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Residential Whole Loans - LTV on Loans (Details) - Residential whole loans
$ in Thousands
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB $ 9,104,409  
Business purpose loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 3,237,026 $ 3,500,300
Business purpose loans | Single-family transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 1,006,280 1,106,631
Business purpose loans | Multifamily transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 875,125 976,964
Business purpose loans | Single-family rental loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 1,355,621 1,416,705
Non-QM loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 4,607,963 4,408,660
Legacy RPL/NPL loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 1,196,206 1,222,258
Other Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 63,214 63,614
Financial Asset, Equal to or Greater than 60 Days Past Due    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value 600,706 615,841
UPB 685,593 687,120
Financial Asset, Equal to or Greater than 60 Days Past Due | Business purpose loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value 189,949 209,186
UPB 250,325 256,328
Financial Asset, Equal to or Greater than 60 Days Past Due | Business purpose loans | Single-family transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value 101,545 109,221
UPB $ 117,653 $ 115,972
LTV (as a percent) 0.91 0.79
Financial Asset, Equal to or Greater than 60 Days Past Due | Business purpose loans | Multifamily transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value $ 44,925 $ 56,970
UPB $ 78,102 $ 85,624
LTV (as a percent) 0.80 0.79
Financial Asset, Equal to or Greater than 60 Days Past Due | Business purpose loans | Single-family rental loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value $ 43,479 $ 42,995
UPB $ 54,570 $ 54,732
LTV (as a percent) 0.99 0.99
Financial Asset, Equal to or Greater than 60 Days Past Due | Non-QM loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value $ 174,982 $ 166,299
UPB $ 177,886 $ 169,459
LTV (as a percent) 0.66 0.66
Financial Asset, Equal to or Greater than 60 Days Past Due | Legacy RPL/NPL loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value $ 235,775 $ 240,356
UPB $ 257,382 $ 261,333
LTV (as a percent) 0.63 0.63
Financial Asset, Equal to or Greater than 60 Days Past Due | Other Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value $ 0 $ 0
UPB $ 0 $ 0
LTV (as a percent) 0 0