Fair Value - Level III (Details) - USD ($)
$ in Thousands |
3 Months Ended |
6 Months Ended |
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
| Changes in financial assets classified as Level III |
|
|
|
|
| Balance at the beginning of the period |
$ 32,827,410
|
$ 38,143,483
|
$ 34,857,913
|
$ 38,156,506
|
| Total realized and unrealized gains (losses): |
|
|
|
|
| Change in fair value / gain on sale |
(1,666,380)
|
(1,495,430)
|
(3,468,142)
|
(2,595,035)
|
| Net accretion |
$ 1,038
|
$ 1,189
|
$ 2,090
|
$ 2,264
|
| Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] |
Available-for-sale securities
|
Available-for-sale securities
|
Available-for-sale securities
|
Available-for-sale securities
|
| Included in OCI |
$ (1,184)
|
$ 58
|
$ (1,863)
|
$ (809)
|
| Purchases / Originations |
294,017
|
524,986
|
526,827
|
756,095
|
| Sales |
(330,236)
|
(445,845)
|
(512,323)
|
(743,164)
|
| Issuances |
(4,200)
|
|
(8,065)
|
|
| Cash repayments / receipts |
90,922
|
(64,478)
|
7,430
|
(183,264)
|
| Transfers into Level III |
|
(20,527)
|
(64,161)
|
(28,122)
|
| Transfers out of Level III |
(12,015)
|
(1,144)
|
(24,210)
|
1,340,244
|
| Transfers within Level III |
0
|
|
0
|
|
| Consolidation of VIEs |
657,385
|
717,180
|
657,385
|
717,180
|
| Deconsolidation of VIEs |
(116,567)
|
|
(232,691)
|
(62,423)
|
| Balance at the end of the period |
31,740,190
|
37,359,472
|
31,740,190
|
37,359,472
|
| Amount of unrealized gains (losses) attributable to assets |
|
|
|
|
| Included in earnings |
(1,679,746)
|
(1,517,187)
|
(3,490,003)
|
(2,635,882)
|
| Included in OCI |
(1,184)
|
58
|
(1,863)
|
(809)
|
| Loans under fair value option |
|
|
|
|
| Changes in financial assets classified as Level III |
|
|
|
|
| Balance at the beginning of the period |
2,311,351
|
2,446,636
|
2,323,543
|
2,516,008
|
| Total realized and unrealized gains (losses): |
|
|
|
|
| Change in fair value / gain on sale |
(61)
|
29,867
|
(12,729)
|
88,271
|
| Net accretion |
0
|
0
|
0
|
0
|
| Included in OCI |
0
|
0
|
0
|
0
|
| Purchases / Originations |
287,490
|
524,986
|
520,300
|
756,095
|
| Sales |
(330,236)
|
(445,845)
|
(512,323)
|
(743,164)
|
| Issuances |
0
|
|
0
|
|
| Cash repayments / receipts |
(52,961)
|
(59,581)
|
(91,038)
|
(114,209)
|
| Transfers into Level III |
|
0
|
28
|
0
|
| Transfers out of Level III |
(409)
|
(1,225)
|
(12,607)
|
(8,163)
|
| Transfers within Level III |
229,828
|
|
229,828
|
|
| Consolidation of VIEs |
0
|
0
|
0
|
0
|
| Deconsolidation of VIEs |
0
|
|
0
|
0
|
| Balance at the end of the period |
2,445,002
|
2,494,838
|
2,445,002
|
2,494,838
|
| Amount of unrealized gains (losses) attributable to assets |
|
|
|
|
| Included in earnings |
(14,476)
|
6,921
|
(36,670)
|
45,102
|
| Included in OCI |
0
|
0
|
0
|
0
|
| RMBS |
|
|
|
|
| Changes in financial assets classified as Level III |
|
|
|
|
| Balance at the beginning of the period |
86,717
|
91,941
|
88,283
|
93,806
|
| Total realized and unrealized gains (losses): |
|
|
|
|
| Change in fair value / gain on sale |
