v3.26.3
Residential Whole Loans - Vintage Information Regarding Residential Whole Loans (Details) - Residential whole loans - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Non-QM loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total $ 5,761,774 $ 5,346,693
Business purpose loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total 1,999,999 2,443,328
Business purpose loans | Single-family rental loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total 1,058,094 1,235,346
Business purpose loans | Single-family transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total 678,457 718,345
Business purpose loans | Multifamily transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total 263,448 489,637
Seasoned RPL/NPL loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total 885,318 979,016
Other loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total 44,738 51,022
Estimated Fair Value    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
2026 1,475,650  
2025 1,818,476  
2024 846,668  
2023 767,704  
2022 958,068  
Prior 1,859,700  
Total 7,726,266  
Estimated Fair Value | Non-QM loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
2026 1,152,050  
2025 1,559,980  
2024 716,029  
2023 419,853  
2022 433,897  
Prior 977,436  
Total 5,259,245 4,753,480
Estimated Fair Value | Business purpose loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
2026 323,600  
2025 258,496  
2024 130,639  
2023 347,851  
2022 524,171  
Prior 337,171  
Total 1,921,928 2,348,165
Estimated Fair Value | Business purpose loans | Single-family rental loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
2026 43,612  
2025 1,560  
2024 35,767  
2023 187,325  
2022 424,069  
Prior 293,703  
Total 986,036 1,147,234
Estimated Fair Value | Business purpose loans | Single-family transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
2026 279,988  
2025 256,936  
2024 71,751  
2023 47,768  
2022 13,240  
Prior 2,761  
Total 672,444 711,294
Estimated Fair Value | Business purpose loans | Multifamily transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
2026 0  
2025 0  
2024 23,121  
2023 112,758  
2022 86,862  
Prior 40,707  
Total 263,448 489,637
Estimated Fair Value | Seasoned RPL/NPL loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
2026 0  
2025 0  
2024 0  
2023 0  
2022 0  
Prior 500,355  
Total 500,355 564,340
Estimated Fair Value | Other loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
2026 0  
2025 0  
2024 0  
2023 0  
2022 0  
Prior 44,738  
Total $ 44,738 $ 51,022