,293,042
[1]	Impact due to adoption of ASU 2016-13, "Measurement of Credit Losses on Financial Instruments", and related amendments on January 1, 2020.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 29,224	$ 17,777	$ 17,292
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	1,119	1,219	1,414
Amortization of right-of-use assets	1,292	1,227	1,054
Provision for (reversal of) loan losses	(292)	5,068	1,139
Provision for held for sale loan losses	2	63	8
Origination of loans held for sale		(96,064)	(336,876)
Proceeds from sales of loans held for sale		80,858	192,523
Purchase of held for sale loans	(1,500)	(1,232)	(12,919)
Repayments on loans held for sale	2,673	19,415	25,137
Net accretion of discount on purchased loans and deferred loan origination costs	6,519	4,587	4,904
Provision for (reversal of) uncollectible borrower advances	(80)	871	112
Gain on disposition of loans	(6,776)	(6,911)	(4,119)
Real estate acquired through foreclosure in excess of recorded investment	(1,117)	(665)	(291)
Amortization of debt issuance discount and costs	20,224	16,156	10,442
Loss on disposal of property and equipment	18	42	322
Change in valuation of real estate owned	1,759	1,734	1,631
Change in valuation of fair value loans	(29)	(442)	9
Change in valuation of held for sale loans	(17)	(328)	224
Gain on sale of real estate owned	(409)	(644)	(207)
Stock-based compensation	2,159	965
Deferred tax expense (benefit)	(9,950)	1,667	(7,763)
Increase (decrease) in operating assets and liabilities:
Accrued interest and other receivables	(3,287)	(5,603)	(14,452)
Other assets	(362)	4,074	(3,234)
Accounts payable and accrued expenses	16,452	11,058	18,314
Net cash provided by (used in) operating activities	57,622	54,892	(105,336)
Cash flows from investing activities:
Purchase of loans held for investment	(20,586)	(3,571)	(9,276)
Origination of loans held for investment	(1,344,027)	(343,607)	(682,878)
Proceeds from sales of loans originally classified as held for investment	135,787	99,601
Payoffs of loans held for investment and loans at fair value	568,837	341,971	379,286
Proceeds from sale of real estate owned	9,637	7,469	4,497
Proceeds from insurance related to real estate owned			961
Capitalized real estate owned improvements	(194)	(846)	(1,122)
Change in advances	(5,429)	(8,709)	(1,549)
Change in impounds and deposits	9,202	(3,843)	5,029
Purchase of property and equipment	(135)	(726)	(882)
Proceeds from sale of investments	1,180
Acquisition of Century, net of cash acquired	(10,755)
Net cash used in (provided by) investing activities	(656,483)	87,739	(305,934)
Cash flows from financing activities:
Warehouse repurchase facilities advances	1,215,971	420,196	961,658
Warehouse repurchase facilities repayments	(989,374)	(766,679)	(755,997)
Proceeds from secured financing	175,000		153,000
Repayment of secured financing	(82,156)	(75,000)	(127,594)
Proceeds of securitizations, net	977,678	536,687	608,121
Repayment of securitizations	(643,500)	(398,324)	(371,447)
Debt issuance costs	(27,024)	(8,869)	(17,882)
Repurchase of Class C preferred units			(27,714)
Net proceeds from issuance of preferred stock		41,044
Proceeds from issuance of warrants		2,158
Issuance of common stock	137	100,800
Preferred stock issuance costs	(560)
IPO deal costs		(1,903)
Net cash provided (used in) by financing activities	626,172	(149,890)	422,145
Net increase (decrease) in cash, cash equivalents, and restricted cash	27,311	(7,259)	10,875
Cash, cash equivalents, and restricted cash at beginning of year	20,293	27,552	16,677
Cash, cash equivalents, and restricted cash at end of year	47,604	20,293	27,552
Supplemental cash flow information:
Cash paid during the year for interest	85,019	85,407	86,448
Cash paid during the year for income taxes	9,645	965	15,416
Noncash transactions from investing and financing activities:
Transfer of loans held for investment to loans held for sale	(205,671)	(110,678)
Transfer of loans held for investment to real estate owned	11,466	9,747	11,369
Capitalized interest on loans held for investment	2,046	7,814
Transfer of loans held for sale to held for investment	11,137	213,609
Deferred IPO costs charged against additional paid-in capital		$ (4,000)
Deferred Stock Issuance Amortization Offset Against Additional Paid-In Capital	1
Discount (premium) on issuance of securitizations	2,051		37
Preferred stock conversion to common stock	90,000
Business combination:
Investment securities	1,181
Fair value of tangible asset acquired	688
Mortgage servicing rights	7,512
Other receivables	154
Goodwill	6,775
Liabilities assumed	$ 1,814
Class C
Noncash transactions from investing and financing activities:
Return paid-in-kind on preferred units			1,248
Class D Preferred Units
Noncash transactions from investing and financing activities:
Return paid-in-kind on preferred units			$ 14,035

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization And Description of Business	Note 1 — Organization and Description of Business Velocity Financial, LLC (VF or the Company) was a Delaware limited liability company (LLC) formed on July 9, 2012 for the purpose of acquiring all membership units in Velocity Commercial Capital, LLC (VCC). On January 16, 2020, Velocity Financial, LLC converted from a Delaware limited liability company to a Delaware corporation and changed its name to Velocity Financial, Inc. Upon completion of the conversion, the Velocity Financial, LLC’s Class A equity units of 97,513,533 and Class D equity units of 60,193,989 were converted to 11,749,994 shares of Velocity Financial, Inc. common stock. On January 22, 2020, the Company completed its initial public offering of 7,250,000 shares of common stock at a price to the public of $ 13.00 per share. On January 28, 2020, the Company completed the sale of an additional 1,087,500 shares of its common stock, representing the full exercise of the underwriters’ option to purchase additional shares, at a public offering price of $ 13.00 per share. The Company’s stock trades on The New York Stock Exchange under the symbol “VEL”. VCC, a California LLC formed on June 2, 2004, is a mortgage lender that originates and acquires small balance investor real estate loans, providing capital to the investor real estate loan market. The Company is licensed as a California Finance Lender and, as such, is required to maintain a minimum net worth of $ 250 thousand. The Company does not believe there is any potential risk of not being able to meet this regulatory requirement. The Company uses its equity capital and borrowed funds to originate and invest in investor real estate loans and seeks to generate income based on the difference between the yield on its investor real estate loan portfolio and the cost of its borrowings. The Company does not engage in any other significant line of business or offer any other products or services, nor does it originate or acquire investments outside of the United States of America. The Company, through its wholly owned subsidiaries, is the sole beneficial owner of the Velocity Commercial Capital Loan Trusts, from the 2015-1 Trust through and including the 2021-4 Trust, all of which are New York common law trusts, with the exception of VCC 2020-MC1 Trust which is a Delaware statutory trust. The Trusts are bankruptcy remote, variable interest entities (VIE) formed for the purpose of providing secured borrowings to the Company and are consolidated with the accounts of the Company. On December 28, 2021, the Company acquired an 80 % ownership interest in Century Health & Housing Capital, LLC (“Century”), paying a cash purchase price of $ 12.8 million. Century is a licensed “Ginnie Mae” issuer/servicer that provides government-insured Federal Housing Administration (FHA) mortgage financing for multifamily housing, senior housing and long-term care/assisted living facilities. Century originates loans through its borrower-direct origination channel and services the loans through its in-house servicing platform, which enables the formation of long-term relationships with its clients and drives strong portfolio retention. Century is a consolidated subsidiary of the Company as of completion of the acquisition.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 2 — Basis of Presentation and Summary of Significant Accounting Policies The consolidated financial statements of the Company have been prepared on the accrual basis of accounting and in accordance with United States Generally Accepted Accounting Principles (U.S. GAAP). Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of consolidated income and expenses during the reporting period. Principles of Consolidation The principles of consolidation require management to determine and reassess the requirement to consolidate VIEs each reporting period, and therefore, the determination may change based on new facts and circumstances pertaining to each VIE. This could result in a material impact to the Company’s consolidated financial statements in subsequent reporting periods. The Company consolidates the assets, liabilities, and remainder interests of the Trusts as management determined that VCC is the primary beneficiary of these entities. The Company’s ongoing asset management responsibilities provide the Company with the power to direct the activities that most significantly impact the VIE’s economic performance, and the remainder interests provide the Company with the right to receive benefits and the obligation to absorb losses, limited to its investment in the remainder interest of the Trusts. The consolidated financial statements as of December 31, 2021 and 2020 include only those assets, liabilities, and results of operations related to the business of the Company, its subsidiaries, and VIEs. Business Combination The Company accounts for its business combinations using the acquisition method of accounting. Assets acquired and the liabilities assumed as part of a business combination are recognized separately from goodwill at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. The Company, with the assistance of outside specialists as necessary, use estimates and assumptions to value assets acquired and liabilities assumed at the acquisition date as well as contingent consideration, where applicable. The Company may refine these estimates during the measurement period which may be up to one year from the acquisition date. As a result, during the measurement period, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Consolidated Statements of Income. Restricted Cash Restricted cash consisted of the required specified reserves by the 2020-2 and 2020-MC1 Trust agreements to pay the notes on each payment date if collections on mortgage loans are insufficient to make payments on the notes, and cash held by the Company for potential future advances due certain borrowers. Loans Held for Investment and Loans Held for Sale Except for loans originated in accordance with the guidelines of Ginnie Mae's program, which loans are originated with the intent to sell, originated loans and purchased loans are classified as held-for-investment when management has the intent and ability to hold such loans for the foreseeable future or until maturity. Loans held for investment are carried at their outstanding principal balance, adjusted for net deferred loan origination costs and fees and allowance for loan losses. Interest income is accrued on the unpaid principal balance (UPB) at their respective stated interest rates. Generally, loans are placed on nonaccrual status when they become 90 days past due. Loans are considered past due when contractually required principal or interest payments have not been made on the due dates. When a loan is placed on nonaccrual status, the accrued and unpaid interest is reversed as a reduction of interest income and accrued interest receivable. Interest income is subsequently recognized only to the extent cash payments are received or when the loan has been placed back in accrual status. Loans are restored to accrual status when (1) the loan becomes current and none of its principal and interest is due and unpaid, and the Company expects repayment of the remaining contractual principal and interest, or (2) if the loan has been formally restructured in a manner that reasonably assures repayment and performance according to its modified terms. Under these terms, the Company requires that the borrower continue to make the full restructured principal and interest payments for six consecutive months before restoring the loan to accrual status. The deferred loans under the Company’s forbearance program are considered current at the time of deferral, and the Company continues to accrue interest on these loans. Deferred loans that subsequently went 90 days past due after the deferral date were placed on nonaccrual status with any accrued interest income reversed through earnings. The Company evaluates the COVID-19 forbearance-granted loans on an individual basis to determine if a reserve should be established on the collectability of the accrued interest and whether any loans should be placed on nonaccrual status. For originated loans, net deferred loan origination costs are amortized to interest income using the level yield method. Loans are classified as held for sale when management has the intent to sell them. They are carried at lower of cost or estimated fair value. The Century loans are considered as held for sale until they meet the sale criteria describe below which is generally when they are delivered to GNMA in exchange for GNMA securities. On occasion, as part of the Company’s management strategy of the loans held in its portfolio, the Company will transfer loans from held for investment to held for sale. Upon transfer, any associated allowance for loan loss is charged off and the carrying value of the loan is adjusted to the lower of cost or estimated fair value. The net deferred fees and costs associated with loans held for sale are deferred (not accreted or amortized to interest income) until the related loans are sold. The Company recognizes transfers of loans as sales when it surrenders control over the loans. Control over transferred loans is deemed to be surrendered when (1) the loans have been isolated from the Company, (2) the transferee has the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred loans, and (3) the Company does not maintain effective control over the transferred loans through either (a) an agreement that entitles and obligates the Company to repurchase or redeem them before their maturity or (b) the ability to unilaterally cause the holder to return the specific loans. Gains or losses on the sale of these loans are included in “Gain on disposition of loans” in the Consolidated Statements of Income. Interest income on loans held for sale is recognized over the life of the loans using their contractual interest rates. Income recognition is suspended, and the unpaid interest receivable is reversed against interest income when loans become 90 days delinquent, or when, in management’s opinion, a full recovery of interest and principal becomes doubtful. Income recognition is resumed when the loan becomes contractually current. Mortgage Servicing Rights Upon the acquisition of Century, the Company retains the servicing rights of the Ginnie Mae insured loans that are sold in the secondary market. Servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sale of loans. Under the fair value measurement method, the Company measures servicing rights at fair value at each reporting date and reports changes in fair value of servicing assets in earnings in the period in which the changes occur and are included as a component of non-interest income or expense on the Consolidated Statements of Income. The fair value of servicing rights is subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. Loans serviced for others are not included in the Consolidated Balance Sheet. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned. Allowance for Loan and Lease Losses Prior to January 1, 2020, the allowance for loan and lease losses (ALLL) on loans held for investment was maintained at a level deemed adequate by management to provide for probable and inherent losses in the portfolio at the balance sheet date. The ALLL had a general reserve component for loans with no credit impairment and a specific reserve component for loans determined to be impaired. The allowance methodology for the general reserve component included both quantitative and qualitative loss factors which were applied to the population of unimpaired loans to estimate the general reserves. The quantitative loss factors included loan type, age of the loan, borrower FICO score, past loan loss experience, historical default rates, and delinquencies. The qualitative loss factors considered, among other things, the loan portfolio composition and risk, current economic conditions that may affect the borrower’s ability to pay, and the underlying collateral value. The provision for loan losses and recoveries of previously recognized charge-offs were added to the ALLL, while charge-offs on loans were recorded as a reduction to ALLL. Loans were considered impaired when, based on current information and events, it was probable that the Company would be unable to collect the scheduled payments of principal and interest according to the contractual terms of the loan agreements. Impaired loans included loans on nonaccrual status and performing troubled debt restructured loans. Income from impaired loans was recognized on an accrual basis unless the loan is on nonaccrual status. Income from loans on nonaccrual status was recognized to the extent cash is received and when the loan’s principal balance is deemed collectible. Loans that experience insignificant payment delays and payment shortfalls generally were not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment was measured on a loan-by-loan basis by comparing the fair value of the underlying collateral, net of estimated selling costs (net realizable value) against the recorded investment of the loan. The net realizable values of the underlying collateral are estimated by management using third-party broker price opinions or appraisals obtained when loans are deemed impaired. To the extent the recorded investment of the loan exceeded the estimated fair value, a specific reserve or charge-off was recorded depending upon either the certainty of the estimate of loss or the fair value of the loan’s collateral. Effective January 1, 2020, the Company adopted ASU 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments replacing the incurred loss accounting approach with the current expected credit loss approach for all financial assets measured at amortized cost, which as of the adoption date consisted entirely of our held for investment loan portfolio. Under the current expected credit loss ("CECL") methodology, the allowance for credit losses is measured using two components. A component that measures expected credit losses on a collective (pool) basis when similar risk characteristics exist and a component that measures expected credit losses on an individual loan basis. For the collective pool component, the Company identified the following portfolio segments based on risk characteristics of the loans in its loan portfolio (pool): • Residential 1– 4 Unit – Purchase (loans to purchase 1– 4 unit residential rental properties); • Residential 1– 4 Unit – Refinance (refinance loans on 1– 4 unit residential rental properties); • Commercial – Purchase (loans to purchase traditional commercial properties); • Commercial – Refinance (refinance loans on traditional commercial properties); • Short Term 1– 4 Unit – Purchase (short-term loans to purchase 1– 4 unit residential rental properties); and • Short Term 1– 4 Unit – Refinance (short-term refinance loans on 1– 4 unit residential rental properties). The Company determines the collectability of its loans in the collective pools by evaluating certain risk characteristics. The segmentation of its loan portfolio was determined based on analyses of its loan portfolio performance over the past seven years. Based on analyses of the loan portfolio’s historical performance, the Company concluded that loan purpose and product types are the most significant risk factors in determining its expectation of future loan losses. Loan purpose considers whether a borrower is acquiring the property or refinancing an existing property. The historical experience shows that refinance loans have higher loss rates than loans for property acquisitions. Product type includes residential 1-4 unit property and traditional commercial property. The historical experience shows that traditional commercial property loans have higher loss rates than residential 1-4 unit property. Short Term loans have a maturity of one to 2 years from origination. Non-Short Term loans have a maturity of up to 30 years from origination. The Company estimates the allowance for loan losses using relevant available information, from internal and external sources, relating to historical performance, current conditions, and reasonable and supportable macroeconomic forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are considered for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency levels, or term, as well as for changes in environmental conditions, such as unemployment rates, property values and changes in the competitive or regulatory environment. The Company uses an open pool loss rate methodology to model expected credit losses. To determine the loss rates for the open pool method, the Company starts with its historical database of losses, segmenting the loans by loan purpose, product type and repayment period. A third-party model applying the open pool method is used to estimate an annual average loss rates by dividing the respective pool's quarterly historical losses by the pool's respective prior quarter’s ending unamortized loan cost balance and deriving an annual average loss rate from the historical quarterly loss rates. The model then adjusts the annual average loss rates based upon macroeconomic forecasts over a reasonable and supportable period, followed by a straight-line reversion to the historical loss rates. The adjusted annual average loss rates are applied to the forecasted pool balance within each segment. The forecasted balances in the loan pool segments are calculated based on a principal amortization using contractual maturity, factoring in further principal reductions from estimated prepayments. Estimated prepayments, or Constant Prepayment Rates ("CPRs") are developed from multiple loan characteristic considerations, such as property types, FICO scores, loan purpose, and prepayment penalty terms, which is the most significant driver of prepayment activity. The prepayment penalty terms differ between the short-term and long-term loans, and the Company has developed a CPR curve for its short-term loans ( 2-year or less) and one for its long-term loans ( 30-year ). Data from 2012-2021 is used to develop prepayment rates for the Company’s long-term loans. Because of the prepayment penalty structure in the Company’s long-term loans, prepayments during the active penalty term are historically low and begin to ramp up after the prepayment penalty term. The active prepayment penalty term is considered for existing and new loans over the reasonable and supportable forecast period in determining estimated prepayments. The Company back-tests the CPR curves on a quarterly basis and adjusts the CPR curves as appropriate. The reasonable and supportable period is meant to represent the period in which the Company believes the forecasted macroeconomic variables can be reasonably estimated. Significant variables or assumptions incorporated in the macroeconomic forecasts include U.S. unemployment, treasury yields, U.S. real gross domestic product (GDP), and U.S. real estate housing prices. The Company considers multiple scenarios from different macroeconomic forecasts and uses different forecast and revision periods for estimating lifetime expected credit losses. For the December 31, 2020 CECL estimate, the Company considered a COVID-19 adverse stress scenario and a COVID-19 severe stress scenario, both with a five-quarter reasonable and supportable forecast period followed by a four-quarter straight-line reversion period. Management decided that using only the adverse stress scenario did not factor for recent additional COVID-related risks such as the post-holiday spike in infections and deaths, unknown impact of a recent mutant virus, success of the vaccine, and impact of recent Presidential executive orders. Management concluded that applying a 50% weight to the adverse and severe stress scenarios was appropriate given the status of the pandemic at year-end. The various scenarios, the weighting of scenarios, as well as the forecast period and reversion to historical loss is subject to change as conditions in the market change and the Company’s ability to forecast economic events evolves. For the December 31, 2021 CECL estimate, the Company considered a COVID-19 severe stress scenario with a five-quarter reasonable and supportable forecast period followed by a four-quarter straight-line reversion period. The various scenarios, as well as the forecast period and reversion to historical loss is subject to change as conditions in the market change and the Company’s ability to forecast economic events evolves. The Company has determined that once a loan becomes nonperforming (90 or more days past due), it no longer shares the same risk characteristics of the other loans within its segment of homogeneous loans (pool). The Company pulls these loans out of the segments and evaluates the loans individually using the practical expedient to determine the credit exposure. Nonperforming loans are considered collateral dependent by the Company. Using the practical expedient, the fair value of the underlying collateral, less estimated selling costs, is compared to the carrying value of the loan in the determination of a credit loss. The allowance for loan losses for individually assessed or evaluated loans is the difference between the fair value of the collateral underlying the loans at the reporting date, adjusted for estimated selling costs, and the amortized cost basis. The allowance for loan losses is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the allowance when the Company believes the uncollectibility of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. The allowance for loan losses is maintained at a level deemed adequate by management to provide for expected losses in the portfolio at the balance sheet date. While management uses available information to estimate its required allowance for loan losses, future additions to the allowance for credit losses may be necessary based on changes in estimates resulting from economic and other conditions. The Company has made the accounting policy election not to measure an allowance for credit losses for accrued interest receivables. When a loan is placed on nonaccrual status, the accrued and unpaid interest is reversed as a reduction of interest income and accrued interest receivable. Accrued interest receivable is excluded from the amortized cost of loans and it is presented as accrued interest receivable in the Consolidated Balance Sheets. Troubled Debt Restructurings Troubled debt restructurings (TDRs) are renegotiated loans where borrower concessions have been granted, such as reduction of the UPB or interest rate and for which the borrower is experiencing financial difficulty. Insignificant concessions, such as short-term forbearances, do not constitute a TDR. Accrued but unpaid interest and advances are added to the outstanding principal balance with a corresponding allowance established. Loans classified as TDRs are reported as impaired loans. Accrued Interest and Other Receivables Accrued interest and other receivables represent accrued and uncollected interest on loans in accrual status; principal and interest payments received, but unremitted by the servicer; and receivables from borrowers for escrow and other advances, net of an allowance for uncollectible borrower advances. Real Estate Owned, Net (REO) Properties acquired through foreclosure, deed in lieu of foreclosure, or from third parties that meet all of the following criteria are classified as real estate owned: (i) management has the intent to sell the property; (ii) the property is available for immediate sale in its present condition, or management intends on making necessary repairs to render the property saleable, subject only to terms that are usual and customary; and (iii) it is unlikely that any significant changes to the plan will be made or that the plan will be withdrawn. Real estate owned is initially recorded at the property’s estimated fair value, based on appraisals or broker price opinions obtained, less estimated costs to sell, at the acquisition date, establishing a new cost basis. If the recorded loan balance at the time of transfer exceeds the estimated fair value of the property less estimated costs to sell, the charge is recorded to the allowance for loan losses. If the estimated fair value of the property less estimated costs to sell exceeds the recorded loan balance at the time of transfer, the write-up is first recorded as a recapture to the allowance for loan losses to the extent of any previous charge and then to gain on the REO. Any subsequent write-downs in the fair value of the REO after the transfer date are charged to real estate owned, net in the Consolidated Statements of Income and recognized through a valuation allowance. Subsequent increases in the fair value of the REO less selling costs reduce the valuation allowance, but not below zero, and are credited to real estate owned, net. Property and Equipment, Net Property and equipment is recorded at cost, less accumulated depreciation, computed principally by the straight-line method based on the estimated useful lives of the specific assets, which range from three to seven years . Software is amortized over the estimated useful lives of the specific assets, which range from three to ten years using the straight-line method. Leasehold improvements are amortized over the lives of the respective leases or the service lives of the improvements, whichever is shorter. Goodwill Goodwill arises from business combinations and is generally determined as the excess of the fair value of the consideration transferred over the fair value of the net assets acquired and liabilities assumed as of the acquisition date less any noncontrolling interest. Goodwill acquired in a purchase business combination and determined to have an indefinite useful life is not amortized but tested for impairment at least annually in the fourth quarter, or more frequently if events and circumstances exist that indicate that a goodwill impairment test should be performed. Off Balance Sheet Credit Exposure The Company has no off-balance-sheet assets or liabilities and, therefore, no off-balance-sheet credit exposure. Income Taxes Income taxes are accounted for using the asset and liability method. Under this method a deferred tax asset or liability is measured based on the enacted tax rates expected to apply to taxable income in the years in which the differences between the financial statement carrying amounts and tax bases of existing assets and liabilities are expected to be recovered or settled. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established to reduce the net carrying amount of deferred tax assets ("DTA") if it is determined to be more likely than not, that all or some portion of the potential deferred tax asset will not be realized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the DTA will or will not be realized. The Company's ultimate realization of the DTA is dependent upon the generation of future taxable income during the periods in which temporary differences become deductible. Management considers the nature and amount of historical and projected future taxable income, the scheduled reversal of deferred tax assets and liabilities, and available tax planning strategies in making this assessment. The amount of deferred taxes recognized could be impacted by changes to any of these variables. The Company determines whether its tax positions are more likely than not to be sustained upon examination by the applicable taxing authorities, including resolution of any related appeals or litigation processes, based on the technical merits of the positions in question. Income tax positions that meet the more likely than not recognition threshold are measured to determine the amount of benefit to recognize. An income tax position is measured at the largest amount of benefit that management believes has a greater than 50% likelihood of realization upon settlement. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits in income tax expense. Stock-Based Compensation Compensation expense for stock-based awards is based on the fair value of the award at the date of grant. The fair value of stock options is estimated at the date of grant using a Black-Scholes option pricing model. The fair value of restricted stock, restricted stock units and performance stock units are determined based on the Company’s current market price on the date of grant. Compensation expense is recognized in the consolidated financial statements on a straight-line basis over the requisite service period, which is generally defined as the vesting period. The Company recognizes forfeitures as they occur and the income tax effects of awards are recognized in the consolidated statements of income when awards vest or are settled. Earnings per Share Earnings per share are calculated utilizing the two-class method. Basic earnings per share are calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding. Diluted earnings per share are calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of shares adjusted for the dilutive effect of stock-based awards.

Current Accounting Developments

Current Accounting Developments	12 Months Ended
	Dec. 31, 2021
Accounting Changes And Error Corrections [Abstract]
Current Accounting Developments	Note 3 — Current Accounting Developments Recently Issued Accounting Standards ASU 2019-12, “Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes.” ASU 2019-12 provides guidance to simplify the accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition for deferred tax liabilities for outside basis differences. ASU 2019-12 also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. ASU 2019-12 became effective for the Company on January 1, 2021 . The adoption of this standard did no t have a significant impact on the Company’s consolidated financial statements. ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” ASU 2020-04 provides optional expedients and exceptions for accounting related to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. ASU 2020-04 applies only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform and do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. ASU 2020-04 was effective upon issuance and generally can be applied through December 31, 2022. The adoption of this standard did not have a significant impact on the Company’s consolidated financial statements. ASU 2020-08, “Codification Improvements to Subtopic 310-20, Receivables - Nonrefundable Fees and Other Costs.” ASU 2020-08 clarifies the accounting for the amortization of purchase premiums for callable debt securities with multiple call dates. The Company adopted this standard on January 1, 2021 and it did no t have a material impact on the Company’s consolidated financial statements. ASU 2021-01, “Reference Rate Reform (Topic 848): Scope.” ASU 2021-01 clarifies that certain optional expedients and exceptions in ASC 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. ASU 2021-01 also amends the expedients and exceptions in ASC 848 to capture the incremental consequences of the scope clarification and to tailor the existing guidance to derivative instruments affected by the discounting transition. ASU 2021-01 was effective upon issuance and generally can be applied through December 31, 2022. The adoption of ASU 2021-01 did not have a significant impact on the Company’s consolidated financial statements. ASU 2021-06, "Presentation of Financial Statements (Topic 205), Financial Services - Depository and Lending (Topic 942), and Financial Services - Investment Companies (Topic 946): Amendments to SEC Paragraphs Pursuant to SEC Final Rule Releases No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Businesses, and No. 33-10835, Update of Statistical Disclosures for Bank and Savings and Loan Registrants". This ASU amends SEC paragraphs in the Accounting Standards Codification to reflect the issuance of SEC Release No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Businesses, and No. 33-10835, Update of Statistical Disclosures for Bank and Savings and Loan Registrants. This ASU was effective upon issuance and did not have a significant impact on the Company’s consolidated financial statements. Recent Regulatory and Legislative Developments On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which, among other things, allows the Company to (i) elect to suspend the requirements under GAAP for loan modifications related to COVID-19 that would otherwise be categorized as troubled debt restructurings (TDRs), and (ii) suspend any determination of a loan modified as a result of the effects of COVID-19 as being a TDR, including impairment for accounting purposes. On March 22, 2020, the federal banking agencies issued an interagency statement to provide additional guidance to financial institutions who are working with borrowers affected by COVID-19. The agencies have confirmed with staff of the Financial Accounting Standards Board that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief, are not TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time a modification program is implemented. In response to the COVID-19 pandemic, the Company implemented a voluntary COVID-19 forbearance program from April through June allowing customers to primarily defer payments for up to 90 days. Deferrals under the CARES Act or interagency guidance are not considered troubled debt restructurings. Interest on loans in the COVID-19 forbearance program that were less than 90 days past due at forbearance grant date or contractually became 90 days past due during the forbearance period continued to accrue through the forbearance period. If any of these loans subsequently became nonperforming after the forbearance period, they were placed on nonaccrual and the previous accrued interest reversed.

Cash, Cash Equivalents, and Res

Cash, Cash Equivalents, and Restricted Cash	12 Months Ended
	Dec. 31, 2021
Cash And Cash Equivalents [Abstract]
Cash, Cash Equivalents, and Restricted Cash	Note 4 — Cash, Cash Equivalents, and Restricted Cash The Company is required to hold cash for certain Trusts and potential future advances due certain borrowers. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company’s consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows as of December 31, 2021, 2020, and 2019 (in thousands): December 31, 2021 2020 2019 Cash and cash equivalents $ 35,965 $ 13,273 $ 21,465 Restricted cash 11,639 7,020 6,087 Total cash, cash equivalents, and restricted $ 47,604 $ 20,293 $ 27,552

Loans Held for Sale, Net

Loans Held for Sale, Net	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Loans Held for Sale, Net	Note 5 — Loans Held for Sale, Net The following table summarizes loans held for sale as of December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 Unpaid principal balance $ 87,422 $ 12,929 Valuation adjustments — ( 17 ) Deferred loan origination costs 486 194 Ending balance $ 87,908 $ 13,106 In July 2020, the loans held for sale portfolio with unpaid principal balance of $ 214.4 million was transferred to the held for investment loan portfolio when the Company changed its intent to hold these loans for investment as collateral for the 2020-MC1 Trust. The related valuation allowance of $ 1.3 million on these loans was reversed through earnings and included in “Other income” in the consolidated statements of income. Loans held for sale of $ 87.9 million as of December 31, 2021 were originated with the intent and ability to hold for the foreseeable future (loans held for investment) but were subsequently designated as being held for sale. Loans held for sale are recorded at the lower of cost or fair value.

