Velocity Financial (VEL) 10-Q 3 Nov 22 2022 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 01, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
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
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		32,415,860
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 Quarterly Report	true
Document Transition Report	false

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 26,372	$ 35,965
Restricted cash	14,533	11,639
Loans held for sale, net		87,908
Loans held for sale, at fair value	16,569
Loans held for investment, net	3,445,563	2,527,564
Loans held for investment, at fair value	926	1,359
Total loans, net	3,463,058	2,616,831
Accrued interest receivables	18,333	13,159
Receivables due from servicers	66,992	74,330
Other receivables	1,962	1,812
Real estate owned, net	13,188	17,557
Property and equipment, net	3,495	3,830
Deferred tax asset	4,337	16,604
Mortgage servicing rights, at fair value	9,868	7,152
Goodwill	6,775	6,775
Other assets	18,453	6,824
Total assets	3,647,366	2,812,478
LIABILITIES
Accounts payable and accrued expenses	75,150	92,195
Secured financing, net	209,537	162,845
Securitizations, net	2,651,895	1,911,879
Warehouse and repurchase facilities, net	340,050	301,069
Total liabilities	3,276,632	2,467,988
Commitments and contingencies
EQUITY
Common stock ($0.01 par value, 100,000,000 shares authorized at September 30, 2022 and December 31, 2021; 32,415,860 and 32,293,042 shares issued and outstanding, respectively)	325	323
Treasury stock, at cost (33,647 common shares at September 30, 2022 and none at December 31, 2021)	(458)
Additional paid-in capital	298,772	296,364
Retained earnings	68,171	44,422
Total Velocity Financial Inc. stockholders' equity	366,810	341,109
Noncontrolling interest in subsidiary	3,924	3,381
Total equity	370,734	344,490
Total liabilities and equity	$ 3,647,366	$ 2,812,478

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
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	32,415,860	32,293,042
Common stock, shares, outstanding	32,415,860	32,293,042
Treasury stock, common shares	33,647	33,647
ASSETS
Restricted cash	$ 14,533	$ 11,639
Loans held for investment, net	3,445,563	2,527,564
Real estate owned, net	13,188	17,557
Other assets	18,453	6,824
Total assets	3,647,366	2,812,478
LIABILITIES
Accounts payable and accrued expenses	75,150	92,195
Total liabilities	3,276,632	2,467,988
Variable Interest Entity Primary Beneficiary
ASSETS
Restricted cash	2,977	4,713
Loans held for investment, net	2,946,921	2,202,010
Accrued interest and other receivables	80,796	83,493
Real estate owned, net	10,106	9,861
Other assets	11	9
Total assets	3,040,811	2,300,086
LIABILITIES
Accounts payable and accrued expenses	43,068	45,705
Securities issued	2,651,895	1,911,879
Total liabilities	$ 2,694,963	$ 1,957,584

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Interest income	$ 63,419	$ 46,923	$ 174,711	$ 132,608
Interest expense — portfolio related	34,561	20,321	86,869	61,720
Net interest income — portfolio related	28,858	26,602	87,842	70,888
Interest expense — corporate debt	4,011	4,488	25,333	16,147
Net interest income	24,847	22,114	62,509	54,741
Provision for (reversal of) loan losses	580	228	1,589	(668)
Net interest income after provision for (reversal of) loan losses	24,267	21,886	60,920	55,409
Other operating income
Gain on disposition of loans	399	306	6,716	5,536
Unrealized gain on fair value loans	453		469	18
Other income	1,657	33	4,011	18
Total other operating income	2,509	339	11,196	5,572
Operating expenses
Compensation and employee benefits	6,788	4,738	18,664	14,470
Rent and occupancy	445	447	1,313	1,340
Loan servicing	3,314	2,014	9,055	5,803
Professional fees	664	736	3,087	2,064
Real estate owned, net	(195)	1,186	(621)	2,734
Other operating expenses	1,711	2,177	7,758	6,154
Total operating expenses	12,727	11,298	39,256	32,565
Income before income taxes	14,049	10,927	32,860	28,416
Income tax expense	3,759	2,905	8,568	7,545
Net income	10,290	8,022	24,292	20,871
Net income attributable to noncontrolling interest	307		543
Net income attributable to Velocity Financial, Inc.	9,983	8,022	23,749	20,871
Less: undistributed earnings attributable to participating securities	152	3,030	362	7,884
Net earnings attributable to common stockholders	$ 9,831	$ 4,992	$ 23,387	$ 12,987
Earnings per common share
Basic	$ 0.31	$ 0.25	$ 0.73	$ 0.65
Diluted	$ 0.29	$ 0.23	$ 0.70	$ 0.62
Weighted average common shares outstanding
Basic	31,922	20,090	31,910	20,088
Diluted	34,199	34,212	34,153	33,858

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Parent	Noncontrolling Interest
Beginning balance at Dec. 31, 2020	$ 219,589	$ 201	$ 204,190	$ 15,198		$ 219,589
Beginning balance, shares at Dec. 31, 2020		20,087,494
Restricted stock awarded and earned stock compensation	231	$ 5	226			231
Restricted stock awarded and earned stock compensation, shares		480,000
Stock-based compensation	254		254			254
Net income	3,396			3,396		3,396
Ending balance at Mar. 31, 2021	223,470	$ 206	204,670	18,594		223,470
Ending balance, shares at Mar. 31, 2021		20,567,494
Beginning balance at Dec. 31, 2020	219,589	$ 201	204,190	15,198		219,589
Beginning balance, shares at Dec. 31, 2020		20,087,494
Net income	20,871
Ending balance at Sep. 30, 2021	242,190	$ 206	205,915	36,069		242,190
Ending balance, shares at Sep. 30, 2021		20,604,732
Beginning balance at Mar. 31, 2021	223,470	$ 206	204,670	18,594		223,470
Beginning balance, shares at Mar. 31, 2021		20,567,494
Restricted stock awarded and earned stock compensation	291		291			291
Restricted stock awarded and earned stock compensation, shares		26,511
Stock-based compensation	254		254			254
Net income	9,453			9,453		9,453
Ending balance at Jun. 30, 2021	233,468	$ 206	205,215	28,047		233,468
Ending balance, shares at Jun. 30, 2021		20,594,005
Issuance of common stock	137		137			137
Issuance of common stock, shares		10,727
Restricted stock awarded and earned stock compensation	307		307			307
Stock-based compensation	256		256			256
Net income	8,022			8,022		8,022
Ending balance at Sep. 30, 2021	242,190	$ 206	205,915	36,069		242,190
Ending balance, shares at Sep. 30, 2021		20,604,732
Beginning balance at Dec. 31, 2021	344,490	$ 323	296,364	44,422		341,109	$ 3,381
Beginning balance, shares at Dec. 31, 2021		32,293,042
Purchase of treasury stock, at cost	(458)				$ (458)	(458)
Purchase of treasury stock, at cost, shares					(33,647)
Restricted stock awarded and earned stock compensation	418	$ 2	416			418
Restricted stock awarded and earned stock compensation, shares		125,250
Stock-based compensation	251		251			251
Net income	3,231			3,121		3,121	110
Ending balance at Mar. 31, 2022	347,932	$ 325	297,031	47,543	$ (458)	344,441	3,491
Ending balance, shares at Mar. 31, 2022		32,418,292			(33,647)
Beginning balance at Dec. 31, 2021	344,490	$ 323	296,364	44,422		341,109	3,381
Beginning balance, shares at Dec. 31, 2021		32,293,042
Net income	24,292
Ending balance at Sep. 30, 2022	370,734	$ 325	298,772	68,171	$ (458)	366,810	3,924
Ending balance, shares at Sep. 30, 2022		32,449,507			(33,647)
Beginning balance at Mar. 31, 2022	347,932	$ 325	297,031	47,543	$ (458)	344,441	3,491
Beginning balance, shares at Mar. 31, 2022		32,418,292			(33,647)
Restricted stock awarded and earned stock compensation	555		555			555
Restricted stock awarded and earned stock compensation, shares		31,215
Stock-based compensation	254		254			254
Net income	10,771			10,645		10,645	126
Ending balance at Jun. 30, 2022	359,512	$ 325	297,840	58,188	$ (458)	355,895	3,617
Ending balance, shares at Jun. 30, 2022		32,449,507			(33,647)
Stock-based compensation	932		932			932
Net income	10,290			9,983		9,983	307
Ending balance at Sep. 30, 2022	$ 370,734	$ 325	$ 298,772	$ 68,171	$ (458)	$ 366,810	$ 3,924
Ending balance, shares at Sep. 30, 2022		32,449,507			(33,647)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 24,292	$ 20,871
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	605	883
Amortization of right-of-use assets	979	885
Provision for (reversal of) loan losses	1,589	(668)
Origination of loans held for sale	(16,119)
Purchase of held for sale loans		(755)
Repayments on loans held for sale		16
Net accretion of discount on purchased loans and deferred loan origination costs	5,694	4,696
(Reversal of) provision for uncollectible borrower advances	(232)	170
Gain on disposition of loans	(4,572)	(4,745)
Real estate acquired through foreclosure in excess of recorded investment	(2,144)	(791)
Amortization of debt issuance discount and costs	22,527	14,088
Loss on disposal of property and equipment	3	18
Change in valuation of real estate owned	276	1,619
Change in valuation of fair value loans	(469)	(18)
Change in valuation of mortgage servicing rights	(2,716)
Change in valuation of held for sale loans		(15)
Gain on sale of real estate owned	(2,799)	(240)
Stock-based compensation	2,410	1,595
Deferred tax expense (benefit)	12,266	(10,373)
Change in operating assets and liabilities:
Accrued interest and other receivables	(4,953)	(1,043)
Other assets	(12,595)	(512)
Accounts payable and accrued expenses	(15,386)	13,893
Net cash provided by operating activities	8,656	39,574
Cash flows from investing activities:
Purchase of loans held for investment	(16,997)	(9,412)
Origination of loans held for investment	(1,475,694)	(840,798)
Proceeds from sales of loans originally classified as held for investment	224,060	99,117
Payoffs of loans held for investment and loans at fair value	434,945	427,224
Proceeds from sale of real estate owned	18,568	7,459
Purchase of real estate owned	(2,250)
Capitalized real estate owned improvements		(78)
Change in advances	1,253	(1,597)
Change in impounds and deposits	(2,677)	1,894
Purchase of property and equipment	(273)	(104)
Net cash used in investing activities	(819,065)	(316,295)
Cash flows from financing activities:
Warehouse repurchase facilities advances	1,344,528	717,605
Warehouse repurchase facilities repayments	(1,305,914)	(534,062)
Proceeds from secured financing	215,000	175,000
Repayment of secured financing	(170,844)	(81,063)
Proceeds of securitizations, net	1,181,997	456,184
Repayment of securitizations	(437,499)	(412,916)
Debt issuance costs	(23,100)	(18,981)
Purchase of treasury stock	(458)
Proceeds from issuance of common stock, net		137
Deferred stock issuance costs		(393)
Net cash provided by financing activities	803,710	301,511
Net (decrease) increase in cash, cash equivalents, and restricted cash	(6,699)	24,790
Cash, cash equivalents, and restricted cash at beginning of period	47,604	20,293
Cash, cash equivalents, and restricted cash at end of period	40,905	45,083
Supplemental cash flow information:
Cash paid during the period for interest	84,938	63,706
Cash paid during the period for income taxes	22,961	7,224
Noncash transactions from investing and financing activities:
Transfer of loans held for investment to held for sale	206,319	80,498
Transfer of loans held for investment to real estate owned	7,283	10,107
Transfer of accrued interest to loans held for investment	933	1,776
Discount on issuance of securitizations	22,632	223
Transfer of loans held for sale to held for investment	$ 74,887	$ 10,178

Organization and Description of

Organization and Description of Business	9 Months Ended
	Sep. 30, 2022
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 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, 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 commercial 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 primarily on the difference between the yield on its investor real estate loan portfolio and the cost of its borrowings. The Company may also sell loans from time to time. The Company does not 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 2016-1 Trust through and including the 2022-4 Trust, all of which are New York common law trusts, with the exception of the VCC 2022-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”). 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	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 2 — Basis of Presentation and Summary of Significant Accounting Policies The accompanying unaudited Consolidated Financial Statements as of and for the nine months ended September 30, 2022 and 2021 have been prepared on a basis that is substantially consistent with the accounting principles applied to the Company’s audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The information furnished in these interim statements reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results for each respective period presented. Such adjustments are of a normal, recurring nature. The results of operations in the interim statements are not necessarily indicative of the results that may be expected for any other quarter for the full year. The interim financial information should be read in conjunction with the Company’s audited Consolidated Financial Statements. (a) 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. (b) Significant Accounting Policies The Company’s significant accounting policies are described in Note 2 — Basis of Presentation and Summary of Significant Accounting Policies , of its audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2021 as filed with the Securities and Exchange Commission. There have been no significant changes to the Company’s significant accounting policies as described in its 2021 Annual Report, other than the election of fair value option accounting on certain loans originated with the intent to sell to Ginnie Mae. (c) 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 September 30, 2022 and December 31, 2021 include only those assets, liabilities, and results of operations related to the business of the Company, its subsidiaries, and VIEs.

Current Accounting Developments

Current Accounting Developments	9 Months Ended
	Sep. 30, 2022
Accounting Changes and Error Corrections [Abstract]
Current Accounting Developments	Note 3 — Current Accounting Developments (a) Recently Issued Accounting Standards ASU 2022-2, "Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures." The amendments in this ASU eliminate the recognition and measurement guidance for troubled debt restructuring by Creditors and require enhanced disclosures for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. ASU 2022-4 requires that an entity disclose current-period gross write-offs by year of origination for financing receivables. This ASU is effective January 1, 2023 for the Company. The adoption of this standard is not expected to have a significant impact on the Company’s consolidated financial statements. (b) Treasury Shares The Company separately presents treasury shares, which represent shares surrendered to the Company equal in value to the statutory payroll tax withholding obligations arising from the vesting of employee restricted stock awards. Treasury shares are carried at cost.

