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Residential Whole Loans - Allowance for Credit Losses (Details) - Residential whole loans - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Dec. 31, 2024
Financing Receivable, Allowance for Credit Loss [Roll Forward]                
Beginning balance $ 9,949 $ 10,194 $ 10,665 $ 13,271 $ 19,612 $ 20,451 $ 10,665  
Current provision/(reversal) 276 791 145 (1,942) (1,079) (460)    
Write-offs (142) (1,036) (616) (672) (5,262) (379)    
Ending balance 10,083 9,949 10,194 10,657 13,271 19,612 10,083  
Non-QM loans                
Financing Receivable, Allowance for Credit Loss [Line Items]                
Loans 5,122,926           5,122,926 $ 4,291,086
Financing Receivable, Allowance for Credit Loss [Roll Forward]                
Beginning balance 2,015 1,928 2,125 1,355 1,681 1,871 2,125  
Current provision/(reversal) 205 87 (197) 387 (326) (190)    
Write-offs (38) 0 0 0 0 0    
Ending balance 2,182 2,015 1,928 1,742 1,355 1,681 2,182  
Business purpose loans                
Financing Receivable, Allowance for Credit Loss [Line Items]                
Loans 2,642,818           2,642,818 3,396,181
Business purpose loans | Single-family rental loans                
Financing Receivable, Allowance for Credit Loss [Line Items]                
Loans 1,246,595           1,246,595 1,356,400
Financing Receivable, Allowance for Credit Loss [Roll Forward]                
Beginning balance 937 980 366 609 4,642 4,355 366  
Current provision/(reversal) (78) (43) 614 205 978 228    
Write-offs (30) 0 0 (439) (5,011)      
Write-offs           59    
Ending balance 829 937 980 375 609 4,642 829  
Business purpose loans | Single-family transitional loans                
Financing Receivable, Allowance for Credit Loss [Line Items]                
Loans 792,079           792,079 1,100,855
Financing Receivable, Allowance for Credit Loss [Roll Forward]                
Beginning balance 512 865 1,389 1,301 1,699 2,587 1,389  
Current provision/(reversal) 548 669 (88) 48 (317) (472)    
Write-offs 0 (1,022) (436) (181) (81) (416)    
Ending balance 1,060 512 865 1,168 1,301 1,699 1,060  
Business purpose loans | Single-family transitional loans | Collateral Dependent Methodology                
Financing Receivable, Allowance for Credit Loss [Line Items]                
Loans 3,800     18,900     3,800  
Legacy RPL/NPL loans                
Financing Receivable, Allowance for Credit Loss [Line Items]                
Loans 1,006,236           1,006,236 $ 1,082,549
Financing Receivable, Allowance for Credit Loss [Roll Forward]                
Beginning balance 6,485 6,421 6,785 10,006 11,590 11,638 6,785  
Current provision/(reversal) (399) 78 (184) (2,582) (1,414) (26)    
Write-offs (74) (14) (180) (52) (170) (22)    
Ending balance 6,012 $ 6,485 $ 6,421 7,372 $ 10,006 $ 11,590 6,012  
Legacy RPL/NPL loans | Collateral Dependent Methodology                
Financing Receivable, Allowance for Credit Loss [Line Items]                
Loans $ 32,100     $ 39,300     $ 32,100