Loans Held for Investment and L

Loans Held for Investment and Loans Held for Investment at Fair Value	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Loans Held for Investment and Loans Held for Investment at Fair Value	Note 6 — Loans Held for Investment and Loans Held for Investment at Fair Value The following tables summarize loans held for investment as of December 31, 2021 and 2020 (in thousands): December 31, 2021 Loans held for Loans held for Total loans investment, investment, at held for net fair value investment Unpaid principal balance $ 2,498,466 $ 1,332 $ 2,499,798 Valuation adjustments on FVO loans — 27 27 Deferred loan origination costs 33,360 — 33,360 2,531,826 1,359 2,533,185 Allowance for loan losses ( 4,262 ) — ( 4,262 ) Total loans held for investment, net $ 2,527,564 $ 1,359 $ 2,528,923 December 31, 2020 Loans held for Loans held for Total loans investment, investment, at held for net fair value investment Unpaid principal balance $ 1,930,334 $ 1,541 $ 1,931,875 Valuation adjustments on FVO loans — ( 2 ) ( 2 ) Deferred loan origination costs 23,600 — 23,600 1,953,934 1,539 1,955,473 Allowance for loan losses ( 5,845 ) — ( 5,845 ) Total loans held for investment, net $ 1,948,089 $ 1,539 $ 1,949,628 During the year ended December 31, 2021 , $ 394.7 million in UPB of loans held for investment have participated in the COVID-19 forbearance program and the Company granted a 90-days forbearance period on these loans. The following table summarizes the UPB and amortized cost basis of the loans in the Company's COVID-19 forbearance program as of December 31, 2021 ($ in thousands): December 31, 2021 UPB % Amortized Cost % Beginning balance $ 392,073 $ 396,918 Additions 2,616 2,615 Foreclosures ( 402 ) ( 408 ) Repayments ( 101,858 ) ( 103,135 ) Ending balance $ 292,429 $ 295,990 Performing/Accruing $ 233,307 79.8 % $ 236,076 79.8 % Nonperforming/Nonaccrual $ 59,122 20.2 % $ 59,914 20.2 % December 31, 2020 UPB % Amortized Cost % Beginning balance $ — $ — Additions 438,152 443,479 Foreclosures — — Repayments ( 46,079 ) ( 46,561 ) Ending balance 392,073 396,918 Performing/Accruing $ 327,708 83.6 % $ 330,495 83.3 % Nonperforming/Nonaccrual $ 64,365 16.4 % $ 66,423 16.7 % Since April 1, 2020, the inception of the COVID-19 forbearance program, the Company has modified $ 408.2 million in UPB of loans, which includes capitalized interest of $ 10.1 million. As of December 31, 2021, $ 138.0 million in UPB of modified loans has been paid down, which includes $ 2.4 million of capitalized interest received. Approximately 79.8 % and 83.6 % of the COVID forbearance loans in UPB were performing, and 20.2 % and 16.4 % were on nonaccrual status as of December 31, 2021 and 2020, respectively. As of December 31, 2021 and 2020, the gross unpaid principal balance of loans held for investment pledged as collateral for the Company’s warehouse facility agreements, and securitizations issued were as follows (in thousands): December 31, 2021 2020 The 2013 repurchase agreement $ 202,511 $ 91,074 The 2015 repurchase agreement 114,072 — The Bank credit agreement 30,959 — The 2021 repurchase agreement 53,217 — Total pledged loans $ 400,759 $ 91,074 2014-1 Trust — 22,228 2015-1 Trust 31,931 48,179 2016-1 Trust 52,623 71,271 2016-2 Trust — 47,282 2017-1 Trust — 81,376 2017-2 Trust 94,809 137,970 2018-1 Trust 71,051 112,042 2018-2 Trust 154,974 224,195 2019-1 Trust 144,727 203,144 2019-2 Trust 132,358 175,560 2019-3 Trust 103,266 135,527 2020-1 Trust 189,547 241,664 2020-2 Trust 98,403 123,646 2020-MC1 Trust 134,957 228,470 2021-1 Trust 249,396 — 2021-2 Trust 198,039 — 2021-3 Trust 202,138 — 2021-4 Trust 314,547 — Total $ 2,172,766 $ 1,852,554 (a) Nonaccrual Loans The following tables present the amortized cost basis, or recorded investment, of the Company’s loans held for investment that were nonperforming and on nonaccrual status as of December 31, 2021 and 2020. The tables also present the amortized cost basis of accruing loans that were 90 days or more past due as of December 31, 2021 and 2020. These loans were granted a forbearance under the Company’s COVID-19 payment forbearance programs ($ in thousands). December 31, 2021 Total Nonaccrual with No Allowance for Loan Loss Nonaccrual with Allowance for Loan Loss Allowance for Loans Individually Evaluated % of Allowance to Total Nonaccrual/ Impaired Loans Loans 90+ DPD Still Accruing COVID-19 Program Commercial - Purchase $ 17,260 $ 16,501 $ 759 $ 9 0.1 % $ — Commercial - Refinance 85,935 79,131 6,804 826 6.2 — Residential 1-4 Unit - Purchase 17,385 17,128 257 96 0.7 — Residential 1-4 Unit - Refinance 107,552 105,515 2,037 138 1.0 — Short Term 1-4 Unit - Purchase 2,986 2,881 105 31 0.2 — Short Term 1-4 Unit - Refinance 45,300 41,870 3,430 306 2.3 — Total $ 276,418 $ 263,026 $ 13,392 $ 1,406 10.5 % $ — Troubled debt restructuring included $ 165 $ — $ — $ 25 — $ — December 31, 2020 Total Nonaccrual with No Allowance for Loan Loss Nonaccrual with Allowance for Loan Loss Allowance for Loans Individually Evaluated % of Allowance to Total Nonaccrual/ Impaired Loans Loans 90+ DPD Still Accruing COVID-19 Program Commercial - Purchase $ 22,166 $ 20,955 $ 1,211 $ 153 0.7 % $ — Commercial - Refinance 101,117 96,804 4,313 519 2.3 1,747 Residential 1-4 Unit - Purchase 26,373 25,839 534 128 0.6 — Residential 1-4 Unit - Refinance 120,152 113,206 6,946 465 2.1 109 Short Term 1-4 Unit - Purchase 6,585 3,808 2,777 525 2.4 — Short Term 1-4 Unit - Refinance 59,843 53,616 6,227 878 4.0 123 Total $ 336,236 $ 314,228 $ 22,008 $ 2,668 12.1 % $ 1,979 Troubled debt restructuring included $ 173 $ — $ — $ — — $ — The Company has made the accounting policy election not to measure an allowance for credit losses for accrued interest receivables. The Company has also made the accounting policy election to write off accrued interest receivables by reversing interest income when loans are placed on nonaccrual status, or 90 days or more past due, other than the COVID-19 forbearance-granted loans. Any future payments received for these loans will be recognized on a cash basis. The Company continues to evaluate the COVID-19 forbearance-granted loans on an individual basis to determine if a reserve should be established on the collectability of the accrued interest and whether any loans should be placed on nonaccrual status at a future date. The following table presents the amortized cost basis in the loans held for investment as of December 31, 2021 and 2020, and the amount of accrued interest receivables written off by reversing interest income by portfolio segment for the years ended December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 Amortized Cost Interest Reversal Amortized Cost Interest Reversal Commercial - Purchase $ 509,421 $ ( 346 ) $ 300,903 $ ( 827 ) Commercial - Refinance 783,260 ( 1,176 ) 685,097 ( 3,798 ) Residential 1-4 Unit - Purchase 408,770 ( 209 ) 224,593 ( 887 ) Residential 1-4 Unit - Refinance 730,321 ( 1,474 ) 566,925 ( 4,186 ) Short Term 1-4 Unit - Purchase 28,989 ( 821 ) 43,325 ( 160 ) Short Term 1-4 Unit - Refinance 71,065 ( 653 ) 133,091 ( 1,039 ) Total $ 2,531,826 $ ( 4,679 ) $ 1,953,934 $ ( 10,897 ) For the years ended December 31, 2021 and 2020 , cash basis interest income recognized on nonaccrual loans was $ 31.2 million and $ 17.5 million, respectively. Other than loans in the Company's COVID-19 forbearance program, no accrued interest income was recognized on nonaccrual loans for the years ended December 31, 2021 and 2020 . The average recorded investment of individually evaluated loans, computed using month-end balances, was $ 311.2 million and $ 250.0 million for the years ended December 31, 2021 and 2020, respectively. There were no commitments to lend additional funds to debtors whose loans have been modified as of December 31, 2021 and 2020. (b) Allowance for Loan Losses The allowance for loan losses as of December 31, 2021 decreased to $ 4.3 million from $ 5.8 million as of January 1, 2021, primarily due to the lessening impact of COVID 19 on economic conditions and forecasts. The following tables present the activity in the allowance for loan losses for the years ended December 31, 2021 and 2020 (in thousands): December 31, 2021 Residential Residential Short Term Short Term Commercial Commercial 1-4 Unit 1-4 Unit 1-4 Unit 1-4 Unit Purchase Refinance Purchase Refinance Purchase Refinance Total Allowance for credit losses: Balance - January 1, 2021 $ 373 $ 2,093 $ 333 $ 1,216 $ 595 $ 1,235 $ 5,845 Provision for loan losses 154 164 104 ( 60 ) ( 538 ) ( 116 ) ( 292 ) Charge-offs ( 142 ) ( 113 ) ( 37 ) ( 208 ) ( 14 ) ( 777 ) ( 1,291 ) Ending balance $ 385 $ 2,144 $ 400 $ 948 $ 43 $ 342 $ 4,262 Allowance related to: Loans individually evaluated $ 9 $ 826 $ 96 $ 138 $ 31 $ 306 $ 1,406 Loans collectively evaluated $ 376 $ 1,318 $ 305 $ 811 $ 10 $ 36 $ 2,856 Amortized cost related to: Loans individually evaluated $ 17,260 $ 85,935 $ 17,385 $ 107,552 $ 2,986 $ 45,300 $ 276,418 Loans collectively evaluated $ 492,161 $ 697,326 $ 391,385 $ 622,768 $ 26,003 $ 25,765 $ 2,255,408 December 31, 2020 Residential Residential Short Term Short Term Commercial Commercial 1-4 Unit 1-4 Unit 1-4 Unit 1-4 Unit Purchase Refinance Purchase Refinance Purchase Refinance Total Allowance for credit losses: Beginning balance, prior to adoption of ASC 326 $ 304 $ 1,016 $ 148 $ 772 $ — $ — $ 2,240 Impact of adopting ASC 326 19 62 9 47 — — 137 Balance - January 1, 2020 $ 323 $ 1,078 $ 157 $ 819 $ — $ — $ 2,377 Provision for loan losses (1) 129 1,233 349 440 645 2,272 5,068 Charge-offs ( 79 ) ( 218 ) ( 173 ) ( 43 ) ( 50 ) ( 1,037 ) ( 1,600 ) Ending balance $ 373 $ 2,093 $ 333 $ 1,216 $ 595 $ 1,235 $ 5,845 Allowance related to: Loans individually evaluated $ 153 $ 519 $ 128 $ 465 $ 525 $ 878 $ 2,668 Loans collectively evaluated $ 220 $ 1,574 $ 205 $ 751 $ 69 $ 357 $ 3,176 Amortized cost related to: Loans individually evaluated $ 22,166 $ 101,117 $ 26,373 $ 120,152 $ 6,585 $ 59,843 $ 336,236 Loans collectively evaluated $ 278,738 $ 583,981 $ 198,220 $ 446,773 $ 36,738 $ 73,248 $ 1,617,698 (1) The provision for loans losses would have been approximately $ 3.9 million for the year ended December 31, 2020, excluding the $ 1.2 million impact from the loans held for sale transferred to loans held for investment. The additional $ 1.2 million provision was mainly offset by the reversal of the $ 1.3 million valuation allowance on the held for sale loans, which was recorded to “Other Income” in the consolidated statements of income. (c) Credit Quality Indicator A credit quality indicator is a statistic used by the Company to monitor and assess the credit quality of loans held for investment, excluding loans held for investment at fair value. The Company monitors its charge-off rate in relation to its nonperforming loans as its credit quality indicator. The charge-offs over the average nonperforming loans were 0.42 % and 0.65 % for the years ended December 31, 2021 and 2020 , respectively. The recovery rate on nonperforming assets were 104.2 % and 103.1 % for the years ended December 31, 2021 and 2020, respectively. Other credit quality indicators include aging status and accrual status. Nonperforming loans are loans that are 90 or more days past due, in bankruptcy, in foreclosure, or not accruing interest. The following tables present the aging status of the amortized cost basis in the loans held for investment portfolio, which include $ 296.0 million and $ 396.9 million loans in the Company’s COVID-19 forbearance program as of December 31, 2021 and 2020, respectively (in thousands): 30–59 days 60–89 days 90+days Total Total December 31, 2021 past due past due past due (1) past due Current loans Loans individually evaluated Commercial - Purchase $ 700 $ 2,314 $ 14,246 $ 17,260 $ — $ 17,260 Commercial - Refinance 4,464 6,818 74,488 85,770 165 85,935 Residential 1-4 Unit - Purchase — 682 16,703 17,385 — 17,385 Residential 1-4 Unit - Refinance 807 1,088 105,657 107,552 — 107,552 Short Term 1-4 Unit - Purchase 1,224 — 1,762 2,986 — 2,986 Short Term 1-4 Unit - Refinance 615 1,010 43,675 45,300 — 45,300 Total loans individually evaluated $ 7,810 $ 11,912 $ 256,531 $ 276,253 $ 165 $ 276,418 Loans collectively evaluated Commercial - Purchase $ 17,319 $ 4,034 $ — $ 21,353 $ 470,808 $ 492,161 Commercial - Refinance 31,769 7,025 — 38,794 658,532 697,326 Residential 1-4 Unit - Purchase 14,905 5,580 — 20,485 370,900 391,385 Residential 1-4 Unit - Refinance 39,045 9,548 — 48,593 574,175 622,768 Short Term 1-4 Unit - Purchase 21,412 217 — 21,629 4,374 26,003 Short Term 1-4 Unit - Refinance 4,060 5,561 — 9,621 16,144 25,765 Total loans collectively evaluated $ 128,510 $ 31,965 $ — $ 160,475 $ 2,094,933 $ 2,255,408 Ending balance $ 136,320 $ 43,877 $ 256,531 $ 436,728 $ 2,095,098 $ 2,531,826 (1) Includes loans in bankruptcy and foreclosure less than 90 days past due . 30–59 days 60–89 days 90+days Total Total December 31, 2020 past due past due past due (1) past due Current loans Loans individually evaluated Commercial - Purchase $ 961 $ 1,307 $ 19,898 $ 22,166 $ — $ 22,166 Commercial - Refinance 2,118 7,532 91,467 101,117 — 101,117 Residential 1-4 Unit - Purchase 192 2,915 23,266 26,373 — 26,373 Residential 1-4 Unit - Refinance 1,440 3,010 115,702 120,152 — 120,152 Short Term 1-4 Unit - Purchase — — 6,585 6,585 — 6,585 Short Term 1-4 Unit - Refinance 964 760 58,119 59,843 — 59,843 Total loans individually evaluated $ 5,675 $ 15,524 $ 315,037 $ 336,236 $ — $ 336,236 Loans collectively evaluated Commercial - Purchase $ 8,000 $ 7,081 $ — $ 15,081 $ 263,657 $ 278,738 Commercial - Refinance 33,725 13,224 1,747 48,696 535,285 583,981 Residential 1-4 Unit - Purchase 5,030 1,261 — 6,291 191,928 198,219 Residential 1-4 Unit - Refinance 33,144 14,567 109 47,820 398,953 446,773 Short Term 1-4 Unit - Purchase 1,972 21,780 — 23,752 12,987 36,739 Short Term 1-4 Unit - Refinance 8,406 5,383 123 13,912 59,336 73,248 Total loans collectively evaluated $ 90,277 $ 63,296 $ 1,979 $ 155,552 $ 1,462,146 $ 1,617,698 Ending balance $ 95,952 $ 78,820 $ 317,016 $ 491,788 $ 1,462,146 $ 1,953,934 (1) Includes loans in bankruptcy and foreclosure less than 90 days past due . The following table presents the aging of the amortized cost basis of loans held for investment in the Company's COVID-19 forbearance program as of December 31, 2021 (in thousands): 30–59 days 60–89 days 90+days Total Total December 31, 2021 past due past due past due (1) past due Current loans Loans individually evaluated Commercial - Purchase $ 163 $ 1,622 $ 4,259 $ 6,044 $ — $ 6,044 Commercial - Refinance — 2,820 18,520 21,340 — 21,340 Residential 1-4 Unit - Purchase — — 3,045 3,045 — 3,045 Residential 1-4 Unit - Refinance — — 22,670 22,670 — 22,670 Short Term 1-4 Unit - Purchase 99 — 180 279 — 279 Short Term 1-4 Unit - Refinance 404 299 5,833 6,536 — 6,536 Total loans individually evaluated $ 666 $ 4,741 $ 54,507 $ 59,914 $ — $ 59,914 Loans collectively evaluated Commercial - Purchase $ 2,209 $ 1,158 $ — $ 3,367 $ 30,904 $ 34,271 Commercial - Refinance 8,309 2,444 — 10,753 90,040 100,793 Residential 1-4 Unit - Purchase 315 231 — 546 18,321 18,867 Residential 1-4 Unit - Refinance 4,086 319 — 4,405 48,314 52,719 Short Term 1-4 Unit - Purchase 20,869 — — 20,869 761 21,630 Short Term 1-4 Unit - Refinance 942 4,149 — 5,091 2,705 7,796 Total loans collectively evaluated $ 36,730 $ 8,301 $ — $ 45,031 $ 191,045 $ 236,076 Ending balance $ 37,396 $ 13,042 $ 54,507 $ 104,945 $ 191,045 $ 295,990 (2) (1) Includes loans in bankruptcy and foreclosure less than 90 days past due. Also includes accruing loans 90+ day past due. (2) Net of $ 103.1 million (amortized cost basis) payoffs from the Company’s COVID-19 forbearance loans. In addition to the aging status, the Company also evaluates credit quality by accrual status. The following tables present the amortized cost in loans held for investment, excluding loans held for investment at fair value, based on accrual status and by loan origination year as of December 31, 2021 and 2020 (in thousands). Term Loans Amortized Cost Basis by Origination Year December 31, 2021: 2021 2020 2019 2018 2017 Pre-2017 Total Commercial - Purchase Payment performance Performing $ 277,618 $ 45,836 $ 81,541 $ 46,637 $ 24,164 $ 16,365 $ 492,161 Nonperforming 288 1,781 5,541 4,180 3,539 1,931 17,260 Total Commercial - Purchase $ 277,906 $ 47,617 $ 87,082 $ 50,817 $ 27,703 $ 18,296 $ 509,421 Commercial - Refinance Payment performance Performing $ 239,688 $ 64,966 $ 144,017 $ 118,735 $ 62,374 $ 67,545 $ 697,325 Nonperforming 2,482 3,949 26,012 26,869 16,492 10,131 85,935 Total Commercial - Refinance $ 242,170 $ 68,915 $ 170,029 $ 145,604 $ 78,866 $ 77,676 $ 783,260 Residential 1-4 Unit - Purchase Payment performance Performing $ 263,180 $ 12,878 $ 48,930 $ 29,544 $ 12,863 $ 23,990 $ 391,385 Nonperforming 1,372 2,749 3,896 3,736 3,487 2,145 17,385 Total Residential 1-4 $ 264,552 $ 15,627 $ 52,826 $ 33,280 $ 16,350 $ 26,135 $ 408,770 Residential 1-4 Unit - Refinance Payment performance Performing $ 343,199 $ 31,334 $ 114,145 $ 59,825 $ 31,774 $ 42,491 $ 622,768 Nonperforming 11,646 6,040 31,816 30,626 16,677 10,747 107,552 Total Residential 1-4 $ 354,845 $ 37,374 $ 145,961 $ 90,451 $ 48,451 $ 53,238 $ 730,320 Short Term 1-4 Unit - Purchase Payment performance Performing $ 1,890 $ 15,582 $ 8,531 $ — $ — $ — $ 26,003 Nonperforming — 1,565 1,316 105 — — 2,986 Total Short Term 1-4 $ 1,890 $ 17,147 $ 9,847 $ 105 $ — $ — $ 28,989 Short Term 1-4 Unit - Refinance Payment performance Performing $ 1,448 $ 11,991 $ 12,326 $ — $ — $ — $ 25,765 Nonperforming 1,038 15,819 22,618 5,825 — — 45,300 Total Short Term 1-4 $ 2,486 $ 27,810 $ 34,944 $ 5,825 $ — $ — $ 71,065 Total Portfolio $ 1,143,849 $ 214,490 $ 500,689 $ 326,082 $ 171,370 $ 175,345 $ 2,531,825 Term Loans Amortized Cost Basis by Origination Year December 31, 2020: 2020 2019 2018 2017 2016 Pre-2016 Total Commercial - Purchase Payment performance Performing $ 56,446 $ 99,534 $ 64,706 $ 34,862 $ 9,500 $ 13,690 $ 278,738 Nonperforming 1,046 4,666 5,799 7,182 1,539 1,934 22,166 Total Commercial - Purchase $ 57,492 $ 104,200 $ 70,505 $ 42,044 $ 11,039 $ 15,624 $ 300,904 Commercial - Refinance Payment performance Performing $ 75,376 $ 176,854 $ 157,499 $ 87,476 $ 34,858 $ 51,918 $ 583,981 Nonperforming 4,929 26,776 32,955 18,980 10,392 7,085 101,117 Total Commercial - Refinance $ 80,305 $ 203,630 $ 190,454 $ 106,456 $ 45,250 $ 59,003 $ 685,098 Residential 1-4 Unit - Purchase Payment performance Performing $ 26,215 $ 69,775 $ 42,537 $ 25,874 $ 7,056 $ 26,762 $ 198,219 Nonperforming 1,611 5,973 8,949 5,059 1,348 3,433 26,373 Total Residential 1-4 $ 27,826 $ 75,748 $ 51,486 $ 30,933 $ 8,404 $ 30,195 $ 224,592 Residential 1-4 Unit - Refinance Payment performance Performing $ 57,945 $ 168,912 $ 96,568 $ 61,033 $ 22,949 $ 39,366 $ 446,773 Nonperforming 3,934 42,159 37,451 17,942 7,653 11,013 120,152 Total Residential 1-4 $ 61,879 $ 211,071 $ 134,019 $ 78,975 $ 30,602 $ 50,379 $ 566,925 Short Term 1-4 Unit - Purchase Payment performance Performing $ 20,563 $ 15,990 $ 186 $ — $ — $ — $ 36,739 Nonperforming 3,764 2,217 604 — — — 6,585 Total Short Term 1-4 $ 24,327 $ 18,207 $ 790 $ — $ — $ — $ 43,324 Short Term 1-4 Unit - Refinance Payment performance Performing $ 35,234 $ 37,818 $ 196 $ — $ — $ — $ 73,248 Nonperforming 17,318 33,711 8,719 95 — — 59,843 Total Short Term 1-4 $ 52,552 $ 71,529 $ 8,915 $ 95 $ — $ — $ 133,091 Total Portfolio $ 304,381 $ 684,385 $ 456,169 $ 258,503 $ 95,295 $ 155,201 $ 1,953,934

Mortgage Loans on Real Estate

Mortgage Loans on Real Estate	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Mortgage Loans on Real Estate	Note 7 — Mortgage Loans on Real Estate The following tables present the Company’s loans (UPB) collateralized by real estate as of December 31, 2021 and 2020 (in thousands). December 31, 2021 Description Interest Final Unpaid Nonaccrual 1-4 unit residential (3) Under $1.0 million 4.0 % - 13.5 % January 1, 2052 $ 987,069 $ 127,214 $1.0 million and over 4.0 % - 11.5 % January 1, 2052 325,025 44,426 1,312,094 171,640 Traditional commercial (4) Under $1.0 million 3.1 % - 13.0 % January 1, 2052 969,599 73,039 $1.0 million and over 4.0 % - 10.2 % January 1, 2052 305,528 28,421 1,275,127 101,460 Total at December 31, 2021 $ 2,587,221 $ 273,100 December 31, 2020 Description Interest Final Unpaid Nonaccrual 1-4 unit residential (3) Under $1.0 million 5.2 % - 13.5 % January 1, 2051 $ 803,663 $ 161,225 $1.0 million and over 6.0 % - 11.5 % January 1, 2051 159,415 50,046 963,078 211,271 Traditional commercial (4) Under $1.0 million 3.5 % - 13.0 % January 1, 2051 792,577 88,644 $1.0 million and over 6.0 % - 10.5 % January 1, 2051 189,149 32,898 981,726 121,542 Total at December 31, 2020 $ 1,944,804 $ 332,813 Note (1): The aggregate cost of the Company’s loan portfolio for Federal income tax purposes was $ 2,621,093 and $ 1,968,579 as of December 31, 2021 and 2020, respectively. Note (2): As of December 31, 2021 and 2020, $ 155.1 million and $ 178.0 million, respectively, of the total UPB were interest-only loans with interest payable monthly and the principal payable at maturity. Note (3): The principal and interest on the 1-4 unit residential mortgage loans is payable monthly at a level amount over the life of the loan to maturity. These loans generally contain a 3 % prepayment penalty provision if the loan is prepaid within the first 3 years. Note (4): The principal and interest on the traditional commercial mortgage loans is payable monthly at a level amount over the life of the loan to maturity. These loans generally contain a 5 % prepayment penalty provision if the loan is prepaid within the first 3 years. The following table presents the reconciliation of the UPB of mortgage loans for the years ended December 31, 2021, 2020, and 2019: December 31, 2021 2020 2019 Balance at beginning of period $ 1,944,804 $ 2,059,344 $ 1,631,326 Addition during period: New mortgage loans 1,326,275 435,037 1,012,068 Acquisition 22,437 4,643 21,759 Capitalized Interest 2,045 7,814 — Deduction during period: Collection of principal ( 568,081 ) ( 374,576 ) ( 404,757 ) Collection of capitalized interest ( 2,163 ) — — Foreclosures ( 11,603 ) ( 10,781 ) ( 10,442 ) Mortgages sold ( 126,494 ) ( 176,677 ) ( 190,610 ) Balance at end of period $ 2,587,220 $ 1,944,804 $ 2,059,344

Receivables Due From Servicers

Receivables Due From Servicers	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Receivables Due From Servicers	Note 8 — Receivables Due From Servicers The following table summarizes receivables due from servicers as of December 31, 2021 (in thousands): December 31, 2021 Securitizations Warehouse and repurchase facilities and other Total Loan principal payments due from servicers $ 42,344 $ 1,165 $ 43,509 Other loan servicing receivables 10,718 730 11,448 Loan servicing receivables 53,062 1,895 54,957 Corporate and escrow advances receivable 17,884 1,489 19,373 Total receivables due from servicers $ 70,946 $ 3,384 $ 74,330

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2021
Property Plant And Equipment [Abstract]
Property and Equipment, Net	Note 9 — Property and Equipment, Net As of December 31, 2021 and 2020, property and equipment consisted of the following (in thousands): December 31, 2021 2020 Furniture $ 885 $ 885 Computer equipment 1,222 1,161 Office equipment 278 275 Leasehold improvements 578 578 Capitalized software 7,634 7,597 Building 685 — 11,282 10,496 Accumulated depreciation and amortization ( 7,452 ) ( 6,351 ) Ending balance $ 3,830 $ 4,145 During the years ended December 31, 2021, 2020 and 2019 , depreciation and amortization expense was $ 1.1 million, $ 1.2 million, and $ 1.4 million, respectively. The Company engaged a third-party consulting firm to assist in the building and implementation of a data warehouse and loan origination systems. The data warehouse was placed into service in 2017 and the loan origination system was placed into service in 2018. The total capitalized costs for the data warehouse and loan origination systems (LOS) were $ 5.7 million as of December 31, 2021 and 2020 . Total accumulated depreciation and amortization included accumulated amortization on the data warehouse and the LOS of $ 3.7 million and $ 3.0 million for the years ended December 31, 2021 and 2020, respectively. The estimated aggregate amortization expense related to capitalized software for each of the next five years is $ 0.4 million for 2022, 2023, 2024, 2025, and 2026.

Real Estate Owned, Net

Real Estate Owned, Net	12 Months Ended
	Dec. 31, 2021
Real Estate Owned Disclosure Of Detailed Components [Abstract]
Real Estate Owned, Net	Note 10 — Real Estate Owned, Net The Company’s real estate owned activities were as follows during the years ended December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 Beginning balance $ 15,767 $ 13,068 Additions 12,583 10,412 Capitalized improvements 194 846 Sales ( 9,228 ) ( 6,825 ) Valuation adjustments ( 1,759 ) ( 1,734 ) Ending balance $ 17,557 $ 15,767 The following table summarizes information about real estate operating income and expenses, realized gains and losses on sales of real estate, and unrealized gains and losses resulting from adjustments to valuation allowances for the years ended December 31, 2021, 2020 and 2019 (in thousands): December 31, 2021 2020 2019 Operating income $ 451 $ 444 $ 242 Operating expenses ( 2,251 ) ( 2,010 ) ( 1,465 ) Valuation adjustments ( 1,759 ) ( 1,734 ) ( 1,631 ) Net gain on sales of real estate 409 644 207 Total $ ( 3,150 ) $ ( 2,656 ) $ ( 2,647 ) Net gain (loss) on sales of real estate represents the difference between the net proceeds from the liquidation of the underlying properties and their respective carrying values. The following table provides additional information about the number of properties sold and the gross gains and losses recognized in real estate owned, net, in the consolidated statements of income, during the years ended December 31, 2021, 2020 and 2019 (in thousands, except properties sold): December 31, 2021 2021 2020 2019 Properties Gain Properties Gain Properties Gain sold (loss) sold (loss) sold (loss) Sales resulting in gains 23 $ 972 14 $ 837 10 $ 320 Sales resulting in losses 14 ( 563 ) 9 ( 193 ) 5 ( 113 ) Total 37 $ 409 23 $ 644 15 $ 207

Mortgage Servicing Rights

Mortgage Servicing Rights	12 Months Ended
	Dec. 31, 2021
Transfers And Servicing [Abstract]
Mortgage Servicing Rights	Note 11 — Mortgage Servicing Rights Mortgage loans serviced for others are not included in the consolidated balance sheets. The unpaid principal balance of mortgage loans serviced for others amounted to $ 520.6 million at December 31, 2021. The Company has elected to record its mortgage servicing rights using the fair value measurement method. Significant assumptions used in determining the fair value of servicing rights as of December 31, 2021 include: 1) Weighted average discount rate of 8.0 %, and 2) Weighted average constant prepayment rate of 3.2 %. The following table presents the Company's mortgage servicing rights (in thousands): December 31, 2021 2021 2020 Balance at the beginning of year $ — $ — Mortgage servicing rights acquired 7,152 — Additions — — Fair value adjustments — — Balance at end of year $ 7,152 $ —

Business Combination

Business Combination	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Business Combination	Note 12 — Business Combination On December 28, 2021, the Company acquired an 80 % ownership interest in Century, paying a cash purchase price of $ 12.8 million. Direct costs of approximately $ 0.8 million related to this acquisition were expensed as incurred. Century is a licensed “Ginnie Mae” issuer/servicer that provides government-insured Federal Housing Administration (FHA) mortgage financing for multifamily housing, senior housing and long-term care/assisted living facilities. Century originates loans through its borrower-direct origination channel and services the loans through its in-house servicing platform. The acquisition of Century expands the Company's growth opportunities by offering new product selections for the Company's network of brokers. A summary of the fair value of assets received and liabilities assumed are as follows (in thousands): As Recorded by Century Fair Value Adjustments As Recorded by Velocity Assets Cash $ 2,045 $ 2,045 Investment securities 1,181 1,181 Mortgage servicing rights — $ 7,152 (a) 7,152 Premises and equipment, net 315 373 (b) 688 Other receivables 154 154 Total assets acquired $ 3,695 $ 7,525 $ 11,220 Liabilities Accrued payables $ 314 $ 1,500 (c) $ 1,814 Total liabilities assumed 314 1,500 1,814 Noncontrolling interest 3,381 — 3,381 Net assets acquired $ 6,025 Total cash consideration 12,800 Goodwill $ 6,775 (a) Represents the fair value of mortgage servicing rights. (b) Represents the fair value adjustments to reflect the fair value of premises and equipment. (c) Represents an additional liability which was paid subsequent to acquisition. All goodwill related to this acquisition was allocated to the Company’s only reporting unit, which is the Company as a whole. The resulting goodwill is expected to be deductible for tax purpose. The estimated fair values are subject to refinement for up to one year after the closing date of the acquisition as additional information regarding closing date fair value becomes available. During this one-year period, the causes of any changes in cash flow estimates are considered to determine whether the change results from circumstances that existed at the acquisition date or if the change results from an event that occurred after the acquisition date. The Company has determined the above noted acquisition constitutes a business combination as defined by ASC Topic 805 , which establishes principles and requirements for how the acquirer of a business recognizes and measures in its financial statements the identifiable assets acquired and the liabilities assumed. The Company has recorded the assets purchased and liabilities assumed at their estimated fair value in accordance with ASC Topic 805 .

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Note 13 — Goodwill FASB ASC 350, Intangibles - Goodwill and Other , requires a company to perform an impairment test on goodwill annually, or more frequently if events or changes in circumstance indicate that the asset might be impaired, by comparing the fair value of such goodwill to its recorded or carrying amount. If the carrying amount of goodwill exceeds the fair value, an impairment charge must be recorded in an amount equal to the excess. During the purchase accounting of Century on December 28, 2021, Management assessed goodwill and concluded that no impairment existed during the year ended December 31, 2021. The following table presents the activity for goodwill (in thousands): December 31, 2021 2020 Balance at the beginning of year $ — $ — Goodwill acquired 6,775 — Balance at end of year $ 6,775 $ —

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2021
Other Assets [Abstract]
Other Assets	Note 14 — Other Assets Other assets were comprised of the following as of December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 Prepaid expenses $ 1,628 $ 1,261 Interest-only strips and deposits 166 642 Deferred costs 502 — Operating leases - right of use assets, net 3,744 4,780 Appraisal fees for loans in process 479 96 Other assets 305 — Total other assets $ 6,824 $ 6,779

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	Note 15 — Leases The Company adopted ASU 2016-02, Leases (Topic 842) and all subsequent related ASUs using the alternative transition method effective January 1, 2019. The Company has elected the package of practical expedients that permits the Company to not reassess prior conclusions about lease identification, lease classification and initial direct costs. The Company also elected all the new standard’s available transition practical expedients, including the short-term lease recognition exemption that includes not recognizing right-of-use (“ROU”) assets or lease liabilities for existing short-term leases, and the practical expedient to not separate lease and non-lease components for all leases. The Company determines if a contract arrangement is a lease at inception. The Company primarily enters into operating lease contracts for office space and certain equipment. As part of the property lease agreements, the Company may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise those options. The ROU lease asset also includes any lease payments made and lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company does not possess any leases that have variable lease payments or residual value guarantees. The Company uses its incremental borrowing rates to determine the present value of its lease liabilities. The weighted average borrowing rate was 5.86 % and 6.01 % as of December 31, 2021 and 2020, respectively. The Company’s leases have remaining terms ranging from 2 years to 5 years , and the weighted average remaining lease term was 2.4 years as of December 31, 2021. Short-term leases (initial term of less than 12 months) are not recorded on the balance sheet and lease expense is recognized on a straight-line basis over the lease term. As of December 31, 2021 and 2020, operating lease ROU assets included in other assets was $ 3.7 million and $ 4.8 million, respectively. Operating lease liabilities included in accounts payable and accrued expenses was $ 4.0 million and $ 5.1 million as of December 31, 2021 and 2020, respectively. Operating lease expense is a component of “Rent and occupancy” expense on the consolidated statements of income. Operating lease expense was $ 1.8 million and $ 1.5 million for the year ended December 31, 2021 and 2020, respectively, and included short-term leases that were immaterial. The following table presents supplemental cash flow information related to leases for the years ended December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,626 $ 1,524 ROU assets obtained in exchange for lease obligations: Operating leases $ 256 $ — The following table presents maturities of operating lease liabilities as of December 31, 2021 (in thousands): December 31, 2021 Operating Leases 2022 $ 1,615 2023 1,460 2024 1,153 2025 113 2026 48 Thereafter — Total lease payments 4,389 Less: Imputed interest ( 341 ) Present value of lease liabilities $ 4,048

