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Financing Agreements - Financing Agreements (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022
--- | --- | ---
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | $ 8,683,152 | $ 7,043,944
Fair Value / Carrying Value | $ 8,536,745 | $ 6,812,086
Weighted Average Cost of Funding (in Percent) | 4.11% | 3.46%
Agreements with mark-to-market collateral provisions |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | $ 2,361,146 | $ 2,223,298
Fair Value / Carrying Value | $ 2,360,254 | $ 2,223,047
Weighted Average Cost of Funding (in Percent) | 6.93% | 3.62%
Agreements with mark-to-market collateral provisions | 0-3 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | $ 1,223,705 |
Agreements with mark-to-market collateral provisions | 3-6 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 58,561 |
Agreements with mark-to-market collateral provisions | 6-12 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 564,772 |
Fair Value / Carrying Value | $ 335,200 |
Extension period | 1 year |
Agreements with mark-to-market collateral provisions | 6-12 Months | Maximum |  |
Financing Agreements [Line Items] |  |
Extension period | 33 months |
Agreements with mark-to-market collateral provisions | Greater than 12 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | $ 514,108 |
Fair Value / Carrying Value | 945,800 |
Agreements with mark-to-market collateral provisions | Estimate of Fair Value |  |
Financing Agreements [Line Items] |  |
Fair Value / Carrying Value |  | $ 884,500
Financing agreements, amortized cost | 178,900 | 884,500
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 1,738,543 | 2,111,647
Fair Value / Carrying Value | $ 1,737,651 | $ 2,111,396
Weighted Average Cost of Funding (in Percent) | 7.23% | 3.63%
Weighted Average Term to Maturity (Months) | 11 months 24 days | 6 months 27 days
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO | Not Held At Fair Value |  |
Financing Agreements [Line Items] |  |
Fair Value / Carrying Value | $ 178,900 |
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO | 0-3 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 601,102 |
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO | 3-6 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 58,561 |
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO | 6-12 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 564,772 |
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO | Greater than 12 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 514,108 |
Agreements with mark-to-market collateral provisions | Securitized debt |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 622,603 | $ 111,651
Fair Value / Carrying Value | $ 622,603 | $ 111,651
Weighted Average Cost of Funding (in Percent) | 5.75% | 3.34%
Weighted Average Term to Maturity (Months) | 6 days | 1 month 15 days
Agreements with mark-to-market collateral provisions | Securitized debt | 0-3 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | $ 622,603 |
Agreements with mark-to-market collateral provisions | Securitized debt | 3-6 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 0 |
Agreements with mark-to-market collateral provisions | Securitized debt | 6-12 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 0 |
Agreements with mark-to-market collateral provisions | Securitized debt | Greater than 12 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 0 |
Agreements with non-mark-to-market collateral provisions | Estimate of Fair Value |  |
Financing Agreements [Line Items] |  |
Financing agreements, amortized cost | 469,400 | $ 578,900
Agreements with non-mark-to-market collateral provisions | Estimate of Fair Value | Held At Fair Value |  |
Financing Agreements [Line Items] |  |
Fair Value / Carrying Value |  | 578,900
Agreements with non-mark-to-market collateral provisions | Residential Whole Loans and REO |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 1,217,671 | 1,004,260
Fair Value / Carrying Value | $ 1,216,697 | $ 1,003,604
Weighted Average Cost of Funding (in Percent) | 7.71% | 5.00%
Weighted Average Term to Maturity (Months) | 20 months 18 days | 16 months 24 days
Agreements with non-mark-to-market collateral provisions | Residential Whole Loans and REO | Held At Fair Value |  |
Financing Agreements [Line Items] |  |
Fair Value / Carrying Value | $ 469,400 |
Agreements with non-mark-to-market collateral provisions | Residential Whole Loans and REO | 0-3 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 36,341 |
Agreements with non-mark-to-market collateral provisions | Residential Whole Loans and REO | 3-6 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 10,151 |
Agreements with non-mark-to-market collateral provisions | Residential Whole Loans and REO | 6-12 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 44,342 |
Agreements with non-mark-to-market collateral provisions | Residential Whole Loans and REO | Greater than 12 Months |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | $ 1,126,837 |
Securitized debt | Estimate of Fair Value |  |
Financing Agreements [Line Items] |  |
Fair Value / Carrying Value |  | $ 2,400,000
Weighted Average Cost of Funding (in Percent) | (1.36%) | (0.14%)
Financing agreements, amortized cost | $ 4,100,000 | $ 2,600,000
Securitized debt | Residential Whole Loans and REO |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 4,894,746 | 3,586,397
Fair Value / Carrying Value | $ 4,750,805 | $ 3,357,590
Weighted Average Cost of Funding (in Percent) | 4.00% | 2.99%
Securitized debt | Residential Whole Loans and REO | Held At Fair Value |  |
Financing Agreements [Line Items] |  |
Fair Value / Carrying Value | $ 4,000,000 |
Convertible senior notes | Unsecured Debt |  |
Financing Agreements [Line Items] |  |
Unpaid Principal Balance | 209,589 | $ 229,989
Fair Value / Carrying Value | $ 208,989 | $ 227,845
Weighted Average Cost of Funding (in Percent) | 6.94% | 6.94%
Weighted Average Term to Maturity (Months) | 5 months 15 days | 17 months 15 days
Impact of net Swap carry | Unsecured Debt |  |
Financing Agreements [Line Items] |  |
Weighted Average Cost of Funding (in Percent) | (1.36%) | (0.14%)

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