v3.26.3
Financing Agreements - Pledged Collateral (Details) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Non-agency MBS | Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 301,100 $ 600,000
Carrying value 259,900 466,900
Asset Pledged as Collateral with Right    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 12,438,498 11,961,120
Accrued interest 37,300 27,000
Asset Pledged as Collateral with Right | Securitized    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 6,937,312 7,658,024
Asset Pledged as Collateral with Right | Non-Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 73,629 115,326
Asset Pledged as Collateral with Right | Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 5,427,557 4,187,770
Asset Pledged as Collateral with Right | Residential whole loans    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 8,657,884 8,764,343
Asset Pledged as Collateral with Right | Residential whole loans | Securitized    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 6,891,543 7,605,654
Asset Pledged as Collateral with Right | Residential whole loans | Non-Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 73,629 115,326
Asset Pledged as Collateral with Right | Residential whole loans | Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 1,692,712 1,043,363
Asset Pledged as Collateral with Right | Securities, at fair value    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 3,693,668 3,107,405
Asset Pledged as Collateral with Right | Securities, at fair value | Securitized    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 0 0
Asset Pledged as Collateral with Right | Securities, at fair value | Non-Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 0 0
Asset Pledged as Collateral with Right | Securities, at fair value | Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 3,693,668 3,107,405
Asset Pledged as Collateral with Right | Other assets: REO    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 86,946 89,372
Asset Pledged as Collateral with Right | Other assets: REO | Securitized    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 45,769 52,370
Asset Pledged as Collateral with Right | Other assets: REO | Non-Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements 0 0
Asset Pledged as Collateral with Right | Other assets: REO | Mark-to-Market    
Debt Instrument [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 41,177 $ 37,002