Securitizations, Net

Securitizations, Net	12 Months Ended
	Dec. 31, 2021
Transfers And Servicing [Abstract]
Securitizations, Net	Note 16 — Securitizations, Net From May 2011 through December 31, 2021, the Company completed nineteen securitizations of $ 4.4 billion of loans, issuing $ 4.0 billion of securities to third parties through nineteen respective Trusts. The Company is the sole beneficial interest holder of the Trusts, which are variable interest entities included in the consolidated financial statements. The transactions are accounted for as secured borrowings under U.S. GAAP. The securities are subject to redemption by the Company when the stated principal balance is less than a certain percentage, ranging from 5 %– 30 % of the original stated principal balance of loans at issuance. As a result, the actual maturity dates of the securities issued could be earlier than their respective stated maturity dates. The following table summarizes securities issued, ownership retained by the Company at the time of the securitization, and as of December 31, 2021 and 2020, and the stated maturity for each securitization (in thousands): Securities Retained as of Trusts Securities Issuance December 31, December 31, Stated Maturity 2014-1 Trust $ 161,076 $ 30,682 $ — $ — September 2044 2015-1 Trust 285,457 27,372 15,526 15,522 July 2045 2016-1 Trust 319,809 38,792 17,633 17,931 April 2046 2016-2 Trust 166,853 23,402 — 9,514 October 2046 2017-1 Trust 211,910 11,154 — 11,154 April 2047 2017-2 Trust 245,601 12,927 4,064 6,232 October 2047 2018-1 Trust 176,816 9,308 2,849 6,015 April 2048 2018-2 Trust 307,988 16,210 6,608 9,762 October 2048 2019-1 Trust 235,580 12,399 6,180 11,540 March 2049 2019-2 Trust 207,020 10,901 5,922 9,728 July 2049 2019-3 Trust 154,419 8,127 4,799 6,441 October 2049 2020-1 Trust 248,700 13,159 8,678 13,085 February 2050 2020-2 Trust 96,352 32,118 12,847 12,847 June 2050 2020-MC1 Trust 179,371 96,585 108,891 98,260 July 2050 2021-1 Trust 251,301 13,227 12,518 — May 2051 2021-2 Trust 194,918 10,260 — — August 2051 2021-3 Trust 204,205 — — — October 2051 2021-4 Trust 319,116 — — — December 2051 Total $ 3,966,492 $ 366,623 $ 206,515 $ 228,031 The following table summarizes outstanding bond balances for each securitization as of December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 2014-1 Trust $ — $ 23,391 2015-1 Trust 17,536 36,966 2016-1 Trust 36,401 57,963 2016-2 Trust — 45,195 2017-1 Trust — 72,910 2017-2 Trust 86,497 129,478 2018-1 Trust 62,375 102,063 2018-2 Trust 143,152 200,451 2019-1 Trust 132,306 181,579 2019-2 Trust 122,205 158,199 2019-3 Trust 95,521 127,045 2020-1 Trust 174,550 220,052 2020-2 Trust 80,676 109,832 2020-MC1 Trust 35,711 137,794 2021-1 Trust 236,190 — 2021-2 Trust 197,744 — 2021-3 Trust 202,793 — 2021-4 Trust 315,489 — Total outstanding bond balance $ 1,939,146 $ 1,602,918 The securities and certificates are typically issued at a discount to par, which is recorded as a contra liability to the securities issued. The discount is amortized as an adjustment of yield over the stated term of the securities adjusted for prepayments. In 2018, the Company sold some retained securities at a premium, resulting in a net premium for the 2016-2 Trust. As of December 31, 2021 and 2020, unamortized discounts or premiums associated with the Trusts are as follows (in thousands): December 31, 2021 2020 2014-1 Trust $ — $ 85 2015-1 Trust 35 64 2016-1 Trust 84 259 2016-2 Trust — ( 5 ) 2017-1 Trust — 1,345 2017-2 Trust 12 18 2018-1 Trust 10 19 2018-2 Trust 16 23 2019-1 Trust 19 26 2019-2 Trust 10 14 2019-3 Trust 7 10 2020-1 Trust 5 7 2020-2 Trust 1,692 2,934 2020-MC1 Trust 385 2,219 2021-Trust 21 — 2021-2 Trust 214 — 2021-3 Trust 925 — 2021-4 Trust 838 — Professional and other capitalized issuance costs associated with the securitizations are recorded as a contra liability to the securities issued. As of December 31, 2021 and 2020, capitalized issuance costs associated with the Trusts are as follows (in thousands): December 31, 2021 2020 2014-1 Trust $ — $ 14 2015-1 Trust 32 272 2016-1 Trust 52 151 2016-2 Trust — 113 2017-1 Trust — 369 2017-2 Trust 808 1,343 2018-1 Trust 561 1,008 2018-2 Trust 1,371 1,937 2019-1 Trust 1,385 1,918 2019-2 Trust 1,325 1,890 2019-3 Trust 1,042 1,552 2020-1 Trust 2,032 2,636 2020-2 Trust 847 1,489 2020-MC1 Trust 380 2,190 2021-1 Trust 2,897 — 2021-2 Trust 2,757 — 2021-3 Trust 3,055 — 2021-4 Trust 4,449 — As of December 31, 2021 and 2020, the weighted average rate on the securities and certificates for the Trusts are as follows: December 31, 2021 2020 2014-1 Trust 8.86 % 7.46 % 2015-1 Trust 7.22 7.20 2016-1 Trust 8.22 7.78 2016-2 Trust 7.92 6.63 2017-1 Trust 7.16 5.31 2017-2 Trust 3.37 3.42 2018-1 Trust 4.04 4.04 2018-2 Trust 4.39 4.48 2019-1 Trust 4.02 4.01 2019-2 Trust 3.44 3.48 2019-3 Trust 3.26 3.26 2020-1 Trust 2.82 2.83 2020-2 Trust 4.45 4.55 2020-MC1 Trust 4.42 4.50 2021-1 Trust 1.73 — 2021-2 Trust 2.28 — 2021-3 Trust 2.45 — 2021-4 Trust 3.11 —

Other Debt

Other Debt	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Other Debt	Note 17 — Other Debt The secured financing and warehouse facilities are utilized to finance the origination and purchase of commercial real estate mortgage loans. Warehouse facilities are designated to fund mortgage loans that are purchased and originated within specified underwriting guidelines. These lines of credit fund less than 100 % of the principal balance of the mortgage loans originated and purchased, requiring the use of working capital to fund the remaining portion. (a) Secured Financing, Net (Corporate Debt) On February 5, 2021, the Company entered into a five-year $ 175.0 million syndicated corporate debt agreement, the (“2021 Term Loan”). The 2021 Term Loan bears interest at a rate equal to one-month LIBOR plus 8.00 % with a 1.00 % LIBOR floor, and matures on February 4, 2026 . The principal of the 2021 Term Loan amortizes quarterly at an annual rate of 2.50 % for the first year and 5.00 % per year thereafter. A portion of the net proceeds from the 2021 Term Loan was used to redeem all the amounts owed pursuant to the 2019 debt agreement (“2019 Term Loan”). The remaining portion of the net proceeds from the 2021 Term Loan was used for loan originations and general corporate purposes. As of December 31, 2021, the balance of the 2021 Term Loan was $ 170.8 million. The balance of the 2019 Term Loan was $ 78.0 million as of December 31, 2020. The balances in the consolidated balance sheets are net of debt issuance costs and discounts of $ 8.0 million and $ 3.0 million as of December 31, 2021 and December 31, 2020, respectively. The 2021 Term Loan is secured by substantially all assets of the Company not otherwise pledged under a securitization or warehouse facility and contains certain reporting and financial covenants. Should the Company fail to adhere to those covenants, the lenders have the right to demand immediate repayment that may require the Company to sell the collateral at less than the carrying amounts. As of December 31, 2021, the Company was in compliance with these covenants. (b) Warehouse Repurchase and Revolving Loan Facilities, Net On May 17, 2013 , the Company entered into a Repurchase Agreement (“the 2013 Repurchase Agreement”) with a warehouse lender. The 2013 Repurchase Agreement is a modified mark-to-market agreement and has a current maturity date of September 29, 2023 , and is a short-term borrowing facility, collateralized by a pool of performing loans, with a maximum capacity of $ 200.0 million, and bears interest at one-month LIBOR plus 3.25 %. All borrower payments on loans financed under the warehouse repurchase facility are first used to pay interest on the facility. The effective interest rates were 4.2 % and 4.3 %, for the years ended December 31, 2021 and 2020, respectively. On September 12, 2018 , the Company entered into a three-year non-mark to market secured revolving loan facility agreement (“the Bank Credit Agreement”) with a bank. The Bank Credit Agreement has a current extended maturity date of November 10, 2023 . During the borrowing period, the Company can take loan advances from time to time subject to availability. Each loan advance bears interest at the lesser of the one-month LIBOR with a 0.75 % floor, plus 3.5 % per annum and the maximum rate, which is the highest lawful and non-usurious rate of interest applicable to the loan. The maximum loan amount under this facility is $ 50 million. The effective interest rate was 7.3 % for the year ended December 31, 2021. On December 26, 2019 , the Company entered into a $ 3.0 million loan agreement (“the 2019 Loan”) with a lender. The 2019 Loan is secured by five real properties acquired by the Company through foreclosure or by deed-in lieu of foreclosure. The 2019 Loan bears a fixed interest rate of 9.5 %, with an extended maturity date of June 1, 2022 . The effective interest rate was 10.5 % for the year ended December 31, 2021. On January 29, 2021 , the Company entered into a non-mark-to-market Repurchase Agreement (“the 2021 Repurchase Agreement”) with a warehouse lender. The 2021 Repurchase Agreement has a current extended maturity date of February 28, 2023 , and was a short-term borrowing facility, collateralized by a pool of loans, with a maximum capacity of $ 200.0 million, and bore interest at one-month LIBOR plus a margin of 3.50 % during the availability period and 4.50 % during the amortization period. All borrower payments on loans financed under the warehouse repurchase facility are first used to pay interest on the facility. The effective interest rate was 5.9 % for the year ended December 31, 2021. On April 16, 2021 , The Company entered into a non-mark-to-market Term Repurchase Agreement (“the 2021 Term Repurchase Agreement”) with a warehouse lender. The 2021 Term Repurchase Agreement has a maturity date of April 16, 2024 , with a borrowing period through April 16, 2023. During the borrowing period, the Company can take loan advances from time to time subject to availability. Each loan advance bears interest at one-month LIBOR plus 3.0 % per annum. The maximum capacity under this facility is $ 100.0 million. There was no balance outstanding for the year ended December 31, 2021. On July 29, 2021 , the Company entered into a non-mark-to-market Term Repurchase Agreement (“the July 2021 Term Repurchase Agreement”) with a warehouse lender. The July 2021 Term Repurchase Agreement has a maturity date of July 29, 2024 , with an option to extend the term to July 29, 2025. During the borrowing period, the Company can take loan advances from time to time subject to availability. Each loan advance bears interest at one-month LIBOR with a 0.5 % floor plus 4.5 % per annum. The maximum capacity under this facility is $ 100.0 million. The effective interest rate was 3.5 %, for the year ended December 31, 2021. Certain of the Company’s loans are pledged as security under the warehouse repurchase facilities and the revolving loan facility, which contain covenants. Should the Company fail to adhere to those covenants or otherwise default under the facilities, the lenders have the right to terminate the facilities and demand immediate repayment that may require the Company to sell the collateral at less than the carrying amounts. As of December 31, 2021 and 2020, the Company was in compliance with these covenants. The following table summarizes the maximum borrowing capacity and current gross balances outstanding for the Company’s warehouse facilities and loan agreements as of December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 Period end (1) Maximum Period end (1) Maximum The 2021 term repurchase agreement $ 41,636 $ 100,000 $ — $ — The 2021 repurchase agreement 82,580 200,000 — — The July 2021 term repurchase agreement — 100,000 — — The 2013 repurchase agreement 153,499 200,000 73,502 100,000 The Bank credit agreement 22,385 50,000 — — The 2019 loan agreement 2,700 3,000 2,700 3,000 Total $ 302,800 $ 653,000 $ 76,202 $ 103,000 (1) Warehouse repurchase facilities amounts in the consolidated balance sheet are net of debt issuance costs amounting to $ 1.7 million and $ 0.3 million as of December 31, 2021 and 2020. The following table provides an overview of the activity and effective interest rate for the years ended December 31, 2021 and 2020 ($ in thousands): December 31, 2021 2020 Warehouse and repurchase facilities: Average outstanding balance $ 183,663 $ 168,098 Highest outstanding balance at any month-end 336,775 439,547 Effective interest rate (1) 5.28 % 4.97 % (1) Represents interest expense divided by average gross outstanding balance and includes average rate ( 4.23 %) and debt issue cost amortization ( 1.05 %) and average rate ( 4.31 %) and debt issue cost amortization ( 0.66 %) as of December 31, 2021 and 2020, respectively. The following table provides a summary of interest expense that includes debt issuance cost amortization, interest, amortization of discount, and deal cost amortization for the years ended December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 Warehouse and repurchase facilities $ 9,706 $ 8,352 Securitizations 75,680 79,474 Interest expense — portfolio related 85,386 87,826 Interest expense — corporate debt 20,609 12,049 (1) Total interest expense $ 105,995 $ 99,875 (1) Included in the $ 12.1 million of interest expense – corporate debt for the year ended December 31, 2020 was the one-time debt issuance costs write-off of $ 3.5 million and prepayment penalties of $ 0.3 million associated with the repayment of $ 75.0 million in outstanding principal amount in January 2020.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 18 — Income Taxes Prior to January 1, 2018, the Company was treated as a partnership and was generally not subject to income taxes. The Company elected to be treated as a corporation, for tax purposes, effective January 1, 2018. As a result, the Company calculated its deferred tax balance as of January 1, 2018 and, per U.S. GAAP, recognized a deferred tax liability of $ 5.5 million with a corresponding increase to income tax expense in January 2018, the period in which the change was made. The following table details the Company’s income tax expense (benefit) (in thousands): December 31, 2021 2020 Current tax expense: Federal $ 15,042 $ 4,454 State 5,477 ( 769 ) Total current tax expense $ 20,519 $ 3,685 Deferred tax expense (benefit): Federal $ ( 7,362 ) $ 564 State ( 2,588 ) 1,103 Total deferred tax expense (benefit) $ ( 9,950 ) $ 1,667 Total income tax expense $ 10,569 $ 5,352 The following table contains a reconciliation of the Company’s provision for income taxes at the federal statutory tax rate to the provision for income taxes at the effective tax rate as of December 31, 2021 and 2020: December 31, 2021 2020 Federal income tax provision at statutory rate 21.0 % 21.0 % State income taxes, net of federal tax benefit 5.6 8.6 Permanent items 0.1 0.1 Federal true-ups — 0.5 Tax credits ( 0.2 ) ( 0.4 ) Change in unrecognized tax benefit — ( 7.9 ) Other 0.1 1.2 Effective tax rate 26.6 % 23.1 % The changes in state income taxes and unrecognized tax benefit in the reconciliation are primarily due to changes in state apportionment and the related impacts on current taxes payable as well as the deferred tax asset. The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities as of December 31, 2021 and 2020 are presented below (in thousands): December 31, 2021 2020 Deferred tax assets: REMIC book-tax basis difference $ 10,433 $ 5,363 Mark-to-market on loans 7,066 3,052 Lease liability 1,151 1,462 Stock compensation 888 275 Accrued vacation 226 183 Intangibles 7 10 REO 225 — Other 82 83 Gross deferred tax assets 20,078 10,428 Deferred tax liabilities: Right-of-use assets ( 1,064 ) ( 1,363 ) Deferred origination costs ( 1,306 ) ( 1,014 ) Fixed assets ( 710 ) ( 975 ) Deferred state taxes ( 394 ) ( 341 ) REO — ( 81 ) Gross deferred tax liabilities ( 3,474 ) ( 3,774 ) Total net deferred tax asset $ 16,604 $ 6,654 The Company’s main temporary difference is due to the difference between the U.S. income tax and U.S. GAAP treatment with respect to its REMIC securities. For tax purposes, the issuances are considered taxable sales; whereas, for U.S. GAAP purposes, the REMIC issuances are considered financings. The Company had no valuation allowance as of December 31, 2021 and 2020. Based on the Company’s estimates of taxable income over the years in which the items giving rise to the deferred tax assets are deductible, management believes it is more likely than not the Company will realize the benefits of these deductible differences. The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state, and local jurisdictions, where applicable. As of December 31, 2021, the Company is no longer subject to U.S. tax examinations for years before 2017 and is no longer subject to state tax examinations for years before 2016. The Company periodically reviews its income tax positions based on tax laws and regulations and financial reporting considerations, and records adjustments as appropriate. This review takes into consideration the status of current taxing authorities' examinations of the Company's tax returns, recent positions taken by the taxing authorities on similar transactions, if any, and the overall tax environment. The Company had gross unrecognized tax benefits in the amounts of $ 1.9 million recorded as of December 31, 2021 and 2020 . If recognized, $ 1.5 million of the unrecognized tax benefit would affect the 2021 annual effective tax rate. Interest and penalties on unrecognized tax benefits is reported by the Company as a component of tax expense, and the Company recorded interest and penalties in its consolidated statements of income in the amount of $ 0.1 million and $( 0.5 ) million as of December 31, 2021 and 2020, respectively. As of December 31, 2021 and 2020 , the accrued interest and penalties related to unrecognized tax benefits is $ 0.6 million and $ 0.5 million, respectively. There are no positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within 12 months of the reporting date. Detailed below is a reconciliation of the Company's gross unrecognized tax benefits for the years ended December 31, 2021 and 2020, respectively (in thousands): December 31, 2021 2020 Beginning balance $ 1,860 $ 3,559 Changes related to current year tax positions 49 46 Changes related to prior year tax positions 2 ( 1,745 ) Ending balance $ 1,911 $ 1,860

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	Note 19 — Stock-Based Compensation The Company’s 2020 Omnibus Incentive Plan, or the 2020 Plan, authorized grants of stock-based compensation instruments to purchase or issue up to 1,520,000 shares of Company common stock, 228,489 shares, including forfeitures, are available for grant under the 2020 Plan as of December 31, 2021. (a) Stock Options In connection with its IPO in January 2020, the Company granted stock options to non-employee directors and certain employees, including named executive officers, to purchase approximately 782,500 shares of common stock with an exercise price per share equal to the initial public offering price of $ 13.00 . On December 24, 2020, the Company granted stock options to a non-employee director to purchase 12,500 shares of common stock with an exercise price per share equal to the grant date market price of $ 6.28 . The Company uses the Black-Scholes option pricing model to value stock options in determining the stock-based compensation expense. Forfeitures are recognized as they occur. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the date of grant. The expected dividend yield was zero as the Company is not expected to pay dividends in the foreseeable future. Expected volatility is based on the estimated average maximum volatility provided by a third-party investment bank due to the lack of historical volatilities of the Company’s common stock. There were no stock options granted in the year ended December 31, 2021. The following table present the assumptions used in the option pricing model at the grant date for options granted in the year ended December 31, 2020: Assumptions: December 31, 2020 Expected volatility 0.28 Expected dividends — Risk-free interest rate 1.50 Expected forfeited rate — The tables below summarize stock option activity during the years ended December 31, 2021 and 2020: December 31, 2021 ($ in thousands, except per share amounts) Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Options outstanding at beginning of year 785,000 $ 12.89 Granted — — Exercised — — Forfeited — — Options outstanding at end of year 785,000 $ 12.89 8.1 years $ 93 Options exercisable at end of year 261,667 $ 12.89 8.1 years $ 31 Options expected to vest (1) 523,333 $ 12.89 8.1 years $ 62 December 31, 2020 ($ in thousands, except per share amounts) Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Options outstanding at beginning of year — $ — Granted 795,000 12.89 Exercised — — Forfeited ( 10,000 ) 13.00 Options outstanding at end of year 785,000 $ 12.89 9.1 years — Options exercisable at end of year — $ — 9.1 years — Options expected to vest (1) 785,000 $ 12.89 9.1 years — (1) The number of options expected to vest reflects no expected forfeiture . The aggregate intrinsic value represents the amount by which the fair value of underlying stock exceeds the “in-the-money” option exercise price. Stock options vest ratably over a service period of three years from the date of the grant. Compensation expense related to stock options is based on the fair value of the underlying stock on the award date and is recognized over the vesting period using the straight-line method. Unvested stock options outstanding were 523,333 and 785,000 shares as of December 31, 2021 and 2020, respectively, at a weighted average exercise price per share of $ 12.89 . (b) Restricted Stock Awards In January 2021, the Company issued 480,000 shares of restricted stock awards to certain employees, including named executive officers, at no cost to employees. In May 2021, the Company issued 26,511 shares of restricted stock awards to certain non-employee directors. The fair value of restricted stock awards is determined based on the fair market value of the Company's common shares on the grant date. The estimated fair value of restricted stock awards is amortized as an expense over the three-year requisite service period. The Company has elected to recognize forfeitures as they occurred rather than estimating service-based forfeitures over the requisite service period. The table below summarizes restricted stock award activity during the year ended December 31, 2021: Employee Non-Employee Director Total Restricted Stock Awards Restricted Stock Awards Restricted Stock Awards ($ in thousands, except per share amounts) Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2020 — $ — — $ — — $ — Granted 480,000 7.04 26,511 10.75 506,511 7.23 Exercised — — — — — — Forfeited — — — — — — Nonvested at December 31, 2021 480,000 $ 7.04 26,511 $ 10.75 506,511 $ 7.23 The Company recognized $ 2.1 million and $ 0.9 million total stock compensation expense related to the outstanding stock options and restricted stock awards granted to employees during the years ended December 31, 2021 and 2020, respectively. Such amount is included in “Compensation and employee benefits” on the consolidated statement of income. The amount of unrecognized compensation expense related to unvested stock options and restricted stock awards totaled $ 3.6 million and $ 2.1 million as of December 31, 2021 and 2020, respectively.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Note 20 — Earnings (Loss) Per Share The two-class method is used in the calculation of basic and diluted earnings per share. Under the two-class method, earnings available to common shareholders for the period are allocated between common shareholders and participating securities according to dividends declared (or accumulated) and participation rights in undistributed earnings. Basic earnings per share is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if stock options or other contracts to issue common stock were exercised or converted into common stock and resulted in the issuance of common stock that shared in earnings. The following table presents the basic and diluted income (loss) per share calculations for the years ended December 31, 2021 and 2020: December 31, 2021 2020 (In thousands, except per share data) Basic EPS: Net income $ 29,224 $ 17,777 Less: deemed dividends on preferred stock — 48,955 Net income (loss) allocated to common stock $ 29,224 $ ( 31,178 ) Less: earnings allocated to participating securities 8,589 — Net earnings (loss) allocated to common stock $ 20,635 $ ( 31,178 ) Weighted average common shares outstanding 22,813 20,087 Basic income (loss) per common share $ 0.90 $ ( 1.55 ) Diluted EPS: Net income (loss) allocated to common shareholders $ 20,635 $ ( 31,178 ) Weighted average common shares outstanding 22,813 20,087 Add dilutive effects for assumed conversion of Series A preferred stock 8,989 — Add dilutive effects for warrants 1,974 — Add dilutive effects for stock options 3 — Add dilutive effects of unvested restricted stock awards 203 — Weighted average diluted common shares outstanding 33,982 20,087 Diluted income (loss) per common share $ 0.86 $ ( 1.55 ) The following table sets forth the number of shares excluded from the computation of diluted loss per share, as their inclusion would have been anti-dilutive (in-thousands): December 31, 2021 2020 Shares underlying Series A Convertible Preferred Stock — 11,688 Shares underlying warrants — 3,013 Stock options 773 785 Unvested restricted stock awards — — Shares equivalents excluded from EPS 773 15,486

Convertible Redeemable Preferre

Convertible Redeemable Preferred Stock	12 Months Ended
	Dec. 31, 2021
Convertible Redeemable Preferred Stock [Abstract]
Convertible Redeemable Preferred Stock	Note 21 — Convertible Redeemable Preferred Stock On April 7, 2020, the Company issued and sold in a private placement 45,000 newly issued shares of Series A Convertible Preferred Stock, par value $ 0.01 per share (the “Preferred”), at a price per share of $ 1,000 , plus warrants (the “Warrants”) to purchase an aggregate of 3,013,125 shares of the Company’s common stock to funds affiliated with Snow Phipps and a fund affiliated with Pacific Investment Management Company LLC (TOBI). Snow Phipps and TOBI are considered affiliates and, therefore, are related parties to the Company. This offering resulted in net proceeds to the Company of $ 43.2 million. In connection with these transactions, the Company entered into a securities purchase agreement with Snow Phipps and TOBI granting TOBI the right to nominate an additional director to the Company’s board of directors for so long as TOBI and its permitted transferees meet certain ownership thresholds. On October 8, 2021, the Company exercised its option to convert all of its 45,000 outstanding shares of Series A Convertible Preferred Stock into 11,688,310 shares of our common stock. The Certificate of Designation of the Series A Convertible Preferred Stock authorized the Company to convert the Series A Convertible Preferred Stock into common stock as its common stock Volume Weighted Average Price "VW AP" met the requisite conditions. The Warrants are exercisable at the warrantholder’s option at any time and from time to time, in whole or in part, until April 7, 2025 at an exercise price of $ 2.96 per share of common stock, with respect to 2,008,750 of the Warrants, and at an exercise price of $ 4.94 per share of common stock, with respect to 1,004,375 of the Warrants. The exercise price and the number of shares of common stock issuable upon exercise of the Warrants are subject to customary antidilution adjustments and certain issuances of common stock (or securities convertible into or exercisable for common stock) at a price (or having a conversion or exercise price) that is less than the then current exercise price. The Company is not required to affect an exercise of Warrants, if after giving effect to the issuance of common stock upon exercise of such Warrants such warrantholder together with its affiliates would beneficially own 49 % or more of the Company’s outstanding common stock. The Company determined that none of the features embedded in the Preferred were required to be accounted for separately as a derivative. The Preferred was recorded as mezzanine equity (temporary equity) on the consolidated balance sheets because it was not mandatorily redeemable, but did contain a redemption feature at the option of the preferred stock-holders that was considered not solely within the Company’s control. Because the Preferred could have become redeemable at any time after 2.5 years from the Closing Date of April 7, 2020 , the Company elected to recognize the changes in the maximum redemption value immediately as they occurred and adjusted the carrying value of the Preferred to equal the maximum redemption value at the end of each reporting period which was viewed as the redemption date for the Preferred. As of December 31, 2020, the Company recognized redemption value of $ 90 million, which was the maximum redemption value on the earliest redemption date based on a redemption value of $ 2,000 per share and 45,000 shares of Preferred. The recording of the Preferred maximum redemption value was treated as a deemed dividend and resulted in a $ 49 million charge to Shareholders’ Equity.

Concentration of Risk

Concentration of Risk	12 Months Ended
	Dec. 31, 2021
Risks And Uncertainties [Abstract]
Concentration of Risk	Note 22 — Concentration of Risk The Company originates and purchases loans secured by a broad spectrum of commercial property throughout the United States. As of December 31, 2021 and 2020, geographic and property type concentrations of loans, by unpaid principal balance, were as follows: December 31, 2021 2020 Geographic concentration: California 23.3 % 23.5 % New York 21.4 22.8 Florida 13.5 11.5 New Jersey 7.7 8.1 Other states (individually less than 5.0%) 34.1 34.1 100.0 % 100.0 % December 31, 2021 2020 Property type concentration: Investor 1-4 50.7 % 50.0 % Mixed use 12.8 13.3 Multifamily 8.8 9.4 Retail 9.1 8.8 Office 6.1 5.6 Warehouse 6.7 6.1 Other (individually less than 5.0%) 5.8 6.8 100.0 % 100.0 % As of December 31, 2021 and 2020 , the Company held $ 17.6 million and $ 15.8 million, respectively, of real estate owned, net, with geographic concentrations as follows: December 31, 2021 2020 Geographic concentration: Maryland 21.4 % 23.5 % Connecticut 6.1 21.7 Ohio 11.9 10.7 California 24.9 7.9 North Carolina 1.1 7.6 Arizona — 7.1 Alabama — 6.0 New Jersey 10.7 2.5 Other states (individually less than 5.0%) 23.9 13.0 100.0 % 100.0 %

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 23 — Commitments and Contingencies (a) Repurchase Liability When the Company sells loans, it is required to make normal and customary representations and warranties about the loans to the purchaser. The loan sale agreements generally require the Company to repurchase loans if the Company breaches a representation or warranty given to the loan purchaser. In addition, the Company may be required to repurchase loans as a result of borrower fraud or if a payment default occurs on a loan shortly after its sale. The Company records a repurchase liability relating to representations and warranties and early payment defaults. The method used to estimate the liability for repurchase is a function of the representations and warranties given and considers a combination of factors, including, but not limited to, estimated future defaults and loan repurchase rates and the potential severity of loss in the event of defaults. The Company establishes a liability at the time loans are sold and continually update the estimated repurchase liability. The level of the repurchase liability for representations and warranties and early payment default requires considerable management judgment. The Company regularly evaluates the adequacy of repurchase reserves based on trends in repurchase, actual loss experience, estimated future loss exposure and other relevant factors including economic conditions. The Company believes its reserve balance of $ 141 thousand as of December 31, 2021 was sufficient to cover future loss exposure associated with repurchase contingencies. (b) Legal Proceedings The Company is a party to various legal proceedings in the normal course of business. The Company, after consultation with legal counsel, believes the disposition of all pending litigation will not have a material effect on the Company’s consolidated financial statements.

Retirement Plan

Retirement Plan	12 Months Ended
	Dec. 31, 2021
Compensation And Retirement Disclosure [Abstract]
Retirement Plan	Note 24— Retirement Plan The Company maintains a qualified 401(k) retirement plan in accordance with the Internal Revenue Service code. Employees meeting certain eligibility requirements as detailed in the plan document may participate by deferring eligible compensation into the plan. The plan allows for discretionary employer matching contribution. For the years ended December 31, 2021, 2020 and 2019 , the Company expensed $ 579 thousand, $ 476 thousand, and $ 366 thousand, respectively. These amounts are included in "compensation and employee benefits" on the consolidated statements of income.

