v3.26.1
Fair Value of Financial Instruments - Schedule of Financial Instruments Not Measured at Fair Value (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Mortgage servicing rights, net $ 211,854 $ 212,216 $ 0
Allowance for credit loss [1] 49,173 38,302  
Carrying Amount      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Allowance for credit loss 49,200 38,300  
Carrying Amount | Level III      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Commercial mortgage loans, held for investment 4,596,001 4,421,436  
Mortgage note payable 23,998 23,998  
Other financings 12,865 12,865  
Unsecured debt 185,693 185,466  
Mortgage servicing rights, net 211,854 212,216  
Carrying Amount | Level I      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Pledged investment securities 21,958 20,483  
Carrying Amount | Level II      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Collateralized loan obligations 2,637,338 2,735,582  
Fair Value | Level III      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Commercial mortgage loans, held for investment 4,578,458 4,411,871  
Mortgage note payable 23,998 23,998  
Other financings 12,865 12,865  
Unsecured debt 171,500 178,900  
Mortgage servicing rights, net 231,045 213,572  
Fair Value | Level I      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Pledged investment securities 22,619 21,175  
Fair Value | Level II      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Collateralized loan obligations $ 2,654,143 $ 2,757,931  
[1] Includes pledged assets of $409.4 million and $329.2 million as of March 31, 2026 and December 31, 2025, respectively.