v3.26.1
USE OF SPECIAL PURPOSE ENTITIES AND VARIABLE INTEREST ENTITIES - Summary of Loan and Borrowing Characteristics (Details)
12 Months Ended
Dec. 31, 2025
USD ($)
contract
rEOAsset
instrument
mortgageLoan
Dec. 31, 2024
USD ($)
mortgageLoan
contract
instrument
Variable Interest Entity [Line Items]    
Financings provided [1] $ 748,433,484 $ 828,390,189
One month SOFR rate 3.85% 4.51%
Weighted average LIBOR floor rate (percent) 2.55% 0.63%
Spread rate 3.27% 3.53%
Basis spread on one-month LIBOR (percent) 2.24% 2.26%
Collateralized Loan Obligations    
Variable Interest Entity [Line Items]    
One month SOFR rate 3.86% 4.51%
30-Day SOFR    
Variable Interest Entity [Line Items]    
Floating Rate Loan % 100.00% 100.00%
30-day SOFR rate 0.0374 0.0440
LMF 2023-1 And LMNT 2025-FL3 CLO    
Variable Interest Entity [Line Items]    
Financings provided, (Count) | instrument 2  
Financings provided $ 748,433,484  
LMF 2023-1 And LMNT 2025-FL3 CLO | London Interbank Offered Rate (LIBOR)    
Variable Interest Entity [Line Items]    
Weighted average yield (percent) 7.11%  
Weighted average yield (percent) 5.98%  
2021-FL1 CLO And LMF 2023-1    
Variable Interest Entity [Line Items]    
Financings provided, (Count) | instrument   2
Financings provided   $ 828,390,189
2021-FL1 CLO And LMF 2023-1 | London Interbank Offered Rate (LIBOR)    
Variable Interest Entity [Line Items]    
Weighted average yield (percent)   8.08%
Weighted average yield (percent)   6.66%
Commercial Real Estate Portfolio Segment    
Variable Interest Entity [Line Items]    
Collateral (loan investments) (Count) | mortgageLoan 61 65
Collateral (loan investments) $ 1,136,706,113 $ 1,060,123,298
Net of purchase discounts $ 1,657,584 $ 3,466,214
Floating Rate Loan % 100.00% 100.00%
Commercial Real Estate Portfolio Segment | LMF 2023-1 And LMNT 2025-FL3 CLO    
Variable Interest Entity [Line Items]    
Collateral (loan investments) (Count) | contract 44  
Collateral (REO assets) (Count) | rEOAsset 1  
Commercial Real Estate Portfolio Segment | 2021-FL1 CLO And LMF 2023-1    
Variable Interest Entity [Line Items]    
Collateral (loan investments) (Count) | contract   65
Principal Value    
Variable Interest Entity [Line Items]    
Financings provided $ 754,638,462 $ 830,698,696
Principal Value | LMF 2023-1 And LMNT 2025-FL3 CLO    
Variable Interest Entity [Line Items]    
Collateral (loan investments) 873,054,065  
Collateral (REO assets) 11,467,505  
Financings provided 754,638,462  
Net of purchase discounts 1,595,224  
Allowance for credit loss 15,394,353  
Principal Value | 2021-FL1 CLO And LMF 2023-1    
Variable Interest Entity [Line Items]    
Collateral (loan investments)   1,065,563,646
Financings provided   830,698,696
Net of purchase discounts   3,577,206
Allowance for credit loss   6,059,006
Carrying Value    
Variable Interest Entity [Line Items]    
Financings provided 748,433,484 828,390,189
Carrying Value | LMF 2023-1 And LMNT 2025-FL3 CLO    
Variable Interest Entity [Line Items]    
Collateral (loan investments) 856,064,489  
Collateral (REO assets) 10,906,169  
Financings provided 748,433,484  
Carrying Value | 2021-FL1 CLO And LMF 2023-1    
Variable Interest Entity [Line Items]    
Collateral (loan investments)   1,049,886,009
Financings provided   828,390,189
Carrying Value | LMF 2023-1 Financing    
Variable Interest Entity [Line Items]    
Debt issuance costs 1,292,096 $ 2,308,507
Carrying Value | LMNT 2025-FL3    
Variable Interest Entity [Line Items]    
Debt issuance costs $ 4,912,883  
[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company was the primary beneficiary of these VIEs. As of December 31, 2025 and December 31, 2024, assets of the consolidated VIEs totaled $889,507,091 and $1,058,138,406, respectively, and the liabilities of consolidated VIEs totaled $750,274,556 and $831,001,605, respectively. See Note 4 for further discussion.