0
|
0
|
0
|
0
|
| Net accretion |
1,038
|
1,189
|
2,090
|
2,264
|
| Included in OCI |
(1,184)
|
58
|
(1,863)
|
(809)
|
| Purchases / Originations |
0
|
0
|
0
|
0
|
| Sales |
0
|
0
|
0
|
0
|
| Issuances |
0
|
|
0
|
|
| Cash repayments / receipts |
(1,771)
|
(1,825)
|
(3,710)
|
(3,898)
|
| Transfers into Level III |
|
0
|
0
|
0
|
| Transfers out of Level III |
0
|
0
|
0
|
0
|
| Transfers within Level III |
0
|
|
0
|
|
| Consolidation of VIEs |
0
|
0
|
0
|
0
|
| Deconsolidation of VIEs |
0
|
|
0
|
0
|
| Balance at the end of the period |
84,800
|
91,363
|
84,800
|
91,363
|
| Amount of unrealized gains (losses) attributable to assets |
|
|
|
|
| Included in earnings |
1,038
|
1,189
|
2,080
|
2,264
|
| Included in OCI |
(1,184)
|
58
|
(1,863)
|
(809)
|
| CMBS |
|
|
|
|
| Changes in financial assets classified as Level III |
|
|
|
|
| Balance at the beginning of the period |
32,237
|
27,271
|
28,197
|
27,345
|
| Total realized and unrealized gains (losses): |
|
|
|
|
| Change in fair value / gain on sale |
(427)
|
108
|
(346)
|
79
|
| Net accretion |
0
|
0
|
0
|
0
|
| Included in OCI |
0
|
0
|
0
|
0
|
| Purchases / Originations |
6,527
|
0
|
6,527
|
0
|
| Sales |
0
|
0
|
0
|
0
|
| Issuances |
0
|
|
0
|
|
| Cash repayments / receipts |
(158)
|
(41)
|
(524)
|
(86)
|
| Transfers into Level III |
|
0
|
4,325
|
0
|
| Transfers out of Level III |
(8,735)
|
0
|
(8,735)
|
0
|
| Transfers within Level III |
0
|
|
0
|
|
| Consolidation of VIEs |
3,199
|
0
|
3,199
|
0
|
| Deconsolidation of VIEs |
0
|
|
0
|
0
|
| Balance at the end of the period |
32,643
|
27,338
|
32,643
|
27,338
|
| Amount of unrealized gains (losses) attributable to assets |
|
|
|
|
| Included in earnings |
(416)
|
108
|
(346)
|
137
|
| Included in OCI |
0
|
0
|
0
|
0
|
| Woodstar Fund investments |
|
|
|
|
| Changes in financial assets classified as Level III |
|
|
|
|
| Balance at the beginning of the period |
1,729,433
|
2,065,498
|
1,727,499
|
2,073,533
|
| Total realized and unrealized gains (losses): |
|
|
|
|
| Change in fair value / gain on sale |
(4,065)
|
(9,943)
|
(2,131)
|
(17,978)
|
| Net accretion |
0
|
0
|
0
|
0
|
| Included in OCI |
0
|
0
|
0
|
0
|
| Purchases / Originations |
0
|
0
|
0
|
0
|
| Sales |
0
|
0
|
0
|
0
|
| Issuances |
0
|
|
0
|
|
| Cash repayments / receipts |
0
|
0
|
0
|
0
|
| Transfers into Level III |
|
0
|
0
|
0
|
| Transfers out of Level III |
0
|
0
|
0
|
0
|
| Transfers within Level III |
0
|
|
0
|
|
| Consolidation of VIEs |
0
|
0
|
0
|
0
|
| Deconsolidation of VIEs |
0
|
|
0
|
0
|
| Balance at the end of the period |
1,725,368
|
2,055,555
|
1,725,368
|
2,055,555
|
| Amount of unrealized gains (losses) attributable to assets |
|
|
|
|
| Included in earnings |
(4,065)
|
(9,943)
|
(2,131)
|
(17,978)
|
| Included in OCI |
0
|
0
|
0
|
0
|
| Domestic servicing rights |
|
|
|
|
| Changes in financial assets classified as Level III |
|
|
|
|
| Balance at the beginning of the period |
27,743
|
23,143
|
28,280
|
22,390
|
| Total realized and unrealized gains (losses): |
