v3.26.1
Mortgage-Backed Securities - Schedule of Investment Portfolio (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Debt Securities, Available-for-sale [Line Items]    
Principal/ Notional Balance $ 7,354,216 $ 6,606,785
Unamortized Premium (Discount) (461,639) (464,118)
Amortized Cost 6,892,577 6,142,667
Unrealized Gain/ (Loss), net 57,332 133,942
Fair Value $ 6,949,909 $ 6,276,609
Period-end Weighted Average Yield 5.29% 5.37%
30 year fixed-rate pass-through    
Debt Securities, Available-for-sale [Line Items]    
Principal/ Notional Balance $ 5,981,029 $ 5,223,764
Unamortized Premium (Discount) (49,466) (33,396)
Amortized Cost 5,931,563 5,190,368
Unrealized Gain/ (Loss), net 52,066 118,792
Fair Value $ 5,983,629 $ 5,309,160
Period-end Weighted Average Yield 5.36% 5.46%
Agency CMO    
Debt Securities, Available-for-sale [Line Items]    
Principal/ Notional Balance $ 463,522 $ 484,974
Unamortized Premium (Discount) (406,504) (424,405)
Amortized Cost 57,018 60,569
Unrealized Gain/ (Loss), net 7,368 8,751
Fair Value $ 64,386 $ 69,320
Period-end Weighted Average Yield 8.83% 9.18%
Agency CMBS    
Debt Securities, Available-for-sale [Line Items]    
Principal/ Notional Balance $ 909,665 $ 898,047
Unamortized Premium (Discount) (5,669) (6,317)
Amortized Cost 903,996 891,730
Unrealized Gain/ (Loss), net (2,102) 6,399
Fair Value $ 901,894 $ 898,129
Period-end Weighted Average Yield 4.62% 4.62%