v3.25.4
Investments in RMBS, Unrealized Loss Positions (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Security
Dec. 31, 2024
USD ($)
Security
RMBS, Unrealized Loss Positions [Abstract]    
Carrying value $ 1,213,851 $ 1,122,420
RMBS [Member]    
RMBS, Unrealized Loss Positions [Abstract]    
Original face value 1,422,543 1,302,160
Book value 1,184,212 1,139,262
Gross unrealized losses (688) (22,338)
Carrying value [1] $ 1,213,851 $ 1,122,420
Number of securities | Security 107 95
Weighted average coupon 4.98% 4.80%
Weighted average yield [2] 5.08% 4.91%
Weighted average maturity 27 years 28 years
RMBS [Member] | Unrealized Loss Positions [Member]    
RMBS, Unrealized Loss Positions [Abstract]    
Original face value $ 64,386 $ 253,930
Book value 46,482 205,634
Gross unrealized losses (491) (7,644)
Carrying value [1] $ 45,991 $ 197,990
Number of securities | Security 4 18
Weighted average coupon 3.55% 4.35%
Weighted average yield [2] 3.75% 4.47%
Weighted average maturity 26 years 27 years
RMBS [Member] | Less than Twelve Months [Member] | Unrealized Loss Positions [Member]    
RMBS, Unrealized Loss Positions [Abstract]    
Original face value   $ 174,646
Book value   142,337
Gross unrealized losses   (2,993)
Carrying value [1],[3]   $ 139,344
Number of securities | Security   13
Weighted average coupon   4.76%
Weighted average yield [2]   4.86%
Weighted average maturity   27 years
RMBS [Member] | Twelve or More Months [Member] | Unrealized Loss Positions [Member]    
RMBS, Unrealized Loss Positions [Abstract]    
Original face value $ 64,386 $ 79,284
Book value 46,482 63,297
Gross unrealized losses (491) (4,651)
Carrying value [1],[3] $ 45,991 $ 58,646
Number of securities | Security 4 5
Weighted average coupon 3.55% 3.44%
Weighted average yield [2] 3.75% 3.59%
Weighted average maturity 26 years 27 years
[1] See Note 9 regarding the estimation of fair value, which approximates carrying value for all securities.
[2] The weighted average yield is based on the most recent gross monthly interest income, which is then annualized and divided by the book value of settled securities.
[3] The Company used an implied AA+ rating for the Agency RMBS.