v3.25.2
Financing Agreements - Pledged Collateral (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Non-agency MBS | Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 616,100 $ 506,600
Carrying value 467,500 394,900
Asset Pledged as Collateral with Right    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 10,519,165 10,170,472
Accrued interest 25,900 27,100
Asset Pledged as Collateral with Right | Securitized    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 7,132,606 6,913,710
Asset Pledged as Collateral with Right | Non-Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 333,557 740,260
Asset Pledged as Collateral with Right | Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 3,053,002 2,516,502
Asset Pledged as Collateral with Right | Residential whole loans    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 8,746,530 8,734,115
Asset Pledged as Collateral with Right | Residential whole loans | Securitized    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 7,090,711 6,886,776
Asset Pledged as Collateral with Right | Residential whole loans | Non-Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 333,557 740,260
Asset Pledged as Collateral with Right | Residential whole loans | Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 1,322,262 1,107,079
Asset Pledged as Collateral with Right | Securities, at fair value    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 1,687,438 1,352,918
Asset Pledged as Collateral with Right | Securities, at fair value | Securitized    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 0 0
Asset Pledged as Collateral with Right | Securities, at fair value | Non-Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 0 0
Asset Pledged as Collateral with Right | Securities, at fair value | Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 1,687,438 1,352,918
Asset Pledged as Collateral with Right | Other assets: REO    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 85,197 83,439
Asset Pledged as Collateral with Right | Other assets: REO | Securitized    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 41,895 26,934
Asset Pledged as Collateral with Right | Other assets: REO | Non-Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 0 0
Asset Pledged as Collateral with Right | Other assets: REO | Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 43,302 $ 56,505