v3.26.1
Residential Whole Loans - LTV on Loans (Details) - Residential whole loans
$ in Thousands
Mar. 31, 2026
USD ($)
Dec. 31, 2025
USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB $ 8,989,250 $ 8,989,910
Non-QM loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 5,523,570 5,322,321
Business purpose loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 2,339,084 2,510,608
Business purpose loans | Single-family rental loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 1,207,006 1,246,745
Business purpose loans | Single-family transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 673,850 732,059
Business purpose loans | Multifamily transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 458,228 531,804
Legacy RPL/NPL loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 1,067,717 1,097,698
Other loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 58,879 59,283
Financial Asset, Equal to or Greater than 60 Days Past Due    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value 613,031 571,976
UPB 702,911 639,649
Financial Asset, Equal to or Greater than 60 Days Past Due | Non-QM loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value 219,769 218,793
UPB $ 224,026 $ 222,327
LTV (as a percent) 0.65 0.64
Financial Asset, Equal to or Greater than 60 Days Past Due | Business purpose loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value $ 208,244 $ 155,672
UPB 275,624 203,071
Financial Asset, Equal to or Greater than 60 Days Past Due | Business purpose loans | Single-family rental loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value 30,163 29,967
UPB $ 31,728 $ 31,395
LTV (as a percent) 0.68 0.68
Financial Asset, Equal to or Greater than 60 Days Past Due | Business purpose loans | Single-family transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value $ 92,333 $ 70,821
UPB $ 106,403 $ 84,081
LTV (as a percent) 0.82 0.83
Financial Asset, Equal to or Greater than 60 Days Past Due | Business purpose loans | Multifamily transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value $ 85,748 $ 54,884
UPB $ 137,493 $ 87,595
LTV (as a percent) 1.26 0.68
Financial Asset, Equal to or Greater than 60 Days Past Due | Legacy RPL/NPL loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value $ 185,018 $ 197,511
UPB $ 203,261 $ 214,251
LTV (as a percent) 0.59 0.60
Financial Asset, Equal to or Greater than 60 Days Past Due | Other loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value $ 0 $ 0
UPB $ 0 $ 0
LTV (as a percent) 0 0