v3.26.1
Mortgage-Backed Securities - Collateral Characteristics (Details) - USD ($)
$ / shares in Units, $ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Debt Securities, Available-for-sale [Line Items]    
Principal or Notional Value $ 8,840,568 $ 7,693,236
Residential Mortgage-Backed Securities | Non-Agency RMBS - Senior    
Debt Securities, Available-for-sale [Line Items]    
Principal or Notional Value $ 827,607 $ 852,887
Weighted Average Amortized Cost Basis (in dollars per share) $ 41.90 $ 42.78
Weighted Average Fair Value (in dollars per share) $ 56.51 $ 59.21
Weighted Average Coupon 5.60% 5.70%
Weighted Average Yield at Period-End 21.30% 20.30%
Residential Mortgage-Backed Securities | Non-Agency RMBS - Subordinated    
Debt Securities, Available-for-sale [Line Items]    
Principal or Notional Value $ 394,670 $ 453,269
Weighted Average Amortized Cost Basis (in dollars per share) $ 45.39 $ 48.99
Weighted Average Fair Value (in dollars per share) $ 48.58 $ 51.47
Weighted Average Coupon 3.90% 4.20%
Weighted Average Yield at Period-End 9.20% 9.30%
Residential Mortgage-Backed Securities | Non-Agency RMBS - Interest-only    
Debt Securities, Available-for-sale [Line Items]    
Principal or Notional Value $ 2,327,935 $ 2,428,976
Weighted Average Amortized Cost Basis (in dollars per share) $ 6.11 $ 6.03
Weighted Average Fair Value (in dollars per share) $ 2.93 $ 3.25
Weighted Average Coupon 0.90% 0.80%
Weighted Average Yield at Period-End 3.80% 4.40%
Residential Mortgage-Backed Securities | Pass-through    
Debt Securities, Available-for-sale [Line Items]    
Principal or Notional Value $ 5,041,259 $ 3,096,299
Weighted Average Amortized Cost Basis (in dollars per share) $ 99.24 $ 97.79
Weighted Average Fair Value (in dollars per share) $ 99.47 $ 99.52
Weighted Average Coupon 5.30% 5.00%
Weighted Average Yield at Period-End 5.30% 5.30%
Residential Mortgage-Backed Securities | Agency RMBS - CMO    
Debt Securities, Available-for-sale [Line Items]    
Principal or Notional Value $ 231,192 $ 330,871
Weighted Average Amortized Cost Basis (in dollars per share) $ 99.93 $ 99.94
Weighted Average Fair Value (in dollars per share) $ 100.63 $ 100.31
Weighted Average Coupon 4.90% 5.10%
Weighted Average Yield at Period-End 4.90% 5.10%
Residential Mortgage-Backed Securities | Agency RMBS - Interest-only    
Debt Securities, Available-for-sale [Line Items]    
Principal or Notional Value   $ 367,866
Weighted Average Amortized Cost Basis (in dollars per share)   $ 5.07
Weighted Average Fair Value (in dollars per share)   $ 4.04
Weighted Average Coupon   0.60%
Weighted Average Yield at Period-End   6.50%
Commercial Mortgage Backed Securities | Agency CMBS - ACMBS bond    
Debt Securities, Available-for-sale [Line Items]    
Principal or Notional Value $ 17,905  
Weighted Average Amortized Cost Basis (in dollars per share) $ 97.74  
Weighted Average Fair Value (in dollars per share) $ 97.26  
Weighted Average Coupon 4.10%  
Weighted Average Yield at Period-End 4.40%  
Commercial Mortgage Backed Securities | Agency CMBS - Project loans    
Debt Securities, Available-for-sale [Line Items]    
Principal or Notional Value   $ 39,693
Weighted Average Amortized Cost Basis (in dollars per share)   $ 101.52
Weighted Average Fair Value (in dollars per share)   $ 81.98
Weighted Average Coupon   3.40%
Weighted Average Yield at Period-End   3.30%
Commercial Mortgage Backed Securities | Agency CMBS - Interest-only    
Debt Securities, Available-for-sale [Line Items]    
Principal or Notional Value   $ 123,375
Weighted Average Amortized Cost Basis (in dollars per share)   $ 2.67
Weighted Average Fair Value (in dollars per share)   $ 2.11
Weighted Average Coupon   0.70%
Weighted Average Yield at Period-End   13.00%