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Residential Whole Loans - Residential Whole Loans, Additional Information (Details) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Asset Amount [1],[2] $ 9,027,371 $ 9,041,292
LTV ratio (as a percent) 80.00%  
Single-family transitional loans | As is value of collateral    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) $ 459,200 332,500
Multifamily transitional loans | As is value of collateral    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 568,300 218,800
Residential whole loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Asset Amount 9,027,371 9,041,292
Fair Value 9,034,027  
Unpaid Principal Balance (“UPB”) $ 9,346,212  
Weighted Average Coupon ( as a percent) 6.99%  
LTV ratio (as a percent) 64.00%  
60+ Days Past Due % 6.70%  
Residential whole loan | Current    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) $ 8,385,015  
Residential whole loan | 30-59    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 334,848  
Residential whole loan | 60-89    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 107,833  
Residential whole loan | 90 or more    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 518,516  
Residential whole loan | Carrying Value    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Asset Amount 1,352,630 1,529,784
Residential whole loan | Estimated Fair Value    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Asset Amount 7,674,741 7,511,508
Residential whole loan | Business purpose loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Asset Amount 3,682,499 3,989,351
Fair Value 3,685,291 3,988,746
Unpaid Principal Balance (“UPB”) $ 3,766,387 $ 4,098,044
Weighted Average Coupon ( as a percent) 8.44% 7.99%
Weighted Average Term to Maturity (Months)
LTV ratio (as a percent) 68.00% 67.00%
Weighted Average Original FICO
60+ Days Past Due % 5.50% 4.90%
Residential whole loan | Business purpose loans | Current    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) $ 3,452,162 $ 3,823,971
Residential whole loan | Business purpose loans | 30-59    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 105,883 73,567
Residential whole loan | Business purpose loans | 60-89    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 22,014 38,932
Residential whole loan | Business purpose loans | 90 or more    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 186,328 161,574
Residential whole loan | Business purpose loans | Single-family transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Asset Amount 1,151,733 1,190,612
Fair Value 1,152,489 1,191,715
Unpaid Principal Balance (“UPB”) $ 1,158,413 $ 1,197,346
Weighted Average Coupon ( as a percent) 10.46% 10.01%
Weighted Average Term to Maturity (Months) 6 months 7 months
LTV ratio (as a percent) 67.00% 66.00%
Weighted Average Original FICO 748 747
60+ Days Past Due % 8.30% 8.30%
Residential whole loan | Business purpose loans | Single-family transitional loans | Current    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) $ 1,021,676 $ 1,070,759
Residential whole loan | Business purpose loans | Single-family transitional loans | 30-59    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 41,089 27,246
Residential whole loan | Business purpose loans | Single-family transitional loans | 60-89    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 6,034 17,004
Residential whole loan | Business purpose loans | Single-family transitional loans | 90 or more    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 89,614 82,337
Residential whole loan | Business purpose loans | Multifamily transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Asset Amount 1,058,079 1,168,297
Fair Value 1,058,079 1,168,297
Unpaid Principal Balance (“UPB”) $ 1,102,732 $ 1,170,775
Weighted Average Coupon ( as a percent) 9.06% 8.41%
Weighted Average Term to Maturity (Months) 9 months 14 months
LTV ratio (as a percent) 67.00% 63.00%
Weighted Average Original FICO 748 747
60+ Days Past Due % 5.50% 1.80%
Residential whole loan | Business purpose loans | Multifamily transitional loans | Current    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) $ 994,102 $ 1,116,402
Residential whole loan | Business purpose loans | Multifamily transitional loans | 30-59    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 47,898 33,778
Residential whole loan | Business purpose loans | Multifamily transitional loans | 60-89    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 10,800 9,614
Residential whole loan | Business purpose loans | Multifamily transitional loans | 90 or more    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 49,932 10,981
Residential whole loan | Business purpose loans | Single-family rental loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Asset Amount 1,472,687 1,630,442
