| Investment in Debt and Equity Securities and Other Trading Assets [Text Block] |
NOTE 2. MORTGAGE-BACKED SECURITIES, AT FAIR VALUE
The following table presents the Company’s RMBS portfolio that are remeasured at fair value through earnings as of June 30, 2026 and December 31, 2025:
| (in thousands) | | | | | | | | | | | | | | | | | | | | | | | | |
| | | June 30, 2026 | | | December 31, 2025 | |
| | | Par Value | | | Cost(1) | | | Fair Value | | | Par Value | | | Cost(1) | | | Fair Value | |
| Fixed-rate RMBS | | $ | 11,396,946 | | | $ | 11,602,269 | | | $ | 11,528,198 | | | $ | 10,345,029 | | | $ | 10,558,236 | | | $ | 10,615,570 | |
| Other(2)(3)(4) | | | - | | | | 14,963 | | | | 11,966 | | | | | | | | 16,103 | | | | 13,088 | |
| Total | | $ | 11,396,946 | | | $ | 11,617,232 | | | $ | 11,540,164 | | | $ | 10,345,029 | | | $ | 10,574,339 | | | $ | 10,628,658 | |
| (1) | The cost information in the table above represents the aggregate current par value, multiplied by the purchase price of each security in the portfolio. |
| (2) | Other securities are comprised of interest-only and inverse interest-only securities. |
| (3) | The notional balance for the interest-only securities portfolio was $68.5 million and $72.9 million as of June 30, 2026 and December 31, 2025, respectively. |
| (4) | The notional balance for the inverse interest-only securities portfolio was $14.1 million and $17.7 million as of June 30, 2026 and December 31, 2025, respectively. |
The following table is a summary of the Company’s net gain (loss) from the sale of RMBS for the six months ended June 30, 2026 and 2025.
| (in thousands) | | | | | | | | |
| | | Six Months Ended June 30, | |
| | | 2026 | | | 2025 | |
| Proceeds from sales of RMBS | | $ | 356,475 | | | $ | 733,904 | |
| Carrying value of RMBS sold | | | (355,551 | ) | | | (743,192 | ) |
| Net gain (loss) on sales of RMBS | | $ | 924 | | | $ | (9,288 | ) |
| | | | | | | | | |
| Gross gain on sales of RMBS | | $ | 924 | | | $ | - | |
| Gross loss on sales of RMBS | | | - | | | | (9,288 | ) |
| Net gain (loss) on sales of RMBS | | $ | 924 | | | $ | (9,288 | ) |
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