v3.26.1
Fair Value of Financial Instruments - Schedule of Carrying Values and Fair Values of Assets and Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Carrying Value | Level 1    
Assets    
Cash and cash equivalents $ 191,846 $ 255,664
Restricted cash 99,465 193,446
Liabilities    
Convertible notes, net 294,369 292,993
Carrying Value | Level 2    
Liabilities    
Debt obligation facilities and other financing 4,079,669 4,045,578
Carrying Value | Level 3    
Assets    
Residential investor loans held-for-sale 13,863 14,414
Liabilities    
ABS issued, net 0 58,431
Trust preferred securities and subordinated notes, net 138,929 138,906
Guarantee obligations 3,689 1,267
Carrying Value | Senior Notes | Level 1    
Liabilities    
Senior Notes 443,607 321,905
Estimated Fair Value | Level 1    
Assets    
Cash and cash equivalents 191,846 255,664
Restricted cash 99,465 193,446
Liabilities    
Convertible notes, net 300,439 299,045
Estimated Fair Value | Level 2    
Liabilities    
Debt obligation facilities and other financing 4,080,151 4,046,266
Estimated Fair Value | Level 3    
Assets    
Residential investor loans held-for-sale 13,863 14,414
Liabilities    
ABS issued, net 0 58,386
Trust preferred securities and subordinated notes, net 78,120 80,910
Guarantee obligations 3,689 2,627
Estimated Fair Value | Senior Notes | Level 1    
Liabilities    
Senior Notes $ 451,517 $ 335,904