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v3.25.2

Borrowings and Financing Activities - Schedule of Debt (Details) - USD ($) $ in Thousands | Jun. 30, 2025 | Dec. 31, 2024
--- | --- | ---
Debt Instrument [Line Items] |  |  |
Total secured borrowings |  | $ 762,933 | $ 538,294
Senior Notes |  |  |
Debt Instrument [Line Items] |  |  |
Long-term debt |  | $ 1,066,603 | 1,065,337
Senior Notes | Senior Notes due 2027 |  |  |
Debt Instrument [Line Items] |  |  |
Interest rate on senior notes |  | 4.875% |
Long-term debt |  | $ 448,011 | 447,461
Senior Notes | Senior Notes due 2029 |  |  |
Debt Instrument [Line Items] |  |  |
Interest rate on senior notes |  | 6.20% |
Long-term debt |  | $ 618,592 | 617,876
FHLB Advances |  |  |
Debt Instrument [Line Items] |  |  |
FHLB advances due 2025, average interest rate | [1] | 4.663% |
FHLB advances due 2026, average interest rate | [1] | 4.465% |
FHLB advances due 2027, average interest rate | [1] | 2.562% |
2025 |  | $ 87,528 | 36,143
2026 |  | 3,270 | 1,835
2027 |  | 7,887 | 7,887
Total FHLB advances |  | 98,685 | 45,865
Mortgage Loan Financing Facilities |  |  |
Debt Instrument [Line Items] |  |  |
Long-term debt |  | $ 664,248 | $ 492,429
Mortgage financing facilities, average interest rate | [1] | 6.028% |
[1] | As of June 30, 2025. See “Mortgage Loan Financing Facilities” and “FHLB Advances” below for more information.

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