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Securities, at Fair Value - Residential Mortgage Securities (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Debt Securities, Available-for-sale [Line Items]    
Fair Value [1] $ 1,790,285 $ 1,537,513
Agency MBS    
Debt Securities, Available-for-sale [Line Items]    
Principal/Current Face 1,642,078 1,403,891
Purchase Premiums 5,431 5,534
Accretable Purchase Discounts (6,037) (3,525)
Discount Designated as Credit Reserve 0 0
Gross Amortized Cost 1,641,472 1,405,900
Gross Unrealized Gains 11,619 2,318
Gross Unrealized Losses (4,898) (15,583)
Net Unrealized Gain/(Loss) 6,721 (13,265)
Fair Value 1,648,193 1,392,635
Other securities    
Debt Securities, Available-for-sale [Line Items]    
Principal/Current Face 143,750 146,808
Purchase Premiums 15,812 14,747
Accretable Purchase Discounts (5,410) (5,662)
Discount Designated as Credit Reserve (23,691) (23,691)
Gross Amortized Cost 130,461 132,202
Gross Unrealized Gains 11,766 13,166
Gross Unrealized Losses (135) (490)
Net Unrealized Gain/(Loss) 11,631 12,676
Fair Value 142,092 144,878
Total residential mortgage securities    
Debt Securities, Available-for-sale [Line Items]    
Principal/Current Face 1,785,828 1,550,699
Purchase Premiums 21,243 20,281
Accretable Purchase Discounts (11,447) (9,187)
Discount Designated as Credit Reserve (23,691) (23,691)
Gross Amortized Cost 1,771,933 1,538,102
Gross Unrealized Gains 23,385 15,484
Gross Unrealized Losses (5,033) (16,073)
Net Unrealized Gain/(Loss) 18,352 (589)
Fair Value 1,790,285 1,537,513
CRT securities    
Debt Securities, Available-for-sale [Line Items]    
Gross Unrealized Gains 2,900 3,200
Gross Unrealized Losses 0 0
Fair Value 51,100 51,500
Non-agency MBS    
Debt Securities, Available-for-sale [Line Items]    
Gross Unrealized Gains 700 500
Gross Unrealized Losses (100) (500)
Fair Value $ 22,900 $ 22,600
[1] See Note 6 for information regarding the Company’s pledged assets.