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Financing Agreements - Financing Agreements (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |  |
--- | --- | --- | --- | ---
Sep. 30, 2024 | Dec. 31, 2023 | Jan. 31, 2024 | Jan. 11, 2024
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | $ 8,984,209 | $ 8,683,152 |  |
Fair Value / Carrying Value | $ 8,922,502 | $ 8,536,745 |  |
Weighted Average Cost of Funding (in Percent) | 4.54% | 4.33% |  |
Wells Fargo |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Weighted Average Months to Maturity | 10 months 3 days |  |  |
Barclays |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Weighted Average Months to Maturity | 6 months 27 days |  |  |
Senior Notes | 8.875% Senior Notes Due 2029 |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Stated interest rate (as a percent) | 8.875% |  | 8.875% | 8.875%
Agreements with mark-to-market collateral provisions |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | $ 2,772,926 | $ 2,361,146 |  |
Fair Value / Carrying Value | $ 2,772,110 | $ 2,360,254 |  |
Weighted Average Cost of Funding (in Percent) | 6.85% | 7.09% |  |
Agreements with mark-to-market collateral provisions | 0-3 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | $ 1,441,614 |  |  |
Agreements with mark-to-market collateral provisions | 3-6 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 205,389 |  |  |
Agreements with mark-to-market collateral provisions | 6-12 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 422,481 |  |  |
Fair Value / Carrying Value | $ 454,900 |  |  |
Extension period | 1 year |  |  |
Agreements with mark-to-market collateral provisions | 6-12 Months | Maximum |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Extension period | 24 months |  |  |
Agreements with mark-to-market collateral provisions | Greater than 12 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | $ 703,442 |  |  |
Fair Value / Carrying Value | 1,300,000 |  |  |
Agreements with mark-to-market collateral provisions | Estimated Fair Value |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Financing agreements, amortized cost | 194,100 | $ 469,400 |  |
Agreements with mark-to-market collateral provisions | Estimated Fair Value | Held at Fair Value |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Fair Value / Carrying Value |  | 469,400 |  |
Agreements with mark-to-market collateral provisions | Residential whole loan |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 1,854,454 | 1,738,543 |  |
Fair Value / Carrying Value | $ 1,853,638 | $ 1,737,651 |  |
Weighted Average Cost of Funding (in Percent) | 7.37% | 7.50% |  |
Weighted Average Term to Maturity (Months) | 10 months 27 days | 11 months 24 days |  |
Agreements with mark-to-market collateral provisions | Residential whole loan | 0-3 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | $ 523,142 |  |  |
Agreements with mark-to-market collateral provisions | Residential whole loan | 3-6 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 205,389 |  |  |
Agreements with mark-to-market collateral provisions | Residential whole loan | 6-12 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 422,481 |  |  |
Agreements with mark-to-market collateral provisions | Residential whole loan | Greater than 12 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 703,442 |  |  |
Agreements with mark-to-market collateral provisions | Residential whole loan | Not Held at Fair Value |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Fair Value / Carrying Value | 194,100 |  |  |
Agreements with mark-to-market collateral provisions | Securities |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 918,472 | $ 622,603 |  |
Fair Value / Carrying Value | $ 918,472 | $ 622,603 |  |
Weighted Average Cost of Funding (in Percent) | 5.65% | 5.81% |  |
Weighted Average Term to Maturity (Months) | 9 days | 6 days |  |
Agreements with mark-to-market collateral provisions | Securities | 0-3 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | $ 918,472 |  |  |
Agreements with mark-to-market collateral provisions | Securities | 3-6 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 0 |  |  |
Agreements with mark-to-market collateral provisions | Securities | 6-12 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 0 |  |  |
Agreements with mark-to-market collateral provisions | Securities | Greater than 12 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 0 |  |  |
Agreements with Non-mark-to-market Collateral Provisions | Estimated Fair Value |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Fair Value / Carrying Value |  | $ 178,900 |  |
Financing agreements, amortized cost | 222,300 | 178,900 |  |
Agreements with Non-mark-to-market Collateral Provisions | Residential whole loan |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 678,658 | 1,217,671 |  |
Fair Value / Carrying Value | $ 678,026 | $ 1,216,697 |  |
Weighted Average Cost of Funding (in Percent) | 7.95% | 7.94% |  |
Weighted Average Term to Maturity (Months) | 11 months 15 days | 20 months 18 days |  |
Agreements with Non-mark-to-market Collateral Provisions | Residential whole loan | 0-3 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | $ 78,040 |  |  |
Agreements with Non-mark-to-market Collateral Provisions | Residential whole loan | 3-6 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 0 |  |  |
Agreements with Non-mark-to-market Collateral Provisions | Residential whole loan | 6-12 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 378,355 |  |  |
Agreements with Non-mark-to-market Collateral Provisions | Residential whole loan | Greater than 12 Months |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 222,263 |  |  |
Agreements with Non-mark-to-market Collateral Provisions | Residential whole loan | Held at Fair Value |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Fair Value / Carrying Value | $ 222,300 |  |  |
Securities | Estimated Fair Value |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Fair Value / Carrying Value |  | $ 4,000,000 |  |
Weighted Average Cost of Funding (in Percent) | (1.31%) | (1.40%) |  |
Financing agreements, amortized cost | $ 4,700,000 | $ 4,100,000 |  |
Securities | Residential whole loan |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 5,342,625 | 4,894,746 |  |
Fair Value / Carrying Value | $ 5,288,997 | $ 4,750,805 |  |
Weighted Average Cost of Funding (in Percent) | 4.88% | 4.37% |  |
Securities | Residential whole loan | Held at Fair Value |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Fair Value / Carrying Value | $ 4,700,000 |  |  |
Convertible senior notes | Unsecured |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | 0 | $ 209,589 |  |
Fair Value / Carrying Value | $ 0 | $ 208,989 |  |
Weighted Average Cost of Funding (in Percent) | 0.00% | 6.94% |  |
Weighted Average Term to Maturity (Months) | 0 months | 5 months 15 days |  |
8.875% Senior Notes Due 2029 | Unsecured |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | $ 115,000 |  |  |
Fair Value / Carrying Value | $ 111,089 |  |  |
Weighted Average Cost of Funding (in Percent) | 9.83% |  |  |
Weighted Average Term to Maturity (Months) | 52 months 18 days |  |  |
9.00% Senior Notes Due 2029 | Unsecured |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Unpaid Principal Balance | $ 75,000 |  |  |
Fair Value / Carrying Value | $ 72,280 |  |  |
Weighted Average Cost of Funding (in Percent) | 9.90% |  |  |
Weighted Average Term to Maturity (Months) | 58 months 15 days |  |  |
Impact of net Swap carry | Unsecured |  |  |  |
Financing Agreements [Line Items] |  |  |  |
Weighted Average Cost of Funding (in Percent) | (1.31%) | (1.40%) |  |

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