Other Operating Expenses

Other Operating Expenses	12 Months Ended
	Dec. 31, 2021
Other Operating Expenses [Abstract]
Other Operating Expenses	Note 25 — Other Operating Expenses The following table presents the components of other operating expenses for the years ended December 31, 2021, 2020 and 2019 (in thousands): December 31, 2021 2020 2019 Travel, marketing and business development $ 661 $ 578 $ 1,307 Data processing and telecommunications 2,476 2,150 2,094 Office expenses 1,396 1,579 1,891 Insurance, taxes, and licenses 2,457 2,179 470 Other (1) 1,498 1,914 219 Total other operating expenses $ 8,488 $ 8,400 $ 5,981 (1) Other expenses increased in 2020 due to costs associated with operating as a public company, including SEC filing fees and Board of Directors fees.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Note 26 — Related Party Transactions On April 7, 2020, the Company issued and sold in a private placement 45,000 newly issued shares of Series A Convertible Preferred Stock, par value $ 0.01 per share (the “Preferred”), at a price per share of $ 1,000 , plus warrants (the “Warrants”) to purchase an aggregate of 3,013,125 shares of the Company’s common stock to funds affiliated with Snow Phipps and a fund affiliated with Pacific Investment Management Company LLC (TOBI). Snow Phipps and TOBI are considered affiliates and, therefore, are related parties to the Company. On October 8, 2021, the Company exercised its option to convert all of its 45,000 outstanding shares of Series A Convertible Preferred Stock into 11,688,310 shares of its common stock. In the ordinary course of business, the Company sells held for sale loans to various financial institutions. From time to time, the Company sells held for sale loans to an affiliate of TOBI.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 27 — Fair Value Measurements a) Fair Value Determination ASC Topic 820, “ Fair Value Measurement ,” defines fair value, establishes a framework for measuring fair value including a three-level valuation hierarchy, and requires disclosures about fair value measurements. Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date reflecting assumptions that a market participant would use when pricing an asset or liability. The hierarchy uses three levels of inputs to measure the fair value of assets and liabilities as follows: • Level 1 - Valuation is based on quoted prices for identical instruments traded in active markets. • Level 2 - Valuation is based on quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable and can be corroborated by market data. • Level 3 - Valuation is based on significant unobservable inputs for determining the fair value of assets or liabilities. These significant unobservable inputs reflect assumptions that market participants may use in pricing the assets or liabilities. Given the nature of some of the Company’s assets and liabilities, clearly determinable market-based valuation inputs are often not available; therefore, these assets and liabilities are valued using internal estimates. As subjectivity exists with respect to the valuation estimates used, the fair values disclosed may not equal prices that can ultimately be realized if the assets are sold or the liabilities are settled with third parties. Below is a description of the valuation methods for the assets and liabilities recorded at fair value on either a recurring or nonrecurring basis and for estimating fair value of financial instruments not recorded at fair value for disclosure purposes. While management believes the valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the measurement date. b) Cash and Cash Equivalents and Restricted Cash Cash and restricted cash are recorded at historical cost. The carrying amount is a reasonable estimate of fair value as these instruments have short-term maturities and interest rates that approximate market, a Level 1 measurement. c) Loans Held for Investment Loans held for investment are recorded at their outstanding principal balance, net of purchase discounts, deferred loan origination fees/costs, and allowance for credit losses. The Company determined the fair value estimate of loans held for investment using a third-party loan valuation model, a Level 3 measurement. The significant unobservable inputs used in the fair value measurement of the Company’s mortgage loans held for investment are discount rates, prepayment speeds, loss severity, and default rates. Significant changes in any of those inputs could result in a significant change to the loans’ fair value measurement. d) Collateral Dependent or Loans Individually Evaluated Nonaccrual loans held for investment are evaluated individually and are recorded at fair value on a nonrecurring basis. To the extent a loan is collateral dependent, the Company determines the allowance for credit losses based on the estimated fair value of the underlying collateral. The fair value of each loan’s collateral is generally based on appraisals or broker price opinions obtained, less estimated costs to sell, a Level 3 measurement. e) Loans Held for Sale Loans held for sale are carried at the lower of cost or fair value, with fair value adjustments recorded on a nonrecurring basis. The Company uses a discounted cash flow model to estimate the fair value of loans held for sale, a Level 3 measurement. f) Interest-Only Strips The Company retains an interest-only strip on certain sales of held for sale loans. The interest-only strips are classified as trading securities under FASB ASC Topic 320, Investments-Debt Securities . The interest-only strips are measured based on their estimated fair values using a discounted cash flow model, a Level 3 measurement. Changes in fair value are reflected in income as they occur. g) Loans Held for Investment, at Fair Value The Company has elected to account for certain purchased distressed loans held for investment, at fair value (the FVO Loans) using FASB ASC Topic 825, Financial Instruments (ASC 825). The FVO loans are measured based on their estimated fair values. Management identified all of these loans to be accounted for at estimated fair value at the instrument level. Changes in fair value are reflected in income as they occur. The Company uses a modified discounted cash flow model to estimate the fair value at instrument level, a Level 3 measurement. The significant unobservable inputs used in the fair value measurement of the Company’s mortgage loans held for investment, at fair value are discount rate, property values, prepayment speeds, loss severity, and default rates. Significant changes in any of those inputs in isolation could result in a significant change to the loans’ fair value measurement. h) Real Estate Owned, Net (REO) Real estate owned, net is initially recorded at the property’s estimated fair value, based on appraisals or broker price opinions obtained, less estimated costs to sell, at the acquisition date, a Level 3 measurement. From time to time, nonrecurring fair value adjustments are made to real estate owned, net based on the current updated appraised value of the property, or management’s judgment and estimation of value based on recent market trends or negotiated sales prices with potential buyers. i) Mortgage Servicing Rights The Company determined the fair values based on a third-party valuation model that calculates the present value of estimated future net servicing income, a Level 3 measurement. j) Secured Financing, Net (Corporate Debt) The Company determined the fair values estimate of the secured financing using the estimated cash flows discounted at an appropriate market rate, a Level 3 measurement. k) Warehouse Repurchase Facilities, Net Warehouse repurchase facilities are recorded at historical cost. The carrying amount is a reasonable estimate of fair value as these instruments have short-term maturities of one-year or less and interest rates that approximate market plus a spread, a Level 2 measurement. l) Securitizations, Net The fair value estimate of securities issued is determined by using estimated cash flows discounted at an appropriate market rate, a Level 3 measurement. m) Accrued Interest Receivable and Accrued Interest Payable The carrying amounts of accrued interest receivable and accrued interest payable approximate fair value due to the short-term nature of these instruments, a Level 1 measurement. The Company does not have any off-balance sheet financial instruments. n) Receivables Due From Servicers The carrying amounts of receivables due from servicers approximate fair value due to the short-term nature of these instruments, a Level 1 measurement. o) Fair Value Disclosures The following tables present information on assets measured and recorded at fair value as of December 31, 2021 and 2020, by level, in the fair value hierarchy (in thousands): Fair value measurements using Total at December 31, 2021 Level 1 Level 2 Level 3 fair value Recurring fair value measurements: Loans held for investment, at fair value $ — $ — $ 1,359 $ 1,359 Mortgage servicing rights — — 7,152 7,152 Total recurring fair value measurements — — 8,511 8,511 Nonrecurring fair value measurements: Loans held for sale, net — — 87,422 87,422 Real estate owned, net — — 17,557 17,557 Individually evaluated loans requiring specific allowance, net — — 11,987 11,987 Total nonrecurring fair value measurements — — 116,966 116,966 Total assets $ — $ — $ 125,477 $ 125,477 Fair value measurements using Total at December 31, 2020 Level 1 Level 2 Level 3 fair value Recurring fair value measurements: Loans held for investment, at fair value $ — $ — $ 1,539 $ 1,539 Interest-only strips — — 238 238 Total recurring fair value measurements — — 1,777 1,777 Nonrecurring fair value measurements: Loans held for sale, net — — 13,106 13,106 Real estate owned, net — — 15,767 15,767 Impaired loans requiring specific allowance, net — — 19,340 19,340 Total nonrecurring fair value measurements — — 48,213 48,213 Total assets $ — $ — $ 49,990 $ 49,990 The following table presents gain (losses) recognized on assets measured on a nonrecurring basis for the years indicated (in thousands): December 31, Gain (loss) on assets measured on a nonrecurring basis 2021 2020 2019 Loans held for sale, net $ 17 $ 328 $ ( 224 ) Real estate held for sale, net ( 1,759 ) ( 1,734 ) ( 1,631 ) Individually evaluated loans requiring specific allowance, net 1,262 ( 1,755 ) ( 277 ) Total net loss $ ( 480 ) $ ( 3,161 ) $ ( 2,132 ) The following tables present the primary valuation techniques and unobservable inputs related to Level 3 assets as of December 31, 2021 and 2020 ($ in thousands): December 31, 2021 Asset category Fair value Primary Unobservable Range Weighted Individually evaluated $ 11,987 Market comparables Selling costs 8.0 % 8.0 % Real estate owned, net 17,557 Market comparables Selling costs 8.0 % 8.0 % Loans held for 1,359 Discounted cash flow Discount rate 5.8 % 5.8 % Collateral value 95.0 % to 120.0 % 106.0 % Timing of resolution/payoff 1 to 38 34.8 Prepayment rate 19.2 % to 50 % 19.2 % to 50 % Default rate 0.0 % to 6.7 % 1.0 % Loss severity rate 0.0 % to 13.4 % 3.0 % Loans held for sale 87,422 Discounted cash flow Discount rate 5.8 % 5.8 % Timing of resolution/payoff 3 to 37 13.0 Mortgage servicing rights 7,152 Discounted cash flow Discount rate 8.0 % to 12.0 % 8.0 % Prepayment rate 2.4 % to 3.5 % 3.2 % December 31, 2020 Asset category Fair value Primary Unobservable Range Weighted Individually evaluated $ 19,340 Market comparables Selling costs 8.0 % 8.0 % Real estate owned, net 15,767 Market comparables Selling costs 8.0 % 8.0 % Loans held for 1,539 Discounted cash flow Discount rate 6.2 % 6.2 % Collateral value 94.0 % to 104.0 % 100.0 % Timing of resolution/payoff 14 to 31 25.0 Prepayment rate 17.5 % to 30.0 % 17.5 % to 30.0 % Default rate 5.0 % to 15.0 % 12.0 % Loss severity rate 1.0 % 1.0 % Loans held for sale 13,106 Discounted cash flow Discount rate 6.2 % 6.2 % Timing of resolution/payoff 31 to 34 32.0 Interest-only strips 238 Discounted cash flow Discount rate 15.0 % 15.0 % Timing of resolution/payoff 0 to 12 1.5 The following is a rollforward of loans that are measured at estimated fair value on a recurring basis for the years indicated (in thousands): December 31, 2021 2020 2019 Beginning balance $ 1,539 $ 2,960 $ 3,463 Loans liquidated ( 163 ) ( 1,808 ) ( 421 ) Principal paydowns ( 46 ) ( 55 ) ( 73 ) Total unrealized gain (loss) included in net 29 442 ( 9 ) Ending balance $ 1,359 $ 1,539 $ 2,960 The following is a rollforward of interest-only strips that are measured at estimated fair value on a recurring basis for the years indicated (in thousands): December 31, 2021 2020 2019 Beginning balance $ 238 $ 894 $ 812 Interest-only strip additions — 1,820 2,495 Interest-only strip write-offs ( 238 ) ( 2,469 ) ( 2,202 ) Total unrealized loss included in net — ( 7 ) ( 211 ) Ending balance $ — $ 238 $ 894 The Company estimates the fair value of certain financial instruments on a quarterly basis. These instruments are recorded at fair value using a valuation allowance only if they are impaired. As described above, these adjustments to fair value usually result from the application of lower of cost or fair value accounting or write-downs of individual assets. As of December 31, 2021 and 2020 , the only financial assets measured at fair value were certain impaired loans held for investment, loans held for sale, interest-only strips, REO and FVO loans, which were measured using unobservable inputs, including appraisals and broker price opinions on the values of the underlying collateral. Impaired loans were carried at approximately $ 12.0 million and $ 19.3 million as of December 31, 2021 and 2020 , net of specific allowance for loan losses of approximately $ 1.4 million and $ 2.7 million, respectively. A financial instrument is cash, evidence of an ownership interest in an entity, or a contract that creates a contractual obligation or right to deliver or receive cash or another financial instrument from a second entity on potentially favorable terms. The methods and assumptions used in estimating the fair values of the Company’s financial instruments are described above. The following tables present carrying amounts and estimated fair values of certain financial instruments as of the dates indicated (in thousands): December 31, 2021 Carrying Estimated Asset category Value Level 1 Level 2 Level 3 Fair Value Assets: Cash $ 35,965 $ 35,965 $ — $ — $ 35,965 Restricted cash 11,639 11,639 — — 11,639 Loans held for sale, net 87,908 — — 87,908 87,908 Loans held for investment, net 2,527,564 — — 2,655,357 2,655,357 Loans held for investment, at fair value 1,359 — — 1,359 1,359 Accrued interest receivables 13,159 13,159 — — 13,159 Mortgage servicing rights 7,152 — — 7,152 7,152 Liabilities: Secured financing, net $ 162,845 $ — $ — $ 170,843 $ 170,843 Warehouse and repurchase facilities, net 301,069 — 301,069 — 301,069 Securitizations, net 1,911,879 — — 1,931,002 1,931,002 Accrued interest payable 6,254 6,254 — — 6,254 December 31, 2020 Carrying Estimated Asset category Value Level 1 Level 2 Level 3 Fair Value Assets: Cash $ 13,273 $ 13,273 $ — $ — $ 13,273 Restricted cash 7,020 7,020 — — 7,020 Loans held for sale, net 13,106 — — 13,272 13,272 Loans held for investment, net 1,948,089 — — 2,003,301 2,003,301 Loans held for investment, at fair value 1,539 — — 1,539 1,539 Accrued interest receivable 11,373 11,373 — — 11,373 Interest-only strips 238 — — 238 238 Liabilities: Secured financing, net $ 74,982 $ — $ — $ 78,000 $ 78,000 Warehouse repurchase facilities, net 75,923 — 75,923 — 75,923 Securitizations, net 1,579,019 — — 1,616,222 1,616,222 Accrued interest payable 5,503 5,503 — — 5,503

Select Quarterly Financial Data

Select Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]
Select Quarterly Financial Data (Unaudited)	Note 28 — Select Quarterly Financial Data (Unaudited) The following tables set forth the Company's unaudited quarterly results for the periods indicated: Three Months Ended December 31, September 30, June 30, March 31, December 31, September 30, June 30, March 31, (in thousands) Interest income $ 49,360 $ 46,923 $ 44,978 $ 40,707 $ 41,556 $ 41,374 $ 39,755 $ 44,637 Interest expense - portfolio related 23,666 20,321 20,566 20,832 21,442 22,347 21,189 22,848 Net interest income - portfolio related 25,694 26,602 24,412 19,875 20,114 19,027 18,566 21,789 Interest expense - corporate debt 4,462 4,488 4,309 7,350 1,900 1,913 1,894 6,342 Net interest income 21,232 22,114 20,103 12,525 18,214 17,114 16,672 15,447 Provision for (reversal of) loan losses 377 228 ( 1,000 ) 105 406 1,573 1,800 1,290 Net interest income after provision 20,855 21,886 21,103 12,420 17,808 15,541 14,872 14,157 Other operating income (expense) 2,617 339 2,432 2,801 4,691 1,349 ( 1,339 ) 1,620 Operating expenses 12,095 11,298 10,650 10,617 10,746 11,865 10,908 12,050 Income before income taxes 11,377 10,927 12,885 4,604 11,753 5,025 2,625 3,727 Income tax expense 3,024 2,905 3,432 1,208 2,177 1,544 484 1,148 Net income $ 8,353 $ 8,022 $ 9,453 $ 3,396 $ 9,576 $ 3,481 $ 2,141 $ 2,579

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 29 — Subsequent Events The Company completed the securitization of $ 273.6 million of investor real estate loans on February 15, 2022 which will be accounted for as secured borrowings during the quarter ending March 31, 2022. The Company has evaluated events that have occurred subsequent to December 31, 2021 and has concluded there are no other subsequent events that would require recognition in the accompanying consolidated financial statements.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of consolidated income and expenses during the reporting period.
Principles of Consolidation	Principles of Consolidation The principles of consolidation require management to determine and reassess the requirement to consolidate VIEs each reporting period, and therefore, the determination may change based on new facts and circumstances pertaining to each VIE. This could result in a material impact to the Company’s consolidated financial statements in subsequent reporting periods. The Company consolidates the assets, liabilities, and remainder interests of the Trusts as management determined that VCC is the primary beneficiary of these entities. The Company’s ongoing asset management responsibilities provide the Company with the power to direct the activities that most significantly impact the VIE’s economic performance, and the remainder interests provide the Company with the right to receive benefits and the obligation to absorb losses, limited to its investment in the remainder interest of the Trusts. The consolidated financial statements as of December 31, 2021 and 2020 include only those assets, liabilities, and results of operations related to the business of the Company, its subsidiaries, and VIEs.
Business Combination	Business Combination The Company accounts for its business combinations using the acquisition method of accounting. Assets acquired and the liabilities assumed as part of a business combination are recognized separately from goodwill at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. The Company, with the assistance of outside specialists as necessary, use estimates and assumptions to value assets acquired and liabilities assumed at the acquisition date as well as contingent consideration, where applicable. The Company may refine these estimates during the measurement period which may be up to one year from the acquisition date. As a result, during the measurement period, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Consolidated Statements of Income.
Restricted Cash	Restricted Cash Restricted cash consisted of the required specified reserves by the 2020-2 and 2020-MC1 Trust agreements to pay the notes on each payment date if collections on mortgage loans are insufficient to make payments on the notes, and cash held by the Company for potential future advances due certain borrowers.
Loans Held for Investment and Loans Held for Sale	Loans Held for Investment and Loans Held for Sale Except for loans originated in accordance with the guidelines of Ginnie Mae's program, which loans are originated with the intent to sell, originated loans and purchased loans are classified as held-for-investment when management has the intent and ability to hold such loans for the foreseeable future or until maturity. Loans held for investment are carried at their outstanding principal balance, adjusted for net deferred loan origination costs and fees and allowance for loan losses. Interest income is accrued on the unpaid principal balance (UPB) at their respective stated interest rates. Generally, loans are placed on nonaccrual status when they become 90 days past due. Loans are considered past due when contractually required principal or interest payments have not been made on the due dates. When a loan is placed on nonaccrual status, the accrued and unpaid interest is reversed as a reduction of interest income and accrued interest receivable. Interest income is subsequently recognized only to the extent cash payments are received or when the loan has been placed back in accrual status. Loans are restored to accrual status when (1) the loan becomes current and none of its principal and interest is due and unpaid, and the Company expects repayment of the remaining contractual principal and interest, or (2) if the loan has been formally restructured in a manner that reasonably assures repayment and performance according to its modified terms. Under these terms, the Company requires that the borrower continue to make the full restructured principal and interest payments for six consecutive months before restoring the loan to accrual status. The deferred loans under the Company’s forbearance program are considered current at the time of deferral, and the Company continues to accrue interest on these loans. Deferred loans that subsequently went 90 days past due after the deferral date were placed on nonaccrual status with any accrued interest income reversed through earnings. The Company evaluates the COVID-19 forbearance-granted loans on an individual basis to determine if a reserve should be established on the collectability of the accrued interest and whether any loans should be placed on nonaccrual status. For originated loans, net deferred loan origination costs are amortized to interest income using the level yield method. Loans are classified as held for sale when management has the intent to sell them. They are carried at lower of cost or estimated fair value. The Century loans are considered as held for sale until they meet the sale criteria describe below which is generally when they are delivered to GNMA in exchange for GNMA securities. On occasion, as part of the Company’s management strategy of the loans held in its portfolio, the Company will transfer loans from held for investment to held for sale. Upon transfer, any associated allowance for loan loss is charged off and the carrying value of the loan is adjusted to the lower of cost or estimated fair value. The net deferred fees and costs associated with loans held for sale are deferred (not accreted or amortized to interest income) until the related loans are sold. The Company recognizes transfers of loans as sales when it surrenders control over the loans. Control over transferred loans is deemed to be surrendered when (1) the loans have been isolated from the Company, (2) the transferee has the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred loans, and (3) the Company does not maintain effective control over the transferred loans through either (a) an agreement that entitles and obligates the Company to repurchase or redeem them before their maturity or (b) the ability to unilaterally cause the holder to return the specific loans. Gains or losses on the sale of these loans are included in “Gain on disposition of loans” in the Consolidated Statements of Income. Interest income on loans held for sale is recognized over the life of the loans using their contractual interest rates. Income recognition is suspended, and the unpaid interest receivable is reversed against interest income when loans become 90 days delinquent, or when, in management’s opinion, a full recovery of interest and principal becomes doubtful. Income recognition is resumed when the loan becomes contractually current.
Mortgage Servicing Rights	Mortgage Servicing Rights Upon the acquisition of Century, the Company retains the servicing rights of the Ginnie Mae insured loans that are sold in the secondary market. Servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sale of loans. Under the fair value measurement method, the Company measures servicing rights at fair value at each reporting date and reports changes in fair value of servicing assets in earnings in the period in which the changes occur and are included as a component of non-interest income or expense on the Consolidated Statements of Income. The fair value of servicing rights is subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. Loans serviced for others are not included in the Consolidated Balance Sheet. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned.
Allowance for Loan and Lease Losses	Allowance for Loan and Lease Losses Prior to January 1, 2020, the allowance for loan and lease losses (ALLL) on loans held for investment was maintained at a level deemed adequate by management to provide for probable and inherent losses in the portfolio at the balance sheet date. The ALLL had a general reserve component for loans with no credit impairment and a specific reserve component for loans determined to be impaired. The allowance methodology for the general reserve component included both quantitative and qualitative loss factors which were applied to the population of unimpaired loans to estimate the general reserves. The quantitative loss factors included loan type, age of the loan, borrower FICO score, past loan loss experience, historical default rates, and delinquencies. The qualitative loss factors considered, among other things, the loan portfolio composition and risk, current economic conditions that may affect the borrower’s ability to pay, and the underlying collateral value. The provision for loan losses and recoveries of previously recognized charge-offs were added to the ALLL, while charge-offs on loans were recorded as a reduction to ALLL. Loans were considered impaired when, based on current information and events, it was probable that the Company would be unable to collect the scheduled payments of principal and interest according to the contractual terms of the loan agreements. Impaired loans included loans on nonaccrual status and performing troubled debt restructured loans. Income from impaired loans was recognized on an accrual basis unless the loan is on nonaccrual status. Income from loans on nonaccrual status was recognized to the extent cash is received and when the loan’s principal balance is deemed collectible. Loans that experience insignificant payment delays and payment shortfalls generally were not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment was measured on a loan-by-loan basis by comparing the fair value of the underlying collateral, net of estimated selling costs (net realizable value) against the recorded investment of the loan. The net realizable values of the underlying collateral are estimated by management using third-party broker price opinions or appraisals obtained when loans are deemed impaired. To the extent the recorded investment of the loan exceeded the estimated fair value, a specific reserve or charge-off was recorded depending upon either the certainty of the estimate of loss or the fair value of the loan’s collateral. Effective January 1, 2020, the Company adopted ASU 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments replacing the incurred loss accounting approach with the current expected credit loss approach for all financial assets measured at amortized cost, which as of the adoption date consisted entirely of our held for investment loan portfolio. Under the current expected credit loss ("CECL") methodology, the allowance for credit losses is measured using two components. A component that measures expected credit losses on a collective (pool) basis when similar risk characteristics exist and a component that measures expected credit losses on an individual loan basis. For the collective pool component, the Company identified the following portfolio segments based on risk characteristics of the loans in its loan portfolio (pool): • Residential 1– 4 Unit – Purchase (loans to purchase 1– 4 unit residential rental properties); • Residential 1– 4 Unit – Refinance (refinance loans on 1– 4 unit residential rental properties); • Commercial – Purchase (loans to purchase traditional commercial properties); • Commercial – Refinance (refinance loans on traditional commercial properties); • Short Term 1– 4 Unit – Purchase (short-term loans to purchase 1– 4 unit residential rental properties); and • Short Term 1– 4 Unit – Refinance (short-term refinance loans on 1– 4 unit residential rental properties). The Company determines the collectability of its loans in the collective pools by evaluating certain risk characteristics. The segmentation of its loan portfolio was determined based on analyses of its loan portfolio performance over the past seven years. Based on analyses of the loan portfolio’s historical performance, the Company concluded that loan purpose and product types are the most significant risk factors in determining its expectation of future loan losses. Loan purpose considers whether a borrower is acquiring the property or refinancing an existing property. The historical experience shows that refinance loans have higher loss rates than loans for property acquisitions. Product type includes residential 1-4 unit property and traditional commercial property. The historical experience shows that traditional commercial property loans have higher loss rates than residential 1-4 unit property. Short Term loans have a maturity of one to 2 years from origination. Non-Short Term loans have a maturity of up to 30 years from origination. The Company estimates the allowance for loan losses using relevant available information, from internal and external sources, relating to historical performance, current conditions, and reasonable and supportable macroeconomic forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are considered for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency levels, or term, as well as for changes in environmental conditions, such as unemployment rates, property values and changes in the competitive or regulatory environment. The Company uses an open pool loss rate methodology to model expected credit losses. To determine the loss rates for the open pool method, the Company starts with its historical database of losses, segmenting the loans by loan purpose, product type and repayment period. A third-party model applying the open pool method is used to estimate an annual average loss rates by dividing the respective pool's quarterly historical losses by the pool's respective prior quarter’s ending unamortized loan cost balance and deriving an annual average loss rate from the historical quarterly loss rates. The model then adjusts the annual average loss rates based upon macroeconomic forecasts over a reasonable and supportable period, followed by a straight-line reversion to the historical loss rates. The adjusted annual average loss rates are applied to the forecasted pool balance within each segment. The forecasted balances in the loan pool segments are calculated based on a principal amortization using contractual maturity, factoring in further principal reductions from estimated prepayments. Estimated prepayments, or Constant Prepayment Rates ("CPRs") are developed from multiple loan characteristic considerations, such as property types, FICO scores, loan purpose, and prepayment penalty terms, which is the most significant driver of prepayment activity. The prepayment penalty terms differ between the short-term and long-term loans, and the Company has developed a CPR curve for its short-term loans ( 2-year or less) and one for its long-term loans ( 30-year ). Data from 2012-2021 is used to develop prepayment rates for the Company’s long-term loans. Because of the prepayment penalty structure in the Company’s long-term loans, prepayments during the active penalty term are historically low and begin to ramp up after the prepayment penalty term. The active prepayment penalty term is considered for existing and new loans over the reasonable and supportable forecast period in determining estimated prepayments. The Company back-tests the CPR curves on a quarterly basis and adjusts the CPR curves as appropriate. The reasonable and supportable period is meant to represent the period in which the Company believes the forecasted macroeconomic variables can be reasonably estimated. Significant variables or assumptions incorporated in the macroeconomic forecasts include U.S. unemployment, treasury yields, U.S. real gross domestic product (GDP), and U.S. real estate housing prices. The Company considers multiple scenarios from different macroeconomic forecasts and uses different forecast and revision periods for estimating lifetime expected credit losses. For the December 31, 2020 CECL estimate, the Company considered a COVID-19 adverse stress scenario and a COVID-19 severe stress scenario, both with a five-quarter reasonable and supportable forecast period followed by a four-quarter straight-line reversion period. Management decided that using only the adverse stress scenario did not factor for recent additional COVID-related risks such as the post-holiday spike in infections and deaths, unknown impact of a recent mutant virus, success of the vaccine, and impact of recent Presidential executive orders. Management concluded that applying a 50% weight to the adverse and severe stress scenarios was appropriate given the status of the pandemic at year-end. The various scenarios, the weighting of scenarios, as well as the forecast period and reversion to historical loss is subject to change as conditions in the market change and the Company’s ability to forecast economic events evolves. For the December 31, 2021 CECL estimate, the Company considered a COVID-19 severe stress scenario with a five-quarter reasonable and supportable forecast period followed by a four-quarter straight-line reversion period. The various scenarios, as well as the forecast period and reversion to historical loss is subject to change as conditions in the market change and the Company’s ability to forecast economic events evolves. The Company has determined that once a loan becomes nonperforming (90 or more days past due), it no longer shares the same risk characteristics of the other loans within its segment of homogeneous loans (pool). The Company pulls these loans out of the segments and evaluates the loans individually using the practical expedient to determine the credit exposure. Nonperforming loans are considered collateral dependent by the Company. Using the practical expedient, the fair value of the underlying collateral, less estimated selling costs, is compared to the carrying value of the loan in the determination of a credit loss. The allowance for loan losses for individually assessed or evaluated loans is the difference between the fair value of the collateral underlying the loans at the reporting date, adjusted for estimated selling costs, and the amortized cost basis. The allowance for loan losses is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the allowance when the Company believes the uncollectibility of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. The allowance for loan losses is maintained at a level deemed adequate by management to provide for expected losses in the portfolio at the balance sheet date. While management uses available information to estimate its required allowance for loan losses, future additions to the allowance for credit losses may be necessary based on changes in estimates resulting from economic and other conditions. The Company has made the accounting policy election not to measure an allowance for credit losses for accrued interest receivables. When a loan is placed on nonaccrual status, the accrued and unpaid interest is reversed as a reduction of interest income and accrued interest receivable. Accrued interest receivable is excluded from the amortized cost of loans and it is presented as accrued interest receivable in the Consolidated Balance Sheets.
Troubled Debt Restructurings	Troubled Debt Restructurings Troubled debt restructurings (TDRs) are renegotiated loans where borrower concessions have been granted, such as reduction of the UPB or interest rate and for which the borrower is experiencing financial difficulty. Insignificant concessions, such as short-term forbearances, do not constitute a TDR. Accrued but unpaid interest and advances are added to the outstanding principal balance with a corresponding allowance established. Loans classified as TDRs are reported as impaired loans.
Accrued Interest and Other Receivables	Accrued Interest and Other Receivables Accrued interest and other receivables represent accrued and uncollected interest on loans in accrual status; principal and interest payments received, but unremitted by the servicer; and receivables from borrowers for escrow and other advances, net of an allowance for uncollectible borrower advances.
Real Estate Owned, Net (REO)	Real Estate Owned, Net (REO) Properties acquired through foreclosure, deed in lieu of foreclosure, or from third parties that meet all of the following criteria are classified as real estate owned: (i) management has the intent to sell the property; (ii) the property is available for immediate sale in its present condition, or management intends on making necessary repairs to render the property saleable, subject only to terms that are usual and customary; and (iii) it is unlikely that any significant changes to the plan will be made or that the plan will be withdrawn. Real estate owned is initially recorded at the property’s estimated fair value, based on appraisals or broker price opinions obtained, less estimated costs to sell, at the acquisition date, establishing a new cost basis. If the recorded loan balance at the time of transfer exceeds the estimated fair value of the property less estimated costs to sell, the charge is recorded to the allowance for loan losses. If the estimated fair value of the property less estimated costs to sell exceeds the recorded loan balance at the time of transfer, the write-up is first recorded as a recapture to the allowance for loan losses to the extent of any previous charge and then to gain on the REO. Any subsequent write-downs in the fair value of the REO after the transfer date are charged to real estate owned, net in the Consolidated Statements of Income and recognized through a valuation allowance. Subsequent increases in the fair value of the REO less selling costs reduce the valuation allowance, but not below zero, and are credited to real estate owned, net.
Property and Equipment, Net	Property and Equipment, Net Property and equipment is recorded at cost, less accumulated depreciation, computed principally by the straight-line method based on the estimated useful lives of the specific assets, which range from three to seven years . Software is amortized over the estimated useful lives of the specific assets, which range from three to ten years using the straight-line method. Leasehold improvements are amortized over the lives of the respective leases or the service lives of the improvements, whichever is shorter.
Goodwill	Goodwill Goodwill arises from business combinations and is generally determined as the excess of the fair value of the consideration transferred over the fair value of the net assets acquired and liabilities assumed as of the acquisition date less any noncontrolling interest. Goodwill acquired in a purchase business combination and determined to have an indefinite useful life is not amortized but tested for impairment at least annually in the fourth quarter, or more frequently if events and circumstances exist that indicate that a goodwill impairment test should be performed.
Off Balance Sheet Credit Exposure	Off Balance Sheet Credit Exposure The Company has no off-balance-sheet assets or liabilities and, therefore, no off-balance-sheet credit exposure.
Income Taxes	Income Taxes Income taxes are accounted for using the asset and liability method. Under this method a deferred tax asset or liability is measured based on the enacted tax rates expected to apply to taxable income in the years in which the differences between the financial statement carrying amounts and tax bases of existing assets and liabilities are expected to be recovered or settled. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established to reduce the net carrying amount of deferred tax assets ("DTA") if it is determined to be more likely than not, that all or some portion of the potential deferred tax asset will not be realized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the DTA will or will not be realized. The Company's ultimate realization of the DTA is dependent upon the generation of future taxable income during the periods in which temporary differences become deductible. Management considers the nature and amount of historical and projected future taxable income, the scheduled reversal of deferred tax assets and liabilities, and available tax planning strategies in making this assessment. The amount of deferred taxes recognized could be impacted by changes to any of these variables. The Company determines whether its tax positions are more likely than not to be sustained upon examination by the applicable taxing authorities, including resolution of any related appeals or litigation processes, based on the technical merits of the positions in question. Income tax positions that meet the more likely than not recognition threshold are measured to determine the amount of benefit to recognize. An income tax position is measured at the largest amount of benefit that management believes has a greater than 50% likelihood of realization upon settlement. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits in income tax expense.
Stock-Based Compensation	Stock-Based Compensation Compensation expense for stock-based awards is based on the fair value of the award at the date of grant. The fair value of stock options is estimated at the date of grant using a Black-Scholes option pricing model. The fair value of restricted stock, restricted stock units and performance stock units are determined based on the Company’s current market price on the date of grant. Compensation expense is recognized in the consolidated financial statements on a straight-line basis over the requisite service period, which is generally defined as the vesting period. The Company recognizes forfeitures as they occur and the income tax effects of awards are recognized in the consolidated statements of income when awards vest or are settled.
Earnings per Share	Earnings per Share Earnings per share are calculated utilizing the two-class method. Basic earnings per share are calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding. Diluted earnings per share are calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of shares adjusted for the dilutive effect of stock-based awards.

Cash, Cash Equivalents, and R_2

Cash, Cash Equivalents, and Restricted Cash (Tables)	12 Months Ended
	Dec. 31, 2021
Cash And Cash Equivalents [Abstract]
Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company’s consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows as of December 31, 2021, 2020, and 2019 (in thousands): December 31, 2021 2020 2019 Cash and cash equivalents $ 35,965 $ 13,273 $ 21,465 Restricted cash 11,639 7,020 6,087 Total cash, cash equivalents, and restricted $ 47,604 $ 20,293 $ 27,552

Loans Held for Sale, Net (Table

Loans Held for Sale, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Summary of Loans Held for Sale	The following table summarizes loans held for sale as of December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 Unpaid principal balance $ 87,422 $ 12,929 Valuation adjustments — ( 17 ) Deferred loan origination costs 486 194 Ending balance $ 87,908 $ 13,106

