v3.26.1
Financing Agreements - Pledged Collateral (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Non-agency MBS | Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 497,600 $ 600,000
Carrying value 396,000 466,900
Asset Pledged as Collateral with Right    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 12,130,730 11,961,120
Accrued interest 29,600 27,000
Asset Pledged as Collateral with Right | Securitized    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 7,465,762 7,658,024
Asset Pledged as Collateral with Right | Non-Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 84,099 115,326
Asset Pledged as Collateral with Right | Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 4,580,869 4,187,770
Asset Pledged as Collateral with Right | Residential whole loans    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 8,746,260 8,764,343
Asset Pledged as Collateral with Right | Residential whole loans | Securitized    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 7,410,840 7,605,654
Asset Pledged as Collateral with Right | Residential whole loans | Non-Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 84,099 115,326
Asset Pledged as Collateral with Right | Residential whole loans | Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 1,251,321 1,043,363
Asset Pledged as Collateral with Right | Securities, at fair value    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 3,288,239 3,107,405
Asset Pledged as Collateral with Right | Securities, at fair value | Securitized    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 0 0
Asset Pledged as Collateral with Right | Securities, at fair value | Non-Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 0 0
Asset Pledged as Collateral with Right | Securities, at fair value | Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 3,288,239 3,107,405
Asset Pledged as Collateral with Right | Other assets: REO    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 96,231 89,372
Asset Pledged as Collateral with Right | Other assets: REO | Securitized    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 54,922 52,370
Asset Pledged as Collateral with Right | Other assets: REO | Non-Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 0 0
Asset Pledged as Collateral with Right | Other assets: REO | Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 41,309 $ 37,002