Fair Value of Financial Instruments - Schedule of Changes in the Company's Financial Instruments Classified as Level III (Details) - Fair Value, Measurements, Recurring - Level III - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
Jun. 30, 2026	Dec. 31, 2025
CML, HFS, measured at fair value - Non-Agency
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 29,500	$ 87,270
Transfers into Level III	0	0
Originations	329,500	411,650
Sales/paydowns	(203,654)	(487,529)
Consolidation of CMBS trust	0
Realized and unrealized gain/(loss) included in earnings	6,517	18,109
Transfers out of Level III	(157,413)	0
Ending balance	4,450	29,500
CML, HFS, measured at fair value - Agency
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	331,218	0
Transfers into Level III	0	422,011
Originations	1,047,344	3,225,586
Sales/paydowns	(1,131,170)	(3,316,379)
Consolidation of CMBS trust	0
Realized and unrealized gain/(loss) included in earnings	0	0
Transfers out of Level III	0	0
Ending balance	247,392	331,218
Forward sale commitments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	10,518	0
Transfers into Level III	0	4,268
Originations	15,157	32,961
Sales/paydowns	(15,326)	(26,711)
Consolidation of CMBS trust	0
Realized and unrealized gain/(loss) included in earnings	0	0
Transfers out of Level III	0	0
Ending balance	10,349	10,518
Forward sale commitments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	(5,413)	0
Transfers into Level III	0	0
Originations	(204)	(5,413)
Sales/paydowns	0	0
Consolidation of CMBS trust	0
Realized and unrealized gain/(loss) included in earnings	0	0
Transfers out of Level III	0	0
Ending balance	(5,617)	(5,413)
CML, at fair value
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0
Transfers into Level III	157,413
Originations	0
Sales/paydowns	0
Consolidation of CMBS trust	387,743
Realized and unrealized gain/(loss) included in earnings	(4,035)
Transfers out of Level III	0
Ending balance	$ 541,121	$ 0

Fair Value of Financial Instruments - Schedule of Changes in the Company's Financial Instruments Classified as Level III (Details) - Fair Value, Measurements, Recurring - Level III - USD ($)
$ in Thousands