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Fair Value - Financial Assets and Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Financial assets:    
Loans and investments, net $ 11,215,625 $ 11,033,997
Loans held-for-sale, net 315,700 438,233
Securities held-to-maturity, net 158,658 157,154
Financial liabilities:    
Credit and repurchase facilities 4,780,753 3,559,490
Securitized debt 3,286,395 4,622,489
Senior unsecured notes 1,237,160 1,236,147
Convertible senior unsecured notes 286,555 285,853
Junior subordinated notes 144,890 144,686
Mortgage notes payable — real estate owned 123,851 74,897
Level 1    
Financial assets:    
Loans and investments, net 0  
Loans held-for-sale, net 0  
Capitalized mortgage servicing rights, net 0  
Securities held-to-maturity, net 0  
Financial liabilities:    
Credit and repurchase facilities 0  
Securitized debt 0  
Senior unsecured notes 1,136,669  
Convertible senior unsecured notes 0  
Junior subordinated notes 0  
Mortgage notes payable — real estate owned 0  
Level 2    
Financial assets:    
Loans and investments, net 0  
Loans held-for-sale, net 320,967  
Capitalized mortgage servicing rights, net 0  
Securities held-to-maturity, net 0  
Financial liabilities:    
Credit and repurchase facilities 279,404  
Securitized debt 0  
Senior unsecured notes 0  
Convertible senior unsecured notes 287,213  
Junior subordinated notes 0  
Mortgage notes payable — real estate owned 0  
Level 3    
Financial assets:    
Loans and investments, net 11,248,443  
Loans held-for-sale, net 3,554  
Capitalized mortgage servicing rights, net 492,930  
Securities held-to-maturity, net 149,283  
Financial liabilities:    
Credit and repurchase facilities 4,516,963  
Securitized debt 3,285,150  
Senior unsecured notes 0  
Convertible senior unsecured notes 0  
Junior subordinated notes 109,821  
Mortgage notes payable — real estate owned 122,975  
Carrying Value    
Financial assets:    
Loans and investments, net 11,215,625 11,033,997
Loans held-for-sale, net 314,635 435,759
Capitalized mortgage servicing rights, net 357,220  
Securities held-to-maturity, net 158,658 157,154
Financial liabilities:    
Credit and repurchase facilities 4,780,753 3,559,490
Securitized debt 3,286,395 4,622,489
Senior unsecured notes 1,237,160 1,236,147
Convertible senior unsecured notes 286,555 285,853
Junior subordinated notes 144,890 144,686
Mortgage notes payable — real estate owned 123,851 74,897
Fair Value    
Financial assets:    
Loans and investments, net 11,248,443 11,122,205
Loans held-for-sale, net 324,521 449,339
Capitalized mortgage servicing rights, net 492,930  
Securities held-to-maturity, net 149,283 144,508
Financial liabilities:    
Credit and repurchase facilities 4,796,367 3,592,120
Securitized debt 3,285,150 4,616,409
Senior unsecured notes 1,136,669 1,160,154
Convertible senior unsecured notes 287,213 287,500
Junior subordinated notes 109,821 109,099
Mortgage notes payable — real estate owned $ 122,975 $ 74,495