|
|
|
|
| Change in fair value / gain on sale |
1,744
|
2,363
|
1,207
|
3,116
|
| Net accretion |
0
|
0
|
0
|
0
|
| Included in OCI |
0
|
0
|
0
|
0
|
| Purchases / Originations |
0
|
0
|
0
|
0
|
| Sales |
0
|
0
|
0
|
0
|
| Issuances |
0
|
|
0
|
|
| Cash repayments / receipts |
0
|
0
|
0
|
0
|
| Transfers into Level III |
|
0
|
0
|
0
|
| Transfers out of Level III |
0
|
0
|
0
|
0
|
| Transfers within Level III |
0
|
|
0
|
|
| Consolidation of VIEs |
0
|
0
|
0
|
0
|
| Deconsolidation of VIEs |
0
|
|
0
|
0
|
| Balance at the end of the period |
29,487
|
25,506
|
29,487
|
25,506
|
| Amount of unrealized gains (losses) attributable to assets |
|
|
|
|
| Included in earnings |
1,744
|
2,363
|
1,207
|
3,116
|
| Included in OCI |
0
|
0
|
0
|
0
|
| VIE Assets |
|
|
|
|
| Changes in financial assets classified as Level III |
|
|
|
|
| Balance at the beginning of the period |
32,399,812
|
37,470,618
|
34,493,164
|
38,937,576
|
| Total realized and unrealized gains (losses): |
|
|
|
|
| Change in fair value / gain on sale |
(1,815,236)
|
(1,665,548)
|
(3,791,944)
|
(3,070,045)
|
| Net accretion |
0
|
0
|
0
|
0
|
| Included in OCI |
0
|
0
|
0
|
0
|
| Purchases / Originations |
0
|
0
|
0
|
0
|
| Sales |
0
|
0
|
0
|
0
|
| Issuances |
0
|
|
0
|
|
| Cash repayments / receipts |
0
|
0
|
0
|
0
|
| Transfers into Level III |
|
0
|
0
|
0
|
| Transfers out of Level III |
(2,895)
|
0
|
(2,895)
|
0
|
| Transfers within Level III |
(229,828)
|
|
(229,828)
|
|
| Consolidation of VIEs |
654,186
|
717,180
|
654,186
|
717,180
|
| Deconsolidation of VIEs |
(137,892)
|
|
(254,536)
|
(62,461)
|
| Balance at the end of the period |
30,868,147
|
36,522,250
|
30,868,147
|
36,522,250
|
| Amount of unrealized gains (losses) attributable to assets |
|
|
|
|
| Included in earnings |
(1,815,236)
|
(1,665,548)
|
(3,791,944)
|
(3,070,045)
|
| Included in OCI |
0
|
0
|
0
|
0
|
| VIE Liabilities |
|
|
|
|
| Changes in financial assets classified as Level III |
|
|
|
|
| Balance at the beginning of the period |
(3,759,883)
|
(3,981,624)
|
(3,831,053)
|
(5,514,152)
|
| Total realized and unrealized gains (losses): |
|
|
|
|
| Change in fair value / gain on sale |
151,665
|
147,723
|
337,801
|
401,522
|
| Net accretion |
0
|
0
|
0
|
0
|
| Included in OCI |
0
|
0
|
0
|
0
|
| Purchases / Originations |
0
|
0
|
0
|
0
|
| Sales |
0
|
0
|
0
|
0
|
| Issuances |
(4,200)
|
|
(8,065)
|
|
| Cash repayments / receipts |
145,812
|
(3,031)
|
102,702
|
(65,071)
|
| Transfers into Level III |
|
(20,527)
|
(68,514)
|
(28,122)
|
| Transfers out of Level III |
24
|
81
|
27
|
1,348,407
|
| Transfers within Level III |
0
|
|
0
|
|
| Consolidation of VIEs |
0
|
0
|
0
|
0
|
| Deconsolidation of VIEs |
21,325
|
|
21,845
|
38
|
| Balance at the end of the period |
(3,445,257)
|
(3,857,378)
|
(3,445,257)
|
(3,857,378)
|
| Amount of unrealized gains (losses) attributable to assets |
|
|
|
|
| Included in earnings |
151,665
|
147,723
|
337,801
|
401,522
|
| Included in OCI |
$ 0
|
$ 0
|
$ 0
|
$ 0
|