WMC Western Asset Mortgage Capital Corporation

00014658852022FYFALSE0.10.20.10.337952http://www.westernasset.com/20221231#DerivativeAssetsIncludingOthersAccountedForAsDerivatives67670.100014658852022-01-012022-12-3100014658852022-06-30iso4217:USD00014658852023-03-10xbrli:shares00014658852022-12-3100014658852021-12-310001465885wmc:AgencyMortgageBackedSecuritiesMember2022-12-310001465885wmc:AgencyMortgageBackedSecuritiesMember2021-12-310001465885wmc:NonAgencyMortgageBackedSecuritiesMember2022-12-310001465885wmc:NonAgencyMortgageBackedSecuritiesMember2021-12-310001465885wmc:OtherSecuritiesMember2022-12-310001465885wmc:OtherSecuritiesMember2021-12-310001465885us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310001465885us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310001465885srt:AffiliatedEntityMember2022-12-310001465885srt:AffiliatedEntityMember2021-12-31iso4217:USDxbrli:shares00014658852021-01-012021-12-3100014658852020-01-012020-12-310001465885srt:AffiliatedEntityMember2022-01-012022-12-310001465885srt:AffiliatedEntityMember2021-01-012021-12-310001465885srt:AffiliatedEntityMember2020-01-012020-12-310001465885us-gaap:CommonStockMember2019-12-310001465885us-gaap:AdditionalPaidInCapitalMember2019-12-310001465885us-gaap:RetainedEarningsMember2019-12-310001465885us-gaap:TreasuryStockCommonMember2019-12-310001465885us-gaap:ParentMember2019-12-310001465885us-gaap:NoncontrollingInterestMember2019-12-3100014658852019-12-310001465885us-gaap:CommonStockMember2020-01-012020-12-310001465885us-gaap:AdditionalPaidInCapitalMember2020-01-012020-12-310001465885us-gaap:ParentMember2020-01-012020-12-310001465885us-gaap:NoncontrollingInterestMember2020-01-012020-12-310001465885us-gaap:TreasuryStockCommonMember2020-01-012020-12-310001465885us-gaap:RetainedEarningsMember2020-01-012020-12-310001465885us-gaap:CommonStockMember2020-12-310001465885us-gaap:AdditionalPaidInCapitalMember2020-12-310001465885us-gaap:RetainedEarningsMember2020-12-310001465885us-gaap:TreasuryStockCommonMember2020-12-310001465885us-gaap:ParentMember2020-12-310001465885us-gaap:NoncontrollingInterestMember2020-12-3100014658852020-12-310001465885us-gaap:NoncontrollingInterestMember2021-01-012021-12-310001465885us-gaap:AdditionalPaidInCapitalMember2021-01-012021-12-310001465885us-gaap:ParentMember2021-01-012021-12-310001465885us-gaap:CommonStockMember2021-01-012021-12-310001465885us-gaap:TreasuryStockCommonMember2021-01-012021-12-310001465885us-gaap:RetainedEarningsMember2021-01-012021-12-310001465885us-gaap:CommonStockMember2021-12-310001465885us-gaap:AdditionalPaidInCapitalMember2021-12-310001465885us-gaap:RetainedEarningsMember2021-12-310001465885us-gaap:TreasuryStockCommonMember2021-12-310001465885us-gaap:ParentMember2021-12-310001465885us-gaap:NoncontrollingInterestMember2021-12-310001465885us-gaap:NoncontrollingInterestMember2022-01-012022-12-310001465885us-gaap:AdditionalPaidInCapitalMember2022-01-012022-12-310001465885us-gaap:ParentMember2022-01-012022-12-310001465885us-gaap:RetainedEarningsMember2022-01-012022-12-310001465885us-gaap:CommonStockMember2022-12-310001465885us-gaap:AdditionalPaidInCapitalMember2022-12-310001465885us-gaap:RetainedEarningsMember2022-12-310001465885us-gaap:TreasuryStockCommonMember2022-12-310001465885us-gaap:ParentMember2022-12-310001465885us-gaap:NoncontrollingInterestMember2022-12-310001465885us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-12-3100014658852022-07-1100014658852022-07-112022-07-11xbrli:pure0001465885srt:MinimumMember2022-06-302022-06-300001465885srt:MaximumMember2022-06-302022-06-300001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyRMBSInterestOnlyStripsMemberus-gaap:FairValueInputsLevel1Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberwmc:AgencyRMBSInterestOnlyStripsMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:AgencyRMBSInterestOnlyStripsMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyRMBSInterestOnlyStripsMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMemberus-gaap:FairValueInputsLevel1Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMemberus-gaap:FairValueInputsLevel2Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMemberus-gaap:FairValueInputsLevel3Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberwmc:AgencyMortgageBackedSecuritiesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:AgencyMortgageBackedSecuritiesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyMortgageBackedSecuritiesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueInputsLevel1Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueInputsLevel2Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueInputsLevel3Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:OtherSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberwmc:OtherSecuritiesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:OtherSecuritiesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:OtherSecuritiesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:ResidentialBridgeLoansMemberus-gaap:FairValueInputsLevel1Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberwmc:ResidentialBridgeLoansMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:ResidentialBridgeLoansMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialLoanMemberus-gaap:FairValueInputsLevel1Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CommercialLoanMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialLoanMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:SecuritizedCommercialLoanMemberus-gaap:FairValueInputsLevel1Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberwmc:SecuritizedCommercialLoanMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:SecuritizedCommercialLoanMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:SecuritizedCommercialLoanMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyRMBSInterestOnlyStripsMemberus-gaap:FairValueInputsLevel1Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberwmc:AgencyRMBSInterestOnlyStripsMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:AgencyRMBSInterestOnlyStripsMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyRMBSInterestOnlyStripsMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMemberus-gaap:FairValueInputsLevel1Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMemberus-gaap:FairValueInputsLevel2Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMemberus-gaap:FairValueInputsLevel3Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberwmc:AgencyMortgageBackedSecuritiesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:AgencyMortgageBackedSecuritiesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:AgencyMortgageBackedSecuritiesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueInputsLevel1Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueInputsLevel2Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueInputsLevel3Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:OtherSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberwmc:OtherSecuritiesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:OtherSecuritiesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:OtherSecuritiesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:ResidentialBridgeLoansMemberus-gaap:FairValueInputsLevel1Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberwmc:ResidentialBridgeLoansMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:ResidentialBridgeLoansMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialLoanMemberus-gaap:FairValueInputsLevel1Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CommercialLoanMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialLoanMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:SecuritizedCommercialLoanMemberus-gaap:FairValueInputsLevel1Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberwmc:SecuritizedCommercialLoanMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:SecuritizedCommercialLoanMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberwmc:SecuritizedCommercialLoanMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMember2021-12-310001465885us-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputExpectedTermMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputExpectedTermMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputExpectedTermMember2022-12-310001465885us-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberwmc:ResidentialBridgeLoansMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMembersrt:WeightedAverageMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMemberus-gaap:MeasurementInputExpectedTermMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberwmc:ResidentialBridgeLoansMemberus-gaap:MeasurementInputExpectedTermMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMembersrt:WeightedAverageMemberus-gaap:MeasurementInputExpectedTermMember2022-12-310001465885us-gaap:MarketApproachValuationTechniqueMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberwmc:SecuritizedCommercialLoanMemberus-gaap:MeasurementInputExpectedTermMember2022-12-310001465885us-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberwmc:SecuritizedCommercialLoanMemberus-gaap:MeasurementInputExpectedTermMember2022-12-310001465885us-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Memberwmc:SecuritizedCommercialLoanMembersrt:WeightedAverageMemberus-gaap:MeasurementInputExpectedTermMember2022-12-310001465885us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:CommercialLoanMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMembersrt:WeightedAverageMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMemberus-gaap:MeasurementInputExpectedTermMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:CommercialLoanMemberus-gaap:MeasurementInputExpectedTermMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMembersrt:WeightedAverageMemberus-gaap:MeasurementInputExpectedTermMember2022-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputExpectedTermMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputExpectedTermMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputExpectedTermMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberwmc:ResidentialBridgeLoansMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMembersrt:WeightedAverageMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMemberus-gaap:MeasurementInputExpectedTermMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberwmc:ResidentialBridgeLoansMemberus-gaap:MeasurementInputExpectedTermMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMembersrt:WeightedAverageMemberus-gaap:MeasurementInputExpectedTermMember2021-12-310001465885us-gaap:MarketApproachValuationTechniqueMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberwmc:SecuritizedCommercialLoanMemberus-gaap:MeasurementInputExpectedTermMember2021-12-310001465885us-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberwmc:SecuritizedCommercialLoanMemberus-gaap:MeasurementInputExpectedTermMember2021-12-310001465885us-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Memberwmc:SecuritizedCommercialLoanMembersrt:WeightedAverageMemberus-gaap:MeasurementInputExpectedTermMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:CommercialLoanMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMembersrt:WeightedAverageMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMemberus-gaap:MeasurementInputExpectedTermMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:CommercialLoanMemberus-gaap:MeasurementInputExpectedTermMember2