v3.26.1
Net Interest Expense (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest income:        
Interest income $ 242,452 $ 221,929 $ 450,631 $ 411,800
Interest expense:        
Interest expense 270,710 239,577 520,432 447,659
Net interest expense (28,258) (17,648) (69,801) (35,859)
Nonrelated Party        
Interest income:        
Cash and short-term investments 10,993 10,919 20,562 20,926
Principal-only stripped mortgage-backed securities 8,905 6,948 3,929 18,543
Loans held for sale 120,822 105,725 234,004 193,119
Placement fees relating to custodial funds 101,258 97,975 191,197 177,770
Other 474 362 939 1,442
Interest expense:        
Assets sold under agreements to repurchase 132,070 112,685 242,088 206,914
Mortgage loan participation purchase and sale agreements 3,847 4,168 8,041 7,972
Notes payable secured by mortgage servicing assets 24,566 35,743 46,955 72,321
Unsecured senior notes 83,325 70,157 166,604 130,294
Interest shortfall on repayments of mortgage loans serviced for Agency securitizations 23,364 14,058 49,495 23,832
Interest on mortgage loan impound deposits 2,686 2,263 5,423 4,844
Other 852 503 1,826 1,482
Interest expense 270,710 239,577 520,432 447,659
Loan Repo Facility        
Interest expense:        
Assets sold under agreements to repurchase $ 132,070 $ 112,685 $ 242,088 $ 206,914