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Segment Reporting (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Segment Reporting Information [Line Items]      
Interest Income $ 180,505 $ 176,831  
Interest Expense 122,968 129,017  
Net Interest Income 57,537 47,814  
Reversal/(Provision) for Credit Losses on Residential Whole Loans (145) 460  
Reversal/(Provision) for Credit Losses on Other Assets 0 (1,109)  
Net Interest Income after Reversal/(Provision) for Credit Losses 57,392 47,165  
Net gain/(loss) on residential whole loans measured at fair value through earnings 54,380 (11,513)  
Impairment and other net gain/(loss) on securities and other portfolio investments 21,179 (4,776)  
Net gain/(loss) on real estate owned (1,508) 991  
Net gain/(loss) on derivatives used for risk management purposes (31,055) 49,941  
Net gain/(loss) on securitized debt measured at fair value through earnings (21,931) (22,462)  
Lima One mortgage banking income 5,437 7,928  
Net realized gain/(loss) on residential whole loans held at carrying value (539) 418  
Other, net (1,451) 1,875  
Other Income/(Loss), net 24,512 22,402  
Compensation and benefits 23,257 25,468  
Other general and administrative expense 10,291 11,995  
Loan servicing, financing and other related costs 7,252 7,042  
Amortization of intangible assets 800 800  
Income/(loss) before income taxes 40,304 24,262  
Provision for/(benefit from) income taxes (872) 1,049  
Net Income/(Loss) 41,176 23,213  
Less Preferred Stock Dividend Requirement 8,219 8,219  
Net Income/(Loss) Available to Common Stock and Participating Securities 32,957 14,994  
Total Assets 11,519,506   $ 11,409,604
Operating Segments | Mortgage-Related Assets      
Segment Reporting Information [Line Items]      
Interest Income 112,767 95,400  
Interest Expense 77,361 66,852  
Net Interest Income 35,406 28,548  
Reversal/(Provision) for Credit Losses on Residential Whole Loans (145) 460  
Reversal/(Provision) for Credit Losses on Other Assets 0 (1,109)  
Net Interest Income after Reversal/(Provision) for Credit Losses 35,261 27,899  
Net gain/(loss) on residential whole loans measured at fair value through earnings 48,663 (8,699)  
Impairment and other net gain/(loss) on securities and other portfolio investments 20,435 (4,776)  
Net gain/(loss) on real estate owned 69 1,256  
Net gain/(loss) on derivatives used for risk management purposes (25,562) 36,158  
Net gain/(loss) on securitized debt measured at fair value through earnings (17,149) (11,576)  
Lima One mortgage banking income 0 0  
Net realized gain/(loss) on residential whole loans held at carrying value (539) 418  
Other, net (745) 959  
Other Income/(Loss), net 25,172 13,740  
Compensation and benefits 0 0  
Other general and administrative expense 8 6  
Loan servicing, financing and other related costs 4,243 5,270  
Amortization of intangible assets 0 0  
Income/(loss) before income taxes 56,182 36,363  
Provision for/(benefit from) income taxes 0 0  
Net Income/(Loss) 56,182 36,363  
Less Preferred Stock Dividend Requirement 0 0  
Net Income/(Loss) Available to Common Stock and Participating Securities 56,182 36,363  
Total Assets 7,874,033   7,395,925
Operating Segments | Lima One      
Segment Reporting Information [Line Items]      
Interest Income 65,272 78,089  
Interest Expense 41,070 56,590  
Net Interest Income 24,202 21,499  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 0 0  
Reversal/(Provision) for Credit Losses on Other Assets 0 0  
Net Interest Income after Reversal/(Provision) for Credit Losses 24,202 21,499  
Net gain/(loss) on residential whole loans measured at fair value through earnings 5,717 (2,814)  
Impairment and other net gain/(loss) on securities and other portfolio investments (9) 0  
Net gain/(loss) on real estate owned (1,577) (265)  
Net gain/(loss) on derivatives used for risk management purposes (5,493) 13,783  
Net gain/(loss) on securitized debt measured at fair value through earnings (4,782) (10,886)  
Lima One mortgage banking income 5,437 7,928  
Net realized gain/(loss) on residential whole loans held at carrying value 0 0  
Other, net (1,996) 504  
Other Income/(Loss), net (2,703) 8,250  
Compensation and benefits 9,793 12,124  
Other general and administrative expense 4,376 5,637  
Loan servicing, financing and other related costs 1,148 519  
Amortization of intangible assets 800 800  
Income/(loss) before income taxes 5,382 10,669  
Provision for/(benefit from) income taxes 0 0  
Net Income/(Loss) 5,382 10,669  
Less Preferred Stock Dividend Requirement 0 0  
Net Income/(Loss) Available to Common Stock and Participating Securities 5,382 10,669  
Total Assets 3,332,561   3,632,472
Corporate      
Segment Reporting Information [Line Items]      
Interest Income 2,466 3,342  
Interest Expense 4,537 5,575  
Net Interest Income (2,071) (2,233)  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 0 0  
Reversal/(Provision) for Credit Losses on Other Assets 0 0  
Net Interest Income after Reversal/(Provision) for Credit Losses (2,071) (2,233)  
Net gain/(loss) on residential whole loans measured at fair value through earnings 0 0  
Impairment and other net gain/(loss) on securities and other portfolio investments 753 0  
Net gain/(loss) on real estate owned 0 0  
Net gain/(loss) on derivatives used for risk management purposes 0 0  
Net gain/(loss) on securitized debt measured at fair value through earnings 0 0  
Lima One mortgage banking income 0 0  
Net realized gain/(loss) on residential whole loans held at carrying value 0 0  
Other, net 1,290 412  
Other Income/(Loss), net 2,043 412  
Compensation and benefits 13,464 13,344  
Other general and administrative expense 5,907 6,352  
Loan servicing, financing and other related costs 1,861 1,253  
Amortization of intangible assets 0 0  
Income/(loss) before income taxes (21,260) (22,770)  
Provision for/(benefit from) income taxes (872) 1,049  
Net Income/(Loss) (20,388) (23,819)  
Less Preferred Stock Dividend Requirement 8,219 8,219  
Net Income/(Loss) Available to Common Stock and Participating Securities (28,607) $ (32,038)  
Total Assets $ 312,912   $ 381,207