v3.26.1
Investments in RMBS, Assets by Maturity (Details)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2026
USD ($)
Security
Jun. 30, 2025
USD ($)
Dec. 31, 2025
USD ($)
Security
RMBS, Assets by Maturity [Abstract]      
Carrying value $ 1,079,802   $ 1,213,851
Carrying value of collateral for repurchase agreements 1,054,018   1,189,714
RMBS [Member]      
RMBS, Assets by Maturity [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
Carrying value of collateral for repurchase agreements $ 1,054,000   $ 1,189,700
Allowance for credit losses 0   0
Impairment charges 0 $ 0  
RMBS [Member] | Fair Value through OCI [Member] | Over 10 Years [Member]      
RMBS, Assets by Maturity [Abstract]      
Original face value 225,227   276,022
Book value 158,514   203,150
Gross unrealized gains 2,387   4,243
Gross unrealized losses (575)   (491)
Carrying value [1],[3] $ 160,326   $ 206,902
Number of securities | Security 17   20
Weighted average coupon 4.97%   4.67%
Weighted average yield [2] 5.07%   4.79%
Weighted average maturity 26 years   26 years
RMBS [Member] | Fair Value through Earnings [Member] | Over 10 Years [Member]      
RMBS, Assets by Maturity [Abstract]      
Original face value $ 1,112,352   $ 1,146,521
Book value 906,885   981,062
Gross unrealized gains 14,997   26,084
Gross unrealized losses (2,406)   (197)
Carrying value [1],[3] $ 919,476   $ 1,006,949
Number of securities | Security 85   87
Weighted average coupon 5.09%   5.05%
Weighted average yield [2] 5.18%   5.14%
Weighted average maturity 27 years   28 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.