Cash, Cash Equivalents, and Res

Cash, Cash Equivalents, and Restricted Cash	9 Months Ended
	Sep. 30, 2022
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 potential future advances due to certain borrowers. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company’s consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows for the nine months ended September 30, 2022 and 2021 (in thousands): September 30, 2022 2021 Cash and cash equivalents $ 26,372 $ 35,497 Restricted cash 14,533 9,586 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 40,905 $ 45,083

Loans Held for Sale and Loans H

Loans Held for Sale and Loans Held for Sale at Fair Value	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Loans Held for Sale and Loans Held for Sale at Fair Value	Note 5 — Loans Held for Sale and Loans Held for Sale at Fair Value The following table summarizes loans held for sale as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 Loans held for sale, net Loans held for sale, at fair value Total loans held for sale Unpaid principal balance $ — $ 16,119 $ 16,119 Valuation adjustments on FVO loans held for sale — 450 450 Total loans held for sale and loans held for sale at $ — $ 16,569 $ 16,569 December 31, 2021 Loans held for sale, net Loans held for sale, at fair value Total loans held for sale Unpaid principal balance $ 87,422 $ — $ 87,422 Deferred loan origination costs 486 — 486 Total loans held for sale, net $ 87,908 $ — $ 87,908

Loans Held for Investment and L

Loans Held for Investment and Loans Held for Investment at Fair Value	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 Loans held for investment, net Loans held for investment, at fair value Total loans held for investment Unpaid principal balance $ 3,415,468 $ 880 $ 3,416,348 Valuation adjustments on FVO loans — 46 46 Deferred loan origination costs 35,425 — 35,425 3,450,893 926 3,451,819 Allowance for loan losses ( 5,330 ) — ( 5,330 ) Total loans held for investment and loans held for investment at $ 3,445,563 $ 926 $ 3,446,489 December 31, 2021 Loans held for investment, net Loans held for investment, at fair value Total loans held for 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 and loans held for investment at $ 2,527,564 $ 1,359 $ 2,528,923 The following tables summarize the Unpaid Principal Balance (“UPB”) and amortized cost basis of loans in the Company's COVID-19 forbearance program for the three and nine months ended September 30, 2022 and the year ended December 31, 2021 ($ in thousands): Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 UPB % Amortized Cost % UPB % Amortized Cost % Beginning balance $ 236,314 $ 239,073 $ 292,429 $ 295,990 Foreclosures — — ( 1,427 ) ( 1,438 ) Repayments ( 18,796 ) ( 18,998 ) ( 73,484 ) ( 74,477 ) Ending balance $ 217,518 $ 220,075 $ 217,518 $ 220,075 Performing/Accruing $ 175,160 80.5 % $ 177,256 80.5 % $ 175,160 80.5 % $ 177,256 80.5 % Nonperforming/Nonaccrual $ 42,358 19.5 % $ 42,819 19.5 % $ 42,358 19.5 % $ 42,819 19.5 % 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 % Since April 1, 2020, the inception of the COVID-19 forbearance program, the Company has modified $ 409.1 million in UPB of loans, which includes capitalized interest of $ 11.0 million. As of September 30, 2022, $ 203.8 million in UPB of modified loans has been paid down, which includes $ 4.1 million of capitalized interest received. T he Company has not forgiven any capitalized interest. Approximately 80.5 % and 79.8 % of the COVID forbearance loans in UPB were performing, and 19.5 % and 20.2 % were on nonaccrual status as of September 30, 2022 and December 31, 2021, respectively. As of September 30, 2022 and December 31, 2021, the gross unpaid principal balances of loans held for investment pledged as collateral for the Company’s warehouse facilities and securitizations issued were as follows (in thousands): September 30, 2022 December 31, 2021 The 2013 repurchase agreement $ 174,201 $ 202,511 The 2021 repurchase agreement 119,604 114,072 The Bank credit agreement 57,470 30,959 The 2021 term repurchase agreement 68,048 53,217 The July 2021 term repurchase agreement 2,196 — Total pledged loans $ 421,519 $ 400,759 2015-1 Trust $ — $ 31,931 2016-1 Trust 40,218 52,623 2017-2 Trust 69,464 94,809 2018-1 Trust 52,435 71,051 2018-2 Trust 112,668 154,974 2019-1 Trust 107,898 144,727 2019-2 Trust 97,898 132,358 2019-3 Trust 80,698 103,266 2020-1 Trust 153,419 189,547 2020-2 Trust 82,979 98,403 2020-MC1 Trust — 134,957 2021-1 Trust 217,170 249,396 2021-2 Trust 181,098 198,039 2021-3 Trust 184,234 202,138 2021-4 Trust 285,214 314,547 2022-1 Trust 265,723 — 2022-2 Trust 248,574 — 2022-MC1 Trust 101,143 — 2022-3 Trust 302,862 — 2022-4 Trust 330,071 — Total $ 2,913,766 $ 2,172,766 (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 September 30, 2022 and December 31, 2021. There were no loans accruing interest that were greater than 90 days past due as of September 30, 2022 and December 31, 2021. September 30, 2022 Total Nonaccrual with No Allowance for Loan Loss Nonaccrual with Allowance for Loan Loss Allowance for Loans Individually Evaluated % of Allowance to Total Nonaccrual Loans with Allowance ($ in thousands) Commercial - Purchase $ 19,033 $ 18,770 $ 263 $ 6 0.1 % Commercial - Refinance 81,204 77,319 3,885 369 3.3 Residential 1-4 Unit - Purchase 21,731 21,263 468 118 1.1 Residential 1-4 Unit - Refinance 91,368 89,200 2,168 176 1.6 Short Term 1-4 Unit - Purchase 7,076 7,076 — — — Short Term 1-4 Unit - Refinance 35,845 31,408 4,437 205 1.8 Total $ 256,257 $ 245,036 $ 11,221 $ 874 7.8 % Troubled Debt Restructuring included $ — $ — $ — $ — — 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 Loans with Allowance ($ in thousands) 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 — 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. The Company will continue 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 tables present the amortized cost basis in the loans held for investment, excluding loans held for investment at fair value, as of September 30, 2022 and 2021, and the amount of accrued interest receivables written off by reversing interest income by portfolio segment for the three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, 2022 2021 Amortized Cost Interest Reversal Amortized Cost Interest Reversal Commercial - Purchase $ 722,868 $ 207 $ 426,483 $ 114 Commercial - Refinance 933,486 328 710,201 146 Residential 1-4 Unit - Purchase 630,069 93 340,611 33 Residential 1-4 Unit - Refinance 1,013,626 326 671,703 368 Short Term 1-4 Unit - Purchase 73,005 134 50,758 103 Short Term 1-4 Unit - Refinance 77,839 67 99,969 165 Total $ 3,450,893 $ 1,155 $ 2,299,725 $ 929 Nine Months Ended September 30, 2022 2021 Amortized Cost Interest Reversal Amortized Cost Interest Reversal Commercial - Purchase $ 722,868 $ 400 $ 426,483 $ 306 Commercial - Refinance 933,486 915 710,201 838 Residential 1-4 Unit - Purchase 630,069 374 340,611 154 Residential 1-4 Unit - Refinance 1,013,626 892 671,703 1,169 Short Term 1-4 Unit - Purchase 73,005 159 50,758 788 Short Term 1-4 Unit - Refinance 77,839 437 99,969 523 Total $ 3,450,893 $ 3,177 $ 2,299,725 $ 3,778 The cash basis interest income recognized on nonaccrual loans was $ 8.0 million and $ 7.6 million for the three months ended September 30, 2022 and 2021, respectively, a nd $ 24.0 million and $ 24.3 million for the nine months ended September 30, 2022 and 2021, respectively. No accrued interest income was recognized on nonaccrual loans for the nine months ended September 30, 2022. The average recorded investment of individually evaluated loans, computed using month-end balances, was $ 252.3 million and $ 292.2 million f or the three months ended September 30, 2022 and 2021 , and $ 265.0 million and $ 332.4 million for the nine months ended September 30, 2022 and 2021, respectively. There were no commitments to lend additional funds to debtors whose loans have been modified in troubled debt restructuring as of September 30, 2022 and 2021. (b) Allowance for Credit Losses The allowance for credit losses is maintained at a level deemed adequate by management to provide for expected losses in the portfolio at the balance sheet date. 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. To estimate the allowance for credit losses in the loans held for investment portfolio, management follows a detailed internal process, considering a number of different factors including, but not limited to, the ongoing analyses of loans, historical loss rates, relevant environmental factors, relevant market research, trends in delinquencies, effects and changes in credit concentrations, and ongoing evaluation of fair values. The Company uses an open pool loss rate methodology to model expected credit losses on a collective basis. 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 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. For the September 30, 2022 estimate, the Company considered a severe stress scenario with a six-quarter reasonable and supportable forecast period followed by a four-quarter straight-line reversion period. Management concluded that applying the severe stress scenario was appropriate given the uncertainty due to the increased risk of a recession, continued rising inflation, and the supply chain disruption from the Russia/Ukraine war and lingering impacts from COVID-19. 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). Nonperforming loans are considered collateral dependent by the Company. These loans are evaluated individually using the practical expedient to determine the credit exposure. The following tables present the activity in the allowance for credit losses for the three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, 2022 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 - July 1, 2022 $ 612 $ 1,996 $ 440 $ 1,270 $ 34 $ 553 $ 4,905 Provision for loan losses 78 66 182 227 9 18 580 Charge-offs — — ( 7 ) — — ( 148 ) ( 155 ) Ending balance $ 690 $ 2,062 $ 615 $ 1,497 $ 43 $ 423 $ 5,330 Allowance related to: Loans individually evaluated $ 6 $ 369 $ 118 $ 176 $ — $ 205 $ 874 Loans collectively evaluated $ 684 $ 1,693 $ 497 $ 1,321 $ 43 $ 218 $ 4,456 Amortized cost related to: Loans individually evaluated $ 19,033 $ 81,204 $ 21,731 $ 91,368 $ 7,076 $ 35,845 $ 256,257 Loans collectively evaluated $ 703,835 $ 852,282 $ 608,338 $ 922,258 $ 65,929 $ 41,994 $ 3,194,636 Three Months Ended September 30, 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: Beginning Balance - July 1, 2021 $ 262 $ 1,923 $ 281 $ 847 $ 73 $ 577 $ 3,963 Provision for loan losses — 44 27 68 62 27 228 Charge-offs — ( 18 ) — ( 43 ) — ( 102 ) ( 163 ) Ending balance $ 262 $ 1,949 $ 308 $ 872 $ 135 $ 502 $ 4,028 Allowance related to: Loans individually evaluated $ 12 $ 938 $ 96 $ 261 $ 110 $ 359 $ 1,776 Loans collectively evaluated $ 250 $ 1,010 $ 212 $ 611 $ 25 $ 144 $ 2,252 Amortized cost related to: Loans individually evaluated $ 20,707 $ 84,324 $ 18,419 $ 114,785 $ 5,982 $ 47,591 $ 291,808 Loans collectively evaluated $ 405,776 $ 625,877 $ 322,192 $ 556,918 $ 44,776 $ 52,378 $ 2,007,917 Nine Months Ended September 30, 2022 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 - January 1, 2022 $ 385 $ 2,144 $ 400 $ 948 $ 43 $ 342 $ 4,262 Provision for loan losses 452 ( 57 ) 222 654 — 318 1,589 Charge-offs ( 147 ) ( 25 ) ( 7 ) ( 105 ) — ( 237 ) ( 521 ) Ending balance $ 690 $ 2,062 $ 615 $ 1,497 $ 43 $ 423 $ 5,330 Allowance related to: Loans individually evaluated $ 6 $ 369 $ 118 $ 176 $ — $ 205 $ 874 Loans collectively evaluated $ 684 $ 1,693 $ 497 $ 1,321 $ 43 $ 218 $ 4,456 Amortized cost related to: Loans individually evaluated $ 19,033 $ 81,204 $ 21,731 $ 91,368 $ 7,076 $ 35,845 $ 256,257 Loans collectively evaluated $ 703,835 $ 852,282 $ 608,338 $ 922,258 $ 65,929 $ 41,994 $ 3,194,636 Nine Months Ended September 30, 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: Beginning Balance - January 1, 2021 $ 373 $ 2,093 $ 333 $ 1,216 $ 595 $ 1,235 $ 5,845 Provision for loan losses 3 ( 31 ) 12 ( 150 ) ( 446 ) ( 56 ) ( 668 ) Charge-offs ( 114 ) ( 113 ) ( 37 ) ( 194 ) ( 14 ) ( 677 ) ( 1,149 ) Ending balance $ 262 $ 1,949 $ 308 $ 872 $ 135 $ 502 $ 4,028 Allowance related to: Loans individually evaluated $ 12 $ 938 $ 96 $ 261 $ 110 $ 359 $ 1,776 Loans collectively evaluated $ 250 $ 1,010 $ 212 $ 611 $ 25 $ 144 $ 2,252 Amortized cost related to: Loans individually evaluated $ 20,707 $ 84,324 $ 18,419 $ 114,785 $ 5,982 $ 47,591 $ 291,808 Loans collectively evaluated $ 405,776 $ 625,877 $ 322,192 $ 556,918 $ 44,776 $ 52,378 $ 2,007,917 (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 a credit quality indicator. Nonperforming loans are loans that are 90 or more days past due, in bankruptcy, in foreclosure, or not accruing interest. For the three and nine months ended September 30, 2022 , the annualized charge-off rate was 0.25 % and 0.27 % of average nonperforming loans for the same period, respectively. The charge-off rate was 0.42 % for the year ended December 31, 2021. Other credit quality indicators include aging status and accrual status. The following table presents the aging status of the amortized cost basis in the loans held for investment portfolio, excluding loans held for investment at fair value, which include $ 220.0 million and $ 296.0 million loans in the Company’s COVID-19 forbearance program as of September 30, 2022 and December 31, 2021, respectively (in thousands): 30–59 days 60–89 days 90+days Total Total September 30, 2022 past due past due past due (1) past due Current loans Loans individually evaluated Commercial - Purchase $ 515 $ 679 $ 17,839 $ 19,033 $ — $ 19,033 Commercial - Refinance 4,761 8,203 68,240 81,204 81,204 Residential 1-4 Unit - Purchase 147 324 21,260 21,731 — 21,731 Residential 1-4 Unit - Refinance 1,760 2,255 87,353 91,368 — 91,368 Short Term 1-4 Unit - Purchase — — 7,076 7,076 — 7,076 Short Term 1-4 Unit - Refinance — — 35,845 35,845 — 35,845 Total loans individually evaluated $ 7,183 $ 11,461 $ 237,613 $ 256,257 $ — $ 256,257 Loans collectively evaluated Commercial - Purchase $ 19,008 $ 7,126 $ — $ 26,134 $ 677,701 $ 703,835 Commercial - Refinance 39,899 12,110 — 52,009 800,273 852,282 Residential 1-4 Unit - Purchase 14,802 9,081 — 23,883 584,455 608,338 Residential 1-4 Unit - Refinance 46,982 23,643 — 70,625 851,633 922,258 Short Term 1-4 Unit - Purchase 598 500 — 1,098 64,831 65,929 Short Term 1-4 Unit - Refinance 1,593 3,918 — 5,511 36,483 41,994 Total loans collectively evaluated $ 122,882 $ 56,378 $ — $ 179,260 $ 3,015,376 $ 3,194,636 Ending balance $ 130,065 $ 67,839 $ 237,613 $ 435,517 $ 3,015,376 $ 3,450,893 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. 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 September 30, 2022 and December 31, 2021 (in thousands). Term Loans Amortized Cost Basis by Origination Year September 30, 2022: 2022 2021 2020 2019 2018 Pre-2018 Total Commercial - Purchase Payment performance Performing $ 275,946 $ 259,673 $ 38,948 $ 60,485 $ 36,425 $ 32,358 $ 703,835 Nonperforming 503 5,250 1,114 5,746 3,075 3,345 19,033 Total Commercial - Purchase $ 276,449 $ 264,923 $ 40,062 $ 66,231 $ 39,500 $ 35,703 $ 722,868 Commercial - Refinance Payment performance Performing $ 274,678 $ 215,490 $ 56,081 $ 113,984 $ 96,016 $ 96,033 $ 852,282 Nonperforming 1,712 10,682 4,304 21,652 20,718 22,136 81,204 Total Commercial - Refinance $ 276,390 $ 226,172 $ 60,385 $ 135,636 $ 116,734 $ 118,169 $ 933,486 Residential 1-4 Unit - Purchase Payment performance Performing $ 283,941 $ 233,398 $ 11,009 $ 36,342 $ 19,532 $ 24,116 $ 608,338 Nonperforming 2,487 8,589 2,168 1,810 2,112 4,565 21,731 Total Residential 1-4 $ 286,428 $ 241,987 $ 13,177 $ 38,152 $ 21,644 $ 28,681 $ 630,069 Residential 1-4 Unit - Refinance Payment performance Performing $ 401,616 $ 304,684 $ 25,145 $ 92,280 $ 42,422 $ 56,111 $ 922,258 Nonperforming 6,843 16,294 6,765 25,693 18,689 17,084 91,368 Total Residential 1-4 $ 408,459 $ 320,978 $ 31,910 $ 117,973 $ 61,111 $ 73,195 $ 1,013,626 Short Term 1-4 Unit - Purchase Payment performance Performing $ 45,397 $ 1,256 $ 15,206 $ 4,070 $ — $ — $ 65,929 Nonperforming — 4,999 995 977 105 — 7,076 Total Short Term 1-4 $ 45,397 $ 6,255 $ 16,201 $ 5,047 $ 105 $ — $ 73,005 Short Term 1-4 Unit - Refinance Payment performance Performing $ 40,344 $ 153 $ 1,382 $ 115 $ — $ — $ 41,994 Nonperforming — 1,068 10,816 19,044 4,917 — 35,845 Total Short Term 1-4 $ 40,344 $ 1,221 $ 12,198 $ 19,159 $ 4,917 $ — $ 77,839 Total Portfolio $ 1,333,467 $ 1,061,536 $ 173,933 $ 382,198 $ 244,011 $ 255,748 $ 3,450,893 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 $ 67,546 $ 697,326 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 $ 77,677 $ 783,261 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 $ 175,346 $ 2,531,826

Receivables Due From Servicers

Receivables Due From Servicers	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Receivables Due From Servicers	Note 7 — Receivables Due From Servicers The following tables summarize receivables due from servicers as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 Securitizations Warehouse and repurchase facilities and other Total Loan principal payments due from servicers $ 34,368 $ 285 $ 34,653 Other loan servicing receivables 12,048 1,938 13,986 Loan servicing receivables 46,416 2,223 48,639 Corporate and escrow advances receivable 18,263 90 18,353 Total receivables due from servicers $ 64,679 $ 2,313 $ 66,992 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

