v3.26.1
Secured Financing Agreements - Schedule of Secured Financing Agreements (Details) - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Assets Sold under Agreements to Repurchase [Line Items]    
Secured financing agreements outstanding principal secured by: $ 7,725,542 $ 6,031,182
Repurchase Agreements    
Assets Sold under Agreements to Repurchase [Line Items]    
Secured financing agreements outstanding principal secured by: 7,734,609 6,038,336
Repurchase Agreements | Investment Portfolio Segment    
Assets Sold under Agreements to Repurchase [Line Items]    
Secured financing agreements outstanding principal secured by: 7,007,452 5,236,609
Average balance of Secured financing agreements secured by: 6,070,823 4,182,029
Repurchase Agreements | Asset Pledged as Collateral | Investment Portfolio Segment    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities pledged as collateral at fair value on Secured financing agreements: 8,066,723 6,461,612
Repurchase Agreements | Agency RMBS | Investment Portfolio Segment    
Assets Sold under Agreements to Repurchase [Line Items]    
Secured financing agreements outstanding principal secured by: 5,038,134 3,257,275
Average balance of Secured financing agreements secured by: $ 4,160,168 $ 1,830,021
Average borrowing rate of Secured financing agreements secured by: 3.78% 3.99%
Average remaining maturity of Secured financing agreements secured by: 24 days 26 days
Average original maturity of Secured financing agreements secured by: 47 days 48 days
Repurchase Agreements | Agency RMBS | Asset Pledged as Collateral | Investment Portfolio Segment    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities pledged as collateral at fair value on Secured financing agreements: $ 5,246,616 $ 3,412,955
Repurchase Agreements | Loans held for sale, at fair value | Investment Portfolio Segment    
Assets Sold under Agreements to Repurchase [Line Items]    
Secured financing agreements outstanding principal secured by: 274,931  
Average balance of Secured financing agreements secured by: $ 26,315  
Average borrowing rate of Secured financing agreements secured by: 5.06%  
Average remaining maturity of Secured financing agreements secured by: 28 days  
Average original maturity of Secured financing agreements secured by: 28 days  
Repurchase Agreements | Loans held for sale, at fair value | Residential Origination Segment    
Assets Sold under Agreements to Repurchase [Line Items]    
Secured financing agreements outstanding principal secured by: $ 727,158 801,727
Average balance of Secured financing agreements secured by: $ 721,929 $ 620,654
Average borrowing rate of Secured financing agreements secured by: 5.55% 5.84%
Average remaining maturity of Secured financing agreements secured by: 121 days 218 days
Average original maturity of Secured financing agreements secured by: 121 days 218 days
Repurchase Agreements | Loans held for sale, at fair value | Asset Pledged as Collateral | Investment Portfolio Segment    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities pledged as collateral at fair value on Secured financing agreements: $ 307,031  
Repurchase Agreements | Loans held for sale, at fair value | Asset Pledged as Collateral | Residential Origination Segment    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities pledged as collateral at fair value on Secured financing agreements: 815,413 $ 891,937
Repurchase Agreements | Non-agency MBS and Loans held for investment    
Assets Sold under Agreements to Repurchase [Line Items]    
Debt issuance costs, net 37 271
Repurchase Agreements | Non-agency MBS and Loans held for investment | Investment Portfolio Segment    
Assets Sold under Agreements to Repurchase [Line Items]    
Secured financing agreements outstanding principal secured by: 1,677,682 1,948,416
Average balance of Secured financing agreements secured by: $ 1,852,855 $ 2,321,499
Average borrowing rate of Secured financing agreements secured by: 6.33% 6.43%
Average remaining maturity of Secured financing agreements secured by: 210 days 278 days
Average original maturity of Secured financing agreements secured by: 230 days 299 days
Debt issuance costs, net   $ 271
Repurchase Agreements | Non-agency MBS and Loans held for investment | Asset Pledged as Collateral | Investment Portfolio Segment    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities pledged as collateral at fair value on Secured financing agreements: $ 2,495,662 3,020,818
Repurchase Agreements | Agency CMBS | Investment Portfolio Segment    
Assets Sold under Agreements to Repurchase [Line Items]    
Secured financing agreements outstanding principal secured by: 16,705 30,918
Average balance of Secured financing agreements secured by: $ 31,485 $ 30,509
Average borrowing rate of Secured financing agreements secured by: 3.76% 4.04%
Average remaining maturity of Secured financing agreements secured by: 15 days 8 days
Average original maturity of Secured financing agreements secured by: 29 days 35 days
Repurchase Agreements | Agency CMBS | Asset Pledged as Collateral | Investment Portfolio Segment    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities pledged as collateral at fair value on Secured financing agreements: $ 17,414 $ 27,839