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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2025
Dec. 31, 2024
Common stock, par value (in dollars per share) $ 0.01 $ 0.01 $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 866,300 874,300 866,300 874,300
Common stock, shares issued (in shares) 102,196 102,083 102,196 102,083
Common stock, shares outstanding (in shares) 102,196 102,083 102,196 102,083
VIEs        
Residential whole loans transferred to consolidated VIEs $ 7,600,000 $ 6,900,000 $ 7,600,000 $ 6,900,000
Series B Preferred Stock        
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01 $ 0.01 $ 0.01
Preferred stock, dividend rate (as a percent) 7.50% 7.50% 7.50% 7.50%
Preferred stock, shares authorized (in shares) 12,050 8,050 12,050 8,050
Preferred stock, shares issued (in shares) 8,072 8,000 8,072 8,000
Preferred stock, shares outstanding (in shares) 8,072 8,000 8,072 8,000
Preferred stock, liquidation preference, value $ 201,802 $ 200,000 $ 201,802 $ 200,000
Series C Preferred Stock        
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01 $ 0.01 $ 0.01
Preferred stock, dividend rate (as a percent) 9.90226% 6.50% 6.50% 6.50%
Preferred stock, shares authorized (in shares) 16,650 12,650 16,650 12,650
Preferred stock, shares issued (in shares) 11,123 11,000 11,123 11,000
Preferred stock, shares outstanding (in shares) 11,123 11,000 11,123 11,000
Preferred stock, liquidation preference, value $ 278,064 $ 275,000 $ 278,064 $ 275,000
Asset Pledged as Collateral        
Financing agreements held at fair value 5,952,579 5,516,005 5,952,579 5,516,005
Residential whole loans        
Residential whole loans, fair value $ 7,684,865 $ 7,511,210 $ 7,684,865 $ 7,511,210