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Financing Agreements - Borrowings Under Repurchase Agreement and Associated Assets Pledged as Collateral (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Asset Pledged as Collateral with Right    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 10,439,785 $ 10,170,472
Asset Pledged as Collateral with Right | Agreements with mark-to-market collateral provisions    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements 2,824,116 2,516,502
Mark-to-market financing agreements secured by residential whole loans | Asset Pledged as Collateral with Right    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements 8,720,446 8,734,115
Mark-to-market financing agreements secured by residential whole loans | Asset Pledged as Collateral with Right | Agreements with mark-to-market collateral provisions    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements 1,135,439 1,107,079
Mark-to-market financing agreements secured by residential whole loans | Held at Fair Value    
Assets Sold under Agreements to Repurchase [Line Items]    
Carrying value $ 1,326,730 $ 1,295,653
Weighted average haircut (percent) 18.27% 19.24%
Mark-to-market financing agreements secured by residential whole loans | Held at Fair Value | Asset Pledged as Collateral with Right    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 1,626,642 $ 1,608,344
Mark-to-market financing agreements secured by securities at fair value | Held at Fair Value    
Assets Sold under Agreements to Repurchase [Line Items]    
Carrying value $ 1,544,478 $ 1,279,007
Weighted average haircut (percent) 4.76% 4.99%
Mark-to-market financing agreements secured by securities at fair value | Held at Fair Value | Asset Pledged as Collateral with Right    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 1,631,474 $ 1,352,918
Mark-to-market financing agreements secured by real estate owned | Asset Pledged as Collateral with Right    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements 87,865 83,439
Mark-to-market financing agreements secured by real estate owned | Asset Pledged as Collateral with Right | Agreements with mark-to-market collateral provisions    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements 57,203 56,505
Mark-to-market financing agreements secured by real estate owned | Held at Fair Value    
Assets Sold under Agreements to Repurchase [Line Items]    
Carrying value $ 21,376 $ 25,390
Weighted average haircut (percent) 49.58% 55.71%
Mark-to-market financing agreements secured by real estate owned | Held at Fair Value | Asset Pledged as Collateral with Right    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 63,213 $ 62,659
Non-mark-to-market financing secured by residential whole loans | Held at Fair Value    
Assets Sold under Agreements to Repurchase [Line Items]    
Carrying value $ 416,957 $ 576,774
Weighted average haircut (percent) 24.74% 21.40%
Non-mark-to-market financing secured by residential whole loans | Held at Fair Value | Asset Pledged as Collateral with Right    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 563,491 $ 740,494
Non-mark-to-market financing secured by real estate owned | Held at Fair Value    
Assets Sold under Agreements to Repurchase [Line Items]    
Carrying value $ 0 $ 0
Weighted average haircut (percent) 0.00% 0.00%
Non-mark-to-market financing secured by real estate owned | Held at Fair Value | Asset Pledged as Collateral with Right    
Assets Sold under Agreements to Repurchase [Line Items]    
Fair value of securities pledged as collateral under financing agreements $ 0 $ 0
Non-agency MBS | Agreements with mark-to-market collateral provisions    
Assets Sold under Agreements to Repurchase [Line Items]    
Carrying value 391,900 394,900
Fair value of securities pledged as collateral under financing agreements $ 495,900 $ 506,600