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Residential Whole Loans - LTV on Loans (Details) - Residential whole loans
$ in Thousands
Sep. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB $ 9,018,124 $ 9,194,832
Non-QM loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 5,120,904 4,408,660
Business purpose loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 2,707,998 3,500,300
Business purpose loans | Single-family rental loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 1,267,818 1,416,705
Business purpose loans | Single-family transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 804,252 1,106,631
Business purpose loans | Multifamily transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 635,928 976,964
Legacy RPL/NPL loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 1,128,259 1,222,258
Other loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 60,963 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 552,184 615,841
UPB 616,181 687,120
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 205,052 166,299
UPB $ 209,456 $ 169,459
LTV (as a percent) 0.64 0.66
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 $ 147,936 $ 209,186
UPB 190,142 256,328
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 32,964 42,995
UPB $ 40,281 $ 54,732
LTV (as a percent) 0.94 0.99
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 $ 91,025 $ 109,221
UPB $ 103,099 $ 115,972
LTV (as a percent) 0.78 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 $ 23,947 $ 56,970
UPB $ 46,762 $ 85,624
LTV (as a percent) 0.67 0.79
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 $ 199,196 $ 240,356
UPB $ 216,583 $ 261,333
LTV (as a percent) 0.62 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