v3.26.3
Financing Agreements - Borrowings Under Repurchase Agreement and Associated Assets Pledged as Collateral (Details) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Asset Pledged as Collateral with Right    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 12,438,498 $ 11,961,120
Asset Pledged as Collateral with Right | Agreements with mark-to-market collateral provisions    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements 5,427,557 4,187,770
Mark-to-market financing agreements secured by residential whole loans | Asset Pledged as Collateral with Right    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements 8,657,884 8,764,343
Mark-to-market financing agreements secured by residential whole loans | Asset Pledged as Collateral with Right | Agreements with mark-to-market collateral provisions    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements 1,692,712 1,043,363
Mark-to-market financing agreements secured by real estate owned | Asset Pledged as Collateral with Right    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements 86,946 89,372
Mark-to-market financing agreements secured by real estate owned | Asset Pledged as Collateral with Right | Agreements with mark-to-market collateral provisions    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements 41,177 37,002
Non-agency MBS | Agreements with mark-to-market collateral provisions    
Assets Sold under Agreements to Repurchase [Line Items]    
Carrying value 259,900 466,900
Fair value of securities pledged as collateral under financing agreements 301,100 600,000
Held at Fair Value | Mark-to-market financing agreements secured by residential whole loans    
Assets Sold under Agreements to Repurchase [Line Items]    
Carrying value $ 1,705,480 $ 1,308,661
Weighted average haircut (percent) 14.36% 20.28%
Held at Fair Value | Mark-to-market financing agreements secured by residential whole loans | Asset Pledged as Collateral with Right    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 1,993,366 $ 1,642,252
Held at Fair Value | Mark-to-market financing agreements secured by securities at fair value    
Assets Sold under Agreements to Repurchase [Line Items]    
Carrying value $ 3,566,973 $ 2,980,762
Weighted average haircut (percent) 3.35% 3.82%
Held at Fair Value | Mark-to-market financing agreements secured by securities at fair value | Asset Pledged as Collateral with Right    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 3,693,668 $ 3,107,405
Held at Fair Value | Mark-to-market financing agreements secured by real estate owned    
Assets Sold under Agreements to Repurchase [Line Items]    
Carrying value $ 29,518 $ 23,307
Weighted average haircut (percent) 36.93% 42.24%
Held at Fair Value | Mark-to-market financing agreements secured by real estate owned | Asset Pledged as Collateral with Right    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 46,845 $ 41,072
Held at Fair Value | Non-mark-to-market financing secured by residential whole loans    
Assets Sold under Agreements to Repurchase [Line Items]    
Carrying value $ 59,123 $ 82,016
Weighted average haircut (percent) 19.67% 28.88%
Held at Fair Value | Non-mark-to-market financing secured by residential whole loans | Asset Pledged as Collateral with Right    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 73,629 $ 115,326