Mortgage Servicing Rights

Mortgage Servicing Rights	9 Months Ended
	Sep. 30, 2022
Transfers and Servicing [Abstract]
Mortgage Servicing Rights	Note 8 — Mortgage Servicing Rights Mortgage loans serviced are related to the Century business and not included in the consolidated balance sheets. The unpaid principal balance of mortgage loans serviced for others amounted to $ 499.8 million and $ 520.6 million as of September 30, 2022 and December 31, 2021, respectively. 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 September 30, 2022 and December 31, 2021 include: 1) Weighted average discount rate of 8.1 % and 8.0 %, respectively. 2) Weighted average conditional prepayment rate of 5.3 % and 3.2 %, and 3) multiple based on interest rates of 9.9 and 8.3 , respectively. The following table presents the Company's mortgage servicing rights (in thousands): September 30, 2022 December 31, 2021 Balance at the beginning of year $ 7,152 $ — Mortgage servicing rights acquired, at fair value — 7,152 Fair value adjustments 2,716 — Balance at end of period $ 9,868 $ 7,152

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Note 9 — Goodwill The following table presents the activity for goodwill (in thousands): September 30, 2022 December 31, 2021 Balance at the beginning of year $ 6,775 $ — Goodwill acquired — 6,775 Balance at end of period $ 6,775 $ 6,775

Securitizations Net

Securitizations Net	9 Months Ended
	Sep. 30, 2022
Transfers and Servicing [Abstract]
Securitization, Net	Note 10 — Securitizations, Net From May 2011 through September 2022, the Company completed twenty-four sec uritizations, issuing $ 5.2 billion of securities to third parties through twenty-four respective Trusts. The Company is the sole beneficial interest holder of the remaining 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, ranging from July 2045 through July 2052 . The following table summarizes the outstanding balance, net of discounts and deal costs, of the securities and the effective interest rate for the nine months ended September 30, 2022 and 2021 ($ in thousands): Nine Months Ended September 30, Securitizations: 2022 2021 Securitizations, net $ 2,651,895 $ 1,623,674 Interest expense 75,191 55,288 Average outstanding balance 2,331,672 1,574,999 Effective interest rate (1) 4.30 % 4.68 % (1) Represents annualized interest expense divided by average gross outstanding balance and includes average rate of 3.59 % and debt issuance cost amortization of 0.71 % and average rate of 3.97 % and debt issuance cost amortization of 0.71 % for the nine months ended September 30, 2022 and 2021 , respectively.

Other Debt

Other Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Other Debt	Note 11 — Other Debt Secured financings and warehouse facilities were 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. Most of 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 March 15, 2022, the Company entered into a five-year $ 215.0 million syndicated corporate debt agreement, the (“the 2022 Term Loan”). The 2022 Term Loan bears interest at a fixed rate of 7.125 % and matures on March 15, 2027 . Interest on the 2022 Term Loan is paid every six months . A portion of the net proceeds from the 2022 Term Loan was used to redeem all the amounts owed pursuant to the 2021 Term Loan. The remaining portion of the net proceeds from the 2022 Term Loan is used for loan originations and general corporate purposes. As of September 30, 2022, the balance of the 2022 Term Loan was $ 215.0 m illion. The balance in the consolidated balance sheets is net of debt issuance costs of $ 5.5 million as of September 30, 2022. The 2022 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 September 30, 2022, the Company was in compliance with all covenants. (b) Warehouse Repurchase and Revolving Loan Facilities, Net On January 4, 2011 , Century entered into a Master Participation and Facility Agreement with a bank (“the 2011 Facility Agreement”). The Facility Agreement has a current extended maturity date of July 31, 2023 , and is a short-term borrowing facility, collateralized by performing loans, with a maximum capacity of $ 60.0 million, and bears interest at one-month Secured Overnight Financing Rate (“SOFR”) plus 1.60 % with a 0.25 % floor. On August 8, 2016 , Century entered a Promissory Note Revolving Credit Line with a bank (“Revolving Credit Line”). The Revolving Credit Line has a current extended maturity date of July 31, 2023 , and is a short-term unsecured borrowing line, with a maximum capacity of $ 3.0 million, and bears interest at SOFR plus 2.00 % with a 0.25 % floor. 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 $ 300.0 million, and bears interest at SOFR plus 3.50 %. 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 6.9 % and 4.2 % as of September 30, 2022 and December 31, 2021, 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 Rate 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 capacity under this facility is $ 50.0 million. The effective interest rates were 4.8 % and 7.3 % as of September 30, 2022 and December 31, 2021, respectively. 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 maturity date of February 28, 2023 , and is a short-term borrowing facility, collateralized by a pool of loans, with a maximum capacity of $ 200.0 million, and bears interest at SOFR 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 rates were 8.3 % and 5.9 % as of September 30, 2022 and December 31, 2021, respectively. 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. The effective interest rates were 4.0 % and 3.5 % as of September 30, 2022 and December 31, 2021, respectively. 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 interest expense for the quarter ended September 30, 2022 was not reflective of the effective interest rate due to the low outstanding balance. There was no balance outstanding as of 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 September 30, 2022 and December 31, 2021, the Company was in compliance with all covenants. The following table summarizes the maximum borrowing capacity and current gross balances outstanding of the Company’s warehouse facilities and loan agreements as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 December 31, 2021 Period end (1) Maximum Period end (1) Maximum The 2021 term repurchase agreement $ 47,777 $ 100,000 $ 41,636 $ 100,000 The 2021 repurchase agreement 93,915 200,000 82,580 200,000 The July 2021 term repurchase agreement 1,632 100,000 — 100,000 The 2013 repurchase agreement 138,776 300,000 153,499 200,000 The bank credit agreement 43,120 50,000 22,385 50,000 The 2019 loan agreement — — 2,700 3,000 The 2011 facility agreement 16,192 60,000 — — Total $ 341,412 $ 810,000 $ 302,800 $ 653,000 (1) Warehouse repurchase facilities amounts in the consolidated balance sheets are net of debt issuance costs amounting to $ 1.4 million and $ 1.7 million as of September 30, 2022 and December 31, 2021 , respectively. The following table provides an overview of the activity and effective interest rate for the three and nine months ended September 30, 2022 and 2021 ($ in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Warehouse and repurchase facilities: Average outstanding balance $ 226,660 $ 182,383 $ 294,622 $ 154,297 Highest outstanding balance at any month-end 341,412 259,744 426,959 281,690 Effective interest rate (1) 6.70 % 5.19 % 5.28 % 5.56 % (1) Effective interest rate represents annualized interest expense divided by average gross outstanding balance. The rate includes average rate of 5.90 % and debt issuance cost amortization of 0.80 %, and average rate of 4.00 % and debt issuance cost amortization of 1.19 %, for the three months ended September 30, 2022 and 2021, respectively, and includes average rate o f 4.66 % a nd debt issuance cost amortization o f 0.62 % , and average rate 4.35 % and debt issuance cost amortization 1.21 % for the nine months ended September 30, 2022 and 2021 , 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 three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Warehouse and repurchase facilities $ 3,798 $ 2,365 $ 11,678 $ 6,433 Securitizations 30,763 17,956 75,191 55,287 Interest expense — portfolio related 34,561 20,321 86,869 61,720 Interest expense — corporate debt 4,011 4,488 25,333 (1) 16,147 (2) Total interest expense $ 38,572 $ 24,809 $ 112,202 $ 77,867 (1) Included in the $ 25.3 million of interest expense – corporate debt for the nine months ended September 30, 2022 was the one-time debt issuance costs write-off of $ 7.7 million and prepayment penalties of $ 5.1 million associated with the repayment of $ 170.8 million in outstanding principal amount in March 2022. (2) Included in the $ 16.1 million of interest expense – corporate debt for the nine months ended September 30, 2021 was the one-time debt issuance costs write-off of $ 2.9 million and prepayment fee of $ 1.6 million associated with the payoff of $ 78.0 million in outstanding principal amount in February 2021.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12 — 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 updates the estimated repurchase liability. The level of the repurchase liability for representations and warranties and early payment default requires considerable management judgment. As of September 30, 2022 and December 31, 2021, the balance of repurchase liabili ty was $ 158 thousand and $ 141 thousand, respectively, and it is included in accounts payable and accrued expenses in the consolidated balance sheets. (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 condition or results of operations.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 13 — Stock-Based Compensation The Company’s Amended and Restated 2020 Omnibus Incentive Plan, or the 2020 Plan, authorizes grants of stock‑based compensation instruments to purchase or issue up to 2,770,000 shares of Company common stock. 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 . 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. In February 2022, the Company issued 125,250 shares of restricted stock awards and 102,750 shares of performance stock unit awards to certain employees, including named executive officers at no cost to employees. In May 2022, the Company issued 31,215 shares of restricted stock awards to certain non-employee directors. Restricted stock-based awards vest ratably over a service period of three years from the date of the grant. Performance-based stock unit awards are linked to the average core net income annual growth over the three-year period of 2022 – 2024. Settlement of vested performance-based stock units will be made on the date that the Compensation Committee certifies the average core net income annual growth for the three-year period. Compensation expense related to restricted stock-based awards 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 performance-based stock unit awards is based on the fair value of the underlying stock on the award date and is recognized over the vesting period using an estimate of the probability of achieving the performance target. The estimates will be reviewed quarterly, and the expense adjusted accordingly. The Company has an Employee Stock Purchase Plan ("ESPP") which allows permitted eligible employees to purchase shares of the Company's common stock through payroll deductions of up to 15 % of their eligible compensation, subject to certain limitations beginning July 2022. The purchase price of the shares under the ESPP equals 85 % of the lower of the fair market value of the Company's common stock on either the first or last day of each six-month offering period. Compensation expense is calculated as of the beginning of the offering period as the fair value of the employees’ purchase rights utilizing the Black-Scholes option valuation model and is recognized as a compensation expense over the offering period. The Company recognized $ 0.9 million and $ 0.5 million compensation expense related to the outstanding stock options, unvested restricted stock awards, ESPP, and unvested performance-based stock unit awards granted to employees for the three months ended September 30, 2022 and 2021, 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, restricted stock awards, ESPP, and performance-based stock unit awards totaled $ 4.6 millio n and $ 4.2 million as of September 30, 2022 and 2021, respectively. Treasury share purchases represent shares surrendered to the Company equal in value to the statutory payroll tax withholding obligations arising from the vesting of employee restricted stock awards. No shares were purchased during the three months ended September 30, 2022. During the three months ended March 31, 2022, the Company purchased treasury shares of 33,647 at an average price of $ 13.61 per share.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Note 14 — Earnings 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 earnings per share calculations for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands, except per share data) (In thousands, except per share data) Basic EPS: Net income attributable to common stockholders $ 9,983 $ 8,022 $ 23,749 $ 20,871 Less: undistributed earnings attributable to participating securities 152 3,030 362 7,884 Net earnings attributable to common stock $ 9,831 $ 4,992 $ 23,387 $ 12,987 Weighted average common shares outstanding 31,922 20,090 31,910 20,088 Basic earnings per common share $ 0.31 $ 0.25 $ 0.73 $ 0.65 Diluted EPS: Net income attributable to common stockholders $ 9,983 $ 8,022 $ 23,749 $ 20,871 Weighted average common shares outstanding 31,922 20,090 31,910 20,088 Add dilutive effects for assumed conversion of Series A preferred stock — 11,688 — 11,688 Add dilutive effects for warrants 2,061 2,157 2,058 1,909 Add dilutive effects for stock options 6 5 5 2 Add dilutive effects of unvested restricted stock awards 210 272 180 171 Weighted average diluted common shares outstanding 34,199 34,212 34,153 33,858 Diluted income per common share $ 0.29 $ 0.23 $ 0.70 $ 0.62 The following table sets forth the number of shares excluded from the computation of diluted earnings per share, as their inclusion would have been anti-dilutive (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock options 773 773 773 773 Share equivalents excluded from EPS 773 773 773 773

Convertible Preferred Stock

Convertible Preferred Stock	9 Months Ended
	Sep. 30, 2022
Convertible Preferred Stock [Abstract]
Convertible Preferred Stock	Note 15 — Convertible Preferred Stock On April 7, 2020, the Company issued and sold in a private placement Series A Convertible Preferred Stock plus warrants (the “Warrants”) to purchase additional 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. The Warrants are exercisable at the warrant holder’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 2,008,749 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 warrant holder together with its affiliates would beneficially own 49 % or more of the Company’s outstanding common stock.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 16 — Fair Value Measurements 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: o Level 1 - Valuation is based on quoted prices for identical instruments traded in active markets. o 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. o 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. 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. 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. Collateral Dependent or Loans Individually Evaluated Nonaccrual loans held for investment are evaluated individually and are adjusted to the fair value of the collateral when the fair value of the collateral is below the carrying value of the loan. 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. 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. Loans Held for Sale, at Fair Value The Company has elected to account for certain loans originated with the intent to sell to Ginnie Mae at fair value (the FVO Loans held for sale) using FASB ASC Topic 825, Financial Instruments (ASC 825). The FVO loans held for sale are measured based on the fair value of securities backed by similar mortgage loans, adjusted for certain factors to approximate the fair value, including the value attributable to mortgage servicing and credit risk, and current commitments to purchase loans, a Level 2 measurement. 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. 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. 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 third-party loan valuation 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. 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. 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. 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. 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. Securitizations, Net The fair value estimate of securities issued is based on third-party valuation models that calculate estimated cash flows discounted at an appropriate market rate, a Level 3 measurement. 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. 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. Fair Value Disclosures The following tables present information on assets measured and recorded at fair value as of September 30, 2022 and December 31, 2021, by level, in the fair value hierarchy (in thousands): Fair value measurements using Total at September 30, 2022 Level 1 Level 2 Level 3 fair value Recurring fair value measurements: Loans held for sale, at fair value $ — $ 16,569 $ — $ 16,569 Loans held for investment, at fair value — — 926 926 Mortgage servicing rights — — 9,868 9,868 Total recurring fair value measurements — 16,569 10,794 27,363 Nonrecurring fair value measurements: Real estate owned, net — — 13,188 13,188 Individually evaluated loans requiring specific allowance, net — — 10,347 10,347 Total nonrecurring fair value measurements — — 23,535 23,535 Total assets $ — $ 16,569 $ 34,329 $ 50,898 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 Impaired loans requiring specific allowance, net — — 11,987 11,987 Total nonrecurring fair value measurements — — 116,966 116,966 Total assets $ — $ — $ 125,477 $ 125,477 The following table presents gains and losses recognized on assets measured on a nonrecurring basis for the three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Gain (loss) on assets measured on a nonrecurring basis 2022 2021 2022 2021 Loans held for sale, net $ — $ 15 $ — $ 17 Real estate held for sale, net ( 369 ) ( 384 ) ( 276 ) ( 1,619 ) Individually evaluated loans requiring specific allowance, net 290 172 532 893 Total net gain (loss) $ ( 79 ) $ ( 197 ) $ 256 $ ( 709 ) The following tables present the primary valuation techniques and unobservable inputs related to Level 3 assets as of September 30, 2022 and December 31, 2021 ($ in thousands): September 30, 2022 Asset category Fair value Primary Unobservable Range Weighted Individually evaluated $ 10,347 Market comparables Selling costs 8.0 % 8.0 % Real estate owned, net 13,188 Market comparables Selling costs 8.0 % 8.0 % Loans held for investment, 926 Discounted cash flow Discount rate 7.2 % 7.2 % Collateral value (% of UPB) 96.3 % to 119.5 % 107.0 % Timing of resolution/payoff (months) 1 to 40 37.0 Prepayment rate 1.0 % to 30.0 % 30.0 % Default rate 0.1 % to 6.5 % 0.6 % Loss severity rate 0.0 % to 20.9 % 4.0 % Mortgage servicing rights 9,868 Discounted cash flow Discount rate 8.0 % to 8.2 % 8.1 % Prepayment rate 3.5 % to 10.5 % 5.3 % Interest rate multiples 0.4 to 35.6 9.9 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 investment, 1,359 Discounted cash flow Discount rate 5.8 % 5.8 % Collateral value (% of UPB) 95.0 % to 120.0 % 106.0 % Timing of resolution/payoff (months) 1 to 38 34.8 Prepayment rate 19.2 % to 50 % 30.0 % 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 (months) 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 % The following is a rollforward of loans held for investment that are measured at estimated fair value on a recurring basis for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Beginning balance $ 1,351 $ 1,370 $ 1,359 $ 1,539 Loans liquidated ( 12 ) — ( 36 ) ( 163 ) Principal paydowns ( 416 ) ( 10 ) ( 416 ) ( 34 ) Total unrealized gain included in net income 3 — 19 18 Ending balance $ 926 $ 1,360 $ 926 $ 1,360 The following is a rollforward of loans held for sale that are measured at estimated fair value on a recurring basis for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Beginning balance $ — $ — $ — $ — Loans originated 16,119 — 16,119 — Total unrealized gain included in net income 450 — 450 — Ending balance $ 16,569 $ — $ 16,569 $ — The following is a rollforward of interest-only strips that are measured at estimated fair value on a recurring basis for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Beginning balance $ — $ 81 $ — $ 238 Interest-only strip additions — — — — Interest-only strip write-offs — ( 65 ) — ( 222 ) Total unrealized loss included in net income — — — — Ending balance $ — $ 16 $ — $ 16 The Company estimates the fair value of certain financial instruments on a quarterly basis. These instruments are recorded at fair value through the use of a valuation allowance only if they are individually evaluated. 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 September 30, 2022 and December 31, 2021, the only financial assets measured at fair value, or lower of cost or fair value, were certain individually evaluated loans held for investment, loans held for sale, mortgage servicing rights, 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. Individually evaluated loans requiring an allowance were carried at approximatel y $ 10.3 million and $ 12.0 million as of September 30, 2022 and December 31, 2021 , net of specific allowance for credit losses of approximately $ 0.9 million and $ 1.4 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): September 30, 2022 Carrying Estimated Asset category Value Level 1 Level 2 Level 3 Fair Value Assets: Cash $ 26,372 $ 26,372 $ — $ — $ 26,372 Restricted cash 14,533 14,533 — — 14,533 Loans held for sale, at fair value 16,569 — 16,569 — 16,569 Loans held for investment, net 3,445,563 — — 3,538,544 3,538,544 Loans held for investment, at fair value 926 — — 926 926 Accrued interest receivables 18,333 18,333 — — 18,333 Mortgage servicing rights 9,868 — — 9,868 9,868 Liabilities: Secured financing, net $ 209,537 $ — $ — $ 211,123 $ 211,123 Warehouse repurchase facilities, net 340,050 — 340,050 — 340,050 Securitizations, net 2,651,895 — — 2,451,412 2,451,412 Accrued interest payable 10,917 10,917 — — 10,917 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 receivable 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 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