Loans Held for Investment and_2

Loans Held for Investment and Loans Held for Investment at Fair Value (Tables)	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Summary of Loans Held for Investment	The following tables summarize loans held for investment as of December 31, 2021 and 2020 (in thousands): December 31, 2021 Loans held for Loans held for Total loans investment, investment, at held for net fair value investment Unpaid principal balance $ 2,498,466 $ 1,332 $ 2,499,798 Valuation adjustments on FVO loans — 27 27 Deferred loan origination costs 33,360 — 33,360 2,531,826 1,359 2,533,185 Allowance for loan losses ( 4,262 ) — ( 4,262 ) Total loans held for investment, net $ 2,527,564 $ 1,359 $ 2,528,923 December 31, 2020 Loans held for Loans held for Total loans investment, investment, at held for net fair value investment Unpaid principal balance $ 1,930,334 $ 1,541 $ 1,931,875 Valuation adjustments on FVO loans — ( 2 ) ( 2 ) Deferred loan origination costs 23,600 — 23,600 1,953,934 1,539 1,955,473 Allowance for loan losses ( 5,845 ) — ( 5,845 ) Total loans held for investment, net $ 1,948,089 $ 1,539 $ 1,949,628
Summary of UPB and Amortized Cost Basis of Loans in COVID-19 Forbearance Program	The following table summarizes the UPB and amortized cost basis of the loans in the Company's COVID-19 forbearance program as of December 31, 2021 ($ in thousands): December 31, 2021 UPB % Amortized Cost % Beginning balance $ 392,073 $ 396,918 Additions 2,616 2,615 Foreclosures ( 402 ) ( 408 ) Repayments ( 101,858 ) ( 103,135 ) Ending balance $ 292,429 $ 295,990 Performing/Accruing $ 233,307 79.8 % $ 236,076 79.8 % Nonperforming/Nonaccrual $ 59,122 20.2 % $ 59,914 20.2 % December 31, 2020 UPB % Amortized Cost % Beginning balance $ — $ — Additions 438,152 443,479 Foreclosures — — Repayments ( 46,079 ) ( 46,561 ) Ending balance 392,073 396,918 Performing/Accruing $ 327,708 83.6 % $ 330,495 83.3 % Nonperforming/Nonaccrual $ 64,365 16.4 % $ 66,423 16.7 %
Schedule of Loans Held for Investment Pledged as Collateral for Warehouse Facility Agreements and Securitizations Issued	As of December 31, 2021 and 2020, the gross unpaid principal balance of loans held for investment pledged as collateral for the Company’s warehouse facility agreements, and securitizations issued were as follows (in thousands): December 31, 2021 2020 The 2013 repurchase agreement $ 202,511 $ 91,074 The 2015 repurchase agreement 114,072 — The Bank credit agreement 30,959 — The 2021 repurchase agreement 53,217 — Total pledged loans $ 400,759 $ 91,074 2014-1 Trust — 22,228 2015-1 Trust 31,931 48,179 2016-1 Trust 52,623 71,271 2016-2 Trust — 47,282 2017-1 Trust — 81,376 2017-2 Trust 94,809 137,970 2018-1 Trust 71,051 112,042 2018-2 Trust 154,974 224,195 2019-1 Trust 144,727 203,144 2019-2 Trust 132,358 175,560 2019-3 Trust 103,266 135,527 2020-1 Trust 189,547 241,664 2020-2 Trust 98,403 123,646 2020-MC1 Trust 134,957 228,470 2021-1 Trust 249,396 — 2021-2 Trust 198,039 — 2021-3 Trust 202,138 — 2021-4 Trust 314,547 — Total $ 2,172,766 $ 1,852,554
Schedule of Nonaccrual With No Allowance for Loan Loss and Total Nonaccrual of Loans Held for Investment	The following tables present the amortized cost basis, or recorded investment, of the Company’s loans held for investment that were nonperforming and on nonaccrual status as of December 31, 2021 and 2020. The tables also present the amortized cost basis of accruing loans that were 90 days or more past due as of December 31, 2021 and 2020. These loans were granted a forbearance under the Company’s COVID-19 payment forbearance programs ($ in thousands). December 31, 2021 Total Nonaccrual with No Allowance for Loan Loss Nonaccrual with Allowance for Loan Loss Allowance for Loans Individually Evaluated % of Allowance to Total Nonaccrual/ Impaired Loans Loans 90+ DPD Still Accruing COVID-19 Program Commercial - Purchase $ 17,260 $ 16,501 $ 759 $ 9 0.1 % $ — Commercial - Refinance 85,935 79,131 6,804 826 6.2 — Residential 1-4 Unit - Purchase 17,385 17,128 257 96 0.7 — Residential 1-4 Unit - Refinance 107,552 105,515 2,037 138 1.0 — Short Term 1-4 Unit - Purchase 2,986 2,881 105 31 0.2 — Short Term 1-4 Unit - Refinance 45,300 41,870 3,430 306 2.3 — Total $ 276,418 $ 263,026 $ 13,392 $ 1,406 10.5 % $ — Troubled debt restructuring included $ 165 $ — $ — $ 25 — $ — December 31, 2020 Total Nonaccrual with No Allowance for Loan Loss Nonaccrual with Allowance for Loan Loss Allowance for Loans Individually Evaluated % of Allowance to Total Nonaccrual/ Impaired Loans Loans 90+ DPD Still Accruing COVID-19 Program Commercial - Purchase $ 22,166 $ 20,955 $ 1,211 $ 153 0.7 % $ — Commercial - Refinance 101,117 96,804 4,313 519 2.3 1,747 Residential 1-4 Unit - Purchase 26,373 25,839 534 128 0.6 — Residential 1-4 Unit - Refinance 120,152 113,206 6,946 465 2.1 109 Short Term 1-4 Unit - Purchase 6,585 3,808 2,777 525 2.4 — Short Term 1-4 Unit - Refinance 59,843 53,616 6,227 878 4.0 123 Total $ 336,236 $ 314,228 $ 22,008 $ 2,668 12.1 % $ 1,979 Troubled debt restructuring included $ 173 $ — $ — $ — — $ —
Schedule of Accrued Interest Receivables Written Off by Reversing Interest Income by Portfolio Segment	The following table presents the amortized cost basis in the loans held for investment as of December 31, 2021 and 2020, and the amount of accrued interest receivables written off by reversing interest income by portfolio segment for the years ended December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 Amortized Cost Interest Reversal Amortized Cost Interest Reversal Commercial - Purchase $ 509,421 $ ( 346 ) $ 300,903 $ ( 827 ) Commercial - Refinance 783,260 ( 1,176 ) 685,097 ( 3,798 ) Residential 1-4 Unit - Purchase 408,770 ( 209 ) 224,593 ( 887 ) Residential 1-4 Unit - Refinance 730,321 ( 1,474 ) 566,925 ( 4,186 ) Short Term 1-4 Unit - Purchase 28,989 ( 821 ) 43,325 ( 160 ) Short Term 1-4 Unit - Refinance 71,065 ( 653 ) 133,091 ( 1,039 ) Total $ 2,531,826 $ ( 4,679 ) $ 1,953,934 $ ( 10,897 )
Schedule of Activity in Allowance for Loan Losses	The allowance for loan losses as of December 31, 2021 decreased to $ 4.3 million from $ 5.8 million as of January 1, 2021, primarily due to the lessening impact of COVID 19 on economic conditions and forecasts. The following tables present the activity in the allowance for loan losses for the years ended December 31, 2021 and 2020 (in thousands): December 31, 2021 Residential Residential Short Term Short Term Commercial Commercial 1-4 Unit 1-4 Unit 1-4 Unit 1-4 Unit Purchase Refinance Purchase Refinance Purchase Refinance Total Allowance for credit losses: Balance - January 1, 2021 $ 373 $ 2,093 $ 333 $ 1,216 $ 595 $ 1,235 $ 5,845 Provision for loan losses 154 164 104 ( 60 ) ( 538 ) ( 116 ) ( 292 ) Charge-offs ( 142 ) ( 113 ) ( 37 ) ( 208 ) ( 14 ) ( 777 ) ( 1,291 ) Ending balance $ 385 $ 2,144 $ 400 $ 948 $ 43 $ 342 $ 4,262 Allowance related to: Loans individually evaluated $ 9 $ 826 $ 96 $ 138 $ 31 $ 306 $ 1,406 Loans collectively evaluated $ 376 $ 1,318 $ 305 $ 811 $ 10 $ 36 $ 2,856 Amortized cost related to: Loans individually evaluated $ 17,260 $ 85,935 $ 17,385 $ 107,552 $ 2,986 $ 45,300 $ 276,418 Loans collectively evaluated $ 492,161 $ 697,326 $ 391,385 $ 622,768 $ 26,003 $ 25,765 $ 2,255,408 December 31, 2020 Residential Residential Short Term Short Term Commercial Commercial 1-4 Unit 1-4 Unit 1-4 Unit 1-4 Unit Purchase Refinance Purchase Refinance Purchase Refinance Total Allowance for credit losses: Beginning balance, prior to adoption of ASC 326 $ 304 $ 1,016 $ 148 $ 772 $ — $ — $ 2,240 Impact of adopting ASC 326 19 62 9 47 — — 137 Balance - January 1, 2020 $ 323 $ 1,078 $ 157 $ 819 $ — $ — $ 2,377 Provision for loan losses (1) 129 1,233 349 440 645 2,272 5,068 Charge-offs ( 79 ) ( 218 ) ( 173 ) ( 43 ) ( 50 ) ( 1,037 ) ( 1,600 ) Ending balance $ 373 $ 2,093 $ 333 $ 1,216 $ 595 $ 1,235 $ 5,845 Allowance related to: Loans individually evaluated $ 153 $ 519 $ 128 $ 465 $ 525 $ 878 $ 2,668 Loans collectively evaluated $ 220 $ 1,574 $ 205 $ 751 $ 69 $ 357 $ 3,176 Amortized cost related to: Loans individually evaluated $ 22,166 $ 101,117 $ 26,373 $ 120,152 $ 6,585 $ 59,843 $ 336,236 Loans collectively evaluated $ 278,738 $ 583,981 $ 198,220 $ 446,773 $ 36,738 $ 73,248 $ 1,617,698 (1) The provision for loans losses would have been approximately $ 3.9 million for the year ended December 31, 2020, excluding the $ 1.2 million impact from the loans held for sale transferred to loans held for investment. The additional $ 1.2 million provision was mainly offset by the reversal of the $ 1.3 million valuation allowance on the held for sale loans, which was recorded to “Other Income” in the consolidated statements of income.
Schedule of Aging Status of Amortized Cost Basis in Loans Held for Investment Portfolio	The following tables present the aging status of the amortized cost basis in the loans held for investment portfolio, which include $ 296.0 million and $ 396.9 million loans in the Company’s COVID-19 forbearance program as of December 31, 2021 and 2020, respectively (in thousands): 30–59 days 60–89 days 90+days Total Total December 31, 2021 past due past due past due (1) past due Current loans Loans individually evaluated Commercial - Purchase $ 700 $ 2,314 $ 14,246 $ 17,260 $ — $ 17,260 Commercial - Refinance 4,464 6,818 74,488 85,770 165 85,935 Residential 1-4 Unit - Purchase — 682 16,703 17,385 — 17,385 Residential 1-4 Unit - Refinance 807 1,088 105,657 107,552 — 107,552 Short Term 1-4 Unit - Purchase 1,224 — 1,762 2,986 — 2,986 Short Term 1-4 Unit - Refinance 615 1,010 43,675 45,300 — 45,300 Total loans individually evaluated $ 7,810 $ 11,912 $ 256,531 $ 276,253 $ 165 $ 276,418 Loans collectively evaluated Commercial - Purchase $ 17,319 $ 4,034 $ — $ 21,353 $ 470,808 $ 492,161 Commercial - Refinance 31,769 7,025 — 38,794 658,532 697,326 Residential 1-4 Unit - Purchase 14,905 5,580 — 20,485 370,900 391,385 Residential 1-4 Unit - Refinance 39,045 9,548 — 48,593 574,175 622,768 Short Term 1-4 Unit - Purchase 21,412 217 — 21,629 4,374 26,003 Short Term 1-4 Unit - Refinance 4,060 5,561 — 9,621 16,144 25,765 Total loans collectively evaluated $ 128,510 $ 31,965 $ — $ 160,475 $ 2,094,933 $ 2,255,408 Ending balance $ 136,320 $ 43,877 $ 256,531 $ 436,728 $ 2,095,098 $ 2,531,826 (1) Includes loans in bankruptcy and foreclosure less than 90 days past due . 30–59 days 60–89 days 90+days Total Total December 31, 2020 past due past due past due (1) past due Current loans Loans individually evaluated Commercial - Purchase $ 961 $ 1,307 $ 19,898 $ 22,166 $ — $ 22,166 Commercial - Refinance 2,118 7,532 91,467 101,117 — 101,117 Residential 1-4 Unit - Purchase 192 2,915 23,266 26,373 — 26,373 Residential 1-4 Unit - Refinance 1,440 3,010 115,702 120,152 — 120,152 Short Term 1-4 Unit - Purchase — — 6,585 6,585 — 6,585 Short Term 1-4 Unit - Refinance 964 760 58,119 59,843 — 59,843 Total loans individually evaluated $ 5,675 $ 15,524 $ 315,037 $ 336,236 $ — $ 336,236 Loans collectively evaluated Commercial - Purchase $ 8,000 $ 7,081 $ — $ 15,081 $ 263,657 $ 278,738 Commercial - Refinance 33,725 13,224 1,747 48,696 535,285 583,981 Residential 1-4 Unit - Purchase 5,030 1,261 — 6,291 191,928 198,219 Residential 1-4 Unit - Refinance 33,144 14,567 109 47,820 398,953 446,773 Short Term 1-4 Unit - Purchase 1,972 21,780 — 23,752 12,987 36,739 Short Term 1-4 Unit - Refinance 8,406 5,383 123 13,912 59,336 73,248 Total loans collectively evaluated $ 90,277 $ 63,296 $ 1,979 $ 155,552 $ 1,462,146 $ 1,617,698 Ending balance $ 95,952 $ 78,820 $ 317,016 $ 491,788 $ 1,462,146 $ 1,953,934 (1) Includes loans in bankruptcy and foreclosure less than 90 days past due . The following table presents the aging of the amortized cost basis of loans held for investment in the Company's COVID-19 forbearance program as of December 31, 2021 (in thousands): 30–59 days 60–89 days 90+days Total Total December 31, 2021 past due past due past due (1) past due Current loans Loans individually evaluated Commercial - Purchase $ 163 $ 1,622 $ 4,259 $ 6,044 $ — $ 6,044 Commercial - Refinance — 2,820 18,520 21,340 — 21,340 Residential 1-4 Unit - Purchase — — 3,045 3,045 — 3,045 Residential 1-4 Unit - Refinance — — 22,670 22,670 — 22,670 Short Term 1-4 Unit - Purchase 99 — 180 279 — 279 Short Term 1-4 Unit - Refinance 404 299 5,833 6,536 — 6,536 Total loans individually evaluated $ 666 $ 4,741 $ 54,507 $ 59,914 $ — $ 59,914 Loans collectively evaluated Commercial - Purchase $ 2,209 $ 1,158 $ — $ 3,367 $ 30,904 $ 34,271 Commercial - Refinance 8,309 2,444 — 10,753 90,040 100,793 Residential 1-4 Unit - Purchase 315 231 — 546 18,321 18,867 Residential 1-4 Unit - Refinance 4,086 319 — 4,405 48,314 52,719 Short Term 1-4 Unit - Purchase 20,869 — — 20,869 761 21,630 Short Term 1-4 Unit - Refinance 942 4,149 — 5,091 2,705 7,796 Total loans collectively evaluated $ 36,730 $ 8,301 $ — $ 45,031 $ 191,045 $ 236,076 Ending balance $ 37,396 $ 13,042 $ 54,507 $ 104,945 $ 191,045 $ 295,990 (2) (1) Includes loans in bankruptcy and foreclosure less than 90 days past due. Also includes accruing loans 90+ day past due. (2) Net of $ 103.1 million (amortized cost basis) payoffs from the Company’s COVID-19 forbearance loans.
Schedule of Amortized Cost in Loans Held for Investment based on Accrual Status and by Loan Origination Year	The following tables present the amortized cost in loans held for investment, excluding loans held for investment at fair value, based on accrual status and by loan origination year as of December 31, 2021 and 2020 (in thousands). Term Loans Amortized Cost Basis by Origination Year December 31, 2021: 2021 2020 2019 2018 2017 Pre-2017 Total Commercial - Purchase Payment performance Performing $ 277,618 $ 45,836 $ 81,541 $ 46,637 $ 24,164 $ 16,365 $ 492,161 Nonperforming 288 1,781 5,541 4,180 3,539 1,931 17,260 Total Commercial - Purchase $ 277,906 $ 47,617 $ 87,082 $ 50,817 $ 27,703 $ 18,296 $ 509,421 Commercial - Refinance Payment performance Performing $ 239,688 $ 64,966 $ 144,017 $ 118,735 $ 62,374 $ 67,545 $ 697,325 Nonperforming 2,482 3,949 26,012 26,869 16,492 10,131 85,935 Total Commercial - Refinance $ 242,170 $ 68,915 $ 170,029 $ 145,604 $ 78,866 $ 77,676 $ 783,260 Residential 1-4 Unit - Purchase Payment performance Performing $ 263,180 $ 12,878 $ 48,930 $ 29,544 $ 12,863 $ 23,990 $ 391,385 Nonperforming 1,372 2,749 3,896 3,736 3,487 2,145 17,385 Total Residential 1-4 $ 264,552 $ 15,627 $ 52,826 $ 33,280 $ 16,350 $ 26,135 $ 408,770 Residential 1-4 Unit - Refinance Payment performance Performing $ 343,199 $ 31,334 $ 114,145 $ 59,825 $ 31,774 $ 42,491 $ 622,768 Nonperforming 11,646 6,040 31,816 30,626 16,677 10,747 107,552 Total Residential 1-4 $ 354,845 $ 37,374 $ 145,961 $ 90,451 $ 48,451 $ 53,238 $ 730,320 Short Term 1-4 Unit - Purchase Payment performance Performing $ 1,890 $ 15,582 $ 8,531 $ — $ — $ — $ 26,003 Nonperforming — 1,565 1,316 105 — — 2,986 Total Short Term 1-4 $ 1,890 $ 17,147 $ 9,847 $ 105 $ — $ — $ 28,989 Short Term 1-4 Unit - Refinance Payment performance Performing $ 1,448 $ 11,991 $ 12,326 $ — $ — $ — $ 25,765 Nonperforming 1,038 15,819 22,618 5,825 — — 45,300 Total Short Term 1-4 $ 2,486 $ 27,810 $ 34,944 $ 5,825 $ — $ — $ 71,065 Total Portfolio $ 1,143,849 $ 214,490 $ 500,689 $ 326,082 $ 171,370 $ 175,345 $ 2,531,825 Term Loans Amortized Cost Basis by Origination Year December 31, 2020: 2020 2019 2018 2017 2016 Pre-2016 Total Commercial - Purchase Payment performance Performing $ 56,446 $ 99,534 $ 64,706 $ 34,862 $ 9,500 $ 13,690 $ 278,738 Nonperforming 1,046 4,666 5,799 7,182 1,539 1,934 22,166 Total Commercial - Purchase $ 57,492 $ 104,200 $ 70,505 $ 42,044 $ 11,039 $ 15,624 $ 300,904 Commercial - Refinance Payment performance Performing $ 75,376 $ 176,854 $ 157,499 $ 87,476 $ 34,858 $ 51,918 $ 583,981 Nonperforming 4,929 26,776 32,955 18,980 10,392 7,085 101,117 Total Commercial - Refinance $ 80,305 $ 203,630 $ 190,454 $ 106,456 $ 45,250 $ 59,003 $ 685,098 Residential 1-4 Unit - Purchase Payment performance Performing $ 26,215 $ 69,775 $ 42,537 $ 25,874 $ 7,056 $ 26,762 $ 198,219 Nonperforming 1,611 5,973 8,949 5,059 1,348 3,433 26,373 Total Residential 1-4 $ 27,826 $ 75,748 $ 51,486 $ 30,933 $ 8,404 $ 30,195 $ 224,592 Residential 1-4 Unit - Refinance Payment performance Performing $ 57,945 $ 168,912 $ 96,568 $ 61,033 $ 22,949 $ 39,366 $ 446,773 Nonperforming 3,934 42,159 37,451 17,942 7,653 11,013 120,152 Total Residential 1-4 $ 61,879 $ 211,071 $ 134,019 $ 78,975 $ 30,602 $ 50,379 $ 566,925 Short Term 1-4 Unit - Purchase Payment performance Performing $ 20,563 $ 15,990 $ 186 $ — $ — $ — $ 36,739 Nonperforming 3,764 2,217 604 — — — 6,585 Total Short Term 1-4 $ 24,327 $ 18,207 $ 790 $ — $ — $ — $ 43,324 Short Term 1-4 Unit - Refinance Payment performance Performing $ 35,234 $ 37,818 $ 196 $ — $ — $ — $ 73,248 Nonperforming 17,318 33,711 8,719 95 — — 59,843 Total Short Term 1-4 $ 52,552 $ 71,529 $ 8,915 $ 95 $ — $ — $ 133,091 Total Portfolio $ 304,381 $ 684,385 $ 456,169 $ 258,503 $ 95,295 $ 155,201 $ 1,953,934

Mortgage Loans on Real Estate (

Mortgage Loans on Real Estate (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Loans (UPB) Collateralized by Real Estate	The following tables present the Company’s loans (UPB) collateralized by real estate as of December 31, 2021 and 2020 (in thousands). December 31, 2021 Description Interest Final Unpaid Nonaccrual 1-4 unit residential (3) Under $1.0 million 4.0 % - 13.5 % January 1, 2052 $ 987,069 $ 127,214 $1.0 million and over 4.0 % - 11.5 % January 1, 2052 325,025 44,426 1,312,094 171,640 Traditional commercial (4) Under $1.0 million 3.1 % - 13.0 % January 1, 2052 969,599 73,039 $1.0 million and over 4.0 % - 10.2 % January 1, 2052 305,528 28,421 1,275,127 101,460 Total at December 31, 2021 $ 2,587,221 $ 273,100 December 31, 2020 Description Interest Final Unpaid Nonaccrual 1-4 unit residential (3) Under $1.0 million 5.2 % - 13.5 % January 1, 2051 $ 803,663 $ 161,225 $1.0 million and over 6.0 % - 11.5 % January 1, 2051 159,415 50,046 963,078 211,271 Traditional commercial (4) Under $1.0 million 3.5 % - 13.0 % January 1, 2051 792,577 88,644 $1.0 million and over 6.0 % - 10.5 % January 1, 2051 189,149 32,898 981,726 121,542 Total at December 31, 2020 $ 1,944,804 $ 332,813 Note (1): The aggregate cost of the Company’s loan portfolio for Federal income tax purposes was $ 2,621,093 and $ 1,968,579 as of December 31, 2021 and 2020, respectively. Note (2): As of December 31, 2021 and 2020, $ 155.1 million and $ 178.0 million, respectively, of the total UPB were interest-only loans with interest payable monthly and the principal payable at maturity. Note (3): The principal and interest on the 1-4 unit residential mortgage loans is payable monthly at a level amount over the life of the loan to maturity. These loans generally contain a 3 % prepayment penalty provision if the loan is prepaid within the first 3 years. Note (4): The principal and interest on the traditional commercial mortgage loans is payable monthly at a level amount over the life of the loan to maturity. These loans generally contain a 5 % prepayment penalty provision if the loan is prepaid within the first 3 years. The following table presents the reconciliation of the UPB of mortgage loans for the years ended December 31, 2021, 2020, and 2019: December 31, 2021 2020 2019 Balance at beginning of period $ 1,944,804 $ 2,059,344 $ 1,631,326 Addition during period: New mortgage loans 1,326,275 435,037 1,012,068 Acquisition 22,437 4,643 21,759 Capitalized Interest 2,045 7,814 — Deduction during period: Collection of principal ( 568,081 ) ( 374,576 ) ( 404,757 ) Collection of capitalized interest ( 2,163 ) — — Foreclosures ( 11,603 ) ( 10,781 ) ( 10,442 ) Mortgages sold ( 126,494 ) ( 176,677 ) ( 190,610 ) Balance at end of period $ 2,587,220 $ 1,944,804 $ 2,059,344

Receivables Due From Servicers

Receivables Due From Servicers (Tables)	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Summary of Receivables Due from Servicers	The following table summarizes receivables due from servicers as of December 31, 2021 (in thousands): December 31, 2021 Securitizations Warehouse and repurchase facilities and other Total Loan principal payments due from servicers $ 42,344 $ 1,165 $ 43,509 Other loan servicing receivables 10,718 730 11,448 Loan servicing receivables 53,062 1,895 54,957 Corporate and escrow advances receivable 17,884 1,489 19,373 Total receivables due from servicers $ 70,946 $ 3,384 $ 74,330

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment, Net	As of December 31, 2021 and 2020, property and equipment consisted of the following (in thousands): December 31, 2021 2020 Furniture $ 885 $ 885 Computer equipment 1,222 1,161 Office equipment 278 275 Leasehold improvements 578 578 Capitalized software 7,634 7,597 Building 685 — 11,282 10,496 Accumulated depreciation and amortization ( 7,452 ) ( 6,351 ) Ending balance $ 3,830 $ 4,145

Real Estate Owned, Net (Tables)

Real Estate Owned, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Real Estate Owned Disclosure Of Detailed Components [Abstract]
Summary of Activity in Real Estate Owned	The Company’s real estate owned activities were as follows during the years ended December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 Beginning balance $ 15,767 $ 13,068 Additions 12,583 10,412 Capitalized improvements 194 846 Sales ( 9,228 ) ( 6,825 ) Valuation adjustments ( 1,759 ) ( 1,734 ) Ending balance $ 17,557 $ 15,767
Sale of Real Estate Owned	The following table summarizes information about real estate operating income and expenses, realized gains and losses on sales of real estate, and unrealized gains and losses resulting from adjustments to valuation allowances for the years ended December 31, 2021, 2020 and 2019 (in thousands): December 31, 2021 2020 2019 Operating income $ 451 $ 444 $ 242 Operating expenses ( 2,251 ) ( 2,010 ) ( 1,465 ) Valuation adjustments ( 1,759 ) ( 1,734 ) ( 1,631 ) Net gain on sales of real estate 409 644 207 Total $ ( 3,150 ) $ ( 2,656 ) $ ( 2,647 )
Gross Gains and Losses And Number of Properties Sold	The following table provides additional information about the number of properties sold and the gross gains and losses recognized in real estate owned, net, in the consolidated statements of income, during the years ended December 31, 2021, 2020 and 2019 (in thousands, except properties sold): December 31, 2021 2021 2020 2019 Properties Gain Properties Gain Properties Gain sold (loss) sold (loss) sold (loss) Sales resulting in gains 23 $ 972 14 $ 837 10 $ 320 Sales resulting in losses 14 ( 563 ) 9 ( 193 ) 5 ( 113 ) Total 37 $ 409 23 $ 644 15 $ 207

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	12 Months Ended
	Dec. 31, 2021
Transfers And Servicing [Abstract]
Summary of Mortgage Servicing Rights	The following table presents the Company's mortgage servicing rights (in thousands): December 31, 2021 2021 2020 Balance at the beginning of year $ — $ — Mortgage servicing rights acquired 7,152 — Additions — — Fair value adjustments — — Balance at end of year $ 7,152 $ —

Business Combination (Tables)

Business Combination (Tables)	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Summary of Fair Value of Assets Received and Liabilities Assumed	A summary of the fair value of assets received and liabilities assumed are as follows (in thousands): As Recorded by Century Fair Value Adjustments As Recorded by Velocity Assets Cash $ 2,045 $ 2,045 Investment securities 1,181 1,181 Mortgage servicing rights — $ 7,152 (a) 7,152 Premises and equipment, net 315 373 (b) 688 Other receivables 154 154 Total assets acquired $ 3,695 $ 7,525 $ 11,220 Liabilities Accrued payables $ 314 $ 1,500 (c) $ 1,814 Total liabilities assumed 314 1,500 1,814 Noncontrolling interest 3,381 — 3,381 Net assets acquired $ 6,025 Total cash consideration 12,800 Goodwill $ 6,775 (a) Represents the fair value of mortgage servicing rights. (b) Represents the fair value adjustments to reflect the fair value of premises and equipment. (c) Represents an additional liability which was paid subsequent to acquisition.

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table presents the activity for goodwill (in thousands): December 31, 2021 2020 Balance at the beginning of year $ — $ — Goodwill acquired 6,775 — Balance at end of year $ 6,775 $ —

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Other Assets [Abstract]
Schedule of Other Assets	Other assets were comprised of the following as of December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 Prepaid expenses $ 1,628 $ 1,261 Interest-only strips and deposits 166 642 Deferred costs 502 — Operating leases - right of use assets, net 3,744 4,780 Appraisal fees for loans in process 479 96 Other assets 305 — Total other assets $ 6,824 $ 6,779

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of Supplemental Cash Flow Information Related to Leases	The following table presents supplemental cash flow information related to leases for the years ended December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,626 $ 1,524 ROU assets obtained in exchange for lease obligations: Operating leases $ 256 $ —
Schedule of Maturities of Operating Lease Liabilities	The following table presents maturities of operating lease liabilities as of December 31, 2021 (in thousands): December 31, 2021 Operating Leases 2022 $ 1,615 2023 1,460 2024 1,153 2025 113 2026 48 Thereafter — Total lease payments 4,389 Less: Imputed interest ( 341 ) Present value of lease liabilities $ 4,048

Securitizations, Net (Tables)

Securitizations, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Transfers And Servicing [Abstract]
Summary of Investor Real Estate Loans Securitized, and Securities Issued, Ownership Retained by the Company	The following table summarizes securities issued, ownership retained by the Company at the time of the securitization, and as of December 31, 2021 and 2020, and the stated maturity for each securitization (in thousands): Securities Retained as of Trusts Securities Issuance December 31, December 31, Stated Maturity 2014-1 Trust $ 161,076 $ 30,682 $ — $ — September 2044 2015-1 Trust 285,457 27,372 15,526 15,522 July 2045 2016-1 Trust 319,809 38,792 17,633 17,931 April 2046 2016-2 Trust 166,853 23,402 — 9,514 October 2046 2017-1 Trust 211,910 11,154 — 11,154 April 2047 2017-2 Trust 245,601 12,927 4,064 6,232 October 2047 2018-1 Trust 176,816 9,308 2,849 6,015 April 2048 2018-2 Trust 307,988 16,210 6,608 9,762 October 2048 2019-1 Trust 235,580 12,399 6,180 11,540 March 2049 2019-2 Trust 207,020 10,901 5,922 9,728 July 2049 2019-3 Trust 154,419 8,127 4,799 6,441 October 2049 2020-1 Trust 248,700 13,159 8,678 13,085 February 2050 2020-2 Trust 96,352 32,118 12,847 12,847 June 2050 2020-MC1 Trust 179,371 96,585 108,891 98,260 July 2050 2021-1 Trust 251,301 13,227 12,518 — May 2051 2021-2 Trust 194,918 10,260 — — August 2051 2021-3 Trust 204,205 — — — October 2051 2021-4 Trust 319,116 — — — December 2051 Total $ 3,966,492 $ 366,623 $ 206,515 $ 228,031
Summary of Outstanding Bond Balances	The following table summarizes outstanding bond balances for each securitization as of December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 2014-1 Trust $ — $ 23,391 2015-1 Trust 17,536 36,966 2016-1 Trust 36,401 57,963 2016-2 Trust — 45,195 2017-1 Trust — 72,910 2017-2 Trust 86,497 129,478 2018-1 Trust 62,375 102,063 2018-2 Trust 143,152 200,451 2019-1 Trust 132,306 181,579 2019-2 Trust 122,205 158,199 2019-3 Trust 95,521 127,045 2020-1 Trust 174,550 220,052 2020-2 Trust 80,676 109,832 2020-MC1 Trust 35,711 137,794 2021-1 Trust 236,190 — 2021-2 Trust 197,744 — 2021-3 Trust 202,793 — 2021-4 Trust 315,489 — Total outstanding bond balance $ 1,939,146 $ 1,602,918
Summary of Unamortized Discounts or Premiums	As of December 31, 2021 and 2020, unamortized discounts or premiums associated with the Trusts are as follows (in thousands): December 31, 2021 2020 2014-1 Trust $ — $ 85 2015-1 Trust 35 64 2016-1 Trust 84 259 2016-2 Trust — ( 5 ) 2017-1 Trust — 1,345 2017-2 Trust 12 18 2018-1 Trust 10 19 2018-2 Trust 16 23 2019-1 Trust 19 26 2019-2 Trust 10 14 2019-3 Trust 7 10 2020-1 Trust 5 7 2020-2 Trust 1,692 2,934 2020-MC1 Trust 385 2,219 2021-Trust 21 — 2021-2 Trust 214 — 2021-3 Trust 925 — 2021-4 Trust 838 —
Summary of Capitalized Issuance Costs Associated with Trusts	As of December 31, 2021 and 2020, capitalized issuance costs associated with the Trusts are as follows (in thousands): December 31, 2021 2020 2014-1 Trust $ — $ 14 2015-1 Trust 32 272 2016-1 Trust 52 151 2016-2 Trust — 113 2017-1 Trust — 369 2017-2 Trust 808 1,343 2018-1 Trust 561 1,008 2018-2 Trust 1,371 1,937 2019-1 Trust 1,385 1,918 2019-2 Trust 1,325 1,890 2019-3 Trust 1,042 1,552 2020-1 Trust 2,032 2,636 2020-2 Trust 847 1,489 2020-MC1 Trust 380 2,190 2021-1 Trust 2,897 — 2021-2 Trust 2,757 — 2021-3 Trust 3,055 — 2021-4 Trust 4,449 —
Summary of Weighted Average Rate on the Securities and Certificates	As of December 31, 2021 and 2020, the weighted average rate on the securities and certificates for the Trusts are as follows: December 31, 2021 2020 2014-1 Trust 8.86 % 7.46 % 2015-1 Trust 7.22 7.20 2016-1 Trust 8.22 7.78 2016-2 Trust 7.92 6.63 2017-1 Trust 7.16 5.31 2017-2 Trust 3.37 3.42 2018-1 Trust 4.04 4.04 2018-2 Trust 4.39 4.48 2019-1 Trust 4.02 4.01 2019-2 Trust 3.44 3.48 2019-3 Trust 3.26 3.26 2020-1 Trust 2.82 2.83 2020-2 Trust 4.45 4.55 2020-MC1 Trust 4.42 4.50 2021-1 Trust 1.73 — 2021-2 Trust 2.28 — 2021-3 Trust 2.45 — 2021-4 Trust 3.11 —

Other Debt (Tables)

Other Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Summary of Maximum Borrowing Capacity and Current Gross Balances Outstanding	The following table summarizes the maximum borrowing capacity and current gross balances outstanding for the Company’s warehouse facilities and loan agreements as of December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 Period end (1) Maximum Period end (1) Maximum The 2021 term repurchase agreement $ 41,636 $ 100,000 $ — $ — The 2021 repurchase agreement 82,580 200,000 — — The July 2021 term repurchase agreement — 100,000 — — The 2013 repurchase agreement 153,499 200,000 73,502 100,000 The Bank credit agreement 22,385 50,000 — — The 2019 loan agreement 2,700 3,000 2,700 3,000 Total $ 302,800 $ 653,000 $ 76,202 $ 103,000 (1) Warehouse repurchase facilities amounts in the consolidated balance sheet are net of debt issuance costs amounting to $ 1.7 million and $ 0.3 million as of December 31, 2021 and 2020.
Schedule of Activity and Effective Interest Rate	The following table provides an overview of the activity and effective interest rate for the years ended December 31, 2021 and 2020 ($ in thousands): December 31, 2021 2020 Warehouse and repurchase facilities: Average outstanding balance $ 183,663 $ 168,098 Highest outstanding balance at any month-end 336,775 439,547 Effective interest rate (1) 5.28 % 4.97 % (1) Represents interest expense divided by average gross outstanding balance and includes average rate ( 4.23 %) and debt issue cost amortization ( 1.05 %) and average rate ( 4.31 %) and debt issue cost amortization ( 0.66 %) as of December 31, 2021 and 2020, respectively.
Summary of Interest Expense	The following table provides a summary of interest expense that includes debt issuance cost amortization, interest, amortization of discount, and deal cost amortization for the years ended December 31, 2021 and 2020 (in thousands): December 31, 2021 2020 Warehouse and repurchase facilities $ 9,706 $ 8,352 Securitizations 75,680 79,474 Interest expense — portfolio related 85,386 87,826 Interest expense — corporate debt 20,609 12,049 (1) Total interest expense $ 105,995 $ 99,875 (1) Included in the $ 12.1 million of interest expense – corporate debt for the year ended December 31, 2020 was the one-time debt issuance costs write-off of $ 3.5 million and prepayment penalties of $ 0.3 million associated with the repayment of $ 75.0 million in outstanding principal amount in January 2020.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Summary of Company’s Income Tax Expense (Benefit)	The following table details the Company’s income tax expense (benefit) (in thousands): December 31, 2021 2020 Current tax expense: Federal $ 15,042 $ 4,454 State 5,477 ( 769 ) Total current tax expense $ 20,519 $ 3,685 Deferred tax expense (benefit): Federal $ ( 7,362 ) $ 564 State ( 2,588 ) 1,103 Total deferred tax expense (benefit) $ ( 9,950 ) $ 1,667 Total income tax expense $ 10,569 $ 5,352
Summary of Company's Reconciliation of the Company's Provision for Income Taxes at Federal Statutory Tax Rate	The following table contains a reconciliation of the Company’s provision for income taxes at the federal statutory tax rate to the provision for income taxes at the effective tax rate as of December 31, 2021 and 2020: December 31, 2021 2020 Federal income tax provision at statutory rate 21.0 % 21.0 % State income taxes, net of federal tax benefit 5.6 8.6 Permanent items 0.1 0.1 Federal true-ups — 0.5 Tax credits ( 0.2 ) ( 0.4 ) Change in unrecognized tax benefit — ( 7.9 ) Other 0.1 1.2 Effective tax rate 26.6 % 23.1 %
Summary of Tax Effects of Temporary Differences That Give Rise to Deferred Tax Assets and Deferred Tax Liabilities	The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities as of December 31, 2021 and 2020 are presented below (in thousands): December 31, 2021 2020 Deferred tax assets: REMIC book-tax basis difference $ 10,433 $ 5,363 Mark-to-market on loans 7,066 3,052 Lease liability 1,151 1,462 Stock compensation 888 275 Accrued vacation 226 183 Intangibles 7 10 REO 225 — Other 82 83 Gross deferred tax assets 20,078 10,428 Deferred tax liabilities: Right-of-use assets ( 1,064 ) ( 1,363 ) Deferred origination costs ( 1,306 ) ( 1,014 ) Fixed assets ( 710 ) ( 975 ) Deferred state taxes ( 394 ) ( 341 ) REO — ( 81 ) Gross deferred tax liabilities ( 3,474 ) ( 3,774 ) Total net deferred tax asset $ 16,604 $ 6,654
Summary of Reconciliation of the Company's Gross Unrecognized Tax Benefits	Detailed below is a reconciliation of the Company's gross unrecognized tax benefits for the years ended December 31, 2021 and 2020, respectively (in thousands): December 31, 2021 2020 Beginning balance $ 1,860 $ 3,559 Changes related to current year tax positions 49 46 Changes related to prior year tax positions 2 ( 1,745 ) Ending balance $ 1,911 $ 1,860

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Assumptions to Estimate Fair Value of Stock Options	The following table present the assumptions used in the option pricing model at the grant date for options granted in the year ended December 31, 2020: Assumptions: December 31, 2020 Expected volatility 0.28 Expected dividends — Risk-free interest rate 1.50 Expected forfeited rate —
Summary of Stock Option Activity	The tables below summarize stock option activity during the years ended December 31, 2021 and 2020: December 31, 2021 ($ in thousands, except per share amounts) Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Options outstanding at beginning of year 785,000 $ 12.89 Granted — — Exercised — — Forfeited — — Options outstanding at end of year 785,000 $ 12.89 8.1 years $ 93 Options exercisable at end of year 261,667 $ 12.89 8.1 years $ 31 Options expected to vest (1) 523,333 $ 12.89 8.1 years $ 62 December 31, 2020 ($ in thousands, except per share amounts) Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Options outstanding at beginning of year — $ — Granted 795,000 12.89 Exercised — — Forfeited ( 10,000 ) 13.00 Options outstanding at end of year 785,000 $ 12.89 9.1 years — Options exercisable at end of year — $ — 9.1 years — Options expected to vest (1) 785,000 $ 12.89 9.1 years — (1) The number of options expected to vest reflects no expected forfeiture .
Summary of Restricted Stock Award Activity	The table below summarizes restricted stock award activity during the year ended December 31, 2021: Employee Non-Employee Director Total Restricted Stock Awards Restricted Stock Awards Restricted Stock Awards ($ in thousands, except per share amounts) Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2020 — $ — — $ — — $ — Granted 480,000 7.04 26,511 10.75 506,511 7.23 Exercised — — — — — — Forfeited — — — — — — Nonvested at December 31, 2021 480,000 $ 7.04 26,511 $ 10.75 506,511 $ 7.23

