v3.26.3
Derivative Instruments - Schedule of Reconciliation of Gross Derivative Assets and Liabilities (Details) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Derivative assets    
Gross Amount of Recognized Assets (Liabilities) $ 407,467 $ 23,998
Gross Amounts Offset in Balance Sheets (43,668) (10,650)
Variation Margin (352,406) (12,626)
Net Amounts of Assets (Liabilities) Presented in Balance Sheets 11,393 722
Derivative liabilities    
Gross Amount of Recognized Assets (Liabilities) (65,576) (59,409)
Gross Amounts Offset in Balance Sheets 43,668 10,650
Variation Margin 7,869 48,759
Net Amounts of Assets (Liabilities) Presented in Balance Sheets (14,039) 0
Interest rate caps    
Derivative assets    
Gross Amount of Recognized Assets (Liabilities) 1,021 31
Gross Amounts Offset in Balance Sheets 0 0
Variation Margin 0 0
Net Amounts of Assets (Liabilities) Presented in Balance Sheets 1,021 31
Options    
Derivative assets    
Gross Amount of Recognized Assets (Liabilities) 386  
Gross Amounts Offset in Balance Sheets 0  
Variation Margin 0  
Net Amounts of Assets (Liabilities) Presented in Balance Sheets 386  
IRLCs    
Derivative assets    
Gross Amount of Recognized Assets (Liabilities) 279 691
Gross Amounts Offset in Balance Sheets 0 0
Variation Margin 0 0
Net Amounts of Assets (Liabilities) Presented in Balance Sheets 279 691
TBAs    
Derivative assets    
Gross Amount of Recognized Assets (Liabilities) 27,227  
Gross Amounts Offset in Balance Sheets (17,520)  
Variation Margin 0  
Net Amounts of Assets (Liabilities) Presented in Balance Sheets 9,707 0
Derivative liabilities    
Gross Amount of Recognized Assets (Liabilities) (31,559)  
Gross Amounts Offset in Balance Sheets 17,520  
Variation Margin 0  
Net Amounts of Assets (Liabilities) Presented in Balance Sheets (14,039)  
Interest rate swaps    
Derivative assets    
Gross Amount of Recognized Assets (Liabilities) 257,276 8,769
Gross Amounts Offset in Balance Sheets (4,153) (8,769)
Variation Margin (253,123) 0
Net Amounts of Assets (Liabilities) Presented in Balance Sheets 0 0
Derivative liabilities    
Gross Amount of Recognized Assets (Liabilities) (4,153) (47,638)
Gross Amounts Offset in Balance Sheets 4,153 8,769
Variation Margin 0 38,869
Net Amounts of Assets (Liabilities) Presented in Balance Sheets 0 0
U.S. Treasury futures    
Derivative assets    
Gross Amount of Recognized Assets (Liabilities) 121,231 4,759
Gross Amounts Offset in Balance Sheets (21,948) (148)
Variation Margin (99,283) (4,611)
Net Amounts of Assets (Liabilities) Presented in Balance Sheets 0 0
Derivative liabilities    
Gross Amount of Recognized Assets (Liabilities) (21,948) (148)
Gross Amounts Offset in Balance Sheets 21,948 148
Variation Margin 0 0
Net Amounts of Assets (Liabilities) Presented in Balance Sheets 0 0
Commodity futures    
Derivative assets    
Gross Amount of Recognized Assets (Liabilities) 47 9,748
Gross Amounts Offset in Balance Sheets (47) (1,733)
Variation Margin 0 (8,015)
Net Amounts of Assets (Liabilities) Presented in Balance Sheets 0 0
Derivative liabilities    
Gross Amount of Recognized Assets (Liabilities) (4,936) (1,733)
Gross Amounts Offset in Balance Sheets 47 1,733
Variation Margin 4,889 0
Net Amounts of Assets (Liabilities) Presented in Balance Sheets 0 0
Credit default swaps    
Derivative liabilities    
Gross Amount of Recognized Assets (Liabilities) (2,980) (9,890)
Gross Amounts Offset in Balance Sheets 0 0
Variation Margin 2,980 9,890
Net Amounts of Assets (Liabilities) Presented in Balance Sheets $ 0 $ 0