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 17 — Subsequent Events On October 7, 2022, the Company completed the securitization of $ 254.2 million of investor real estate loans, which will be accounted for as secured borrowings during the quarter ended December 31, 2022. The Company has evaluated events that have occurred subsequent to September 30, 2022 through the issuance of the accompanying consolidated financial statements and has concluded there are no other subsequent events that would require recognition or disclosure in the accompanying consolidated financial statements.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Use of Estimates	(a) 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.
Significant Accounting Policies	(b) Significant Accounting Policies The Company’s significant accounting policies are described in Note 2 — Basis of Presentation and Summary of Significant Accounting Policies , of its audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2021 as filed with the Securities and Exchange Commission. There have been no significant changes to the Company’s significant accounting policies as described in its 2021 Annual Report, other than the election of fair value option accounting on certain loans originated with the intent to sell to Ginnie Mae.
Principles of Consolidation	(c) 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 September 30, 2022 and December 31, 2021 include only those assets, liabilities, and results of operations related to the business of the Company, its subsidiaries, and VIEs.

Cash, Cash Equivalents, and R_2

Cash, Cash Equivalents, and Restricted Cash (Tables)	9 Months Ended
	Sep. 30, 2022
Cash and Cash Equivalents [Abstract]
Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash	The Company is required to hold cash for potential future advances due to certain borrowers. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company’s consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows for the nine months ended September 30, 2022 and 2021 (in thousands): September 30, 2022 2021 Cash and cash equivalents $ 26,372 $ 35,497 Restricted cash 14,533 9,586 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 40,905 $ 45,083

Loans Held for Sale and Loans_2

Loans Held for Sale and Loans Held for Sale at Fair Value (Tables)	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Summary of Loans Held for Sale and at Fair Value	The following table summarizes loans held for sale as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 Loans held for sale, net Loans held for sale, at fair value Total loans held for sale Unpaid principal balance $ — $ 16,119 $ 16,119 Valuation adjustments on FVO loans held for sale — 450 450 Total loans held for sale and loans held for sale at $ — $ 16,569 $ 16,569 December 31, 2021 Loans held for sale, net Loans held for sale, at fair value Total loans held for sale Unpaid principal balance $ 87,422 $ — $ 87,422 Deferred loan origination costs 486 — 486 Total loans held for sale, net $ 87,908 $ — $ 87,908

Loans Held for Investment and_2

Loans Held for Investment and Loans Held for Investment at Fair Value (Tables)	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Summary of Loans Held for Investment	The following tables summarize loans held for investment as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 Loans held for investment, net Loans held for investment, at fair value Total loans held for investment Unpaid principal balance $ 3,415,468 $ 880 $ 3,416,348 Valuation adjustments on FVO loans — 46 46 Deferred loan origination costs 35,425 — 35,425 3,450,893 926 3,451,819 Allowance for loan losses ( 5,330 ) — ( 5,330 ) Total loans held for investment and loans held for investment at $ 3,445,563 $ 926 $ 3,446,489 December 31, 2021 Loans held for investment, net Loans held for investment, at fair value Total loans held for 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 and loans held for investment at $ 2,527,564 $ 1,359 $ 2,528,923
Summary of UPB and Amortized Cost Basis of Loans in COVID-19 Forbearance Program	The following tables summarize the Unpaid Principal Balance (“UPB”) and amortized cost basis of loans in the Company's COVID-19 forbearance program for the three and nine months ended September 30, 2022 and the year ended December 31, 2021 ($ in thousands): Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 UPB % Amortized Cost % UPB % Amortized Cost % Beginning balance $ 236,314 $ 239,073 $ 292,429 $ 295,990 Foreclosures — — ( 1,427 ) ( 1,438 ) Repayments ( 18,796 ) ( 18,998 ) ( 73,484 ) ( 74,477 ) Ending balance $ 217,518 $ 220,075 $ 217,518 $ 220,075 Performing/Accruing $ 175,160 80.5 % $ 177,256 80.5 % $ 175,160 80.5 % $ 177,256 80.5 % Nonperforming/Nonaccrual $ 42,358 19.5 % $ 42,819 19.5 % $ 42,358 19.5 % $ 42,819 19.5 % 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 %
Schedule of Loans Held for Investment Pledged as Collateral for Warehouse Facilities and Securitizations Issued	As of September 30, 2022 and December 31, 2021, the gross unpaid principal balances of loans held for investment pledged as collateral for the Company’s warehouse facilities and securitizations issued were as follows (in thousands): September 30, 2022 December 31, 2021 The 2013 repurchase agreement $ 174,201 $ 202,511 The 2021 repurchase agreement 119,604 114,072 The Bank credit agreement 57,470 30,959 The 2021 term repurchase agreement 68,048 53,217 The July 2021 term repurchase agreement 2,196 — Total pledged loans $ 421,519 $ 400,759 2015-1 Trust $ — $ 31,931 2016-1 Trust 40,218 52,623 2017-2 Trust 69,464 94,809 2018-1 Trust 52,435 71,051 2018-2 Trust 112,668 154,974 2019-1 Trust 107,898 144,727 2019-2 Trust 97,898 132,358 2019-3 Trust 80,698 103,266 2020-1 Trust 153,419 189,547 2020-2 Trust 82,979 98,403 2020-MC1 Trust — 134,957 2021-1 Trust 217,170 249,396 2021-2 Trust 181,098 198,039 2021-3 Trust 184,234 202,138 2021-4 Trust 285,214 314,547 2022-1 Trust 265,723 — 2022-2 Trust 248,574 — 2022-MC1 Trust 101,143 — 2022-3 Trust 302,862 — 2022-4 Trust 330,071 — Total $ 2,913,766 $ 2,172,766
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 September 30, 2022 and December 31, 2021. There were no loans accruing interest that were greater than 90 days past due as of September 30, 2022 and December 31, 2021. September 30, 2022 Total Nonaccrual with No Allowance for Loan Loss Nonaccrual with Allowance for Loan Loss Allowance for Loans Individually Evaluated % of Allowance to Total Nonaccrual Loans with Allowance ($ in thousands) Commercial - Purchase $ 19,033 $ 18,770 $ 263 $ 6 0.1 % Commercial - Refinance 81,204 77,319 3,885 369 3.3 Residential 1-4 Unit - Purchase 21,731 21,263 468 118 1.1 Residential 1-4 Unit - Refinance 91,368 89,200 2,168 176 1.6 Short Term 1-4 Unit - Purchase 7,076 7,076 — — — Short Term 1-4 Unit - Refinance 35,845 31,408 4,437 205 1.8 Total $ 256,257 $ 245,036 $ 11,221 $ 874 7.8 % Troubled Debt Restructuring included $ — $ — $ — $ — — 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 Loans with Allowance ($ in thousands) 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 —
Schedule of Accrued Interest Receivables Written Off by Reversing Interest Income by Portfolio Segment	The following tables present the amortized cost basis in the loans held for investment, excluding loans held for investment at fair value, as of September 30, 2022 and 2021, and the amount of accrued interest receivables written off by reversing interest income by portfolio segment for the three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, 2022 2021 Amortized Cost Interest Reversal Amortized Cost Interest Reversal Commercial - Purchase $ 722,868 $ 207 $ 426,483 $ 114 Commercial - Refinance 933,486 328 710,201 146 Residential 1-4 Unit - Purchase 630,069 93 340,611 33 Residential 1-4 Unit - Refinance 1,013,626 326 671,703 368 Short Term 1-4 Unit - Purchase 73,005 134 50,758 103 Short Term 1-4 Unit - Refinance 77,839 67 99,969 165 Total $ 3,450,893 $ 1,155 $ 2,299,725 $ 929 Nine Months Ended September 30, 2022 2021 Amortized Cost Interest Reversal Amortized Cost Interest Reversal Commercial - Purchase $ 722,868 $ 400 $ 426,483 $ 306 Commercial - Refinance 933,486 915 710,201 838 Residential 1-4 Unit - Purchase 630,069 374 340,611 154 Residential 1-4 Unit - Refinance 1,013,626 892 671,703 1,169 Short Term 1-4 Unit - Purchase 73,005 159 50,758 788 Short Term 1-4 Unit - Refinance 77,839 437 99,969 523 Total $ 3,450,893 $ 3,177 $ 2,299,725 $ 3,778
Schedule of Activity in Allowance for Credit Losses	The following tables present the activity in the allowance for credit losses for the three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, 2022 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 - July 1, 2022 $ 612 $ 1,996 $ 440 $ 1,270 $ 34 $ 553 $ 4,905 Provision for loan losses 78 66 182 227 9 18 580 Charge-offs — — ( 7 ) — — ( 148 ) ( 155 ) Ending balance $ 690 $ 2,062 $ 615 $ 1,497 $ 43 $ 423 $ 5,330 Allowance related to: Loans individually evaluated $ 6 $ 369 $ 118 $ 176 $ — $ 205 $ 874 Loans collectively evaluated $ 684 $ 1,693 $ 497 $ 1,321 $ 43 $ 218 $ 4,456 Amortized cost related to: Loans individually evaluated $ 19,033 $ 81,204 $ 21,731 $ 91,368 $ 7,076 $ 35,845 $ 256,257 Loans collectively evaluated $ 703,835 $ 852,282 $ 608,338 $ 922,258 $ 65,929 $ 41,994 $ 3,194,636 Three Months Ended September 30, 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: Beginning Balance - July 1, 2021 $ 262 $ 1,923 $ 281 $ 847 $ 73 $ 577 $ 3,963 Provision for loan losses — 44 27 68 62 27 228 Charge-offs — ( 18 ) — ( 43 ) — ( 102 ) ( 163 ) Ending balance $ 262 $ 1,949 $ 308 $ 872 $ 135 $ 502 $ 4,028 Allowance related to: Loans individually evaluated $ 12 $ 938 $ 96 $ 261 $ 110 $ 359 $ 1,776 Loans collectively evaluated $ 250 $ 1,010 $ 212 $ 611 $ 25 $ 144 $ 2,252 Amortized cost related to: Loans individually evaluated $ 20,707 $ 84,324 $ 18,419 $ 114,785 $ 5,982 $ 47,591 $ 291,808 Loans collectively evaluated $ 405,776 $ 625,877 $ 322,192 $ 556,918 $ 44,776 $ 52,378 $ 2,007,917 Nine Months Ended September 30, 2022 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 - January 1, 2022 $ 385 $ 2,144 $ 400 $ 948 $ 43 $ 342 $ 4,262 Provision for loan losses 452 ( 57 ) 222 654 — 318 1,589 Charge-offs ( 147 ) ( 25 ) ( 7 ) ( 105 ) — ( 237 ) ( 521 ) Ending balance $ 690 $ 2,062 $ 615 $ 1,497 $ 43 $ 423 $ 5,330 Allowance related to: Loans individually evaluated $ 6 $ 369 $ 118 $ 176 $ — $ 205 $ 874 Loans collectively evaluated $ 684 $ 1,693 $ 497 $ 1,321 $ 43 $ 218 $ 4,456 Amortized cost related to: Loans individually evaluated $ 19,033 $ 81,204 $ 21,731 $ 91,368 $ 7,076 $ 35,845 $ 256,257 Loans collectively evaluated $ 703,835 $ 852,282 $ 608,338 $ 922,258 $ 65,929 $ 41,994 $ 3,194,636 Nine Months Ended September 30, 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: Beginning Balance - January 1, 2021 $ 373 $ 2,093 $ 333 $ 1,216 $ 595 $ 1,235 $ 5,845 Provision for loan losses 3 ( 31 ) 12 ( 150 ) ( 446 ) ( 56 ) ( 668 ) Charge-offs ( 114 ) ( 113 ) ( 37 ) ( 194 ) ( 14 ) ( 677 ) ( 1,149 ) Ending balance $ 262 $ 1,949 $ 308 $ 872 $ 135 $ 502 $ 4,028 Allowance related to: Loans individually evaluated $ 12 $ 938 $ 96 $ 261 $ 110 $ 359 $ 1,776 Loans collectively evaluated $ 250 $ 1,010 $ 212 $ 611 $ 25 $ 144 $ 2,252 Amortized cost related to: Loans individually evaluated $ 20,707 $ 84,324 $ 18,419 $ 114,785 $ 5,982 $ 47,591 $ 291,808 Loans collectively evaluated $ 405,776 $ 625,877 $ 322,192 $ 556,918 $ 44,776 $ 52,378 $ 2,007,917
Schedule of Aging Status of Amortized Cost Basis in Loans Held for Investment Portfolio	The following table presents the aging status of the amortized cost basis in the loans held for investment portfolio, excluding loans held for investment at fair value, which include $ 220.0 million and $ 296.0 million loans in the Company’s COVID-19 forbearance program as of September 30, 2022 and December 31, 2021, respectively (in thousands): 30–59 days 60–89 days 90+days Total Total September 30, 2022 past due past due past due (1) past due Current loans Loans individually evaluated Commercial - Purchase $ 515 $ 679 $ 17,839 $ 19,033 $ — $ 19,033 Commercial - Refinance 4,761 8,203 68,240 81,204 81,204 Residential 1-4 Unit - Purchase 147 324 21,260 21,731 — 21,731 Residential 1-4 Unit - Refinance 1,760 2,255 87,353 91,368 — 91,368 Short Term 1-4 Unit - Purchase — — 7,076 7,076 — 7,076 Short Term 1-4 Unit - Refinance — — 35,845 35,845 — 35,845 Total loans individually evaluated $ 7,183 $ 11,461 $ 237,613 $ 256,257 $ — $ 256,257 Loans collectively evaluated Commercial - Purchase $ 19,008 $ 7,126 $ — $ 26,134 $ 677,701 $ 703,835 Commercial - Refinance 39,899 12,110 — 52,009 800,273 852,282 Residential 1-4 Unit - Purchase 14,802 9,081 — 23,883 584,455 608,338 Residential 1-4 Unit - Refinance 46,982 23,643 — 70,625 851,633 922,258 Short Term 1-4 Unit - Purchase 598 500 — 1,098 64,831 65,929 Short Term 1-4 Unit - Refinance 1,593 3,918 — 5,511 36,483 41,994 Total loans collectively evaluated $ 122,882 $ 56,378 $ — $ 179,260 $ 3,015,376 $ 3,194,636 Ending balance $ 130,065 $ 67,839 $ 237,613 $ 435,517 $ 3,015,376 $ 3,450,893 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.
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 September 30, 2022 and December 31, 2021 (in thousands). Term Loans Amortized Cost Basis by Origination Year September 30, 2022: 2022 2021 2020 2019 2018 Pre-2018 Total Commercial - Purchase Payment performance Performing $ 275,946 $ 259,673 $ 38,948 $ 60,485 $ 36,425 $ 32,358 $ 703,835 Nonperforming 503 5,250 1,114 5,746 3,075 3,345 19,033 Total Commercial - Purchase $ 276,449 $ 264,923 $ 40,062 $ 66,231 $ 39,500 $ 35,703 $ 722,868 Commercial - Refinance Payment performance Performing $ 274,678 $ 215,490 $ 56,081 $ 113,984 $ 96,016 $ 96,033 $ 852,282 Nonperforming 1,712 10,682 4,304 21,652 20,718 22,136 81,204 Total Commercial - Refinance $ 276,390 $ 226,172 $ 60,385 $ 135,636 $ 116,734 $ 118,169 $ 933,486 Residential 1-4 Unit - Purchase Payment performance Performing $ 283,941 $ 233,398 $ 11,009 $ 36,342 $ 19,532 $ 24,116 $ 608,338 Nonperforming 2,487 8,589 2,168 1,810 2,112 4,565 21,731 Total Residential 1-4 $ 286,428 $ 241,987 $ 13,177 $ 38,152 $ 21,644 $ 28,681 $ 630,069 Residential 1-4 Unit - Refinance Payment performance Performing $ 401,616 $ 304,684 $ 25,145 $ 92,280 $ 42,422 $ 56,111 $ 922,258 Nonperforming 6,843 16,294 6,765 25,693 18,689 17,084 91,368 Total Residential 1-4 $ 408,459 $ 320,978 $ 31,910 $ 117,973 $ 61,111 $ 73,195 $ 1,013,626 Short Term 1-4 Unit - Purchase Payment performance Performing $ 45,397 $ 1,256 $ 15,206 $ 4,070 $ — $ — $ 65,929 Nonperforming — 4,999 995 977 105 — 7,076 Total Short Term 1-4 $ 45,397 $ 6,255 $ 16,201 $ 5,047 $ 105 $ — $ 73,005 Short Term 1-4 Unit - Refinance Payment performance Performing $ 40,344 $ 153 $ 1,382 $ 115 $ — $ — $ 41,994 Nonperforming — 1,068 10,816 19,044 4,917 — 35,845 Total Short Term 1-4 $ 40,344 $ 1,221 $ 12,198 $ 19,159 $ 4,917 $ — $ 77,839 Total Portfolio $ 1,333,467 $ 1,061,536 $ 173,933 $ 382,198 $ 244,011 $ 255,748 $ 3,450,893 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 $ 67,546 $ 697,326 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 $ 77,677 $ 783,261 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 $ 175,346 $ 2,531,826

