v3.26.1
Loans - Schedule of Assets and Liabilities Related to VIEs (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Assets            
Restricted Cash $ 20,526   $ 18,489      
Other assets 58,449   58,900      
Total Assets 7,935,584   8,711,530      
Liabilities            
Securitized debt, at fair value [1] 6,355,237   7,177,923      
Other liabilities [2] 38,837   42,720      
Total Liabilities 7,389,580   8,150,796      
Total Equity 546,004 $ 544,396 560,734 $ 536,407 $ 543,870 $ 543,423
Securitized Residential Mortgage Loans | Residential Portfolio Segment            
Assets            
Securitized residential mortgage loans, at fair value 7,119,175   7,999,619      
Restricted Cash 1,086   1,067      
Other assets 47,752   51,356      
Total Assets 7,168,013   8,052,042      
Liabilities            
Securitized debt, at fair value 6,355,237   7,177,923      
Other liabilities 28,138   30,900      
Total Liabilities 6,383,375   7,208,823      
Total Equity 784,638   843,219      
Securitized Residential Mortgage Loans | Non-Agency Loans | Residential Portfolio Segment            
Assets            
Securitized residential mortgage loans, at fair value 6,212,018   6,904,872      
Restricted Cash 22   0      
Other assets 35,833   37,711      
Total Assets 6,247,873   6,942,583      
Liabilities            
Securitized debt, at fair value 5,606,863   6,265,540      
Other liabilities 24,182   26,129      
Total Liabilities 5,631,045   6,291,669      
Total Equity 616,828   650,914      
Securitized Residential Mortgage Loans | Home Equity Loans | Residential Portfolio Segment            
Assets            
Securitized residential mortgage loans, at fair value 780,920   960,533      
Restricted Cash 1,055   1,055      
Other assets 6,982   8,128      
Total Assets 788,957   969,716      
Liabilities            
Securitized debt, at fair value 660,721   817,889      
Other liabilities 3,697   4,497      
Total Liabilities 664,418   822,386      
Total Equity 124,539   147,330      
Securitized Residential Mortgage Loans | Re- and Non-Performing Loans | Residential Portfolio Segment            
Assets            
Securitized residential mortgage loans, at fair value 126,237   134,214      
Restricted Cash 9   12      
Other assets 4,937   5,517      
Total Assets 131,183   139,743      
Liabilities            
Securitized debt, at fair value 87,653   94,494      
Other liabilities 259   274      
Total Liabilities 87,912   94,768      
Total Equity $ 43,271   $ 44,975      
[1] These balances relate to certain residential mortgage loans which were securitized resulting in the Company consolidating the variable interest entities that were created to facilitate these securitizations as the Company was determined to be the primary beneficiary. The "Securitized debt, at fair value" is collateralized by the "Securitized residential mortgage loans, at fair value" held within the securitization trusts. See Note 3 and Note 6 for additional details.
[2] Refer to Note 7 and Note 10 for additional details on amounts payable to affiliates.