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Basic and Diluted income (Loss) Per Share	The following table presents the basic and diluted income (loss) per share calculations for the years ended December 31, 2021 and 2020: December 31, 2021 2020 (In thousands, except per share data) Basic EPS: Net income $ 29,224 $ 17,777 Less: deemed dividends on preferred stock — 48,955 Net income (loss) allocated to common stock $ 29,224 $ ( 31,178 ) Less: earnings allocated to participating securities 8,589 — Net earnings (loss) allocated to common stock $ 20,635 $ ( 31,178 ) Weighted average common shares outstanding 22,813 20,087 Basic income (loss) per common share $ 0.90 $ ( 1.55 ) Diluted EPS: Net income (loss) allocated to common shareholders $ 20,635 $ ( 31,178 ) Weighted average common shares outstanding 22,813 20,087 Add dilutive effects for assumed conversion of Series A preferred stock 8,989 — Add dilutive effects for warrants 1,974 — Add dilutive effects for stock options 3 — Add dilutive effects of unvested restricted stock awards 203 — Weighted average diluted common shares outstanding 33,982 20,087 Diluted income (loss) per common share $ 0.86 $ ( 1.55 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table sets forth the number of shares excluded from the computation of diluted loss per share, as their inclusion would have been anti-dilutive (in-thousands): December 31, 2021 2020 Shares underlying Series A Convertible Preferred Stock — 11,688 Shares underlying warrants — 3,013 Stock options 773 785 Unvested restricted stock awards — — Shares equivalents excluded from EPS 773 15,486

Concentration of Risk (Tables)

Concentration of Risk (Tables)	12 Months Ended
	Dec. 31, 2021
Commercial Property
Concentration Risk [Line Items]
Concentrations of Loans Unpaid Principal Balance and Real Estate Owned Net	As of December 31, 2021 and 2020, geographic and property type concentrations of loans, by unpaid principal balance, were as follows: December 31, 2021 2020 Geographic concentration: California 23.3 % 23.5 % New York 21.4 22.8 Florida 13.5 11.5 New Jersey 7.7 8.1 Other states (individually less than 5.0%) 34.1 34.1 100.0 % 100.0 % December 31, 2021 2020 Property type concentration: Investor 1-4 50.7 % 50.0 % Mixed use 12.8 13.3 Multifamily 8.8 9.4 Retail 9.1 8.8 Office 6.1 5.6 Warehouse 6.7 6.1 Other (individually less than 5.0%) 5.8 6.8 100.0 % 100.0 %
Real Estate Owned, Net
Concentration Risk [Line Items]
Concentrations of Loans Unpaid Principal Balance and Real Estate Owned Net	As of December 31, 2021 and 2020 , the Company held $ 17.6 million and $ 15.8 million, respectively, of real estate owned, net, with geographic concentrations as follows: December 31, 2021 2020 Geographic concentration: Maryland 21.4 % 23.5 % Connecticut 6.1 21.7 Ohio 11.9 10.7 California 24.9 7.9 North Carolina 1.1 7.6 Arizona — 7.1 Alabama — 6.0 New Jersey 10.7 2.5 Other states (individually less than 5.0%) 23.9 13.0 100.0 % 100.0 %

Other Operating Expenses (Table

Other Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Other Operating Expenses [Abstract]
Summary of Other Operating Expenses	The following table presents the components of other operating expenses for the years ended December 31, 2021, 2020 and 2019 (in thousands): December 31, 2021 2020 2019 Travel, marketing and business development $ 661 $ 578 $ 1,307 Data processing and telecommunications 2,476 2,150 2,094 Office expenses 1,396 1,579 1,891 Insurance, taxes, and licenses 2,457 2,179 470 Other (1) 1,498 1,914 219 Total other operating expenses $ 8,488 $ 8,400 $ 5,981 (1) Other expenses increased in 2020 due to costs associated with operating as a public company, including SEC filing fees and Board of Directors fees.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Information on Assets Measured and Recorded at Fair Value	The following tables present information on assets measured and recorded at fair value as of December 31, 2021 and 2020, by level, in the fair value hierarchy (in thousands): Fair value measurements using Total at December 31, 2021 Level 1 Level 2 Level 3 fair value Recurring fair value measurements: Loans held for investment, at fair value $ — $ — $ 1,359 $ 1,359 Mortgage servicing rights — — 7,152 7,152 Total recurring fair value measurements — — 8,511 8,511 Nonrecurring fair value measurements: Loans held for sale, net — — 87,422 87,422 Real estate owned, net — — 17,557 17,557 Individually evaluated loans requiring specific allowance, net — — 11,987 11,987 Total nonrecurring fair value measurements — — 116,966 116,966 Total assets $ — $ — $ 125,477 $ 125,477 Fair value measurements using Total at December 31, 2020 Level 1 Level 2 Level 3 fair value Recurring fair value measurements: Loans held for investment, at fair value $ — $ — $ 1,539 $ 1,539 Interest-only strips — — 238 238 Total recurring fair value measurements — — 1,777 1,777 Nonrecurring fair value measurements: Loans held for sale, net — — 13,106 13,106 Real estate owned, net — — 15,767 15,767 Impaired loans requiring specific allowance, net — — 19,340 19,340 Total nonrecurring fair value measurements — — 48,213 48,213 Total assets $ — $ — $ 49,990 $ 49,990
Schedule of Gains and Losses Recognized on Assets Measured on Nonrecurring Basis	The following table presents gain (losses) recognized on assets measured on a nonrecurring basis for the years indicated (in thousands): December 31, Gain (loss) on assets measured on a nonrecurring basis 2021 2020 2019 Loans held for sale, net $ 17 $ 328 $ ( 224 ) Real estate held for sale, net ( 1,759 ) ( 1,734 ) ( 1,631 ) Individually evaluated loans requiring specific allowance, net 1,262 ( 1,755 ) ( 277 ) Total net loss $ ( 480 ) $ ( 3,161 ) $ ( 2,132 )
Valuation Techniques and Unobservable Inputs Related to Level 3 Assets	The following tables present the primary valuation techniques and unobservable inputs related to Level 3 assets as of December 31, 2021 and 2020 ($ in thousands): December 31, 2021 Asset category Fair value Primary Unobservable Range Weighted Individually evaluated $ 11,987 Market comparables Selling costs 8.0 % 8.0 % Real estate owned, net 17,557 Market comparables Selling costs 8.0 % 8.0 % Loans held for 1,359 Discounted cash flow Discount rate 5.8 % 5.8 % Collateral value 95.0 % to 120.0 % 106.0 % Timing of resolution/payoff 1 to 38 34.8 Prepayment rate 19.2 % to 50 % 19.2 % to 50 % Default rate 0.0 % to 6.7 % 1.0 % Loss severity rate 0.0 % to 13.4 % 3.0 % Loans held for sale 87,422 Discounted cash flow Discount rate 5.8 % 5.8 % Timing of resolution/payoff 3 to 37 13.0 Mortgage servicing rights 7,152 Discounted cash flow Discount rate 8.0 % to 12.0 % 8.0 % Prepayment rate 2.4 % to 3.5 % 3.2 % December 31, 2020 Asset category Fair value Primary Unobservable Range Weighted Individually evaluated $ 19,340 Market comparables Selling costs 8.0 % 8.0 % Real estate owned, net 15,767 Market comparables Selling costs 8.0 % 8.0 % Loans held for 1,539 Discounted cash flow Discount rate 6.2 % 6.2 % Collateral value 94.0 % to 104.0 % 100.0 % Timing of resolution/payoff 14 to 31 25.0 Prepayment rate 17.5 % to 30.0 % 17.5 % to 30.0 % Default rate 5.0 % to 15.0 % 12.0 % Loss severity rate 1.0 % 1.0 % Loans held for sale 13,106 Discounted cash flow Discount rate 6.2 % 6.2 % Timing of resolution/payoff 31 to 34 32.0 Interest-only strips 238 Discounted cash flow Discount rate 15.0 % 15.0 % Timing of resolution/payoff 0 to 12 1.5
Rollforward of Loans and Interest Only Strips Measured at Estimated Fair Value on Recurring Basis	The following is a rollforward of loans that are measured at estimated fair value on a recurring basis for the years indicated (in thousands): December 31, 2021 2020 2019 Beginning balance $ 1,539 $ 2,960 $ 3,463 Loans liquidated ( 163 ) ( 1,808 ) ( 421 ) Principal paydowns ( 46 ) ( 55 ) ( 73 ) Total unrealized gain (loss) included in net 29 442 ( 9 ) Ending balance $ 1,359 $ 1,539 $ 2,960 The following is a rollforward of interest-only strips that are measured at estimated fair value on a recurring basis for the years indicated (in thousands): December 31, 2021 2020 2019 Beginning balance $ 238 $ 894 $ 812 Interest-only strip additions — 1,820 2,495 Interest-only strip write-offs ( 238 ) ( 2,469 ) ( 2,202 ) Total unrealized loss included in net — ( 7 ) ( 211 ) Ending balance $ — $ 238 $ 894
Carrying Amounts and Estimated Fair Values of Financial Instruments	The following tables present carrying amounts and estimated fair values of certain financial instruments as of the dates indicated (in thousands): December 31, 2021 Carrying Estimated Asset category Value Level 1 Level 2 Level 3 Fair Value Assets: Cash $ 35,965 $ 35,965 $ — $ — $ 35,965 Restricted cash 11,639 11,639 — — 11,639 Loans held for sale, net 87,908 — — 87,908 87,908 Loans held for investment, net 2,527,564 — — 2,655,357 2,655,357 Loans held for investment, at fair value 1,359 — — 1,359 1,359 Accrued interest receivables 13,159 13,159 — — 13,159 Mortgage servicing rights 7,152 — — 7,152 7,152 Liabilities: Secured financing, net $ 162,845 $ — $ — $ 170,843 $ 170,843 Warehouse and repurchase facilities, net 301,069 — 301,069 — 301,069 Securitizations, net 1,911,879 — — 1,931,002 1,931,002 Accrued interest payable 6,254 6,254 — — 6,254 December 31, 2020 Carrying Estimated Asset category Value Level 1 Level 2 Level 3 Fair Value Assets: Cash $ 13,273 $ 13,273 $ — $ — $ 13,273 Restricted cash 7,020 7,020 — — 7,020 Loans held for sale, net 13,106 — — 13,272 13,272 Loans held for investment, net 1,948,089 — — 2,003,301 2,003,301 Loans held for investment, at fair value 1,539 — — 1,539 1,539 Accrued interest receivable 11,373 11,373 — — 11,373 Interest-only strips 238 — — 238 238 Liabilities: Secured financing, net $ 74,982 $ — $ — $ 78,000 $ 78,000 Warehouse repurchase facilities, net 75,923 — 75,923 — 75,923 Securitizations, net 1,579,019 — — 1,616,222 1,616,222 Accrued interest payable 5,503 5,503 — — 5,503

Select Quarterly Financial Da_2

Select Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]
Schedule of Unaudited Quarterly Results	The following tables set forth the Company's unaudited quarterly results for the periods indicated: Three Months Ended December 31, September 30, June 30, March 31, December 31, September 30, June 30, March 31, (in thousands) Interest income $ 49,360 $ 46,923 $ 44,978 $ 40,707 $ 41,556 $ 41,374 $ 39,755 $ 44,637 Interest expense - portfolio related 23,666 20,321 20,566 20,832 21,442 22,347 21,189 22,848 Net interest income - portfolio related 25,694 26,602 24,412 19,875 20,114 19,027 18,566 21,789 Interest expense - corporate debt 4,462 4,488 4,309 7,350 1,900 1,913 1,894 6,342 Net interest income 21,232 22,114 20,103 12,525 18,214 17,114 16,672 15,447 Provision for (reversal of) loan losses 377 228 ( 1,000 ) 105 406 1,573 1,800 1,290 Net interest income after provision 20,855 21,886 21,103 12,420 17,808 15,541 14,872 14,157 Other operating income (expense) 2,617 339 2,432 2,801 4,691 1,349 ( 1,339 ) 1,620 Operating expenses 12,095 11,298 10,650 10,617 10,746 11,865 10,908 12,050 Income before income taxes 11,377 10,927 12,885 4,604 11,753 5,025 2,625 3,727 Income tax expense 3,024 2,905 3,432 1,208 2,177 1,544 484 1,148 Net income $ 8,353 $ 8,022 $ 9,453 $ 3,396 $ 9,576 $ 3,481 $ 2,141 $ 2,579

Organization and Description _2

Organization and Description of Business - Additional Information (Details) - USD ($)	Dec. 28, 2021	Jan. 28, 2020	Jan. 22, 2020	Dec. 31, 2021	Dec. 31, 2020	Oct. 08, 2021	Jan. 16, 2020
Class Of Stock [Line Items]
Date of incorporation				Jul. 9, 2012
Minimum net worth required				$ 250,000
Century
Class Of Stock [Line Items]
Payments to acquire businesses	$ 12,800,000
Percentage of voting interests acquired	80.00%
Class A equity units
Class Of Stock [Line Items]
Shares issued upon conversion of equity units							97,513,533
Class D equity units
Class Of Stock [Line Items]
Shares issued upon conversion of equity units							60,193,989
Common Stock
Class Of Stock [Line Items]
Shares issued upon conversion of equity units						11,688,310	11,749,994
Issuance of common stock, shares		1,087,500	7,250,000	11,699,037	20,087,494
Stock price		$ 13	$ 13

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Off-balance-sheet assets or liabilities	$ 0
Long-Term Loans
Loan period applicable for CPR curve	30 years
Maximum
Quick Fix loans, maturity period	2 years
Non-Quick Fix loans, maturity period	30 years
Property, plant and equipment, useful life	7 years
Maximum | Software Development
Property, plant and equipment, useful life	10 years
Maximum | Short-Term Loans
Loan period applicable for CPR curve	2 years
Minimum
Quick Fix loans, maturity period	1 year
Property, plant and equipment, useful life	3 years
Minimum | Software Development
Property, plant and equipment, useful life	3 years

Current Accounting Developmen_2

Current Accounting Developments - Additional Information (Details)	Dec. 31, 2021
Accounting Standards Update 2019-12
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2021
Change in accounting principle, accounting standards update, immaterial effect [true false]	true
Accounting Standards Update 2020-08
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2021
Change in accounting principle, accounting standards update, immaterial effect [true false]	true

Cash, Cash Equivalents, and R_3

Cash, Cash Equivalents, and Restricted Cash - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash And Cash Equivalents [Abstract]
Cash and cash equivalents	$ 35,965	$ 13,273	$ 21,465
Restricted cash	11,639	7,020	6,087
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$ 47,604	$ 20,293	$ 27,552	$ 16,677

Loans Held for Sale, Net - Summ

Loans Held for Sale, Net - Summary of Loans Held for Sale (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Loans Held For Sale [Abstract]
Unpaid principal balance	$ 87,422	$ 12,929
Valuation adjustments		(17)
Deferred loan origination costs	486	194
Ending balance	$ 87,908	$ 13,106

Loans Held for Sale, Net - Addi

Loans Held for Sale, Net - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Jul. 31, 2020
Unusual Risk Or Uncertainty [Line Items]
Allowance for loan losses	$ 1,406	$ 2,668
Cares Act
Unusual Risk Or Uncertainty [Line Items]
Loans held for sale other	87,900		$ 214,400
Cares Act | Related valuation allowance [Member]
Unusual Risk Or Uncertainty [Line Items]
Allowance for loan losses	$ 1,300

Loans Held for Investment and_3

Loans Held for Investment and Loans Held for Investment at Fair Value - Summary of Loans Held for Investment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts Notes And Loans Receivable [Line Items]
Allowance for loan losses	$ (4,262)	$ (5,845)	$ (2,240)
Net Loans Held For Investment
Accounts Notes And Loans Receivable [Line Items]
Unpaid principal balance	2,498,466	1,930,334
Deferred loan origination costs	33,360	23,600
Total loans held for investment and loans held for investment at fair value, gross	2,531,826	1,953,934
Allowance for loan losses	(4,262)	(5,845)
Total loans held for investment, net	2,527,564	1,948,089
Loans At Fair Value Held For Investment
Accounts Notes And Loans Receivable [Line Items]
Unpaid principal balance	1,332	1,541
Valuation adjustments on FVO loans	27	(2)
Total loans held for investment and loans held for investment at fair value, gross	1,359	1,539
Total loans held for investment, net	1,359	1,539
Total Loans Held For Investment
Accounts Notes And Loans Receivable [Line Items]
Unpaid principal balance	2,499,798	1,931,875
Valuation adjustments on FVO loans	27	(2)
Deferred loan origination costs	33,360	23,600
Total loans held for investment and loans held for investment at fair value, gross	2,533,185	1,955,473
Allowance for loan losses	(4,262)	(5,845)
Total loans held for investment, net	$ 2,528,923	$ 1,949,628

Loans Held for Investment and_4

Loans Held for Investment and Loans Held for Investment at Fair Value - Additional Information (Details) - USD ($)	12 Months Ended		21 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021
Accounts Notes And Loans Receivable [Line Items]
Accrued interest income recognized on nonaccrual loans	$ 0	$ 0
Cash basis interest income recognized on nonaccrual loans	31,200,000	17,500,000
Average recorded investment of individually evaluated loans, computed using month-end balances	311,200,000	250,000,000
Allowance for loan losses decreased including the impact from the adoption of ASC 326	$ 4,300,000	$ 5,800,000	$ 4,300,000
Recovery rate on nonperforming assets	104.20%	103.10%
COVID-19
Accounts Notes And Loans Receivable [Line Items]
Loans	$ 296,000,000	$ 396,900,000	296,000,000
90+days
Accounts Notes And Loans Receivable [Line Items]
Annualized charge rate of non performing loans	0.42%	0.65%
COVID 19 Forbearance Program
Accounts Notes And Loans Receivable [Line Items]
Loans held for investment	$ 394,700,000		394,700,000
Loans held for investment forbearance period	90 days
Amount of loan granted for unusual risk forbearance	$ 138,000,000	$ 408,200,000	$ 138,000,000
Loans held for investment unpaid principal balance performing and accruing, percentage	79.80%	83.60%	79.80%
Loans held for investment unpaid principal balance nonperforming and nonaccrual percentage	20.20%	16.40%	20.20%
Accrued interest income recognized on nonaccrual loans	$ 2,400,000		$ 10,100,000

Loans Held for Investment and_5

Loans Held for Investment and Loans Held for Investment at Fair Value - Summary of UPB and Amortized Cost Basis of Loans in COVID-19 Forbearance Program (Details) - COVID 19 Forbearance Program - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
UPB Beginning balance	$ 392,073
UPB Additions	2,616	$ 438,152
UPB Foreclosures	(402)
UPB Repayments	(101,858)	(46,079)
UPB Ending balance	292,429	392,073
UPB Performing/Accruing, Amount	233,307	327,708
UPB Nonperforming/Nonaccrual, Amount	$ 59,122	$ 64,365
UPB Performing/Accruing, Percentage	79.80%	83.60%
UPB Nonperforming/Nonaccrual, Percentage	20.20%	16.40%
Amortized Cost Beginning balance	$ 396,918
Amortized Cost Additions	2,615	$ 443,479
Amortized Cost Foreclosures	(408)
Amortized Cost Repayments	(103,135)	(46,561)
Amortized Cost Ending balance	295,990	396,918
Amortized Cost Performing/Accruing, Amount	236,076	330,495
Amortized Cost Nonperforming/Nonaccrual, Amount	$ 59,914	$ 66,423
Amortized Cost Performing/Accruing, Percentage	79.80%	83.30%
Amortized Cost Nonperforming/Nonaccrual, Percentage	20.20%	16.70%

Loans Held for Investment and_6

Loans Held for Investment and Loans Held for Investment at Fair Value - Schedule of Loans Held for Investment Pledged as Collateral for Warehouse Facility Agreements and Securitizations Issued (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Total pledged loans	$ 400,759	$ 91,074
Total	2,172,766	1,852,554
2013 Repurchase Agreement
Accounts Notes And Loans Receivable [Line Items]
Total pledged loans	202,511	91,074
2015 Repurchase Agreement
Accounts Notes And Loans Receivable [Line Items]
Total pledged loans	114,072
Bank Credit Agreement
Accounts Notes And Loans Receivable [Line Items]
Total pledged loans	30,959
2021 Repurchase Agreement
Accounts Notes And Loans Receivable [Line Items]
Total pledged loans	53,217
2014-1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total		22,228
2015-1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	31,931	48,179
2016-1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	52,623	71,271
2016-2 Trust
Accounts Notes And Loans Receivable [Line Items]
Total		47,282
2017-1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total		81,376
2017-2 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	94,809	137,970
2018-1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	71,051	112,042
2018-2 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	154,974	224,195
2019-1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	144,727	203,144
2019-2 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	132,358	175,560
2019-3 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	103,266	135,527
2020-1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	189,547	241,664
2020-2 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	98,403	123,646
2020-MC1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	134,957	$ 228,470
2021-1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	249,396
2021-2 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	198,039
2021-3 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	202,138
2021-4 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	$ 314,547

Loans Held for Investment and_7

Loans Held for Investment and Loans Held for Investment at Fair Value - Schedule of Nonaccrual With No Allowance for Loan Loss and Total Nonaccrual of Loans Held for Investment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable Impaired [Line Items]
Total Nonaccrual	$ 276,418	$ 336,236
Nonaccrual with No Allowance for Loan Loss	263,026	314,228
Nonaccrual with Allowance for Loan Loss	13,392	22,008
Allowance for Loans Individually Evaluated	$ 1,406	$ 2,668
Percentage of Allowance to Total Nonaccrual/ Impaired Loans	10.50%	12.10%
Financing receivable, 90 days or more past due, still accruing		$ 1,979
Troubled debt restructuring included in nonaccrual loans:	$ 165	173
Commercial - Purchase
Financing Receivable Impaired [Line Items]
Total Nonaccrual	17,260	22,166
Nonaccrual with No Allowance for Loan Loss	16,501	20,955
Nonaccrual with Allowance for Loan Loss	759	1,211
Allowance for Loans Individually Evaluated	$ 9	$ 153
Percentage of Allowance to Total Nonaccrual/ Impaired Loans	0.10%	0.70%
Commercial - Refinance
Financing Receivable Impaired [Line Items]
Total Nonaccrual	$ 85,935	$ 101,117
Nonaccrual with No Allowance for Loan Loss	79,131	96,804
Nonaccrual with Allowance for Loan Loss	6,804	4,313
Allowance for Loans Individually Evaluated	$ 826	$ 519
Percentage of Allowance to Total Nonaccrual/ Impaired Loans	6.20%	2.30%
Financing receivable, 90 days or more past due, still accruing		$ 1,747
Residential 1-4 Unit - Purchase
Financing Receivable Impaired [Line Items]
Total Nonaccrual	$ 17,385	26,373
Nonaccrual with No Allowance for Loan Loss	17,128	25,839
Nonaccrual with Allowance for Loan Loss	257	534
Allowance for Loans Individually Evaluated	$ 96	$ 128
Percentage of Allowance to Total Nonaccrual/ Impaired Loans	0.70%	0.60%
Residential 1-4 Unit - Refinance
Financing Receivable Impaired [Line Items]
Total Nonaccrual	$ 107,552	$ 120,152
Nonaccrual with No Allowance for Loan Loss	105,515	113,206
Nonaccrual with Allowance for Loan Loss	2,037	6,946
Allowance for Loans Individually Evaluated	$ 138	$ 465
Percentage of Allowance to Total Nonaccrual/ Impaired Loans	1.00%	2.10%
Financing receivable, 90 days or more past due, still accruing		$ 109
Short Term 1-4 Unit - Purchase
Financing Receivable Impaired [Line Items]
Total Nonaccrual	$ 2,986	6,585
Nonaccrual with No Allowance for Loan Loss	2,881	3,808
Nonaccrual with Allowance for Loan Loss	105	2,777
Allowance for Loans Individually Evaluated	$ 31	$ 525
Percentage of Allowance to Total Nonaccrual/ Impaired Loans	0.20%	2.40%
Short Term 1-4 Unit - Refinance
Financing Receivable Impaired [Line Items]
Total Nonaccrual	$ 45,300	$ 59,843
Nonaccrual with No Allowance for Loan Loss	41,870	53,616
Nonaccrual with Allowance for Loan Loss	3,430	6,227
Allowance for Loans Individually Evaluated	$ 306	$ 878
Percentage of Allowance to Total Nonaccrual/ Impaired Loans	2.30%	4.00%
Financing receivable, 90 days or more past due, still accruing		$ 123
Individual Loan Evaluation
Financing Receivable Impaired [Line Items]
Troubled debt restructuring included in nonaccrual loans:	$ 25

Loans Held for Investment and_8

Loans Held for Investment and Loans Held for Investment at Fair Value - Schedule of Accrued Interest Receivables Written Off by Reversing Interest Income by Portfolio Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable Impaired [Line Items]
Financing Receivable, Amortized Cost Basis	$ 2,531,826	$ 1,953,934
Financing Receivable, Accrued Interest, Writeoff	(4,679)	(10,897)
Commercial - Purchase
Financing Receivable Impaired [Line Items]
Financing Receivable, Amortized Cost Basis	509,421	300,903
Financing Receivable, Accrued Interest, Writeoff	(346)	(827)
Commercial - Refinance
Financing Receivable Impaired [Line Items]
Financing Receivable, Amortized Cost Basis	783,260	685,097
Financing Receivable, Accrued Interest, Writeoff	(1,176)	(3,798)
Residential 1-4 Unit - Purchase
Financing Receivable Impaired [Line Items]
Financing Receivable, Amortized Cost Basis	408,770	224,593
Financing Receivable, Accrued Interest, Writeoff	(209)	(887)
Residential 1-4 Unit - Refinance
Financing Receivable Impaired [Line Items]
Financing Receivable, Amortized Cost Basis	730,321	566,925
Financing Receivable, Accrued Interest, Writeoff	(1,474)	(4,186)
Short Term 1-4 Unit - Purchase
Financing Receivable Impaired [Line Items]
Financing Receivable, Amortized Cost Basis	28,989	43,325
Financing Receivable, Accrued Interest, Writeoff	(821)	(160)
Short Term 1-4 Unit - Refinance
Financing Receivable Impaired [Line Items]
Financing Receivable, Amortized Cost Basis	71,065	133,091
Financing Receivable, Accrued Interest, Writeoff	$ (653)	$ (1,039)

Loans Held for Investment and_9

Loans Held for Investment and Loans Held for Investment at Fair Value - Activity in Allowance for loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance for credit losses:
Beginning balance				$ 5,845				$ 2,240	$ 5,845	$ 2,240
Provision for loan losses	$ 377	$ 228	$ (1,000)	105	$ 406	$ 1,573	$ 1,800	1,290	(292)	5,068	$ 1,139
Charge-offs									(1,291)	(1,600)
Ending balance	4,262				5,845				4,262	5,845	2,240
Allowance for Loans Individually Evaluated	1,406				2,668				1,406	2,668
Allowance related to Loans collectively evaluated	2,856				3,176				2,856	3,176
Amortized cost related to Loans individually evaluated	276,418				336,236				276,418	336,236
Amortized cost related to Loans collectively evaluated	2,255,408				1,617,698				2,255,408	1,617,698
Impact of Adopting | ASC 326
Allowance for credit losses:
Beginning balance								137		137
Ending balance											137
Adjusted Balance | ASC 326
Allowance for credit losses:
Beginning balance								2,377		2,377
Ending balance											2,377
Commercial - Purchase
Allowance for credit losses:
Beginning balance				373				304	373	304
Provision for loan losses									154	129
Charge-offs									(142)	(79)
Ending balance	385				373				385	373	304
Allowance for Loans Individually Evaluated	9				153				9	153
Allowance related to Loans collectively evaluated	376				220				376	220
Amortized cost related to Loans individually evaluated	17,260				22,166				17,260	22,166
Amortized cost related to Loans collectively evaluated	492,161				278,738				492,161	278,738
Commercial - Purchase | Impact of Adopting | ASC 326
Allowance for credit losses:
Beginning balance								19		19
Ending balance											19
Commercial - Purchase | Adjusted Balance | ASC 326
Allowance for credit losses:
Beginning balance								323		323
Ending balance											323
Commercial - Refinance
Allowance for credit losses:
Beginning balance				2,093				1,016	2,093	1,016
Provision for loan losses									164	1,233
Charge-offs									(113)	(218)
Ending balance	2,144				2,093				2,144	2,093	1,016
Allowance for Loans Individually Evaluated	826				519				826	519
Allowance related to Loans collectively evaluated	1,318				1,574				1,318	1,574
Amortized cost related to Loans individually evaluated	85,935				101,117				85,935	101,117
Amortized cost related to Loans collectively evaluated	697,326				583,981				697,326	583,981
Commercial - Refinance | Impact of Adopting | ASC 326
Allowance for credit losses:
Beginning balance								62		62
Ending balance											62
Commercial - Refinance | Adjusted Balance | ASC 326
Allowance for credit losses:
Beginning balance								1,078		1,078
Ending balance											1,078
Residential 1-4 Unit - Purchase
Allowance for credit losses:
Beginning balance				333				148	333	148
Provision for loan losses									104	349
Charge-offs									(37)	(173)
Ending balance	400				333				400	333	148
Allowance for Loans Individually Evaluated	96				128				96	128
Allowance related to Loans collectively evaluated	305				205				305	205
Amortized cost related to Loans individually evaluated	17,385				26,373				17,385	26,373
Amortized cost related to Loans collectively evaluated	391,385				198,220				391,385	198,220
Residential 1-4 Unit - Purchase | Impact of Adopting | ASC 326
Allowance for credit losses:
Beginning balance								9		9
Ending balance											9
Residential 1-4 Unit - Purchase | Adjusted Balance | ASC 326
Allowance for credit losses:
Beginning balance								157		157
Ending balance											157
Residential 1-4 Unit - Refinance
Allowance for credit losses:
Beginning balance				1,216				772	1,216	772
Provision for loan losses									(60)	440
Charge-offs									(208)	(43)
Ending balance	948				1,216				948	1,216	772
Allowance for Loans Individually Evaluated	138				465				138	465
Allowance related to Loans collectively evaluated	811				751				811	751
Amortized cost related to Loans individually evaluated	107,552				120,152				107,552	120,152
Amortized cost related to Loans collectively evaluated	622,768				446,773				622,768	446,773
Residential 1-4 Unit - Refinance | Impact of Adopting | ASC 326
Allowance for credit losses:
Beginning balance								47		47
Ending balance											47
Residential 1-4 Unit - Refinance | Adjusted Balance | ASC 326
Allowance for credit losses:
Beginning balance								$ 819		819
Ending balance											$ 819
Short Term 1-4 Unit - Purchase
Allowance for credit losses:
Beginning balance				595					595
Provision for loan losses									(538)	645
Charge-offs									(14)	(50)
Ending balance	43				595				43	595
Allowance for Loans Individually Evaluated	31				525				31	525
Allowance related to Loans collectively evaluated	10				69				10	69
Amortized cost related to Loans individually evaluated	2,986				6,585				2,986	6,585
Amortized cost related to Loans collectively evaluated	26,003				36,738				26,003	36,738
Short Term 1-4 Unit - Refinance
Allowance for credit losses:
Beginning balance				$ 1,235					1,235
Provision for loan losses									(116)	2,272
Charge-offs									(777)	(1,037)
Ending balance	342				1,235				342	1,235
Allowance for Loans Individually Evaluated	306				878				306	878
Allowance related to Loans collectively evaluated	36				357				36	357
Amortized cost related to Loans individually evaluated	45,300				59,843				45,300	59,843
Amortized cost related to Loans collectively evaluated	$ 25,765				$ 73,248				$ 25,765	$ 73,248

Loans Held for Investment an_10

Loans Held for Investment and Loans Held for Investment at Fair Value - Activity in Allowance for Loan Losses (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable Allowance For Credit Losses [Line Items]
Provision for loan losses	$ 377	$ 228	$ (1,000)	$ 105	$ 406	$ 1,573	$ 1,800	$ 1,290	$ (292)	$ 5,068	$ 1,139
Other (expense) income									$ 267	(1,698)	$ (1,752)
Allowance For Credit Losses
Financing Receivable Allowance For Credit Losses [Line Items]
Provision for loan losses										3,900
Transfer of loans held for sale to held for investment										1,200
Additional provision for loans losses										1,200
Other (expense) income										$ 1,300