Receivables Due From Servicers

Receivables Due From Servicers (Tables)	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Summary of Receivables Due from Servicers	The following tables summarize receivables due from servicers as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 Securitizations Warehouse and repurchase facilities and other Total Loan principal payments due from servicers $ 34,368 $ 285 $ 34,653 Other loan servicing receivables 12,048 1,938 13,986 Loan servicing receivables 46,416 2,223 48,639 Corporate and escrow advances receivable 18,263 90 18,353 Total receivables due from servicers $ 64,679 $ 2,313 $ 66,992 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

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	9 Months Ended
	Sep. 30, 2022
Transfers and Servicing [Abstract]
Summary of Mortgage Servicing Rights	The following table presents the Company's mortgage servicing rights (in thousands): September 30, 2022 December 31, 2021 Balance at the beginning of year $ 7,152 $ — Mortgage servicing rights acquired, at fair value — 7,152 Fair value adjustments 2,716 — Balance at end of period $ 9,868 $ 7,152

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Activity for Goodwill	The following table presents the activity for goodwill (in thousands): September 30, 2022 December 31, 2021 Balance at the beginning of year $ 6,775 $ — Goodwill acquired — 6,775 Balance at end of period $ 6,775 $ 6,775

Securitizations Net (Tables)

Securitizations Net (Tables)	9 Months Ended
	Sep. 30, 2022
Transfers and Servicing [Abstract]
Summary of Outstanding Balance Net of Discounts and Deals Costs of Securities and Effective Interest Rate	The following table summarizes the outstanding balance, net of discounts and deal costs, of the securities and the effective interest rate for the nine months ended September 30, 2022 and 2021 ($ in thousands): Nine Months Ended September 30, Securitizations: 2022 2021 Securitizations, net $ 2,651,895 $ 1,623,674 Interest expense 75,191 55,288 Average outstanding balance 2,331,672 1,574,999 Effective interest rate (1) 4.30 % 4.68 % (1) Represents annualized interest expense divided by average gross outstanding balance and includes average rate of 3.59 % and debt issuance cost amortization of 0.71 % and average rate of 3.97 % and debt issuance cost amortization of 0.71 % for the nine months ended September 30, 2022 and 2021 , respectively.

Other Debt (Tables)

Other Debt (Tables)	9 Months Ended
	Sep. 30, 2022
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 of the Company’s warehouse facilities and loan agreements as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 December 31, 2021 Period end (1) Maximum Period end (1) Maximum The 2021 term repurchase agreement $ 47,777 $ 100,000 $ 41,636 $ 100,000 The 2021 repurchase agreement 93,915 200,000 82,580 200,000 The July 2021 term repurchase agreement 1,632 100,000 — 100,000 The 2013 repurchase agreement 138,776 300,000 153,499 200,000 The bank credit agreement 43,120 50,000 22,385 50,000 The 2019 loan agreement — — 2,700 3,000 The 2011 facility agreement 16,192 60,000 — — Total $ 341,412 $ 810,000 $ 302,800 $ 653,000 (1) Warehouse repurchase facilities amounts in the consolidated balance sheets are net of debt issuance costs amounting to $ 1.4 million and $ 1.7 million as of September 30, 2022 and December 31, 2021 , respectively.
Schedule of Activity and Effective Interest Rate	The following table provides an overview of the activity and effective interest rate for the three and nine months ended September 30, 2022 and 2021 ($ in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Warehouse and repurchase facilities: Average outstanding balance $ 226,660 $ 182,383 $ 294,622 $ 154,297 Highest outstanding balance at any month-end 341,412 259,744 426,959 281,690 Effective interest rate (1) 6.70 % 5.19 % 5.28 % 5.56 % (1) Effective interest rate represents annualized interest expense divided by average gross outstanding balance. The rate includes average rate of 5.90 % and debt issuance cost amortization of 0.80 %, and average rate of 4.00 % and debt issuance cost amortization of 1.19 %, for the three months ended September 30, 2022 and 2021, respectively, and includes average rate o f 4.66 % a nd debt issuance cost amortization o f 0.62 % , and average rate 4.35 % and debt issuance cost amortization 1.21 % for the nine months ended September 30, 2022 and 2021 , 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 three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Warehouse and repurchase facilities $ 3,798 $ 2,365 $ 11,678 $ 6,433 Securitizations 30,763 17,956 75,191 55,287 Interest expense — portfolio related 34,561 20,321 86,869 61,720 Interest expense — corporate debt 4,011 4,488 25,333 (1) 16,147 (2) Total interest expense $ 38,572 $ 24,809 $ 112,202 $ 77,867 (1) Included in the $ 25.3 million of interest expense – corporate debt for the nine months ended September 30, 2022 was the one-time debt issuance costs write-off of $ 7.7 million and prepayment penalties of $ 5.1 million associated with the repayment of $ 170.8 million in outstanding principal amount in March 2022. (2) Included in the $ 16.1 million of interest expense – corporate debt for the nine months ended September 30, 2021 was the one-time debt issuance costs write-off of $ 2.9 million and prepayment fee of $ 1.6 million associated with the payoff of $ 78.0 million in outstanding principal amount in February 2021.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share Calculations	The following table presents the basic and diluted earnings per share calculations for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands, except per share data) (In thousands, except per share data) Basic EPS: Net income attributable to common stockholders $ 9,983 $ 8,022 $ 23,749 $ 20,871 Less: undistributed earnings attributable to participating securities 152 3,030 362 7,884 Net earnings attributable to common stock $ 9,831 $ 4,992 $ 23,387 $ 12,987 Weighted average common shares outstanding 31,922 20,090 31,910 20,088 Basic earnings per common share $ 0.31 $ 0.25 $ 0.73 $ 0.65 Diluted EPS: Net income attributable to common stockholders $ 9,983 $ 8,022 $ 23,749 $ 20,871 Weighted average common shares outstanding 31,922 20,090 31,910 20,088 Add dilutive effects for assumed conversion of Series A preferred stock — 11,688 — 11,688 Add dilutive effects for warrants 2,061 2,157 2,058 1,909 Add dilutive effects for stock options 6 5 5 2 Add dilutive effects of unvested restricted stock awards 210 272 180 171 Weighted average diluted common shares outstanding 34,199 34,212 34,153 33,858 Diluted income per common share $ 0.29 $ 0.23 $ 0.70 $ 0.62
Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share	The following table sets forth the number of shares excluded from the computation of diluted earnings per share, as their inclusion would have been anti-dilutive (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock options 773 773 773 773 Share equivalents excluded from EPS 773 773 773 773

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and December 31, 2021, by level, in the fair value hierarchy (in thousands): Fair value measurements using Total at September 30, 2022 Level 1 Level 2 Level 3 fair value Recurring fair value measurements: Loans held for sale, at fair value $ — $ 16,569 $ — $ 16,569 Loans held for investment, at fair value — — 926 926 Mortgage servicing rights — — 9,868 9,868 Total recurring fair value measurements — 16,569 10,794 27,363 Nonrecurring fair value measurements: Real estate owned, net — — 13,188 13,188 Individually evaluated loans requiring specific allowance, net — — 10,347 10,347 Total nonrecurring fair value measurements — — 23,535 23,535 Total assets $ — $ 16,569 $ 34,329 $ 50,898 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 Impaired loans requiring specific allowance, net — — 11,987 11,987 Total nonrecurring fair value measurements — — 116,966 116,966 Total assets $ — $ — $ 125,477 $ 125,477
Schedule of Gains and Losses Recognized on Assets Measured on Nonrecurring Basis	The following table presents gains and losses recognized on assets measured on a nonrecurring basis for the three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Gain (loss) on assets measured on a nonrecurring basis 2022 2021 2022 2021 Loans held for sale, net $ — $ 15 $ — $ 17 Real estate held for sale, net ( 369 ) ( 384 ) ( 276 ) ( 1,619 ) Individually evaluated loans requiring specific allowance, net 290 172 532 893 Total net gain (loss) $ ( 79 ) $ ( 197 ) $ 256 $ ( 709 )
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 September 30, 2022 and December 31, 2021 ($ in thousands): September 30, 2022 Asset category Fair value Primary Unobservable Range Weighted Individually evaluated $ 10,347 Market comparables Selling costs 8.0 % 8.0 % Real estate owned, net 13,188 Market comparables Selling costs 8.0 % 8.0 % Loans held for investment, 926 Discounted cash flow Discount rate 7.2 % 7.2 % Collateral value (% of UPB) 96.3 % to 119.5 % 107.0 % Timing of resolution/payoff (months) 1 to 40 37.0 Prepayment rate 1.0 % to 30.0 % 30.0 % Default rate 0.1 % to 6.5 % 0.6 % Loss severity rate 0.0 % to 20.9 % 4.0 % Mortgage servicing rights 9,868 Discounted cash flow Discount rate 8.0 % to 8.2 % 8.1 % Prepayment rate 3.5 % to 10.5 % 5.3 % Interest rate multiples 0.4 to 35.6 9.9 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 investment, 1,359 Discounted cash flow Discount rate 5.8 % 5.8 % Collateral value (% of UPB) 95.0 % to 120.0 % 106.0 % Timing of resolution/payoff (months) 1 to 38 34.8 Prepayment rate 19.2 % to 50 % 30.0 % 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 (months) 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 %
Rollforward of Loans and Interest Only Strips Measured at Estimated Fair Value on Recurring Basis	The following is a rollforward of loans held for investment that are measured at estimated fair value on a recurring basis for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Beginning balance $ 1,351 $ 1,370 $ 1,359 $ 1,539 Loans liquidated ( 12 ) — ( 36 ) ( 163 ) Principal paydowns ( 416 ) ( 10 ) ( 416 ) ( 34 ) Total unrealized gain included in net income 3 — 19 18 Ending balance $ 926 $ 1,360 $ 926 $ 1,360 The following is a rollforward of loans held for sale that are measured at estimated fair value on a recurring basis for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Beginning balance $ — $ — $ — $ — Loans originated 16,119 — 16,119 — Total unrealized gain included in net income 450 — 450 — Ending balance $ 16,569 $ — $ 16,569 $ — The following is a rollforward of interest-only strips that are measured at estimated fair value on a recurring basis for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Beginning balance $ — $ 81 $ — $ 238 Interest-only strip additions — — — — Interest-only strip write-offs — ( 65 ) — ( 222 ) Total unrealized loss included in net income — — — — Ending balance $ — $ 16 $ — $ 16
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): September 30, 2022 Carrying Estimated Asset category Value Level 1 Level 2 Level 3 Fair Value Assets: Cash $ 26,372 $ 26,372 $ — $ — $ 26,372 Restricted cash 14,533 14,533 — — 14,533 Loans held for sale, at fair value 16,569 — 16,569 — 16,569 Loans held for investment, net 3,445,563 — — 3,538,544 3,538,544 Loans held for investment, at fair value 926 — — 926 926 Accrued interest receivables 18,333 18,333 — — 18,333 Mortgage servicing rights 9,868 — — 9,868 9,868 Liabilities: Secured financing, net $ 209,537 $ — $ — $ 211,123 $ 211,123 Warehouse repurchase facilities, net 340,050 — 340,050 — 340,050 Securitizations, net 2,651,895 — — 2,451,412 2,451,412 Accrued interest payable 10,917 10,917 — — 10,917 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 receivable 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 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

Organization and Description _2

Organization and Description of Business - Additional Information (Details) - USD ($)			3 Months Ended	9 Months Ended
	Jan. 28, 2020	Jan. 22, 2020	Sep. 30, 2021	Sep. 30, 2022	Dec. 28, 2021	Oct. 08, 2021	Jan. 16, 2020
Class Of Stock [Line Items]
Date of incorporation				Jul. 09, 2012
Minimum net worth required				$ 250,000
Century
Class Of Stock [Line Items]
Percentage of voting interests acquired					80%
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	10,727
Stock price	$ 13	$ 13

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	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 26,372	$ 35,965	$ 35,497
Restricted cash	14,533	11,639	9,586
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$ 40,905	$ 47,604	$ 45,083	$ 20,293

Loans Held for Sale and Loans_3

Loans Held for Sale and Loans Held for Sale at Fair Value - Summary of Loans Held for Sale and at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Total loans held for sale and loans held for sale at fair value, net		$ 87,908
Loans Held for Sale Net
Financing Receivable, Past Due [Line Items]
Unpaid principal balance		87,422
Deferred loan origination costs		486
Total loans held for sale and loans held for sale at fair value, net		87,908
Loans Held for Sale and at Fair Value
Financing Receivable, Past Due [Line Items]
Unpaid principal balance	$ 16,119
Valuation adjustments on FVO loans held for sale	450
Total loans held for sale and loans held for sale at fair value, net	16,569
Total Loans Held for Sale
Financing Receivable, Past Due [Line Items]
Unpaid principal balance	16,119	87,422
Valuation adjustments on FVO loans held for sale	450
Deferred loan origination costs		486
Total loans held for sale and loans held for sale at fair value, net	$ 16,569	$ 87,908

