v3.26.1
Investments in RMBS, Summary (Details)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2026
USD ($)
Security
Dec. 31, 2025
USD ($)
Security
Residential Mortgage-Backed Securities [Abstract]    
Carrying value $ 1,079,802 $ 1,213,851
RMBS [Member]    
Residential Mortgage-Backed Securities [Abstract]    
Original face value 1,337,579 1,422,543
Book value 1,065,399 1,184,212
Gross unrealized gains 17,384 30,327
Gross unrealized losses (2,981) (688)
Carrying value [1] $ 1,079,802 $ 1,213,851
Number of securities | Security 102 107
Weighted average coupon 5.08% 4.98%
Weighted average yield [2] 5.16% 5.08%
Weighted average maturity 27 years 27 years
Fannie Mae [Member] | Fair Value through OCI [Member]    
Residential Mortgage-Backed Securities [Abstract]    
Original face value $ 125,830 $ 150,782
Book value 88,167 110,321
Gross unrealized gains 1,799 3,094
Gross unrealized losses (72) (232)
Carrying value [1],[3] $ 89,894 $ 113,183
Number of securities | Security 9 10
Weighted average coupon 5.00% 4.67%
Weighted average yield [2] 5.12% 4.83%
Weighted average maturity 26 years 26 years
Fannie Mae [Member] | Fair Value through Earnings [Member]    
Residential Mortgage-Backed Securities [Abstract]    
Original face value $ 457,173 $ 469,667
Book value 377,824 408,260
Gross unrealized gains 5,913 10,506
Gross unrealized losses (1,332) (121)
Carrying value [1],[3] $ 382,405 $ 418,645
Number of securities | Security 34 35
Weighted average coupon 5.04% 5.04%
Weighted average yield [2] 5.13% 5.14%
Weighted average maturity 27 years 28 years
Freddie Mac [Member] | Fair Value through OCI [Member]    
Residential Mortgage-Backed Securities [Abstract]    
Original face value $ 99,397 $ 125,240
Book value 70,346 92,829
Gross unrealized gains 588 1,149
Gross unrealized losses (503) (259)
Carrying value [1],[3] $ 70,431 $ 93,719
Number of securities | Security 8 10
Weighted average coupon 4.94% 4.67%
Weighted average yield [2] 4.99% 4.76%
Weighted average maturity 26 years 26 years
Freddie Mac [Member] | Fair Value through Earnings [Member]    
Residential Mortgage-Backed Securities [Abstract]    
Original face value $ 655,179 $ 676,854
Book value 529,062 572,802
Gross unrealized gains 9,084 15,578
Gross unrealized losses (1,074) (76)
Carrying value [1],[3] $ 537,072 $ 588,304
Number of securities | Security 51 52
Weighted average coupon 5.13% 5.05%
Weighted average yield [2] 5.21% 5.14%
Weighted average maturity 27 years 27 years
[1] See Note 8 regarding the estimation of fair value, which approximates carrying value for all securities.
[2] The weighted average yield is based on the most recent gross monthly interest income, which is then annualized and divided by the book value of settled securities.
[3] The Company used an implied AA+ rating for the Agency RMBS.