v3.25.2
Investment Securities - Schedule of Investments in RMBS and CMBS at Fair Value (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Real Estate Securities at Fair Value $ 361,884 $ 300,243
Securities Sold Under Agreements to Repurchase (68,062) (50,555)
Due to broker 254,228 201,994
Mezzanine    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Securities Sold Under Agreements to Repurchase (11,172) (5,440)
Subordinate    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Securities Sold Under Agreements to Repurchase (25,874) (19,829)
Interest Only/Excess    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Securities Sold Under Agreements to Repurchase 0 0
Retained RMBS in VIEs | VIE - Primary Beneficiary    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Securities Sold Under Agreements to Repurchase (31,016) (25,286)
Retained RMBS in VIEs | VIE - Primary Beneficiary | Eliminations    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Securities Sold Under Agreements to Repurchase 178,300 163,900
Total AOMT RMBS    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Securities Sold Under Agreements to Repurchase (68,062) (50,555)
Fannie Mae    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Securities Sold Under Agreements to Repurchase 0 0
Freddie Mac    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Securities Sold Under Agreements to Repurchase 0 0
Total Whole Pool Agency RMBS    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Securities Sold Under Agreements to Repurchase 0 0
Total RMBS    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Securities Sold Under Agreements to Repurchase (68,062) (50,555)
Mezzanine    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Real Estate Securities at Fair Value 12,831 12,735
Allocated Capital 1,659 7,295
Subordinate    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Real Estate Securities at Fair Value 80,509 73,548
Allocated Capital 54,636 53,719
Interest Only/Excess    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Real Estate Securities at Fair Value 10,992 12,508
Allocated Capital 10,992 12,508
Retained RMBS in VIEs | VIE - Primary Beneficiary    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Real Estate Securities at Fair Value 0 0
Allocated Capital (31,016) (25,286)
Total AOMT RMBS    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Real Estate Securities at Fair Value 104,332 98,791
Allocated Capital 36,270 48,236
Fannie Mae    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Real Estate Securities at Fair Value 17,957 161,878
Allocated Capital 17,957 161,878
Freddie Mac    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Real Estate Securities at Fair Value 239,595 39,574
Allocated Capital 239,595 39,574
Total Whole Pool Agency RMBS    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Real Estate Securities at Fair Value 257,552 201,452
Allocated Capital 257,552 201,452
Total RMBS    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Real Estate Securities at Fair Value 361,884 300,243
Allocated Capital $ 293,822 $ 249,688