v3.25.2
Use of Special Purpose Entities and Variable Interest Entities - Schedule of Loan Securitization Transaction (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Variable Interest Entity [Line Items]          
Weighted average fixed rate for Senior Bonds issued 4.68%   4.68%   4.47%
Asset-backed Securities, Securitized Loans and Receivables          
Variable Interest Entity [Line Items]          
Aggregate unpaid principal balance of residential whole loans sold $ 10,548,125   $ 10,548,125   $ 9,924,643
Outstanding amount of Senior Bonds, at carrying value 529,714   529,714   583,597
Outstanding amount of Senior Bonds, at fair value 5,374,319   5,374,319   5,211,380
Outstanding amount of Senior Bonds, total $ 5,904,033   $ 5,904,033   $ 5,794,977
Weighted average fixed rate for Senior Bonds issued 5.11%   5.11%   5.02%
Weighted average contractual maturity of Senior Bonds     36 years   36 years
Cash received     $ 9,148,754   $ 8,574,069
Debt issuance cost $ 1,000   1,000   1,100
Asset-backed Securities, Securitized Loans and Receivables | Senior Notes          
Variable Interest Entity [Line Items]          
Debt instrument, face amount 9,229,705   9,229,705   8,655,017
Cash received 291,300 $ 160,000 574,700 $ 655,100  
Proceeds from Senior bond sold with Step up feature     $ 4,400,000   4,200,000
Asset-backed Securities, Securitized Loans and Receivables | Senior Notes | Variable Rate, Option 1          
Variable Interest Entity [Line Items]          
Debt instrument, basis spread on variable rate (in percent)     1.00%    
Asset-backed Securities, Securitized Loans and Receivables | Senior Notes | Variable Rate, Option 2          
Variable Interest Entity [Line Items]          
Debt instrument, basis spread on variable rate (in percent)     1.50%    
Asset-backed Securities, Securitized Loans and Receivables | Senior Notes | Variable Rate, Option 3          
Variable Interest Entity [Line Items]          
Debt instrument, basis spread on variable rate (in percent)     3.00%    
Asset-backed Securities, Securitized Loans and Receivables | Senior Notes | Minimum          
Variable Interest Entity [Line Items]          
Debt instrument, coupon step-up period     30 months    
Asset-backed Securities, Securitized Loans and Receivables | Senior Notes | Maximum          
Variable Interest Entity [Line Items]          
Debt instrument, coupon step-up period     48 months    
Asset-backed Securities, Securitized Loans and Receivables | Senior Support Certificates          
Variable Interest Entity [Line Items]          
Debt instrument, face amount $ 1,270,750   $ 1,270,750   $ 1,222,029