v3.26.1
Fair Value - Significant Unobservable Inputs (Details)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2026
USD ($)
Dec. 31, 2025
USD ($)
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities $ 86,717 $ 88,283
Woodstar Fund investments 1,729,433 1,727,499
Domestic servicing rights 27,743 28,280
VIE assets 32,399,812 34,493,164
VIE liabilities 30,768,059 32,803,806
RMBS    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities 86,717 88,283
CMBS    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities 38,764 32,522
Domestic servicing rights    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Domestic servicing rights 27,743 28,280
Level III    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option 2,311,351  
Woodstar Fund investments 1,729,433 1,727,499
VIE assets 32,399,812 34,493,164
VIE liabilities $ 3,759,883 $ 3,831,053
Level III | Direct capitalization rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.0499  
Level III | Implied capitalization rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input   0.0499
Level III | Minimum    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option, duration 2 years 2 years 3 months 18 days
VIE assets duration 0 years 0 years
VIE liabilities duration 0 years 0 years
Level III | Minimum | Debt yield    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option 0.028 0.028
VIE assets 0 0
VIE liabilities 0 0
Level III | Minimum | FICO score    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option 585 585
Level III | Minimum | LTV    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option 0.02 0.01
Level III | Minimum | Purchase price    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option 0.800 0.800
Level III | Minimum | Discount rate - properties    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input   0.070
Level III | Minimum | Discount rate - debt    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.032 0.032
Level III | Minimum | Terminal capitalization rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input   0.050
Level III | Maximum    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option, duration 36 years 3 months 18 days 36 years 6 months
VIE assets duration 9 years 8 months 12 days 8 years
VIE liabilities duration 9 years 8 months 12 days 8 years
Level III | Maximum | Debt yield    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option 0.108 0.108
VIE assets 6.494 4.201
VIE liabilities 6.494 4.201
Level III | Maximum | FICO score    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option 829 829
Level III | Maximum | LTV    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option 1 1
Level III | Maximum | Purchase price    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option 1.068 1.068
Level III | Maximum | Discount rate - properties    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input   0.078
Level III | Maximum | Discount rate - debt    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.059 0.056
Level III | Maximum | Terminal capitalization rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input   0.058
Level III | Weighted-average    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option, duration 24 years 9 months 18 days 25 years 6 months
VIE assets duration 3 years 4 months 24 days 3 years 3 months 18 days
VIE liabilities duration 3 years 2 years 10 months 24 days
Level III | Weighted-average | Debt yield    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option 0.045 0.045
VIE assets 0.176 0.221
VIE liabilities 0.106 0.121
Level III | Weighted-average | FICO score    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option 750 750
Level III | Weighted-average | LTV    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option 0.63 0.63
Level III | Weighted-average | Purchase price    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Loans under fair value option 1.013 1.013
Level III | Weighted-average | Discount rate - properties    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input   0.075
Level III | Weighted-average | Discount rate - debt    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.051 0.049
Level III | Weighted-average | Terminal capitalization rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input   0.055
Level III | Weighted-average | Direct capitalization rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.0499  
Level III | Weighted-average | Implied capitalization rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input   0.0499
Level III | RMBS    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities $ 86,717 $ 88,283
Level III | RMBS | Minimum | Constant prepayment rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.022 0.022
Level III | RMBS | Minimum | Constant default rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.008 0.007
Level III | RMBS | Minimum | Loss severity    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0 0
Level III | RMBS | Minimum | Delinquency rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.07 0.07
Level III | RMBS | Minimum | Servicer advances    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.27 0.31
Level III | RMBS | Maximum | Constant prepayment rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.107 0.110
Level III | RMBS | Maximum | Constant default rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.124 0.075
Level III | RMBS | Maximum | Loss severity    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 1.34 0.81
Level III | RMBS | Maximum | Delinquency rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.24 0.24
Level III | RMBS | Maximum | Servicer advances    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.71 0.70
Level III | RMBS | Weighted-average | Constant prepayment rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.046 0.046
Level III | RMBS | Weighted-average | Constant default rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.015 0.015
Level III | RMBS | Weighted-average | Loss severity    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.11 0.10
Level III | RMBS | Weighted-average | Delinquency rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.13 0.13
Level III | RMBS | Weighted-average | Servicer advances    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.49 0.49
Level III | CMBS    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities $ 32,237 $ 28,197
Level III | CMBS | Minimum    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
CMBS, term 0 years 0 years
Level III | CMBS | Minimum | Debt yield    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0 0
Level III | CMBS | Maximum    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
CMBS, term 6 years 2 months 12 days 6 years 8 months 12 days
Level III | CMBS | Maximum | Debt yield    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.899 0.639
Level III | CMBS | Weighted-average    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
CMBS, term 1 year 3 months 18 days 1 year 3 months 18 days
Level III | CMBS | Weighted-average | Debt yield    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Available-for-sale securities, measurement input 0.250 0.107
Level III | Domestic servicing rights    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Domestic servicing rights $ 27,743 $ 28,280
Level III | Domestic servicing rights | Debt yield    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Domestic servicing rights 0.0900 0.0900
Level III | Domestic servicing rights | Discount rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Domestic servicing rights 0.15 0.15
Level III | Domestic servicing rights | Weighted-average | Debt yield    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Domestic servicing rights 0.0900 0.0900
Level III | Domestic servicing rights | Weighted-average | Discount rate    
Quantitative information for Level 3 Fair Value Measurements for assets and liabilities measured at fair value on recurring basis    
Domestic servicing rights 0.15 0.15