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v3.25.1

Securities, at Fair Value - Narrative (Details) | 1 Months Ended | 3 Months Ended | 12 Months Ended
--- | --- | --- | ---
Oct. 31, 2023 option | Mar. 31, 2025 USD ($) | Mar. 31, 2024 USD ($) | Dec. 31, 2024 USD ($)
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Securities, at fair value | [1] |  | $ 1,790,285,000 |  | $ 1,537,513,000
Securities, at fair value |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Securities, at fair value |  |  | 54,700,000 |  | 54,600,000
Amortized costs |  |  | 51,600,000 |  | 50,600,000
Gross unrealized gains |  |  | $ 3,100,000 |  | $ 3,900,000
Weighted average yield (in percent) |  |  | 17.80% |  | 14.00%
Weighted average to maturity |  |  | 7 months 2 days |  | 9 months 29 days
Optional extension period |  | 2 years |  |  |
Term notes backed by MSR related collateral |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Number of options to extend maturity | option |  | 1 |  |  |
Step up in coupon rate (in percent) |  | 0.75% |  |  |
CRT securities |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
CRT securities |  |  | $ 64,500,000 |  | $ 67,600,000
Securities, at fair value |  |  | 51,100,000 |  | 51,500,000
Debt securities, sold |  |  | 2,600,000 |  |
Realized gain on securities sold |  |  | 200,000 |  |
Gross unrealized losses |  |  | 0 |  | 0
Non-agency MBS |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Securities, at fair value |  |  | 22,900,000 |  | 22,600,000
Gross unrealized losses |  |  | 100,000 |  | $ 500,000
Residential mortgage securities |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Debt securities, sold |  |  |  | $ 0 |
AFS securities |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Gross unrealized losses |  |  | 0 |  |
Allowance for loan loss |  |  | $ 0 | $ 0 |
[1] | See Note 6 for information regarding the Company’s pledged assets.

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