Loans Held for Investment an_11

Loans Held for Investment and Loans Held for Investment at Fair Value - Schedule of Aging Status of Amortized Cost Basis in Loans Held for Investment Portfolio (Details) - COVID19 Pandemic - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	$ 295,990
Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	2,531,826	$ 1,953,934
Loans Individually Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	59,914
Loans Individually Evaluated | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	276,418	336,236
Loans Individually Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	6,044
Loans Individually Evaluated | Commercial - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	17,260	22,166
Loans Individually Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	21,340
Loans Individually Evaluated | Commercial - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	85,935	101,117
Loans Individually Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	3,045
Loans Individually Evaluated | Residential 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	17,385	26,373
Loans Individually Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	22,670
Loans Individually Evaluated | Residential 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	107,552	120,152
Loans Individually Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	279
Loans Individually Evaluated | Short Term 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	2,986	6,585
Loans Individually Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	6,536
Loans Individually Evaluated | Short Term 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	45,300	59,843
Loans Collectively Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	236,076
Loans Collectively Evaluated | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	2,255,408	1,617,698
Loans Collectively Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	34,271
Loans Collectively Evaluated | Commercial - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	492,161	278,738
Loans Collectively Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	100,793
Loans Collectively Evaluated | Commercial - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	697,326	583,981
Loans Collectively Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	18,867
Loans Collectively Evaluated | Residential 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	391,385	198,219
Loans Collectively Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	52,719
Loans Collectively Evaluated | Residential 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	622,768	446,773
Loans Collectively Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	21,630
Loans Collectively Evaluated | Short Term 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	26,003	36,739
Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	7,796
Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	25,765	73,248
30–59 days
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	37,396
30–59 days | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	136,320	95,952
30–59 days | Loans Individually Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	666
30–59 days | Loans Individually Evaluated | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	7,810	5,675
30–59 days | Loans Individually Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	163
30–59 days | Loans Individually Evaluated | Commercial - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	700	961
30–59 days | Loans Individually Evaluated | Commercial - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	4,464	2,118
30–59 days | Loans Individually Evaluated | Residential 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due		192
30–59 days | Loans Individually Evaluated | Residential 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	807	1,440
30–59 days | Loans Individually Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	99
30–59 days | Loans Individually Evaluated | Short Term 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	1,224
30–59 days | Loans Individually Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	404
30–59 days | Loans Individually Evaluated | Short Term 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	615	964
30–59 days | Loans Collectively Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	36,730
30–59 days | Loans Collectively Evaluated | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	128,510	90,277
30–59 days | Loans Collectively Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	2,209
30–59 days | Loans Collectively Evaluated | Commercial - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	17,319	8,000
30–59 days | Loans Collectively Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	8,309
30–59 days | Loans Collectively Evaluated | Commercial - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	31,769	33,725
30–59 days | Loans Collectively Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	315
30–59 days | Loans Collectively Evaluated | Residential 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	14,905	5,030
30–59 days | Loans Collectively Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	4,086
30–59 days | Loans Collectively Evaluated | Residential 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	39,045	33,144
30–59 days | Loans Collectively Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	20,869
30–59 days | Loans Collectively Evaluated | Short Term 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	21,412	1,972
30–59 days | Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	942
30–59 days | Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	4,060	8,406
60–89 days
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	13,042
60–89 days | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	43,877	78,820
60–89 days | Loans Individually Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	4,741
60–89 days | Loans Individually Evaluated | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	11,912	15,524
60–89 days | Loans Individually Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	1,622
60–89 days | Loans Individually Evaluated | Commercial - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	2,314	1,307
60–89 days | Loans Individually Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	2,820
60–89 days | Loans Individually Evaluated | Commercial - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	6,818	7,532
60–89 days | Loans Individually Evaluated | Residential 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	682	2,915
60–89 days | Loans Individually Evaluated | Residential 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	1,088	3,010
60–89 days | Loans Individually Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	299
60–89 days | Loans Individually Evaluated | Short Term 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	1,010	760
60–89 days | Loans Collectively Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	8,301
60–89 days | Loans Collectively Evaluated | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	31,965	63,296
60–89 days | Loans Collectively Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	1,158
60–89 days | Loans Collectively Evaluated | Commercial - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	4,034	7,081
60–89 days | Loans Collectively Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	2,444
60–89 days | Loans Collectively Evaluated | Commercial - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	7,025	13,224
60–89 days | Loans Collectively Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	231
60–89 days | Loans Collectively Evaluated | Residential 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	5,580	1,261
60–89 days | Loans Collectively Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	319
60–89 days | Loans Collectively Evaluated | Residential 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	9,548	14,567
60–89 days | Loans Collectively Evaluated | Short Term 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	217	21,780
60–89 days | Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	4,149
60–89 days | Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	5,561	5,383
90+days
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	54,507
90+days | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	256,531	317,016
90+days | Loans Individually Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	54,507
90+days | Loans Individually Evaluated | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	256,531	315,037
90+days | Loans Individually Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	4,259
90+days | Loans Individually Evaluated | Commercial - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	14,246	19,898
90+days | Loans Individually Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	18,520
90+days | Loans Individually Evaluated | Commercial - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	74,488	91,467
90+days | Loans Individually Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	3,045
90+days | Loans Individually Evaluated | Residential 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	16,703	23,266
90+days | Loans Individually Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	22,670
90+days | Loans Individually Evaluated | Residential 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	105,657	115,702
90+days | Loans Individually Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	180
90+days | Loans Individually Evaluated | Short Term 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	1,762	6,585
90+days | Loans Individually Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	5,833
90+days | Loans Individually Evaluated | Short Term 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	43,675	58,119
90+days | Loans Collectively Evaluated | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due		1,979
90+days | Loans Collectively Evaluated | Commercial - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due		1,747
90+days | Loans Collectively Evaluated | Residential 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due		109
90+days | Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due		123
Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	104,945
Past Due | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	436,728	491,788
Past Due | Loans Individually Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	59,914
Past Due | Loans Individually Evaluated | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	276,253	336,236
Past Due | Loans Individually Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	6,044
Past Due | Loans Individually Evaluated | Commercial - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	17,260	22,166
Past Due | Loans Individually Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	21,340
Past Due | Loans Individually Evaluated | Commercial - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	85,770	101,117
Past Due | Loans Individually Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	3,045
Past Due | Loans Individually Evaluated | Residential 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	17,385	26,373
Past Due | Loans Individually Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	22,670
Past Due | Loans Individually Evaluated | Residential 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	107,552	120,152
Past Due | Loans Individually Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	279
Past Due | Loans Individually Evaluated | Short Term 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	2,986	6,585
Past Due | Loans Individually Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	6,536
Past Due | Loans Individually Evaluated | Short Term 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	45,300	59,843
Past Due | Loans Collectively Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	45,031
Past Due | Loans Collectively Evaluated | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	160,475	155,552
Past Due | Loans Collectively Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	3,367
Past Due | Loans Collectively Evaluated | Commercial - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	21,353	15,081
Past Due | Loans Collectively Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	10,753
Past Due | Loans Collectively Evaluated | Commercial - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	38,794	48,696
Past Due | Loans Collectively Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	546
Past Due | Loans Collectively Evaluated | Residential 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	20,485	6,291
Past Due | Loans Collectively Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	4,405
Past Due | Loans Collectively Evaluated | Residential 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	48,593	47,820
Past Due | Loans Collectively Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	20,869
Past Due | Loans Collectively Evaluated | Short Term 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	21,629	23,752
Past Due | Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	5,091
Past Due | Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	9,621	13,912
Current
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	191,045
Current | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	2,095,098	1,462,146
Current | Loans Individually Evaluated | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	165
Current | Loans Individually Evaluated | Commercial - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	165
Current | Loans Collectively Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	191,045
Current | Loans Collectively Evaluated | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	2,094,933	1,462,146
Current | Loans Collectively Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	30,904
Current | Loans Collectively Evaluated | Commercial - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	470,808	263,657
Current | Loans Collectively Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	90,040
Current | Loans Collectively Evaluated | Commercial - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	658,532	535,285
Current | Loans Collectively Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	18,321
Current | Loans Collectively Evaluated | Residential 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	370,900	191,928
Current | Loans Collectively Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	48,314
Current | Loans Collectively Evaluated | Residential 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	574,175	398,953
Current | Loans Collectively Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	761
Current | Loans Collectively Evaluated | Short Term 1-4 Unit - Purchase | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	4,374	12,987
Current | Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	2,705
Current | Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance | Aging Status and Accrual Status
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	$ 16,144	$ 59,336

Loans Held for Investment an_12

Loans Held for Investment and Loans Held for Investment at Fair Value - Schedule of Aging Status of Amortized Cost Basis in Loans Held for Investment Portfolio (Parenthetical) (Details) $ in Millions	Dec. 31, 2021USD ($)
COVID19 Pandemic
Financing Receivable Recorded Investment Past Due [Line Items]
Loans Held For Investment On Amortized Cost Basis	$ 103.1

Loans Held for Investment an_13

Loans Held for Investment and Loans Held for Investment at Fair Value - Schedule of Amortized Cost in Loans Held for Investment based on Accrual Status and by Loan Origination Year (Details) - Accrual Status - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	$ 1,143,849	$ 304,381
Term Loans Amortized Cost Basis by Origination Year, 2020	214,490	684,385
Term Loans Amortized Cost Basis by Origination Year, 2019	500,689	456,169
Term Loans Amortized Cost Basis by Origination Year, 2018	326,082	258,503
Term Loans Amortized Cost Basis by Origination Year, 2017	171,370	95,295
Term Loans Amortized Cost Basis by Origination Year, Pre-2016	175,345	155,201
Total	2,531,825	1,953,934
Commercial - Purchase
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	277,906	57,492
Term Loans Amortized Cost Basis by Origination Year, 2020	47,617	104,200
Term Loans Amortized Cost Basis by Origination Year, 2019	87,082	70,505
Term Loans Amortized Cost Basis by Origination Year, 2018	50,817	42,044
Term Loans Amortized Cost Basis by Origination Year, 2017	27,703	11,039
Term Loans Amortized Cost Basis by Origination Year, Pre-2016	18,296	15,624
Total	509,421	300,904
Commercial - Purchase | Performing
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	277,618	56,446
Term Loans Amortized Cost Basis by Origination Year, 2020	45,836	99,534
Term Loans Amortized Cost Basis by Origination Year, 2019	81,541	64,706
Term Loans Amortized Cost Basis by Origination Year, 2018	46,637	34,862
Term Loans Amortized Cost Basis by Origination Year, 2017	24,164	9,500
Term Loans Amortized Cost Basis by Origination Year, Pre-2016	16,365	13,690
Total	492,161	278,738
Commercial - Purchase | Nonperforming
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	288	1,046
Term Loans Amortized Cost Basis by Origination Year, 2020	1,781	4,666
Term Loans Amortized Cost Basis by Origination Year, 2019	5,541	5,799
Term Loans Amortized Cost Basis by Origination Year, 2018	4,180	7,182
Term Loans Amortized Cost Basis by Origination Year, 2017	3,539	1,539
Term Loans Amortized Cost Basis by Origination Year, Pre-2016	1,931	1,934
Total	17,260	22,166
Commercial - Refinance
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	242,170	80,305
Term Loans Amortized Cost Basis by Origination Year, 2020	68,915	203,630
Term Loans Amortized Cost Basis by Origination Year, 2019	170,029	190,454
Term Loans Amortized Cost Basis by Origination Year, 2018	145,604	106,456
Term Loans Amortized Cost Basis by Origination Year, 2017	78,866	45,250
Term Loans Amortized Cost Basis by Origination Year, Pre-2016	77,676	59,003
Total	783,260	685,098
Commercial - Refinance | Performing
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	239,688	75,376
Term Loans Amortized Cost Basis by Origination Year, 2020	64,966	176,854
Term Loans Amortized Cost Basis by Origination Year, 2019	144,017	157,499
Term Loans Amortized Cost Basis by Origination Year, 2018	118,735	87,476
Term Loans Amortized Cost Basis by Origination Year, 2017	62,374	34,858
Term Loans Amortized Cost Basis by Origination Year, Pre-2016	67,545	51,918
Total	697,325	583,981
Commercial - Refinance | Nonperforming
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	2,482	4,929
Term Loans Amortized Cost Basis by Origination Year, 2020	3,949	26,776
Term Loans Amortized Cost Basis by Origination Year, 2019	26,012	32,955
Term Loans Amortized Cost Basis by Origination Year, 2018	26,869	18,980
Term Loans Amortized Cost Basis by Origination Year, 2017	16,492	10,392
Term Loans Amortized Cost Basis by Origination Year, Pre-2016	10,131	7,085
Total	85,935	101,117
Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	264,552	27,826
Term Loans Amortized Cost Basis by Origination Year, 2020	15,627	75,748
Term Loans Amortized Cost Basis by Origination Year, 2019	52,826	51,486
Term Loans Amortized Cost Basis by Origination Year, 2018	33,280	30,933
Term Loans Amortized Cost Basis by Origination Year, 2017	16,350	8,404
Term Loans Amortized Cost Basis by Origination Year, Pre-2016	26,135	30,195
Total	408,770	224,592
Residential 1-4 Unit - Purchase | Performing
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	263,180	26,215
Term Loans Amortized Cost Basis by Origination Year, 2020	12,878	69,775
Term Loans Amortized Cost Basis by Origination Year, 2019	48,930	42,537
Term Loans Amortized Cost Basis by Origination Year, 2018	29,544	25,874
Term Loans Amortized Cost Basis by Origination Year, 2017	12,863	7,056
Term Loans Amortized Cost Basis by Origination Year, Pre-2016	23,990	26,762
Total	391,385	198,219
Residential 1-4 Unit - Purchase | Nonperforming
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	1,372	1,611
Term Loans Amortized Cost Basis by Origination Year, 2020	2,749	5,973
Term Loans Amortized Cost Basis by Origination Year, 2019	3,896	8,949
Term Loans Amortized Cost Basis by Origination Year, 2018	3,736	5,059
Term Loans Amortized Cost Basis by Origination Year, 2017	3,487	1,348
Term Loans Amortized Cost Basis by Origination Year, Pre-2016	2,145	3,433
Total	17,385	26,373
Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	354,845	61,879
Term Loans Amortized Cost Basis by Origination Year, 2020	37,374	211,071
Term Loans Amortized Cost Basis by Origination Year, 2019	145,961	134,019
Term Loans Amortized Cost Basis by Origination Year, 2018	90,451	78,975
Term Loans Amortized Cost Basis by Origination Year, 2017	48,451	30,602
Term Loans Amortized Cost Basis by Origination Year, Pre-2016	53,238	50,379
Total	730,320	566,925
Residential 1-4 Unit - Refinance | Performing
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	343,199	57,945
Term Loans Amortized Cost Basis by Origination Year, 2020	31,334	168,912
Term Loans Amortized Cost Basis by Origination Year, 2019	114,145	96,568
Term Loans Amortized Cost Basis by Origination Year, 2018	59,825	61,033
Term Loans Amortized Cost Basis by Origination Year, 2017	31,774	22,949
Term Loans Amortized Cost Basis by Origination Year, Pre-2016	42,491	39,366
Total	622,768	446,773
Residential 1-4 Unit - Refinance | Nonperforming
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	11,646	3,934
Term Loans Amortized Cost Basis by Origination Year, 2020	6,040	42,159
Term Loans Amortized Cost Basis by Origination Year, 2019	31,816	37,451
Term Loans Amortized Cost Basis by Origination Year, 2018	30,626	17,942
Term Loans Amortized Cost Basis by Origination Year, 2017	16,677	7,653
Term Loans Amortized Cost Basis by Origination Year, Pre-2016	10,747	11,013
Total	107,552	120,152
Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	1,890	24,327
Term Loans Amortized Cost Basis by Origination Year, 2020	17,147	18,207
Term Loans Amortized Cost Basis by Origination Year, 2019	9,847	790
Term Loans Amortized Cost Basis by Origination Year, 2018	105
Total	28,989	43,324
Short Term 1-4 Unit - Purchase | Performing
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	1,890	20,563
Term Loans Amortized Cost Basis by Origination Year, 2020	15,582	15,990
Term Loans Amortized Cost Basis by Origination Year, 2019	8,531	186
Total	26,003	36,739
Short Term 1-4 Unit - Purchase | Nonperforming
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021		3,764
Term Loans Amortized Cost Basis by Origination Year, 2020	1,565	2,217
Term Loans Amortized Cost Basis by Origination Year, 2019	1,316	604
Term Loans Amortized Cost Basis by Origination Year, 2018	105
Total	2,986	6,585
Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	2,486	52,552
Term Loans Amortized Cost Basis by Origination Year, 2020	27,810	71,529
Term Loans Amortized Cost Basis by Origination Year, 2019	34,944	8,915
Term Loans Amortized Cost Basis by Origination Year, 2018	5,825	95
Total	71,065	133,091
Short Term 1-4 Unit - Refinance | Performing
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	1,448	35,234
Term Loans Amortized Cost Basis by Origination Year, 2020	11,991	37,818
Term Loans Amortized Cost Basis by Origination Year, 2019	12,326	196
Total	25,765	73,248
Short Term 1-4 Unit - Refinance | Nonperforming
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	1,038	17,318
Term Loans Amortized Cost Basis by Origination Year, 2020	15,819	33,711
Term Loans Amortized Cost Basis by Origination Year, 2019	22,618	8,719
Term Loans Amortized Cost Basis by Origination Year, 2018	5,825	95
Total	$ 45,300	$ 59,843

Mortgage Loans on Real Estate -

Mortgage Loans on Real Estate - Schedule of Loans (UPB) Collateralized by Real Estate (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Residential Real Estate
Debt Instrument [Line Items]
Unpaid Principal Balance	[1],[2],[3]	$ 1,312,094	$ 963,078
Nonaccrual Unpaid Principal Balance	[3]	$ 171,640	$ 211,271
Residential Real Estate | Less Than One Million
Debt Instrument [Line Items]
Final Maturity Date	[3]	Jan. 1, 2052	Jan. 1, 2051
Unpaid Principal Balance	[1],[2],[3]	$ 987,069	$ 803,663
Nonaccrual Unpaid Principal Balance	[3]	$ 127,214	$ 161,225
Residential Real Estate | Less Than One Million | Minimum
Debt Instrument [Line Items]
Interest Rate	[3]	4.00%	5.20%
Residential Real Estate | Less Than One Million | Maximum
Debt Instrument [Line Items]
Interest Rate	[3]	13.50%	13.50%
Residential Real Estate | One Million And More
Debt Instrument [Line Items]
Final Maturity Date	[3]	Jan. 1, 2052	Jan. 1, 2051
Unpaid Principal Balance	[1],[2],[3]	$ 325,025	$ 159,415
Nonaccrual Unpaid Principal Balance	[3]	$ 44,426	$ 50,046
Residential Real Estate | One Million And More | Minimum
Debt Instrument [Line Items]
Interest Rate	[3]	4.00%	6.00%
Residential Real Estate | One Million And More | Maximum
Debt Instrument [Line Items]
Interest Rate	[3]	11.50%	11.50%
Commercial Real Estate
Debt Instrument [Line Items]
Unpaid Principal Balance	[1],[2],[4]	$ 1,275,127	$ 981,726
Nonaccrual Unpaid Principal Balance	[4]	$ 101,460	$ 121,542
Commercial Real Estate | Less Than One Million
Debt Instrument [Line Items]
Final Maturity Date	[4]	Jan. 1, 2052	Jan. 1, 2051
Unpaid Principal Balance	[1],[2],[4]	$ 969,599	$ 792,577
Nonaccrual Unpaid Principal Balance	[4]	$ 73,039	$ 88,644
Commercial Real Estate | Less Than One Million | Minimum
Debt Instrument [Line Items]
Interest Rate	[4]	3.10%	3.50%
Commercial Real Estate | Less Than One Million | Maximum
Debt Instrument [Line Items]
Interest Rate	[4]	13.00%	13.00%
Commercial Real Estate | One Million And More
Debt Instrument [Line Items]
Final Maturity Date	[4]	Jan. 1, 2052	Jan. 1, 2051
Unpaid Principal Balance	[1],[2],[4]	$ 305,528	$ 189,149
Nonaccrual Unpaid Principal Balance	[4]	$ 28,421	$ 32,898
Commercial Real Estate | One Million And More | Minimum
Debt Instrument [Line Items]
Interest Rate	[4]	4.00%	6.00%
Commercial Real Estate | One Million And More | Maximum
Debt Instrument [Line Items]
Interest Rate	[4]	10.20%	10.50%
Real Estate
Debt Instrument [Line Items]
Unpaid Principal Balance	[1],[2]	$ 2,587,221	$ 1,944,804
Nonaccrual Unpaid Principal Balance		$ 273,100	$ 332,813
[1]	As of December 31, 2021 and 2020, $ 155.1 million and $ 178.0 million, respectively, of the total UPB were interest-only loans with interest payable monthly and the principal payable at maturity.
[2]	The aggregate cost of the Company’s loan portfolio for Federal income tax purposes was $ 2,621,093 and $ 1,968,579 as of December 31, 2021 and 2020, respectively.
[3]	The principal and interest on the 1-4 unit residential mortgage loans is payable monthly at a level amount over the life of the loan to maturity. These loans generally contain a 3 % prepayment penalty provision if the loan is prepaid within the first 3 years.
[4]	The principal and interest on the traditional commercial mortgage loans is payable monthly at a level amount over the life of the loan to maturity. These loans generally contain a 5 % prepayment penalty provision if the loan is prepaid within the first 3 years.

Mortgage Loans on Real Estate_2

Mortgage Loans on Real Estate - Loans (UPB) Collateralized by Real Estate - Additional Informaiton (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Aggregate Cost of Mortgage loans, Federal Income tax	$ 2,621,093	$ 1,968,579
Interest Expense, Debt	$ 155,100	$ 178,000
Residential Real Estate
Debt Instrument [Line Items]
Provision for prepayment penalty rate	3.00%
Commercial Real Estate
Debt Instrument [Line Items]
Provision for prepayment penalty rate	5.00%

Mortgage Loans on Real Estate_3

Mortgage Loans on Real Estate - Schedule of Reconciliation of the UPB Mortgage Loans (Details) - UPB - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Balance at beginning of period	$ 1,944,804	$ 2,059,344	$ 1,631,326
New mortgage loans	1,326,275	435,037	1,012,068
Acquisition	22,437	4,643	21,759
Capitalized Interest	(2,045)	7,814
Collection of principal	(568,081)	(374,576)	(404,757)
Collection of capitalized interest	(2,163)
Foreclosures	(11,603)	(10,781)	(10,442)
Mortgages sold	(126,494)	(176,677)	(190,610)
Balance at end of period	$ 2,587,220	$ 1,944,804	$ 2,059,344

Receivables Due From Servicer_2

Receivables Due From Servicers - Summary of Receivables Due From Servicers (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Loan principal payments due from servicers	$ 43,509
Other loan servicing receivables	11,448
Loan servicing receivables	54,957
Corporate and escrow advances receivable	19,373
Total receivables due from servicers	74,330	$ 71,044
Securitizations
Related Party Transaction [Line Items]
Loan principal payments due from servicers	42,344
Other loan servicing receivables	10,718
Loan servicing receivables	53,062
Corporate and escrow advances receivable	17,884
Total receivables due from servicers	70,946
Warehouse and Repurchase Facilities and Other
Related Party Transaction [Line Items]
Loan principal payments due from servicers	1,165
Other loan servicing receivables	730
Loan servicing receivables	1,895
Corporate and escrow advances receivable	1,489
Total receivables due from servicers	$ 3,384

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 11,282	$ 10,496
Accumulated depreciation and amortization	(7,452)	(6,351)
Property, Plant and Equipment, Net	3,830	4,145
Furniture
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	885	885
Computer equipment
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	1,222	1,161
Office equipment
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	278	275
Leasehold improvements
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	578	578
Capitalized software
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	7,634	$ 7,597
Building
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 685

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Depreciation and amortization expense	$ 1,119	$ 1,219	$ 1,414
Accumulated depreciation and amortization	7,452	6,351
Data Warehouse and Loan Origination Systems (LOS)
Property Plant And Equipment [Line Items]
Total capitalized costs	5,700	5,700
Accumulated depreciation and amortization	3,700	$ 3,000
Capitalized software
Property Plant And Equipment [Line Items]
Estimated amortization expense, 2022	400
Estimated amortization expense, 2023	400
Estimated amortization expense, 2024	400
Estimated amortization expense, 2025	400
Estimated amortization expense, 2026	$ 400

Real Estate Owned, Net - Summar

Real Estate Owned, Net - Summary of Activity in Real Estate Owned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Real Estate [Roll Forward]
Beginning balance	$ 15,767	$ 13,068
Additions	12,583	10,412
Capitalized improvements	194	846
Sales	(9,228)	(6,825)
Valuation adjustments	(1,759)	(1,734)	$ (1,631)
Ending balance	$ 17,557	$ 15,767	$ 13,068

Real Estate Owned, Net - Sale o

Real Estate Owned, Net - Sale of Real Estate Owned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Real Estate Owned Disclosure Of Detailed Components [Abstract]
Operating income	$ 451	$ 444	$ 242
Operating expenses	(2,251)	(2,010)	(1,465)
Valuation adjustments	(1,759)	(1,734)	(1,631)
Net gain on sales of real estate	409	644	207
Total	$ (3,150)	$ (2,656)	$ (2,647)

Real Estate Owned, Net - Gross

Real Estate Owned, Net - Gross Gains and Losses And Number of Properties Sold (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)Property	Dec. 31, 2020USD ($)Property	Dec. 31, 2019USD ($)Property
Real Estate Owned Disclosure Of Detailed Components [Abstract]
Sales resulting in gains, properties sold | Property	23	14	10
Sales resulting in losses, properties sold | Property	14	9	5
Total, properties sold | Property	37	23	15
Sales resulting in gains | $	$ 972	$ 837	$ 320
Sales resulting in losses | $	(563)	(193)	(113)
Total | $	$ 409	$ 644	$ 207

Mortgage Servicing Rights - Add

Mortgage Servicing Rights - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Transfers And Servicing [Abstract]
Unpaid principal balance of mortgage loans serviced for others, amount	$ 520.6
Fair value of servicing rights, weighted average discount rate	8.00%
Fair value of servicing rights, weighted average constant prepayment rate	3.20%

Mortgage Servicing Rights - Sum

Mortgage Servicing Rights - Summary of Mortgage Servicing Rights (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Transfers And Servicing [Abstract]
Mortgage servicing rights acquired	$ 7,152
Balance at end of year	$ 7,152

Business Combination - Addition

Business Combination - Additional Information (Details) - Century $ in Millions	Dec. 28, 2021USD ($)
Business Acquisition [Line Items]
Payments to acquire businesses	$ 12.8
Percentage of voting interests acquired	80.00%
Direct costs related to acquisition	$ 0.8

Business Combination - Summary

Business Combination - Summary of Fair Value of Assets Received and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 28, 2021
Liabilities
Goodwill	$ 6,775
Century
Assets
Cash		$ 2,045
Investment securities		1,181
Mortgage servicing rights		7,152
Premises and equipment, net		688
Other receivables		154
Total assets acquired		11,220
Liabilities
Accrued payables		1,814
Total liabilities assumed		1,814
Noncontrolling interest		3,381
Net assets acquired		6,025
Total cash consideration		12,800
Goodwill		6,775
Century | As Reported by Century
Assets
Cash		2,045
Investment securities		1,181
Premises and equipment, net		315
Other receivables		154
Total assets acquired		3,695
Liabilities
Accrued payables		314
Total liabilities assumed		314
Noncontrolling interest		3,381
Century | Fair Value Adjustments
Assets
Mortgage servicing rights		7,152
Premises and equipment, net		373
Total assets acquired		7,525
Liabilities
Accrued payables		1,500
Total liabilities assumed		$ 1,500

Goodwill - Additional Informati

Goodwill - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of goodwill	$ 0

Goodwill - Schedule of Goodwill

Goodwill - Schedule of Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Goodwill [Line Items]
Goodwill acquired	$ 6,775
Balance at end of year	$ 6,775

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Assets [Abstract]
Prepaid expenses	$ 1,628	$ 1,261
Interest-only strips and deposits	166	642
Deferred costs	502
Operating leases - right of use assets, net	3,744	4,780
Appraisal fees for loans in process	479	96
Other assets	305
Total other assets	$ 6,824	$ 6,779

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Lessee Lease Description [Line Items]
Weighted average borrowing rate	5.86%	6.01%
Operating lease weighted average remaining lease term	2 years 4 months 24 days
Operating leases - right of use assets, net	$ 3,744	$ 4,780
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets	Other Assets
Operating lease rent expense	$ 1,800	$ 1,500
Operating Lease Liability Statement Of Financial Position [Extensible List]	Other Liabilities	Other Liabilities
Operating lease liabilities	$ 4,048
Other Liabilities
Lessee Lease Description [Line Items]
Operating lease liabilities	$ 4,000	$ 5,100
Minimum
Lessee Lease Description [Line Items]
Operating lease remaining lease term	2 years
Maximum
Lessee Lease Description [Line Items]
Operating lease remaining lease term	5 years

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 1,626	$ 1,524
ROU assets obtained in exchange for lease obligations:
Operating leases	$ 256

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2021USD ($)
Leases [Abstract]
2022	$ 1,615
2023	1,460
2024	1,153
2025	113
2026	48
Total lease payments	4,389
Less: Imputed interest	(341)
Operating lease liabilities	$ 4,048

Securitizations, Net - Addition

Securitizations, Net - Additional Information (Details) $ in Billions	12 Months Ended
	Dec. 31, 2021USD ($)Securities
Securitization Financial Asset For Which Transfer Is Accounted As Sale [Line Items]
Number of securitizations | Securities	19
Securitization loans	$ 4.4
Issuing of securities to third parties	$ 4
Minimum
Securitization Financial Asset For Which Transfer Is Accounted As Sale [Line Items]
Securities redemption when principal balance is less than a certain percentage	5.00%
Maximum
Securitization Financial Asset For Which Transfer Is Accounted As Sale [Line Items]
Securities redemption when principal balance is less than a certain percentage	30.00%

Securitizations, Net - Summary

Securitizations, Net - Summary of Investor Real Estate Loans Securitized, and Securities Issued, Ownership Retained by the Company (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Securities issued	$ 3,966,492
Securities retained as of issuance date	366,623
Securities retained	206,515	$ 228,031
2014-1 Trust
Debt Instrument [Line Items]
Securities issued	161,076
Securities retained as of issuance date	$ 30,682
Stated maturity date	2044-09
2015-1 Trust
Debt Instrument [Line Items]
Securities issued	$ 285,457
Securities retained as of issuance date	27,372
Securities retained	$ 15,526	15,522
Stated maturity date	2045-07
2016-1 Trust
Debt Instrument [Line Items]
Securities issued	$ 319,809
Securities retained as of issuance date	38,792
Securities retained	$ 17,633	17,931
Stated maturity date	2046-04
2016-2 Trust
Debt Instrument [Line Items]
Securities issued	$ 166,853
Securities retained as of issuance date	$ 23,402
Securities retained		9,514
Stated maturity date	2046-10
2017-1 Trust
Debt Instrument [Line Items]
Securities issued	$ 211,910
Securities retained as of issuance date	$ 11,154
Securities retained		11,154
Stated maturity date	2047-04
2017-2 Trust
Debt Instrument [Line Items]
Securities issued	$ 245,601
Securities retained as of issuance date	12,927
Securities retained	$ 4,064	6,232
Stated maturity date	2047-10
2018-1 Trust
Debt Instrument [Line Items]
Securities issued	$ 176,816
Securities retained as of issuance date	9,308
Securities retained	$ 2,849	6,015
Stated maturity date	2048-04
2018-2 Trust
Debt Instrument [Line Items]
Securities issued	$ 307,988
Securities retained as of issuance date	16,210
Securities retained	$ 6,608	9,762
Stated maturity date	2048-10
2019-1 Trust
Debt Instrument [Line Items]
Securities issued	$ 235,580
Securities retained as of issuance date	12,399
Securities retained	$ 6,180	11,540
Stated maturity date	2049-03
2019-2 Trust
Debt Instrument [Line Items]
Securities issued	$ 207,020
Securities retained as of issuance date	10,901
Securities retained	$ 5,922	9,728
Stated maturity date	2049-07
2019-3 Trust
Debt Instrument [Line Items]
Securities issued	$ 154,419
Securities retained as of issuance date	8,127
Securities retained	$ 4,799	6,441
Stated maturity date	2049-10
2020-1 Trust
Debt Instrument [Line Items]
Securities issued	$ 248,700
Securities retained as of issuance date	13,159
Securities retained	$ 8,678	13,085
Stated maturity date	2050-02
2020-2 Trust
Debt Instrument [Line Items]
Securities issued	$ 96,352
Securities retained as of issuance date	32,118
Securities retained	$ 12,847	12,847
Stated maturity date	2050-06
2020-MC1 Trust
Debt Instrument [Line Items]
Securities issued	$ 179,371
Securities retained as of issuance date	96,585
Securities retained	$ 108,891	$ 98,260
Stated maturity date	2050-07
2021-1 Trust
Debt Instrument [Line Items]
Securities issued	$ 251,301
Securities retained as of issuance date	13,227
Securities retained	$ 12,518
Stated maturity date	2051-05
2021-2 Trust
Debt Instrument [Line Items]
Securities issued	$ 194,918
Securities retained as of issuance date	$ 10,260
Stated maturity date	2051-08
2021-3 Trust
Debt Instrument [Line Items]
Securities issued	$ 204,205
Stated maturity date	2051-10
2021-4 Trust
Debt Instrument [Line Items]
Securities issued	$ 319,116
Stated maturity date	2051-12

Securitizations, Net - Summar_2

Securitizations, Net - Summary of Outstanding Bond Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Outstanding bond balance	$ 1,939,146	$ 1,602,918
2014-1 Trust
Debt Instrument [Line Items]
Outstanding bond balance		23,391
2015-1 Trust
Debt Instrument [Line Items]
Outstanding bond balance	17,536	36,966
2016-1 Trust
Debt Instrument [Line Items]
Outstanding bond balance	36,401	57,963
2016-2 Trust
Debt Instrument [Line Items]
Outstanding bond balance		45,195
2017-1 Trust
Debt Instrument [Line Items]
Outstanding bond balance		72,910
2017-2 Trust
Debt Instrument [Line Items]
Outstanding bond balance	86,497	129,478
2018-1 Trust
Debt Instrument [Line Items]
Outstanding bond balance	62,375	102,063
2018-2 Trust
Debt Instrument [Line Items]
Outstanding bond balance	143,152	200,451
2019-1 Trust
Debt Instrument [Line Items]
Outstanding bond balance	132,306	181,579
2019-2 Trust
Debt Instrument [Line Items]
Outstanding bond balance	122,205	158,199
2019-3 Trust
Debt Instrument [Line Items]
Outstanding bond balance	95,521	127,045
2020-1 Trust
Debt Instrument [Line Items]
Outstanding bond balance	174,550	220,052
2020-2 Trust
Debt Instrument [Line Items]
Outstanding bond balance	80,676	109,832
2020-MC1 Trust
Debt Instrument [Line Items]
Outstanding bond balance	35,711	$ 137,794
2021-1 Trust
Debt Instrument [Line Items]
Outstanding bond balance	236,190
2021-2 Trust
Debt Instrument [Line Items]
Outstanding bond balance	197,744
2021-3 Trust
Debt Instrument [Line Items]
Outstanding bond balance	202,793
2021-4 Trust
Debt Instrument [Line Items]
Outstanding bond balance	$ 315,489

Securitizations, Net - Summar_3

Securitizations, Net - Summary of Unamortized Discounts or Premiums (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
2014-1 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums		$ 85
2015-1 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums	$ 35	64
2016-1 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums	84	259
2016-2 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums		(5)
2017-1 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums		1,345
2017-2 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums	12	18
2018-1 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums	10	19
2018-2 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums	16	23
2019-1 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums	19	26
2019-2 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums	10	14
2019-3 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums	7	10
2020-1 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums	5	7
2020-2 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums	1,692	2,934
2020-MC1 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums	385	$ 2,219
2021-Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums	21
2021-2 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums	214
2021-3 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums	925
2021-4 Trust
Debt Instrument [Line Items]
Unamortized discounts or premiums	$ 838

