Principal-Only Stripped Mortgage-Backed Securities - Activity in the Company's investment in principal-only stripped MBS (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Mortgage-backed securities | ||||
| Balance at beginning of period | $ 722,528 | |||
| Balance at end of period | $ 609,103 | 609,103 | ||
| Principal-Only-Strip MBS | ||||
| Mortgage-backed securities | ||||
| Balance at beginning of period | 659,235 | $ 817,596 | 722,528 | $ 825,865 |
| Repayments | (55,758) | (46,529) | (113,827) | (84,267) |
| Amortization of purchase discounts | 8,712 | 6,699 | 3,527 | 18,034 |
| Valuation adjustments | (3,086) | 7,192 | (3,125) | 25,326 |
| Total | (5,626) | (13,891) | (402) | (43,360) |
| Balance at end of period | $ 609,103 | $ 784,958 | $ 609,103 | $ 784,958 |