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	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Allowance for loan losses	$ (5,330)	$ (4,905)	$ (4,262)	$ (4,028)	$ (3,963)	$ (5,845)
Net Loans Held For Investment
Accounts Notes And Loans Receivable [Line Items]
Unpaid principal balance	3,415,468		2,498,466
Deferred loan origination costs	35,425		33,360
Total loans held for investment and loans held for investment at fair value, gross	3,450,893		2,531,826
Allowance for loan losses	(5,330)		(4,262)
Total loans held for investment and loans held for investment at fair value, net	3,445,563		2,527,564
Loans At Fair Value Held For Investment
Accounts Notes And Loans Receivable [Line Items]
Unpaid principal balance	880		1,332
Valuation adjustments on FVO loans	46		27
Total loans held for investment and loans held for investment at fair value, gross	926		1,359
Total loans held for investment and loans held for investment at fair value, net	926		1,359
Total Loans Held For Investment
Accounts Notes And Loans Receivable [Line Items]
Unpaid principal balance	3,416,348		2,499,798
Valuation adjustments on FVO loans	46		27
Deferred loan origination costs	35,425		33,360
Total loans held for investment and loans held for investment at fair value, gross	3,451,819		2,533,185
Allowance for loan losses	(5,330)		(4,262)
Total loans held for investment and loans held for investment at fair value, net	$ 3,446,489		$ 2,528,923

Loans Held for Investment and_4

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	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Accounts Notes And Loans Receivable [Line Items]
UPB Beginning balance	$ 236,314	$ 292,429	$ 392,073
UPB Additions			2,616
UPB Foreclosures		(1,427)	(402)
UPB Repayments	(18,796)	(73,484)	(101,858)
UPB Ending balance	217,518	217,518	292,429
UPB Performing/Accruing, Amount	175,160	175,160	233,307
UPB Nonperforming/Nonaccrual, Amount	$ 42,358	$ 42,358	$ 59,122
UPB Performing/Accruing, Percentage	80.50%	80.50%	79.80%
UPB Nonperforming/Nonaccrual, Percentage	19.50%	19.50%	20.20%
Amortized Cost Beginning balance	$ 239,073	$ 295,990	$ 396,918
Amortized Cost Additions			2,615
Amortized Cost Foreclosures		(1,438)	(408)
Amortized Cost Repayments	(18,998)	(74,477)	(103,135)
Amortized Cost Ending balance	220,075	220,075	295,990
Amortized Cost Performing/Accruing, Amount	177,256	177,256	236,076
Amortized Cost Nonperforming/Nonaccrual, Amount	$ 42,819	$ 42,819	$ 59,914
Amortized Cost Performing/Accruing, Percentage	80.50%	80.50%	79.80%
Amortized Cost Nonperforming/Nonaccrual, Percentage	19.50%	19.50%	20.20%

Loans Held for Investment and_5

Loans Held for Investment and Loans Held for Investment at Fair Value - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended	30 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Sep. 30, 2022	Dec. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Accrued interest income recognized on nonaccrual loans			$ 0
Cash basis interest income recognized on nonaccrual loans	$ 8,000,000	$ 7,600,000	24,000,000	$ 24,300,000
Average recorded investment of individually evaluated loans, computed using month-end balances	252,300,000	$ 292,200,000	$ 265,000,000	$ 332,400,000
Stress Scenario , Descriptions			For the September 30, 2022 estimate, the Company considered a severe stress scenario with a six-quarter reasonable and supportable forecast period followed by a four-quarter straight-line reversion period. Management concluded that applying the severe stress scenario was appropriate given the uncertainty due to the increased risk of a recession, continued rising inflation, and the supply chain disruption from the Russia/Ukraine war and lingering impacts from COVID-19.
COVID-19
Accounts Notes And Loans Receivable [Line Items]
Loans	$ 220,000,000		$ 220,000,000		$ 296,000,000	$ 220,000,000
90+days
Accounts Notes And Loans Receivable [Line Items]
Annualized charge rate of non performing loans	0.25%		0.27%		0.42%
COVID 19 Forbearance Program
Accounts Notes And Loans Receivable [Line Items]
Amount of loan granted for unusual risk forbearance	$ 203,800,000		$ 203,800,000			203,800,000	$ 409,100,000
Accrued interest income recognized on nonaccrual loans			$ 4,100,000			$ 11,000,000
Loans held for investment unpaid principal balance performing and accruing, percentage	80.50%		80.50%		79.80%	80.50%
Loans held for investment unpaid principal balance nonperforming and nonaccrual percentage	19.50%		19.50%		20.20%	19.50%

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 Facilities and Securitizations Issued (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounts Notes And Loans Receivable [Line Items]
Total	$ 2,913,766	$ 2,172,766
Asset Pledged As Collateral Without Right
Accounts Notes And Loans Receivable [Line Items]
Total pledged loans	421,519	400,759
2013 Repurchase Agreement | Asset Pledged As Collateral Without Right
Accounts Notes And Loans Receivable [Line Items]
Total pledged loans	174,201	202,511
2021 Repurchase Agreement | Asset Pledged As Collateral Without Right
Accounts Notes And Loans Receivable [Line Items]
Total pledged loans	119,604	114,072
Bank Credit Agreement | Asset Pledged As Collateral Without Right
Accounts Notes And Loans Receivable [Line Items]
Total pledged loans	57,470	30,959
2021 Term Repurchase Agreement | Asset Pledged As Collateral Without Right
Accounts Notes And Loans Receivable [Line Items]
Total pledged loans	68,048	53,217
July 2021 Term Repurchase Agreement | Asset Pledged As Collateral Without Right
Accounts Notes And Loans Receivable [Line Items]
Total pledged loans	2,196
2015-1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total		31,931
2016-1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	40,218	52,623
2017-2 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	69,464	94,809
2018-1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	52,435	71,051
2018-2 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	112,668	154,974
2019-1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	107,898	144,727
2019-2 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	97,898	132,358
2019-3 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	80,698	103,266
2020-1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	153,419	189,547
2020-2 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	82,979	98,403
2020-MC1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total		134,957
2021-1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	217,170	249,396
2021-2 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	181,098	198,039
2021-3 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	184,234	202,138
2021-4 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	285,214	$ 314,547
2022-1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	265,723
2022-2 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	248,574
2022-MC1 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	101,143
2022-3 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	302,862
2022-4 Trust
Accounts Notes And Loans Receivable [Line Items]
Total	$ 330,071

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	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Financing Receivable Impaired [Line Items]
Total Nonaccrual	$ 256,257	$ 276,418
Nonaccrual with No Allowance for Loan Loss	245,036	263,026
Nonaccrual with Allowance for Loan Loss	11,221	13,392
Allowance for Loans Individually Evaluated	$ 874	$ 1,406	$ 1,776
Percentage of Allowance to Total Nonaccrual Loans with Allowance	7.80%	10.50%
Troubled Debt Restructuring included in nonaccrual loans:		$ 165
Commercial - Purchase
Financing Receivable Impaired [Line Items]
Total Nonaccrual	$ 19,033	17,260
Nonaccrual with No Allowance for Loan Loss	18,770	16,501
Nonaccrual with Allowance for Loan Loss	263	759
Allowance for Loans Individually Evaluated	$ 6	$ 9	12
Percentage of Allowance to Total Nonaccrual Loans with Allowance	0.10%	0.10%
Commercial - Refinance
Financing Receivable Impaired [Line Items]
Total Nonaccrual	$ 81,204	$ 85,935
Nonaccrual with No Allowance for Loan Loss	77,319	79,131
Nonaccrual with Allowance for Loan Loss	3,885	6,804
Allowance for Loans Individually Evaluated	$ 369	$ 826	938
Percentage of Allowance to Total Nonaccrual Loans with Allowance	3.30%	6.20%
Residential 1-4 Unit - Purchase
Financing Receivable Impaired [Line Items]
Total Nonaccrual	$ 21,731	$ 17,385
Nonaccrual with No Allowance for Loan Loss	21,263	17,128
Nonaccrual with Allowance for Loan Loss	468	257
Allowance for Loans Individually Evaluated	$ 118	$ 96	96
Percentage of Allowance to Total Nonaccrual Loans with Allowance	1.10%	0.70%
Residential 1-4 Unit - Refinance
Financing Receivable Impaired [Line Items]
Total Nonaccrual	$ 91,368	$ 107,552
Nonaccrual with No Allowance for Loan Loss	89,200	105,515
Nonaccrual with Allowance for Loan Loss	2,168	2,037
Allowance for Loans Individually Evaluated	$ 176	$ 138	261
Percentage of Allowance to Total Nonaccrual Loans with Allowance	1.60%	1%
Short Term 1-4 Unit - Purchase
Financing Receivable Impaired [Line Items]
Total Nonaccrual	$ 7,076	$ 2,986
Nonaccrual with No Allowance for Loan Loss	7,076	2,881
Nonaccrual with Allowance for Loan Loss		105
Allowance for Loans Individually Evaluated		$ 31	110
Percentage of Allowance to Total Nonaccrual Loans with Allowance		0.20%
Short Term 1-4 Unit - Refinance
Financing Receivable Impaired [Line Items]
Total Nonaccrual	35,845	$ 45,300
Nonaccrual with No Allowance for Loan Loss	31,408	41,870
Nonaccrual with Allowance for Loan Loss	4,437	3,430
Allowance for Loans Individually Evaluated	$ 205	$ 306	$ 359
Percentage of Allowance to Total Nonaccrual Loans with Allowance	1.80%	2.30%
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	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Financing Receivable Impaired [Line Items]
Financing Receivable, Amortized Cost Basis	$ 3,450,893	$ 2,299,725	$ 3,450,893	$ 2,299,725
Financing Receivable, Accrued Interest, Writeoff	1,155	929	3,177	3,778
Commercial - Purchase
Financing Receivable Impaired [Line Items]
Financing Receivable, Amortized Cost Basis	722,868	426,483	722,868	426,483
Financing Receivable, Accrued Interest, Writeoff	207	114	400	306
Commercial - Refinance
Financing Receivable Impaired [Line Items]
Financing Receivable, Amortized Cost Basis	933,486	710,201	933,486	710,201
Financing Receivable, Accrued Interest, Writeoff	328	146	915	838
Residential 1-4 Unit - Purchase
Financing Receivable Impaired [Line Items]
Financing Receivable, Amortized Cost Basis	630,069	340,611	630,069	340,611
Financing Receivable, Accrued Interest, Writeoff	93	33	374	154
Residential 1-4 Unit - Refinance
Financing Receivable Impaired [Line Items]
Financing Receivable, Amortized Cost Basis	1,013,626	671,703	1,013,626	671,703
Financing Receivable, Accrued Interest, Writeoff	326	368	892	1,169
Short Term 1-4 Unit - Purchase
Financing Receivable Impaired [Line Items]
Financing Receivable, Amortized Cost Basis	73,005	50,758	73,005	50,758
Financing Receivable, Accrued Interest, Writeoff	134	103	159	788
Short Term 1-4 Unit - Refinance
Financing Receivable Impaired [Line Items]
Financing Receivable, Amortized Cost Basis	77,839	99,969	77,839	99,969
Financing Receivable, Accrued Interest, Writeoff	$ 67	$ 165	$ 437	$ 523

Loans Held for Investment and_9

Loans Held for Investment and Loans Held for Investment at Fair Value - Activity in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Allowance for credit losses:
Beginning balance	$ 4,905	$ 3,963	$ 4,262	$ 5,845
Provision for loan losses	580	228	1,589	(668)
Charge-offs	(155)	(163)	(521)	(1,149)
Ending balance	5,330	4,028	5,330	4,028
Allowance for Loans Individually Evaluated	874	1,776	874	1,776	$ 1,406
Allowance related to Loans collectively evaluated	4,456	2,252	4,456	2,252
Amortized cost related to Loans individually evaluated	256,257	291,808	256,257	291,808
Amortized cost related to Loans collectively evaluated	3,194,636	2,007,917	3,194,636	2,007,917
Commercial - Purchase
Allowance for credit losses:
Beginning balance	612	262	385	373
Provision for loan losses	78		452	3
Charge-offs			(147)	(114)
Ending balance	690	262	690	262
Allowance for Loans Individually Evaluated	6	12	6	12	9
Allowance related to Loans collectively evaluated	684	250	684	250
Amortized cost related to Loans individually evaluated	19,033	20,707	19,033	20,707
Amortized cost related to Loans collectively evaluated	703,835	405,776	703,835	405,776
Commercial - Refinance
Allowance for credit losses:
Beginning balance	1,996	1,923	2,144	2,093
Provision for loan losses	66	44	(57)	(31)
Charge-offs		(18)	(25)	(113)
Ending balance	2,062	1,949	2,062	1,949
Allowance for Loans Individually Evaluated	369	938	369	938	826
Allowance related to Loans collectively evaluated	1,693	1,010	1,693	1,010
Amortized cost related to Loans individually evaluated	81,204	84,324	81,204	84,324
Amortized cost related to Loans collectively evaluated	852,282	625,877	852,282	625,877
Residential 1-4 Unit - Purchase
Allowance for credit losses:
Beginning balance	440	281	400	333
Provision for loan losses	182	27	222	(12)
Charge-offs	(7)		(7)	(37)
Ending balance	615	308	615	308
Allowance for Loans Individually Evaluated	118	96	118	96	96
Allowance related to Loans collectively evaluated	497	212	497	212
Amortized cost related to Loans individually evaluated	21,731	18,419	21,731	18,419
Amortized cost related to Loans collectively evaluated	608,338	322,192	608,338	322,192
Residential 1-4 Unit - Refinance
Allowance for credit losses:
Beginning balance	1,270	847	948	1,216
Provision for loan losses	227	68	654	(150)
Charge-offs		(43)	(105)	(194)
Ending balance	1,497	872	1,497	872
Allowance for Loans Individually Evaluated	176	261	176	261	138
Allowance related to Loans collectively evaluated	1,321	611	1,321	611
Amortized cost related to Loans individually evaluated	91,368	114,785	91,368	114,785
Amortized cost related to Loans collectively evaluated	922,258	556,918	922,258	556,918
Short Term 1-4 Unit - Purchase
Allowance for credit losses:
Beginning balance	34	73	43	595
Provision for loan losses	9	62		(446)
Charge-offs				(14)
Ending balance	43	135	43	135
Allowance for Loans Individually Evaluated		110		110	31
Allowance related to Loans collectively evaluated	43	25	43	25
Amortized cost related to Loans individually evaluated	7,076	5,982	7,076	5,982
Amortized cost related to Loans collectively evaluated	65,929	44,776	65,929	44,776
Short Term 1-4 Unit - Refinance
Allowance for credit losses:
Beginning balance	553	577	342	1,235
Provision for loan losses	18	27	318	(56)
Charge-offs	(148)	(102)	(237)	(677)
Ending balance	423	502	423	502
Allowance for Loans Individually Evaluated	205	359	205	359	$ 306
Allowance related to Loans collectively evaluated	218	144	218	144
Amortized cost related to Loans individually evaluated	35,845	47,591	35,845	47,591
Amortized cost related to Loans collectively evaluated	$ 41,994	$ 52,378	$ 41,994	$ 52,378

