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v3.25.1

Securities, at Fair Value - Composition of Agency MBS Portfolio (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2025 | Dec. 31, 2024
Debt Securities, Available-for-sale [Line Items] |  |  |
Fair Value | [1] | $ 1,790,285 | $ 1,537,513
$5.00% Coupon |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |
Coupon rate (in percent) |  | 5.00% | 5.00%
Current Face |  | $ 71,277 | $ 71,645
Weighted Average Purchase Price (in percent) |  | 100.20% | 100.20%
Weighted Average Market Price (in percent) |  | 98.20% | 96.60%
Fair Value |  | $ 69,967 | $ 69,233
Weighted Average Loan Age (Months) |  | 24 months | 21 months
CPR (in percent) |  | 0.60% | 3.30%
5.50% Coupon |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |
Coupon rate (in percent) |  | 5.50% | 5.50%
Current Face |  | $ 1,242,201 | $ 993,466
Weighted Average Purchase Price (in percent) |  | 99.90% | 100.20%
Weighted Average Market Price (in percent) |  | 100.10% | 98.80%
Fair Value |  | $ 1,242,953 | $ 981,796
Weighted Average Loan Age (Months) |  | 10 months | 9 months
CPR (in percent) |  | 5.90% | 8.20%
6.00% Coupon |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |
Coupon rate (in percent) |  | 6.00% | 6.00%
Current Face |  | $ 304,195 | $ 313,173
Weighted Average Purchase Price (in percent) |  | 100.10% | 100.10%
Weighted Average Market Price (in percent) |  | 101.90% | 100.70%
Fair Value |  | $ 310,007 | $ 315,317
Weighted Average Loan Age (Months) |  | 17 months | 14 months
CPR (in percent) |  | 8.20% | 11.50%
6.50% Coupon |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |
Coupon rate (in percent) |  | 6.50% | 6.50%
Current Face |  | $ 24,405 | $ 25,607
Weighted Average Purchase Price (in percent) |  | 100.40% | 100.40%
Weighted Average Market Price (in percent) |  | 103.50% | 102.70%
Fair Value |  | $ 25,265 | $ 26,289
Weighted Average Loan Age (Months) |  | 18 months | 15 months
CPR (in percent) |  | 12.30% | 36.10%
Agency MBS |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |
Current Face |  | $ 1,642,078 | $ 1,403,891
Weighted Average Purchase Price (in percent) |  | 100.00% | 100.20%
Weighted Average Market Price (in percent) |  | 100.40% | 99.20%
Fair Value |  | $ 1,648,193 | $ 1,392,635
Weighted Average Loan Age (Months) |  | 12 months | 11 months
CPR (in percent) |  | 6.20% | 9.20%
[1] | See Note 6 for information regarding the Company’s pledged assets.

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