v3.26.1
Fair Value - Unpaid Principal Balance of Financial Assets and Liabilities, Fair Value Option (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Fair Value Disclosures [Abstract]    
Loans held for investment, subject to HMBS related obligations, Fair Value $ 19,321,265 $ 19,135,403
Loans held for investment, subject to HMBS related obligations 18,056,054 17,983,144
Loans held for investment, subject to nonrecourse debt, at fair value 10,769,209 10,026,177
Total loans held for investment, subject to nonrecourse debt 10,284,554 9,567,732
Loans held for investment, at fair value 454,245 870,081
Loans held for investment, UBP 421,049 790,342
Loans held for sale, Fair Value 85,587 37,461
Loans held for sale, UBP 79,664 34,515
HMBS related obligations, Fair Value 19,087,650 18,912,226
HMBS related obligations, UBP 18,056,054 17,983,144
Nonrecourse debt, Fair Value 10,450,834 9,736,493
Nonrecourse debt, UPB 10,728,087 9,960,524
Convertible notes, Fair Value 36,889 53,800
Convertible notes, UPB 40,000 40,000
Total loans 90 days or more past due and on non-accrual status, Fair Value 5,200 6,100
Total loans 90 days or more past due and on non-accrual status, UPB $ 6,000 $ 7,000