Loans Held for Investment an_10

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 - Aging Status and Accrual Status - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	$ 3,450,893	$ 2,531,826
Loans Individually Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	256,257	276,418
Loans Individually Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	19,033	17,260
Loans Individually Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	81,204	85,935
Loans Individually Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	21,731	17,385
Loans Individually Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	91,368	107,552
Loans Individually Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	7,076	2,986
Loans Individually Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	35,845	45,300
Loans Collectively Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	3,194,636	2,255,408
Loans Collectively Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	703,835	492,161
Loans Collectively Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	852,282	697,326
Loans Collectively Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	608,338	391,385
Loans Collectively Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	922,258	622,768
Loans Collectively Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	65,929	26,003
Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans	41,994	25,765
30-59 days
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	130,065	136,320
30-59 days | Loans Individually Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	7,183	7,810
30-59 days | Loans Individually Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	515	700
30-59 days | Loans Individually Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	4,761	4,464
30-59 days | Loans Individually Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	147
30-59 days | Loans Individually Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	1,760	807
30-59 days | Loans Individually Evaluated | Short Term 1-4 Unit - Purchase
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		615
30-59 days | Loans Collectively Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	122,882	128,510
30-59 days | Loans Collectively Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	19,008	17,319
30-59 days | Loans Collectively Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	39,899	31,769
30-59 days | Loans Collectively Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	14,802	14,905
30-59 days | Loans Collectively Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	46,982	39,045
30-59 days | Loans Collectively Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	598	21,412
30-59 days | Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	1,593	4,060
60-89 days
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	67,839	43,877
60-89 days | Loans Individually Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	11,461	11,912
60-89 days | Loans Individually Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	679	2,314
60-89 days | Loans Individually Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	8,203	6,818
60-89 days | Loans Individually Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	324	682
60-89 days | Loans Individually Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	2,255	1,088
60-89 days | Loans Individually Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due		1,010
60-89 days | Loans Collectively Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	56,378	31,965
60-89 days | Loans Collectively Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	7,126	4,034
60-89 days | Loans Collectively Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	12,110	7,025
60-89 days | Loans Collectively Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	9,081	5,580
60-89 days | Loans Collectively Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	23,643	9,548
60-89 days | Loans Collectively Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	500	217
60-89 days | Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	3,918	5,561
90+days
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	237,613	256,531
90+days | Loans Individually Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	237,613	256,531
90+days | Loans Individually Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	17,839	14,246
90+days | Loans Individually Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	68,240	74,488
90+days | Loans Individually Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	21,260	16,703
90+days | Loans Individually Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	87,353	105,657
90+days | Loans Individually Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	7,076	1,762
90+days | Loans Individually Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	35,845	43,675
Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	435,517	436,728
Past Due | Loans Individually Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	256,257	276,253
Past Due | Loans Individually Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	19,033	17,260
Past Due | Loans Individually Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	81,204	85,770
Past Due | Loans Individually Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	21,731	17,385
Past Due | Loans Individually Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	91,368	107,552
Past Due | Loans Individually Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	7,076	2,986
Past Due | Loans Individually Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	35,845	45,300
Past Due | Loans Collectively Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	179,260	160,475
Past Due | Loans Collectively Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	26,134	21,353
Past Due | Loans Collectively Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	52,009	38,794
Past Due | Loans Collectively Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	23,883	20,485
Past Due | Loans Collectively Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	70,625	48,593
Past Due | Loans Collectively Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	1,098	21,629
Past Due | Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	5,511	9,621
Current
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	3,015,376	2,095,098
Current | Loans Individually Evaluated
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due		165
Current | Loans Individually Evaluated | Commercial - Refinance
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	3,015,376	2,094,933
Current | Loans Collectively Evaluated | Commercial - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	677,701	470,808
Current | Loans Collectively Evaluated | Commercial - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	800,273	658,532
Current | Loans Collectively Evaluated | Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	584,455	370,900
Current | Loans Collectively Evaluated | Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	851,633	574,175
Current | Loans Collectively Evaluated | Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	64,831	4,374
Current | Loans Collectively Evaluated | Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment Past Due [Line Items]
Loans, past due	$ 36,483	$ 16,144

Loans Held for Investment an_11

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	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	$ 1,333,467	$ 1,143,849
Term Loans Amortized Cost Basis by Origination Year, 2021	1,061,536	214,490
Term Loans Amortized Cost Basis by Origination Year, 2020	173,933	500,689
Term Loans Amortized Cost Basis by Origination Year, 2019	382,198	326,082
Term Loans Amortized Cost Basis by Origination Year, 2018	244,011	171,370
Term Loans Amortized Cost Basis by Origination Year, Pre-2018	255,748	175,346
Total	3,450,893	2,531,826
Commercial Purchase Portfolio Segment
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	276,449	277,906
Term Loans Amortized Cost Basis by Origination Year, 2021	264,923	47,617
Term Loans Amortized Cost Basis by Origination Year, 2020	40,062	87,082
Term Loans Amortized Cost Basis by Origination Year, 2019	66,231	50,817
Term Loans Amortized Cost Basis by Origination Year, 2018	39,500	27,703
Term Loans Amortized Cost Basis by Origination Year, Pre-2018	35,703	18,296
Total	722,868	509,421
Commercial Purchase Portfolio Segment | Performing
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	275,946	277,618
Term Loans Amortized Cost Basis by Origination Year, 2021	259,673	45,836
Term Loans Amortized Cost Basis by Origination Year, 2020	38,948	81,541
Term Loans Amortized Cost Basis by Origination Year, 2019	60,485	46,637
Term Loans Amortized Cost Basis by Origination Year, 2018	36,425	24,164
Term Loans Amortized Cost Basis by Origination Year, Pre-2018	32,358	16,365
Total	703,835	492,161
Commercial Purchase Portfolio Segment | Nonperforming
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	503	288
Term Loans Amortized Cost Basis by Origination Year, 2021	5,250	1,781
Term Loans Amortized Cost Basis by Origination Year, 2020	1,114	5,541
Term Loans Amortized Cost Basis by Origination Year, 2019	5,746	4,180
Term Loans Amortized Cost Basis by Origination Year, 2018	3,075	3,539
Term Loans Amortized Cost Basis by Origination Year, Pre-2018	3,345	1,931
Total	19,033	17,260
Commercial Refinance Portfolio Segment
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	276,390	242,170
Term Loans Amortized Cost Basis by Origination Year, 2021	226,172	68,915
Term Loans Amortized Cost Basis by Origination Year, 2020	60,385	170,029
Term Loans Amortized Cost Basis by Origination Year, 2019	135,636	145,604
Term Loans Amortized Cost Basis by Origination Year, 2018	116,734	78,866
Term Loans Amortized Cost Basis by Origination Year, Pre-2018	118,169	77,677
Total	933,486	783,261
Commercial Refinance Portfolio Segment | Performing
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	274,678	239,688
Term Loans Amortized Cost Basis by Origination Year, 2021	215,490	64,966
Term Loans Amortized Cost Basis by Origination Year, 2020	56,081	144,017
Term Loans Amortized Cost Basis by Origination Year, 2019	113,984	118,735
Term Loans Amortized Cost Basis by Origination Year, 2018	96,016	62,374
Term Loans Amortized Cost Basis by Origination Year, Pre-2018	96,033	67,546
Total	852,282	697,326
Commercial Refinance Portfolio Segment | Nonperforming
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	1,712	2,482
Term Loans Amortized Cost Basis by Origination Year, 2021	10,682	3,949
Term Loans Amortized Cost Basis by Origination Year, 2020	4,304	26,012
Term Loans Amortized Cost Basis by Origination Year, 2019	21,652	26,869
Term Loans Amortized Cost Basis by Origination Year, 2018	20,718	16,492
Term Loans Amortized Cost Basis by Origination Year, Pre-2018	22,136	10,131
Total	81,204	85,935
Residential 1-4 Unit - Purchase
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	286,428	264,552
Term Loans Amortized Cost Basis by Origination Year, 2021	241,987	15,627
Term Loans Amortized Cost Basis by Origination Year, 2020	13,177	52,826
Term Loans Amortized Cost Basis by Origination Year, 2019	38,152	33,280
Term Loans Amortized Cost Basis by Origination Year, 2018	21,644	16,350
Term Loans Amortized Cost Basis by Origination Year, Pre-2018	28,681	26,135
Total	630,069	408,770
Residential 1-4 Unit - Purchase | Performing
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	283,941	263,180
Term Loans Amortized Cost Basis by Origination Year, 2021	233,398	12,878
Term Loans Amortized Cost Basis by Origination Year, 2020	11,009	48,930
Term Loans Amortized Cost Basis by Origination Year, 2019	36,342	29,544
Term Loans Amortized Cost Basis by Origination Year, 2018	19,532	12,863
Term Loans Amortized Cost Basis by Origination Year, Pre-2018	24,116	23,990
Total	608,338	391,385
Residential 1-4 Unit - Purchase | Nonperforming
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	2,487	1,372
Term Loans Amortized Cost Basis by Origination Year, 2021	8,589	2,749
Term Loans Amortized Cost Basis by Origination Year, 2020	2,168	3,896
Term Loans Amortized Cost Basis by Origination Year, 2019	1,810	3,736
Term Loans Amortized Cost Basis by Origination Year, 2018	2,112	3,487
Term Loans Amortized Cost Basis by Origination Year, Pre-2018	4,565	2,145
Total	21,731	17,385
Residential 1-4 Unit - Refinance
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	408,459	354,845
Term Loans Amortized Cost Basis by Origination Year, 2021	320,978	37,374
Term Loans Amortized Cost Basis by Origination Year, 2020	31,910	145,961
Term Loans Amortized Cost Basis by Origination Year, 2019	117,973	90,451
Term Loans Amortized Cost Basis by Origination Year, 2018	61,111	48,451
Term Loans Amortized Cost Basis by Origination Year, Pre-2018	73,195	53,238
Total	1,013,626	730,320
Residential 1-4 Unit - Refinance | Performing
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	401,616	343,199
Term Loans Amortized Cost Basis by Origination Year, 2021	304,684	31,334
Term Loans Amortized Cost Basis by Origination Year, 2020	25,145	114,145
Term Loans Amortized Cost Basis by Origination Year, 2019	92,280	59,825
Term Loans Amortized Cost Basis by Origination Year, 2018	42,422	31,774
Term Loans Amortized Cost Basis by Origination Year, Pre-2018	56,111	42,491
Total	922,258	622,768
Residential 1-4 Unit - Refinance | Nonperforming
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	6,843	11,646
Term Loans Amortized Cost Basis by Origination Year, 2021	16,294	6,040
Term Loans Amortized Cost Basis by Origination Year, 2020	6,765	31,816
Term Loans Amortized Cost Basis by Origination Year, 2019	25,693	30,626
Term Loans Amortized Cost Basis by Origination Year, 2018	18,689	16,677
Term Loans Amortized Cost Basis by Origination Year, Pre-2018	17,084	10,747
Total	91,368	107,552
Short Term 1-4 Unit - Purchase
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	45,397	1,890
Term Loans Amortized Cost Basis by Origination Year, 2021	6,255	17,147
Term Loans Amortized Cost Basis by Origination Year, 2020	16,201	9,847
Term Loans Amortized Cost Basis by Origination Year, 2019	5,047	105
Term Loans Amortized Cost Basis by Origination Year, 2018	105
Total	73,005	28,989
Short Term 1-4 Unit - Purchase | Performing
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	45,397	1,890
Term Loans Amortized Cost Basis by Origination Year, 2021	1,256	15,582
Term Loans Amortized Cost Basis by Origination Year, 2020	15,206	8,531
Term Loans Amortized Cost Basis by Origination Year, 2019	4,070
Total	65,929	26,003
Short Term 1-4 Unit - Purchase | Nonperforming
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2021	4,999	1,565
Term Loans Amortized Cost Basis by Origination Year, 2020	995	1,316
Term Loans Amortized Cost Basis by Origination Year, 2019	977	105
Term Loans Amortized Cost Basis by Origination Year, 2018	105
Total	7,076	2,986
Short Term 1-4 Unit - Refinance
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	40,344	2,486
Term Loans Amortized Cost Basis by Origination Year, 2021	1,221	27,810
Term Loans Amortized Cost Basis by Origination Year, 2020	12,198	34,944
Term Loans Amortized Cost Basis by Origination Year, 2019	19,159	5,825
Term Loans Amortized Cost Basis by Origination Year, 2018	4,917
Total	77,839	71,065
Short Term 1-4 Unit - Refinance | Performing
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022	40,344	1,448
Term Loans Amortized Cost Basis by Origination Year, 2021	153	11,991
Term Loans Amortized Cost Basis by Origination Year, 2020	1,382	12,326
Term Loans Amortized Cost Basis by Origination Year, 2019	115
Total	41,994	25,765
Short Term 1-4 Unit - Refinance | Nonperforming
Financing Receivable Recorded Investment [Line Items]
Term Loans Amortized Cost Basis by Origination Year, 2022		1,038
Term Loans Amortized Cost Basis by Origination Year, 2021	1,068	15,819
Term Loans Amortized Cost Basis by Origination Year, 2020	10,816	22,618
Term Loans Amortized Cost Basis by Origination Year, 2019	19,044	5,825
Term Loans Amortized Cost Basis by Origination Year, 2018	4,917
Total	$ 35,845	$ 45,300

Receivables Due From Servicer_2

Receivables Due From Servicers - Summary of Receivables Due From Servicers (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Loan principal payments due from servicers	$ 34,653	$ 43,509
Other loan servicing receivables	13,986	11,448
Loan Servicing Receivables Current, Total	48,639	54,957
Corporate and escrow advances receivable	18,353	19,373
Total receivables due from servicers	66,992	74,330
Securitizations
Related Party Transaction [Line Items]
Loan principal payments due from servicers	34,368	42,344
Other loan servicing receivables	12,048	10,718
Loan Servicing Receivables Current, Total	46,416	53,062
Corporate and escrow advances receivable	18,263	17,884
Total receivables due from servicers	64,679	70,946
Warehouse and Repurchase Facilities and Other
Related Party Transaction [Line Items]
Loan principal payments due from servicers	285	1,165
Other loan servicing receivables	1,938	730
Loan Servicing Receivables Current, Total	2,223	1,895
Corporate and escrow advances receivable	90	1,489
Total receivables due from servicers	$ 2,313	$ 3,384

Mortgage Servicing Rights - Add

Mortgage Servicing Rights - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Transfers and Servicing [Abstract]
Unpaid principal balance of mortgage loans serviced for others, amount	$ 499.8	$ 520.6
Fair value of servicing rights, weighted average discount rate	8.10%	8%
Fair value of servicing rights, weighted average constant prepayment rate	5.30%	3.20%
Fair value of servicing rights, multiple based on interest rates	9.9	8.3

Mortgage Servicing Rights - Sum

Mortgage Servicing Rights - Summary of Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Transfers and Servicing [Abstract]
Balance at the beginning of year	$ 7,152
Mortgage servicing rights acquired, at fair value		$ 7,152
Fair value adjustments	2,716
Balance at end of year	$ 9,868	$ 7,152

Goodwill - Schedule of Activity

Goodwill - Schedule of Activity for Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Goodwill [Line Items]
Balance at the beginning of year	$ 6,775
Goodwill acquired	0	$ 6,775
Balance at end of period	$ 6,775	$ 6,775

Securitizations, Net - Addition

Securitizations, Net - Additional Information (Detail) $ in Billions	9 Months Ended
	Sep. 30, 2022 USD ($) Securities
Securitization Financial Asset For Which Transfer Is Accounted As Sale [Line Items]
Number of securitizations | Securities	24
Issuing of securities to third parties | $	$ 5.2
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%
Maturity dates of the securities	2045-07
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%
Maturity dates of the securities	2052-07

Securitizations Net - Summary o

Securitizations Net - Summary of Outstanding Balance Net of Discounts and Deals Costs of Securities and Effective Interest Rate (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Securitizations, net	$ 2,651,895	$ 1,623,674	$ 1,911,879
Average outstanding balance	$ 2,331,672	$ 1,574,999
Effective interest rate	4.30%	4.68%
Securitizations
Debt Instrument [Line Items]
Interest expense - portfolio related	$ 75,191	$ 55,288

Securitizations Net - Summary_2

Securitizations Net - Summary of Outstanding Balance Net of Discounts and Deals Costs of Securities and Effective Interest Rate (Parenthetical) (Details)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Transfers and Servicing [Abstract]
Average interest rate	3.59%	3.97%
Debt issue cost amortization rate	0.71%	0.71%

