v3.26.3
Investment Securities Available For Sale, at Fair Value - Schedule of Investment Securities Available for Sale (Details) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Fair Value, Option    
Amortized Cost $ 7,692,982 $ 6,789,275
Unrealized Gains 7,139 135,424
Unrealized Losses (356,960) (19,918)
Fair Value 7,343,161 6,904,781
Agency RMBS    
Fair Value, Option    
Amortized Cost 7,049,587 6,520,774
Unrealized Gains 3,299 128,071
Unrealized Losses (316,135) (15,369)
Fair Value 6,736,751 6,633,476
Non-Agency RMBS    
Fair Value, Option    
Amortized Cost 60,557 22,203
Unrealized Gains 3,840 5,701
Unrealized Losses (3,575) (2,312)
Fair Value 60,822 25,592
Non-Agency RMBS | Collateral Pledged    
Fair Value, Option    
Fair Value 11,900  
U.S. Treasury securities    
Fair Value, Option    
Amortized Cost 582,838 246,298
Unrealized Gains 0 1,652
Unrealized Losses (37,250) (2,237)
Fair Value 545,588 245,713
Fixed rate    
Fair Value, Option    
Amortized Cost 6,810,942 6,300,852
Unrealized Gains 1,022 124,348
Unrealized Losses (281,926) (700)
Fair Value 6,530,038 6,424,500
Adjustable rate    
Fair Value, Option    
Amortized Cost 101,008 114,427
Unrealized Gains 666 3,662
Unrealized Losses (209) 0
Fair Value 101,465 118,089
Interest-only    
Fair Value, Option    
Amortized Cost 137,637 105,495
Unrealized Gains 1,611 61
Unrealized Losses (34,000) (14,669)
Fair Value 105,248 90,887
Fannie Mae | Fixed rate    
Fair Value, Option    
Amortized Cost 3,599,464 3,445,953
Unrealized Gains 636 71,677
Unrealized Losses (142,333) (420)
Fair Value 3,457,767 3,517,210
Fannie Mae | Adjustable rate    
Fair Value, Option    
Amortized Cost 74,310 84,215
Unrealized Gains 592 2,911
Unrealized Losses (187) 0
Fair Value 74,715 87,126
Freddie Mac | Fixed rate    
Fair Value, Option    
Amortized Cost 3,211,478 2,854,899
Unrealized Gains 386 52,671
Unrealized Losses (139,593) (280)
Fair Value 3,072,271 2,907,290
Freddie Mac | Adjustable rate    
Fair Value, Option    
Amortized Cost 26,698 30,212
Unrealized Gains 74 751
Unrealized Losses (22) 0
Fair Value 26,750 30,963
Freddie Mac | Interest-only    
Fair Value, Option    
Amortized Cost 2,610 3,377
Unrealized Gains 486 0
Unrealized Losses 0 (315)
Fair Value 3,096 3,062
Ginnie Mae | Interest-only    
Fair Value, Option    
Amortized Cost 135,027 102,118
Unrealized Gains 1,125 61
Unrealized Losses (34,000) (14,354)
Fair Value $ 102,152 $ 87,825