Consolidated Securitization Vehicles and Other Variable Interest Entities - Assets and Liabilities Related to the Consolidated VIEs (Details) - USD ($) $ in Thousands |
Jun. 30, 2026 |
Mar. 31, 2026 |
Dec. 31, 2025 |
Jun. 30, 2025 |
Mar. 31, 2025 |
Dec. 31, 2024 |
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| Assets: | ||||||||
| Non-Agency RMBS, at fair value | $ 727,621 | $ 817,280 | ||||||
| Loans held for investment, at fair value | 7,890,790 | 9,803,615 | ||||||
| Accrued interest receivable | 76,416 | 78,691 | ||||||
| Other assets | 430,042 | 408,291 | ||||||
| Interests in MSR financing receivables | 35,471 | 37,294 | $ 0 | |||||
| Total assets | [1] | 16,045,048 | 15,808,542 | |||||
| Liabilities: | ||||||||
| Securitized debt, collateralized by Non-Agency RMBS | 63,939 | 66,579 | ||||||
| Securitized debt at fair value, collateralized by Loans held for investment | 5,408,277 | 6,721,302 | ||||||
| Accrued interest payable | 41,621 | 43,032 | ||||||
| Other liabilities | 95,519 | 82,308 | ||||||
| Total liabilities | [1] | 13,629,422 | 13,235,848 | |||||
| Allowance for credit losses | 53,260 | $ 46,067 | 43,243 | $ 36,194 | $ 31,785 | $ 28,397 | ||
| Variable Interest Entities, Primary Beneficiary | ||||||||
| Assets: | ||||||||
| Non-Agency RMBS, at fair value | 195,388 | 210,185 | ||||||
| Loans held for investment, at fair value | 7,216,944 | 8,921,357 | ||||||
| Accrued interest receivable | 37,883 | 44,455 | ||||||
| Other assets | 27,446 | 22,451 | ||||||
| Interests in MSR financing receivables | 14,282 | 16,895 | ||||||
| Total assets | 7,491,943 | 9,215,343 | ||||||
| Liabilities: | ||||||||
| Securitized debt, collateralized by Non-Agency RMBS | 63,939 | 66,579 | ||||||
| Securitized debt at fair value, collateralized by Loans held for investment | 5,220,123 | 6,442,871 | ||||||
| Accrued interest payable | 17,513 | 22,887 | ||||||
| Other liabilities | 1,131 | 1,554 | ||||||
| Total liabilities | 5,302,706 | 6,533,891 | ||||||
| Allowance for credit losses | $ 22,000 | $ 17,000 | ||||||
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- Definition This item represents securitized loans on residential real estate, which are categorized as held for investment and carried at fair value. No definition available.
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- Definition Fair value as of the reporting date of investments in securitizations of residential mortgages from issuers other than US government agencies and US government sponsored enterprises. No definition available.
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- Definition Secured financing obligations carried at fair value as of the reporting date consisting of securitizations that are collateralized by residential adjustable or fixed rate mortgage loans that have been placed in a trust and pay interest and principal to the debt holders of that securitization. No definition available.
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- Definition Secured financing obligations as of the reporting date consisting of securitizations that are collateralized by Non-Agency residential adjustable or fixed rate mortgage loans that have been placed in a trust and pay interest and principal to the debt holders of the securitization. No definition available.
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- Definition Amount of asset recognized for present right to economic benefit. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount excluding accrued interest, of allowance for credit loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest payable on debt, including, but not limited to, trade payables. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Carrying amount as of the balance sheet date of interest earned but not received. Also called accrued interest or accrued interest receivable. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition Amount of assets classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of liabilities classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Fair value of an asset representing net future revenue from contractually specified servicing fees, late charges, and other ancillary revenues, in excess of future costs related to servicing arrangements. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Details
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