021-12-310001465885us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMembersrt:WeightedAverageMemberus-gaap:MeasurementInputExpectedTermMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:NonAgencyMortgageBackedSecuritiesMember2021-12-310001465885wmc:SecuritizedDebtMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:AgencyMortgageBackedSecuritiesMember2022-01-012022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:NonAgencyMortgageBackedSecuritiesMember2022-01-012022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialPortfolioSegmentMember2022-01-012022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMember2022-01-012022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMember2022-01-012022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:SecuritizedCommercialLoanMember2022-01-012022-12-310001465885wmc:SecuritizedDebtMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-01-012022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:NonAgencyMortgageBackedSecuritiesMember2022-12-310001465885wmc:SecuritizedDebtMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:AgencyMortgageBackedSecuritiesMemberus-gaap:AssetsMember2022-01-012022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:NonAgencyMortgageBackedSecuritiesMemberus-gaap:AssetsMember2022-01-012022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:AssetsMember2022-01-012022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMemberus-gaap:AssetsMember2022-01-012022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMemberus-gaap:AssetsMember2022-01-012022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:SecuritizedCommercialLoanMemberus-gaap:AssetsMember2022-01-012022-12-310001465885wmc:SecuritizedDebtMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AssetsMember2022-01-012022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:AgencyMortgageBackedSecuritiesMember2020-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:NonAgencyMortgageBackedSecuritiesMember2020-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:OtherSecuritiesMember2020-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialPortfolioSegmentMember2020-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMember2020-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMember2020-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:SecuritizedCommercialLoanMember2020-12-310001465885wmc:SecuritizedDebtMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:AgencyMortgageBackedSecuritiesMember2021-01-012021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:NonAgencyMortgageBackedSecuritiesMember2021-01-012021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:OtherSecuritiesMember2021-01-012021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialPortfolioSegmentMember2021-01-012021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMember2021-01-012021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMember2021-01-012021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:SecuritizedCommercialLoanMember2021-01-012021-12-310001465885wmc:SecuritizedDebtMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:AgencyMortgageBackedSecuritiesMemberus-gaap:AssetsMember2021-01-012021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:NonAgencyMortgageBackedSecuritiesMemberus-gaap:AssetsMember2021-01-012021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:OtherSecuritiesMemberus-gaap:AssetsMember2021-01-012021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:AssetsMember2021-01-012021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:ResidentialBridgeLoansMemberus-gaap:AssetsMember2021-01-012021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMemberus-gaap:AssetsMember2021-01-012021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberwmc:SecuritizedCommercialLoanMemberus-gaap:AssetsMember2021-01-012021-12-310001465885wmc:SecuritizedDebtMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AssetsMember2021-01-012021-12-310001465885us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001465885us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001465885us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001465885wmc:AgencyRMBSInterestOnlyStripsMember2022-12-310001465885wmc:AgencyResidentialMortgageBackedSecuritiesInterestOnlyStripsAccountedForAsDerivativesMember2022-12-310001465885wmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMember2022-12-310001465885wmc:SubtotalNonAgencyResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885us-gaap:MortgageBackedSecuritiesMember2022-12-310001465885wmc:AgencyRMBSInterestOnlyStripsMember2021-12-310001465885wmc:AgencyResidentialMortgageBackedSecuritiesInterestOnlyStripsAccountedForAsDerivativesMember2021-12-310001465885wmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMember2021-12-310001465885wmc:SubtotalNonAgencyResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885us-gaap:MortgageBackedSecuritiesMember2021-12-310001465885wmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMember2022-12-310001465885wmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMember2021-12-310001465885wmc:ResidualInterestsInAssetBackedSecuritiesAsOtherSecuritiesMember2022-12-310001465885wmc:ResidualInterestsInAssetBackedSecuritiesAsOtherSecuritiesMember2021-12-310001465885us-gaap:MortgageBackedSecuritiesMember2022-01-012022-12-310001465885us-gaap:MortgageBackedSecuritiesMember2021-01-012021-12-310001465885wmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMemberwmc:AgencyRMBSInterestOnlyStripsMember2022-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberwmc:AgencyRMBSInterestOnlyStripsMember2022-12-310001465885wmc:InvestmentsContractualMaturity20To30YearsMemberwmc:AgencyRMBSInterestOnlyStripsMember2022-12-310001465885wmc:InvestmentsContractualMaturityOver30YearsMemberwmc:AgencyRMBSInterestOnlyStripsMember2022-12-310001465885wmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMemberwmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMember2022-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberwmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMember2022-12-310001465885wmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMemberwmc:InvestmentsContractualMaturity20To30YearsMember2022-12-310001465885wmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMemberwmc:InvestmentsContractualMaturityOver30YearsMember2022-12-310001465885wmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMemberwmc:AgencyMortgageBackedSecuritiesMember2022-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberwmc:AgencyMortgageBackedSecuritiesMember2022-12-310001465885wmc:AgencyMortgageBackedSecuritiesMemberwmc:InvestmentsContractualMaturity20To30YearsMember2022-12-310001465885wmc:AgencyMortgageBackedSecuritiesMemberwmc:InvestmentsContractualMaturityOver30YearsMember2022-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberwmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMember2022-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberwmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberwmc:InvestmentsContractualMaturity20To30YearsMember2022-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberwmc:InvestmentsContractualMaturityOver30YearsMember2022-12-310001465885wmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885wmc:InvestmentsContractualMaturity20To30YearsMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885wmc:InvestmentsContractualMaturityOver30YearsMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberwmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMember2022-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberwmc:InvestmentsContractualMaturity10To20YearsMember2022-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberwmc:InvestmentsContractualMaturity20To30YearsMember2022-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberwmc:InvestmentsContractualMaturityOver30YearsMember2022-12-310001465885wmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885wmc:InvestmentsContractualMaturity20To30YearsMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885wmc:InvestmentsContractualMaturityOver30YearsMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885wmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMemberwmc:OtherSecuritiesMember2022-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberwmc:OtherSecuritiesMember2022-12-310001465885wmc:InvestmentsContractualMaturity20To30YearsMemberwmc:OtherSecuritiesMember2022-12-310001465885wmc:InvestmentsContractualMaturityOver30YearsMemberwmc:OtherSecuritiesMember2022-12-310001465885wmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMemberus-gaap:MortgageBackedSecuritiesMember2022-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberus-gaap:MortgageBackedSecuritiesMember2022-12-310001465885wmc:InvestmentsContractualMaturity20To30YearsMemberus-gaap:MortgageBackedSecuritiesMember2022-12-310001465885wmc:InvestmentsContractualMaturityOver30YearsMemberus-gaap:MortgageBackedSecuritiesMember2022-12-310001465885wmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMemberwmc:AgencyRMBSInterestOnlyStripsMember2021-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberwmc:AgencyRMBSInterestOnlyStripsMember2021-12-310001465885wmc:InvestmentsContractualMaturity20To30YearsMemberwmc:AgencyRMBSInterestOnlyStripsMember2021-12-310001465885wmc:InvestmentsContractualMaturityOver30YearsMemberwmc:AgencyRMBSInterestOnlyStripsMember2021-12-310001465885wmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMemberwmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMember2021-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberwmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMember2021-12-310001465885wmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMemberwmc:InvestmentsContractualMaturity20To30YearsMember2021-12-310001465885wmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMemberwmc:InvestmentsContractualMaturityOver30YearsMember2021-12-310001465885wmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMemberwmc:AgencyMortgageBackedSecuritiesMember2021-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberwmc:AgencyMortgageBackedSecuritiesMember2021-12-310001465885wmc:AgencyMortgageBackedSecuritiesMemberwmc:InvestmentsContractualMaturity20To30YearsMember2021-12-310001465885wmc:AgencyMortgageBackedSecuritiesMemberwmc:InvestmentsContractualMaturityOver30YearsMember2021-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberwmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMember2021-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberwmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberwmc:InvestmentsContractualMaturity20To30YearsMember2021-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberwmc:InvestmentsContractualMaturityOver30YearsMember2021-12-310001465885wmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885wmc:InvestmentsContractualMaturity20To30YearsMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885wmc:InvestmentsContractualMaturityOver30YearsMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberwmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMember2021-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberwmc:InvestmentsContractualMaturity10To20YearsMember2021-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberwmc:InvestmentsContractualMaturity20To30YearsMember2021-12-310001465885wmc:NonAgencyRMBSInterestOnlyStripsMemberwmc:InvestmentsContractualMaturityOver30YearsMember2021-12-310001465885wmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885wmc:InvestmentsContractualMaturity20To30YearsMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885wmc:InvestmentsContractualMaturityOver30YearsMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885wmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMemberwmc:OtherSecuritiesMember2021-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberwmc:OtherSecuritiesMember2021-12-310001465885wmc:InvestmentsContractualMaturity20To30YearsMemberwmc:OtherSecuritiesMember2021-12-310001465885wmc:InvestmentsContractualMaturityOver30YearsMemberwmc:OtherSecuritiesMember2021-12-310001465885wmc:InvestmentsContractualMaturityLessThanOrEqualToTenYearsMemberus-gaap:MortgageBackedSecuritiesMember2021-12-310001465885wmc:InvestmentsContractualMaturity10To20YearsMemberus-gaap:MortgageBackedSecuritiesMember2021-12-310001465885wmc:InvestmentsContractualMaturity20To30YearsMemberus-gaap:MortgageBackedSecuritiesMember2021-12-310001465885wmc:InvestmentsContractualMaturityOver30YearsMemberus-gaap:MortgageBackedSecuritiesMember2021-12-31wmc:item0001465885wmc:ResidentialMortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByUsGovernmentSponsoredEnterprisesMember2022-01-012022-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByUsGovernmentSponsoredEnterprisesMember2021-01-012021-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByUsGovernmentSponsoredEnterprisesMember2020-01-012020-12-310001465885wmc:ResidentialMortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-01-012022-12-310001465885wmc:ResidentialMortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2021-01-012021-12-310001465885wmc:ResidentialMortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2020-01-012020-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-01-012022-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-01-012021-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2020-01-012020-12-310001465885wmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-01-012022-12-310001465885wmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-01-012021-12-310001465885wmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2020-01-012020-12-310001465885wmc:OtherSecuritiesMember2022-01-012022-12-310001465885wmc:OtherSecuritiesMember2021-01-012021-12-310001465885wmc:OtherSecuritiesMember2020-01-012020-12-310001465885us-gaap:MortgageBackedSecuritiesMember2020-01-012020-12-310001465885us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2022-01-012022-12-31wmc:loan0001465885us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2021-01-012021-12-310001465885wmc:RMI2015TrustMemberwmc:ArroyoTrustMemberwmc:NonQualifyingAdjustableRateMortgageMember2022-01-012022-12-31wmc:trust0001465885wmc:RMI2015TrustMemberwmc:ArroyoTrustMemberwmc:NonQualifyingAdjustableRateMortgageMember2021-01-012021-12-310001465885wmc:RMI2015TrustMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberwmc:ArroyoTrustMemberwmc:NonQualifyingAdjustableRateMortgageMember2022-12-310001465885wmc:RMI2015TrustMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberwmc:ArroyoTrustMemberwmc:NonQualifyingAdjustableRateMortgageMember2021-12-310001465885wmc:ArroyoMortgageTrust20192Memberwmc:ArroyoTrustMemberus-gaap:ResidentialPortfolioSegmentMember2019-05-012019-05-310001465885wmc:ArroyoMortgageTrust20192Memberus-gaap:ResidentialPortfolioSegmentMember2019-05-310001465885wmc:ArroyoMortgageTrust20192Memberwmc:ArroyoTrustMemberwmc:NonQualifyingAdjustableRateMortgageMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20192Memberwmc:ArroyoTrustMemberwmc:NonQualifyingAdjustableRateMortgageMember2021-01-012021-12-310001465885us-gaap:EstimateOfFairValueFairValueDisclosureMemberwmc:ArroyoMortgageTrust20192Memberwmc:ArroyoTrustMemberwmc:NonQualifyingAdjustableRateMortgageMember2022-12-310001465885us-gaap:EstimateOfFairValueFairValueDisclosureMemberwmc:ArroyoMortgageTrust20192Memberwmc:ArroyoTrustMemberwmc:NonQualifyingAdjustableRateMortgageMember2021-12-310001465885wmc:ArroyoMortgageTrust20201Memberwmc:ArroyoTrustMemberus-gaap:ResidentialPortfolioSegmentMember2020-06-300001465885wmc:ArroyoMortgageTrust20201Memberus-gaap:ResidentialPortfolioSegmentMember2020-06-300001465885wmc:ArroyoMortgageTrust20201Memberwmc:ArroyoTrustMemberwmc:NonQualifyingAdjustableRateMortgageMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20201Memberwmc:ArroyoTrustMemberwmc:NonQualifyingAdjustableRateMortgageMember2021-01-012021-12-310001465885wmc:ArroyoMortgageTrust20201Memberwmc:ArroyoTrustMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885wmc:ArroyoMortgageTrust20201Memberwmc:ArroyoTrustMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885wmc:ArroyoMortgageTrust20221Memberwmc:ArroyoTrustMemberus-gaap:ResidentialPortfolioSegmentMember2022-02-280001465885wmc:ArroyoMortgageTrust20221Memberus-gaap:ResidentialPortfolioSegmentMember2022-02-280001465885wmc:ArroyoMortgageTrust20221Memberwmc:ArroyoTrustMemberwmc:NonQualifyingAdjustableRateMortgageMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20221Memberwmc:ArroyoTrustMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885wmc:ArroyoMortgageTrust20222Memberwmc:ArroyoTrustMemberus-gaap:ResidentialPortfolioSegmentMember2022-07-310001465885wmc:ArroyoMortgageTrust20222Memberus-gaap:ResidentialPortfolioSegmentMember2022-07-310001465885wmc:ArroyoMortgageTrust20222Memberwmc:ArroyoTrustMemberwmc:NonQualifyingAdjustableRateMortgageMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20222Memberwmc:ArroyoTrustMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885wmc:ResidentialBridgeLoansMemberwmc:NonQualifyingAdjustableRateMortgageMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoansMemberwmc:NonQualifyingAdjustableRateMortgageMember2021-01-012021-12-310001465885wmc:ResidentialBridgeLoansMemberwmc:NonQualifyingAdjustableRateMortgageMember2022-12-310001465885wmc:ResidentialBridgeLoansMemberwmc:NonQualifyingAdjustableRateMortgageMember2021-12-310001465885wmc:InvestorFixedRateMortgageMemberwmc:ResidentialBridgeLoansMember2022-01-012022-12-310001465885wmc:InvestorFixedRateMortgageMemberwmc:ResidentialBridgeLoansMember2021-01-012021-12-310001465885us-gaap:EstimateOfFairValueFairValueDisclosureMemberwmc:InvestorFixedRateMortgageMemberwmc:ResidentialBridgeLoansMember2022-12-310001465885us-gaap:EstimateOfFairValueFairValueDisclosureMemberwmc:InvestorFixedRateMortgageMemberwmc:ResidentialBridgeLoansMember2021-12-310001465885wmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310001465885wmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310001465885wmc:ResidentialWholeLoansMember2022-12-310001465885wmc:ResidentialWholeLoansMember2021-12-310001465885wmc:ResidentialBridgeLoansAtFairValueMember2022-12-310001465885wmc:ResidentialBridgeLoansAtFairValueMember2021-12-310001465885wmc:NonQualifyingAdjustableRateMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2022-01-012022-12-310001465885wmc:InvestorFixedRateMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2022-01-012022-12-310001465885srt:MinimumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateOneMember2022-01-012022-12-310001465885srt:MaximumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateOneMember2022-01-012022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateOneMember2022-01-012022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateOneMember2022-12-31wmc:fICO_Score0001465885srt:MinimumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateTwoMember2022-01-012022-12-310001465885srt:MaximumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateTwoMember2022-01-012022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateTwoMember2022-01-012022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateTwoMember2022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateThreeMembersrt:MinimumMember2022-01-012022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateThreeMembersrt:MaximumMember2022-01-012022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateThreeMember2022-01-012022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateThreeMember2022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateFourMembersrt:MinimumMember2022-01-012022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateFourMembersrt:MaximumMember2022-01-012022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateFourMember2022-01-012022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateFourMember2022-12-310001465885srt:MinimumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateFiveMember2022-01-012022-12-310001465885srt:MaximumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateFiveMember2022-01-012022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateFiveMember2022-01-012022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateFiveMember2022-12-310001465885srt:MinimumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateSixMember2022-01-012022-12-310001465885srt:MaximumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateSixMember2022-01-012022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateSixMember2022-01-012022-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateSixMember2022-12-310001465885us-gaap:ResidentialPortfolioSegmentMember2022-01-012022-12-310001465885us-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885wmc:ResidentialPortfolioSegmentWithNoFicoScoreMember2022-01-012022-12-310001465885wmc:ResidentialPortfolioSegmentWithNoFicoScoreMember2022-12-310001465885srt:MinimumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateOneMember2021-01-012021-12-310001465885srt:MaximumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateOneMember2021-01-012021-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateOneMember2021-01-012021-12-31wmc:director0001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateOneMember2021-12-310001465885srt:MinimumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateTwoMember2021-01-012021-12-310001465885srt:MaximumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateTwoMember2021-01-012021-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateTwoMember2021-01-012021-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateTwoMember2021-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateThreeMembersrt:MinimumMember2021-01-012021-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateThreeMembersrt:MaximumMember2021-01-012021-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateThreeMember2021-01-012021-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateThreeMember2021-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateFourMembersrt:MinimumMember2021-01-012021-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateFourMembersrt:MaximumMember2021-01-012021-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateFourMember2021-01-012021-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateFourMember2021-12-310001465885srt:MinimumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateFiveMember2021-01-012021-12-310001465885srt:MaximumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateFiveMember2021-01-012021-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateFiveMember2021-01-012021-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateFiveMember2021-12-310001465885srt:MinimumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateSixMember2021-01-012021-12-310001465885srt:MaximumMemberwmc:ResidentialPortfolioSegmentCurrentCouponRateSixMember2021-01-012021-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateSixMember2021-01-012021-12-310001465885wmc:ResidentialPortfolioSegmentCurrentCouponRateSixMember2021-12-310001465885us-gaap:ResidentialPortfolioSegmentMember2021-01-012021-12-310001465885us-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885wmc:ResidentialPortfolioSegmentWithNoFicoScoreMember2021-01-012021-12-310001465885wmc:ResidentialPortfolioSegmentWithNoFicoScoreMember2021-12-310001465885stpr:CAus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2022-01-012022-12-310001465885stpr:CAus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885stpr:CAus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2021-01-012021-12-310001465885stpr:CAus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885stpr:NYus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2022-01-012022-12-310001465885stpr:NYus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885stpr:NYus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2021-01-012021-12-310001465885stpr:NYus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885stpr:TXus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2022-01-012022-12-310001465885stpr:TXus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885stpr:FLus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2021-01-012021-12-310001465885stpr:FLus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885stpr:FLus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2022-01-012022-12-310001465885stpr:FLus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885stpr:GAus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2021-01-012021-12-310001465885stpr:GAus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885stpr:GAus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2022-01-012022-12-310001465885stpr:GAus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885stpr:TXus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2021-01-012021-12-310001465885stpr:TXus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885wmc:OtherStatesMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2022-01-012022-12-310001465885wmc:OtherStatesMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885wmc:OtherStatesMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2021-01-012021-12-310001465885wmc:OtherStatesMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885us-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2022-01-012022-12-310001465885us-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885us-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2021-01-012021-12-310001465885us-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310001465885srt:MinimumMemberwmc:ResidentialBridgeLoanCurrentCouponRateOneMember2022-01-012022-12-310001465885srt:MaximumMemberwmc:ResidentialBridgeLoanCurrentCouponRateOneMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateOneMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateOneMember2022-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateTwoMembersrt:MinimumMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateTwoMembersrt:MaximumMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateTwoMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateTwoMember2022-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateThreeMembersrt:MinimumMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateThreeMembersrt:MaximumMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateThreeMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateThreeMember2022-12-310001465885wmc:ResidentialBridgeLoansMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoansMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310001465885srt:MinimumMemberwmc:ResidentialBridgeLoanCurrentCouponRateOneMember2021-01-012021-12-310001465885srt:MaximumMemberwmc:ResidentialBridgeLoanCurrentCouponRateOneMember2021-01-012021-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateOneMember2021-01-012021-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateOneMember2021-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateTwoMembersrt:MinimumMember2021-01-012021-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateTwoMembersrt:MaximumMember2021-01-012021-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateTwoMember2021-01-012021-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateTwoMember2021-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateThreeMembersrt:MinimumMember2021-01-012021-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateThreeMembersrt:MaximumMember2021-01-012021-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateThreeMember2021-01-012021-12-310001465885wmc:ResidentialBridgeLoanCurrentCouponRateThreeMember2021-12-310001465885wmc:ResidentialBridgeLoansMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-01-012021-12-310001465885wmc:ResidentialBridgeLoansMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310001465885stpr:CAwmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2022-01-012022-12-310001465885stpr:CAwmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2022-12-310001465885wmc:ResidentialBridgeLoansMemberstpr:NYus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2021-01-012021-12-310001465885wmc:ResidentialBridgeLoansMemberstpr:NYus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2021-12-310001465885wmc:ResidentialBridgeLoansMemberstpr:NYus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoansMemberstpr:NYus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2022-12-310001465885stpr:CAwmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2021-01-012021-12-310001465885stpr:CAwmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2021-12-310001465885stpr:NJwmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2022-01-012022-12-310001465885stpr:NJwmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2022-12-310001465885stpr:FLwmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2021-01-012021-12-310001465885stpr:FLwmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2021-12-310001465885wmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2022-12-310001465885stpr:NJwmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2021-01-012021-12-310001465885stpr:NJwmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2021-12-310001465885wmc:ResidentialBridgeLoansMemberstpr:PAus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2021-01-012021-12-310001465885wmc:ResidentialBridgeLoansMemberstpr:PAus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2021-12-310001465885wmc:OtherStatesMemberwmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2021-01-012021-12-310001465885wmc:OtherStatesMemberwmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2021-12-310001465885wmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2021-01-012021-12-310001465885wmc:ResidentialBridgeLoansMemberus-gaap:GeographicConcentrationRiskMemberwmc:FinancingReceivablesTotalMember2021-12-310001465885wmc:ResidentialWholeLoansMemberwmc:FinancingReceivablesCurrentMember2022-01-012022-12-310001465885wmc:ResidentialWholeLoansMemberwmc:FinancingReceivablesCurrentMember2022-12-310001465885wmc:FinancingReceivablesCurrentMemberwmc:ResidentialBridgeLoansMember2022-01-012022-12-310001465885wmc:FinancingReceivablesCurrentMemberwmc:ResidentialBridgeLoansMember2022-12-310001465885wmc:ResidentialWholeLoansMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2022-01-012022-12-310001465885wmc:ResidentialWholeLoansMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2022-12-310001465885wmc:ResidentialBridgeLoansMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoansMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2022-12-310001465885wmc:ResidentialWholeLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-01-012022-12-310001465885wmc:ResidentialWholeLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-12-310001465885wmc:ResidentialBridgeLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-12-310001465885us-gaap:FinancingReceivables60To89DaysPastDueMemberwmc:ResidentialWholeLoansMember2022-01-012022-12-310001465885us-gaap:FinancingReceivables60To89DaysPastDueMemberwmc:ResidentialWholeLoansMember2022-12-310001465885us-gaap:FinancingReceivables60To89DaysPastDueMemberwmc:ResidentialBridgeLoansMember2022-01-012022-12-310001465885us-gaap:FinancingReceivables60To89DaysPastDueMemberwmc:ResidentialBridgeLoansMember2022-12-310001465885wmc:ResidentialWholeLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-01-012022-12-310001465885wmc:ResidentialWholeLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-12-310001465885wmc:ResidentialBridgeLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-12-310001465885wmc:ResidentialWholeLoansMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoansMember2022-01-012022-12-310001465885wmc:ResidentialBridgeLoansMember2022-12-310001465885us-gaap:ResidentialPortfolioSegmentMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-01-012022-12-310001465885us-gaap:ResidentialPortfolioSegmentMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310001465885us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310001465885us-gaap:ResidentialPortfolioSegmentMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-01-012021-12-310001465885us-gaap:ResidentialPortfolioSegmentMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310001465885us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310001465885us-gaap:EstimateOfFairValueFairValueDisclosureMemberwmc:ResidentialBridgeLoansMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310001465885us-gaap:BridgeLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-01-012021-12-310001465885us-gaap:EstimateOfFairValueFairValueDisclosureMemberwmc:ResidentialBridgeLoansMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-31wmc:property0001465885wmc:InterestOnlyMezzanineLoanMemberwmc:CREThreeMemberwmc:SecuritizedCommercialLoanMemberwmc:EntertainmentAndRetailMemberwmc:CRELLCAndCREMezzMember2022-12-310001465885wmc:InterestOnlyMezzanineLoanMemberwmc:CREThreeMemberwmc:SecuritizedCommercialLoanMemberwmc:EntertainmentAndRetailMemberwmc:CRELLCAndCREMezzMember2022-01-012022-12-310001465885wmc:InterestOnlyMezzanineLoanMemberwmc:CREThreeMemberwmc:SecuritizedCommercialLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMemberwmc:EntertainmentAndRetailMemberwmc:CRELLCAndCREMezzMember2022-01-012022-12-310001465885srt:RetailSiteMemberwmc:SecuritizedCommercialLoanMemberwmc:CREFourMemberwmc:CRELLCAndCREMezzMemberwmc:InterestOnlyFirstMortgageMember2022-12-310001465885srt:RetailSiteMemberwmc:SecuritizedCommercialLoanMemberwmc:CREFourMemberwmc:CRELLCAndCREMezzMemberwmc:InterestOnlyFirstMortgageMember2022-01-012022-12-310001465885srt:RetailSiteMemberwmc:SecuritizedCommercialLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMemberwmc:CREFourMemberwmc:CRELLCAndCREMezzMemberwmc:InterestOnlyFirstMortgageMember2022-01-012022-12-310001465885wmc:CREFiveMemberwmc:SecuritizedCommercialLoanMembersrt:HotelMemberwmc:CRELLCAndCREMezzMemberwmc:InterestOnlyFirstMortgageMember2022-12-310001465885wmc:CREFiveMemberwmc:SecuritizedCommercialLoanMembersrt:HotelMemberwmc:CRELLCAndCREMezzMemberwmc:InterestOnlyFirstMortgageMember2022-01-012022-12-310001465885wmc:CREFiveMemberwmc:SecuritizedCommercialLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMembersrt:HotelMemberwmc:CRELLCAndCREMezzMemberwmc:InterestOnlyFirstMortgageMember2022-01-012022-12-310001