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Residential Whole Loans - Residential Whole Loans, at Carrying and Fair Value (Details)
$ in Thousands
 3 Months Ended
Sep. 30, 2024
USD ($)
loan
Jun. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
loan
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total Residential whole loans [1],[2] $ 9,027,371     $ 9,041,292
Residential whole loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Allowance for Credit Losses (10,657)     (20,451)
Total Residential whole loans $ 9,027,371     $ 9,041,292
Number of loans | loan 24,594     25,401
Gain from sale of loans $ 100 $ 200    
Residential whole loan | Held at Carrying Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 1,363,287      
Allowance for Credit Losses (10,657)     $ (20,451)
Total Residential whole loans $ 1,352,630     $ 1,529,784
Number of loans | loan 5,757     6,326
Residential whole loan | Held at Fair Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses $ 7,674,741      
Allowance for Credit Losses 0     $ 0
Total Residential whole loans $ 7,674,741     $ 7,511,508
Number of loans | loan 18,837     19,075
Residential whole loan | Business purpose loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses $ 3,684,042     $ 3,996,292
Total Residential whole loans 3,682,499     3,989,351
Residential whole loan | Business purpose loans | Held at Carrying Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 144,535     207,680
Residential whole loan | Business purpose loans | Held at Fair Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 3,539,507     3,788,612
Residential whole loan | Business purpose loans | Single family transitional        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 1,152,901     1,193,199
Residential whole loan | Business purpose loans | Single family transitional | New Construction Projects        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 446,500     471,100
Residential whole loan | Business purpose loans | Single family transitional | Held at Carrying Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 25,382     35,467
Residential whole loan | Business purpose loans | Single family transitional | Held at Fair Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 1,127,519     1,157,732
Residential whole loan | Business purpose loans | Multifamily transitional loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 1,058,079     1,168,297
Total Residential whole loans 1,058,079     1,168,297
Residential whole loan | Business purpose loans | Multifamily transitional loans | Held at Carrying Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 0     0
Residential whole loan | Business purpose loans | Multifamily transitional loans | Held at Fair Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 1,058,079     1,168,297
Residential whole loan | Business purpose loans | Single-family rental loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 1,473,062     1,634,796
Total Residential whole loans 1,472,687     1,630,442
Loans held for sale 0     13,600
Gain from sale of loans 0 $ 0 $ 500  
Residential whole loan | Business purpose loans | Single-family rental loans | Held at Carrying Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 119,153     172,213
Residential whole loan | Business purpose loans | Single-family rental loans | Held at Fair Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 1,353,909     1,462,583
Residential whole loan | Non-QM loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 4,172,797     3,805,577
Total Residential whole loans 4,171,055     3,700,052
Residential whole loan | Non-QM loans | Held at Carrying Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 751,550     843,884
Residential whole loan | Non-QM loans | Held at Fair Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 3,421,247     2,961,693
Residential whole loan | Legacy RPL/NPL loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 1,125,280     1,204,095
Total Residential whole loans 1,117,908     1,192,457
Residential whole loan | Legacy RPL/NPL loans | Held at Carrying Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 467,202     498,671
Residential whole loan | Legacy RPL/NPL loans | Held at Fair Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 658,078     705,424
Residential whole loan | Other loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 55,909     55,779
Total Residential whole loans 55,909     55,779
Residential whole loan | Other loans | Held at Carrying Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses 0     0
Residential whole loan | Other loans | Held at Fair Value        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans before allowance for credit losses $ 55,909     $ 55,779
[1] Includes approximately $6.3 billion and $5.7 billion of Residential whole loans transferred to consolidated variable interest entities (“VIEs”) at September 30, 2024 and December 31, 2023, respectively. Such assets can be used only to settle the obligations of each respective VIE.
[2] See Note 6 for information regarding the Company’s pledged assets.