v3.26.1
Segment Reporting - Summary (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Segment Reporting Information [Line Items]      
Interest Income $ 191,926 $ 180,505  
Interest Expense 132,736 122,968  
Net Interest Income 59,190 57,537  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 242 (145)  
Reversal/(Provision) for Credit Losses on Other Assets 0 0  
Net Interest Income/(Expense) after Reversal/(Provision) for Credit Losses 59,432 57,392  
Net gain/(loss) on residential whole loans measured at fair value through earnings (34,761) 54,380  
Impairment and other net gain/(loss) on securities and other portfolio investments (38,270) 21,179  
Net gain/(loss) on real estate owned (2,981) (1,508)  
Net gain/(loss) on derivatives used for risk management purposes 30,726 (31,055)  
Net gain/(loss) on securitized debt measured at fair value through earnings 19,845 (21,931)  
Lima One mortgage banking income 7,660 5,437  
Net realized gain/(loss) on residential whole loans held at carrying value 0 (539)  
Other, net 1,896 (1,451)  
Other Income/(Loss), net (15,885) 24,512  
Compensation and benefits 22,159 23,257  
Other general and administrative expense 12,154 10,291  
Loan servicing, financing and other related costs 9,918 7,252  
Amortization of intangible assets 300 800  
Income/(loss) before income taxes (984) 40,304  
Provision for/(benefit from) income taxes 0 (872)  
Net Income/(Loss) (984) 41,176  
Less Preferred Stock Dividend Requirement 10,424 8,219  
Net Income/(Loss) Available to Common Stock and Participating Securities (11,408) 32,957  
Total Assets 13,229,571   $ 13,046,449
Operating Segments | Mortgage-Related Assets      
Segment Reporting Information [Line Items]      
Interest Income 148,188 112,767  
Interest Expense 101,262 77,361  
Net Interest Income 46,926 35,406  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 242 (145)  
Reversal/(Provision) for Credit Losses on Other Assets 0 0  
Net Interest Income/(Expense) after Reversal/(Provision) for Credit Losses 47,168 35,261  
Net gain/(loss) on residential whole loans measured at fair value through earnings (24,237) 48,663  
Impairment and other net gain/(loss) on securities and other portfolio investments (38,688) 20,435  
Net gain/(loss) on real estate owned 383 69  
Net gain/(loss) on derivatives used for risk management purposes 28,064 (25,562)  
Net gain/(loss) on securitized debt measured at fair value through earnings 16,134 (17,149)  
Lima One mortgage banking income 0 0  
Net realized gain/(loss) on residential whole loans held at carrying value 0 (539)  
Other, net 929 (745)  
Other Income/(Loss), net (17,415) 25,172  
Compensation and benefits 0 0  
Other general and administrative expense 0 8  
Loan servicing, financing and other related costs 3,609 4,243  
Amortization of intangible assets 0 0  
Income/(loss) before income taxes 26,144 56,182  
Provision for/(benefit from) income taxes 0 0  
Net Income/(Loss) 26,144 56,182  
Less Preferred Stock Dividend Requirement 0 0  
Net Income/(Loss) Available to Common Stock and Participating Securities 26,144 56,182  
Total Assets 10,507,268   10,128,088
Operating Segments | Lima One      
Segment Reporting Information [Line Items]      
Interest Income 42,137 65,272  
Interest Expense 26,906 41,070  
Net Interest Income 15,231 24,202  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 0 0  
Reversal/(Provision) for Credit Losses on Other Assets 0 0  
Net Interest Income/(Expense) after Reversal/(Provision) for Credit Losses 15,231 24,202  
Net gain/(loss) on residential whole loans measured at fair value through earnings (10,524) 5,717  
Impairment and other net gain/(loss) on securities and other portfolio investments 13 (9)  
Net gain/(loss) on real estate owned (3,364) (1,577)  
Net gain/(loss) on derivatives used for risk management purposes 2,662 (5,493)  
Net gain/(loss) on securitized debt measured at fair value through earnings 3,711 (4,782)  
Lima One mortgage banking income 7,660 5,437  
Net realized gain/(loss) on residential whole loans held at carrying value 0 0  
Other, net (2,901) (1,996)  
Other Income/(Loss), net (2,743) (2,703)  
Compensation and benefits 8,882 9,793  
Other general and administrative expense 4,313 4,376  
Loan servicing, financing and other related costs 2,354 1,148  
Amortization of intangible assets 300 800  
Income/(loss) before income taxes (3,361) 5,382  
Provision for/(benefit from) income taxes 0 0  
Net Income/(Loss) (3,361) 5,382  
Less Preferred Stock Dividend Requirement 0 0  
Net Income/(Loss) Available to Common Stock and Participating Securities (3,361) 5,382  
Total Assets 2,469,863   2,632,740
Corporate      
Segment Reporting Information [Line Items]      
Interest Income 1,601 2,466  
Interest Expense 4,568 4,537  
Net Interest Income (2,967) (2,071)  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 0 0  
Reversal/(Provision) for Credit Losses on Other Assets 0 0  
Net Interest Income/(Expense) after Reversal/(Provision) for Credit Losses (2,967) (2,071)  
Net gain/(loss) on residential whole loans measured at fair value through earnings 0 0  
Impairment and other net gain/(loss) on securities and other portfolio investments 405 753  
Net gain/(loss) on real estate owned 0 0  
Net gain/(loss) on derivatives used for risk management purposes 0 0  
Net gain/(loss) on securitized debt measured at fair value through earnings 0 0  
Lima One mortgage banking income 0 0  
Net realized gain/(loss) on residential whole loans held at carrying value 0 0  
Other, net 3,868 1,290  
Other Income/(Loss), net 4,273 2,043  
Compensation and benefits 13,277 13,464  
Other general and administrative expense 7,841 5,907  
Loan servicing, financing and other related costs 3,955 1,861  
Amortization of intangible assets 0 0  
Income/(loss) before income taxes (23,767) (21,260)  
Provision for/(benefit from) income taxes 0 (872)  
Net Income/(Loss) (23,767) (20,388)  
Less Preferred Stock Dividend Requirement 10,424 8,219  
Net Income/(Loss) Available to Common Stock and Participating Securities (34,191) $ (28,607)  
Total Assets $ 252,440   $ 285,621