v3.26.1
Residential Whole Loans - Narrative (Details)
$ in Thousands
3 Months Ended
Mar. 31, 2026
USD ($)
loan
Mar. 31, 2025
USD ($)
loan
Dec. 31, 2025
USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Residential whole loans [1],[2] $ 8,783,700   $ 8,810,354
Interest income $ 2,700    
Interest rate reduction (as a percent) 3.05% 3.05%  
Average increase in weighted average life   2 months  
Interest Rate Reduction      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Number of loan modifications during the past 12 months | loan 1    
Carrying value of loans past 12 months $ 110    
Term Extension      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Number of loan modifications during the past 12 months | loan   5  
Carrying value of loans past 12 months $ 500    
Term Extension | 120+ days deliquent      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Number of loan modifications during the past 12 months | loan 1    
Term Extension and Interest Rate Reduction      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Number of loan modifications during the past 12 months | loan   1  
Nonperforming      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Interest income $ 1,800    
Purchased Performing Loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivable, nonaccrual 584,800   579,900
Without associated credit losses      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivable, nonaccrual 25,000   25,700
Residential whole loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Residential whole loans 8,783,700   $ 8,810,354
Financing receivable, sale 78,900 $ 67,600  
Gain (loss) realized from sale 2,700 1,900  
Reversal of previously recognized unrealized gains or losses (1,200) (1,200)  
Gain (loss) from sale of loans $ 1,500 $ 700  
[1] Includes approximately $7.4 billion and $7.6 billion of Residential whole loans transferred to consolidated variable interest entities (“VIEs”) at March 31, 2026 and December 31, 2025, respectively. Such assets can be used only to settle the obligations of each respective VIE.
[2] See Note 6 for information regarding the Company’s pledged assets.