Other Debt - Additional Informa

Other Debt - Additional Information (Details) - USD ($)					1 Months Ended		9 Months Ended
	Mar. 15, 2022	Sep. 12, 2018	Aug. 08, 2016	Jan. 04, 2011	Apr. 16, 2021	Jan. 29, 2021	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Lines of credit fund maximum percentage of principle balance of mortgage loans							100%
Line of credit, maximum capacity							$ 810,000,000	$ 653,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term		3 years
Debt instrument, description							one-month LIBOR
Debt Instrument, effective interest rate							4.80%	7.30%
Agreement entered date							Sep. 12, 2018
Debt instrument, maturity date							Nov. 10, 2023
Line of credit, maximum capacity		$ 50,000,000
Revolving Credit Line
Debt Instrument [Line Items]
Agreement entered date			Aug. 08, 2016
Debt instrument, maturity date			Jul. 31, 2023
Revolving Credit Line | Short-Term Unsecured Borrowing
Debt Instrument [Line Items]
Line of credit, maximum capacity			$ 3,000,000
LIBOR | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, floor rate							0.75%
Debt instrument, spread rate							3.50%
SOFR | Revolving Credit Line | Short-Term Unsecured Borrowing
Debt Instrument [Line Items]
Debt instrument, floor rate							0.25%
Debt instrument, spread rate							2%
2022 Term Loan
Debt Instrument [Line Items]
Interest payments, frequency							six months
Corporate Debt Agreement | 2022 Term Loan
Debt Instrument [Line Items]
Debt instrument, term	5 years
Debt instrument, face amount	$ 215,000,000
Term loans, balance							$ 215,000,000
Debt issuance costs, net							$ 5,500,000
Debt instrument, maturity date	Mar. 15, 2027
Debt instrument, fixed interest rate	7.125%
2013 Repurchase Agreement | Secured Debt
Debt Instrument [Line Items]
Debt instrument, spread rate							3.50%
Debt Instrument, effective interest rate							6.90%	4.20%
Agreement entered date							May 17, 2013
Debt instrument, maturity date							Sep. 29, 2023
Line of credit, maximum capacity							$ 300,000,000	$ 200,000,000
2021 Repurchase Agreement | Secured Debt
Debt Instrument [Line Items]
Debt Instrument, effective interest rate							8.30%	5.90%
Agreement entered date						Jan. 29, 2021
Debt instrument, maturity date						Feb. 28, 2023
Line of credit, maximum capacity						$ 200,000,000	$ 200,000,000	$ 200,000,000
2021 Repurchase Agreement | Minimum | Secured Debt
Debt Instrument [Line Items]
Debt instrument, spread rate						3.50%
2021 Repurchase Agreement | Maximum | Secured Debt
Debt Instrument [Line Items]
Debt instrument, spread rate						4.50%
2021 Term Repurchase Agreement | Secured Debt
Debt Instrument [Line Items]
Debt instrument, description					one-month LIBOR
Debt Instrument, effective interest rate							4%	3.50%
Agreement entered date					Apr. 16, 2021
Debt instrument, maturity date					Apr. 16, 2024
Line of credit, maximum capacity					$ 100,000,000		$ 100,000,000	$ 100,000,000
2021 Term Repurchase Agreement | Minimum | Secured Debt
Debt Instrument [Line Items]
Debt instrument, spread rate					3%
July 2021 Term Repurchase Agreement
Debt Instrument [Line Items]
Debt instrument, description							one-month LIBOR
Line of credit, maximum capacity							$ 100,000,000
Line of credit, outstanding amount								0
Interest rate description							Each loan advance bears interest at one-month LIBOR with a 0.5% floor plus 4.5% per annum.
Line of credit , maturity date							Jul. 29, 2024
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
July 2021 Term Repurchase Agreement | Secured Debt
Debt Instrument [Line Items]
Line of credit, maximum capacity							$ 100,000,000	$ 100,000,000
July 2021 Term Repurchase Agreement | LIBOR | Secured Debt
Debt Instrument [Line Items]
Debt instrument, floor rate							0.50%
Debt instrument, spread rate							4.50%
Facility Agreement
Debt Instrument [Line Items]
Agreement entered date				Jan. 04, 2011
Debt instrument, maturity date				Jul. 31, 2023
Facility Agreement | Secured Debt
Debt Instrument [Line Items]
Debt instrument, description							one-month Secured Overnight Financing Rate (“SOFR”)
Line of credit, maximum capacity				$ 60,000,000
Facility Agreement | SOFR | Secured Debt
Debt Instrument [Line Items]
Debt instrument, floor rate							0.25%
Debt instrument, spread rate							1.60%

Other Debt - Summary of Maximum

Other Debt - Summary of Maximum Borrowing Capacity and Current Gross Balances Outstanding (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021	Apr. 16, 2021	Jan. 29, 2021	Sep. 12, 2018
Debt Instrument [Line Items]
Period end balance	$ 341,412,000	$ 302,800,000
Maximum borrowing capacity	810,000,000	653,000,000
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	47,777,000	41,636,000
Maximum borrowing capacity	100,000,000	100,000,000	$ 100,000,000
2021 Repurchase Agreement | Secured Debt
Debt Instrument [Line Items]
Period end balance	93,915,000	82,580,000
Maximum borrowing capacity	200,000,000	200,000,000		$ 200,000,000
July 2021 Term Repurchase Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	100,000,000
July 2021 Term Repurchase Agreement | Secured Debt
Debt Instrument [Line Items]
Period end balance	1,632,000
Maximum borrowing capacity	100,000,000	100,000,000
2013 Repurchase Agreement | Secured Debt
Debt Instrument [Line Items]
Period end balance	138,776,000	153,499,000
Maximum borrowing capacity	300,000,000	200,000,000
Bank Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Period end balance	43,120,000	22,385,000
Maximum borrowing capacity	50,000,000	50,000,000
2019 Term Loan | Secured Debt
Debt Instrument [Line Items]
Period end balance		2,700,000
Maximum borrowing capacity		$ 3,000,000
2011 Facility Agreement | Secured Debt
Debt Instrument [Line Items]
Period end balance	16,192,000
Maximum borrowing capacity	$ 60,000,000

Other Debt - Summary of Maxim_2

Other Debt - Summary of Maximum Borrowing Capacity and Current Gross Balances Outstanding (Parenthetical) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Warehouse Repurchase Facilities
Debt Instrument [Line Items]
Debt issuance costs, net	$ 1.4	$ 1.7

Other Debt - Schedule of Activi

Other Debt - Schedule of Activity and Effective Interest Rate (Details) - Warehouse and Repurchase Facilities - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Debt Instrument [Line Items]
Average outstanding balance	$ 226,660	$ 182,383	$ 294,622	$ 154,297
Highest outstanding balance at any month-end	$ 341,412	$ 259,744	$ 426,959	$ 281,690
Effective interest rate	6.70%	5.19%	5.28%	5.56%

Other Debt - Schedule of Acti_2

Other Debt - Schedule of Activity and Effective Interest Rate (Parenthetical) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt Instrument, average rate	5.90%	4%	4.66%	4.35%
Debt issue cost amortization percentage	0.80%	1.19%	0.62%	1.21%

Other Debt - Summary of Interes

Other Debt - Summary of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Debt Instrument [Line Items]
Interest expense — portfolio related	$ 34,561	$ 20,321	$ 86,869	$ 61,720
Interest expense — corporate debt	4,011	4,488	25,333	16,147
Total interest expense	38,572	24,809	112,202	77,867
Warehouse and Repurchase Facilities
Debt Instrument [Line Items]
Interest expense — portfolio related	3,798	2,365	11,678	6,433
Securitizations
Debt Instrument [Line Items]
Interest expense — portfolio related	$ 30,763	$ 17,956	$ 75,191	$ 55,287

Other Debt - Summary of Inter_2

Other Debt - Summary of Interest Expense (Parenthetical) (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended
	Mar. 31, 2022	Feb. 28, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Debt Instrument [Line Items]
Interest expense — corporate debt			$ 4,011	$ 4,488	$ 25,333	$ 16,147
Repayment of outstanding principal amount					170,844	81,063
Corporate Debt Agreement | Owl Rock Capital Corporation | 2019 Term Loan
Debt Instrument [Line Items]
Interest expense — corporate debt				$ 16,100	25,300
Write off of debt issuance cost					7,700	2,900
Prepayment penalties					$ 5,100	$ 1,600
Repayment of outstanding principal amount	$ 170,800	$ 78,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Repurchase liability	$ 158	$ 141

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions			1 Months Ended				3 Months Ended			9 Months Ended
	Dec. 24, 2020	Jan. 31, 2020	May 31, 2022	Feb. 28, 2022	May 31, 2021	Jan. 31, 2021	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock awarded and earned stock compensation, shares				125,250		480,000
Compensation expense related to the outstanding stock options granted							$ 0.9		$ 0.5
Amount of unrecognized compensation expense related to unvested stock options							$ 4.6		$ 4.2	$ 4.6
Treasury shares purchased							0	33,647
Treasury shares, average price per share								$ 13.61
Restricted Stock-based Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted requisite service period										3 years
Description of compensation expense related to stock options										Compensation expense related to restricted stock-based awards 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.
Performance Stock Unit
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued				102,750
Non-Employee Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock awarded and earned stock compensation, shares			31,215		26,511
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of purchase price							85%			85%
Employee Stock Purchase Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of payroll deduction							15%			15%
2020 Omnibus Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares authorized to grant							2,770,000			2,770,000
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

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Basic and Diluted Earnings Per Share Calculations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Basic EPS:
Net income attributable to common stockholders	$ 9,983	$ 8,022	$ 23,749	$ 20,871
Less: undistributed earnings attributable to participating securities	152	3,030	362	7,884
Net earnings attributable to common stockholders	$ 9,831	$ 4,992	$ 23,387	$ 12,987
Weighted average common shares outstanding	31,922	20,090	31,910	20,088
Basic earnings per common share	$ 0.31	$ 0.25	$ 0.73	$ 0.65
Diluted EPS:
Net income attributable to common stockholders	$ 9,983	$ 8,022	$ 23,749	$ 20,871
Weighted average common shares outstanding	31,922	20,090	31,910	20,088
Add dilutive effects for warrants	2,061	2,157	2,058	1,909
Add dilutive effects for stock options	6	5	5	2
Add dilutive effects of unvested restricted stock awards	210	272	180	171
Weighted Average Number of Shares Outstanding, Diluted, Total	34,199	34,212	34,153	33,858
Diluted income per common share	$ 0.29	$ 0.23	$ 0.70	$ 0.62
Series A Preferred Stock
Diluted EPS:
Add dilutive effects for assumed conversion of Series A preferred stock		11,688		11,688

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share equivalents excluded from EPS	773	773	773	773
Stock options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share equivalents excluded from EPS	773	773	773	773

Convertible Preferred Stock - A

Convertible Preferred Stock - Additional Information (Details) - $ / shares	Sep. 30, 2022	Oct. 08, 2021	Jan. 16, 2020
Convertible Redeemable Preferred Stock [Line Items]
Percentage of common stock held by warrant holder and affiliates	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	2,008,749
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
Common Stock
Convertible Redeemable Preferred Stock [Line Items]
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

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Information on Assets Measured and Recorded at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for sale, at fair value	$ 16,569
Loans held for investment, at fair value	926	$ 1,359
Mortgage servicing rights	9,868	7,152
Assets	50,898	125,477
Real estate owned, net	13,188	17,557
Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for sale, at fair value	16,569
Loans held for investment, at fair value	926	1,359
Mortgage servicing rights	9,868	7,152
Assets	27,363	8,511
Nonrecurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for sale, at fair value		87,422
Assets	23,535	116,966
Real estate owned, net	13,188	17,557
Individually evaluated/Impaired loans requiring specific allowance, net	10,347	11,987
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	16,569
Level 2 | Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for sale, at fair value	16,569
Assets	16,569
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	34,329	125,477
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	926	1,359
Mortgage servicing rights	9,868	7,152
Assets	10,794	8,511
Level 3 | Nonrecurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans held for sale, at fair value		87,422
Assets	23,535	116,966
Real estate owned, net	13,188	17,557
Individually evaluated/Impaired loans requiring specific allowance, net	$ 10,347	$ 11,987

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	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total net gain (loss)	$ (79)	$ (197)	$ 256	$ (709)
Loans Held for Sale, Net
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total net gain (loss)		15		17
Real Estate Held For Sale, Net
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total net gain (loss)	(369)	(384)	(276)	(1,619)
Individually Evaluated Loans Requiring Specific Allowance, Net
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total net gain (loss)	$ 290	$ 172	$ 532	$ 893

Fair Value Measurements - Valua

Fair Value Measurements - Valuation Techniques and Unobservable Inputs Related to Level 3 Assets (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	$ 50,898	$ 125,477
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	$ 34,329	$ 125,477
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 specific 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	0.072	0.058
Loans held for sale		0.058
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	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	0.963	0.950
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	1 month
Loans held for sale		3 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	0.010	0.192
Mortgage servicing rights, at fair value	0.035	0.024
Level 3 | Minimum | Discounted Cash Flow | Interest Rate Multiples
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mortgage servicing rights, at fair value	0.4
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	0.001	0
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	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	0.082	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	1.195	1.200
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	40 months	38 months
Loans held for sale		37 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	0.300	0.50
Mortgage servicing rights, at fair value	0.105	0.035
Level 3 | Maximum | Discounted Cash Flow | Interest Rate Multiples
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mortgage servicing rights, at fair value	35.6
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	0.065	0.067
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	0.209	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 specific 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	0.072	0.058
Loans held for sale		0.058
Mortgage servicing rights, at fair value	0.081	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	1.070	1.060
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	37 months	34 months 24 days
Loans held for sale		13 months
Level 3 | Weighted Average | 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	0.300	0.300
Mortgage servicing rights, at fair value	0.053	0.032
Level 3 | Weighted Average | Discounted Cash Flow | Interest Rate Multiples
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mortgage servicing rights, at fair value	9.9
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	0.006	0.010
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	0.040	0.030
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	$ 10,347	$ 11,987
Level 3 | Real Estate Owned, Net
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	13,188	17,557
Level 3 | Loans Held for Investment
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	926	1,359
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
Level 3 | Mortgage Servicing Rights
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	$ 9,868	$ 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	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Loans Held For Investment
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning balance	$ 1,351	$ 1,370	$ 1,359	$ 1,539
Loans liquidated	(12)		(36)	(163)
Principal paydowns	(416)	(10)	(416)	(34)
Total unrealized gain (loss) included in net income	3		19	18
Ending balance	926	1,360	926	1,360
Loans Held For Sale
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans originated	16,119
Total unrealized gain (loss) included in net income	450		450
Ending balance	$ 16,569		$ 16,569
Interest-only Strips
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning balance		81		238
Interest-only strip write-offs		(65)		(222)
Ending balance		$ 16		$ 16

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Loans individually evaluated for allowance	$ 10,300	$ 12,000
Allowance for loan losses	$ 874	$ 1,406	$ 1,776

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Assets:
Restricted cash	$ 14,533	$ 11,639	$ 9,586
Loans held for sale, at fair value	16,569
Loans held for investment, net	3,445,563	2,527,564
Loans held for investment, at fair value	926	1,359
Mortgage servicing rights	9,868	7,152
Liabilities:
Secured financing, net	209,537	162,845
Securitizations, net	2,651,895	1,911,879	$ 1,623,674
Carrying Value
Assets:
Cash	26,372	35,965
Restricted cash	14,533	11,639
Loans held for sale, at fair value	16,569	87,908
Loans held for investment, net	3,445,563	2,527,564
Loans held for investment, at fair value	926	1,359
Accrued interest receivables	18,333	13,159
Mortgage servicing rights	9,868	7,152
Liabilities:
Secured financing, net	209,537	162,845
Warehouse repurchase facilities, net	340,050	301,069
Securitizations, net	2,651,895	1,911,879
Accrued interest payable	10,917	6,254
Estimate of Fair Value Measurement
Assets:
Cash	26,372	35,965
Restricted cash	14,533	11,639
Loans held for sale, at fair value	16,569	87,908
Loans held for investment, net	3,538,544	2,655,357
Loans held for investment, at fair value	926	1,359
Accrued interest receivables	18,333	13,159
Mortgage servicing rights	9,868	7,152
Liabilities:
Secured financing, net	211,123	170,843
Warehouse repurchase facilities, net	340,050	301,069
Securitizations, net	2,451,412	1,931,002
Accrued interest payable	10,917	6,254
Level 1 | Estimate of Fair Value Measurement
Assets:
Cash	26,372	35,965
Restricted cash	14,533	11,639
Accrued interest receivables	18,333	13,159
Liabilities:
Accrued interest payable	10,917	6,254
Level 2 | Estimate of Fair Value Measurement
Assets:
Loans held for sale, at fair value	16,569
Liabilities:
Warehouse repurchase facilities, net	340,050	301,069
Level 3 | Estimate of Fair Value Measurement
Assets:
Loans held for sale, at fair value		87,908
Loans held for investment, net	3,538,544	2,655,357
Loans held for investment, at fair value	926	1,359
Mortgage servicing rights	9,868	7,152
Liabilities:
Secured financing, net	211,123	170,843
Securitizations, net	$ 2,451,412	$ 1,931,002

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ in Millions	Oct. 07, 2022 USD ($)
Subsequent Event
Subsequent Event [Line Items]
Securitization loans	$ 254.2