465885wmc:CRESixMemberwmc:SecuritizedCommercialLoanMembersrt:HotelMemberwmc:CRELLCAndCREMezzMemberwmc:InterestOnlyFirstMortgageMember2022-12-310001465885wmc:CRESixMemberwmc:SecuritizedCommercialLoanMembersrt:HotelMemberwmc:CRELLCAndCREMezzMemberwmc:InterestOnlyFirstMortgageMember2022-01-012022-12-310001465885wmc:CRESixMemberwmc:SecuritizedCommercialLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMembersrt:HotelMemberwmc:CRELLCAndCREMezzMemberwmc:InterestOnlyFirstMortgageMember2022-01-012022-12-310001465885wmc:CRESevenMemberwmc:SecuritizedCommercialLoanMembersrt:HotelMemberwmc:CRELLCAndCREMezzMemberwmc:InterestOnlyFirstMortgageMember2022-12-310001465885wmc:CRESevenMemberwmc:SecuritizedCommercialLoanMembersrt:HotelMemberwmc:CRELLCAndCREMezzMemberwmc:InterestOnlyFirstMortgageMember2022-01-012022-12-310001465885wmc:CRESevenMemberwmc:SecuritizedCommercialLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMembersrt:HotelMemberwmc:CRELLCAndCREMezzMemberwmc:InterestOnlyFirstMortgageMember2022-01-012022-12-310001465885wmc:SecuritizedCommercialLoanMemberwmc:CRELLCAndCREMezzMember2022-12-310001465885srt:RetailSiteMemberus-gaap:CommercialLoanMemberwmc:CREThreeMember2022-12-310001465885wmc:InterestOnlyMezzanineLoanMemberwmc:CREThreeMemberwmc:SecuritizedCommercialLoanMember2022-06-300001465885wmc:InterestOnlyMezzanineLoanMemberwmc:CREThreeMemberwmc:SecuritizedCommercialLoanMemberus-gaap:SubsequentEventMember2023-02-030001465885wmc:CREEightMemberwmc:SecuritizedCommercialLoanMember2022-09-160001465885wmc:RSBCTrustMemberwmc:SecuritizedCommercialLoanMemberwmc:NursingFacilitiesMemberwmc:SBCThreeMemberwmc:InterestOnlyFirstMortgageMember2022-12-310001465885wmc:RSBCTrustMemberwmc:SecuritizedCommercialLoanMemberwmc:NursingFacilitiesMemberwmc:SBCThreeMemberwmc:InterestOnlyFirstMortgageMember2022-01-012022-12-310001465885wmc:RSBCTrustMemberwmc:SecuritizedCommercialLoanMemberwmc:NursingFacilitiesMemberus-gaap:LondonInterbankOfferedRateLIBORMemberwmc:SBCThreeMemberwmc:InterestOnlyFirstMortgageMember2022-01-012022-12-310001465885wmc:RSBCTrustMemberwmc:SecuritizedCommercialLoanMember2022-12-310001465885wmc:CTPortfolioMemberwmc:RSBCTrustMemberwmc:SecuritizedCommercialLoanMemberwmc:NursingFacilitiesMemberus-gaap:LondonInterbankOfferedRateLIBORMemberwmc:InterestOnlyFirstMortgageMember2022-07-310001465885wmc:CTPortfolioMemberwmc:RSBCTrustMemberwmc:SecuritizedCommercialLoanMemberwmc:NursingFacilitiesMemberus-gaap:SubsequentEventMemberwmc:InterestOnlyFirstMortgageMember2023-01-012023-01-310001465885wmc:CTPortfolioMemberwmc:RSBCTrustMemberwmc:SecuritizedCommercialLoanMemberwmc:NursingFacilitiesMemberus-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:SubsequentEventMemberwmc:InterestOnlyFirstMortgageMember2023-01-31wmc:entity0001465885wmc:SecuritizedCommercialLoanMemberwmc:RETLTrustMember2019-03-012019-03-310001465885wmc:SecuritizedCommercialLoanMemberwmc:RETLTrustMember2021-09-152021-09-150001465885wmc:CSMC2014TrustMember2022-12-310001465885wmc:CommercialMortgagePassThroughCertificateClassFMemberwmc:CSMC2014TrustMemberus-gaap:SecuredDebtMember2022-12-310001465885wmc:CSMC2014TrustMemberwmc:SecuritizedCommercialLoanMember2022-12-310001465885wmc:CSMC2014TrustMember2022-01-012022-12-310001465885us-gaap:CommercialLoanMember2022-01-012022-12-310001465885wmc:SecuritizedCommercialLoanMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310001465885wmc:SecuritizedCommercialLoanMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310001465885wmc:CSMCUSATrustMember2022-12-310001465885wmc:CSMCUSATrustMember2021-12-310001465885wmc:RSBCTrustMember2022-12-310001465885wmc:RSBCTrustMember2021-12-310001465885wmc:CommercialMezzanineLoanMember2022-12-310001465885wmc:CommercialMezzanineLoanMember2021-12-310001465885wmc:FinancingReceivablesCurrentMemberus-gaap:CommercialLoanMember2022-12-310001465885us-gaap:CommercialLoanMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2022-12-310001465885us-gaap:CommercialLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-12-310001465885us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialLoanMember2022-12-310001465885us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialLoanMember2022-12-310001465885us-gaap:CommercialLoanMember2022-12-3100014658852022-02-012022-02-2800014658852022-02-280001465885wmc:ResidentialBridgeLoansMember2021-12-310001465885us-gaap:RepurchaseAgreementsMembersrt:MinimumMember2022-01-012022-12-310001465885us-gaap:RepurchaseAgreementsMembersrt:MaximumMember2022-01-012022-12-31wmc:agreement0001465885wmc:NonQMLoansMemberwmc:ResidentialLoanWarehouseFacilityMember2021-11-050001465885wmc:ResidentialLoanWarehouseFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-11-052021-11-050001465885srt:MinimumMemberwmc:ResidentialLoanWarehouseFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-11-052021-11-050001465885wmc:NonQMLoansMemberwmc:ResidentialLoanWarehouseFacilityMember2021-11-052021-11-050001465885wmc:NonQMLoansMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberwmc:ArroyoTrustMember2022-11-092022-11-090001465885srt:MinimumMemberwmc:NonQMLoansMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberwmc:ArroyoTrustMember2022-01-012022-12-310001465885wmc:NonQMLoansMemberwmc:ArroyoTrustMember2022-12-310001465885wmc:ArroyoMortgageTrust2020Memberwmc:ArroyoTrustMemberwmc:NonQMLoansMember2022-12-310001465885wmc:ArroyoTrustMemberwmc:RealEstateOwnedPropertyMember2022-12-310001465885wmc:NonAgencyCMBSAndNonAgencyRMBSFacilityMember2021-05-052021-05-050001465885wmc:NonAgencyCMBSAndNonAgencyRMBSFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-05-052021-05-050001465885wmc:NonAgencyCMBSAndNonAgencyRMBSFacilityMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2022-01-012022-12-310001465885wmc:NonAgencyCMBSAndNonAgencyRMBSFacilityMember2022-12-310001465885wmc:CommercialWholeLoanFacilityMember2021-05-052021-05-050001465885wmc:CommercialWholeLoanFacilityMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-05-050001465885wmc:NonAgencyCMBSAndNonAgencyRMBSFacilityMemberwmc:SecuritiesSoldUnderAgreementsRepurchaseMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2022-01-012022-12-310001465885wmc:CommercialWholeLoanFacilityMemberwmc:SecuritiesSoldUnderAgreementsRepurchaseMember2022-12-310001465885wmc:CommercialWholeLoanFacilityMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-01-012022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2021-01-012021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-01-012022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-01-012021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:WholeLoansAndSecuritizedResidentialLoanMember2022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:WholeLoansAndSecuritizedResidentialLoanMember2022-01-012022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:WholeLoansAndSecuritizedResidentialLoanMember2021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:WholeLoansAndSecuritizedResidentialLoanMember2021-01-012021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialBridgeLoansMember2022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialBridgeLoansMember2022-01-012022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialBridgeLoansMember2021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialBridgeLoansMember2021-01-012021-12-310001465885us-gaap:CommercialLoanMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2022-12-310001465885us-gaap:CommercialLoanMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2022-01-012022-12-310001465885us-gaap:CommercialLoanMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-12-310001465885us-gaap:CommercialLoanMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-01-012021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:OtherSecuritiesMember2022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:OtherSecuritiesMember2022-01-012022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:OtherSecuritiesMember2021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:OtherSecuritiesMember2021-01-012021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2022-01-012022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-01-012021-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2022-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2022-01-012022-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-12-310001465885wmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-01-012021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-01-012022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:ResidentialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-01-012021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:OtherSecuritiesMember2022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:OtherSecuritiesMember2022-01-012022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:OtherSecuritiesMember2021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:OtherSecuritiesMember2021-01-012021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:CommercialAndResidentialMortgageBackSecuritiesMember2022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:CommercialAndResidentialMortgageBackSecuritiesMember2022-01-012022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:CommercialAndResidentialMortgageBackSecuritiesMember2021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:CommercialAndResidentialMortgageBackSecuritiesMember2021-01-012021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:WholeLoansAndSecuritizedResidentialLoanMember2022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:WholeLoansAndSecuritizedResidentialLoanMember2022-01-012022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:WholeLoansAndSecuritizedResidentialLoanMember2021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:WholeLoansAndSecuritizedResidentialLoanMember2021-01-012021-12-310001465885us-gaap:CommercialLoanMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2022-12-310001465885us-gaap:CommercialLoanMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2022-01-012022-12-310001465885us-gaap:CommercialLoanMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-12-310001465885us-gaap:CommercialLoanMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-01-012021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2022-01-012022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-01-012021-12-310001465885us-gaap:MaturityUpTo30DaysMember2022-12-310001465885us-gaap:MaturityUpTo30DaysMember2021-12-310001465885wmc:Maturity30To59DaysMember2022-12-310001465885wmc:Maturity30To59DaysMember2021-12-310001465885wmc:Maturity60To89DaysMember2022-12-310001465885wmc:Maturity60To89DaysMember2021-12-310001465885us-gaap:MaturityOver90DaysMember2022-12-310001465885us-gaap:MaturityOver90DaysMember2021-12-310001465885wmc:CreditSuisseAGCaymanIslandsBranchMember2022-12-310001465885wmc:CreditSuisseAGCaymanIslandsBranchMember2022-01-012022-12-310001465885wmc:CitigroupGlobalMarketsIncMember2022-12-310001465885wmc:CitigroupGlobalMarketsIncMember2022-01-012022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001465885us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberwmc:CommercialMortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310001465885us-gaap:CashMember2022-12-310001465885us-gaap:CashMember2021-12-310001465885us-gaap:ConvertibleDebtMemberwmc:SixPointSeventyFivePercentConvertibleSeniorUnsecuredNotesDue2024Member2022-12-310001465885us-gaap:ConvertibleDebtMemberwmc:SixPointSeventyFivePercentConvertibleSeniorUnsecuredNotesDue2024Member2021-09-300001465885us-gaap:ConvertibleDebtMemberwmc:SixPointSeventyFivePercentConvertibleSeniorUnsecuredNotesDue2024Member2021-09-012021-09-300001465885us-gaap:ConvertibleDebtMemberwmc:SixPointSeventyFivePercentConvertibleSeniorUnsecuredNotesDue2022Member2022-12-310001465885us-gaap:ConvertibleDebtMemberwmc:SixPointSeventyFivePercentConvertibleSeniorUnsecuredNotesDue2022Member2021-12-310001465885wmc:SixPointSeventyFivePercentConvertibleSeniorUnsecuredNotesDue2022Member2021-12-310001465885wmc:SixPointSeventyFivePercentConvertibleSeniorUnsecuredNotesDue2022Member2021-09-300001465885wmc:SixPointSeventyFivePercentConvertibleSeniorUnsecuredNotesDue2022Member2021-03-310001465885wmc:SixPointSeventyFivePercentConvertibleSeniorUnsecuredNotesDue2022Member2022-09-300001465885wmc:SixPointSeventyFivePercentConvertibleSeniorUnsecuredNotesDue2022Member2022-06-300001465885wmc:SixPointSeventyFivePercentConvertibleSeniorUnsecuredNotesDue2022Member2022-03-310001465885wmc:SixPointSeventyFivePercentConvertibleSeniorUnsecuredNotesDue2022Member2022-12-310001465885wmc:ArroyoMortgageTrust20192Memberwmc:CommercialMortgagePassThroughCertificateClassA1Memberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20192Memberwmc:CommercialMortgagePassThroughCertificateClassA1Memberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20192Memberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassA2Member2022-12-310001465885wmc:ArroyoMortgageTrust20192Memberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassA2Member2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20192Memberwmc:CommercialMortgagePassThroughCertificateClassA3Memberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20192Memberwmc:CommercialMortgagePassThroughCertificateClassA3Memberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20192Memberwmc:CommercialMortgagePassThroughCertificateClassM1Memberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20192Memberwmc:CommercialMortgagePassThroughCertificateClassM1Memberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20192Memberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20192Memberus-gaap:SecuredDebtMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885wmc:ArroyoMortgageTrust20192Memberus-gaap:SecuredDebtMemberus-gaap:ResidentialPortfolioSegmentMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20201Memberus-gaap:ResidentialPortfolioSegmentMember2022-06-300001465885wmc:ArroyoMortgageTrust20201Memberwmc:CommercialMortgagePassThroughCertificateClassA1AMemberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20201Memberwmc:CommercialMortgagePassThroughCertificateClassA1AMemberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20201Memberwmc:CommercialMortgagePassThroughCertificateClassA1BMemberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20201Memberwmc:CommercialMortgagePassThroughCertificateClassA1BMemberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20201Memberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassA2Member2022-12-310001465885wmc:ArroyoMortgageTrust20201Memberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassA2Member2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20201Memberwmc:CommercialMortgagePassThroughCertificateClassA3Memberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20201Memberwmc:CommercialMortgagePassThroughCertificateClassA3Memberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20201Memberwmc:CommercialMortgagePassThroughCertificateClassM1Memberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20201Memberwmc:CommercialMortgagePassThroughCertificateClassM1Memberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20201Memberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20201Memberus-gaap:SecuredDebtMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885wmc:ArroyoMortgageTrust20201Memberus-gaap:SecuredDebtMemberus-gaap:ResidentialPortfolioSegmentMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20221Memberwmc:ArroyoTrustMemberus-gaap:ResidentialPortfolioSegmentMember2022-02-012022-02-280001465885wmc:ArroyoMortgageTrust20221Memberwmc:CommercialMortgagePassThroughCertificateClassA1AMemberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20221Memberwmc:CommercialMortgagePassThroughCertificateClassA1AMemberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20221Memberwmc:CommercialMortgagePassThroughCertificateClassA1BMemberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20221Memberwmc:CommercialMortgagePassThroughCertificateClassA1BMemberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20221Memberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassA2Member2022-12-310001465885wmc:ArroyoMortgageTrust20221Memberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassA2Member2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20221Memberwmc:CommercialMortgagePassThroughCertificateClassA3Memberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20221Memberwmc:CommercialMortgagePassThroughCertificateClassA3Memberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20221Memberwmc:CommercialMortgagePassThroughCertificateClassM1Memberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20221Memberwmc:CommercialMortgagePassThroughCertificateClassM1Memberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20221Memberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20221Memberus-gaap:SecuredDebtMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885wmc:ArroyoMortgageTrust20221Memberus-gaap:SecuredDebtMemberus-gaap:ResidentialPortfolioSegmentMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20222Memberus-gaap:SecuredDebtMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001465885wmc:ArroyoMortgageTrust20222Memberwmc:ArroyoTrustMemberus-gaap:ResidentialPortfolioSegmentMember2022-07-012022-07-310001465885wmc:ArroyoMortgageTrust20222Memberwmc:CommercialMortgagePassThroughCertificateClassA1Memberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20222Memberwmc:CommercialMortgagePassThroughCertificateClassA1Memberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20222Memberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassA2Member2022-12-310001465885wmc:ArroyoMortgageTrust20222Memberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassA2Member2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20222Memberwmc:CommercialMortgagePassThroughCertificateClassA3Memberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20222Memberwmc:CommercialMortgagePassThroughCertificateClassA3Memberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20222Memberwmc:CommercialMortgagePassThroughCertificateClassM1Memberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20222Memberwmc:CommercialMortgagePassThroughCertificateClassM1Memberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:ArroyoMortgageTrust20222Memberus-gaap:SecuredDebtMember2022-12-310001465885wmc:ArroyoMortgageTrust20222Memberus-gaap:SecuredDebtMemberus-gaap:ResidentialPortfolioSegmentMember2022-01-012022-12-310001465885wmc:CommercialMortgagePassThroughCertificateClassA1Memberwmc:CSMC2014TrustMemberus-gaap:SecuredDebtMember2022-12-310001465885wmc:CommercialMortgagePassThroughCertificateClassA1Memberwmc:CSMC2014TrustMemberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:CSMC2014TrustMemberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassA2Member2022-12-310001465885wmc:CSMC2014TrustMemberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassA2Member2022-01-012022-12-310001465885wmc:CSMC2014TrustMemberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassBMember2022-12-310001465885wmc:CSMC2014TrustMemberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassBMember2022-01-012022-12-310001465885wmc:CSMC2014TrustMemberwmc:CommercialMortgagePassThroughCertificateClassCMemberus-gaap:SecuredDebtMember2022-12-310001465885wmc:CSMC2014TrustMemberwmc:CommercialMortgagePassThroughCertificateClassCMemberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:CommercialMortgagePassThroughCertificateClassDMemberwmc:CSMC2014TrustMemberus-gaap:SecuredDebtMember2022-12-310001465885wmc:CommercialMortgagePassThroughCertificateClassDMemberwmc:CSMC2014TrustMemberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:CSMC2014TrustMemberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassEMember2022-12-310001465885wmc:CSMC2014TrustMemberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassEMember2022-01-012022-12-310001465885wmc:CommercialMortgagePassThroughCertificateClassFMemberwmc:CSMC2014TrustMemberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:CSMC2014TrustMemberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassX1Member2022-01-012022-12-310001465885wmc:CSMC2014TrustMemberus-gaap:SecuredDebtMemberwmc:CommercialMortgagePassThroughCertificateClassX1Member2022-12-310001465885wmc:CSMC2014TrustMemberwmc:CommercialMortgagePassThroughCertificateClassX2Memberus-gaap:SecuredDebtMember2022-01-012022-12-310001465885wmc:CSMC2014TrustMemberwmc:CommercialMortgagePassThroughCertificateClassX2Memberus-gaap:SecuredDebtMember2022-12-310001465885wmc:CSMC2014TrustMemberus-gaap:SecuredDebtMember2022-12-310001465885wmc:CommercialMortgagePassThroughCertificateClassFMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberwmc:CSMC2014TrustMemberus-gaap:SecuredDebtMember2022-12-310001465885wmc:CSMC2014TrustMember2022-12-310001465885wmc:CSMC2014TrustMembersrt:AffiliatedEntityMember2022-12-310001465885wmc:CSMC2014TrustMemberwmc:ThirdPartyMember2022-12-310001465885us-gaap:ConvertibleDebtMemberwmc:SixPointSeventyFivePercentConvertibleSeniorUnsecuredNotesDue2024Member2022-01-012022-12-310001465885us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2022-12-310001465885us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2021-12-310001465885us-gaap:CreditDefaultSwapMemberus-gaap:NondesignatedMember2022-12-310001465885us-gaap:CreditDefaultSwapMemberus-gaap:NondesignatedMember2021-12-310001465885us-gaap:NondesignatedMember2022-12-310001465885us-gaap:NondesignatedMember2021-12-310001465885us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2022-01-012022-12-310001465885us-gaap:InterestRateSwaptionMemberus-gaap:NondesignatedMember2022-01-012022-12-310001465885us-gaap:NondesignatedMemberwmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMember2022-01-012022-12-310001465885us-gaap:CreditDefaultSwapMemberus-gaap:NondesignatedMember2022-01-012022-12-310001465885wmc:ToBeAnnouncedSecuritiesMemberus-gaap:NondesignatedMember2022-01-012022-12-310001465885us-gaap:NondesignatedMember2022-01-012022-12-310001465885us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2021-01-012021-12-310001465885us-gaap:NondesignatedMemberwmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMember2021-01-012021-12-310001465885us-gaap:CreditDefaultSwapMemberus-gaap:NondesignatedMember2021-01-012021-12-310001465885us-gaap:NondesignatedMember2021-01-012021-12-310001465885us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2020-01-012020-12-310001465885us-gaap:InterestRateSwaptionMemberus-gaap:NondesignatedMember2020-01-012020-12-310001465885us-gaap:NondesignatedMemberwmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMember2020-01-012020-12-310001465885us-gaap:CreditDefaultSwapMemberus-gaap:NondesignatedMember2020-01-012020-12-310001465885wmc:ToBeAnnouncedSecuritiesMemberus-gaap:NondesignatedMember2020-01-012020-12-310001465885us-gaap:NondesignatedMember2020-01-012020-12-310001465885wmc:DueFromCounterpartiesMember2022-12-310001465885wmc:DueFromCounterpartiesMember2021-12-310001465885us-gaap:InterestRateSwapMemberwmc:GreaterThanOneYearAndLessThanThreeYearsMember2022-12-310001465885us-gaap:InterestRateSwapMemberwmc:GreaterThanOneYearAndLessThanThreeYearsMember2022-01-012022-12-310001465885wmc:GreaterThanThreeYearsAndLessThanFiveYearsMemberus-gaap:InterestRateSwapMember2022-12-310001465885wmc:GreaterThanThreeYearsAndLessThanFiveYearsMemberus-gaap:InterestRateSwapMember2022-01-012022-12-310001465885us-gaap:InterestRateSwapMemberwmc:GreaterThanFiveYearsMember2022-12-310001465885us-gaap:InterestRateSwapMemberwmc:GreaterThanFiveYearsMember2022-01-012022-12-310001465885us-gaap:InterestRateSwapMember2022-12-310001465885us-gaap:InterestRateSwapMember2022-01-012022-12-310001465885us-gaap:LongMemberwmc:ToBeAnnouncedSecuritiesMemberus-gaap:NondesignatedMember2021-12-310001465885us-gaap:LongMemberwmc:ToBeAnnouncedSecuritiesMemberus-gaap:NondesignatedMember2022-01-012022-12-310001465885us-gaap:LongMemberwmc:ToBeAnnouncedSecuritiesMemberus-gaap:NondesignatedMember2022-12-310001465885us-gaap:ShortMemberwmc:ToBeAnnouncedSecuritiesMemberus-gaap:NondesignatedMember2021-12-310001465885us-gaap:ShortMemberwmc:ToBeAnnouncedSecuritiesMemberus-gaap:NondesignatedMember2022-01-012022-12-310001465885us-gaap:ShortMemberwmc:ToBeAnnouncedSecuritiesMemberus-gaap:NondesignatedMember2022-12-310001465885wmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMember2022-12-310001465885wmc:DerivativeInstrumentsExcludingInterestOnlyStripsAccountedForAsDerivativesAndLinkedTransactionsMember2022-12-310001465885wmc:DerivativeCounterpartiesMember2022-12-310001465885wmc:AgencyAndNonAgencyInterestOnlyStripsAccountedForAsDerivativesMember2021-12-310001465885wmc:DerivativeInstrumentsExcludingInterestOnlyStripsAccountedForAsDerivativesAndLinkedTransactionsMember2021-12-310001465885wmc:DerivativeCounterpartiesMember2021-12-310001465885wmc:WesternAssetManagementCompanyMember2022-01-012022-12-310001465885wmc:WesternAssetManagementCompanyMember2021-01-012021-12-310001465885wmc:WesternAssetManagementCompanyMember2020-01-012020-12-310001465885wmc:WesternAssetManagementCompanyMember2021-12-310001465885wmc:WesternAssetManagementCompanyMember2022-12-310001465885srt:MinimumMemberwmc:WesternAssetManagementCompanyMember2022-01-012022-12-310001465885us-gaap:CommonStockMember2022-06-280001465885us-gaap:CommonStockMember2022-07-110001465885us-gaap:RestrictedStockUnitsRSUMemberwmc:Scenario2Member2021-06-252021-06-250001465885us-gaap:RestrictedStockUnitsRSUMemberwmc:Scenario2Membersrt:DirectorMember2021-06-252021-06-250001465885us-gaap:RestrictedStockUnitsRSUMemberwmc:Scenario2Member2022-07-112022-07-110001465885us-gaap:RestrictedStockUnitsRSUMemberwmc:Scenario2Membersrt:DirectorMember2022-07-112022-07-110001465885us-gaap:RestrictedStockUnitsRSUMemberwmc:Scenario1Member2022-06-242022-06-240001465885us-gaap:RestrictedStockUnitsRSUMemberwmc:Scenario1Membersrt:DirectorMember2022-06-242022-06-240001465885us-gaap:RestrictedStockUnitsRSUMemberwmc:Scenario1Member2022-07-112022-07-110001465885us-gaap:RestrictedStockUnitsRSUMemberwmc:Scenario1Membersrt:DirectorMember2022-07-112022-07-110001465885us-gaap:RestrictedStockUnitsRSUMembersrt:ChiefFinancialOfficerMember2022-06-302022-06-300001465885us-gaap:RestrictedStockUnitsRSUMembersrt:ChiefFinancialOfficerMember2022-07-112022-07-110001465885us-gaap:RestrictedStockUnitsRSUMember2022-01-012022-12-310001465885us-gaap:RestrictedStockUnitsRSUMember2021-01-012021-12-310001465885us-gaap:RestrictedStockUnitsRSUMember2020-01-012020-12-310001465885wmc:EquityAwardsMember2022-12-310001465885wmc:EquityAwardsMember2021-12-310001465885us-gaap:ShareBasedCompensationAwardTrancheThreeMemberus-gaap:RestrictedStockUnitsRSUMember2022-12-310001465885us-gaap:ShareBasedCompensationAwardTrancheThreeMemberus-gaap:RestrictedStockUnitsRSUMember2021-12-310001465885wmc:SharebasedCompensationAwardTrancheFourMember2022-12-310001465885wmc:SharebasedCompensationAwardTrancheFourMember2021-12-310001465885wmc:ShareBasedPaymentArrangementTrancheFiveMember2022-12-310001465885wmc:ShareBasedPaymentArrangementTrancheFiveMember2021-12-310001465885wmc:ShareBasedPaymentArrangementTrancheSixMember2022-12-310001465885wmc:ShareBasedPaymentArrangementTrancheSixMember2021-12-310001465885us-gaap:RestrictedStockUnitsRSUMember2022-12-310001465885us-gaap:RestrictedStockUnitsRSUMember2021-12-310001465885us-gaap:RestrictedStockUnitsRSUMember2020-12-310001465885us-gaap:RestrictedStockUnitsRSUMemberwmc:DirectorDeferredFeePlanMember2022-01-012022-12-310001465885us-gaap:RestrictedStockUnitsRSUMemberwmc:DirectorDeferredFeePlanMember2021-01-012021-12-310001465885us-gaap:CommonStockMemberwmc:AtTheMarketOfferingMember2017-03-310001465885us-gaap:CommonStockMemberwmc:AtTheMarketOfferingMember2022-01-012022-12-310001465885us-gaap:CommonStockMemberwmc:AtTheMarketOfferingMember2021-01-012021-12-3100014658852022-12-212022-12-210001465885us-gaap:SubsequentEventMember2023-01-262023-01-2600014658852022-10-262022-10-2600014658852022-09-222022-09-2200014658852022-06-212022-06-2100014658852022-07-252022-07-2500014658852022-04-262022-04-2600014658852022-03-232022-03-2300014658852021-12-212021-12-2100014658852022-01-262022-01-2600014658852021-09-232021-09-2300014658852021-10-262021-10-2600014658852021-06-222021-06-2200014658852021-07-262021-07-2600014658852021-03-232021-03-2300014658852021-04-262021-04-260001465885wmc:TaxableREITSubsidiaryMember2022-12-310001465885wmc:TaxableREITSubsidiaryMember2021-12-310001465885us-gaap:StateAndLocalJurisdictionMember2022-12-310001465885us-gaap:StateAndLocalJurisdictionMember2021-12-310001465885us-gaap:StateAndLocalJurisdictionMemberwmc:TaxableREITSubsidiaryMember2022-12-310001465885us-gaap:StateAndLocalJurisdictionMemberwmc:TaxableREITSubsidiaryMember2021-12-310001465885wmc:OperatingLossCarryforwardsMember2022-12-310001465885wmc:OperatingLossCarryforwardsMember2021-12-310001465885us-gaap:AdjustableRateResidentialMortgageMembersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MortgageLoansUnder250000Member2022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMembersrt:MortgageLoansUnder250000Member2022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MortgageLoansUnder250000Member2022-01-012022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMembersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MortgageLoansUnder250000Member2022-01-012022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMembersrt:MortgageLoansUnder250000Member2022-01-012022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MortgageLoansUnder250000Member2022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMembersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MortgageLoansBetween250000And499999Member2022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMembersrt:MortgageLoansBetween250000And499999Member2022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MortgageLoansBetween250000And499999Member2022-01-012022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMembersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MortgageLoansBetween250000And499999Member2022-01-012022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMembersrt:MortgageLoansBetween250000And499999Member2022-01-012022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MortgageLoansBetween250000And499999Member2022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMembersrt:MinimumMembersrt:MortgageLoansBetween500000And749999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMembersrt:MortgageLoansBetween500000And749999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMember2022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMembersrt:MortgageLoansBetween500000And749999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-01-012022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMembersrt:MinimumMembersrt:MortgageLoansBetween500000And749999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-01-012022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMembersrt:MortgageLoansBetween500000And749999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMember2022-01-012022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMembersrt:MortgageLoansBetween500000And749999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-12-310001465885srt:MortgageLoansBetween750000And999999Memberus-gaap:AdjustableRateResidentialMortgageMembersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-12-310001465885srt:MortgageLoansBetween750000And999999Memberus-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMember2022-12-310001465885srt:MortgageLoansBetween750000And999999Memberus-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-01-012022-12-310001465885srt:MortgageLoansBetween750000And999999Memberus-gaap:AdjustableRateResidentialMortgageMembersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-01-012022-12-310001465885srt:MortgageLoansBetween750000And999999Memberus-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMember2022-01-012022-12-310001465885srt:MortgageLoansBetween750000And999999Memberus-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMembersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberwmc:MortgageLoansBetween1000000And1249999Member2022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMemberwmc:MortgageLoansBetween1000000And1249999Member2022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberwmc:MortgageLoansBetween1000000And1249999Member2022-01-012022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMembersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberwmc:MortgageLoansBetween1000000And1249999Member2022-01-012022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMemberwmc:MortgageLoansBetween1000000And1249999Member2022-01-012022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberwmc:MortgageLoansBetween1000000And1249999Member2022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:MortgageLoansBetween1250000And1499999Membersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:MortgageLoansBetween1250000And1499999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMember2022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:MortgageLoansBetween1250000And1499999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-01-012022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:MortgageLoansBetween1250000And1499999Membersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-01-012022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:MortgageLoansBetween1250000And1499999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMember2022-01-012022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:MortgageLoansBetween1250000And1499999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-12-310001465885wmc:MortgageLoansOver1500000Memberus-gaap:AdjustableRateResidentialMortgageMembersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-12-310001465885wmc:MortgageLoansOver1500000Memberus-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-01-012022-12-310001465885wmc:MortgageLoansOver1500000Memberus-gaap:AdjustableRateResidentialMortgageMembersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-01-012022-12-310001465885wmc:MortgageLoansOver1500000Memberus-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMember2022-01-012022-12-310001465885wmc:MortgageLoansOver1500000Memberus-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMember2022-12-310001465885srt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMembersrt:MortgageLoansUnder250000Member2022-12-310001465885wmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMemberus-gaap:FixedRateResidentialMortgageMembersrt:MortgageLoansUnder250000Member2022-12-310001465885wmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMembersrt:MortgageLoansUnder250000Member2022-01-012022-12-310001465885srt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMembersrt:MortgageLoansUnder250000Member2022-01-012022-12-310001465885wmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMemberus-gaap:FixedRateResidentialMortgageMembersrt:MortgageLoansUnder250000Member2022-01-012022-12-310001465885wmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMembersrt:MortgageLoansUnder250000Member2022-12-310001465885srt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMembersrt:MortgageLoansBetween250000And499999Member2022-12-310001465885wmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMemberus-gaap:FixedRateResidentialMortgageMembersrt:MortgageLoansBetween250000And499999Member2022-12-310001465885wmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMembersrt:MortgageLoansBetween250000And499999Member2022-01-012022-12-310001465885srt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMembersrt:MortgageLoansBetween250000And499999Member2022-01-012022-12-310001465885wmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMemberus-gaap:FixedRateResidentialMortgageMembersrt:MortgageLoansBetween250000And499999Member2022-01-012022-12-310001465885wmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMembersrt:MortgageLoansBetween250000And499999Member2022-12-310001465885srt:MinimumMembersrt:MortgageLoansBetween500000And749999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-12-310001465885srt:MortgageLoansBetween500000And749999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMemberus-gaap:FixedRateResidentialMortgageMember2022-12-310001465885srt:MortgageLoansBetween500000And749999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-01-012022-12-310001465885srt:MinimumMembersrt:MortgageLoansBetween500000And749999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-01-012022-12-310001465885srt:MortgageLoansBetween500000And749999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMemberus-gaap:FixedRateResidentialMortgageMember2022-01-012022-12-310001465885srt:MortgageLoansBetween500000And749999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-12-310001465885srt:MortgageLoansBetween750000And999999Membersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-12-310001465885srt:MortgageLoansBetween750000And999999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMemberus-gaap:FixedRateResidentialMortgageMember2022-12-310001465885srt:MortgageLoansBetween750000And999999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-01-012022-12-310001465885srt:MortgageLoansBetween750000And999999Membersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-01-012022-12-310001465885srt:MortgageLoansBetween750000And999999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMemberus-gaap:FixedRateResidentialMortgageMember2022-01-012022-12-310001465885srt:MortgageLoansBetween750000And999999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-12-310001465885srt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberwmc:MortgageLoansBetween1000000And1249999Memberus-gaap:FixedRateResidentialMortgageMember2022-12-310001465885wmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMemberwmc:MortgageLoansBetween1000000And1249999Memberus-gaap:FixedRateResidentialMortgageMember2022-12-310001465885wmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberwmc:MortgageLoansBetween1000000And1249999Memberus-gaap:FixedRateResidentialMortgageMember2022-01-012022-12-310001465885srt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberwmc:MortgageLoansBetween1000000And1249999Memberus-gaap:FixedRateResidentialMortgageMember2022-01-012022-12-310001465885wmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMemberwmc:MortgageLoansBetween1000000And1249999Memberus-gaap:FixedRateResidentialMortgageMember2022-01-012022-12-310001465885wmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberwmc:MortgageLoansBetween1000000And1249999Memberus-gaap:FixedRateResidentialMortgageMember2022-12-310001465885wmc:MortgageLoansBetween1250000And1499999Membersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-12-310001465885wmc:MortgageLoansBetween1250000And1499999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMemberus-gaap:FixedRateResidentialMortgageMember2022-12-310001465885wmc:MortgageLoansBetween1250000And1499999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-01-012022-12-310001465885wmc:MortgageLoansBetween1250000And1499999Membersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-01-012022-12-310001465885wmc:MortgageLoansBetween1250000And1499999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMemberus-gaap:FixedRateResidentialMortgageMember2022-01-012022-12-310001465885wmc:MortgageLoansBetween1250000And1499999Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-12-310001465885wmc:MortgageLoansOver1500000Membersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-12-310001465885wmc:MortgageLoansOver1500000Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-01-012022-12-310001465885wmc:MortgageLoansOver1500000Membersrt:MinimumMemberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-01-012022-12-310001465885wmc:MortgageLoansOver1500000Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMembersrt:MaximumMemberus-gaap:FixedRateResidentialMortgageMember2022-01-012022-12-310001465885wmc:MortgageLoansOver1500000Memberwmc:ResidentialWholeLoanAndResidentialBridgeLoanMemberus-gaap:FixedRateResidentialMortgageMember2022-12-310001465885srt:MinimumMemberus-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMembersrt:MortgageLoansUnder250000Member2022-12-310001465885srt:MaximumMemberus-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMembersrt:MortgageLoansUnder250000Member2022-12-310001465885us-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMembersrt:MortgageLoansUnder250000Member2022-01-012022-12-310001465885srt:MinimumMemberus-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMembersrt:MortgageLoansUnder250000Member2022-01-012022-12-310001465885srt:MaximumMemberus-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMembersrt:MortgageLoansUnder250000Member2022-01-012022-12-310001465885us-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMembersrt:MortgageLoansUnder250000Member2022-12-310001465885srt:MinimumMemberus-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMembersrt:MortgageLoansBetween250000And499999Member2022-12-310001465885srt:MaximumMemberus-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMembersrt:MortgageLoansBetween250000And499999Member2022-12-310001465885us-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMembersrt:MortgageLoansBetween250000And499999Member2022-01-012022-12-310001465885us-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMembersrt:MortgageLoansBetween250000And499999Member2022-12-310001465885srt:MortgageLoansBetween750000And999999Membersrt:MinimumMemberus-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMember2022-12-310001465885srt:MortgageLoansBetween750000And999999Membersrt:MaximumMemberus-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMember2022-12-310001465885srt:MortgageLoansBetween750000And999999Memberus-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMember2022-01-012022-12-310001465885srt:MortgageLoansBetween750000And999999Membersrt:MinimumMemberus-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMember2022-01-012022-12-310001465885srt:MortgageLoansBetween750000And999999Membersrt:MaximumMemberus-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMember2022-01-012022-12-310001465885srt:MortgageLoansBetween750000And999999Memberus-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMember2022-12-310001465885us-gaap:AdjustableRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMember2022-12-310001465885us-gaap:FixedRateResidentialMortgageMemberwmc:ResidentialBridgeLoansMember2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount32000000Member2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount32000000Memberwmc:SecuritizedCommercialLoanMember2022-01-012022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount32000000Memberus-gaap:LondonInterbankOfferedRateLIBORMember2022-01-012022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount32000000Memberwmc:SecuritizedCommercialLoanMember2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount90000000Member2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount90000000Memberus-gaap:CommercialLoanMember2022-01-012022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount90000000Memberus-gaap:LondonInterbankOfferedRateLIBORMember2022-01-012022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount90000000Memberus-gaap:CommercialLoanMember2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalBalanceAmount40000000Member2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalBalanceAmount40000000Memberus-gaap:CommercialLoanMember2022-01-012022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalBalanceAmount40000000Memberus-gaap:LondonInterbankOfferedRateLIBORMember2022-01-012022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalBalanceAmount40000000Memberus-gaap:CommercialLoanMember2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount13206521Member2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount13206521Memberus-gaap:CommercialLoanMember2022-01-012022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberus-gaap:LondonInterbankOfferedRateLIBORMemberwmc:OriginalLoanAmount13206521Member2022-01-012022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount13206521Memberus-gaap:CommercialLoanMember2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount24534783Member2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount24534783Memberus-gaap:CommercialLoanMember2022-01-012022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount24534783Memberus-gaap:LondonInterbankOfferedRateLIBORMember2022-01-012022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount24534783Memberus-gaap:CommercialLoanMember2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount7258696Member2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberus-gaap:CommercialLoanMemberwmc:OriginalLoanAmount7258696Member2022-01-012022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberus-gaap:LondonInterbankOfferedRateLIBORMemberwmc:OriginalLoanAmount7258696Member2022-01-012022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberus-gaap:CommercialLoanMemberwmc:OriginalLoanAmount7258696Member2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberus-gaap:CommercialLoanMember2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount1400000000Member2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount1400000000Memberwmc:SecuritizedCommercialLoanMember2022-01-012022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount1400000000Member2022-01-012022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:OriginalLoanAmount1400000000Memberwmc:SecuritizedCommercialLoanMember2022-12-310001465885wmc:CommercialMezzanineLoanHeldInSecuritizationTrustMemberwmc:SecuritizedCommercialLoanMember2022-12-31