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Segment Information - Balance Sheet (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Dec. 31, 2023
Assets:        
Cash and cash equivalents $ 255,742 $ 503,803 $ 737,485 $ 928,974
Restricted cash 90,944 156,376 $ 218,228 $ 608,233
Loans and investments, net 11,333,023 11,033,997    
Loans held-for-sale, net 361,447 435,759    
Capitalized mortgage servicing rights, net 348,326 368,678    
Securities held-to-maturity, net 156,920 157,154    
Investments in equity affiliates 71,796 76,312    
Real estate owned, net 365,186 176,543    
Goodwill and other intangible assets 87,336 88,119    
Other assets and due from related party 492,319 494,240    
Total assets [1] 13,563,039 13,490,981    
Liabilities:        
Debt obligations 10,087,622 9,923,562    
Allowance for loss-sharing obligations 89,757 83,150    
Other liabilities and due to related parties 291,797 332,299    
Total liabilities [1] 10,469,176 10,339,011    
Structured Business | Operating segments        
Assets:        
Cash and cash equivalents 65,771 58,188    
Restricted cash 63,713 134,320    
Loans and investments, net 11,333,023 11,033,997    
Loans held-for-sale, net 0 0    
Capitalized mortgage servicing rights, net 0 0    
Securities held-to-maturity, net 0 0    
Investments in equity affiliates 71,796 76,312    
Real estate owned, net 365,186 176,543    
Goodwill and other intangible assets 12,500 12,500    
Other assets and due from related party 411,439 415,310    
Total assets 12,323,428 11,907,170    
Liabilities:        
Debt obligations 9,758,138 9,500,901    
Allowance for loss-sharing obligations 0 0    
Other liabilities and due to related parties 219,877 244,948    
Total liabilities 9,978,015 9,745,849    
Agency Business | Operating segments        
Assets:        
Cash and cash equivalents 189,971 445,615    
Restricted cash 27,231 22,056    
Loans and investments, net 0 0    
Loans held-for-sale, net 361,447 435,759    
Capitalized mortgage servicing rights, net 348,326 368,678    
Securities held-to-maturity, net 156,920 157,154    
Investments in equity affiliates 0 0    
Real estate owned, net 0 0    
Goodwill and other intangible assets 74,836 75,619    
Other assets and due from related party 80,880 78,930    
Total assets 1,239,611 1,583,811    
Liabilities:        
Debt obligations 329,484 422,661    
Allowance for loss-sharing obligations 89,757 83,150    
Other liabilities and due to related parties 71,920 87,351    
Total liabilities $ 491,161 $ 593,162    
[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities, or VIEs, as we are the primary beneficiary of these VIEs. At June 30, 2025 and December 31, 2024, assets of our consolidated VIEs totaled $4,852,140 and $6,124,925, respectively, and the liabilities of our consolidated VIEs totaled $3,520,197 and $4,637,744, respectively. See Note 15 for discussion of our VIEs.