Fair Value 1,474,723 1,628,734
Unpaid Principal Balance (“UPB”) $ 1,505,242 $ 1,729,923
Weighted Average Coupon ( as a percent) 6.43% 6.30%
Weighted Average Term to Maturity (Months) 325 months 320 months
LTV ratio (as a percent) 68.00% 70.00%
Weighted Average Original FICO 738 738
60+ Days Past Due % 3.50% 4.70%
Residential whole loan | Business purpose loans | Single-family rental loans | Current    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) $ 1,436,384 $ 1,636,810
Residential whole loan | Business purpose loans | Single-family rental loans | 30-59    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 16,896 12,543
Residential whole loan | Business purpose loans | Single-family rental loans | 60-89    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 5,180 12,314
Residential whole loan | Business purpose loans | Single-family rental loans | 90 or more    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 46,782 68,256
Residential whole loan | Non-QM loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Asset Amount 4,171,055 3,700,052
Fair Value 4,145,143 3,644,261
Unpaid Principal Balance (“UPB”) $ 4,264,091 $ 3,934,798
Weighted Average Coupon ( as a percent) 6.26% 5.78%
Weighted Average Term to Maturity (Months) 339 months 344 months
LTV ratio (as a percent) 64.00% 65.00%
Weighted Average Original FICO 735 735
60+ Days Past Due % 3.50% 2.70%
Residential whole loan | Non-QM loans | Current    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) $ 4,013,257 $ 3,732,327
Residential whole loan | Non-QM loans | 30-59    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 100,943 98,017
Residential whole loan | Non-QM loans | 60-89    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 37,025 29,587
Residential whole loan | Non-QM loans | 90 or more    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 112,866 74,867
Residential whole loan | Legacy RPL/NPL loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Asset Amount 1,117,908 1,192,457
Fair Value 1,147,684 1,213,199
Unpaid Principal Balance (“UPB”) $ 1,250,859 $ 1,355,280
Weighted Average Coupon ( as a percent) 5.15% 5.03%
Weighted Average Term to Maturity (Months) 255 months 262 months
LTV ratio (as a percent) 55.00% 59.00%
Weighted Average Original FICO 647 648
60+ Days Past Due % 21.40% 23.30%
Residential whole loan | Legacy RPL/NPL loans | Current    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) $ 854,721 $ 896,587
Residential whole loan | Legacy RPL/NPL loans | 30-59    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 128,022 142,240
Residential whole loan | Legacy RPL/NPL loans | 60-89    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 48,794 44,609
Residential whole loan | Legacy RPL/NPL loans | 90 or more    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 219,322 271,844
Residential whole loan | Other loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Asset Amount 55,909 55,779
Fair Value 55,909 55,779
Unpaid Principal Balance (“UPB”) $ 64,875 $ 66,830
Weighted Average Coupon ( as a percent) 3.44% 3.44%
Weighted Average Term to Maturity (Months) 323 months 332 months
LTV ratio (as a percent) 65.00% 66.00%
Weighted Average Original FICO 757 758
60+ Days Past Due % 0.00% 0.30%
Residential whole loan | Other loans | Current    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) $ 64,875 $ 65,094
Residential whole loan | Other loans | 30-59    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 0 1,508
Residential whole loan | Other loans | 60-89    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) 0 0
Residential whole loan | Other loans | 90 or more    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”) $ 0 228
Residential Whole Loan Excluding Unsettled Purchases    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Asset Amount   8,937,639
Fair Value   8,901,985
Unpaid Principal Balance (“UPB”)   $ 9,454,952
Weighted Average Coupon ( as a percent)   6.04%
LTV ratio (as a percent)   65.00%
60+ Days Past Due %   6.60%
Residential Whole Loan Excluding Unsettled Purchases | Current    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”)   $ 8,517,979
Residential Whole Loan Excluding Unsettled Purchases | 30-59    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”)   315,332
Residential Whole Loan Excluding Unsettled Purchases | 60-89    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”)   113,128
Residential Whole Loan Excluding Unsettled Purchases | 90 or more    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unpaid Principal Balance (“UPB”)   508,513
Residential Whole Loan, Unsettled Purchases    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Asset Amount   $ 103,700
[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.