v3.26.1
Residential Whole Loans - Vintage Information Regarding Residential Whole Loans (Details) - Residential whole loans - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Non-QM loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total $ 5,531,388 $ 5,346,693
Business purpose loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total 2,261,932 2,443,328
Business purpose loans | Single-family rental loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total 1,196,609 1,235,346
Business purpose loans | Single-family transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total 658,713 718,345
Business purpose loans | Multifamily transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total 406,610 489,637
Legacy RPL/NPL loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total 949,434 979,016
Other loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total 50,383 51,022
Estimated Fair Value    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
2026 397,812  
2025 2,089,771  
2024 1,096,448  
2023 943,544  
2022 1,127,692  
Prior 2,084,547  
Total 7,739,814  
Estimated Fair Value | Non-QM loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
2026 276,125  
2025 1,748,183  
2024 859,328  
2023 494,540  
2022 501,547  
Prior 1,092,097  
Total 4,971,820 4,753,480
Estimated Fair Value | Business purpose loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total 2,173,335 2,348,165
Estimated Fair Value | Business purpose loans | Single-family rental loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
2026 60,283  
2025 2,467  
2024 38,899  
2023 208,025  
2022 477,377  
Prior 328,005  
Total 1,115,056 1,147,234
Estimated Fair Value | Business purpose loans | Single-family transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
2026 61,404  
2025 339,121  
2024 147,913  
2023 86,221  
2022 13,704  
Prior 3,306  
Total 651,669 711,294
Estimated Fair Value | Business purpose loans | Multifamily transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
2026 0  
2025 0  
2024 50,308  
2023 154,758  
2022 135,064  
Prior 66,480  
Total 406,610 489,637
Estimated Fair Value | Legacy RPL/NPL loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
2026 0  
2025 0  
2024 0  
2023 0  
2022 0  
Prior 544,276  
Total 544,276 564,340
Estimated Fair Value | Other loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
2026 0  
2025 0  
2024 0  
2023 0  
2022 0  
Prior 50,383  
Total $ 50,383 $ 51,022