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Financing Agreements - Borrowings Under Repurchase Agreement and Associated Assets Pledged as Collateral (Details) - USD ($) $ in Thousands | Jun. 30, 2026 | Dec. 31, 2025
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Asset Pledged as Collateral with Right |  |
Assets Sold under Agreements to Repurchase [Line Items] |  |
Fair value of securities pledged as collateral under financing agreements | $ 12,654,156 | $ 11,961,120
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 | 5,287,762 | 4,187,770
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 | 8,743,501 | 8,764,343
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 | 1,422,570 | 1,043,363
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 | 89,135 | 89,372
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 | 43,672 | 37,002
Non-agency MBS | Agreements with mark-to-market collateral provisions |  |
Assets Sold under Agreements to Repurchase [Line Items] |  |
Carrying value | 285,800 | 466,900
Fair value of securities pledged as collateral under financing agreements | 357,400 | 600,000
Held at Fair Value | Mark-to-market financing agreements secured by residential whole loans |  |
Assets Sold under Agreements to Repurchase [Line Items] |  |
Carrying value | $ 1,449,401 | $ 1,308,661
Weighted average haircut (percent) | 18.49% | 20.28%
Held at Fair Value | 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 | $ 1,778,651 | $ 1,642,252
Held at Fair Value | Mark-to-market financing agreements secured by securities at fair value |  |
Assets Sold under Agreements to Repurchase [Line Items] |  |
Carrying value | $ 3,686,157 | $ 2,980,762
Weighted average haircut (percent) | 3.33% | 3.82%
Held at Fair Value | Mark-to-market financing agreements secured by securities 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 | $ 3,821,520 | $ 3,107,405
Held at Fair Value | Mark-to-market financing agreements secured by real estate owned |  |
Assets Sold under Agreements to Repurchase [Line Items] |  |
Carrying value | $ 29,606 | $ 23,307
Weighted average haircut (percent) | 39.71% | 42.24%
Held at Fair Value | 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 | $ 49,189 | $ 41,072
Held at Fair Value | Non-mark-to-market financing secured by residential whole loans |  |
Assets Sold under Agreements to Repurchase [Line Items] |  |
Carrying value | $ 71,309 | $ 82,016
Weighted average haircut (percent) | 20.84% | 28.88%
Held at Fair Value | Non-mark-to-market financing 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 | $ 90,091 | $ 115,326
Held at Fair Value | Non-mark-to-market financing secured by real estate owned |  |
Assets Sold under Agreements to Repurchase [Line Items] |  |
Carrying value | $ 0 | $ 0
Weighted average haircut (percent) | 0.00% | 0.00%
Held at Fair Value | Non-mark-to-market financing 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 | $ 0 | $ 0

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- Definition Amount, after the effects of master netting arrangements, of funds outstanding borrowed in the form of a security repurchase agreement between the entity and another party for the sale and repurchase of identical or substantially the same securities at a date certain for a specified price. Includes liabilities not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(13)(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 860 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481444/860-30-45-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481420/860-30-50-8 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483444/210-20-55-20 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483444/210-20-55-15 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483444/210-20-55-10 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483466/210-20-50-3 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.12-12A(Column A)(Footnote 2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-12(Column A)(Footnote 2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-1 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column A)(Footnote 2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-12B(Column A)(Footnote 4)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-3 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(m)(1)(i)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(m)(1)(ii)(A)(i)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
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