Securitizations, Net - Summar_4

Securitizations, Net - Summary of Capitalized Issuance Costs Associated with Trusts (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
2014-1 Trust
Debt Instrument [Line Items]
Capitalized issuance costs		$ 14
2015-1 Trust
Debt Instrument [Line Items]
Capitalized issuance costs	$ 32	272
2016-1 Trust
Debt Instrument [Line Items]
Capitalized issuance costs	52	151
2016-2 Trust
Debt Instrument [Line Items]
Capitalized issuance costs		113
2017-1 Trust
Debt Instrument [Line Items]
Capitalized issuance costs		369
2017-2 Trust
Debt Instrument [Line Items]
Capitalized issuance costs	808	1,343
2018-1 Trust
Debt Instrument [Line Items]
Capitalized issuance costs	561	1,008
2018-2 Trust
Debt Instrument [Line Items]
Capitalized issuance costs	1,371	1,937
2019-1 Trust
Debt Instrument [Line Items]
Capitalized issuance costs	1,385	1,918
2019-2 Trust
Debt Instrument [Line Items]
Capitalized issuance costs	1,325	1,890
2019-3 Trust
Debt Instrument [Line Items]
Capitalized issuance costs	1,042	1,552
2020-1 Trust
Debt Instrument [Line Items]
Capitalized issuance costs	2,032	2,636
2020-2 Trust
Debt Instrument [Line Items]
Capitalized issuance costs	847	1,489
2020-MC1 Trust
Debt Instrument [Line Items]
Capitalized issuance costs	380	$ 2,190
2021-1 Trust
Debt Instrument [Line Items]
Capitalized issuance costs	2,897
2021-2 Trust
Debt Instrument [Line Items]
Capitalized issuance costs	2,757
2021-3 Trust
Debt Instrument [Line Items]
Capitalized issuance costs	3,055
2021-4 Trust
Debt Instrument [Line Items]
Capitalized issuance costs	$ 4,449

Securitizations, Net - Summar_5

Securitizations, Net - Summary of Weighted Average Rate on the Securities and Certificates (Details)	Dec. 31, 2021	Dec. 31, 2020
2014-1 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	8.86%	7.46%
2015-1 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	7.22%	7.20%
2016-1 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	8.22%	7.78%
2016-2 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	7.92%	6.63%
2017-1 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	7.16%	5.31%
2017-2 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	3.37%	3.42%
2018-1 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	4.04%	4.04%
2018-2 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	4.39%	4.48%
2019-1 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	4.02%	4.01%
2019-2 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	3.44%	3.48%
2019-3 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	3.26%	3.26%
2020-1 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	2.82%	2.83%
2020-2 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	4.45%	4.55%
2020-MC1 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	4.42%	4.50%
2021-1 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	1.73%
2021-2 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	2.28%
2021-3 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	2.45%
2021-4 Trust
Debt Instrument [Line Items]
Weighted average rate on the securities and certificates	3.11%

Other Debt - Additional Informa

Other Debt - Additional Information (Details) - USD ($)	Apr. 16, 2021	Feb. 05, 2021	Jan. 29, 2021	Dec. 26, 2019	Sep. 12, 2018	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Lines of credit fund maximum percentage of principle balance of mortgage loans						100.00%
Line of credit, maximum capacity						$ 653,000,000	$ 103,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term					3 years
Debt instrument, description						one-month LIBOR
Agreement entered date						Sep. 12, 2018
Debt instrument, maturity date						Nov. 10, 2023
Line of credit, maximum capacity					$ 50,000,000
Debt Instrument, effective interest rate						7.30%
LIBOR | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, floor rate						0.75%
Debt instrument, spread rate						3.50%
2019 Term Loan | Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount				$ 3,000,000
Agreement entered date				Dec. 26, 2019
Debt instrument, maturity date				Jun. 1, 2022
Debt Instrument, effective interest rate						10.50%
Debt instrument, fixed interest rate				9.50%
2021 Term Loan
Debt Instrument [Line Items]
Debt issuance costs, net						$ 8,000,000	3,000,000
Corporate Debt Agreement
Debt Instrument [Line Items]
Term loans, balance							78,000,000
Corporate Debt Agreement | 2021 Term Loan
Debt Instrument [Line Items]
Debt instrument, term		5 years
Debt instrument, face amount		$ 175,000,000
Debt instrument, description						one-month LIBOR
Term loans, balance						$ 170,800,000
Debt instrument, maturity date		Feb. 4, 2026
Corporate Debt Agreement | 2021 Term Loan | First year
Debt Instrument [Line Items]
Term loan amortization, annual rate						2.50%
Corporate Debt Agreement | 2021 Term Loan | Per Year Thereafter
Debt Instrument [Line Items]
Term loan amortization, annual rate						5.00%
Corporate Debt Agreement | 2021 Term Loan | LIBOR
Debt Instrument [Line Items]
Debt instrument, floor rate		1.00%
Debt instrument, spread rate		8.00%
2013 Repurchase Agreement | Secured Debt
Debt Instrument [Line Items]
Debt instrument, description						one-month LIBOR
Debt instrument, spread rate						3.25%
Agreement entered date						May 17, 2013
Debt instrument, maturity date						Sep. 29, 2023
Line of credit, maximum capacity						$ 200,000,000	$ 100,000,000
Debt Instrument, effective interest rate						4.20%	4.30%
2021 Repurchase Agreement | Secured Debt
Debt Instrument [Line Items]
Debt instrument, description	one-month LIBOR		one-month LIBOR
Agreement entered date	Apr. 16, 2021		Jan. 29, 2021
Debt instrument, maturity date	Apr. 16, 2024		Feb. 28, 2023
Line of credit, maximum capacity	$ 100,000,000		$ 200,000,000			$ 200,000,000
Debt Instrument, effective interest rate						5.90%
Outstanding balance						$ 0
2021 Repurchase Agreement | Minimum | Secured Debt
Debt Instrument [Line Items]
Debt instrument, spread rate	3.00%		3.50%
2021 Repurchase Agreement | Maximum | Secured Debt
Debt Instrument [Line Items]
Debt instrument, spread rate			4.50%
July 2021 Term Repurchase Agreement
Debt Instrument [Line Items]
Debt instrument, description						one-month LIBOR
Agreement entered date						Jul. 29, 2021
Debt instrument, maturity date						Jul. 29, 2024
Debt Instrument, effective interest rate						3.50%
Line of credit facility, description						The July 2021 Term Repurchase Agreement has a maturity date of July 29, 2024, with an option to extend the term to July 29, 2025.
Interest rate description						Each loan advance bears interest at one-month LIBOR with a 0.5% floor plus 4.5% per annum. The maximum capacity under this facility is $100.0 million.
July 2021 Term Repurchase Agreement | Secured Debt
Debt Instrument [Line Items]
Line of credit, maximum capacity						$ 100,000,000
July 2021 Term Repurchase Agreement | LIBOR | Secured Debt
Debt Instrument [Line Items]
Debt instrument, floor rate						4.50%
Debt instrument, spread rate						0.50%

Other Debt - Summary of Maximum

Other Debt - Summary of Maximum Borrowing Capacity and Current Gross Balances Outstanding (Details) - USD ($)	Dec. 31, 2021	Apr. 16, 2021	Jan. 29, 2021	Dec. 31, 2020	Sep. 12, 2018
Debt Instrument [Line Items]
Period end balance	$ 302,800,000			$ 76,202,000
Maximum borrowing capacity	653,000,000			103,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 50,000,000
2021 Term Repurchase Agreement | Secured Debt
Debt Instrument [Line Items]
Period end balance	41,636,000
Maximum borrowing capacity	100,000,000
2021 Repurchase Agreement | Secured Debt
Debt Instrument [Line Items]
Period end balance	82,580,000
Maximum borrowing capacity	200,000,000	$ 100,000,000	$ 200,000,000
July 2021 Term Repurchase Agreement | Secured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity	100,000,000
2013 Repurchase Agreement | Secured Debt
Debt Instrument [Line Items]
Period end balance	153,499,000			73,502,000
Maximum borrowing capacity	200,000,000			100,000,000
Bank Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Period end balance	22,385,000
Maximum borrowing capacity	50,000,000
2019 Term Loan | Secured Debt
Debt Instrument [Line Items]
Period end balance	2,700,000			2,700,000
Maximum borrowing capacity	$ 3,000,000			$ 3,000,000

Other Debt - Summary of Maxim_2

Other Debt - Summary of Maximum Borrowing Capacity and Current Gross Balances Outstanding (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Warehouse Repurchase Facilities
Debt Instrument [Line Items]
Debt issuance costs, net	$ 1.7	$ 0.3

Other Debt - Schedule of Activi

Other Debt - Schedule of Activity and Effective Interest Rate (Details) - Warehouse and Repurchase Facilities - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Average outstanding balance	$ 183,663	$ 168,098
Highest outstanding balance at any month-end	$ 336,775	$ 439,547
Effective interest rate	5.28%	4.97%

Other Debt - Schedule of Acti_2

Other Debt - Schedule of Activity and Effective Interest Rate (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt Instrument, average rate	4.23%	4.31%
Debt issue cost amortization percentage	1.05%	0.66%

Other Debt - Summary of Interes

Other Debt - Summary of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Interest expense — portfolio related	$ 23,666	$ 20,321	$ 20,566	$ 20,832	$ 21,442	$ 22,347	$ 21,189	$ 22,848	$ 85,386	$ 87,826	$ 83,903
Interest expense — corporate debt	$ 4,462	$ 4,488	$ 4,309	$ 7,350	$ 1,900	$ 1,913	$ 1,894	$ 6,342	20,609	12,049	$ 14,618
Total interest expense									105,995	99,875
Warehouse and Repurchase Facilities
Debt Instrument [Line Items]
Interest expense — portfolio related									9,706	8,352
Securitizations
Debt Instrument [Line Items]
Interest expense — portfolio related									$ 75,680	$ 79,474

Other Debt - Summary of Inter_2

Other Debt - Summary of Interest Expense (Parenthetical) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended								12 Months Ended
	Jan. 31, 2020	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Interest expense — corporate debt		$ 4,462	$ 4,488	$ 4,309	$ 7,350	$ 1,900	$ 1,913	$ 1,894	$ 6,342	$ 20,609	$ 12,049	$ 14,618
Repayment of outstanding principal amount										$ 82,156	75,000	$ 127,594
Corporate Debt Agreement | Owl Rock Capital Corporation | 2019 Term Loan
Debt Instrument [Line Items]
Interest expense — corporate debt											12,100
Write off of debt issuance cost											3,500
Prepayment penalties											$ 300
Repayment of outstanding principal amount	$ 75,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2018
Income Tax Disclosure [Abstract]
Income tax examination, increase (decrease) in liability from prior year				$ 5,500,000
Valuation allowance	$ 0	$ 0
Gross unrecognized tax benefits	1,911,000	1,860,000	$ 3,559,000
Unrecognized tax benefits that would impact effective tax rate	1,500,000
Accrued interest and penalties	100,000	500,000
Interest and penalties	$ 600,000	$ (500,000)

Income Taxes - Summary of Compa

Income Taxes - Summary of Company's Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current tax expense:
Federal									$ 15,042	$ 4,454
State									5,477	(769)
Total current tax expense									20,519	3,685
Deferred tax expense (benefit):
Federal									(7,362)	564
State									(2,588)	1,103
Total deferred tax expense (benefit)									(9,950)	1,667	$ (7,763)
Total income tax expense	$ 3,024	$ 2,905	$ 3,432	$ 1,208	$ 2,177	$ 1,544	$ 484	$ 1,148	$ 10,569	$ 5,352	$ 8,106

Income Taxes - Summary of Com_2

Income Taxes - Summary of Company's Reconciliation of the Company's Provision for Income Taxes at Federal Statutory Tax Rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Federal income tax provision at statutory rate	21.00%	21.00%
State income taxes, net of federal tax benefit	5.60%	8.60%
Permanent items	0.10%	0.10%
Federal true-ups		0.50%
Tax credits	(0.20%)	(0.40%)
Change in unrecognized tax benefit		(7.90%)
Other	0.10%	1.20%
Effective tax rate	26.60%	23.10%

Income Taxes - Summary of Tax E

Income Taxes - Summary of Tax Effects of Temporary Differences That Give Rise to Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
REMIC book-tax basis difference	$ 10,433	$ 5,363
Mark-to-market on loans	7,066	3,052
Lease liability	1,151	1,462
Stock compensation	888	275
Accrued vacation	226	183
Intangibles	7	10
REO	225
Other	82	83
Gross deferred tax assets	20,078	10,428
Deferred tax liabilities:
Right-of-use assets	(1,064)	(1,363)
Deferred origination costs	(1,306)	(1,014)
Fixed assets	(710)	(975)
Deferred state taxes	(394)	(341)
REO		(81)
Gross deferred tax liabilities	(3,474)	(3,774)
Total net deferred tax asset	$ 16,604	$ 6,654

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of the Company's Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Beginning balance	$ 1,860	$ 3,559
Changes related to current year tax positions	49	46
Changes related to prior year tax positions		(1,745)
Changes related to prior year tax positions	2
Ending balance	$ 1,911	$ 1,860

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 24, 2020	Jan. 31, 2020	May 31, 2021	Jan. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted						795,000
Awards granted requisite service period					3 years
Description of compensation expense related to stock options					Compensation expense related to stock options is based on the fair value of the underlying stock on the award date and is recognized over the vesting period using the straight-line method.
Compensation expense related to the outstanding stock options granted					$ 2.1	$ 0.9
Amount of unrecognized compensation expense related to unvested stock options					$ 3.6	$ 2.1
Number of shares of unvested stock options outstanding					523,333	785,000
Exercise price of unvested stock options					$ 12.89
Restricted stock awarded and earned stock compensation, shares				480,000
Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted requisite service period					3 years
Non-Employee Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock awarded and earned stock compensation, shares			26,511
2020 Omnibus Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares of authorized to grant					1,520,000
Number of shares available for grant					228,489
Stock options granted	12,500	782,500
Exercise price of unvested stock options	$ 6.28
2020 Omnibus Incentive Plan | Initial Public Offering
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price of unvested stock options		$ 13

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Assumptions to Estimate Fair Value of Stock Options (Details) - Stock Options [Member]	12 Months Ended
	Dec. 31, 2021
Assumptions:
Expected volatility	0.28%
Risk-free interest rate	1.50%

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Options, Outstanding at beginning of year		785,000
Stock options granted			795,000
Options, Forfeited			(10,000)
Options, Outstanding at end of year		785,000	785,000
Options, Exercisable at end of year		261,667
Options, Expected to vest	[1]	523,333	785,000
Weighted Average Exercise Price, Outstanding at beginning of year		$ 12.89
Weighted Average Exercise Price, Granted			$ 12.89
Weighted Average Exercise Price, Forfeited			13
Weighted Average Exercise Price, Outstanding at end of year		12.89	12.89
Weighted Average Exercise Price, Exercisable at end of year		12.89
Weighted Average Exercise Price, Expected to vest	[1]	$ 12.89	$ 12.89
Weighted Average Remaining Contractual Term, Outstanding		8 years 1 month 6 days	9 years 1 month 6 days
Weighted Average Remaining Contractual Term, Exercisable at end of year		8 years 1 month 6 days	9 years 1 month 6 days
Weighted Average Remaining Contractual Term, Expected to vest	[1]	8 years 1 month 6 days	9 years 1 month 6 days
Aggregate Intrinsic Value, Outstanding at end of year		$ 93
Aggregate Intrinsic Value, Exercisable at end of year		31
Aggregate Intrinsic Value, Expected to vest	[1]	$ 62
[1]	The number of options expected to vest reflects no expected forfeiture .

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Restricted Stock Award Activity (Details) - Restricted Stock Awards	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted | shares	506,511
Nonvested at December 31, 2021 | shares	506,511
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 7.23
Weighted Average Grant Date Fair Value, Nonvested at December 31, 2021 | $ / shares	$ 7.23
Employee
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted | shares	480,000
Nonvested at December 31, 2021 | shares	480,000
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 7.04
Weighted Average Grant Date Fair Value, Nonvested at December 31, 2021 | $ / shares	$ 7.04
Non-Employee Director
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted | shares	26,511
Nonvested at December 31, 2021 | shares	26,511
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 10.75
Weighted Average Grant Date Fair Value, Nonvested at December 31, 2021 | $ / shares	$ 10.75

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Basic and Diluted income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Basic EPS:
Net income	$ 8,353	$ 8,022	$ 9,453	$ 3,396	$ 9,576	$ 3,481	$ 2,141	$ 2,579	$ 29,224	$ 17,777	$ 17,292
Less deemed dividends on preferred stock										48,955
Net income (loss) allocated to common stock									29,224	(31,178)
Less earnings allocated to participating securities									8,589
Net earnings (loss) Allocated to common stockholders									$ 20,635	$ (31,178)
Weighted average common shares outstanding									22,813	20,087
Basic income (loss) per common share									$ 0.90	$ (1.55)
Diluted EPS:
Net income (loss) allocated to common shareholders									$ 20,635	$ (31,178)
Weighted average common shares outstanding									22,813	20,087
Add dilutive effects for warrants									1,974
Add dilutive effects for stock options									3
Add dilutive effects of unvested restricted stock awards									203
Weighted average diluted common shares outstanding									33,982	20,087
Diluted income (loss) per common share									$ 0.86	$ (1.55)
Series A Convertible Preferred Stock
Diluted EPS:
Add dilutive effects for assumed conversion of Series A preferred stock									8,989

Earnings (Loss) Per Share - S_2

Earnings (Loss) Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share equivalents excluded from EPS	773	15,486
Series A Convertible Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share equivalents excluded from EPS		11,688
Shares underlying warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share equivalents excluded from EPS		3,013
Stock options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share equivalents excluded from EPS	773	785

Convertible Redeemable Prefer_2

Convertible Redeemable Preferred Stock - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 07, 2020	Jan. 28, 2020	Jan. 22, 2020	Dec. 31, 2021	Dec. 31, 2020	Oct. 08, 2021	Jan. 16, 2020
Convertible Redeemable Preferred Stock [Line Items]
Proceeds from issuance of preferred stock and warrants	$ 43.2
Percentage of common stock held by warrant holder and affiliates				49.00%
Preferred stock redemption description				Preferred could have become redeemable at any time after 2.5 years from the Closing Date of April 7, 2020
Maximum
Convertible Redeemable Preferred Stock [Line Items]
Preferred stock redemption value					$ 90
Preferred Stock, Redemption Price Per Share					$ 2,000
Preferred stock redemption share					45,000
Deemed dividends- preferred stock redemption value					$ 49
Exercise Price of $2.96 per Share of Common Stock
Convertible Redeemable Preferred Stock [Line Items]
Exercise price per share				$ 2.96
Warrants to purchase an aggregate shares				2,008,750
Exercise Price of $4.94 per Share of Common Stock
Convertible Redeemable Preferred Stock [Line Items]
Exercise price per share				$ 4.94
Warrants to purchase an aggregate shares				1,004,375
Shares underlying warrants
Convertible Redeemable Preferred Stock [Line Items]
Exercise price per share	$ 1,000
Warrants to purchase an aggregate shares	3,013,125
Common Stock
Convertible Redeemable Preferred Stock [Line Items]
Issuance of common stock, shares		1,087,500	7,250,000	11,699,037	20,087,494
Stock price		$ 13	$ 13
Convertible preferred shares outstanding into common stock						11,688,310	11,749,994
Series A Convertible Preferred Stock
Convertible Redeemable Preferred Stock [Line Items]
Convertible preferred shares outstanding						45,000
Private Placement | Series A Convertible Preferred Stock
Convertible Redeemable Preferred Stock [Line Items]
Issuance of common stock, shares	45,000
Stock price	$ 0.01

Concentration of Risk - Concent

Concentration of Risk - Concentrations of Loans Unpaid Principal Balance (Details) - Commercial Property - Originates and Purchases Loans Secured	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Geographic Concentration
Concentration Risk [Line Items]
Concentration risk, percentage	100.00%	100.00%
Property Type Concentration
Concentration Risk [Line Items]
Concentration risk, percentage	100.00%	100.00%
Property Type Concentration | Investor 1-4
Concentration Risk [Line Items]
Concentration risk, percentage	50.70%	50.00%
Property Type Concentration | Mixed use
Concentration Risk [Line Items]
Concentration risk, percentage	12.80%	13.30%
Property Type Concentration | Multifamily
Concentration Risk [Line Items]
Concentration risk, percentage	8.80%	9.40%
Property Type Concentration | Retail
Concentration Risk [Line Items]
Concentration risk, percentage	9.10%	8.80%
Property Type Concentration | Office
Concentration Risk [Line Items]
Concentration risk, percentage	6.10%	5.60%
Property Type Concentration | Warehouse
Concentration Risk [Line Items]
Concentration risk, percentage	6.70%	6.10%
Property Type Concentration | Other (individually less than 5.0%)
Concentration Risk [Line Items]
Concentration risk, percentage	5.80%	6.80%
California | Geographic Concentration
Concentration Risk [Line Items]
Concentration risk, percentage	23.30%	23.50%
New York | Geographic Concentration
Concentration Risk [Line Items]
Concentration risk, percentage	21.40%	22.80%
Florida | Geographic Concentration
Concentration Risk [Line Items]
Concentration risk, percentage	13.50%	11.50%
New Jersey | Geographic Concentration
Concentration Risk [Line Items]
Concentration risk, percentage	7.70%	8.10%
Other states (individually less than 5.0%) | Geographic Concentration
Concentration Risk [Line Items]
Concentration risk, percentage	34.10%	34.10%

Concentration of Risk - Additio

Concentration of Risk - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Concentration Risk [Line Items]
Transfer of loans held for investment to real estate owned	$ 11,466	$ 9,747	$ 11,369
Real Estate Owned, Net | Geographic Concentration
Concentration Risk [Line Items]
Transfer of loans held for investment to real estate owned	$ 17,600	$ 15,800

Concentration of Risk - Summary

Concentration of Risk - Summary of Real Estate Owned, Net (Details) - Real Estate Owned, Net - Number of Loans Held in Real Estate Owned - Geographic Concentration	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Concentration Risk [Line Items]
Concentration risk, percentage	100.00%	100.00%
Maryland
Concentration Risk [Line Items]
Concentration risk, percentage	21.40%	23.50%
Connecticut
Concentration Risk [Line Items]
Concentration risk, percentage	6.10%	21.70%
Ohio
Concentration Risk [Line Items]
Concentration risk, percentage	11.90%	10.70%
California
Concentration Risk [Line Items]
Concentration risk, percentage	24.90%	7.90%
North Carolina
Concentration Risk [Line Items]
Concentration risk, percentage	1.10%	7.60%
Arizona
Concentration Risk [Line Items]
Concentration risk, percentage		7.10%
Alabama
Concentration Risk [Line Items]
Concentration risk, percentage		6.00%
New Jersey
Concentration Risk [Line Items]
Concentration risk, percentage	10.70%	2.50%
Other states (individually less than 5.0%)
Concentration Risk [Line Items]
Concentration risk, percentage	23.90%	13.00%

Commitments and Contingencies (

Commitments and Contingencies (Additional Information) (Details) $ in Thousands	Dec. 31, 2021USD ($)
Commitments And Contingencies Disclosure [Abstract]
Repurchase reserve balance	$ 141

Retirement Plan - Additional In

Retirement Plan - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Discretionary employer matching contribution amount	$ 579	$ 476	$ 366

Other Operating Expenses - Summ

Other Operating Expenses - Summary of Other Operating Expenses (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Operating Expenses [Abstract]
Travel, marketing and business development		$ 661	$ 578	$ 1,307
Data processing and telecommunications		2,476	2,150	2,094
Office expenses		1,396	1,579	1,891
Insurance, taxes, and licenses		2,457	2,179	470
Other	[1]	1,498	1,914	219
Total other operating expenses		$ 8,488	$ 8,400	$ 5,981
[1]	Other expenses increased in 2020 due to costs associated with operating as a public company, including SEC filing fees and Board of Directors fees.

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - $ / shares	Apr. 07, 2020	Jan. 28, 2020	Jan. 22, 2020	Dec. 31, 2021	Dec. 31, 2020	Oct. 08, 2021	Jan. 16, 2020
Related Party Transaction [Line Items]
Preferred stock, par or stated value per share				$ 0.01	$ 0.01
Shares underlying warrants
Related Party Transaction [Line Items]
Exercise price per share	$ 1,000
Warrants to purchase an aggregate shares	3,013,125
Common Stock
Related Party Transaction [Line Items]
Issuance of common stock, shares		1,087,500	7,250,000	11,699,037	20,087,494
Convertible preferred shares outstanding into common stock						11,688,310	11,749,994
Series A Convertible Preferred Stock
Related Party Transaction [Line Items]
Convertible preferred shares outstanding						45,000
Series A Preferred Stock
Related Party Transaction [Line Items]
Convertible preferred shares outstanding				0	45,000	45,000
Private Placement | Series A Convertible Preferred Stock
Related Party Transaction [Line Items]
Issuance of common stock, shares	45,000
Preferred stock, par or stated value per share	$ 0.01

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Information on Assets Measured and Recorded at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment, at fair value	$ 1,359	$ 1,539
Mortgage servicing rights	7,152
Total recurring fair value measurements	125,477	49,990
Real estate owned, net	17,557	15,767
Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment, at fair value	1,359	1,539
Mortgage servicing rights	7,152
Interest-only strips		238
Total recurring fair value measurements	8,511	1,777
Nonrecurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	116,966	48,213
Loans held for sale, net	87,422	13,106
Real estate owned, net	17,557	15,767
Individually evaluated/Impaired loans requiring specific allowance, net	11,987	19,340
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	125,477	49,990
Level 3 | Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment, at fair value	1,359	1,539
Mortgage servicing rights	7,152
Interest-only strips		238
Total recurring fair value measurements	8,511	1,777
Level 3 | Nonrecurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	116,966	48,213
Loans held for sale, net	87,422	13,106
Real estate owned, net	17,557	15,767
Individually evaluated/Impaired loans requiring specific allowance, net	$ 11,987	$ 19,340

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Gains and Losses Recognized on Assets Measured on Nonrecurring Basis (Details) - Nonrecurring Fair Value Measurements - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total net loss	$ (480)	$ (3,161)	$ (2,132)
Loans Held for Sale, Net
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total net loss	17	328	(224)
Real Estate Held For Sale, Net
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total net loss	(1,759)	(1,734)	(1,631)
Individually Evaluated Loans Requiring Specific Allowance, Net
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total net loss	$ 1,262	$ (1,755)	$ (277)

Fair Value Measurements - Valua

Fair Value Measurements - Valuation Techniques and Unobservable Inputs Related to Level 3 Assets (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	$ 125,477	$ 49,990
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	$ 125,477	$ 49,990
Level 3 | Valuation, Market Approach | Measurement Input Selling Cost
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Individually evaluated loans requiring allowance, net	0.080	0.080
Real estate owned, net	0.080	0.080
Level 3 | Discounted Cash Flow | Discount rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	0.058	0.062
Loans held for sale	0.058	0.062
Interest-only strips		0.150
Level 3 | Discounted Cash Flow | Loss Severity Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value		0.010
Level 3 | Minimum | Discounted Cash Flow | Discount rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mortgage servicing rights, at fair value	0.080
Level 3 | Minimum | Discounted Cash Flow | Collateral value (% of UPB)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	0.950	0.940
Level 3 | Minimum | Discounted Cash Flow | Timing of Resolution/Payoff
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	1 month	14 months
Loans held for sale	3 months	31 months
Interest-only strips		0 months
Level 3 | Minimum | Discounted Cash Flow | Measurement Input, Prepayment Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	0.192	0.175
Mortgage servicing rights, at fair value	0.024
Level 3 | Minimum | Discounted Cash Flow | Default Rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	0	0.050
Level 3 | Minimum | Discounted Cash Flow | Loss Severity Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	0
Level 3 | Maximum | Discounted Cash Flow | Discount rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mortgage servicing rights, at fair value	0.120
Level 3 | Maximum | Discounted Cash Flow | Collateral value (% of UPB)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	1.200	1.040
Level 3 | Maximum | Discounted Cash Flow | Timing of Resolution/Payoff
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	38 months	31 months
Loans held for sale	37 months	34 months
Interest-only strips		12 months
Level 3 | Maximum | Discounted Cash Flow | Measurement Input, Prepayment Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	0.50	0.300
Mortgage servicing rights, at fair value	0.035
Level 3 | Maximum | Discounted Cash Flow | Default Rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	0.067	0.150
Level 3 | Maximum | Discounted Cash Flow | Loss Severity Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	0.134
Level 3 | Weighted Average | Valuation, Market Approach | Measurement Input Selling Cost
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Individually evaluated loans requiring allowance, net	0.080	0.080
Real estate owned, net	0.080	0.080
Level 3 | Weighted Average | Discounted Cash Flow | Discount rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	0.058	0.062
Loans held for sale	0.058	0.062
Interest-only strips		0.150
Mortgage servicing rights, at fair value	0.080
Level 3 | Weighted Average | Discounted Cash Flow | Collateral value (% of UPB)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	1.060	1
Level 3 | Weighted Average | Discounted Cash Flow | Timing of Resolution/Payoff
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	34 months 24 days	25 months
Loans held for sale	13 months	32 months
Interest-only strips		1 month 15 days
Level 3 | Weighted Average | Discounted Cash Flow | Measurement Input, Prepayment Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mortgage servicing rights, at fair value	0.032
Level 3 | Weighted Average | Discounted Cash Flow | Default Rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	0.010	0.120
Level 3 | Weighted Average | Discounted Cash Flow | Loss Severity Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for investment,at fair value	0.030	0.010
Level 3 | Individually evaluated loans requiring allowance net
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	$ 11,987	$ 19,340
Level 3 | Real Estate Owned, Net
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	17,557	15,767
Level 3 | Loans Held for Investment
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	1,359	1,539
Level 3 | Loans Held For Sale
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	87,422	13,106
Level 3 | Interest-only Strips
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements		$ 238
Level 3 | Mortgage Servicing Rights
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	$ 7,152

Fair Value Measurements - Rollf

Fair Value Measurements - Rollforward of Loans and Interest Only Strips Measured at Estimated Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Loans
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning balance	$ 1,539	$ 2,960	$ 3,463
Loans liquidated	(163)	(1,808)	(421)
Principal paydowns	(46)	(55)	(73)
Total unrealized gain (loss) included in netincome	29	442	(9)
Ending balance	1,359	1,539	2,960
Interest-only Strips
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning balance	238	894	812
Interest-only strip additions		1,820	2,495
Interest-only strip write-offs	$ (238)	(2,469)	(2,202)
Total unrealized gain (loss) included in netincome		(7)	(211)
Ending balance		$ 238	$ 894

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Loans individually evaluated for allowance	$ 12,000	$ 19,300
Allowance for loan losses	$ 1,406	$ 2,668

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets:
Restricted cash	$ 11,639	$ 7,020	$ 6,087
Loans held for investment, net	2,527,564	1,948,089
Loans held for investment, at fair value	1,359	1,539
Mortgage servicing rights	7,152
Liabilities:
Secured financing, net	162,845	74,982
Securitizations, net	1,911,879	1,579,019
Carrying Value
Assets:
Cash	35,965	13,273
Restricted cash	11,639	7,020
Loans held for sale, net	87,908	13,106
Loans held for investment, net	2,527,564	1,948,089
Loans held for investment, at fair value	1,359	1,539
Accrued interest receivables	13,159	11,373
Mortgage servicing rights	7,152
Interest-only strips		238
Liabilities:
Secured financing, net	162,845	74,982
Warehouse and repurchase facilities, net	301,069	75,923
Securitizations, net	1,911,879	1,579,019
Accrued interest payable	6,254	5,503
Estimate of Fair Value Measurement
Assets:
Cash	35,965	13,273
Restricted cash	11,639	7,020
Loans held for sale, net	87,908	13,272
Loans held for investment, net	2,655,357	2,003,301
Loans held for investment, at fair value	1,359	1,539
Accrued interest receivables	13,159	11,373
Mortgage servicing rights	7,152
Interest-only strips		238
Liabilities:
Secured financing, net	170,843	78,000
Warehouse and repurchase facilities, net	301,069	75,923
Securitizations, net	1,931,002	1,616,222
Accrued interest payable	6,254	5,503
Level 1 | Estimate of Fair Value Measurement
Assets:
Cash	35,965	13,273
Restricted cash	11,639	7,020
Accrued interest receivables	13,159	11,373
Liabilities:
Accrued interest payable	6,254	5,503
Level 2 | Estimate of Fair Value Measurement
Liabilities:
Warehouse and repurchase facilities, net	301,069	75,923
Level 3 | Estimate of Fair Value Measurement
Assets:
Loans held for sale, net	87,908	13,272
Loans held for investment, net	2,655,357	2,003,301
Loans held for investment, at fair value	1,359	1,539
Mortgage servicing rights	7,152
Interest-only strips		238
Liabilities:
Secured financing, net	170,843	78,000
Securitizations, net	$ 1,931,002	$ 1,616,222

Select Quarterly Financial Da_3

Select Quarterly Financial Data (Unaudited) - Schedule of Unaudited Quarterly Results (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Interest income	$ 49,360	$ 46,923	$ 44,978	$ 40,707	$ 41,556	$ 41,374	$ 39,755	$ 44,637	$ 181,968	$ 167,322	$ 157,531
Interest expense — portfolio related	23,666	20,321	20,566	20,832	21,442	22,347	21,189	22,848	85,386	87,826	83,903
Net interest income — portfolio related	25,694	26,602	24,412	19,875	20,114	19,027	18,566	21,789	96,582	79,496	73,628
Interest expense — corporate debt	4,462	4,488	4,309	7,350	1,900	1,913	1,894	6,342	20,609	12,049	14,618
Net interest income	21,232	22,114	20,103	12,525	18,214	17,114	16,672	15,447	75,973	67,447	59,010
Provision for (reversal of) loan losses	377	228	(1,000)	105	406	1,573	1,800	1,290	(292)	5,068	1,139
Net interest income after provision for loan losses	20,855	21,886	21,103	12,420	17,808	15,541	14,872	14,157	76,265	62,379	57,871
Other operating income (expense)	2,617	339	2,432	2,801	4,691	1,349	(1,339)	1,620	8,188	6,320	2,649
Operating expenses	12,095	11,298	10,650	10,617	10,746	11,865	10,908	12,050	44,660	45,570	35,122
Income before income taxes	11,377	10,927	12,885	4,604	11,753	5,025	2,625	3,727	39,793	23,129	25,398
Income tax expense	3,024	2,905	3,432	1,208	2,177	1,544	484	1,148	10,569	5,352	8,106
Net income attributable to Velocity Financial, Inc.	$ 8,353	$ 8,022	$ 9,453	$ 3,396	$ 9,576	$ 3,481	$ 2,141	$ 2,579	$ 29,224	$ 17,777	$ 17,292

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ in Millions	Feb. 15, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Securitization loans		$ 4,400
Subsequent Event
Subsequent Event [Line Items]
Securitization loans	$ 273.6